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March 14, 2013
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Daily news for the equipment finance sector

  Industry News 
  • IDC expects 6% increase in IT spending this year
    IDC forecasts that information technology spending will increase in the second half of 2013 in every state and the District of Columbia. The company predicts that spending on hardware, software and IT services will increase 6% this year, to $474 billion. IT Jungle (3/11) LinkedInFacebookTwitterEmail this Story
  • Ex-Im Bank OKs $28.6M loan for Honduran wind project
    The Export-Import Bank has finalized a $28.6 million loan to expand a wind farm in Santa Ana, Honduras. The loan will enable the project to receive 12 turbines from Pennsylvania's Gamesa Wind US. "With this project, we've achieved an impressive win all around: for exporters, for U.S. workers and for energy consumers in Honduras, because the wind-driven generators cost less to operate than their equivalent in fossil-fueled equipment," said Fred Hochberg, the bank's chairman and president. CNSNews.com (3/13) LinkedInFacebookTwitterEmail this Story
  • Senate amendment would restore billions for MAP-21 funding
    A continuing resolution passed by the House last week would cut promised transportation funding. However, the Senate's continuing resolution would restore that funding to a full $109 billion over two years. The move has gained praise from the American Association of State Highway and Transportation. "The Senate's continuing resolution recognizes that the nation's economic recovery remains dependent on the funding levels envisioned in MAP-21 and now is not the time to deviate from those levels," Executive Director Bud Wright said. Transport Topics (3/13), StreetsBlog.org/Washington, D.C. (3/13) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  Government & Regulatory 
  • "Too big to fail" issue persists, regulators say
    Systemically important financial institutions worldwide remain a concern as reform has failed to ensure that they will not need a taxpayer-funded rescue, regulators and other officials say. "It is difficult to see any major systemically important financial institution being allowed to go under," said Manmohan Singh, senior economist with the International Monetary Fund. Reuters (3/13) LinkedInFacebookTwitterEmail this Story
  • SEC says big banks don't have to hold votes over breaking up
    The Securities and Exchange Commission will not recommend any action if banks decide not to conduct shareholder votes to explore breaking up the companies, the regulatory agency said in letters to JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley. SEC lawyers determined that the measures proposed would not allow the banks to determine "with any reasonable certainty exactly what actions or measures" were required. Reuters (3/14), The Wall Street Journal/Deal Journal blog (3/13) LinkedInFacebookTwitterEmail this Story
  • Coordination on currency regulation is essential, CME says
    CME Group is calling for coordination between the U.S. and Europe on rules covering currency trading. Without it, CME says, markets will become fragmented. "Nobody wants to see a regulatory regime that starts to bifurcate and create reasons, and maybe not natural reasons, to put business on less-regulated shores," CME's Derek Sammann said. Bloomberg (3/13) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • ELFA brings back Executive Roundtable
    ELFA has restarted the Executive Roundtable. The event was held in Dallas, and topics discussed include economic drivers affecting the industry, competitive strategies and leadership initiatives. Read more. LinkedInFacebookTwitterEmail this Story
  • Great American and ECS join forces
    Great American Insurance Group has formed a strategic relationship with ECS Financial Services, which provides lease-portfolio management, tax compliance and accounting, specializing in the equipment-leasing industry. Under the agreement, ECS will recommend Great American's specialty insurance products. Read more. LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • March 15 deadline: Complete the 2013 Survey of Equipment Finance Activity
    The questionnaire for ELFA's 2013 Survey of Equipment Finance Activity has been mailed to all members, and we're looking for your response. March 15 is the deadline for submitting your response, and ELFA is encouraging you to respond as soon as possible.

    Every member company that responds to the survey will receive a complimentary copy of the survey report, a $1,295 value, as well as confidential individual company data sheets, which compare and rank respondents' data with those of other participants.

    Don't miss out on this key ELFA member benefit -- complete the questionnaire. The survey is a must-have for equipment-financing professionals who are serious about competing in this dynamic economic and business climate. You may download the SEFA from the Research section of the ELFA website. For more information, contact Bill Choi at 202-238-3413 or bchoi@elfaonline.org. LinkedInFacebookTwitterEmail this Story
  • ELFA requests participation in compensation survey
    ELFA is partnering with McLagan to conduct the 2013 Equipment Leasing & Finance Compensation Survey. Past participants include more than 60 independent, bank and captive leasing companies. Survey coverage includes executive management; vendor, direct, dealer and indirect origination; underwriting; portfolio management; remarketing; and operations across sectors and ticket sizes.

    Participation fees are tiered based on annual new business volume, between $950 and $3,500. Data will be collected through May, with firm results available in mid-August. Contact Bill Choi at bchoi@elfaonline.org or Kevin Raynes at kraynes@mclagan.com if you are interested in participating. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Success is a lousy teacher. It seduces smart people into thinking they can't lose."
--Bill Gates,
American businessman


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