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Published 4 Nationally
โThe Nationโs Best Read Construction Newspaperโฆ Founded 1957.โ
Midwest Edition
www.constructionequipmentguide.com
January 4, 2014 โข Vol. IXX โข No. 1 โข 470 Maryland Drive โข Ft. Washington, PA 19034 โข 215-885-2900 โข Toll Free 800-523-2200 โข Fax 215-885-2910
Inside
ELFAโs MLFI-25 Reports New Business Volume
โThe Cat Island project will restore an important part of Lower Green Bay. Thanks to the hard work and dedication of all the partners, this effort will provide important spawning, nursery, and rearing habitat for fish and other aquatic species,โ said Charlie Wooley, the serviceโs Midwest regional deputy director.
The Equipment Leasing and Finance Associationโs (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed its overall new business volume for November was $6.6 billion, up 3 percent from new business volume in November 2012. Month-overmonth, new business volume was down 13 percent from October. Year to date, cumulative new business volume increased 5 percent compared to 2012. Receivables over 30 days were at 1.8 percent in November, up slightly from 1.5 percent in October. Delinquencies declined from 2 percent in the same period in 2012. Charge-offs declined to once again match the all-time low of 0.3 percent from 0.4 percent the previous month. Credit approvals totaled 76.5 percent in November, a slight decrease from 77.6 percent the previous month. Forty-seven percent of participating organizations reported submitting more transactions for approval during October, a level more in line with previous monthsโ activity after a spike to 82 percent last month. Finally, total headcount for equipment finance companies was up 1.4 percent year over year. Separately, the Equipment Leasing & Finance Foundationโs Monthly Confidence Index (MCI-
see RESTORATION page 64
see SURVEY page 84
Alm ost 3,000 Attend Ritchie Auction...54
Several local, state, and federal agencies are cooperating in an unusual and longawaited project to restore Wisconsinโs Cat Island barrier chain, which has been eroded by water, waves, and weather over the years. Cold Ushers in Smock Snowball Sale...88
ConExpo Retro See page 26 for an ongoing series of highlights from past ConExpos as they were reported in the pages of CEG.
Table of Contents ................4
Agencies Work to Restore Cat Island Barrier Chain By Mary Reed CEG CORRESPONDENT
Several local, state, and federal agencies are cooperating in an unusual and long-awaited project to restore Wisconsinโs Cat Island barrier chain, which has been eroded by water, waves, and weather over the years.
Recycling Section ........33-45 Attachment & Parts Section ......................................49-51 Truck & Trailer Section ........ ......................................67-77 Business Calendar ............78 Auction Section............82-89 Advertisers Index ..............90
Industry Remains Fragile Despite Job Gains By Lori Tobias CEG CORRESPONDENT
Thirty-nine states posted gains in construction jobs over the past year, but analysts say the industry remains fragile. โWe think the market is soft,โ said Brian Turmail, spokesman of
The Associated General Contractors of America. โPrivate sector demand is getting weak and employment gains can be fleeting.โ That concern was underscored by Mississippi, which led the country with a 17-percent increase, or 8,000 jobs, over
2012. Nonetheless, the southern state lost more than 2 percent โ 1,300 โ of those jobs from October to November, placing it at 49th out 50 states for growth. Conversely, Indiana led the monthly rankings with a 4.8 percent increase โ 5,400 construction jobs โ but saw a 3.4 percent
decline or about 4,100 jobs over last year. California added 31, 500 jobs for an increase of 5.2 percent. But even that is a mixed picture. โThey top the list in total jobs added,โ Turmail said. โBut itโs a tale of two markets. In coastal see JOBS page 56