The Secured Lender back issues from November 2004:
Relying on the Legal Opinions of Borrower's Counsel
Nov 01, 2004; ... Except for certain multijurisdictional situations, the opinions requested by a lender from counsel to the borrower, on the attachment, perfection and, if given, priority of security interests in personal property under Revised Article 9 of the Uniform Commercial Code, arc seldom worth the cost ...
Ten Traits of Top-Performing Business Development Officers
Nov 01, 2004; ... Deal flow is the life blood of any successful assetbased lending operation. To be sure, credit, underwriting and operations rank high. But without sufficient deal flow the enterprise is overhead without revenue and invested capital without returns. Recognizing the reality of making the numbers, ...
Background Investigations in the Asset-Based Lending Industry
Nov 01, 2004; ... Since my first Annual Commercial Finance Association Convention in Toronto in 1992, much has changed regarding the usage of background investigations as part of the due-diligence process. Most of the change has occurred in the last seven years. Let's look at a few of the happenings that have had ...
Understanding the Dynamics of the Supermarket Sector
Nov 01, 2004; ... Over the past several years, many lenders have recognized the potential benefits of servicing the retail segment. In response, some have even formed specialty divisions to focus on lending to retailers. Notwithstanding multiple formats, product assortments and pricing strategies, there are ...
ALIGNING INCENTIVES WITHIN AN ASSET-BASED LENDING DIVISION: An Economic Approach
Nov 01, 2004; ... The primary goal of a firm from a stockholder's oerspective is the maximization of shareholder value. Employees of the firm must think in this context at all times and strive for efficiency in order for this potential value to be reached. However, economic theory characterizes individuals as ...
Overcome the Myths of Negotiation for a Positive Selling Experience
Nov 01, 2004; ... Wouldn't it be great if every client agreed to all he terms of a sale, no questions asked and 10 negotiation required? Although most people answer "yes" to this question, any salesperson knows that negotiating a sale is never that easy. And while negotiation is one of the most commonly practiced ...
THE GREAT AUDIT DEBATE
Nov 01, 2004; ... In the current political climate, the outsourcing of jobs verseas is a key issue and a major topic of debate etween the candidates. In the asset-based lending community, outsourcing is a topic of debate as well, but with a slight twist. Asset-based lenders arc forever debating the merits of ...
THE TIDE IS TURNING: Current Developments in Accounting and Auditing
Nov 01, 2004; ... For about 100 years, the control of accounting rules and auditing standards rested in the hands of the accounting profession with very little input from other sources other than the SEC for rules relating to publicly-traded companies. Following Enron, WorldCom and other major corporate ...
IS A CERTIFIED FINANCIAL STATEMENT ALL IT'S CRACKED UP TO BE?
Nov 01, 2004; ... "Does it pass the sniff test?" Asset-based lenders ask this question when presented with a prospective borrower, aware that it is not always easy to sniff out trouble that may lie hidden beneath the surface of a company's financial statements. Indeed, it takes experience and judgment to ...
Hey, Dad
Nov 01, 2004; ... Dad explains how auto finance companies make so much money making zero percent loans-maybe "Hey, Dad, I've been reading in the papers that the financial subsidiaries of the big automobile companies make more money than the parents do. Why don't these car manufacturers just forget about ...
Philadelphia: A wireless city
Nov 01, 2004; ... A growing number of cities have contemplated offering Internet service to residents, workers and guests, but Philadelphia could jump to the forefront if their plan becomes a reality. "We like to say it should be like the air you breathe, free and available everywhere," said Lev Gonick, chief ...
THE LONG-RUN THREAT OF DOUBLE DEFICITS
Nov 01, 2004; ... Two almost unbelievable sets of statistics face the nation. America's current account deficit - what America has to borrow to finance its annual imports over exports is a dangerously high $540 billion, or5.1 percent of gross domestic product. As a result, our net financial liabilities to ...
INDUSTRY DEALS
Nov 01, 2004; ... Bank of America, Bane of America securities and Deutsche Bank Trust Company Americas acted as joint lead arrangers and joint book managers for a $675 million senior secured syndicated credit facility that replaces various previously outstanding facilities and provides additional capital ...
