Equipment finance execs: Recruitment a challenge
MCKINNEY, Texas — Equipment finance executives are working to attract new talent as the industry continues to face recruitment challenges. “The biggest challenge we’re starting to address — but we're so far behind the curve — is the influx of new
Outdoor Recreation Act to bolster equipment industry
America’s Outdoor Recreation Act of 2023 introduces three programs aimed at investment in outdoor recreation infrastructure poised to prop up the equipment industry. America’s Outdoor Recreation Act (AORA) was introduced on March 16 by U.S. Sens. Joe Manchin (D-W.V.), chairman of
Ryder expands lease, rental fleet with EVs
Commercial vehicle rental and leasing company Ryder System is adding thousands of light-duty, electric vans to its fleet. Ryder is adding 4,000 commercial electric vans manufactured by BrightDrop, a subsidiary of General Motors, by the end of 2025. The move will
A solution for ongoing labor shortage: DEI
Diversity, equity and inclusion offers a possible solution to the ongoing labor shortage affecting the equipment industry. The labor shortage in the equipment industry is a growing concern for several sectors. With the changes in the labor market over the past
3 best practices for navigating rising interest rates
As interest rates continue to rise and cash flows tighten, equipment dealers must find the best ways to navigate today’s hawkish interest rate environment to ensure access to funds. Equipment dealers of all sizes must manage rising interest rates to meet
Opinions mixed on finalized CFPB section 1071 Dodd-Frank rulemaking
Opinions are mixed on the Consumer Financial Protection Bureau’s finalized rule that requires small businesses such as equipment dealers to collect information from customers, as financial institutions prepare for new small business lending reporting requirements. The CFPB issued a final rule
Lindsay revenues decline as ag industry normalizes
Irrigation and infrastructure OEM and technology provider Lindsay Corp. posted declining year-over-year irrigation revenue as unit volume returns to normal seasonality. Lindsay’s North American irrigation revenue for the second quarter of 2023 were $90.4 million, down 10.2% from Q2 last year,
Teleo expands semi-autonomous capabilities
Teleo, a heavy equipment technology company, is expanding its customer base and dealer network as the company looks to implement its semi-autonomous technology. OEMs such as Honda and Bobcat plan to expand into autonomous vehicles, but their products are in the
New orders for core capital goods inch up in February
New orders for core capital goods increased slightly for the second straight month as companies continued to navigate rising interest rates. The seasonally adjusted value of core capital goods orders, which excludes aircraft and defense equipment, landed at $75.2 billion, an
Equipment finance industry confidence declines in March
Confidence in the equipment finance industry declined slightly in March following three months of growing confidence as recession and inflation woes continue. The Monthly Confidence Index for the Equipment Finance Industry landed at 50.3 for March, down from 51.8 in February