• Movement to Operating Leases
• Management  Strategies For Success – Learning From Mature Markets

A Movement to Operating Leases is an A to Z on the subject of operating leases.  This seminar is for those either currently engaged in the product or not.  The former group will gain a thorough understanding on how to maximize profits; the latter group will be provided with a road map to offer the product

Management Strategies for Success, rarely offered as a public seminar, is for those either currently in middle or top management or those in line to succeed.  Both groups will learn strategies and techniques used by successful mature market lessors

Do not miss this opportunity to attend either or both of these two events conducted once each year in the region!

If you wish to receive further details, including objectives and substantive outlines, please email Kelly Farnham at kelly@amembalandassociates.com.

The conclusion was that it is crucial to strike the right balance between the need for financial stability and ensuring sufficient access to finance for SMEs in the real economy. To that end, it is likely that the risk weights for SME loans will need to be revised when implementing the Basel III rules on capital requirements in the EU. Additionally, alternative sources of funding, such as equity–oriented instruments and leasing should be further developed and encouraged.

The need for a new framework to increase the resilience of the financial system is commonly accepted by all. However, many stakeholders, including regulators, the banking industry, as well as small businesses and their advisors, have warned that Basel III and its European version, the Capital Requirements Directive (CRD IV), which require banks, amongst others, to hold more capital, is likely to have a disproportionately negative impact on small and medium sized enterprises’ (SMEs) access to finance, even though this sector had little to do with the causes of the financial crisis. In Europe, given our SMEs’ greater dependence on debt financing, the impact is likely to be even more adverse and it is more important than ever to develop alternative sources of funding, such as venture capital, micro credit, or leasing, including vehicles such as the new European Programme for the Competitiveness of Enterprises and SMEs (COSME).

Othmar Karas, MEP Rapporteur on CRD IV, warned that “SMEs must not disproportionately bear the cost of increased financial regulation” and noted that “there is a broad consensus amongst the industry and EU decision makers that risk weights for SMEs lending must be adjusted now. The European Banking Authority must undertake its review of the CRD IV, including appropriate risk weights, as a matter of urgency”.

UEAPME’s Economic and Fiscal Policy Director Gerhard Huemer further explained that “we need to make sure that guarantees given by guarantee institutions and mutual guarantee schemes are fully recognised by the regulation as a risk mitigating tool and are appropriately used at national levels. Given that loans will remain an important source of finance to SMEs in the future, it is also very important to explore ways to ease access to finance through alternative financial instruments such as venture capital, leasing, private equity, or business angels”.

Jochen Jehmlich, Managing Director of GEF A (Societe General Equipment Finance) representing Leaseurope, added that “Leasing plays a crucial role in financing SME’s investment, with 40% of all European SMEs making use of this means of financing and an estimated €100 billion in SME investment financed through leasing in 2010. The EU implementation of Basel III should thus be designed and applied in a proportionate manner to leasing activities and it is vital to ensure that no unintended consequences arise from the changes made to the credit risk mitigation framework for physical assets under the CRD IV proposals”.

Robin Jarvis, Head of SME Affairs at ACCA concluded by adding: “It is widely recognised that SMEs make a massive contribution to the EU economy. If the economies of the member states are to break through this plague of austerity and recession, it is critical that they have the opportunity to raise debt finance from banking institutions. Basel III must not be a constraint on these enterprises to raise debt finance.”

“Jonathan is a proven leader in the equipment financing industry and brings to Key Equipment Finance more than 17 years of experience driving growth and exceeding operating plan targets,” said Richard McAuliffe, country manger of Key Equipment Finance’s Canadian operations. “He has a strong background in structuring complex transactions that will be of great value to our vendor partners and end-user clients. I look forward to working with him in this new role.”

Prior to Key Equipment Finance, Katz held various positions of increasing responsibility at GE Capital Canada Inc., most recently as manager, intermediary funding. Previously, Katz worked in a variety of sales and management positions at Maximum Financial Services and IBM Canada Ltd.

Katz has a Bcom degree in commerce and marketing from the University of South Africa.

ADNL has provided Sanad with a fully underwritten long-term lease facility in support of the purchase and lease-back of five (5) GE90 and six (6) Rolls Royce Trent 500 engines. Each engine is contracted for a 10-year operating lease term.

Troy Lambeth, Chief Executive Officer (CEO) of Sanad said: “This is an important milestone for Sanad in attracting commercial debt at an early stage and with a key cornerstone customer in Etihad Airways. We are thrilled to have ADNL as a partner in this transaction and excited to explore other areas where we can expand our relationship through other transactions in our shared mandate to establish Abu Dhabi as a global aerospace hub.” The transaction takes the total contracted value of Sanad’s long term engine and component access and leasing transactions to well over $500 million since its launch in 2010. Yousef Abdulla Yousef, the Managing Director of ADNL, said: “ADNL is delighted to announce our partnership with Sanad on this important transaction with Etihad Airways and we see further opportunities to expand our relationship with both companies as they continue to grow.

“ADNL’s commitment in this transaction reflects our confidence in the Sanad team, the strength and reputation of their investor groupand the quality ofSanad’s growing aircraft engine and component portfolio, as well as our continuing support to Etihad Airways and to Abu Dhabi’s economic vision

“This is a landmark transaction and it will enable ADNL to strengthen its role in the aviation asset financing business and further diversify ADNL’s aviation asset portfolio from wide-bodied aircraft to engines” said Jawaid Abdulla, Vice President at ADNL. ADNL provides a variety of lease and lease-finance facilities to large UAE, GCC and international corporate entities operating in the UAE.

A newly launched web portal offers lessors, government officials, and airlines an expert source for the various aviation laws across Africa and a directory of aviation-experienced attorneys ready to help.

The Aviation – Education, Resource & Information for African Lawyers (AERIAL) network (www.aerial.aero), is a not-for-profit initiative set up and sponsored by GE Capital Aviation Services Limited (GECAS), the mercial aircraft leasing and financing arm of GE. It is open to both private-practice and in-house lawyers and is free to join.

Lawyers in the network can use the portal to share information and expertise on African countries’ aviation laws, Cape Town ratification, and open skies treaties, as well as share knowledge on noise, safety, or environmental issues.

Read more: http://www.4-traders.com/GENERAL-ELECTRIC-COMPANY-4823/news/GENERAL-ELECTRIC-COMPANY-GE-Capital-Aviation-Services-Builds-Online-Resource-for-Aviation-Law-in-Afr-14033287/

Arni Thorsteinson, president & CEO, Temple REIT, Inc., said, “GE Capital proved to be very responsive to our needs and we are very pleased with the execution of this transaction.”

“We are very pleased to be able to support Temple REIT in this acquisition,” explained Edward Khediguian, senior vice president, GE Capital, Franchise Finance, Canada. “We have financed over $1B in hotel transactions in Canada over the last 10 years, and remain committed to the industry.”

Temple REIT is an open-ended real estate investment trust focused on owning and acquiring hotel properties in primary and secondary markets across Western Canada.  The REIT owns and operates 11 properties (1,375 guest rooms) across Western Canada with 7 hotels (768 guest rooms) located in the Fort McMurray market.

Offering 134 guest rooms, over 5,600 SF of flexible meeting space, indoor pool, whirlpool, fitness centre, restaurant and business centre, the Radisson Hotel & Suites Fort McMurray has been an integral part of the region’s hotel market since 2003. The Hotel is located along Highway 63 midway between downtown Fort McMurray and the MacKenzie Industrial Park.  Fort McMurray is considered to be the heart of the Alberta Oil Sands and home to the largest concentration of energy commerce in the country.

“It’s a nice milestone for us to achieve,” Ritchie Bros. CEO Peter Blake said of the auction held last week. “Our previous record was in ’08. That was $190 million US in gross auction proceeds – the value of everything sold. In more than 50 years of business, we have never held or seen an equipment auction of this magnitude.”

Read more: http://www.timescolonist.com/business/Ritchie+Bros+holds+record+heavy+equipment+auction/6190158/story.html#ixzz1n7N5Q3v9

The brief online questionnaire is at http://www.tbfgroup.com/chargeoff.html.  TBF will buy charged-off accounts up to three years old, said Robert Boehm, a principal and founder of TBF Financial, the company he launched in 1998 after a successful career as an attorney.  His company will review submissions it receives online and follow that with a price subject to completing its due diligence.

“Obtaining a price online does not obligate the interested seller to sell.  It only gives them an idea what their charged-off accounts are worth.  If they want to consider selling, they then can so inform TBF, and the due diligence process will commence,” Boehm said.  “Sales will usually be closed in seven days after submitting the due diligence information.”

While lease charge-offs went down to 0.7 percent at the end of 2011 from a peak of 2.5 percent in 2009, according to data from the Equipment Leasing and Finance Association, the selling of charge-offs represents an ongoing need for many equipment leasing and finance companies.  Selling recoups significant losses and reinforces overall profitability, Boehm said, noting that the gain is immediate for the sellers.  Recoveries on charged-off accounts are profits for accounting purposes and go directly to the seller’s bottom line, he added.

Lenders are concerned that President Barack Obama’s proposed 2013 budget and the political scuffling in Congress may leave the U.S. Small Business Administrationand U.S. Department of Agriculture with inadequate loan-guarantee authority to satisfy the needs of small-businesses owners. If that happens, and “guarantee coffers are low, the borrower needs to worry if their loan will be approved before the program runs out of money,” says Mike Rozman, co-president and chief strategy officer of BoeFly.com. The New York City-based company matches borrowers with lenders online. Of further concern, he notes that “there is still limited conventional financing for start-ups.”

Before the financial meltdown and the Great Recession, start-ups were able to get financing when the applicant had related experience, invested approximately 20-percent equity into the venture and pledged collateral. That has changed drastically and fledgling entrepreneurs are left with few, if any alternatives. For more mature companies, however, “we’ve seen an increase in conventional lending over the past six months for existing profitable businesses seeking to expand or refinance debt,” Rozman says.

Read the full story: http://www.huffingtonpost.com/jerry-chautin/small-business-financing-_b_1286823.html

Boeing Co. faces a potentially damaging disruption in financing of new aircraft deliveries due to a political fight in Washington over The Export-Import Bank of the United States.

Ex-Im has used up $90 billion of its $100 billion authorization limit. The bank is requesting its cap be increased to $140 billion but political squabbles during this election year are delaying Congressional action.

Read more: http://online.wsj.com/article/SB10001424052970204369404577208811063650928.html?mod=googlenews_wsj

The notes may be priced to yield about 85 basis points more than the benchmark mid-swap rate, the people said. Credit Suisse Group AG, HSBC Holdings Plc and Deutsche Bank AG are managing the deal. The bonds are being issued by GE Capital European Funding.

Read more: http://www.bloomberg.com/news/2012-02-20/ge-capital-said-to-sell-three-year-euro-denominated-bonds.html

Read more: http://www.neurope.eu/article/ifc-supports-agri-leasing-tajikistan

–Revenues of $187.1 million and earnings per share of $0.71 for the fourth quarter; revenues of $487.0 million and earnings per share of $0.41 for the full year

–Eastern coal car replacement cycle continues

FreightCar America, Inc. RAIL -0.63% today reported results for the fourth quarter ended December 31, 2011, with revenues of $187.1 million and net income of $8.5 million, or $0.71 per diluted share, showing substantial improvement versus the prior quarter and the fourth quarter of 2010. For the third quarter of 2011, the Company reported revenues of $130.1 million and a net loss of $2.4 million, or $(0.20) per diluted share. For the fourth quarter of 2010, the Company reported revenues of $51.0 million and a net loss of $3.5 million, or $(0.29) per diluted share.

The Company delivered 2,489 railcars to customers in the fourth quarter of 2011, of which 2,153 were new cars, 62 were used cars and 274 were leased cars. This compares to 1,515 new railcars delivered in the third quarter of 2011 and 694 new railcars delivered in the fourth quarter of 2010. There were 4,481 units ordered in the fourth quarter of 2011, which included orders for 3,300 rebuilt units. This compares to 2,840 units ordered in the third quarter of 2011 and 331 units ordered in the fourth quarter of 2010. Total manufacturing backlog was 8,303 units at December 31, 2011 compared to 6,311 units at September 30, 2011 and 2,054 units at December 31, 2010.

“The fourth quarter’s positive earnings reflect improved railcar demand as the eastern coal car replacement cycle continued, but this was partially offset by lower service volumes,” said Ed Whalen, President and Chief Executive Officer.

“The demand for coal increased in the fourth quarter as utilities worked to replenish coal stockpiles depleted by the hot summer and Midwest flooding of 2011. Fourth quarter 2011 coal loadings in North America were 2.5% higher than in the fourth quarter of 2010. Coal demand has decreased thus far in 2012 as continued strength in export coal loadings was more than offset by ongoing soft demand from utilities given low industrial power consumption compounded by a very mild winter. We expect to see the eastern coal car replacement cycle continue for some period of time; however, coal will continue to be under pressure from low utility demand and increased utilization of natural gas. We maintain a positive outlook on the eastern coal car replacement cycle, but are mindful of the fact that continued mild winter weather and low industrial production growth may slow new coal car demand,” Whalen concluded.

The Manufacturing segment, which includes new railcar manufacturing, used railcar sales, leasing and major rebuilds, had revenues of $179.2 million in the fourth quarter of 2011 compared to $45.0 million for the fourth quarter of 2010. The increase in revenues reflects an increase in railcars delivered and higher average revenue per railcar. Manufacturing segment revenues were $122.2 million in the third quarter of 2011. Operating income for the Manufacturing segment was $16.5 million in the fourth quarter of 2011, compared to an operating loss of $1.4 million in the fourth quarter of 2010 and operating income of $6.9 million in the third quarter of 2011.

Revenues for the Services segment, which includes railcar repair and maintenance, railcar inspection, parts sales and railcar fleet management services, were $7.8 million in the fourth quarter of 2011. Services segment revenues were $7.9 million in the third quarter of 2011 and $6.0 million in the fourth quarter of 2010. The revenue increase from 2010 reflects a full quarter of contribution from the FreightCar Rail Services business, acquired on November 1, 2010, and a higher volume of parts sales. Services segment operating income was $0.5 million for the fourth quarter of 2011, which was $0.6 million lower than in the third quarter of 2011 due to lower margin parts and repair work mix and $0.5 million lower than in the fourth quarter of 2010.

