News Topics

Associations

ATA Hires Drake as Senior Vice President of Legislative Affairs

American Trucking Associations hired John Drake as its newest senior vice president of legislative affairs. Drake previously held posts with the Department of Transportation and other federal entities. read more

Economy

PayNet Canadian Small Business Lending Index Down 9% Y/Y

The PayNet Canadian Small Business Lending Index increased 3% to 119.9 in November 2016 from 116.5 in October 2016. Compared to the same month one year ago, the CSBLI is down 9%. read more

Equipment Sector

ACT: Class 8 Demand Realignment Ahead, MD Continues Positive Trend

According to ACT Research, North America Class 8 retail sales firmed into the end of 2016 in seasonal fashion, rising to a six-month high of 21,281 units sold, and bringing the full-year sales total to 249,952 units. read more

Industry

Wells Fargo Announces New Structure for International Business

Seeking to better align its international banking services with the customers they serve, Wells Fargo announced its International Group will be integrated into other Wholesale Banking business lines. read more

International

CDB Aviation Lease Finance Appoints Chang President/CEO

CDB Aviation Lease Finance, the aircraft leasing unit of China Development Bank Financial Leasing appointed Peter Chang as its new president and CEO. read more

Lease Accounting

Texas Comptroller Denies Retroactive Chapter 163, Aircraft Sales Taxation

The Texas comptroller said that Chapter 163 of the state tax code will not be applied retroactively irrespective of the state legislature's stated intent that Chapter 163 was a clarification of the existing law. read more

Legal / Fraud

Justice Department Settles $864MM Case Against Moody’s

The Justice Department, 21 states and the District of Columbia reached a $864 million settlement agreement with Moody’s arising from conduct in the lead up to the financial crisis. read more

Mergers / Acquisitions

UniFi Equipment Finance Parent Merges with Bank of Birmingham

Bank of Ann Arbor completed its merger with the Bank of Birmingham. BOAA is the parent company of UniFi Equipment Finance. read more

New Ventures

Texas Capital Bank Launches National Public Finance Practice

Texas Capital Bank hired Scott Kuhn, David Roeder and James Sult to launch its national public finance practice. read more

Of Interest

BigRentz Appoints Cannon President and COO

Equipment rental network BigRentz appointed Scott Cannon president and chief operating officer. Cannon most recently served as CEO of MNX Global Logistics. read more

People

Wells Fargo Names Richard Yorke COO of Wholesale Banking

Richard Yorke, who previously headed the International Group, was named chief operating officer of Wells Fargo Wholesale Banking, reporting to Perry Pelos, senior executive vice president and head of Wholesale Banking. read more

Program Agreements

Wex, OnDeck Enter Financing Partnership Agreement

WEX, a provider of corporate and small business payment solutions, announced a partnership with OnDeck. WEX will offer business financing from OnDeck to its small business customers. read more

Recent Earnings

GATX FY/16 Rail North America Segment Profit Down 15.2%

In its Q4/16 earnings release, GATX reported Rail North America segment profit of $321.9 million in 2016, compared to $379.5 million in 2015. read more

Securitization

Floreat Group Cements Aviation Finance Standing Via Securitizations

The London-based Floreat Group is embarking on a securitization program, which will include a first issuance of up to $175 million in December linked to a portfolio of four leased Airbus A330s. read more

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