News Topics

Associations

ELFA Website Earns AVA Digital Award

The Equipment Leasing and Finance Association earned a Platinum Award in the 2017 AVA Digital Awards, an international competition that recognizes excellence in digital communication. read more

Economy

Unemployment Rate Stays Steady; Financial Sector Adds Jobs

Total non-farm payroll employment increased by 227,000 in January, and the unemployment rate was little changed at 4.8%, the U.S. Bureau of Labor Statistics reported. Job gains occurred in retail trade, construction and financial activities. read more

Equipment Sector

Air Lease Enters Lease Placement of Airbus Aircraft with Air Mauritius

Air Lease entered into long term lease agreements with Air Mauritius for two new Airbus A330-900neo aircraft, outfitted with latest-generation Rolls-Royce Trent 7000 engines. read more

Industry

Equipment Finance Industry Confidence Takes a Step Back in February

Confidence in the equipment finance market is 72.2, leveling off after January’s all-time high index of 73.4, according to the Equipment Leasing & Finance Foundation’s February 2017 Monthly Confidence Index. 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

Banc of America Leasing Files to Collect on Machine Tool Equipment

Banc of America Leasing & Capital has filed a complaint against Breakwater Advanced Manufacturing alleging the borrower and guarantors failed to perform on their contractual obligations. read more

Mergers / Acquisitions

CCG Acquires Manufacturers Capital Machine Tool Finance Business

Commercial Credit Group purchased the machine tool finance business of Manufacturers Capital, expanding into the machine tool and manufacturing industry. read more

New Ventures

Pacific Western Launches Tax-Exempt Lending Group

Pacific Western Bank launched a Tax-Exempt lending group and hired Christopher Baron and Daniel Bronfman to lead the bank’s efforts in the government sector and non-profit sector, respectively. read more

Of Interest

Penske Truck Leasing Debuts in Katy, TX

Penske Truck Leasing opened a new location in Katy, TX where it will offer full-service truck leasing, consumer and commercial truck rental and contract fleet maintenance services. read more

People

Amalfitano New CEO of Embraer Executive Jets Business Unit

Embraer appointed Michael Amalfitano as the president and CEO of its Executive Jets business unit. read more

Program Agreements

Zyxel Partners with LEAF to Provide Equipment Financing Options

Zyxel Communications, a provider of secure broadband networking, internet access and connected home products, entered an exclusive financing partnership with LEAF Commercial Capital. read more

Recent Earnings

Rush Enterprises 2016 Class 8 Sales Down 35.9%

In 2016, Rush Class 8 retail sales accounted for 5.5% of the total U.S. Class 8 market, compared to 6.7% in 2015. The company sold 10,816 Class 8 trucks in 2016, a decrease of 35.9% compared to 2015. read more

Securitization

Kroll Assigns Ratings to SCF Equipment Contract Backed Notes

Kroll Bond Rating Agency assigned preliminary ratings to four note classes of SCF Equipment Leasing 2017-1 equipment contract backed notes, series 2017-1. read more

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Terry Mulreany
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