Corporate costs were $7.6 million for the quarter ended December 31, 2011, which were $1.8 million higher than in the same quarter in 2010 and $1.4 million higher than in the third quarter of 2011. The increases reflect higher compensation and other costs.

The fourth quarter 2011′s effective tax rate of 9.1% included a non-cash benefit of $1.3 million resulting from a change in the Company’s state tax apportionment estimate on deferred tax balances and pre-tax income, and also reflects tax-deductible goodwill.

Cash and cash equivalents and restricted cash as of December 31, 2011 were $103.7 million, compared to $66.8 million as of September 30, 2011 and $64.1 million as of December 31, 2010. The increase in cash reflects the proceeds from the sale of railcars, customer deposits and other working capital changes. The Company’s $30.0 million revolving credit facility remains undrawn.

Railcars under lease totaled $54.7 million at the end of the fourth quarter of 2011 compared to $57.2 million at the end of the third quarter of 2011 and $65.4 million at the end of 2010. The decrease in railcars under lease reflects sales of leased railcars.

“We are excited to work with Odessa in automating and enhancing our end-of-lease management activities including repossessions, end-of-term activities, workouts and remarketing,” says Robert Stark, Senior Vice President of TCFEF. “The ability to fully automate and integrate the end-of-lease process will provide improvements in processing efficiencies and data accuracy and reliability.”

“While it will be a part of the LeaseWave platform, we are designing this solution to be modular and data-source independent so that it can be plugged right into any infrastructure and can work with a multitude of legacy systems,” says Kate Majewski, Associate Vice President at Odessa. “We are also leveraging LeaseWave’s existing architecture and services, such as its extensible workflow layer. This will allow TCFEF to manage equipment coming off lease whether it be in the normal course of business or owing to the lessee’s deteriorating financial condition; users can readily configure the system to reflect their specific business processes and requirements.”

Essentially, the standards will require tenants to place leases on their balance sheets—an enormous line item that consists of anything from office, business and farm machinery to, yes, real estate.

The costs to businesses are expected to be enormous. The Equipment Leasing and Finance Association, which has been tracking the issue, notes that leases account for hundreds of billions of dollars in transactions annually throughout the global economy.

Now, a report commissioned by the US Chamber of Commerce, Real Estate Roundtable, Building Owners and Managers Association, International, NAIOP – Commercial Real Estate Development Association, NAIOP – Inland Empire Chapter, NAIOP – Southern California Chapter and National Association of Realtors, takes a look at what the new rules could mean for commercial real estate, specifically. It isn’t pretty.

Read more: http://www.globest.com/news/12_288/washington/finance/Study-Lease-Accounting-Standards-Will-Cost-Big-Time-318760.html

“We are excited to work with Odessa in automating and enhancing our end-of-lease management activities including repossessions, end-of-term activities, workouts and remarketing,” says Robert Stark, Senior Vice President of TCFEF. “Over the years, we have created many standalone databases to manage these processes.  The ability to fully automate and integrate the end-of-lease process will provide many benefits including processing efficiencies, adherence to risk management policies, data accuracy and reliability, as well as compliance from an accounting and legal perspective.”

“While it will be a part of the LeaseWave platform, we are designing this solution to be modular and data-source independent so that it can be plugged right into any infrastructure and can work with a multitude of legacy systems,” says Kate Majewski, Associate Vice President at Odessa.  “We are also leveraging LeaseWave’s existing architecture and services, such as its extensible workflow layer. This will allow TCFEF to manage equipment coming off lease whether it be in the normal course of business or owing to the lessee’s deteriorating financial condition; users can readily configure the system to reflect their specific business processes and requirements.”

About TCF Equipment Finance, Inc.

TCF Equipment Finance, headquartered in Minnetonka, Minnesota, is the 13^th largest bank-affiliated equipment finance company in the U.S. in asset size.  TCFEF provides financing solutions to companies on a direct basis as well as through programs with vendors and manufacturers in a growing number of select markets such as: Healthcare, Specialty Vehicle, Construction and Manufacturing.  TCFEF is widely recognized as one of the premier equipment finance companies in the United States.  For more information about TCFEF, please visit www.tcfef.com.

About TCF Financial Corporation

TCF Financial Corporation is a Wayzata, Minnesota-based national bank holding company with $19 billion in total assets at December 31, 2011. TCF has over 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF also conducts commercial leasing and equipment finance business in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in over 30 states.  For more information about TCF, please visit www.tcfbank.com.

About Odessa Technologies, Inc.

Odessa Technologies is a software company exclusively focused on the leasing industry. The company is headquartered in Philadelphia, Pennsylvania and employs a staff of 250 people. Odessa is a developer of the LeaseWave suite of products, a fully integrated browser-based lease and loan management solution, providing an end-to-end origination and portfolio management system for equipment leasing and finance, vehicle leasing and fleet management companies. The LeaseWave suite is specifically engineered to be configurable to accommodate even the most complex business model, as evidenced by Odessa’s diverse customer base.

The Dallas-based company said the results are reflective of higher deliveries of railcars and tank barges and an increased level of railcar sales from the leasing portfolio.

Included in the results for the fourth quarter of 2011 was a pre-tax gain of $17.0m related to the final settlement on a disposition of insured flood-damaged property, plant, and equipment. Net income for the same quarter of 2010 was $17.3m, which included a pre-tax charge of $5.9m related to the redemption of the company’s senior notes. Revenues for the fourth quarter of 2011 were $941.5m compared to revenues of $636.0m for the same quarter of 2010.

READ MORE:  http://www.assetfinanceinternational.com/globalnews/americas/5915-trinity-industries-reports-continued-growth-in-lease-fleet

Banks from Singapore, China and Japan have stepped up their activities in the lucrative sector. The realignment has pushed back immediate concerns of a crunch in the $100 billion market for aircraft dominated by Airbus and Boeing, but airlines’ thirst for funds is growing and the newcomers may not be able to satisfy the demand.

BOC Aviation, the aircraft leasing arm of Bank of China, predicts a 42 percent increase in funding needs over the two-year period until 2013.

READ MORE:  http://www.reuters.com/article/2012/02/17/us-airshow-financing-idUSTRE81G0FU20120217

Essentially, the standards will require tenants to place leases on their balance sheets—an enormous line item that consists of anything from office, business and farm machinery to, yes, real estate.

The costs to businesses are expected to be enormous. The Equipment Leasing and Finance Association, which has been tracking the issue, notes that leases account for hundreds of billions of dollars in transactions annually throughout the global economy.

READ MORE:  http://www.globest.com/news/12_288/washington/finance/Study-Lease-Accounting-Standards-Will-Cost-Big-Time-318760.html

          Date:       February 24, 2012
          Time:       9:00 AM ET

Listen via Internet: http://www.snl.com/irweblinkx/corporateprofile.aspx?iid=4089372

Schedule this webcast into MS-Outlook calendar (click open when prompted): http://apps.shareholder.com/PNWOutlook/t.aspx?m=51814&k=3A420EBB

          Toll-free:           (877) 312-5414
          International:       (408) 940-3877

If you are unable to participate in the live call and webcast, the call will be archived in the Investor Relations section of the Company’s website at http://www.marlincorp.com for approximately 45 days.

Marlin Business Services Corp. is a nationwide provider of equipment leasing solutions primarily to small and mid-sized businesses. The Company’s principal operating subsidiary, Marlin Leasing Corporation, finances over 100 equipment categories in a segment of the market generally referred to as “small-ticket” leasing (i.e., transactions less than $250,000). The company was founded in 1997 and completed its initial public offering of common stock November 12, 2003. For more information, visit www.marlincorp.com or call toll free at (888) 479-9111.

        CONTACT: Marlin Business Services
        Lynne C. Wilson (Senior Vice President and Chief Financial Officer)
        888-479-9111
        lwilson@marlinleasing.com

ADNL has provided Sanad with a fully underwritten long-term lease facility in support of the purchase and lease-back of five (5) GE90 and six (6) Rolls Royce Trent 500 engines. Each engine is contracted for a 10-year operating lease term.

Troy Lambeth, Chief Executive Officer (CEO) of Sanad said: “This is an important milestone for Sanad in attracting commercial debt at an early stage and with a key cornerstone customer in Etihad Airways. We are thrilled to have ADNL as a partner in this transaction and excited to explore other areas where we can expand our relationship through other transactions in our shared mandate to establish Abu Dhabi as a global aerospace hub.” The transaction takes the total contracted value of Sanad’s long term engine and component access and leasing transactions to well over $500 million since its launch in 2010. Yousef Abdulla Yousef, the Managing Director of ADNL, said: “ADNL is delighted to announce our partnership with Sanad on this important transaction with Etihad Airways and we see further opportunities to expand our relationship with both companies as they continue to grow.

“ADNL’s commitment in this transaction reflects our confidence in the Sanad team, the strength and reputation of their investor groupand the quality ofSanad’s growing aircraft engine and component portfolio, as well as our continuing support to Etihad Airways and to Abu Dhabi’s economic vision

“This is a landmark transaction and it will enable ADNL to strengthen its role in the aviation asset financing business and further diversify ADNL’s aviation asset portfolio from wide-bodied aircraft to engines” said Jawaid Abdulla, Vice President at ADNL. ADNL provides a variety of lease and lease-finance facilities to large UAE, GCC and international corporate entities operating in the UAE.

“2011 was a very successful year for our company, but we are focused on making a quantum leap in our ability to service small businesses, franchisees, and vendor partners this year. We are confident we have found the right person to lead the charge.”

A graduate of the State University of New York College at Buffalo and Canisius College, Krajewski has a wealth of experience in the equipment finance industry. Before joining Direct Capital, Krajewski held executive-level positions at GE Commercial Finance and CIT.

Direct Capital CEO James Broom said Krajewski’s deep experience and fierce determination make him a perfect fit to lead the sales unit. “Dan brings strong leadership, tremendous knowledge, and proven expertise to the forefront of our sales efforts,” said Broom. “2011 was a very successful year for our company, but we are focused on making a quantum leap in our ability to service small businesses, franchisees, and vendor partners this year. We are confident we have found the right person to lead the charge.”

Krajewski said he looks forward to developing innovative financing solutions for customers across the business spectrum and continuing to improve Direct Capital’s existing solutions.

“Direct Capital is poised to make a big impact in the financial services industry this year with its focus on exceptional service and market-leading products,” Krajewski said. “I was really taken by the company’s unwavering commitment to its customers and partners. I look forward to forging new relationships.”

Strickland, 50, brings nearly 30 years of information technology and infrastructure management experience to the Company including extensive operational experience in the wireless and communications industry. Strickland most recently ran his own consulting firm, providing strategic IT and go-to-market operational planning as well as enterprise IT validation to companies and their customers. From 2006 to 2010 he was senior vice president and chief information officer at T-Mobile USA, responsible for all software development including handsets and related infrastructure elements, the company’s billing, customer care and other related systems and all telecommunications platforms.

“We are pleased to welcome Rob, a seasoned executive who will further strengthen Leap’s executive team and who brings a solid background of information technology, systems and infrastructure management to support our strategic and growth initiatives,” said Doug Hutcheson, Leap’s president and chief executive officer. “Rob’s appointment is an important step as we grow our business in a rapidly changing industry and continue on our path to becoming the leading provider of nationwide prepaid services.”

Prior to joining T-Mobile USA in 2006, Strickland served as senior vice president and chief information officer at EchoStar Communications from 2005 to 2006. From 2004 to 2005 he served as president and COO of Silas Technologies Holdings, leading the company through a reorganization and new business plan. From 2001 to 2004 he served as chief executive officer of Xperts, an IT integration and services company. From 1998 to 2001, Strickland held several chief technology officer positions with Landmark Communications, a privately owned holding company. From 1984 to 1998, Strickland held a number of IT, engineering and programing roles in the cable, education and computer industries. Strickland graduated from Brandeis University with a B.A. in mathematics.

Ingram, who joined Leap in 2008, has held various strategy and finance positions with the Company, most recently as senior vice president, strategy. Ingram also previously served as senior vice president, financial operations and strategy and helped guide the finance and accounting functions during the Company’s previous search for a chief financial officer. Ingram will serve as acting chief financial officer until the Company appoints a replacement. In his joint role, Ingram will assume an executive leadership position overseeing the management of the Company’s finance and accounting functions while also continuing to direct the Company’s strategic and business development activities. The Company will be looking at both internal and external candidates to fill the chief financial officer position and does not expect Ingram to fill the role on a permanent basis.

Ingram has more than 25 years of experience in leading telecommunications and technology businesses. Prior to his time at Leap, he served as president and CEO of Nuera Communications (acquired by AudioCodes, Inc.), an IP voice company that designed and produced telecommunications equipment for converged packet networks. Nuera was a successor company to Pacific Communication Sciences, where Ingram was chief operating officer of the Clarity Products division. He holds an M.B.A. from Harvard and an undergraduate degree in economics from Stanford.

The deal is valued at $300 million. Deliveries commence in January 2013 and continue into 2015.

ICBC Leasing signed a purchase agreement with Airbus for 42 A320 family aircraft in June 2011, which marked the first direct order of aircraft from a domestic Chinese lessor with an aircraft manufacturer.

“As a market leader in China’s financial leasing industry, ICBC Leasing is supported by the largest bank in the world and plans to be among the top lessors in the world within a few years,” said Cong Lin, President of ICBC Leasing. “We are very glad to join hands with IAE to make a new breakthrough in the aviation market, and the excellent performance and great market success of V2500 engines will provide the best support to our plan.”

“We believe the aircraft lessors such as ICBC Leasing are under fast development in China, helping to bring the next major market growth there,” said IAE Executive Vice President of Customer Business Jim Guiliano. “ICBC Leasing’s order will be the first block order V2500 purchase by a local lessor in China.”

“IAE’s overall presence in China includes a network of support systems and infrastructure that is unsurpassed,” Guiliano continued. “We have 17 operators, 11 field offices, training and overhaul facilities and provide final assembly line support at the Airbus final assembly line facility in Tianjin.”

Aircraft powered by the V2500s will be flown both domestically, as well as be placed in other parts of the world.

