September 30, 2013--Element Financial Corporation's aviation finance business unit, acting as lessor, lender or lead arranger, has successfully leased or financed more than 100 aircraft since the inception of this business unit in the first quarter of 2012.
September 30, 2013 --Element Financial Corporation, one of North America's leading independent equipment finance companies, today announced that it has entered into a North American vendor finance agreement with Lion Buses Inc. of St. Jerome, Quebec, one of North America's leading manufacturers of the most innovative school buses in the industry.
September 23, 2013 --At its 40th Anniversary conference, CFLA Chairman Jeffery Hartley announced that Paul Zalesky,CEO of AllWest Insurance Services, as the CFLA Member of the Year 2012-2013.
This Award recognizes individuals, volunteers from members, who work quietly for the Association, committed to its goals.
September 20, 2013 --The Equipment Leasing & Finance Foundation (the Foundation) releases the September 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 61.3, steady with the August index of 61.0.
September 9, 2013 --Ritchie Bros. Auctioneers, the world's largest auctioneer, will conduct six unreserved public auctions in Eastern Canada in September. In total, more than 6,500 equipment items and trucks will be sold in the six auctions, located in St. Johns, NL (September 10); Toronto, ON (September 17 - 18); Oakville, ON (September 19); Truro, NS (September 20); Rapides-Des-Joachims, QC (September 23); and Montreal, QC (September 25 - 26). The Company will conduct another unreserved public auction in Eastern Canada in Ottawa, ON on October 17. Bids in all auctions can be placed in person at the auction sites, online in real time at rbauction.com or by proxy.
September 9, 2013 --William G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, released the following statement highlighting recent developments that add to mounting evidence that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) should reevaluate their proposal to overhaul lease accounting.
September 4, 2013 --Intelligent Mechatronic Systems (IMS), a leading Connected Car™ company, is previewing a next-generation IMS Fleet Intelligence solution. The produce was shown this week at Insurance Telematics USA 2013.
September 4, 2013--After 3 years of developing trusted dealer relationships, building solid infrastructure and backed by Sun Life Financial, Canadian Title Loan Corporation (CTL) is migrating its loan origination process to the Dealer Track Network.
September 4, 2013--Canada's manufacturing expansion was sustained for a fifth consecutive month in August, but the rate of growth was modest and below average, according to the RBC Canadian Manufacturing Purchasing Managers' Index™ (RBC PMI™). A monthly survey, conducted in association with Markit, a leading global financial information services company, and the Purchasing Management Association of Canada (PMAC), the RBC PMI offers a comprehensive and early indicator of trends in the Canadian manufacturing sector.
August 21, 2013 --The Equipment Leasing & Finance Foundation (the Foundation) releases the August 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 61.0, an increase from the July index of 59.4, and the fourth consecutive increase of the MCI-EFI.
August 20, 2013--GE Capital’s Commercial Distribution Finance (CDF) business said it has seen positive trends in the Canadian marine, motorsports and recreational vehicle (RV) industries through the first half of the year. It expects favorable conditions to continue into 2014.
August 19, 2013--Davis + Henderson Corporation has completed the US$1.2 billion acquisition of Harland Financial Solutions, a leading U.S.-based provider of strategic technology, including lending and compliance, core banking, and channel management technology solutions.
August 14, 2013--Element Financial Corporation, one of North America's leading independent equipment finance companies, today reported financial results for the three and six month periods ending June 30, 2013 showing strong growth in origination volumes across all of the Company's business verticals. New originations increased 34% to $397.9 million for the three month period versus $296.3 million in the previous period.
July 29, 2013 --Contrans Flatbed Group LP and Travelers Financial Corporation announced a new program to assist Contrans drivers to become new owner/operators. The 'Contrans Flatbed Group Owner Operator Development Program' (OODP) program makes acquisition of new tractors and flatbeds a reality for drivers who want to take the next step in sharing in the success and growth of the company.
July 25, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for June was $8.6 billion, up 8 percent compared to volume in June 2012. Month-over-month, new business volume was up 15 percent from May. Year to date, cumulative new business volume increased 10 percent compared to 2012.
July 24, 2013 --Transat A.T. Inc. announces the signing of an agreement with the U.S.-based International Lease Finance Corporation (ILFC) for the long-term (eight-year) leasing of four Boeing B737-800 aircraft. These planes will be introduced in summer 2014 and become the core of Air Transat's permanent narrow-body fleet. They will be used on sun-destination routes to Mexico, the Caribbean and Florida. The agreement also includes the renewal through 2020 and 2021 of the leases on six Airbus A330 aircraft—three A330-200s and A330-300s—with improved terms.
