| Daily news for the equipment finance sector |  |
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- Why America's manufacturing jobs are coming home
Companies such as General Electric are pivoting away from offshore manufacturing and toward a revival of U.S. factories, Charles Fishman writes. Cheap Chinese labor hasn't delivered the broader economic advantages some firms had sought, and local manufacturing can allow companies to operate more nimbly and with increased quality control. "Jobs are coming back not for a single, simple reason, but for many intertwined reasons -- which means they won’t slip away again when one element of the business, or the economy, changes," Fishman argues. The Atlantic
(12/2012)     
| Market Trends | | |
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- FDIC: Quarterly bank earnings hit highest level in 6 years
Banks' revenue grew 3% in the third quarter from the same period last year, the largest uptick in almost three years, reports the Federal Deposit Insurance Corp. Quarterly profits rose 6.6% to the highest level in six years. The quarter marked the first time in three years that bank gains were attributed primarily to traditional revenue, as opposed to lower provisions for loan losses. The Wall Street Journal
(12/4)
| Government & Regulatory | | |
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- Global regulators vow to fix derivatives-rule problems
Regulators worldwide recently met in New York and identified potential problems with derivatives rules. "We have identified various potential conflicts, inconsistencies, and duplicative requirements within our respective contemplated rules and we will continue to discuss measures to ameliorate the challenges they raise," the regulators said in the joint statement. For example, the regulators will strive to minimize issues arising from extraterritoriality. Nasdaq.com/Dow Jones Newswires
(12/4), Reuters
(12/4)
- SEC describes why a country would adopt IFRS
The Securities and Exchange Commission still has no timeline for deciding whether to adopt International Financial Reporting Standards, but the agency's deputy chief accountant offered insight into why countries make a switch to IFRS. Julie Erhardt says countries typically make the switch in order to achieve broad economic objectives such as improvement in capital markets or to attract foreign investment. Compliance Week/Accounting & Auditing blog
(12/3)
| ELFA Member News | | |
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- Mich. starts finance program for energy efficiency
The Michigan Saves Business Energy Financing Program has launched. The program encourages savings through energy-efficient upgrades by providing low-interest financing for lighting, heating and cooling, insulation, refrigeration and equipment. Ervin Leasing and Bank of Ann Arbor are the lending and capital providers. Read more.
| ELFA News | | |
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4 off-site tours are planned for 2013 Equipment Management Conference
A highlight of the ELFA Equipment Management
Conference & Exhibition, scheduled Feb. 24 to 26 at the Grand Hyatt Tampa Bay in Tampa, Fla., will be off-site tours. These tours provide an opportunity for attendees to visit with experts and experience equipment in a real-world setting. Four tours are planned: a shipyard, a medical-imaging testing and refurbishment center, a dealership for used heavy- and medium-duty trucks and corporate aircraft. Attendees routinely rate such tours as the most valuable part of the conference. See details on the agenda and register, and make a hotel reservation.
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2012 might be drawing to a close, but you can still access material from this year's ELFA conferences!
ELFA's 2012 business-development conferences have been full of critical and relevant information presented by some of the most knowledgeable people in the industry. If you weren't able to attend, the ELFA Conference Resource Center lets you become a virtual attendee, providing access to session handouts, speaker bios and session recordings for many events, including the Equipment Management Conference, the Legal Forum, the Credit & Collections Management Conference, the Operations & Technology Conference, the Lease and Finance Accountants Conference and the 51st Annual Convention.
To browse available meetings and to purchase access, visit the Conference Resource Center and look under Featured Events. For questions, contact Alexa Carnibella at acarnibella@elfaonline.org or (202) 238-3416.
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