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October 24, 2012
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Daily news for the equipment finance sector

  Industry News 
  • S&P 500 firms' cash stockpiles approach record $1.5 trillion
    Standard & Poor's 500 companies, reluctant to make long-term investments or hire because of economic uncertainty, are stockpiling cash at record rates. Overall, cash balances are up 14% and could reach an all-time high of $1.5 trillion. CNBC (10/23) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Spain remains stuck in recession as economy contracts 0.4%
    Spain's central bank said its preliminary figures show the nation's economy contracted 0.4% in the third quarter and declined 1.7% from where it stood a year ago. Household and government spending fell during the quarter, the bank said. The unemployment rate in Spain is now about 25%, the same as in Greece. CNNMoney (10/23) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • CFTC prepares HFT rules for feedback
    Commodity Futures Trading Commission Chairman Gary Gensler said Tuesday that proposals are in the works for reining in high-frequency trading. Gensler said he hopes that the concept release will go before the whole commission soon, and that it will fuel public discussion. Reuters (10/23) LinkedInFacebookTwitterEmail this Story
  • Long-sought global accounting standards in danger as boards split
    A split between the International Accounting Standards Board and the U.S. Financial Accounting Standards Board threatens to derail a drive for common standards that is a decade in the making. The two sides are divided on a number of issues, with one of the key sticking points being how to force banks into earlier acknowledgment of losses on bad loans. Reuters (10/23) LinkedInFacebookTwitterEmail this Story
  • Exchanges face backlash over certain trading tools
    Mutual funds and regulators are raising concerns about trading tools offered by NYSE Euronext and Nasdaq OMX Group. Some say a particular trading-order type gives certain market participants an advantage. NYSE Euronext is planning to request that it be allowed to alter the order type, exchange officials said. Nasdaq OMX is also considering changes to an automated trading tool proposal following regulators' concerns, sources said. The Wall Street Journal (10/23) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • ELFA announces new board, chairman and chairman-elect
    Richard J. Remiker, president of Huntington Equipment Finance, has been named chairman of Equipment Leasing and Finance Association's board of directors and Adam Warner, president of Key Equipment Finance, has been named chairman-elect. ELFA also announced the members for its new board of directors for the next twelve months. Read more. LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • Update from the ELFA 51st Annual Convention
    The ELFA 51st Annual Convention wrapped up yesterday following three days of high-quality learning and networking. President and CEO Woody Sutton kicked off the Tuesday General Session with the annual state of the association address. Sutton’s remarks were followed by a keynote address from Russ Golden, member of the Financial Accounting Standards Board, and political expert Charlie Cook, who provide an outlook on the November elections and the political landscape in Washington.

    Throughout the day, attendees participated in breakout sessions on critical industry topics, including surviving and thriving in the post-liquidity crises world, technology excellence, federal and municipal leasing, bundled service agreements, and keeping up with the global economy. Attendees also visited the Exhibit Hall, which showcased the latest technology and services available to help increase the operational efficiency of their companies.

    At luncheon meetings hosted by the Small Ticket, Independent Middle Market, Financial Institutions and Captive and Vendor Finance Business Councils, members discussed hot topics affecting their business sectors.

    Browse photos from the convention.
    See the full list of exhibitors.
    Thank you to sponsors who supported the convention. LinkedInFacebookTwitterEmail this Story
  • What are the most leased asset types?
    Transportation, computer and agricultural equipment were the top three equipment types leased and financed in 2011, according to the 2012 Survey of Equipment Finance Activity (SEFA). The top three equipment types comprised more than 50% of transactions reported by ELFA members responding to the SEFA. See the full picture for more than 25 end-user industries and equipment types, and get comprehensive performance metrics for 109 equipment leasing and finance companies -- by volume size, organization type, market segment and business model -- in the SEFA. To download a free summary or order the full report, go to LinkedInFacebookTwitterEmail this Story
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Sometimes we stare so long at a door that is closing that we seek too late the one that is open."
--Alexander Graham Bell,
American inventor

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