IAE is a multinational aero engine consortium whose shareholders comprise of Pratt & Whitney UTX -1.85% , Rolls-Royce (RR.L.), Japanese Aero Engines Corporation and MTU Aero Engines. Through 2011, over 4,900 V2500 engines have been delivered and nearly 2000 more engines are on order with close to 200 customers around the world.

ICBC Leasing is a wholly owned subsidiary of Industrial and Commercial Bank of China. ICBC Leasing focuses on three business lines — aviation, shipping and large-ticket equipment. ICBC Leasing has become a pioneer and market leader in the financial leasing industry since its inception in November 2007. With the strong cooperation of its business partners, ICBC Leasing forges ahead with a global vision to build on a market-oriented culture and to offer innovative, tailor-made solutions and professional services. ICBC Leasing owns and manages 72 modern aircraft and has 42 Airbus A320 family and 45 Comac C919 on order as of January 31, 2012.

ChannelOnline, a sales-cycle automation solution, provides resellers with a fast, resourceful, and effective web-based service that automates quoting, ordering, and e-commerce transactions and gives resellers total management control over the complete sales cycle. The ability to offer equipment financing through LeaseStation gives resellers using ChannelOnline access to provide an additional source of financing for their clients.

“Developing a seamless solution that is fully integrated with ChannelOnline’s system is key to providing valuable financial products to every ChannelOnline reseller and their end user customers,” according to Robert Parker, CEO of LeaseStation.

“LeaseStation is a trusted leader in IT Equipment Lease Management, and we are pleased to be partnering with them to facilitate this valuable service through ChannelOnline,” said Debbie Andrews, Vice President of Products and Marketing at CNET Content Solutions “We are always looking for ways to provide additional efficiency and value to the resellers using ChannelOnline, and we are confident this LeaseStation integration will enable increased product and service sales for our clients.”

The first phase of integration is scheduled for February 10, 2012, enabling ChannelOnline users the ability to offer LeaseStation financing to their customers directly from their internal quotes and on their e-commerce stores. The full integration, which enables users to execute the entire leasing process, including final acceptance and PO capture within their ChannelOnline store, is set to launch in April 2012.

Read the full story: http://www.reuters.com/article/2012/02/15/cfm-alafco-idUSL5E8DF27Q20120215

Sparta’s Municipal Lease Program is becoming increasingly popular among towns and cities throughout the United States as an alternative to the traditional “all-cash-up-front” method of acquiring their essential equipment. The emerging preference for the Sparta program is in large part a result of the fact that it enables these municipalities to pay the costs of their equipment over time and avoid the burden of having to place additional strains on annual budgets, especially during these already difficult economic times.

Commenting on the transaction, Motor Officer Michael Hunter of the Sachse Police Department said, “This is our first experience with Sparta’s Municipal Lease division and I can report that the entire process went smoother and easier than we could have hoped. We’re looking forward to a continuing relationship with Sparta for these purposes.”

Chris Karczmarski, Sales Manager at Harley-Davidson of Dallas, the vendor who supplied the motors for this transaction, added, “Working with Sparta’s Municipal Lease professionals is definitely a pleasure. They have a keen understanding of our needs, and they made the transaction as simple and straightforward as possible.”

Anthony Havens, Sparta’s CEO, further commented on the transaction, saying, “Whenever we can assist agencies in meeting their equipment needs in a more practical and economical way, we take a special pride in accomplishing the task. Not only do these local governments deserve to have the newest and most reliable equipment available, but they also deserve to have the most cost-effective means possible for acquiring that equipment.”

Worldwide net sales and revenues for the first quarter increased 11 percent, to $6.767 billion, compared with $6.119 billion last year. Net sales of the equipment operations were $6.119 billion for the quarter compared with $5.514 billion a year ago.

“By completing another quarter of record performance, John Deere has started 2012 on a strong note,” said Samuel R. Allen, chairman and chief executive officer. “These results are evidence of the skillful execution of our operating and marketing plans. They also reflect an enthusiastic response by customers worldwide to our advanced lines of equipment. Maintaining such a high level of execution is especially noteworthy as we move ahead with major new-product launches and significantly expand our global market presence.” Over the last year, Allen pointed out, Deere introduced a record number of products and announced plans to build seven new factories throughout the world. The company also expanded or modernized additional locations in the U.S. and other countries.

Summary of Operations

Net sales of the worldwide equipment operations rose 11 percent for the quarter. Sales included price increases of 4 percent and an unfavorable currency-translation effect of 1 percent. Equipment net sales in the United States and Canada increased 5 percent for the quarter. Outside the U.S. and Canada, net sales were up 21 percent for the quarter, including an unfavorable currency-translation effect of 2 percent.

Deere’s equipment operations reported operating profit of $698 million for the quarter, compared with $646 million last year. Results benefited from price realization and higher shipment volumes, partially offset by increased production costs related to new products and more stringent engine-emission requirements, as well as higher raw-material costs.

Trade receivables and inventories ended the quarter at $9.011 billion compared with $7.416 billion last year. Both figures are equal to 30 percent of trailing 12-month sales.

Financial services reported net income attributable to Deere & Company of $119.1 million for the quarter compared with $118.2 million last year. Results benefited from growth in the credit portfolio, revenue from wind energy credits and a lower provision for credit losses. These factors were largely offset by higher crop insurance claims and increased selling, administrative and general expenses.

Company Outlook & Summary

Company equipment sales are projected to be up about 15 percent for fiscal 2012 and for the second quarter compared with the same periods of the previous year. Included is an unfavorable currency-translation impact of about 3 percent for the year and the second quarter. For the full year, net income attributable to Deere & Company is anticipated to be approximately $3.275 billion.

According to Allen, Deere’s strong performance and positive outlook build momentum for the company’s plans to increase growth and profitability. “Our substantial investment in new products and additional capacity puts Deere on a sound footing to respond to further improvement in key markets that are in the early stages of recovery,” Allen said. “Such investment will help Deere more fully capitalize on the world’s growing need for food, shelter, and infrastructure in the years ahead. In our view, powerful trends of this nature have staying power and represent an exceptional opportunity for the company and its investors.”

Equipment Division Performance

Agriculture & Turf. Sales increased 8 percent for the quarter largely due to higher shipment volumes and price realization. Operating profit was $574 million compared with $558 million for the quarter last year. The improvement was primarily due to price realization and higher shipment volumes, partially offset by increased production costs related to new products and engine-emission requirements, as well as higher raw-material costs.

Construction & Forestry. Construction and forestry sales climbed 22 percent. Operating profit for the quarter was $124 million compared with $88 million a year ago. Contributing to the increase were higher shipment volumes as well as price realization, partially offset by higher raw-material costs.

Market Conditions & Outlook

Agriculture & Turf. Worldwide sales of agriculture and turf equipment are forecast to increase by about 15 percent for full-year 2012, including an unfavorable currency-translation effect of about 3 percent. Farmers in the world’s major markets are expected to experience favorable incomes due to strong demand for agricultural commodities. In addition, John Deere’s sales are projected to benefit from advanced new products being launched throughout the world and from major expansions.

Industry farm-machinery sales in the U.S. and Canada are forecast to increase by about 10 percent in 2012. Overall conditions remain positive and demand continues to be strong, especially for high-horsepower equipment.

Full-year industry sales in the EU 27 nations of Western and Central Europe are forecast to be flat to up 5 percent as favorable conditions in the grain, livestock and dairy sectors outweigh general economic concerns. Sales in the Commonwealth of Independent States are expected to be considerably higher in 2012, while sales in Asia are forecast to increase moderately. In South America, industry sales for the year are projected to be flat to down 5 percent, versus attractive levels of 2011, due to drought conditions in Argentina and southern Brazil.

U.S. and Canada industry sales of turf and utility equipment are expected to increase slightly in 2012.

Construction & Forestry. Deere’s worldwide sales of construction and forestry equipment are forecast to rise by about 18 percent for 2012. The increase reflects somewhat improved market conditions, growth in international markets, and strength in the rental, energy and material-handling sectors. In addition, Deere’s sales are expected to be supported by a range of advanced new products and by geographic expansion. After considerable growth in 2011, world forestry markets are projected to be about the same in 2012 mainly due to economic concerns in Europe.

Financial Services. Full-year 2012 net income attributable to Deere & Company for the financial services operations is expected to be approximately $460 million. The forecast decline from 2011 is primarily due to an anticipated increase in the provision for credit losses, which is expected to move toward a more normal level.

In addition, selling, administrative and general expenses in support of enterprise growth initiatives are projected to be higher for the year. Partially offsetting these items is expected growth in the credit portfolio.

John Deere Capital Corporation

The following is disclosed on behalf of the company’s financial services subsidiary, John Deere Capital Corporation (JDCC), in connection with the disclosure requirements applicable to its periodic issuance of debt securities in the public market.

Net income attributable to John Deere Capital Corporation was $93.3 million for the first quarter, compared with $83.8 million last year. Results improved for the quarter primarily due to growth in the credit portfolio and a lower provision for credit losses, partially offset by higher selling, administrative and general expenses.

Net receivables and leases financed by JDCC were $22.486 billion at January 31, 2012, compared with $20.749 billion last year.

ChannelOnline, a sales-cycle automation solution, provides resellers with a fast, resourceful, and effective web-based service that automates quoting, ordering, and e-commerce transactions and gives resellers total management control over the complete sales cycle. The ability to offer equipment financing through LeaseStation gives resellers using ChannelOnline access to provide an additional source of financing for their clients.
“Developing a seamless solution that is fully integrated with ChannelOnline’s system is key to providing valuable financial products to every ChannelOnline reseller and their end user customers,” according to Robert Parker, CEO of LeaseStation.
“LeaseStation is a trusted leader in IT Equipment Lease Management, and we are pleased to be partnering with them to facilitate this valuable service through ChannelOnline,” said Debbie Andrews, Vice President of Products and Marketing at CNET Content Solutions “We are always looking for ways to provide additional efficiency and value to the resellers using ChannelOnline, and we are confident this LeaseStation integration will enable increased product and service sales for our clients.”
The first phase of integration is scheduled for February 10, 2012, enabling ChannelOnline users the ability to offer LeaseStation financing to their customers directly from their internal quotes and on their e-commerce stores. The full integration, which enables users to execute the entire leasing process, including final acceptance and PO capture within their ChannelOnline store, is set to launch in April 2012.

• Movement to Operating Leases
• Management  Strategies For Success – Learning From Mature Markets

A Movement to Operating Leases is an A to Z on the subject of operating leases.  This seminar is for those either currently engaged in the product or not.  The former group will gain a thorough understanding on how to maximize profits; the latter group will be provided with a road map to offer the product

Management Strategies for Success, rarely offered as a public seminar, is for those either currently in middle or top management or those in line to succeed.  Both groups will learn strategies and techniques used by successful mature market lessors

Do not miss this opportunity to attend either or both of these two events conducted once each year in the region!

If you wish to receive further details, including objectives and substantive outlines, please email Kelly Farnham at kelly@amembalandassociates.com

Since 2010, XTRA Lease has invested heavily in new trailer orders, making late-model equipment accessible to trucking companies and shippers via rental and leasing programs. To keep its inventory updated, the company has ordered nearly 25,000 trailers over the past 2.5 years. In addition, the trailer lessor is refurbishing approximately 1,000 flatbeds to restore them to like-new condition.

“In an economic era in which few companies have the capital resources to keep fleets updated with high-performance, late-model equipment, XTRA Lease will continue to offer new trailers through rental and leasing opportunities,” said Bill Franz, President and CEO. “Shippers haven’t reduced expectations for on-time deliveries. But completing them with an aging, over-the-road fleet is risky.

“We plan on helping fleets reduce their risk by making high-performing equipment available to them,” he added. “Not only will they reduce chances of mechanical failure and breakdowns, fleets can avoid higher maintenance costs inherent with older equipment.”

New dry vans and reefers are due to arrive in XTRA Lease branches from manufacturers’ plants beginning in February. Production will continue through August. The company will continue to install trailer tracking units as a standard feature on vans targeted for the rental fleet.

“There is no other service available on a trailer more powerful than trailer tracking to help fleets reduce costs,” Franz said. “We’re committed to providing a service that helps customers locate dormant trailers faster, enabling them to return under-utilized trailers quickly and save significant rental costs.”

Fuel-saving aerodynamic side skirts and low rolling resistance tires are now standard features on XTRA Lease trailers. Combined, the two features can save fleets an estimated 6.5 percent in fuel costs.

XTRA Lease also announced it will continue a program in 2012 to refurbish approximately 1,000 flatbeds. The company is targeting 1999-2001 model-year flatbed units in its fleet to extend the life of each trailer by about eight years.

Each refurbished flatbed receives:

• Blasting and painting of all steel parts
• New aluminum floors with wood nailing strips (which saves 400 lbs.)
• New air and electrical, including lights
• New wheels
• New brake linings
• Straightening of rub rails and repairing of all welds
• New shocks and airbags (on air-ride suspensions)

Follow us on LinkedIn - Capital goods are essential for establishing and running a production house and in manufacturing wide range of products. Essentially involving capital investments, capital goods are productivity enhancing tangible assets such as heavy machinery, tools, processing equipment, IT/electronic/electrical infrastructure and vehicles among others, which are procured by governments, individuals, and organizations for manufacturing and distributing a wide range of commercial goods.

Although the global economy is still making an unsteady recovery largely as a result of Europe’s debt crisis, capital goods orders from developing countries has been standing up to the pressure providing a glimmer of hope for steady long-term growth. Following the tsunami and earthquake in Japan in early 2011, Japanese manufactured machinery staged increased demand in the international market with strong order inflows stemming from China, South Korea and Thailand. The other leading exporters of capital goods, the US and Germany, also witnessed increase in orders during this period. This is largely because of the fact that excluding Europe, business confidence remains high in developing countries. Currently, the US and Canada also present an encouraging picture as both the economies rebound following temporary reversal of growth inhibiting factors. Europe however remains under the yoke stressed by the sovereign debt crisis and the looming possibility of euro-zone recession.

