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January 8, 2014 • Vol. XXV • No. 1 • 470 Maryland Drive • Ft. Washington, PA 19034 • 215-885-2900 • Toll Free 800-523-2200 • Fax 215-885-2910
Inside
ELFA’s MLFI-25 Reports New Business Volume
PortMiami Makes Way for Economic Growth…8
Luke Lukens of Sumter County, S.C. photo
Crews pump cement into the building tower at the Sumter County Judicial Center in Sumter, S.C. jobsite. May Equipment Partners With NSTH…12
Judicial Center Plays Key Role Revitalizing Sumter By Cindy Riley CEG CORRESPONDENT
NCM Demos Old Office Building…18
Table of Contents ................4 Truck & Trailer Section ........ ......................................35-38 Recycling Section ........39-49 Attachment & Parts Section ......................................51-54 Auction Section............70-77 Business Calendar ............71 Advertisers Index ..............78
Described as playing a key role in the revitalization of the downtown area, the new Sumter County Judicial Center in Sumter, S.C., is a source of pride for those it serves. In a period of 21 months, construction crews
transformed a parking lot into a civic landmark that will serve generations to come. “The Sumter County Judicial Center is located in the heart of our downtown district,” said Sumter County clerk of court James C. Campbell. “We’re diagonally behind the historic courthouse, which has served this com-
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 $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 months’ 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 Foundation’s Monthly Confidence Index (MCI-
see SUMTER page 32
see SURVEY page 60
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. “We think the market is soft,” said Brian Turmail, spokesman of
The Associated General Contractors of America. “Private sector demand is getting weak and employment gains can be fleeting.” 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 — 1,300 — 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 — 5,400 construction jobs — 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. “They top the list in total jobs added,” Turmail said. “But it’s a tale of two markets. In coastal see JOBS page 56