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Midwest Edition
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December 5, 2015 • Vol. IXX • No. 25 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Inside
Finance Index for Oct. Reveals Volume of $7.7B
Mid Country Hosts 18th Annual Open House… 10
Made up of four separate road projects, the work took place in Owatonna, Minn., located on I-35, 70 mi. (112 km) south of Minneapolis. There is no doubt that residents are pleased that construction crews and equipment left and the dust has settled. A city map shows the highways are major connections to this rural town of 25,000 residents. Statistics show that they carry high volumes of traffic. The combined ADT on I-35 and TH 14
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1.046 trillion equipment finance sector, showed its overall new business volume for October was $7.7 billion, down 8 percent from new business volume in October 2014. Volume was down 8 percent from $8.4 billion in September. Year to date, cumulative new business volume increased 3 percent compared to 2014. Receivables over 30 days were 1.0 percent, down from 1.1 percent the previous month and down from 1.26 percent in the same period in 2014. Charge-offs were 0.27 percent, unchanged from the previous month. Credit approvals totaled 80.1 percent in October, down slightly from 80.5 percent in September. Total headcount for equipment finance companies was up 5 percent year over year. Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCIEFI) for November is 60.2, an increase from the previous month’s index of 58.7. ELFA President and CEO William G. Sutton said, “Performance in the equipment finance market was mixed in October: new business volume weakened somewhat — both in terms of the month- and year-earlier periods — while portfolio quality remained
see INTERSTATE page 80
see ELFA page 115
The work featured bridge demolition and construction along with nearly 20 mi. (32 km) of road improvements on a system of interstate, state and county highways. Holiday Gifts for Big (and Little) Contractors…14
Work Wraps Up Along 20-Mile Stretch of I-35 in Owatonna By Dick Rohland CEG CORRESPONDENT
Li ebherr Holds Sal es Semin ar in Vi rgi nia…16
Table of Contents ................4 Attachment & Parts Section ......................................43-49
To the relief of local residents and interstate travelers, a two-year road improvement project sprawling the length and width of a small southern Minnesota town recently ended. The work featured bridge demolition and construction along with nearly 20 mi. (32 km) of road improvements on a system of interstate, state and county highways.
Snow & Ice Section ......67-74 Recycling Section ......81-101 Truck & Trailer Section ........ ..................................103-111 Business Calendar ..........115 Auction Section ......115-123 Advertisers Index ............122
Construction Spending Reaches Seven-Year High Construction spending in September reached a new seven-year high and climbed at the fastest rate since early 2006, according to an analysis by the Associated General Contractors of America. However, total spending on nonresidential construction declined by 0.1 percent between August and September as growing workforce shortages likely impacted the amount firms were
able to perform for the month. “Overall demand for construction continues to grow at a very robust rate,” said Ken Simonson, the association’s chief economist. “It appears, however, that many firms performing private nonresidential work could not find enough qualified workers in September to keep pace with growing demand.”
Construction spending in September totaled $1.094 trillion at a seasonally adjusted annual rate, 0.6 percent higher than the August total and 14.1 percent higher than in September 2014, Simonson said. He noted that the total was the highest since March 2008 and the year-over-year growth rate was the strongest see AGC page 60