July 22, 2013--The Equipment Leasing & Finance Foundation (the Foundation) released the July 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market is 59.4, an increase from the June index of 57.3, reflecting industry participants’ increasing optimism despite continued moderate demand for equipment.
July 10, 2013 --U.S. Investment in equipment and software is expected to grow 4.8 percent in 2013, according to the Q3 update to the 2013 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation.
June 18, 2013--How best to maintain auditor independence and enhance professional skepticism are among the key recommendations emerging from a Canadian consultation effort that examined proposed international reforms aimed at adding value to financial reporting.
May 14, 2013 --IRON Solutions will supply its IRON Index data to J.P. Morgan Equity Research for the J.P. Morgan quarterly report on the North American used agricultural equipment market.
Ann Duignan, Machinery Equity Analyst at J.P. Morgan, will publish the information from the IRON Index, which is IRON Solutions' measurement of pricing levels in the used agricultural equipment market. This information is aggregated by IRON Solutions from dealer, auction, private party, and manufacturer-owned used equipment sales transactions.
May 4, 2013--Element Financial Corporation, one of North America’s leading independent equipment finance companies, has commenced rebranding the operations of the recently acquired CoActiv Capital Partners under Element’s North American identity. Effective immediately, the legal name of CoActiv Capital Partners, Inc. has been changed to Element Financial Corp. doing business as Element Financial (USA).
April 25, 2013 --GE Capital's Commercial Distribution Finance (CDF) business is adding resources to support Canadian manufacturers and dealers of agricultural equipment. Through increased credit capacity and an expanded, experienced sales force, CDF plans to significantly grow its presence in this important sector of the economy.
April 25 --Ontario Teachers' Pension Plan (Teachers') acquired SeaCube Container Leasing Ltd. (SeaCube) following approval of the transaction by shareholders of SeaCube at a special general meeting held on April 23, 2013.
April 22--Cat Financial reported first-quarter 2013 revenues of $680 million, an increase of $12 million, or 2 percent, compared with the first quarter of 2012. First-quarter 2013 profit after tax was $141 million, a $21 million, or 18 percent, increase from the first quarter of 2012.
April 19, 2013 –-The Equipment Leasing & Finance Foundation (the Foundation) released the April 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 54.0, an easing from the March index of 58.0, reflecting industry participants’ continuing concerns over the economy and the impact of federal policies on capital expenditures.
April 18, 2013--Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, will conduct a massive three-day heavy equipment auction in Edmonton, AB on April 24 - 26, 2013. More than 5,000 heavy equipment items and trucks will be sold in the auction—every item will be sold to the highest bidder, regardless of price—without minimum bids or reserve prices.
At the turn of the year, I wrote that the global auto market looked set for a year of subdued growth outside of hotspots such as China and India, but in the US the sector would certainly see a continued rise in sales. Since then, the US auto market has indeed continued to perform well, aided by modest economic recovery and greater availability of credit. The hazard of the ‘fiscal cliff’ has been sidestepped, if only for the short term, and the stock market has outperformed expectations, indicating that confidence is growing and that perhaps the economy really is on the mend.
April 4, 2013--Small U.S. businesses cut back on borrowing in February for a second straight month, hinting at slower growth ahead even as other economic data shows the recovery picked up in the early part of the year.
April 3, 2013--Profits in Canada's computer and electronic product manufacturing industry slipped to a nine-year low in 2012. In 2013, the industry is counting on a revival in Blackberry's fortunes for a rebound in its bottom line, according to the Winter 2013 outlook for the industry, part of the Canadian Industrial Profile.
April 3, 2013 –-Investment in equipment and software in the US is expected to grow 5.6 percent in 2013, according to the Q2 update to the 2013 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation.
The ADESA Canada Used Vehicle February Price Index has been updated through February. The index was up slightly after being adjusted for seasonality. Wholesale prices rose on average by about 0.1% M-o-M.
March 28, 2013 —Forest, paper & packaging (FPP) CEOs are less confident about revenue growth over the next 12 months than their peers in other sectors, but are more optimistic about their company’s revenue prospects in the next three years, according to PwC’s 16th Annual Global CEO Survey released recently in Davos, Switzerland.
March 25, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for February was $4.7 billion, down 6 percent from volume of $5 billion in February 2012. Month-over-month, new business volume was down 20 percent from January. Year to date, cumulative new business volume was up five percent compared to 2012.
March 21, 2013 --Canadian Tire today opened its new digital development lab in Silicon Valley North, joining nearly 1000 companies as the first retail partner in Communitech which supports tech companies at all stages of their growth and development — from startups to rapidly growing SMEs, to large global players — in the commercialization of innovative technologies.