Growth in capital goods investments over the next few years will be primarily driven by increased use of technology in producing finished goods in various industries. For instance, use of automated workflows in manufacturing and processing industries and increased mechanization of agricultural activity in order to increased yield will especially drive investments in capital goods. Increased focus on infrastructure developments by governments across the globe and subsequent rise in construction activity related to public infrastructure facilities will drive up demand for construction equipment. Manufacturing activities, which have long taken advantage of automation technologies, will continue to remain a dominant consumer of capital goods. Density of industrial robots, for instance, will continue to grow in the automotive, electronics, electronics industry and general manufacturing sectors.

The research report titled “Capital Goods: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Europe, (France, Germany, UK, and Russia), Asia-Pacific (China, India, Australia, New Zealand, and Taiwan), South Africa, Argentina, and Brazil. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit -
www.strategyr.com/Capital_Goods_Industry_Market_Report.asp
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/13/prweb9190712.DTL#ixzz1mMZ9N3pU

Follow us on LinkedIn - Today, telecommunications has become an invaluable tool for both commercial as well as personal use. The industry has come to be known as a significant sector across world economies due to its significant contribution to the socio-economic development. Developing markets such as Asia-Pacific and Latin America present tremendous opportunities for mobile communications sector in the short to medium term period, given the huge investments the markets have been witnessing in developing their mobile communications infrastructure. Like many other industries, during the 2008-09 period, the global telecom industry was hit by the recessionary storm, forcing many companies to reduce their budgetary outlays and critically re-evaluate their network operations and infrastructure. The depressed economic climate even took a toll on customers, as due to shortage of disposable income, many postponed their purchases of various telecommunication services and products, such as mobile phones. However, with world economy entering the recovery mode in 2010, expenditure on both the business and the customer fronts revived significantly.

The industry is now traversing the path of growth, owing to the launch of 3G networks in many countries globally and the rising penetration of mobile phones (including smartphones) particularly in the developing regions such as Asia-Pacific and Latin America. With rising affordability, customers are shifting from wireline to wireless services and are increasingly adopting the latest technologies available in the market. Consequently the demand for 3G and wireless broadband and mobile services is rising at a robust rate in many underpenetrated markets of the telecommunications industry. With such promising trends in the overall telecom industry, the worldwide telecom equipment industry is witnessing a positive climate characterized by new opportunities for expansion. Although the wireline voice segment is following a downward trend, the increasing growth of broadband, Internet, VAS (value added services) and cloud computing services that is straining networks and forcing operators to make big time investments, is spurring demand for a wide range of telecom equipment. In addition, triple-play’ services, comprising the convergence of Internet, phone and television signal on a single wire, is also paving the path for plentiful gains in the telecom equipment sector worldwide.

The global telecom equipment market is expected to be driven by the increasing transition from copper wire to fiber optics, particularly in the broadband segment and the deployment of LTE (Long Term Evolution) networks in many developing markets of the world. Asia-Pacific is expected to maintain its position as the leading market in the telecom equipment industry through 2015, accounting for the highest capital expenditure, mainly driven by the rapid migration from 2G to 3G and rising LTE penetration.

The research report titled “Telecom Equipment: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Germany, Spain, UK, Japan, China, India, South Korea, Middle East and Latin America. The report offers a compilation of recent product introductions, mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit -
www.strategyr.com/Telecom_Equipment_Industry_Market_Report.asp
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/02/14/prweb9194782.DTL#ixzz1mMYAJ0Ez

“In this gradually improving economy, we’re committed to providing our dealerships and their customers with simple, competitive financing options that will make it easier to acquire equipment”

“In this gradually improving economy, we’re committed to providing our dealerships and their customers with simple, competitive financing options that will make it easier to acquire equipment,” said Rich Goldsbury, Bobcat and Doosan president of North America and Oceania.

“Key to our strategy has been the strategic relationship between our business and GE Capital,” added Ed Hetherington, president of Doosan Infracore Financial Solutions. “We’ve relied on our financing provider for its comprehensive suite of financing solutions and extensive web-based customer service capabilities.”

In addition to offering financing, dealers who work through GE Capital benefit from a suite of inventory management capabilities as well as a robust retail program, efficient online tools and dedicated account management.

“Thanks to our expanded relationship with Doosan, we can do even more to help dealers and customers grow their businesses well into the future,” said Jim Kelly, general manager of GE Capital’s Vendor Finance business.

The Cassiopae software implementation was completed in 15 months. Led by a team of consultants from Cassiopae MEA, a subsidiary based in Tunis, the project demonstrates the expertise of Cassiopae’s Tunisian consultants and their capabilities in leading a large-scale project.

Tunisie Leasing is using Cassiopae to manage financial products offered to its customers including car leasing, equipment leasing, and real estate leasing. The Cassiopae software is managing the entire lifecycle of the leasing contract: offers, negotiation, financing request analysis, contract activation, back-office operations, after-sales management, billing and cash flow.

“This successful deployment demonstrates Tunisie Leasing Group’s (TLG) and Cassiopae’s commitment to making this first Cassiopae implementation in Tunisia a showcase and model of methodology applied and project management.”

“The Tunisie Leasing implementation highlights the unique ability of the Cassiopae solution to handle any type of financing, as well as manage financial products in several countries, currencies and languages, whatever the size of the institution, within the initial budget defined,” said Jemil Ben Romdhane, Managing Director of Cassiopae MEA.

“We’re very enthusiastic about the opportunity to work with SL Financial’s management and staff in servicing its existing portfolio along with its financial reporting requirements,” said Gary Silverhardt, President and CEO of Equilease.

Nils Boenicke, Chief Executive Officer of SL Financial, said, “We selected Equilease because of its proven skill in managing a portfolio like ours.  We were seeking a creative and flexible organization that has a demonstrated understanding of our customers and corporate needs.”

SL Financial Services was ranked among the largest bank leasing companies by The Monitor.  As a wholly owned subsidiary of SüdLeasing GmbH, SL Financial Services is part of LBBW Financial Group (Landesbank Baden Württemberg) of Stuttgart, Germany, an A+ rated bank with assets of around EUR 374 billion (as of 31 December 2010) and some 13,000 employees in the Group .

Over the past several years, Equilease has built a robust financial asset servicing infrastructure with seasoned personnel experienced in all aspects of equipment lease portfolio management and financial reporting, including customer service and collections, credit analysis, documentation, billing, accounting, financial and tax reporting, and legal and asset management.  Equilease has obtained an SSAE-16 certification (Statement on Standards for Attestation Engagements No. 16, now the AICPA’s standard for examination of controls at service organizations.) of its leasing services system and the design and operating effectiveness of its internal controls.  Equilease also has extensive experience in rapidly and accurately transitioning portfolios from third parties to its own systems.  Since 2002, Equilease has purchased and transitioned more than thirty equipment lease portfolios representing over $1 billion of original asset cost.

Prior to Trans Recovery Solutions, Mr. Ackerman held positions in the trucking industry with Dickinson Fleet Services Corporate Counsel and most recently with Direct General, Direct Auto Insurance’s parent company, as Vice President of Call Center Operations at their Memphis Claims Center, on Business Park Drive. Mr. Ackerman was offered the opportunity to transfer to Direct General facilities in Dallas, TX or Tampa, FL but decided to stay in the Bluff City area and accept the opportunity presented by Trans Recovery Solutions. As Vice President, Corporate Counsel, Mr. Ackerman will manage and guide their legal department moving forward. “We are privileged that a Debt Collection expert of Lance’s caliber has joined our team,” said Bill McElhaney, President of Trans Recovery Solutions. “Lance’s legal and corporate fleet expense management expertise and more than 20 year history in the transportation industry make him the perfect selection to guide our legal team in the future.” For more information, visit http://www.transrecoverysolutions.com

LEAF Commercial Capital, Inc. (“LEAF”) announces the launch of its enhanced Cost Per Usage billing product, LEAF CPU. In addition to standard CPU billing functions, in this latest version, LEAF has released enhancements which provide equipment vendors with the most up-to-date automated metered billing and reporting systems in the market today. The newly updated LEAF CPU platform can be tailored to meet an individual vendor’s program requirements. Whether an equipment vendor positions their “cost per” product as cost per copy, cost per image, or cost per print, the LEAF CPU offering can be customized to support their unique go to market strategy.

The user-friendly navigation combines all the critical functionality needed to help expedite the processing of CPU contracts. The system was designed with real time data intelligence that proactively monitors meter submissions for accuracy resulting in improved invoicing quality and more satisfied end user customers. Other system enhancements that were implemented with this release are: easy integration into the vendor’s current ERP system, real time notification of error conditions, highly advanced asset management capabilities which enable the vendor to bill and collect meters to meet almost any customer requirement, and instant access to view CPU invoices online allowing an expedited service response to invoice inquiries.

Miles Herman, President and COO, stated, “The latest enhancements to the LEAF CPU platform were developed based on feedback we received from extensive interviews as well as participating in on-site visits with equipment dealers that were experts in this product category. The LEAF CPU platform is built to support the way our vendor customers do business versus having them conform to the way we do business. This latest upgrade of our CPU product is a part of a very aggressive “cost per” and Managed Print Services (MPS) strategy that LEAF is undertaking in order to support the market movement toward a pay per usage selling approach.”

Regardless of how the results of 2011 compared to previous years, there are things that we can and should do differently to generate ample new opportunities and ensure success in 2012.  As originators in the equipment leasing / financing industry we must continually think about strategies and tactics that will help us drive volume and meet higher goals.  There are tools & resources we can use as well as steps we can take to ensure success in 2012.

There have been several occasions when I was pleasantly surprised if not thrilled by new technologies only to find out that the tool had been available for years.  Either, I just wasn’t aware of it and it was new to me or I was aware of it but never thought about trying to apply it toward my business or my sales & marketing efforts.  As you might suspect, I can’t disclose too much or be overly specific about the tools we routinely use at First Star or exactly how we use them for competitive reasons.  However, in an effort to give back and be a good citizen in our industry I will point out a specific resource that every originator can probably derive value from.

Everybody is familiar with Google and most of us probably use it daily for a variety of reasons.  Google is commonly known as a Search Engine.  I always understood Google as a resource to search for information (meaning that the user needed to know what they were looking for in order to find it – as I type this I can’t help but laugh at my naiveté).  However, Google has the ability to deliver information to the user as well – in real time if that is what we choose.  Google accesses, indexes, categorizes, and queries the world’s information.  I am still kicking myself for not identifying the business development value that can easily be extracted from this earlier.

Google News Alerts – to say that I was ecstatic about the potential of this free tool when I first learned about it and realized that it might be applicable to my business would be an understatement.  The team at First Star found humor in my giddiness and I seem to recall someone making a poignant analogy about school girls.  However, after we figured out how to use it for lead generation and funded several six figure deals the joking subsided and we hustled to expand our usage beyond just Brad.

At a NEFA conference roughly a year ago I attended a session on Social Media and the presenter mentioned Google News Alerts somewhat in passing.  At that time we had been using this tool for a couple / few years so it was surprising that the audience seemed to be largely unaware of this free resource.

Google News Alerts are easy to use and anyone with a free account can set up an unlimited number of Alerts.  Alerts are based upon search criteria such as key words, company names, equipment types, etc.  The basic concept is that anytime something shows up online containing your search criteria you will be notified by e-mail.  The user chooses when they would like to be notified – weekly, daily at a specific time, or in real time.

A few hypothetical scenarios that this tool can be used for might be:

• Customers – setting up a News Alert for the company name will notify you anytime they show up online.  This type of Alert might notify you of a contract they are bidding on or were recently awarded, press releases announcing anything from a new product offering, new hires, a recent or upcoming move, etc.
• Vendors – again, setting up a News Alert for the company name might bring you real time information on new equipment that they are going to be marketing, different markets that they are involved in, new personnel that you might want to introduce yourself to, or financial results that you might want to congratulate them on.
• Specific industries or equipment types – if you are interested in expanding your presence in a specific industry you might monitor it to identify other vendors and / or end-users to prospect.  Setting up a News Alert for something such as “Digital Radiology” could identify specific Medical Practices that specialize in this as well as vendors and equipment that are common in this industry niche.
  • A narrower example could be trying to identify authorized resellers / dealers of a specific type of equipment.  Surely, I am not the only one that has called on manufacturers who don’t sell direct to the end-user but rather through a network of regional dealers across the Country.  Sometimes the manufacturer will provide a list of their resellers but many times they will not.  However, you cam compile this list on your own by simply setting up an Alert for the specific brand, make, or model of the equipment you are interested in pursuing.

Some of the readers of WLN might be well aware of this free tool from Google and may have even been using it for sales & marketing initiatives long before it occurred to me.  However, we all have the ability to pursue new strategies for lead generation involving technology and to tactically do things differently.  There are things we all can and should do differently this year and things we should do the same but more of.  I feel that there are plenty of reasons for optimism in 2012 and the originators that use News Alerts to supplement their current lead generation activities will be able to dictate great results this year.

This year’s speakers included Dan North, Chief Economist of Euler Hermes ACI; Tom James, President of the Truck Renting and Leasing Association; and Bob Carrick, Vocational Sales Manager – Natural Gas, Daimler Trucks North America. Two highlights of the meeting were presentations from the National Account sales team who updated attendees on their selling efforts and opportunities they have to collaborate with members and an insightful session from a current National Account customer who shared with members their thought process on how they chose NationaLease as their full service lease provider.

The NationaLease Sales Meeting will now be held each November, with a second meeting to be held this fall. For more information, go to the NationaLease Website or contact Kate Barnes at 856-382-4701 or at kbarnes(at)nationalease(dot)com.

This expansion is in line with the company’s strategy to become the premiere vehicle leasing provider to private and public corporations and institutions throughout the UAE, offering a wide range of best-in-class customized fleet management solutions.

Read more at Jordan Directions: http://www.jordandirections.com/2012021353162/company-news/leaseplan-emirates-opens-dedicated-office-in-dubai

The companies completed operating leases in December 2011 for two Eurocopter EC-225s deliverable in mid-2012 and anticipates closing the leases for three 2011 Sikorsky S-92 helicopters later this quarter. All five helicopters are expected to operate in the North Sea. The total value of the five aircraft is in the range of $125 to $135 million.

Richard Santulli, Milestone Chairman, said, “We are delighted to enter into a financing relationship with Bristow, which operates the world’s largest fleet of commercial helicopters for the offshore oil and gas industry. Our level of commitment combined with the reputation of this world-class operator truly makes this a landmark deal for Milestone.”

