The New Leasing Model & Technology... Who's Got the Holy Grail?
By Susan Carol, President & CEO, Susan Carol Associates Public Relations
Just as the equipment leasing industry is no longer focused solely on
leasing, so too are software providers no longer just selling technology.
Both are thinking more broadly and organizing their strategies around
the concept of a new leasing company model. Since technology is still
a critical part, lessors and providers seek the "Holy Grail" - one
system that unites front-end systems with back-end solutions.
Emerging Business Model Drives Need for Next-Generation Technology
By Andrew Denton, Director, CHP Consulting
As the emerging asset finance business model gains traction in North America,
technology systems providers will scramble to fill the current functionality gap in the market.
Those who want to provide real value will introduce systems that lay the building blocks for companies to develop new, innovative financial products - helping the traditional lease finance industry reinvent itself.
Capturing the Residual Edge: Expected Values & Quantifiable Risk
By Todd Wolf, CEO, Tabitha Software
The lessor who can consistently win business by accurately pricing
the expected value at the lease's inception and properly managing
the risks throughout the life of each lease expects to capture the
exact difference between the actual and expected value on every
lease transaction over time. This can be thought of as capturing their
residual "edge."
Maintaining a Vibrant Presence...
Independents Continue to Evolve in IT Leasing Space
By Ken Steinback, Chairman & CEO, CSI Leasing
In spite of the challenges posed by a slow economy, low interest rates and falling
equipment prices, IT leasing remains a viable and vibrant industry. Recent market changes
have forced IT leasing companies to move away from straight financing toward value-added
services that make life easier for IT executives in tackling their daily and long-term issues.
Lease Securitization: New Challenges For Issuers - Part II
By Peter Humphreys and Howard Mulligan, Partners, McDermott Will & Emery
This is the second part of a two-part article discussing recent trends
in equipment lease securitizations and the benefits to, and challenges
for, an originator considering the securitization of equipment lease receivables. This section covers topics ranging from securities law issues
to the treatment of residuals. Part I appeared in the June issue of the Monitor.
FIN 46R - The Saga Continues
By Ruth A. Strauss, Partner, Chapman and Cutler LLP
Alas, the saga continues and professionals are amazed at the unexpected ways in which FIN 46R
(revised in December 2003) can impact their transactions. In the following article, Ruth Strauss, a
partner at Chapman and Cutler, identifies key issues worth considering in the structuring process
of a deal.
The 12 Secrets of Commercial Credit Scoring:
Confessions of a Closet Quant Jock (Part II)
By Thomas E. Ware, SVP, PayNet
In this, the second part of a three-part series, PayNet's Tom Ware continues to divulge the
secrets of commercial credit scoring. A self-admitted closeted "quant-jock," Tom's confessions move the topic from the realm of the arcane to the world of clarity. To conclude the series, Part III will appear in the September issue of the Monitor.
COLUMNS
PROFILE OF SUCCESS
Charting New Waters:
An Interview With Radnor Leasing's Peter Vieira
By Christopher Moraff, Associate Editor, Monitor
It takes a special kind of person to drop out of a secure corporate
position with a major bank and branch out on his own, particularly when
the venture in question involves charting the often unpredictable waters
of lease brokerage. One meeting with Peter Vieira revealed what kind
of person this is.
DOING IT RIGHT... THE FIRST TIME
Cyence International - Reaching Significant Milestones, Exceeding Expectations
By Greg McIntosh, President & CFO, Cyence International
A developer of lease-management software applications, Cyence International celebrated significant
milestones this past March: its ten-year anniversary and the first month in which its applications
processed more than $1 billion in financial transactions. For this edition of the Getting It Right the
First Time column, the Monitor asked Greg McIntosh, Cyence's president and CFO to share the provide
insight into the company's apparent success.
DISPATCHES FROM THE TRENCHES
Unsafe At Any Speed: Dangerous Practices in Small-Ticket Leasing
By Kenneth P. Weinberg, Esq., Baker, Donelson, Bearman, Caldwell & Berkowitz
This edition of Dispatches From the Trenches addresses some practices commonly used in small-ticket leasing transaction that - when put to the test - often prove disastrous.
ALTERNATE PERSPECTIVES
Are You "Gilding" Your Resume? When "Little White Lies" Become Big Deal Breakers
By Michael A. Toglia, Senior Vice President, Molloy Associates
Think that the "little white lie" on your resume won't matter in the end? Think again. They have a nasty habit of snowballing into big unsupportable deal breakers when it matters most - either right before an employment offer is extended or worse yet, during the guarantee period.
LEGAL WATCH
When the Court Constitutes a "Sale" as a "Loan"... The Importance of Filing a UCC-1
By Andrew K. Alper, Partner, Frandzel Robins Bloom & Csato, LC
Much has been said regarding the problems left in the wake of the CMC collapse, but when the court found that a transaction between CMC and NetBank
constituted a loan and NetBank had not perfected its lien on chattel paper by way of a UCC-1 filing, the bank was rendered as an unsecured creditor for more than $47 million.
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JULY/AUGUST 2005
