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November 27, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Equipment-loan origination reached $7.6B in October
    Companies secured $7.6 billion in loans, leases and lines of credit last month for equipment, according to ELFA. The total was 7% less than September's but 27% more compared with October 2011. "There is still demand for equipment across a wide spectrum of the economy," ELFA President and CEO William G. Sutton said. Reuters (11/26) LinkedInFacebookTwitterEmail this Story
  • U.K. nuclear venture is purchased by Hitachi for $1.11B
    Hitachi finalized a $1.11 billion takeover of U.K. nuclear venture Horizon from RWE and E.ON. "Hitachi will now begin discussions with UK regulators to obtain approval to use Advanced Boiling Water Reactor (ABWR) technology under the UK's Generic Design Assessment process," according to Hitachi. Reuters (11/26) LinkedInFacebookTwitterEmail this Story
  • 20 alt-fuel projects gain Energy Department funding
    The Department of Energy has allotted approximately $11 million to fund 20 projects under the Clean Cities program. The projects include infrastructure and safety training to ensure wider adoption of alternative fuel, such as propane autogas. Autoblog/Green (11/24) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Economists see best hope for 2013 in U.S. economy
    Economists see a brighter 2013 for the U.S. than for other major global economies, if only Washington can solve its debt and deficit problems. The consensus forecast also notes that the U.S. growth estimate for the third quarter is likely to be revised sharply upward, perhaps to 2.8%, although that pace is not believed to be sustainable. Reuters (11/25) LinkedInFacebookTwitterEmail this Story
  • Profit climbs for Chinese industrial companies
    Chinese factory output and exports increased last month, ending a slowdown that lasted seven quarters. Industrial companies' profit jumped 20.5% compared with October 2011, according to the National Bureau of Statistics. Bloomberg (11/27) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • China criticizes U.S. over quantitative easing
    Describing the Federal Reserve's quantitative easing as an "irresponsible and beggar-thy-neighbor policy," China says emerging-market currencies are suffering amid resultant high volatility. "The right path to resolve this issue is by enhancing the responsibility of and promoting coordination among the international reserve-currency issuers," said Zhu Hong, China's deputy permanent representative to the World Trade Organization. Bloomberg (11/26) LinkedInFacebookTwitterEmail this Story
  • FASB seeks comments on offsetting-requirement proposal
    The Financial Accounting Standards Board is accepting comments on revised disclosure requirements regarding offsetting assets and liabilities presented on a net basis. The revisions clarify that the requirements are meant for financial instruments rather than customer or supplier agreements. These questions arose after FASB published a proposed update requiring companies to provide more data about the instruments. Compliance Week/Accounting & Auditing blog (11/26) LinkedInFacebookTwitterEmail this Story
  • Global regulators will discuss oversight of derivatives market
    The Commodity Futures Trading Commission and the Securities and Exchange Commission will host global regulators this week to discuss harmonizing the approach to the derivatives market. Regulators in Europe and Asia have criticized the CFTC for its efforts to apply U.S. rules to overseas traders and financial institutions. Reuters (11/26) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • Registration is open for 2013 Equipment Management Conference & Exhibition
    Registration is open for the 2013 Equipment Management Conference & Exhibition, scheduled Feb. 24 to 26 at the Grand Hyatt Tampa Bay in Tampa, Fla. Next year will be the 25th year for this event, and ELFA has planned a special celebration. Details on the agenda will be available soon, but for planning purposes, the conference begins with an on-site vehicle showcase at 3 p.m. Feb. 24 and ends with a closing dinner Feb. 26. Register!

    The Grand Hyatt Tampa Bay has set up a special website for attendees to make a hotel reservation. If you prefer, call the hotel at (813) 874-1234 or (800) 233-1234. Provide your arrival and departure dates, and mention "ELFA Equipment Management Conference" to get the ELFA group rate. Make a reservation before Feb. 1 to secure the group rate. LinkedInFacebookTwitterEmail this Story
  • ALERT: Calif. Electronic Waste Recycling Fee change is effective Jan. 1
    On Jan. 1, the California Electronic Waste Recycling Fee will change to $3, $4 or $5, depending on the diagonal viewable screen size of equipment. Lessors are responsible for collection on the sale or lease of a covered electronic device even if exercising the option for vendors to voluntarily collect and remit the fee. Covered devices include computer monitors, televisions, laptop computers and portable DVD players. Visit the California Electronic Recycling Fee page on the ELFA State Advocacy website for more information. LinkedInFacebookTwitterEmail this Story
The Buzz(CORPORATE ANNOUNCEMENTS)


  SmartQuote 
Every path hath a puddle."
--George Herbert,
Welsh-British poet, orator and priest


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