Partnerships, workforce development key to addressing manufacturer, dealer labor shortages, US rep says
Equipment and congressional leaders are emphasizing the need for infrastructure funding and workforce development to support the equipment industry. U.S. Rep. Dina Titus (D-Nev.) ended her tour of CONEXPO 2023 in Las Vegas last week by speaking with the media, along
New Holland homes in on electric rentals
LAS VEGAS — New Holland Construction, a subsidiary of CNH Industrial, aims to capitalize on equipment rental opportunities via new electric vehicles. “As far as ease-ability and serviceability [of EVs], that’s a big advantage for a lot of our customers, especially
Why John Deere plans to buy satcom services
WASHINGTON— Agriculture equipment manufacturer John Deere wants to add more satellite connectivity solutions to its equipment that can help farmers work more efficiently. The company is assessing a slew of satcom proposals from multiple vendors as it looks to connect its machines and
US equipment industry eyes electrification
LAS VEGAS — Electrification in the equipment industry is building slowly in the United States but trails years behind Europe, which outpaces U.S. EV sales by about 2.5 million vehicles. “The biggest trend right now is electrification,” DLL Head of Regional
Equipment auction volume jumps as supply improves
LAS VEGAS — Equipment auction volume is increasing amid rising inventory levels and seasonality trends. “Auctions are growing; you’re going to see a lot more equipment rolling through auction,” said Mitch Helman, sales manager at AuctionTime, EquipmentFacts and HiBid — subsidiaries
BMO, BNP Paribas form cross-border partnership
BMO and BNP Paribas have formed a long-term commercial finance agreement that allows commercial clients from both banks to utilize the combined global services. The new, trans-Atlantic partnership began as a result of BMO’s purchase of Bank of the West from
PacWest, Western Alliance stocks continue to plummet
Regional equipment financiers PacWest and Western Alliance Bank continued to see their stock crater Monday as investors showed concern over banks. Several banking stocks declined Monday as part of the fallout from the closure of both Silicon Valley Bank and Signature
Signature Bank collapses, enters FDIC receivership
Signature Bank, the parent company of equipment financier Signature Financial, entered Federal Deposit Insurance Corp. receivership Sunday following the collapse of Silicon Valley Bank on Friday. Signature Bank was closed by the New York State Department of Financial Services on Sunday
Investors concerned about regional equipment financiers after SVB collapse
The run on Silicon Valley Bank on Thursday and its subsequent collapse Friday has sparked investor concern with regional banks offering equipment finance with high exposure to unrealized losses. Santa Monica, Calif.-based Silicon Valley Bank’s (SVB) collapse was the product of
Arvest Bank building new core
Arvest Bank is switching from its existing core to a new one built from scratch by a development team working closely with the bank. The $26 billion financial institution has been in the building phase for the past 10 months, adopting a
