News Topics

Associations

ECS Financial’s Lipski Elected to ELFA Service Providers Committee

Shari L. Lipski, principal at ECS Financial Services, was elected to serve a two-year term on the ELFA’s service providers business council steering committee. read more

Economy

Durable Goods Orders Down 1.1% in May

New orders for manufactured durable goods in May decreased $2.5 billion, or 1.1% to $228.2 billion, according to the U.S. Census Bureau. read more

Equipment Sector

Global Forklift Truck Market to Grow 7.01% by 2021

According to a new report from Research and Markets, the global forklift truck market will grow at a CAGR of 7.01% from 2017 to 2021. read more

Industry

ECN Capital Plans Normal Course Issuer Bid for Common Shares

ECN Capital plans to file a notice of intention with the Toronto Stock Exchange to commence a normal course issuer bid for its common shares. read more

International

GE Signs $575MM Agreement with Egyptian National Railways

GE signed a letter of intent with the Ministry of Transportation and Egyptian National Railways, worth $575 million, to supply 100 GE ES30ACi Light Evolution Series Locomotives. read more

Lease Accounting

GASB Establishes Single Approach for Reporting Leases

The Governmental Accounting Standards Board issued guidance that establishes a single approach to accounting for and reporting leases by state and local governments. read more

Legal / Fraud

NJ Court Vacates $1.4MM in Attorney Fees in Equipment Lease Dispute

Law360 reported that a New Jersey appeals court ruled to throw out a fee award of more than $1.4 million in attorney’s fees to the counsel of Tangible Secured Funding in an equipment lease dispute. read more

Mergers / Acquisitions

Global Capital, SLM Join Forces to Expand Financial Services Portfolios

Global Capital, a woman-owned equipment financing firm, announced its newest services partner, SLM Enterprises, a service-disabled veteran-owned startup headquartered near Nashville, TN. read more

New Ventures

National Bank of Commerce Launches Equipment Finance Group

Birmingham, AL-based National Bank of Commerce appointed Gary Bond to establish a new equipment finance group, focused primarily on the trucking industry. read more

Of Interest

Disruption Brings Opportunities and Risk to the Middle Market

A Capital One Commercial Bank study revealed that middle-market companies expect disruption but may be unprepared for the potential downside. read more

People

Caterpillar Announces Hoerr’s Retirement, New VPs

Doug Hoerr, vice president of the material handling and underground division of Caterpillar, has decided to retire from the company. read more

Program Agreements

Regenerative Tech Company Enters Program Agreement with Partners Capital

Alliqua BioMedical entered into a partnership with Partners Capital Group to provide its potential UltraMIST customers with new equipment financing programs. read more

Recent Earnings

SMBC Aviation Capital Reports Pre-tax Profit Up 48% Year/Year

SMBC Aviation Capital reported operating profit was up 25% to $661 million from $1,046 million a year earlier. Pre-tax profit for the 12 months ended March 31, 2017 was $346 million, up 48% from $233 million in 2016. read more

Securitization

Commercial Credit Group Closes Seventh Term ABS Transaction

Commercial Credit Group closed a 144a privately-placed term asset-backed security transaction. The $259,707,000 financing was placed with a broad group of institutional investors. read more

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