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October 1, 2012
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Daily news for the equipment finance sector

  Industry News 
  • CIT chairman: Company isn't up for sale
    John Thain, chairman and CEO of CIT Group, says he is not shopping the company, despite an analyst's suggestion that it could be a good takeover target. Additionally, he said a study of the middle-market companies that CIT works with finds they "are generally optimistic about their business. Even though they're worried about the economy, 87% of them saw their business growing in the next 12 months, which is great." CNBC (9/27) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Hopes for U.S. rebound fade as global trade slips
    Key indicators signal a broad drop in the volume of global trade, undercutting the chances of exports giving the U.S. economic recovery a helping hand. The World Trade Organization forecasts a 2.5% growth in global trade this year, compared with 5% in 2011. The CPB Netherlands Bureau for Economic Policy Analysis, an agency of the Dutch government, said global trade contracted in June and July. The Wall Street Journal (10/1) LinkedInFacebookTwitterEmail this Story
  • China's factory output contracts at slower pace, data show
    Between August and September, China's official purchasing managers' index for factory output rose from 49.2 to 49.8, indicating that industrial production is still contracting but at a slower pace. A similar index published by HSBC rose from 47.6 in August to 47.9 in September, confirming that the decline of industrial production is leveling off but has not reversed. Reuters (9/30) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • SEC faces criticism for inaction on HFT concerns
    The Federal Reserve Bank of Chicago expressed concerns to the Securities and Exchange Commission about high-frequency trading more than two years ago. The SEC is taking a closer look at the strategy, prompting criticism from those who say the agency has been slow to respond. The SEC is meeting this week to discuss technology glitches that have affected trading and how to rein in super-fast computerized trading. Reuters (10/1) LinkedInFacebookTwitterEmail this Story
  • Administration of Libor will be put up for bid, FSA says
    Martin Wheatley, managing director of the U.K. Financial Services Authority, said governance and administration of the London Interbank Offered Rate will be put out to tender. "It is essential that the conduct of a new administrator should be rigorous and transparent," Wheatley said. Authorities have yet to announce a timeline for the change. Meanwhile, regulators in Europe, Japan and the U.S. said the FSA's recommendations will provide a model for their efforts to reform interbank-lending rates. (subscription required) (9/28), Financial News Online (U.K.) (subscription required) (9/28), Financial Times (tiered subscription model) (9/28) LinkedInFacebookTwitterEmail this Story
  Best Practices 
  • Keep it simple to foster strategic success
    Complexity is a sign of bad strategy, write Donald Sull and Kathleen M. Eisenhardt. A good strategy can be simmered down into basic rules that make execution more manageable. "Simple rules represent the beating heart of strategy. When applied to a critical bottleneck, carefully crafted, and used in a mindful manner, they can guide the activities that matter," they write. Harvard Business Review online/HBR Blog Network (9/27) LinkedInFacebookTwitterEmail this Story
You Can't Get This Information Anywhere Else
Whether you use the 2012 Survey of Equipment Finance Activity as a performance management tool, a benchmarking tool, a marketing tool or a research tool, you'll find the information you need to stay informed and keep your competitive edge. Special Offer: Download a free summary or order the full report. ELFA members save 46%!
  ELFA Member News 
  ELFA News 
  • Don't delay! Oct. 9 deadline for annual convention
    Oct. 9 is the last day to register for the ELFA 51st Annual Convention and still be included on the attendee roster distributed on-site. Registration will still be honored after this date, but the attendee's name will not on the printed roster. Register! LinkedInFacebookTwitterEmail this Story
  • October employer special: ELFA Career Center
    Calling all employers with positions to fill! During October only, you'll save 15% on a 30- or 60-day job posting at the ELFA Career Center. Pay only $254 for a 30-day posting -- 50% off the nonmember price! To take advantage of this special offer, visit the ELFA Career Center, create an account and post your job using promo code OctoberSpecial. You'll see results: In 2012, our job postings have received an average of 603 views per job and 15 "Apply" button clicks. LinkedInFacebookTwitterEmail this Story
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