News Topics

Associations

AED Names Modern Group President/CEO Farrell to Board

Paul Farrell, president and CEO of Modern Group, was named to the board of directors of the Associated Equipment Distributors, taking effect in January. read more

Economy

Non-Manufacturing Sector Grows for 87th Consecutive Month

Economic activity in the non-manufacturing sector grew in March for the 87th consecutive month, according to data from the Institute for Supply Management. read more

Equipment Sector

AerCap Signs Lease Agreement with New Airline Customer Wamos Air

AerCap Holdings signed a lease agreement with Spanish carrier Wamos Air for a 2003 vintage Airbus A330-200, powered by Rolls-Royce engines, which will deliver to Wamos in June 2017. read more

Industry

CIT Equipment Finance Receives No. 1 Ranking in Konica Minolta Survey

CIT’s equipment finance business earned the highest score in a survey conducted by Konica Minolta Business Solutions. read more

International

Terra Firma Sells Aircraft Leasing Company to Dubai Aerospace Enterprise

The Telegraph reported that Terra Firma, a hedge fund owned by Guy Hands, sold aircraft lessor Awas to Dubai Aerosapce Enterprise. read more

Lease Accounting

Basel Committee Addresses New Lease Accounting Standards FAQs

The Basel Committee issued responses to frequently asked questions related to the changes to lease accounting promulgated by the IASB and the FASB. read more

Legal / Fraud

Marks & Associates Opens Atlanta Office, Adds Shareholder

Marks & Associates opened a new office in downtown Atlanta and added Ian J. Platt as a shareholder. read more

Mergers / Acquisitions

Fund Managed by J.P. Morgan Acquires Beacon Rail Leasing

According to a report posted by the British Times, a fund managed by J.P. Morgan Asset Management has acquired Beacon Rail Leasing from private equity fund Pamplona Capital Management. read more

New Ventures

Penske Truck Leasing Forms Onboard Technology Consulting Group

Penske Truck Leasing established an onboard technology consulting group within its existing operations. read more

Of Interest

Siemens Projects Value for Manufacturers That Embrace Digitalization

A new research paper from Siemens Financial Services examines the potential financial value of digitalization and estimates it to be between 6.3% and 9.8% of total annual revenue by 2025. read more

People

Greenbrier CFO Tekorius Promoted to Executive Vice President

The Greenbrier Companies promoted Senior Vice President and Chief Financial Officer Lorie Tekorius to executive vice president and chief financial officer with expanded responsibilities. read more

Program Agreements

Marlin Launches New Financing Program With NewTek

Marlin Business Services entered into an agreement with NewTek, a change-agent in the video industry, that will enable NewTek customers to acquire the latest video production solutions. read more

Recent Earnings

PACCAR Swings to Profit; Q1/17 Class 8 Orders Up 40%

PACCAR reported Q1/17 net income of $310.3 million compared to a net loss of %594.6 million in Q1/16, which included a European Commission charge of $942.56 million. U.S. and Canada Class 8 truck orders were 40% higher versus Q1/16. read more

Securitization

Ascentium Capital Completes Seventh Securitization

Kroll Bond Rating Agency assigned preliminary ratings to six note classes of Ascentium Equipment Receivables 2017-1 Trust. read more

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Terry Mulreany
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