Most Clicked ELFA SmartBrief Stories
1. CIT Group wins protection for equipment-finance unit
ELFA SmartBrief | Nov 17, 2009
CIT Group, which filed for Chapter 11 bankruptcy, gained temporary protection from creditors for its equipment-finance unit. U.S. Bankruptcy Judge Allan Gropper granted the lender's request for protection, which will last until the company exits bankruptcy protection or until Jan. 31. The order does not protect the unit from all creditors and does not apply to aircraft. Bloomberg (11/14)
2. Auction offers construction equipment at bargain prices
ELFA SmartBrief | Nov 17, 2009
A sharp decline in the construction market in Las Vegas led to an oversupply of construction equipment. Many pieces were auctioned off by Ritchie Bros. Auctioneers at deeply discounted prices. A scraper, for example, was sold for $75,000, down from an estimated price of $200,000 a few years ago. Las Vegas Sun (11/15)
3. Nissan to lease battery in electric car Leaf
ELFA SmartBrief | Nov 16, 2009
In Nissan Motor's electric automobile Leaf, the company will lease the battery to buyers, who will own the rest of the car, the automaker said at the launch of the model. The batteries, which Nissan will produce through a joint venture with NEC, are so costly that by keeping ownership of them, Nissan can produce the car at a price comparable to that of gas-powered automobiles. Nissan can also upgrade the battery as it makes improvements. Wired.com (11/13)
4. Goldman, Buffett to provide help to small businesses
ELFA SmartBrief | Nov 18, 2009
Goldman Sachs teamed up with Warren Buffett to create a $500 million program to help 10,000 small businesses. The initiative will offer businesses help in obtaining funding, counseling or other assistance. "Small businesses play a vital role in creating jobs and growth in America's economy," said Goldman CEO Lloyd Blankfein. "We are pleased to work with our partners in this initiative to support small-business owners, particularly in those underserved communities." Bloomberg (11/18)
5. Analysis: Lenders scarce for small, midsize businesses
ELFA SmartBrief | Nov 17, 2009
Banks that lend to small and midsize businesses drastically decreased after the collapse of Lehman Brothers. In the first three quarters of 2008, there were about $20 billion in transactions valued at $250 million or less, according to Thomson Reuters Loan Pricing. In the fourth quarter, after the Lehman collapse, transactions dropped to $13.7 billion. Since then, such lending has almost dried up, although GE Capital is still active. "People are either in wind-down mode, shutting down operations, or they've sold themselves to other competitors," says Chris Williams, co-founder of Madison Capital Funding. TheDeal.com (free registration) (11/13)
6. Commentary: Success in leasing requires momentum
ELFA SmartBrief | Nov 19, 2009
The most successful leasing professionals are those who generate momentum, Robert Wilson writes. "Momentum is about building a reputation. Acquiring it, however, doesn't mean you can taper off on your efforts ... but it does mean that your efforts will become easier," he says. WorldLeasingNews.com (11/12)
7. Geithner urges banks to lend more to small business
ELFA SmartBrief | Nov 19, 2009
Treasury Secretary Timothy Geithner said banks have an "obligation" to spur lending to small businesses. Stephen Steinour, CEO of Huntington Bancshares, said banks are focusing on small-business needs, and the government needs to make funds available without the stigma attached to the Troubled Asset Relief Program. Bloomberg (11/18)
8. GE Capital plans to sell more in Islamic bond market
ELFA SmartBrief | Nov 20, 2009
GE Capital, a unit of General Electric, sold a five-year Islamic bond for $500 million. With the company suggesting that the deal might be the first of several such transactions, other Western firms might try to tap into the market. "We intend to be regular issuers in the sukuk market and are heartened by the support we have seen in this first transaction," said Kathy Cassidy, senior vice president and treasurer. Wall Street Journal, The (11/20)
9. 7 traits of high-revenue firms
ELFA SmartBrief | Nov 18, 2009
The 5% of public companies created since 1980 that have achieved $1 billion of revenue and continue to see 25% growth annually have seven traits in common, says David G. Thomson, author of "Blueprint to a Billion." They get customers to sell for them, provide the consumer extraordinary benefits through their products and reinvest their profits to sustain growth. "The future is growth or go," he adds, noting that the successful firms span many business sectors. BusinessWeek (11/17)
10. CIT Group's credit default swaps to be auctioned
ELFA SmartBrief | Nov 16, 2009
Credit default swaps from small-business lender CIT Group, which filed for Chapter 11 bankruptcy, will be auctioned Friday, the International Swaps and Derivatives Association said. About $3 billion in swaps will be auctioned off. CIT filed for bankruptcy Nov. 1, with $38 billion in outstanding debt. WorldLeasingNews.com (11/13)
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Companies in the news
- Airbus SAS
- Bank of England
- Becton Dickinson and Company
- CIT Group
- Daewoo Engineering & Construction Co.
- Embraer
- Fluor
- General Electric Company