William E. Chiles, Bristow Group President and Chief Executive Officer, said, “The terms of these agreements, with Milestone covering 100% of the acquisition cost of the aircraft, meet our commercial needs to better manage our financial performance. What’s more, Milestone brought capital, creativity and commitment to the transaction process. We look forward to building a broader relationship with the Milestone team in the future.”

Today, helicopter operators are utilizing operating leases more frequently to diversify their capital structure, take advantage of the low capital requirements, improve cash flow, reduce risk and increase operational flexibility. Milestone is uniquely positioned to structure and execute lease transactions that meet the diverse needs of operators worldwide and also provide capital to operators during periods when alternative sources are limited or unavailable due to market constraints.

This agreement with Bristow Group marks the largest for Milestone Aviation Group since its launch in August 2010. The company currently has an asset portfolio representing more than $500 million in financing commitments and now holds leases with three of the four largest global helicopter operators in the world.

The LCI unit of Libra has signed an agreement to buy a fleet of AW139, AW169 and AW189 helicopters for use in oil and gas exploration, rescues and medical transport, said George Logothetis, chief executive officer of New York-based Libra. The contract includes a firm order for 19 helicopters, plus 15 options, with deliveries spread over five years. Agusta Westland is a unit of Rome-based Finmeccanica SpA. (FNC)

Read more: http://www.bloomberg.com/news/2012-02-12/libra-buys-agustawestland-helicopters-to-start-leasing-business.html

Read more: http://main.omanobserver.om/node/82894

Read more: http://www.african-aviation.com/index.php?option=com_content&view=article&id=901:starbow-leases-two-additional-bae-146-aircraft&catid=16:africa

Founded in 1960, Summit Aviation did buy and sell aircraft to the government previously but discontinued the service in the early 1990s. Today’s market environment inspired them to revive the services.

“Many of the government and parapublic agencies we work with have had to reduce their budgets,” said President of Summit Aviation Robert Fitzpatrick. “They have been asking us for a solution that would meet their needs for fixed wing or rotorcraft without having to make a capital investment.”

Summit is setting up the line of business to provide aircraft sales and leasing options for both fixed wing and rotorcraft. Fitzpatrick added that should an order for leasing be beyond the financial capabilities of Summit Aviation, they can turn to their parent company’s financial arm, Greenwich AeroGroup Financial Services, to accommodate the customer’s need.

Source: http://www.bloomberg.com/news/2012-02-10/ge-capital-said-to-sell-a-250-million-of-2017-bonds.html

The earnings far exceeded Wall Street expectations and are the result of increased global demand for construction machinery and mining equipment.

The performance caps a record year of profits and revenue for the heavy equipment giant, which recorded surging sales in most markets around the world.

The company said net income for the fourth quarter was $1.55 billion, or $2.32 per share, compared with $968 billion, or $1.47 per share, a year ago. That result was 59 cents above the analysts’ average estimate of $1.73 a share.

Read more: http://www.sunnewsnetwork.ca/sunnews/business/archives/2012/02/20120209-143426.html

Read more: http://money.msn.com/top-stocks/post.aspx?post=a8072d56-cce5-49e7-9483-e7d99b1c3f07

Read the full story: http://news.investors.com/Newsfeed/Article/141140440/201202091028/HandE-Equipment-Services-Shares-Up-443-Since-SmarTrends-Buy-Recommendation-HEES-.aspx

Read the full story: http://news.am/eng/news/92775.html

Mr. De La Houssaye has held a number of senior management, syndications and sales positions at firms such as Bank One, Fleet Capital, Bell Atlantic and Cargill.   He has a demonstrated track record of success having financed a number of large coal mining projects, oil and gas pipelines, refineries and oil field equipment including pioneering the use of leasing for refinery catalysts.  Brian’s in-depth knowledge of energy equipment, tax and accounting guidelines, players within the energy industry and the capital markets that serve this sector is a great fit for growing the Energy Finance portfolio of ATEL.

“The energy finance sector touches all of our investing bases; strong creditworthy lessees, fair market value structured leases, long-lived infrastructure equipment and consistent cash flow.   We are confident that Brian’s experience, personality, work ethic and relationships in the capital markets arena and with oil, gas and coal producers will allow us to aggressively grow our energy finance division”, commented Bill Bullock, National Sales Manager.

ATEL Leasing Corporation is a subsidiary of the ATEL Capital Group family of companies which includes ATEL Securities Corporation, ATEL Equipment Corporation and ATEL Ventures. ATEL Leasing Corporation emphasizes competitive and creative financing solutions to investment grade rated companies for long-lived industrial assets. For more information visit www.atel.com

REGISTER TODAY

Presenter: Ken Kies
Cost: Members/Free; Non-members/$30

Session Description:

• Tax and Budget Outlook for 2012
• The Role of Presidential Politics
• Our Fiscal Picture
• Possible Game Changers for 2012
• A Look to 2013

Kenneth J. (Ken) Kies is Managing Director of the Federal Policy Group (FPG), a division of Clark & Wamberg LLC. FPG provides sophisticated strategic and technical tax advice on tax policy matters before the Congress, the U.S. Treasury Department, the Internal Revenue Service, and the OECD.

Mr. Kies has delivered significant legislative and regulatory results for his clients, which include major corporations, trade associations, and coalitions of companies with common objectives. Mr. Kies has led coalition efforts to enact legislation responding to the World Trade Organization’s ruling against U.S. foreign sales corporation benefits, to avert enactment of broad “corporate tax shelter” legislation that would have an adverse impact on legitimate business transactions, and to reverse Treasury regulations targeting “hybrid” arrangements of U.S. multinational corporations, among other projects.

Prior to the acquisition of the Federal Policy Group by Clark Consulting in February 2002, Mr. Kies was Co-Managing Partner of the Washington National Tax Services office of PricewaterhouseCoopers LLP.

Prior to joining PwC, Mr. Kies served as the Chief of Staff of the Congressional Joint Committee on Taxation from January 1995 until January 1998. During his tenure as Chief of Staff of the Joint Committee on Taxation, Mr. Kies oversaw development of major tax legislation, including the Taxpayer Relief Act of 1997, the Small Business Job Protection Action of 1996, and the Health Insurance Portability and Accountability Act of 1996.

He also led international delegations and also held numerous bilateral discussions in Washington with a wide variety of tax officials representing other foreign countries.

Space is limited and you will need to register in advance at the AFLA website. Sign up at www.aflaonline.com.

This session will be recorded and members can view in our on-demand webinar library after the event.

Rachael comes to First Business after working as a Fraud Analyst for US Cellular. She is a 2005 UW-Madison graduate with a B.S. in Economics and also obtained a second degree in Accounting from the University of Phoenix in 2010.

About First Business Financial Services, Inc.
First Business Financial Services (NASDAQ:FBIZ) is a $1.1 billion Wisconsin-based bank holding company that specializes in focused financial solutions for businesses, key executives, and high net worth individuals through its operating companies. It is the 2^nd largest Wisconsin-based commercial bank holding company listed on NASDAQ or the NYSE. Its companies include: First Business Bank – Madison; First Business Bank – Milwaukee; First Business Bank – Northeast; First Business Trust & Investments;First Business Equipment Finance, LLC; and First Business Capital Corp. For additional information, visit www.firstbusiness.comor call (608) 238-8008.

Ruth Makepeace, employee benefits manager at Capgemini, is quoted in the article, “We are delighted to have extended our contract with Leasedrive. Their positive, pro-active and supportive approach to fleet management has enabled our relationship to go from strength to strength. In addition, during the last 18 months, we have seen a 30 per cent increase in company car scheme take up. This increase is testament to the collaborative work that has taken place between Capgemini, the driver helpdesk and our account manager.”

Read more: http://www.fleetnews.co.uk/news/2012/2/9/capgemini-renews-contract-with-leasedrive/42469/

“Our people and a collective commitment to continuous improvement are the cornerstones of National Leasing’s success,” says Joel Neufeld, Corporate Business Analyst at National Leasing. “Our placement among the Top 50 Best Small & Medium Employers in Canada for a fourth consecutive year demonstrates the benefit of using employee feedback to enhance our workplace. We used feedback from last year’s study to enhance our employee wellness initiatives and offer more education programs and corporate-wide team building events. We believe National Leasing delivers a work environment that’s second to none.”

The Best Small and Medium Employers in Canada study, now in its seventh year, is designed for Canadian companies with 50 to 399 employees and more than three years of business history. The results of employee opinion surveys are used to determine the placement of participating organizations. The surveys are largely designed to measure employee engagement. Organizations with high employee engagement enjoy tangible benefits, including a greater ability to attract and retain key talent.

The study is conducted by the Queen’s University School of Business with the assistance of AON Hewitt. More information about the Best Small and Medium Employers in Canada is available online at:
http://business.queensu.ca/centres/qcbv/bsme/index.php; and,
http://was2.hewitt.com/bestemployers/canada/pages/index.htm.

About National Leasing
National Leasing provides sound financial solutions to businesses across Canada. We are a leader in commercial equipment leasing and are recognized as one of the largest Canadian lessors in small- to mid-ticket transactions. National Leasing is the only leasing company in Canada to be ISO 9001:2008 certified. Backed by professional service and an outstanding reputation, we are fast to respond, easy to work with and ever-changing to meet our clients’ needs. For more information visit www.nationalleasing.com, or call us at 1-888-408-1966. As a wholly owned affiliate of Canadian Western Bank (TSX:CWB), National Leasing is a proud member of the CWB Group of companies.

The MOU entered into between AVIC Leasing and Bombardier Inc. was one of several agreements signed at the Canada China Business Forum held today in Beijing, with Stephen Harper, Canadian Prime Minister, and Pierre Beaudoin, President and Chief Executive Officer, Bombardier Inc., in attendance.

AVIC Leasing, a subsidiary of Aviation Industry Corporation of China (AVIC), is a lease financing company with substantial assets and a rapidly growing aircraft fleet.

“Bombardier’s portfolio of commercial aircraft is well positioned to meet China’s rapidly growing air transport infrastructure, and AVIC Leasing will use this MOU to work with airlines and develop solutions to their varied business requirements,” said Zhao Hong Wei, President, AVIC Leasing.

“This MOU provides AVIC Leasing and Bombardier increased opportunities to grow their businesses by providing airlines with optimized aircraft and financing solutions in China and elsewhere,” said Mairead Lavery, Vice President, Strategy, Business Development and Structured Finance, Bombardier Aerospace.

More than 80 Bombardier-produced aircraft, including CRJ Series and Q-Series commercial aircraft, as well as Learjet, Challenger and Global business jets, are currently operating in China.

Bombardier predicts that over the next 20 years, China’s fleet of commercial aircraft will grow as it becomes the world’s second largest market for new aircraft deliveries, following closely behind the United States. Bombardier forecasts a demand for almost 2,400 commercial aircraft in the 60- to 149-seat segment in China and is working closely with local airlines, suppliers and stakeholders to assist in fleet and infrastructure expansion.

In this position, Mr. Atherholt will provide legal support for the Portfolio Management department including the management of litigation matters and will provide corporate legal services to all other areas within the company. He will report to David Kovacs, Senior Vice President.

An industry veteran, Mr. Atherholt brings 28 years of legal experience in the equipment leasing industry. Most recently he represented clients at the law firm of McNamara, Bolla, Williams & Panzer. Prior to that, he spent 27 years at De Lage Landen Financial Services as General Counsel and Corporate Compliance Officer.

David Kovacs stated, “We are delighted to have Rick as a member of our team at this significant time in CoActiv’s growth and expansion. Rick has immense industry knowledge and his diverse experience in the equipment leasing industry will complement our existing team.”

Read the full story: http://www.semiconductor-today.com/news_items/2012/FEB/AIXTRON_090212.html

As an accountant and an industry service provider, I have a responsibility, not only to my firm, but to all of my clients, to make sure that we are ready to hit the ground running.  I know that the implementation of this new standard will be a daunting task that requires detailed planning and preparation.  In fact, our firm’s planning has already begun.  But as much as I plan, learn, train and implement, all will be for naught if my technology provider doesn’t do the same.  As much as I may know the rules and regulations of the new standard, if my technology doesn’t, I will have a less than desirable outcome.

Why, you may wonder, should I be concerned about being ready, when the final standard isn’t even out yet?   First, a change of this magnitude will encompass several areas of your business, not just your financial statement presentation.  So, it is important to assess all of the affected areas and determine what changes need to be initiated, and when.

If compliance with the standard is required effective January 1, 2015 and requires restatement of active leases, it stands to reason that leases written today may be impacted by the change, for both lessor and lessee.  Shouldn’t we understand how this might impact our business and our lessees’ needs?

Another important consideration is whether the restatement could affect the company’s equity.  If the restatement results in a reduction in equity, how will that impact bank or other loan covenants?  To avoid delay in funding new transactions, concerns in this area need to be addressed with lenders well in advance of the issuance of financial statements applying the new standard.

While there are many important considerations, there is no doubt that the competency of your technology is very high on the list.  Solid technology tools are not developed overnight; they take foresight, planning, testing and implementation.  Additionally, a transition of this type will require reassessment of active leases to effectively restate prior period results under the new standard.  This restatement, and the ongoing portfolio management, may require the use of data that our systems aren’t retaining today.  In fact, we may need data we aren’t even collecting in our lease application today.  If we wait until 2014 or 2015 to start collecting, or tracking, this data, we will not be in a position to reassess our active leases at restatement time without substantial manual manipulation.

How do we make sure our provider is doing their part to prepare for the upcoming accounting changes?  Communication is key.  Your provider should be willing to discuss their plans and progress with you and share their current timeline, which is, of course, dependent upon FASB’s final issue and implementation dates.  Your provider should welcome your inquiries as well as your input on the process.  Ask them to share with you their assessment of the current proposal and how it will impact their current system.  Will they upgrade the current system or are they developing new technology?  Are they calling on industry experts for guidance, or do they have the required expertise to address the issues in-house?  Have they evaluated the criteria that will be needed under the currently proposed rules to determine what additional data tracking may be needed today in order to assure a smooth transition to the new standard?

