Magazine article Business Credit

Open Accounts

Magazine article Business Credit

Open Accounts

Article excerpt

Commerce Department Releases Data on Equipment Leasing

The U.S. Department of Commerce released its trends and forecasts for equipment leasing in the United States. Nearly $170 million worth of equipment was leased in 1996. This is compared to $151.4 million (or 28 percent) of total business investment in equipment in 1995. The department says $180 billion worth of equipment was leased in 1997 and predicts approximately $183.4 billion in 1998.

By equipment type, leased agriculture, electrical power and materials handling equipment made strong showings. Total market decreases emerged in four key asset areas: computers, construction, industrial/manufacturing, and trucks/trailers. Incremental decreases across the asset sector-mainframes, peripherals, small systems and software-pulled down the annual volume of leased computer equipment in 1996 to 17.8 percent overall, down from 21.9 percent in 1995. However, despite the 1996 decline, computers and transportation equipment are the most leased assets in the industry.

NFIB Campaign To Abolish the IRS Code Gains Steam

NFIB's Campaign to abolish the IRS Code has gained the endorsement of Senate Majority Leader Trent Lott, Speaker of the House, Newt Gingrich, and a bipartisan group of more than 100 other federal legislators.

Proposed Amendments to NACM Bylaws

The following amendments were put forth for consideration at the December, 1997 NACM National Board Meeting:

Section 1. General: General membership in this association shall be composed of sole proprietorships, corporations, partnerships or other business entities conducting commercial operations in the course of which they extend secured or unsecured credit to others who are conducting commercial operations.

The foregoing shall exclude from general membership any business entities engaged in providing goods or services to the commercial credit industry at large, industry credit groups, adjustment or business entities providing debt collection which had not been accepted for membership prior to June 1, 1977, provided such membership has not lapsed since admission, all of whom may qualify for associate membership.

This amends Article 2, Section 1.

Section 2. Associate Members: Associate membership shall be granted by the Association to persons, firms or entities engaged in the business of providing goods or services to the commercial credit industry at large. Associate members shall not be entitled to hold office in the Association, serve as a member of the Board of Directors, vote on matters that come before the membership or share in the treasury surplus or the distribution of assets of the Association. …

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