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November 26, 2012
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Daily news for the equipment finance sector

  Industry News 
  • Banks target small-business lending for growth
    Small-business lending is expected to be the banking industry's next profit center. Investment banking and mortgage-backed securities are no longer viable growth areas, experts say. Also, regulations that restrict interest on individual loans are pushing banks to small-business lending, said Rohit Arora, CEO of the Biz2Credit Small Business Lending Index. New York Post (11/25) LinkedInFacebookTwitterEmail this Story
  • Caterpillar continues to post sales growth
    Global sales of Caterpillar construction and mining equipment increased 8% in the quarter that ended Oct. 31. It was the 29th consecutive three-month period of growth, but sales in Asia-Pacific weakened. MarketWatch (11/20) LinkedInFacebookTwitterEmail this Story
  • Turkish Airlines reportedly seeks $500M lease deal
    Turkish Airlines is negotiating a leasing arrangement worth about $500 million, bankers familiar with the matter say. The carrier reportedly is weighing the use of enhanced equipment trust certificates for the first time. Reuters (11/23) LinkedInFacebookTwitterEmail this Story
  Market Trends 
  • U.S. data are expected to reflect storm and budget effects
    Factors from the immediate past and the near-term future likely held down consumer spending and business investment last month, economists say. Superstorm Sandy will be reflected in consumer figures, while "fiscal cliff" negotiations probably weighed on business calculations. "What I hear from customers, what I hear from suppliers, what I hear from other CEOs that are running businesses is a real hesitation to step out and make big capital investments, to step out and take on big projects because of the ambiguity of what's going on in the economy," said James Ryan, chairman and CEO of W.W. Grainger, a supplier of tools and equipment. Bloomberg Businessweek (11/25) LinkedInFacebookTwitterEmail this Story
  • U.S. holiday-shopping season gets strong start
    U.S. retail sales during the long Thanksgiving weekend reached $59.1 billion, 12.1% higher than in 2011, according to the National Retail Federation. Online sales for Black Friday, the traditional opening of the holiday-shopping season, topped $1 billion for the first time. Retail sales in November and December are expected to increase 4.1%, the trade group said. Reuters (11/26), PCWorld (11/25), Bloomberg (11/25) LinkedInFacebookTwitterEmail this Story
  Government & Regulatory 
  • U.S. is closer to free-trade deal with Europe
    Momentum is picking up in negotiations that could lead to a free-trade agreement between the U.S. and the EU. Although trade with China gets much publicity, the EU buys more U.S. exports than China. An agreement could increase economic growth in the U.S. and the EU by 1.5 percentage points, according to the American Chamber of Commerce in Germany. The New York Times (tiered subscription model) (11/25) LinkedInFacebookTwitterEmail this Story
  • European banks seek delay of tougher capital rules
    Citing U.S. delays, European banks are urging the European Commission to put off implementation of Basel III capital rules until 2014. "We are now very troubled over the possible repercussions that the most recent statement from the US Authorities may have for the international competitiveness of Europe's banks," a banking group said in a letter to EU Internal Market Commissioner Michel Barnier. Reuters (11/24) LinkedInFacebookTwitterEmail this Story
  • Questions arise as ECB aims to become banking supervisor
    Would a unified supervisor of European banking be more concerned with market stability or financial transfers to struggling eurozone states? This is among questions raised as regulators and lenders seek more information about the European Central Bank's proposal to take on greater oversight authority. Reuters (11/23) LinkedInFacebookTwitterEmail this Story
  • CFTC delays start date for swaps dealers to report data
    The Commodity Futures Trading Commission has postponed the start date for when swaps dealers must report trades to data warehouses. The change gives the industry a common date for beginning disclosure, after concerns were raised about different starting dates for different market participants. Reuters (11/21) LinkedInFacebookTwitterEmail this Story
  ELFA News 
  • Mark your calendar for ELFA's 2013 Best Practices Roundtables!
    ELFA Best Practices Roundtables are small, one-day meetings designed to facilitate the exchange of information among peers. Attendance is by invitation and is open to ELFA member companies only.
    • Bank Best Practices Roundtable: April 9 at the Fairmont Chicago hotel
    • Captives Best Practices Roundtable: April 9 at the Fairmont Chicago hotel
    • Independent Equipment Finance Summit: April 9 at the Fairmont Chicago hotel
    • Tax Best Practices Roundtable: June 24 and 25 at KeyBank in Cleveland

    Watch for additional details by going to the Events & Training section of the ELFA website, or contact Alexa Carnibella at LinkedInFacebookTwitterEmail this Story
  • Looking to recruit?
    Are you looking for top-quality candidates to join your organization? The secret to running a successful company is hiring great people. Set up your organization for success with the ELFA Career Center, the equipment-leasing and -finance industry's premier online employment resource. To post a job opening, visit the ELFA Career Center, create an account and post your job. You'll see results: In 2012, our job postings have received an average of 603 views per job and 15 "Apply" button clicks. Questions? Visit the ELFA Career Center or contact or (866) 964-2765. LinkedInFacebookTwitterEmail this Story
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The passion for setting people right is in itself an afflictive disease."
--Marianne Moore,
American poet and writer

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