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March 4, 2013
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Daily news for the equipment finance sector

  Industry News 
  • Why leasing works
    Businesses should consider equipment leasing in many circumstances. It can be cost-efficient, provide access to the latest tools and technology, conserve working capital and offer tax advantages. About 80% of companies lease at least some of their equipment, according to the Equipment Leasing Association of America. Entrepreneur online (3/3) LinkedInFacebookTwitterEmail this Story
  • Sequestration might hit small-business lending
    Sequestration might affect small businesses' access to capital, especially companies that rely on Small Business Administration loan guarantees. Cuts to SBA loan guarantees could lead small businesses to alternative lenders, some say. CFO.com (2/28) LinkedInFacebookTwitterEmail this Story
  • Caterpillar prepares for union talks at Wis. plant
    Caterpillar will soon begin negotiating with the United Steelworkers about renewal of its labor contract, set to expire April 30, at a facility in South Milwaukee, Wis. The company also has started to train managerial and support staff for production, in case a work stoppage occurs. The Wall Street Journal (3/1) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • Analysis: Jobs, salaries stagnate as corporate profits surge
    The Dow Jones industrial average rose to within 75 points of a record high last week, marking what has become a "golden age for corporate profit" while millions of Americans are still unable to find work, Nelson Schwartz writes. Corporate profits accounted for 14.2% of national income in the third quarter, the most since 1950. The portion of that income paid to workers was 61.7%, close to the lowest amount since 1966. The New York Times (tiered subscription model) (3/3) LinkedInFacebookTwitterEmail this Story
  • Construction spending declined 2.1% in January
    A 2.1% drop in construction spending was recorded in January, reaching an annual rate of $883.3 billion, according to the Commerce Department. The decrease, in public and private construction, was the largest since July 2011 and indicates weak economic growth this quarter. Reuters (3/1) LinkedInFacebookTwitterEmail this Story
  • MAPI forecasts rosy manufacturing activity in 2013-2014
    U.S. manufacturing activity this year is predicted to rise 2.2% and 3.6% in 2014, according to a Manufacturers Alliance for Productivity and Innovation report. "Consumer deleveraging is close to an end; there are definitive signs of improvement in the housing market, especially on the supply side; and there is moderate job growth, pent-up demand and the potential for spending that was previously postponed," said Daniel Meckstroth, MAPI chief economist. The Journal of Commerce (2/28) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • Banks express concerns about consequences of regulations
    A Citigroup securities filing says a Dodd-Frank Act provision forcing overseas branches to comply with U.S. derivatives rules might cost the bank customers. Clients "have expressed an unwillingness to continue to deal with overseas branches of U.S. banks if the rules would subject them to these requirements," according to Citigroup. Meanwhile, Goldman Sachs says ring-fencing subsidiaries would force the bank to hold more capital. Bloomberg (3/1) LinkedInFacebookTwitterEmail this Story
  • Disparity in swaps rules hurts industry, exec says
    ICAP's Peter Best said at a FIX Protocol conference that the industry is already feeling the effect from a gap between swaps rules in Europe and the U.S. He said the divergence foreshadows long-term inefficiency. "Until we know what the final rules and recognition of foreign regulatory regimes look like, it's incredibly hard to know exactly what to deliver," Best said. The Trade News (U.K.) (3/1) LinkedInFacebookTwitterEmail this Story
  ELFA Member News 
  • Construction-equipment exports climbed 13% last year
    U.S. exports of construction equipment increased 13% between 2011 and 2012, reaching $26.7 billion, according to the Association of Equipment Manufacturers. In 2011, exports climbed 43% compared with 2010. Last year's modest rise indicates a weaker environment worldwide. LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • Register for the ELFA National Funding Conference: Online appointment scheduler opens March 4
    The 25th National Funding Conference, scheduled April 9 to 11 at the Fairmont Chicago hotel, is going strong, with 40 funding-source exhibitors to date and more planning to register soon. All registered attendees who have established an online profile will be able to schedule an appointment with funding sources that have purchased a "suite on the floor" starting March 4. Get instructions on how to set up a profile and make an appointment with funding sources. If you are not yet registered for the National Funding Conference, you can do so from this website as well.

    Don't forget! Make a hotel reservation before March 19. Call (888) 390-2929 and tell the hotel you will attend the ELFA National Funding Conference. You can also make a hotel reservation online. LinkedInFacebookTwitterEmail this Story
  • Voicing our value and engaging members! Attend Capitol Connections on May 15 and 16
    Registration is open for 2013 Capitol Connections, scheduled May 15 and 16 in Washington, D.C. This annual event gathers members of the association for a series of public-policy meetings with Congress and the presidential administration. ELFA member participation in the political process is more critical than ever. ELFA will schedule personal meetings on Capitol Hill and at a select group of federal agencies, but we need members to amplify our message.

    Bonus: There is no conference fee to attend!

    Register online, and check the ELFA Advocacy website for information on policy issues and talking points. Use Twitter and hashtag #ELFACapCon to spread the word and share your experience. For questions, contact Richard Shanahan at rshanahan@elfaonline.org. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
The man who insists upon seeing with perfect clearness before he decides, never decides. Accept life, and you must accept regret."
--Henri Frédéric Amiel,
Swiss philosopher, poet and critic


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