2006 June Issue

JUNE 2006
2006 MONITOR 100

COVER STORY

2006 Monitor 100 as M&A Dust Settles, Leasing Industry is Back on Track… Still, Challenges Lie Ahead
After adjusting for the impact of 2004 consolidations, it’s clear that the leasing industry is back on track and concentrating on organic growth. The forecast for 2006 suggests continued expansion; however, change is looming in the background as leasing companies try to adjust to today’s new realities.
(Ref # MON021 - Special Order Only!)

FEATURES

Beyond the Leasing Product… is it Best to ‘Commodify’ or Customize?
By Thomas Wajnert and Steven Sherman, Fairview Advisors
This year, Tom Wajnert and Steve Sherman of FairView Advisors take a look at which leasing organizations are delivering the “leasing product” and which are going beyond the product to deliver “leasing plus” services. Simply stated, is it best to “commodify” or customize?
(Ref # TRE072)

The Key to the Future: Foundation’s Industry Future Council Report
By Lisa A. Levine, Equipment Leasing & Finance Foundation
No CEO wants to miss the future. But seizing the opportunities the future holds requires one to ask the right questions. That’s where the Equipment leasing & Finance Foundation’s 2006 Industry Future Council Report comes in. (Ref # ASC009)

New on the Scene: Breaking the Mold in so Many Ways
A Profile of Terry Begley, President of PNC Equipment Finance
With many years of experience and a proven track record in structured products coupled with deep-rooted credit and lending skills, Terry Begley was a solid candidate for his appointment as PNC Equipment Finance’s president. (Ref # PRO088)

The Ultimate ‘Know-How’ Guide for the Equipment Leasing Sales Professional
By Scott Kiley, Fifth Third Leasing Company
Fifth Third Leasing’s Scott Kiley shares some practical and realistic tips for every stage in the process of closing an equipment leasing transaction. (Ref # SAL136)

A Challenging Environment… Sky High Equipment in Turbulent Times
By R. Edward Albert, III, Milestone Advisors, LLC
Conditions in the domestic airline industry have created a challenging environment for equipment lessors. While today’s high fuel costs and overcapacity may be temporary, the competitiveness is not likely to diminish in the near future. (Ref # AIR041)

Sarbanes Oxley & The Dangers of the Industry Practice Rule
By Bryan B. Barnhart, Nossaman Guthner Knox & Elliott, LLP
It is important for public companies’ management to understand the limited role that the Industry Practice Rule plays in appropriate accounting so they can work with their attorneys and accountants to avoid attracting unwelcome regulatory attention to their companies. (Ref # GEN028)

COLUMNS

SPECIAL REPORT
Executive Summary: A Look at the CTC/Protocol on Aircraft Financing Transactions
By James Cameron & Mark Goodson, DLA Piper
The Convention on International Interests in Mobile Equipment, otherwise known as the Cape Town Convention, and the Aircraft Equipment Protocol came into force in March of this year. This summary gives an overview of the most important aspects of the CTC/Protocol and provides an indication of its effect on aircraft financing transactions. (Ref # AIR042)

SURVIVING SCUTINY
Lenders, Take Heed! Recent Accounting Changes Deserve Your Attention
By Michael Fox, RSM McGladrey
Financial statements are a key tool for any lender looking to accurately assess the risk associated with a customer, and regulatory changes can make that job even more difficult. Currently, two significant changes with FIN 46 and FAS 123(r) deserve special attention. (Ref # ACC033)

LEGAL WATCH
Conflicting Decisions… A Debtor’s Ineligibility to File Under BAPCPA
By Lesley Anne Hawes, McKenna Long & Aldridge LLP
Many bankruptcy courts have published conflicting decisions on the effect of the filing of a bankruptcy petition by a debtor who fails to meet the filing eligibility requirements because the debtor failed to obtain pre-bankruptcy credit counseling now required for individuals under the BAPCPA. The struggle continues with implications for creditors and debtors alike. (Ref # LGL1071)

DISPATCHES FROM THE TRENCHES
Dr. Jekyll, Mr. Hyde & the ‘Hell or High Water’ Clause: Lyon Financial Services, Inc. V. Woodlake Imaging, LLC
By Kenneth P. Weinberg, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Many bankruptcy courts have published conflicting decisions on the effect of the filing of a bankruptcy petition by a debtor who fails to meet the filing eligibility requirements because the debtor failed to obtain pre-bankruptcy credit counseling now required for individuals under the BAPCPA. The struggle continues with implications for creditors and debtors alike. (Ref # LGL1072)