Conference Issue 2009
October
Although the Economy Shows Signs of Leveling Out, PNC’s Economist Says We’re Not Out of the Woods Just Yet
By Amanda L. Gutshall
They say so much can change in a year — and from the time we spoke with PNC Economist Robert Dye in the late summer of 2008 until now, in August 2009, we have seen a multitude of bad news stories, but we are weathering the continued after effects of the mid-2000s “economic party” attitude. With the after-party crash, came tumult in the financial and consumer sectors. As we continue to experience a very long, drawn out and somewhat painful hangover effect, we hope to sweep up the confetti, take some aspirin and head toward a better next few years.
The Impact of the Economic Recession on Equipment Leasing Market Segments
By Bruce Kropschot
The year 2009 has certainly been challenging for our industry, with new business volume decreasing significantly, high delinquency levels and charge-offs, plus many traditional funding sources evaporating. However, the seasoned industry veterans at The Alta Group recognize the economic recession has impacted various segments of the market differently. Bruce Kropschot explains the impacts as well as the emergence of the “new normal.”
Equipment Leasing and Finance Association: It’s Full Steam Ahead
With Some Changes at the Top
By Stuart P. Papavassiliou
As the fall conferences approach, the Monitor continues its tradition of spending time with the president of the Equipment Leasing and Finance Association to find out about the association’s accomplishments, setbacks and plans for the coming year. But unlike previous interviews, the winds of change brought about an unexpected addition to this year’s update.
Turnaround Management
When Bad Things Happen to Good Leasing Companies
By Howard Brod Brownstein and Noel M. Parsons
When a lessee’s cash-flow problems lead to requests for extensions and covenant waivers, and market forces threaten profitability and even the existence of a lessee’s business, it’s time for the leasing company to call in a turnaround professional.
Marine Finance Rule #1
Create Value at the Bottom of the Cycle
By Matt McCleery
Making sense of the highs and lows of the shipping markets requires, to a large extent, an insider’s understanding. But as Matt McCleery explains, rule number one in marine finance becomes clearer when a Greek ship owner and an Irish American publisher of maritime financial information meet in a New York hotel bar and the following conversation ensues…
State of Funding
A Story of Have-Nots and Have-Nots
By David D’Antonio
Where we are today? In finance circles it is a story of the have-nots and have-nots. As we surveyed the marketplace to find out who is lending to leasing companies or investing in lessors, we had a difficult time determining who’s doing what these days.
First American Equipment Finance
An Unlikely Lessor 'Does Right' By His Customers
By Christopher Moraff
First American Equipment Finance founder and CEO Bill Verhelle gave up a promising career in law to follow a passion for entrepreneurship. Nearly 15 years later, his company, First American Equipment Finance, is successfully riding out the recession and continuing to realize double-digit growth while taking the time to give back to the community. At the same time, Verhelle and his company seek to “do right” for their customers and work toward the greater good.
Certified Leasing Professionals
Rough Waters Make Skillful Sailors
By Theresa M. Kabot
Adversity is the springboard to achievement. Although the state of the economy and our industry may be sounding Mayday, the call to action at the Certified Leasing Professional Foundation is to sail before the mast. Now is the time to prepare for the opportunities that will surface after the storm.
The Sweet Smell of Success in Equipment Leasing
Turning Desperation Into Inspiration
By Linda P. Kester
Ah, the sweet smell of success… It’s a sensation everyone is striving to experience more of these days. Linda Kester returns to remind us that in selling equipment leasing, success often requires a lot of hard work and sometimes, a bit of inspiration.
Issues With Proving Up Damages From Computer Records
By Andrew K. Alper
In the following article, Andrew Alper looks back to 2005, the case In re Vinhnee and the issues with the provision of foundational evidence required by the court with regard to the introduction of computer records. As he shares from his own experience, when relying on the Vinhnee case, the court can get hung up on the matter of a witness’ ability to “import an aura of verisimilitude.” And that can be confounding.
Fair and Clear: Liquidating Damages and Indemnity Provisions
By Kenneth P. Weinberg
This edition of Dispatches From the Trenches discusses two recent cases from the perspective of liquidated damages and indemnity provisions: National City Healthcare Finance v. Refine 360, LLC and Midwest Concrete Placement, Inc. v. L&S Basements, Inc. The two cases illustrate the necessity of being both fair in terms of liquidated damages provisions and clear with regard to indemnification provisions