In assessing the challenges of restatement, it is important to determine, and communicate to your provider, what expectations you will have for your system.  My highest priority is to make sure my current system is tracking the data I need to properly restate leases when the time comes.  I expect my system not only to restate leases as of the required date, but also to determine the portfolio value under the new standard as of periods prior to the restatement date, so that I can properly reflect these values in my comparative financial statements.  I anticipate having the ability to do a test conversion well in advance of the restatement date, to head off any obstacles that may arise during the process.

There are many important issues to consider that, while not critical today, do deserve and require careful consideration and planning well in advance of the new standard’s implementation date.  While it is not probable or reasonable to have all of the answers today, assembling a task force to identify the affected areas and designing an implementation timeline are critical steps.  Reaching out to your provider, to see that they are on track, is a must.  Don’t wait until restatement time to find out whether your product will perform as needed.  As President John F. Kennedy once said, “The time to repair the roof is when the sun is shining”.

The ZRG Partners Global Equipment Leasing and Finance Hiring Index
(GELAF) showed continued reductions in new hiring across the world,
ending the quarter at 62.7, a steady decline from the 83.1 average mark
during the fourth quarter of last year.

Leading the decline in hiring was the BRIC area (Brazil, Russia, India
and China) as all four countries posted lower numbers. India had the
most dramatic decrease in new hiring of the BRIC countries. From an
individual country standpoint, Germany seems to be adjusting down new
hiring plans given regional uncertainties and posted big reductions in
hiring during the period.

While most regions were down, there were a few specific countries where
talent is still being sought. The UK led the charge in growth of
postings followed by Chile.

While China was down on a quarter to quarter basis, the February 1st
numbers indicated the highest level of new hiring in six months.

Ken Vancini, Managing Partner of ZRG Partners related, “Overall, the
February 1st ending numbers do show increased levels of hiring compared
to the past few months, so while the quarter over quarter numbers are
down, the short term trends indicate a jump in February”.

Download the current GELAF index here.

The airline on Wednesday received its commercial air carrier certificate (AOC) from the Civil Aviation Authority of the Philippines (CAAP) in the latter’s Manila office.

In March, last year, AirAsia Inc. registered with the Securities and Exchange Commission (SEC) to engage primarily in the business of air transportation in the Philippines and abroad for passenger and cargo.

AirAsia Inc. is a 60-40 joint venture between Filipino investors Antonio O. Cojuangco, Michael L. Romero and Marianne B. Hontiveros with Malaysia’s AirAsia International Ltd., a wholly-owned subsidiary of AirAsia Berhad.

Read more: http://www.mb.com.ph/articles/350688/airasia-philippines-leasing-16-aircraft

“The extension of our second-largest financing is a positive achievement that underscores both the quality of FLY’s fleet and the strength of our banking relationships,” said Colm Barrington, CEO of FLY Leasing. “Nord LB has a leading franchise in aircraft finance and we thank them for their continued support. The careful management of the company’s refinancing risks is a core element of our commitment to enhance and grow shareholder value over time.”

FLY has 109 aircraft on lease to 53 airlines around the world.

“As one of the most trusted and iconic brands in America, we are thrilled to be working with John Deere. This integration from the Used Xpress system directly to Mascus.com allows John Deere dealers to automatically upload their used farm equipment and used turf equipment to Mascus.com and easily reach our international audience of equipment buyers,” says Marc Mandt, Country Manager for Mascus USA.

“John Deere dealers will also be able to automatically present their used equipment inventory in the 39 languages and 180 currencies that Mascus currently operates in. The combination of increasing global demand for used agricultural equipment, the strong reputation of John Deere equipment worldwide, and the large global audience of Mascus will give the North American John Deere dealers a real competitive advantage over their domestic competitors,” continues Mandt.

About MascusFounded in 2000, Mascus.com is the fastest growing website in the world for used heavy equipment and machinery. Mascus is an electronic marketplace for used farm and agriculture equipment, used construction equipment, forestry equipment, trucks and trailers, material handling equipment and grounds care equipment. Product ranges include used tractors for sale, used combine harvesters, used sowing and planting machines, and used hay and forage machines such as reversible ploughs, used cultivators and used disc harrows.

Besides the online marketplace, Mascus offers Mascus Locator, a directory for dealers, manufacturers, spare parts and other service providers; Mascus Auctions, its new auction section featuring auction listings from around the world; and easy-to-use tools and services for machinery end-users.

Mascus has over 200,000 used equipment listings from over 4300 equipment dealer customers around the world. Mascus also works with many of the major manufacturers of heavy equipment around the world.

Mascus’ global presence includes local offices in 42 countries, and Mascus.com is available in 39 languages and 180 currencies. The Mascus USA headquarters is located in Tampa, FL and the Mascus global headquarters is in Helsinki, Finland.

For more information contact Marc Mandt, Country Manager – Mascus, USAmarc@us.mascus.com 877-7-MASCUS / 813-635-1300

Joanne Sully, Vice President, Global Merchant Services, American Express, said: “This is a great opportunity for business owners to diversify the way they pay for their business equipment needs – from car to medical equipment finance arrangements. In addition, business owners can benefit from a convenient method of payment with the added advantage of being able to extend their cash flow.”

The program is a global first for American Express within the commercial equipment finance space, with Macquarie Leasing the only institution in the market to accept any form of plastic payment for new commercial vehicle and equipment finance repayments.

Sully added: “Business owners can now use their American Express Card to pay for commercial vehicle and equipment finance repayments and in doing so, will earn more Membership Reward points – which can ultimately be put back into their business.”

Andrew Sidery, Head of Macquarie Leasing Specialist Sales, said: “Macquarie Leasing is delighted that we can assist Australian businesses by expanding the range of vehicle and equipment financing solutions available in the market. This relationship with American Express is a result of our continued commitment to provide market-leading solutions to SMEs.”

As part of their service offer, Macquarie Leasing will accept American Express for monthly payments for new commercial hire purchase, chattel mortgage and finance lease agreements. Macquarie Leasing also has the ability to source cars and insurance products on behalf of American Express Cardmembers.

High Cost Debt Eliminated or Refinanced Since January 2010 Will Total $22 Billion

CIT Group Inc.  (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies, today announced that it will redeem all of its nearly $4 billion of remaining 7% Series A Second-Priority Secured Notes including approximately $1 billion principal amount of the Notes maturing in 2016 and approximately $2.9 billion principal amount of the Notes maturing in 2017.

“This is a significant milestone for CIT,” said John A. Thain, Chairman and Chief Executive Officer. “The elimination of our remaining Series A Notes will result in a largely unencumbered balance sheet as our Series C Notes and revolving credit facility will become unsecured. These efforts will improve our financial flexibility as we continue to provide much needed financing to the small business and middle market sectors.”

Including the Series A redemption announced today, CIT will have eliminated or refinanced approximately $22 billion of first lien and second lien debt since the beginning of 2010, including $7.5 billion of first lien debt, its entire $12.3 billion of Series A Second-Priority Secured Notes and its entire $2.1 billion of Series B Second-Priority Secured Notes.

The Company has provided a redemption notice for the Series A Second-Priority Secured Notes to the trustee and intends to complete the Series A redemption on March 9, 2012. As provided under the terms of the Series A Second-Priority Secured Notes, the Company will redeem the remaining outstanding principal balance at par.

Additional information will be available in a Form 8-K that will be filed with the Securities and Exchange Commission. This, and other filings, can be found at cit.com/investor.

The company, based in Los Angeles, will use the proceeds to repay outstanding debt, pay transaction fees and fund general corporate purposes, ILFC said today in a statement distributed by Business Wire.

Read more: http://www.businessweek.com/news/2012-02-06/aig-s-ilfc-seeks-900-million-term-loan-to-repay-debt.html

CHP has been expanding its operations in France and in 2011 became an associate member of the Association Française des Sociétés Financières (ASF), the official French association of financial companies. The new opening is accompanied by the relaunch of CHP’s website which is also now available in French language.

Frédéric Laurent, CHP’s Operations Director (France), said: “We are looking to establish ourselves in the buoyant and innovative French asset finance market, and create a sound platform for future growth. CHP already has a number of clients who operate in France, and having a base in Paris means we can enjoy a closer relationship with them.”

CHP also has offices in London, Sydney and Boston, with a strong presence in a number of other countries where implementations of ALFA Systems are live or in progress.

According to a complaint filed Feb. 3 in New York State Supreme Court in Manhattan, a lawyer for General Electric Capital Corp. told AerCap in February 2010 that the company was liable for “millions of dollars” in a court case involving Transbrasil SA, the bankrupt Brazilian airline.

The airline had sued GE and AerCap in February 2001 to void promissory notes issued in 1999 in connection with the leases of two engines and an aircraft, according to the complaint. GE lost an appeal of a 2007 judgment entered against AerCap and other defendants, and Transbrasil is asking Brazilian courts to enforce the judgment, according to the complaint.

Read more: http://www.bloomberg.com/news/2012-02-06/general-electric-capital-corp-sued-by-aercap-ireland-in-n-y-.html

The committee’s offering is part of a two-year surface transportation bill passed by the Senate Environment and Public Works Committee and the Committee on Commerce, Science and Transportation.

Read more: http://www.landlinemag.com/Story.aspx?StoryID=22152

Read more: http://www.businesscar.co.uk/story.asp?sectioncode=1&storycode=8428&c=2&theme=0

PHH Arval provides outsourced fleet services to nearly one-third of the Fortune 500 companies. In this new agreement, FleetCor will provide a new universal fuel card program for PHH Arval’s Canadian business as well as its North American heavy truck business.

“We are delighted to announce this new relationship with PHH Arval. We hope to provide an advantaged fuel card solution for PHH Arval’s customers that will ultimately lead to additional business for FleetCor in this very important fleet leasing market segment,” said Ron Clarke, Chairman and CEO of FleetCor.

About PHH Arval

PHH Arval, a subsidiary of PHH Corporation (NYSE: PHH), is a leading fleet management services provider in the United States and Canada. PHH Arval provides outsourced fleet management solutions to corporate clients, including nearly one-third of the Fortune 500 companies. Through consultative expertise, flexible customer service, and award-winning Internet technology, PHH Arval helps clients reduce costs and increase productivity. For more information, visit http://www.phharval.com, or call 800 ONLY PHH.

About FleetCor

FleetCor is a leading global provider of fuel cards and specialized payment products to businesses. FleetCor’s payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty. FleetCor serves commercial accounts in North America, Latin America, and Europe. For more information, please visit http://www.fleetcor.com.

Traditional communications and information services and technology companies continue to experience strong growth increases in underlying demand, as M&A activity and rapid organic growth continue to drive the need for capital in the industry, according to Tom Westdyk, Managing Director of CIT Communications, Media and Entertainment at CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of financing to small businesses and middle market companies. Westdyk discusses current trends and financing opportunities in the communications and information services and technology sectors in Communications & Technology Financing Outlook (cit.com/westdyk), the latest in a series of in-depth executive Q&As featured in CIT’s Executive Spotlight series (cit.com/executivespotlight).

Positive Growth Trends

A wide spectrum of these sectors are experiencing positive industry trends, according to Westdyk. “In communications, the catalyst of this growth is sourced from both consumers and corporations who are accepting and integrating more and more new devices into their personal lives and business operations. In the information services and technology sectors, we see traditional communications and media industries continue to migrate toward digital distribution channels and technology enabled services.”

Steady Growth Through Economic Turbulence

Continued fluctuations in the economy have not had an adverse effect on these industries. Westdyk adds: “Many of the applications and services provided by the communications and information services sectors drive efficiency. As such, companies are willing to purchase these technologies and services because they introduce sustained operational improvements that increase profitability long-term.”

Lenders Keen on Sector

Due in part to high cash flow margins, many lenders find these sectors attractive, Westdyk comments. “These businesses are well suited for leveraged loans, as their revenue models, which are highly recurring in nature, are typically supported by licenses, subscriptions, contracts, high-quality/diverse customer bases and high customer retention rates. Additionally, cash flow margins are high due to scalability of these businesses that creates significant operating leverage.”

In addition to presentations from over thirty industry leaders and interactive break out sessions with panels of industry experts, this year’s program will feature the annual Vendor Forum, Golf Classic, and a Taste of Life in the Low Country River Cruise, featuring a Low Country boil.

Register here: http://library.constantcontact.com/download/get/file/1101688506167-115/2012+NAFA+Conference+Registration+Form.pdf

• President – Rosanne M. Wilson, CLP with 1^st Independent Leasing, Inc.
• Vice President – Vicki L. Shimkus, CLP with BSB Leasing
• Secretary – D. Paul Nibarger, CLP with Nibarger Associates
• Treasurer – John G. Rosenlund, CLP with Portfolio Financial Servicing Company

The remainder of the CLP Foundation 2012 Board of Directors were elected by their CLP peers in Good Standing or appointed by our supporting associations, the National Association of Equipment Leasing Brokers (NAELB)  and the National Equipment and Finance Association (NEFA):

• Mary E. Armstrong, CLP with Financial Pacific Leasing, LLC
• Joseph G. Bonanno, Esq., CLP with Law Office of Joseph Bonanno
• Jeffry D. Elliott, CLP with Huntington Equipment Finance
• Kyle Gilliam, CLP with Arvest Equipment Finance
• Shannon M. Green, CLP with Orion First Financial, LLC
• Katherine M. Nordendahl, CLP with Bank of the West
• David A. Normandin, CLP with Black Dog Consulting Solutions
• Brian M. Schonfeld, CLP with Pawnee Leasing Corporation

GE had a trade volume of 44.89 million shares was lesser as compared to average trading capacity of 50.44 million shares.

The stock is ahead its 52 week low with 36.95% and logging behind from its 52 week high price with -9.10%. GE last month stock price volatility remained 1.36%. In its share capital GE has 10.56 billion outstanding shares among them 10.55 billion shares have been floated in market exchange. GE stock institutional ownership remained 53.25% while insider ownership included 0.03%.

Read more: http://galaxystocks.com/19745/business-news/ge-capital-set-to-become-ge’s-biggest-profit-center-–-nysege/

Last September, BNP Paribas and Societe Generale announced they would be reducing their commitment to aircraft loans, and in January RBS sold its entire aviation business to Sumitomo Mitsui for $7.3bn.

