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October 18, 2011
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Daily news for the equipment finance sector

  Industry News 
  • U.S. needs to try harder to boost exports, Immelt says
    The country's effort to increase exports is lackluster, partly contributing to its economic downturn, General Electric CEO Jeff Immelt said. "We haven't really tried as hard as we can to compete, educate and sell our products around the world, and I think we can do better," he said. Reuters (10/17) LinkedInFacebookTwitterEmail this Story
  • PayNet reports increase in startup activity for 2011
    PayNet data show that business-startup activity is growing, with 200,000 to 300,000 net launches expected this year. That comes as business failures decrease. Amusement and recreation are among sectors adding companies. "We're finally turning the corner," said William Phelan, president and founder of PayNet. "We're starting to see net new startups emerge. Jobs will eventually come from those startups." Reuters (10/17) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Mark-to-market is highlighted again in Citigroup earnings
    A controversial accounting rule that allows banks to value some assets and liabilities on a mark-to-market basis continues to be highlighted this earnings season. Citigroup reported a $1.9 billion accounting gain for the third quarter because of a weakening of its debt relative to Treasurys. JPMorgan Chase posted a gain for the same reason. Reuters (10/17) LinkedInFacebookTwitterEmail this Story
  • Insider expects other banks to follow BofA's lead on fee
    Paul Miller of FBR Capital Markets said Bank of America's move to charge customers a fee for using their debit cards likely will be emulated by other banks. Lenders are striving to recoup revenue lost by regulatory changes, such as a limit on interchange fees. "Banks will try to do something to recuperate some of those fees," said Miller, a former examiner with the Federal Reserve Bank of Philadelphia. "They won't recuperate all of them, but they'll try to get some of them back." Bloomberg (10/17) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Industry voices concern about consequences of Volcker rule
    The Volcker rule could have unintended consequences, industry participants said. For example, the rule could add pressure on wire houses' retail wealth-management operations to increase profit. Also, Citigroup and UBS could face compliance and regulatory requirements that some of their rivals won't. InvestmentNews (free registration) (10/16), Bloomberg (10/17) LinkedInFacebookTwitterEmail this Story
  Featured Content 

  ELFA Member News 
  • EquipmentEngine's Q3 report captures cautious optimism
    EquipmentEngine released its quarterly update on the equipment-leasing and -finance industry. Among themes in the 2011 Third Quarter EquipmentEngine ELF Report is cautious optimism "with a heavy emphasis on the need to innovate," said President Richard Henderson. Read more. LinkedInFacebookTwitterEmail this Story
 What are the hot industries in equipment leasing & finance?
Download your free summary of the 2011 Survey of Equipment Finance Activity! Discover trends in equipment investment from more than 25 end-user industries. Plus: Performance metrics for 108 equipment finance companies — by volume size, organization type, market segment and business model.

  ELFA News 
  • Foundation will release State of the Equipment Finance Industry report soon
    The highly anticipated State of the Equipment Finance Industry report, prepared by Financial Institutions Consulting, will make its debut at the ELFA 50th Annual Convention this month. Convention attendees will not want to miss a dedicated breakout session Oct. 24 during which the study's findings will be presented, including a forecast of the industry's size in 2011. Also, the presentation will require audience participation to gauge the State of the Equipment Finance Industry in real time. For more information, visit the Equipment Leasing & Finance Foundation's website. LinkedInFacebookTwitterEmail this Story
  • Fall special: ELFA Career Center
    Just in time for peak hiring season in the equipment-leasing and -finance industry, the ELFA Career Center added resources to help employers and job seekers meet their employment goals. As the economy and job market begin to recover, this is a great time to take advantage of the equipment-leasing and -finance industry's best online employment resource.

    Job seekers: Enjoy free and confidential resume posting, job listings and much more.

    Employers: Reach target candidates easily and effectively. Access a searchable resume database, and receive automatic e-mail notification when resumes match your criteria. For a limited time, ELFA is offering employers 20% off a 30- or 60-day job posting. Enter promo code Fall2011 when posting a job.

    Visit for details. LinkedInFacebookTwitterEmail this Story
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Genius is nothing but a great aptitude for patience."
--Georges-Louis Leclerc, Comte de Buffon,
French naturalist, mathematician, cosmologist and author

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