March 21, 2013 --The Equipment Leasing & Finance Foundation's March 2013 Monthly Confidence Index for the U.S. Equipment Finance Industry (MCI-EFI) shows a slight decrease in March compared to February.
March 20, 2013 --Non-residential construction growth in Saskatchewan has been leading the country and other industries over the past decade, and that is not about to change - at least for the next couple of years.
March 20, 2013 --A new joint marketing program aimed at heavy-duty trucking customers may mean investment opportunities for lenders. The program by Westport Innovations Inc and Clean Energy Fuels Corp helps firms implement new on-board fuel storage, high-performance natural gas engines, and reliable fueling options for natural-gas trucking.
March 18, 2013 --Each year, U.S. businesses, non-profits and government finances more than $600 billion in capital goods or fxied assests, which means trends in those sectors has an impact on the North American economy. The Equipment Leasing & Financing Association examines the top trends impacting those markets, to to help businesses with their strategic equipment
March 14, 2013 --With a goal to balance the books by 2015, the Conservative government is expected to stay the course in its approach to the federal budget this year, KPMG predicts. However, the firm also expects the budget to explore expanding the accelerated capital cost allowance to encourage construction of domestic infrastructure in the oil and gas sector.
March 12, 2013 --Odessa Technologies, Inc. the developer of the LeaseWave suite of products, a fully integrated end-to-end lease and loan management solution, announced the introduction of a new product for companies looking to better manage their end of lease processes.
March 11, 2013--Maaco, part of the Driven Brands family of automotive brands, is re-launching the Maaco fleet services as Maaco Fleet Solutions. The company has a ten-year track record as a market leader in fleet auto body repair with a national network of over 250 certified locations providing flexible options for fleet managers.
March 8, 2013 —Construction contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2013, according to a survey by Wells Fargo Equipment Finance, Inc. As part of its 2013 Construction Industry Forecast, Wells Fargo’s Construction Optimism Quotient (OQ) – the survey’s primary benchmark for measuring contractor and equipment distributor sentiment – is at 106 for 2013, marking the second consecutive year with an optimistic reading.
March 7, 2013--For decades International AutoSource has been providing expat car financing and leasing to foreign expats in the United States. Through their new partnership with Corporate Fleet Services, International AutoSource is now able to assist foreign expats in Canada with the financing or leasing of a vehicle without a Canadian credit history.
March 10, 2013--Ritchie Bros. Auctioneers , the world's largest industrial auctioneer, sold more than CA$57 million (US$55+ million) of heavy equipment and trucks during an unreserved public auction at its permanent auction site in Edmonton, Alberta last week, on March 7 & 8, 2013.
February 28, 2013--Commercial borrowing by small and medium-sized businesses in Canada hit its highest level since 2008 in the last three months of 2012, and a much smaller percentage of the businesses were behind on their payments, according to a PayNet survey released on Thursday.
February 26, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for January was $5.9 billion, up 16 percent from volume of $5.1 billion in the same period in 2012. Volume was down 49 percent from December, following the typical end-of-quarter, end-of-year spike in new business activity.
February 21, 2013--Petrowest Corporation announced it has entered into a new three-year, Canadian $50 million syndicated credit facility with GE Capital Canada. The new facility is comprised of two sub-facilities: a $45 million, six-year, term facility which has been fully drawn and a $5 million capital expenditures facility which is available for one year.
February 17, 2013--Element Financial Corporation reported that record origination levels of $689.3 million contributed to revenue of $57.9 million, operating income of $14.9 million and operating income per share of $0.14 on an after-tax basis for the twelve month period ended December 31, 2012.
February 11, 2013 --hmv Canada, a music and entertainment retailer, announced the signing of a new three-year $25 million credit agreement with Wells Fargo Capital Finance that will provide additional working capital support for the daily operations of the business.
January 15, 2013 --The Alta Group, a global equipment leasing and finance consultancy, announced the development of a new vertical industry focus, Diversified Industries, to be headed by Paul W. Frechette, a senior managing director. Alta also appointed Valerie L. Gerard to head its Management Consulting Practice.
November 8, 2012--The sentiment of Canadian chief financial officers (CFOs) of middle-market companies on the state of their own industry and the strength of the national economy remained steady and positive in the third quarter, according to the latest GE Capital Mid-Market CFO Survey. CFOs' view of the world economy was unchanged and remains less optimistic than about the national economy.
February 7, 2013- The growth in the use of electronic payment products, such as credit and debit cards, added US$9.7 billion to the Gross Domestic Product (GDP) of Canada over the past four years, according to a study conducted for Visa by Moody's Analytics, a leading independent provider of economic forecasting.