Read the full story: http://www.efinancialnews.com/story/2012-02-06/buyside-takes-aircraft-financing

Read more: http://www.itjungle.com/tfh/tfh020612-story08.html

Electro Rent will be adding CCI’s industry-leading PIM solutions to its own, already healthy portfolio of T&M solutions. These will include CCI’s PiMPro family of analyzers, which are widely used by wireless developers, infrastructure manufacturers and suppliers, as well as by field force engineers involved in the roll-out and maintenance of cellular networks.

David Saeys, Head of Electro Rent Group (Europe), said, “We are delighted to be partnering with CCI in Europe to help bring their PIM solutions to mobile networks throughout the region. Our technical sales organization has the right expertise and skills to support CCI’s efforts to market the very best T&M solutions to deal with the important issue of PIM at the cell site.”

Peter Jackson, Director on CCI Europe, said, “We are very excited by our new channel partnership agreement with Electro Rent and the anticipated impact it will have on our sales throughout Europe. As more and more networks around the world meet increasing bandwidth and service demands from users by rolling out their latest infrastructure, such as LTE, it’s essential that cell sites function at optimum levels. PIM is a real problem, but with the support of Electro Rent’s team, European networks will be able to build CCI’s leading solutions into their PIM strategies.”

This European channel partner agreement builds on the existing partnership between CCI and Electro Rent, delivering support and services for CCI’s portfolio to customers in Canada and the USA.

Fife-based Aircraft Medical, which makes equipment to help doctors put breathing tubes down patients’ throats, has sealed a $3.3 million (£2.1m) “venture debt” deal from Clydesdale Bank.

It follows on from a similar loan package worth £2.5m for Livingston-based artificial hand maker Touch Bionics in December 2010.

“Venture debt” was a popular method of supporting venture capital deals before the financial crisis.

Instead of traditional bank loans – where lenders need security in the form of property, machinery or other assets – venture debt involves specialist lenders providing money to companies at earlier stages in development, when they may not yet have assets.

Read more:
http://www.scotsman.com/business/banking/funding_boost_for_aircraft_medical_1_2097381

Why should we be concerned?
Equipment finance companies and America’s businesses and municipalities, in particular small to mid size businesses are already suffering from lack of access to capital due to fallout from the recent economic crisis. Any further restriction to their access to the capital they need to run their businesses will only prolong an already painfully slow recovery. Additionally, the reality is that the additional pressures the Dodd-Frank Act risk retention rule, as proposed, would place on equipment finance companies would surly force a significant number of such companies out of business. This in turn will result in even less access to capital for U.S. businesses that drive our economy and therefore any U.S. economic recovery we can hope to have in the future.

Why are the capital markets so important to equipment finance companies?
The business of providing equipment financing services is highly capital intensive. Simply put, an equipment finance company fronts the capital required for the end-user or “operator” to acquire essential equipment for use in creating goods and services for consumption. This “fronting” is exchanged for committed cash-flow from the ensuing rental stream payable to the equipment finance company for the term of the lease and generally secured by a first priority lien and security interest in the underlying equipment. For most equipment finance companies, the only meaningful return on equity comes at the end of the term when equipment is either turned in and remarketed or sold to the lessee. In order to extract an adequate return on equity to justify being in the equipment finance business at all, finance companies typically must utilize a significant amount of leverage.

The ABS market has been an essential source of capital for equipment finance companies. In an ABS transaction, a pool of receivables (future cash flow from equipment rental payments) is created and converted into a security backed by this cash flow and often residual positions which is then sold to institutional investors. These arrangements have been very appealing historically to investors due to the stability and predictability of the investments which are credit enhanced by a duly rated entity (generally a bank) and to equipment finance companies due to the relatively low cost of capital achieved by accessing the capital markets. The lower cost of capital achieved by accessing capital via the securitization market has been essential for equipment finance companies to keep their pricing competitive while ensuring adequate returns.

So how did we get here?
Having just gone through one of the worst financial market meltdowns in history, there has been a lot of finger-pointing and blame going around as well as an aggressive and politically charged  movement to prevent another such crisis from occurring. Right or wrong, much of this blame has fallen on the MBS and CDO markets. This has caused an inappropriate “guilt by association” problem for the broader securitization market including the historically stable performing receivables pools of equipment finance companies.

Why are equipment finance asset backed securities different?
There are a variety of reasons for the stability of the equipment finance related securities as contrasted with other asset backed securities, in particular MBSs and CDOs. For example, the equipment finance industry has a long history and proven track record of consistent and strong underwriting (including conservative underlying asset valuations) and appropriate risk-based pricing. Additionally, in the ABS structure as applied to the equipment finance industry, pools of leases are originated and held to term by the equipment finance company (securitizer). Receivables and the underlying equipment form collateral for what amounts to a borrowing base in a revolving asset based loan facility (ABL), providing continued access to capital for the equipment finance company for the term of the arrangement. The advance rate against aggregated principal balance collateral is typically 90-95%, thus creating an over collateralized pool of assets with first loss risk retention of 5-10% at all times, not including residual risk which theoretically increases the risk retention.

What are the specific concerns?
There is concern that under the proposed regulations, this form of securitizer risk retention (overcollateralization) would not be recognized as acceptable and additional risk retention could be required in the form of structures generally avoided. Equipment residual value should be included in that overcollateralization model. Additionally, the Dodd-Frank risk retention rule proposal raises concerns about the possibility that securitizers of equipment ABS would be required to deposit all proceeds from cash-flow into multiple collection accounts, similar to the MBS format of separate principal and interest buckets unlike the “unitary waterfall” approach that is appropriate for a rental stream that is not comprised of principal and interest. Further, this provides a problem related to cash flow from regular rent payments, default recoveries, prepayments, asset dispositions in to a single collection account.

Conclusion
Any effort to improve confidence in the stability of the capital markets should be applauded. The concern among those of us in the equipment leasing and finance industry centers mostly around inappropriate lack of specificity and attention paid to the time-tested and proven structure and risk retention protocols in of the ABS collateralized by equipment leases and finance agreements.  Whether intentional or just an oversight, the Dodd-Frank risk retention rule, as proposed, could cause serious harm to our industry and serve to seriously hamstring an already slow recovery from the Great Recession.

“We are proud to be entering into an agreement with Bosch Solar Energy, as their focus on quality products in an international marketplace is consistent with the strategies of De Lage Landen and the Rabobank Group,” says Mark McGovern, General Manager, Clean Technology for De Lage Landen. “Although our newly closed agreement is U.S.-focused, we will work together with Bosch to structure domestic and international funding products for Bosch and its strategic customers.”

Eric Daniels, President of Bosch Solar Energy North America states that “Bosch is a recent entrant into the U.S. solar energy market and sees this region as a key growth area.  Our new partnership with De Lage Landen and Rabobank is an example of this commitment moving forward.   By offering financing solutions through De Lage Landen’s highly experienced Clean Technology group, we are able to provide the best and highest quality options and additional value to our strategic partners and customers in the U.S.”

About Bosch Solar Energy AG

Bosch Solar Energy AG is a leading supplier of photovoltaic solutions. From small-scale systems for single family homes to large turnkey photovoltaic projects, Bosch Solar Energy is a global provider of high-quality solar cells and modules for turning sunlight into electricity. The company also takes on contracts to build entire solar parks which cover everything from the initial planning stages through to the actual construction and the final handover of the completed turnkey system to the owner. Bosch’s Solar Energy division, which also includes aleo solar AG, has a total of around 3,000 employees.  You can find more information at www.bosch-solarenergy.com

In the U.S., Canada and Mexico, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial drives and control technology, power tools, security and communication systems, packaging technology, thermotechnology, household appliances, solar energy, healthcare and software innovations. Having established a regional presence in 1906, Bosch employs over 22,000 associates in more than 100 locations, with reported sales of $8.8 billion in fiscal 2010.  For more information, visit www.boschusa.com.

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 285,000 associates generated sales of 47.3 billion euros ($62.7 billion) in fiscal 2010. For 2011, the company forecasts sales of more than 50 billion euros ($70 billion) and a headcount of 300,000 by the end of the year. The Bosch Group comprises Robert Bosch GmbH and its more than 350 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spent 3.8 billion euros (approximately $5 billion) for research and development in 2010, and applied for over 3,800 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.  Additional information can be accessed at www.bosch.com and www.bosch-press.com.

–$600,000,000 class A fixed-rate ‘AAAsf’; Outlook Stable;

–$75,709,779 class B fixed-rate ‘A+sf’; Outlook Stable;

–$51,104,101 class C fixed-rate ‘BBB+sf’; Outlook Stable.

Fitch’s ratings are based on the underlying receivables pool, available credit enhancement, GE Money Bank’s underwriting, General Electrical Capital Corporation’s servicing capabilities, and the transaction’s legal and cash flow structures, which employ early redemption triggers.

Additional information is available at ‘ www.fitchratings.com ‘. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

“We are just two years into it,” Chief Financial Officer Ed Rapp said today in an interview at Bloomberg’s headquarters in New York. “If you go back into history, our cycle is six, seven years.”

Caterpillar said last week 2011 profit and sales jumped and its order backlog reached a record $29.8 billion at year-end as demand for some products outpaced manufacturing capacity. Orders from customers replacing older equipment has yet to match the last peak in regions including the U.S., which is Peoria, Illinois-based Caterpillar’s largest market.

“That catch-up in demand, that replacement cycle in the U.S. and Europe, is going to play out,” Rapp said. That “tailwind is going to be there.”

Read the full story at BusinessWeek.com: http://www.businessweek.com/news/2012-02-03/caterpillar-cfo-sees-tail-wind-from-demand-in-u-s-europe.html

Ritchie Bros. Auctioneers (NYSE and TSX: RBA), the world’s largest industrial auctioneer, will sell more items than ever before at its unreserved public equipment auction in Orlando, Florida from February 13 – 18, 2012. During the six-day event, more than 9,100 heavy equipment items and trucks will be sold—a Company record for the most items ever sold in a single auction—and new items are still being added daily. Bids in the auction can be made on-site at the 200±-acre Orlando auction site, online in real-time at www.rbauction.com or by placing proxy bids in person or by phone.

“Our annual Orlando auction is not just a sale, it’s an event attracting bidders from all over the world,” said Steve Kriebel, Regional Sales Manager, Ritchie Bros. Auctioneers. “The auction attracts one of the largest, most diverse audiences of consignors and bidders from around the world. Because of this, the selection of equipment featured in the auction is plentiful and there is something available for all types of buyers everywhere.”

Last year’s Ritchie Bros. February Orlando auction set new site records for number of sellers and registered bidders. In total, more than 7,700 registered bidders from 77 countries participated in the auction competing for 8,000 items, which the Company sold for nearly 700 equipment owners. Bidders from outside Florida purchased US$145 million of equipment (84 percent), including US$79 million purchased by out-of-country bidders (46 percent).

Online participation records were also broken during last year’s five-day public Orlando auction. Of the total registered bidders, a record 3,300 online bidders registered and among them, a record 616 buyers purchased more than US$35 million (21 percent) of used and unused equipment and trucks in the auction.

VIRTUALLY ALL HEAVY EQUIPMENT INDUSTRIES REPRESENTED AT UPCOMING ORLANDO AUCTION

A major highlight of this year’s six-day Orlando auction is the thousands of used and unused late model equipment items from manufacturers such as Caterpillar and Volvo, including: forklifts, loader backhoes, wheel loaders, articulated dump trucks, motor graders, motor scrapers, crawler tractors, crawler loaders, pavers, skid steer loaders, multi-terrain loaders and much more.

Here is a current snap-shot of what bidders can expect to view, inspect and purchase over the course of the auction. For the latest equipment listings, please visit www.rbauction.com.

• More than 390 wheel loaders
• More than 380 hydraulic excavators
• More than 290 loader backhoes
• More than 290 crawler tractors
• More than 230 telescopic forklifts
• More than 130 motor graders
• More than 160 truck tractors
• More than 120 articulated dump trucks

Consignments for the Orlando auction are still being accepted; anyone interested in selling equipment and trucks in the auction can contact the Ritchie Bros. Orlando site at +1.863.420.9919.

ORLANDO, FL – FEBRUARY 15 – 19, 2011: QUICKFACTS

*Site records broken in February 2011

Orlando, FL – February 13 – 18, 2012: Auction details

• Location: Ritchie Bros.’ Orlando auction site at the corner of I-4 & US Hwy 27 (700 Ritchie Rd.), Davenport, FL 33897
• Orlando auction site telephone: +1.863.420.9919
• Date(s): Monday, February 13 to Saturday, February 18, 2012
• Auction start time: 8:00 a.m. daily
• The auction is open to the public; registration to bid is free; a refundable bid deposit may be required

Interested buyers can come to the auction site to inspect, test and compare items starting on Friday, February 10 at 8:00 a.m.

Sequential revenue growth was better than the company expected, with total second-quarter revenue increasing 38 percent to $8.6 million, from $6.2 million reported in the fiscal 2012 first quarter. Previously, the company had forecast sequential revenue growth of 15% to 20%.

“Our second-quarter results reflect a positive shift in the company’s financial performance following a challenging period,” said Najeeb Ghauri, chairman and CEO of NetSol. “After navigating through two tough quarters, we regained momentum by signing agreements across each of our business lines.”

On a sequential basis, license revenue rose to $2.0 million in the fiscal 2012 second quarter, from $1.1 million in the fiscal 2012 first quarter, reflecting the signing of new and previously delayed contracts. License revenue was $3.1 million in the second quarter of fiscal 2011.

Maintenance revenue increased slightly to $2.1 million in the second quarter of 2012, from $2.0 million in the previous first fiscal quarter, and $2.0 million for the same period last year.

Services revenue was $4.4 million, up sequentially from $3.1 million in the first quarter of fiscal 2012, and compared with $5.3 million for the second quarter of fiscal 2011.

Fiscal 2012 Second-Quarter Highlights

n   Signed two new NetSol Financial Suite (NFS)(TM) projects in Asia-Pacific region, including strengthening existing agreement with Minsheng Financial Leasing;

n   Completed NFS enhancement projects for two major U.S.-based auto captive finance companies, along with one of the top ten equipment leasing companies in North America;

n   Initiated roll-out of next generation NFS solution with Kiatnakin Bank in Thailand;

n   Embarked on automation program for a major European bank using LeaseSoft portal;

n   Signed agreement with LTC Supply Source valued at approximately $1 million to implement SAP purchasing platform and smartOCI(TM) Marketplace, which includes license and ongoing services fees.

