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Construction Equipment and Machine Tool Repossessions

BY ALM Staff
July 28, 2009

The most recent results of Nassau Asset Management's NasTrac Quarterly Index (“NQI”) show that the company's level of repossession and liquidation activity for the first quarter has risen significantly over the past year in the construction equipment and machine tool categories, while also showing continued high activity in trucking.

According to the NasTrac survey results, repossessions and liquidations of construction equipment nearly tripled in the first quarter of 2009, as did machine tool repossessions, as compared with the same quarter of 2008. The figures, culled from the company's activity reports for both repossessions and orderly liquidations, show the dramatic effect of the economy on the construction, manufacturing, and transportation industries, even as signs surface of a possible economic turnaround.

Machine tool repossessions have undergone a steady and continuous increase since the third quarter of 2007, according to Nassau's records. Truck repossessions processed by Nassau increased slightly, by approximately 2% in Q1 2009, as compared with the same period in 2008.

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