2003 March Issue

MARCH 2003
International & Large Ticket Leasing

FEATURES

U.S. & CANADA: Transactional Structures & Legal Issues in Cross-Border Financing
By Shephard Melzer
Canada is an important market for equipment leasing transactions as its business and legal frame-works are very receptive to cross-border entry of U.S. leasing companies. Special attention needs to be paid to ensure compliance with federal and provincial laws and structuring transactions in Canada. (Ref # INC067)

Water Assets & Subsidies: Unique Challenges to the Appraisal Process
By Mark J. Rigel, ASA, CFA
In valuing subsidized water assets, an appraiser must consider the various implications that arise from the existence of the subsidy. This article provides an overview of the process of recognizing subsidies during appraisals and its application in closing large cross-border water transactions. (Ref # LTL011)

Railcar Demand - An Outlook for 2003 & Just Beyond
By Stephen McClure
In the following article, Stephen McClure of CIT Rail Resources comments on the impact the economy and the potential conflict with Iraq will have on railcar demand. (Ref # RAI009)

QTE Leasing: A Powerful Structure Whose Time Has Come
By Michael Tyler and Theresa Menders
Over the last twelve months, Qualified Technological Equipment (QTE) Leasing has become one of the mainstays of the leasing business. This article describes three major challenges that have held back the market in the past, and outlines some approaches that make it possible to handle these challenges successfully. (Ref # CML041)

Global Leasing Strategies: New Demands on Operational Structures & Systems
By Steven E. Byrnes and David Pedreno
What does it take to plan a strategic systems and operations structure to support global marketing reach for an equipment lessor? This article will focus on establishing operations in Europe and will highlight some of the key issues that should be considered before the marketing people hit the streets. (Ref # GLB002)

Asset Management Automation… Equipment Leasing Association's Initiative Could Set Industry Standards
By Ray Garcia
The ELA recently partnered with Tabitha Software to provide leasing institutions with an industrywide technology platform to automate processes throughout the leasing lifecycle.The leasing industry is poised to exploit the opportunities of this automation, and if the early signs of reception are an indication of success, ELA’s initiative could set industry standards. (Ref # EQM117)

COLUMNS

CAREER MOVES
Blasting Resumes
By Jim Pawlak
Jonathan is considering using a service to blast his resume to a number of employers. He writes: “The service will cost $1,800, plus the cost of postage, envelopes and resume printing. It will send my resume to 500 “targeted” employers. The statistics on their success rate are impressive.” He’s wondering whether it’s worth the money. (Ref # JBS069)

DISPATCHES FROM THE TRENCHES
FINANCE LEASES: Double Checking Those Indemnification Agreements
By Kenneth P. Weinberg, Esq.
This issue of Dispatches from the Trenches discusses a pro-lessor case relating to the benefits that the Uniform Commercial Code grants to “financing leases.” It might also prompt you to double-check your indemnification agreements. (Ref # UCC009)

LEGAL WATCH
Revised Article 9: Can Transition Rules Save Your Transaction?
By Lesley Anne Hawes
The Bankruptcy Court’s decision in In re Stout is of particular interest to secured creditors as it analyzes the effect of the transition rules of Revised Article 9 and the application of those rules to transactions that occurred prior to the enactment of Revised Article 9. (Ref # LGL097)

TOP GUN
Back to Basics: Structuring to Win
By Michael Granieri
This past year was a difficult time for a lot of leasing salespeople around the country. A number of leasing companies folded and funding sources are now few and far between. What was an A credit two years ago is no more as credit criteria has tightened, and companies are taking a wait-and-see approach to equipment acquisitions. (Ref # SAL125)