View the full release: http://www.marketwatch.com/story/netsol-technologies-reports-38-sequential-quarterly-revenue-growth-returns-to-quarterly-profitability-with-earnings-per-diluted-share-of-001-for-fiscal-2012-second-quarter-2012-02-02

As of December 31, 2011, the Company’s book value per common share was $6.37 per share. Total stockholders’ equity was $119.9 million as of December 31, 2011 as compared to $134.0 million as of December 31, 2010.

Jonathan Cohen, CEO and President, commented, “These are transformative times at Resource America. During our first quarter, we completed the recapitalization of LEAF Commercial Capital, Inc. Last month we announced the creation of CVC Credit Partners, through which CVC Capital Partners and Resource America will own a global credit management business with over $7.5 billion under management and huge opportunities. Through these two significant institutional joint ventures, we will continue to realize upside in the leasing and credit management businesses. Our real estate business continues to grow significantly, and Resource Capital Corp., Resource Real Estate Opportunity REIT and our real estate institutional joint ventures have all raised capital, made investments and furthered their already strong industry positions.”

COMMERCIAL FINANCE:

–  LEAF Commercial Capital, Inc. (“LEAF”) Secured $125.0 Million in New Capital: In November 2011, LEAF received a $50.0 million equity investment from Eos Partners, L.P. and its affiliates (“Eos”), a New York based private investment firm. Concurrent with the Eos investment, LEAF also expanded its warehouse credit facility with an additional $75.0 million through Versailles Assets, LLC, an asset-backed commercial paper conduit administered by Natixis. As a result of this new investment, the Company no longer controls LEAF and deconsolidated it as of November 16, 2011. With the deconsolidation of LEAF, the Company recorded an $8.7 million gain during the first fiscal quarter ended December 31, 2011. The deconsolidation reduced the Company’s total assets by $228.0 million and its debt by $185.0 million as compared to September 30, 2011. The Company retained a 15.7% investment in LEAF and, after deconsolidation, has accounted for its investment on the equity method.

– Lease Origination/Platform Growth: LEAF continued to grow its lease origination and servicing operations during the first fiscal quarter ended December 31, 2011.

–  LEAF’s Dealer Solutions unit based in Moberly, MO added 94 new dealers as active users of its leasing programs.

–  Since LEAF’s January 2011 capital raise, lease originations continue to trend upward and subsequently grew to $48.2 million during the first fiscal quarter ended December 31, 2011 as compared to $40.0 million (21% increase) and $13.5 million (256% increase) during the fourth fiscal quarter ended September 30, 2011 and the first fiscal quarter ended December 31, 2010, respectively.

–  LEAF’s commercial finance assets at December 31, 2011 increased to $224.5 million, an increase of $32.5 million, or 17%, from September 30, 2011.

View the press releases here: http://phx.corporate-ir.net/phoenix.zhtml?c=73519&p=irol-news

The new ELFAonline.org is designed to engage and inform association members as well as those who want to learn more about the equipment finance industry. The association’s key offerings are prominently featured, including advocacy, research, events and training, and membership resources. The site also delivers the latest industry headlines, best practices, equipment market data and issue updates, from lease accounting to regulatory and advocacy developments.

Members-only tools allow members to connect with each other, including email discussion groups, which serve as virtual roundtables where members exchange information. Members also enjoy exclusive access to publication archives, including Equipment Leasing & Finance magazine, Washington Report and State Legislature Report; a comprehensive membership directory; industry research; in-depth topical information; discounts on event registrations and the ELFA Career Center and more.

ELFAonline.org also features new and improved content for vendors and customers, including the Manufacturers / Vendor Finance Resource Center, a resource for equipment manufacturers to learn about options for providing financing to customers, and Equipment Finance 101, a one-stop-shop for businesses that want to learn more about how to use equipment financing to operate and grow their businesses.

“Our primary goal was to create an engaging site that is easy to use and provides high-quality information for our constituents, based on their feedback,” said Amy Vogt, ELFA Vice President for Communications and Marketing. “The new ELFAonline.org offers enhanced value to help users connect with each other, access critical information and make sound decisions.”

“We are pleased to introduce the new and improved ELFAonline.org,” said William G. Sutton, ELFA President and CEO. “The redesigned site delivers a wealth of information for our internal audience of association members, as well as our external audience of industry affiliates, customers, policymakers and legislators, allowing them to find the information they need quickly and easily. The website is one more tool helping ELFA’s members fulfill their commitment to ‘Equipping Business for Success.”

Total revenue for the fourth quarter of 2011 was $1.54 billion, up 17% from $1.31 billion in the same period in the prior year, reflecting the benefit of acquisitions, organic growth and fuel services. Operating revenue (revenue excluding Fleet Management Solutions fuel and all subcontracted transportation) from continuing operations of $1.24 billion, rose 16% from $1.06 billion in the year-earlier period. Fleet Management Solutions (FMS) business segment total revenue improved 13% due to higher operating revenue, and to a lesser extent increased fuel services revenue. FMS operating revenue grew 12% due to acquisitions and higher organic commercial rental revenue. In the Company’s SCS business segment, total and operating revenue increased 26% due to an acquisition and new business. DCC business segment total revenue grew 29% and operating revenue grew 23% reflecting an acquisition, and the pass-through of higher fuel costs.

Net earnings per diluted share, including discontinued operations for the three-month period ended December 31, 2011 were $0.93 versus $0.72 in the year-earlier period. Earnings per diluted share from discontinued operations (previously announced in 2009) for the fourth quarter of 2011 totaled $0.01 compared with a loss of $0.08 in the same period of 2010. Net earnings for the fourth quarter of 2011 were $48.1 million versus $37.1 million in the year-earlier period.

Commenting on the Company’s full-year 2011 performance, Ryder Chairman and CEO Greg Swienton said, “In 2011, we delivered significantly higher, double-digit growth in both revenue and earnings despite volatile economic conditions. Our transactional products, including commercial rental and used vehicle sales, continued to perform exceptionally well, showing improvement not only in volumes, but commanding better pricing as well. In our contractual business, our largest product line, full service lease, began to show organic fleet growth in the latter part of the year, and we also saw significant organic improvement in Supply Chain Solutions. Although Dedicated Contract Carriage earnings showed an increase for the year, segment results were lower than our expectations. We generated very strong performance from the integration of five immediately accretive acquisitions completed since December of 2010. We also achieved a positive spread between our return on capital and cost of capital, and improved our return on equity by 350 basis points to 11.9%. In view of these factors, we have entered 2012 with good momentum, specific initiatives in place to accelerate organic growth, and confidence in our ability to deliver increased revenue and earnings even with only modest economic improvement anticipated in 2012.”

• Q4 EPS from Continuing Operations Increase 15% to $0.92
• Q4 Comparable EPS from Continuing Operations Up 49% to $0.97
• Q4 Total Revenue Up 17%; Operating Revenue Grows 16%
• Full Year EPS from Continuing Operations Up 40% to $3.31
• Full Year Comparable EPS from Continuing Operations Up 57% to $3.49
• Full Year Total Revenue Grows 18% to $6.1 Billion
• 2012 Comparable EPS Forecast of $4.00 to $4.10
• 2012 Forecast Includes $0.18 Increase in Pension Expense

View the full release: http://eon.businesswire.com/news/eon/20120202005326/en

CIT plans to use the net proceeds from the offering for general corporate purposes and the refinancing of outstanding indebtedness.

The Notes will be sold to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and outside the United States only to non-U.S. investors in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities. Any offers of the securities will be made only by means of a private offering memorandum.

A live webcast of the presentation, in addition to the accompanying slides, will be available on CIT’s Investor Relations Web site at cit.com/investor. To view the presentation and listen to the live event, log on to the Web site approximately 15 minutes prior to the event to register and to download and install any necessary audio software.

A replay of the presentation will be available shortly following the event until 11:59 PM EST on February 23, 2012.

Whilst organizations still have the ability to manually enter and vary securities through an on line web entry system provided by the AGD, many of WCG’s customers took advantage of the alternate web services based solution offered by the AGD, through the use of the WCG RegistryConnect component.

WCG’s Registry Connect Component provides a seamless gateway to transacting with the AGD PPSR, providing additional ‘Rules driven’, automated processes of our CALMS suite (of which the RegistryConnect PPSR solution forms a component). This level of automation has been proven to deliver substantial business benefits in operational efficiency enabling key, knowledgeable and experienced staff to be re-focused on business management, generation and customer service.

Colin Fleischmann, Director WCG Asia Pacific, says that RegistryConnect is yet another way WCG is continually focused on maximizing product investment, not only R & D, but ensuring that our customers have the best technology to run effective and efficient businesses.

Mr. Swenson was previously with Winthrop from February 2007 until July 2011 when he left to become the Senior Vice President of Sales for Surescripts. Prior to Winthrop, Brad had roles with Cerner and Amicas.

“Brad is very talented and we all are extremely excited to have him back on the team,” said Paul Gendler, Winthrop Co-President. “Brad understands our model, partners well within our team and has a proven track record of delivering results in the business. In his new role, Brad will leverage all we have learned, both strategically and tactically, to drive growth in a disciplined and intentional manner.”

“I have a great deal of respect for Brad and am thrilled that he is rejoining our team,” said Craig Dahl, Winthrop Chairman and TCF Vice Chairman of Lending. “His role is an important part of Winthrop’s strategic plan to grow the business.”

“Our economy is facing an undeniable challenge—good paying jobs are going unfilled because U.S. workers don’t have the skills to fill the positions. We must cultivate a highly educated workforce and we see the Standards as a key component to answering this challenge,” says Robert Corcoran, Vice President, GE Corporate Citizenship, and President and Chair, GE Foundation.

To date, the nation’s governors, chief state school officers, and other stakeholders across the political spectrum have come together to adopt Core Standards in 46 states. The Standards set common, rigorous expectations for students in literacy and mathematics.

The grant will allow Student Achievement Partners to offer national support to teachers. Student Achievement Partners helped in the development of the Core Standards, a process that drew on the input of teachers, business leaders, researchers, and policymakers. As contributing authors of the Core Standards, Student Achievement Partners integrated 10,000 public comments from teachers and other stakeholders as the Standards were being developed. Student Achievement Partners also helped ensure that the Standards were based on the best available evidence of what students need to master in order to be ready for the demands of college and career.

“This is a great day for the education reform movement and specifically for the momentum behind the Common Core State Standards. The GE Foundation is going deep in this work and its commitment to improving public education for all students is exactly what it is going to take to seed real and lasting change, especially during these tough economic times,” says David Coleman, Founding Partner, Student Achievement Partners.

The grant from GE Foundation will support several related efforts to help educators achieve the Core Standards:

Direct collaboration with teachers to produce and share examples and best practices of excellent instruction aligned with the Standards; A website, www.achievethecore.org, to distribute free resources designed to support teacher understanding and implementation; Standards Immersion Institutes designed to cultivate teacher experts who can build knowledge in their districts and states; The development of tools to track implementation and evaluate the quality of student work; and Partnerships with a network of non-profits to provide ongoing technical support to district and state leaders guiding implementation.

“This is a win for the youth of America and the companies that hope to employ them in the future,” says former Governor John Engler, President, the Business Roundtable, an organization comprised of the chief executive officers from leading U.S. companies. “The Core Standards movement can help our nation prepare a highly trained, internationally competitive workforce so we can continue to lead the world. The GE Foundation has demonstrated real leadership by stepping up and supporting this work.”

“Our members came together from states across the country to develop the Common Core and are now focused on implementing these new standards,” says Gene Wilhoit, Executive Director, Council of Chief State School Officers. “Teachers are on the frontlines of this work and supporting them as they bring the standards to life for their students is our top priority. We are thrilled that Student Achievement Partners in partnership with the GE Foundation will be providing such a strong resource for teachers.”

GE Foundation support continues the legacy of its education investments in its seven Developing Futures™ districts: Atlanta; Cincinnati; Erie, Penn.; Jefferson County, Ky.; Milwaukee; New York City; and Stamford, Conn. Teachers in these districts will participate in intense, multi-day training and will receive ongoing support as they implement the Standards, shift from current instructional practices, and ensure they are reaching all students.

GE Foundation works to solve some of the world’s most difficult problems. In coordination with its partners, it supports U.S. and international education, developing health globally, the environment, public policy, human rights and disaster relief. In addition, GE Foundation supports GE employee and retiree giving and involvement in GE communities around the world. In 2009, the entire GE family — including businesses, employees, retirees and GE Foundation — contributed more than an estimated $220 million to community and educational programs, including more than $100 million from GE Foundation.

Student Achievement Partners is a New York City-based independent, nonprofit organization that assembles educators and researchers to design actions based on evidence that will substantially improve student achievement. Founded by three of the authors of the Common Core State Standards, Student Achievement.

Demand will be stimulated by a pickup in mining output growth as global manufacturing activity and construction expenditures accelerate in a generally favourable economic climate. Commodity prices are also expected to remain high by historical standards, contributing to a rise in resource exploration and development activity, and associated mining machinery sales.

Read more: Mining Equipment Demand to Rise in 2012 (CAT, JOY, DE) – 24/7 Wall St. http://247wallst.com/2012/02/01/mining-equipment-demand-to-rise-in-2012-cat-joy-de/#ixzz1lELP3Yv0

Hall joins CURE with more than 23 years experience in fleet maintenance management. Prior to CURE, Hall held positions in the trucking industry with Watkins Motor Lines, as Regional Maintenance Manager for the Gulf Coast and Northeast regions of FedEx National LTL, and as Fleet Manager for Snider Tire Mechanic and Dickinson Fleet Services.

As Vice President of Maintenance and Call Center Operations, Hall will oversee the 24/7 Road Rescue program, currently offered to participating NationaLease members, CURE’s partner in the full service leasing industry. The 24/7 emergency road service program will provide coverage for all driver maintenance, including emergency roadside assistance, general truck maintenance, trailer service and repair, and scheduled PM service.

“We are privileged that an industry expert of Ken’s caliber has joined our team,” said Jim Guice, Chief Executive Officer of CURE. “Ken’s fleet maintenance management expertise and more than 20 year history in the transportation industry make him the perfect choice to guide the accelerating growth of our 24/7 Road Rescue program.”