ELFA SmartBrief

Reading this on a mobile device? Try our optimized mobile version here: http://r.smartbrief.com/resp/dTnqCfbwoceNbDeFknrY

October 3, 2012

Daily news for the equipment finance sector

Industry News

Caterpillar eyes bigger footprint in natural gas products
Caterpillar plans to produce more equipment and engines fueled by natural gas. The company said it sees a long-term global market for such products. ForConstructionPros.com (10/2)

Australian bank issues $121M loan for 5 U.K. wind projects
British company Infinis secured a $121 million loan from National Australia Bank to develop five land-based wind farms in the U.K. The projects, with total capacity of 52.5 megawatts, are scheduled to go online by March. Bloomberg Businessweek (10/2)

EverBank acquires GE Capital's business-property lending unit
EverBank Financial finalized its buyout of GE Capital's business-property lending unit for $2.4 billion in cash. The unit will lend to small and midsize businesses. AmericanBanker.com (free registration) (10/2)

August brought 0.6% decline in construction spending
A 0.6% drop in construction spending in August compared with July indicates that the "industry has definitely lost some of the momentum it had earlier this year," said Stephen Sandherr, CEO of the Associated General Contractors of America. "With the exception of the lodging sector, many businesses are retreating from the levels of construction spending we saw in the spring and early summer." However, spending in August increased 6.5% compared with August 2011. ChainStoreAge.com (10/1)

Group: Rail industry to invest $23B using private funds in 2012
The freight-rail industry is poised to invest $23 billion using private dollars for infrastructure enhancement this year "so taxpayers don't have to," said Edward Hamberger, president and CEO of the Association of American Railroads. "These investments ... help keep American businesses competitive in the global marketplace, while supporting not only railroad jobs but also supporting jobs throughout the economy." Among projects covered by such investments are intermodal terminals, bridges, tunnels and tracks. RT&S online (10/1)

Market Trends

U.S. auto sales reach highest level since February 2008
Seemingly unconcerned by an impending "fiscal cliff," Americans bought 1.19 million vehicles in September. The number is the highest seasonally adjusted rate in more than four years, Autodata said. German and Japanese models were the biggest sellers. The New York Times (tiered subscription model) (10/2), Detroit Free Press (10/2)

Inflation accelerates in developed economies, OECD says
Rising energy prices are boosting inflation among advanced economies, the Organization for Economic Cooperation and Development said. "Energy price inflation accelerated sharply to 3.5 percent in August, up from 0.7 percent in July, while food price inflation slowed to 2.1 percent in August, compared with 2.3 percent in July," the organization said. Google/Agence France-Presse (10/2), The Irish Times (Dublin) (10/2), Nasdaq.com/Dow Jones Newswires (10/2)

Positive reading for U.S. manufacturing may not last
Coming after a long string of purchasing manager indexes painting a picture of manufacturing contraction around the world, the positive PMI reading of 51.5 for September sets the U.S. apart. But analysts are wary, noting a series of upcoming challenges that could rapidly turn numbers negative, including the impending threat of tax increases posed by the so-called fiscal cliff. The Wall Street Journal/Real Time Economics blog (10/1)

Government & Regulatory

Regulators aim to help Libor users move away from benchmark
Gary Gensler, chairman of the Commodity Futures Trading Commission, said global regulators are striving to aid a transition away from use of the London Interbank Offered Rate. Financial Times (tiered subscription model) (10/2)

ELFA Member News

NYC school obtains equipment-lease financing from TEQlease
TEQlease Capital provided lease financing worth more than $1.5 million to a private school in New York City. The school will use the proceeds for technology equipment at its new building in the Chelsea area of Manhattan. Read more.

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 be included in the printed roster. Register!

Learn more about ELFA ->

SmartQuote

There is nothing so agonizing to the fine skin of vanity as the application of a rough truth."

--Edward Bulwer-Lytton,
British politician, poet, playwright and novelist

Subscriber Tools

Print friendly format | Web version | Search past news | Archive | Privacy policy

Advertise

Associate Publisher: Abiy Bekele (212) 450-7919

Read more at SmartBrief.com
A powerful website for SmartBrief readers including:
Industry Home Readers' Choice Search Archive Grab our News Widget Get this RSS Feed Publish your Press Release Download a SmartBrief Mobile app today


	Recent ELFA SmartBrief Issues: Tuesday, October 02, 2012 Monday, October 01, 2012 Friday, September 28, 2012 Thursday, September 27, 2012 Wednesday, September 26, 2012			Lead Editor: Tom Anderson Mailing Address: SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004