CFA CHAPTER NEWS
Nov 01, 2004; ... To obtain the latest information on CFA chapter events, visit www.cfa.com/Chapters/chapters_schedule.htm Atlanta Bill Nigut, a political reporter for Atlanta station WSB-TV for 20 years, was the guest speaker at the Chapter's October 14 meeting. During his years as a reporter, ...
CFA Chapter Roundtable
Nov 01, 2004; ... If money were no object, who would you like to have speak at your chapter and why? Stephanie Blaydes, Mid-South Chapter secretary/ treasurer; vice president, M&F Business Credit, Inc., Memphis, TN That's a big question! In trying to decide whom ...
CFA Education
Nov 01, 2004; ... The Advanced Field Examiner School will be held December 1 3 in Chicago. This "big-picture" program is conducted annually for field examination managers and senior examiners. Focusing on major issues and trends affecting field examination, the school assists participants in applying their ...
HOW TO MANAGE A CONTRACT IN CHINA
Nov 01, 2004; ... Since China joined the World Trade Organization in December of 2001, United States exports to China have been on the rise. In 2002, exports increased by 15 percent, and in 2003 they increased by 30 percent. But as American business interests in China increase, the cultural differences of doing ...
Groundbreaking Text on Asset-Based Lending Completed
Nov 01, 2004; ... The Combined Effort of Finance Professor and Industry Experts Published by CFA In the first definitive textbook ever written on the asset-based lending industry, Professor Gregory F. Udell, Banking and Finance Professor at Indiana University, has produced a volume that will prove ...
Integrity in Asset-Based Lending
Nov 01, 2004; ... Professionals in any industry are expected to work in an ethical manner. As important as diligence and dedication are to one's job, so is the integrity and character of the professional. This statement holds true especially in the environment of asset-based lending. Compared with other ...
Chapter Focuses on Industry's Young Professionals
Nov 01, 2004; ... Recognizing the importance of attracting and naintaining a pool of talented, energetic people, he CFA Midwest Chapter officers in January 2003 brainstormed for ways to expand membership, generate new ideas for events and increase attendance at those events. The officers were particularly ...
Web Templates: A Fortune 500 Look, On The Cheap
Nov 01, 2004; ... While the first "prefab" Web sites had all the lesign panache of a Ford Edsel, today's offerings can literally give your Web presence the feel of a Fortune 500 firm for under a hundred dollars. Essentially, the days when Web designers wouldn't return your calls for less than $10,000 are long ...
Legal Notes
Nov 01, 2004; ... Redback Networks, Inc. v. Mayan Networks Corp., et al. (In re Mayan Networks Corp.), 306 B.R. 295 (B.A.P. 9th Cir. 2004) (A landlord's draw upon a letter of credit securing a lease is applied toward the allowed claim, thereby reducing the landlord's unsecured claim against the bankruptcy ...
Disaster recovery plans
Nov 01, 2004; ... Are typical disaster-recovery efforts enough for today? For many businesses, the answer is no. With the nature of today's data, many businesses are turning to the notion of business continuity. This strategy involves implementing plans to continue business operations regardless of a man-made or ...
Among CFA Members
Nov 01, 2004; ... CapitalPartners Leasing: John Allman has joined the company's sales division as account executive. CapitalTempFunds: Michael Ban has joined the company as senior vice president and business development officer. Capstone Business Credit, LLC: Lucy Orozco has been named to the ...
Spotlight on CFA Members
Nov 01, 2004; ... In an effort to get to know CFA members better, THE secURED LENDER interviewed Neville Grusd, vice president, Merchant Factors, about his love of jazz. If you or anyone you know has an interesting hobby, please contact Michele Ocejo at 212-594-3490 or mocejo@cfa. com. Neville ...
CFA Forum
Nov 01, 2004; ... What should a lender do to protect itself when a client goes into bankruptcy? John Fox, chairman & CEO, Rockland Credit Finance, LLC, Owings Mills, MD The lender needs to make sure that his security interests are still in first position. second, approach the bankruptcy court ...
Comments and quotes
Nov 01, 2004; ... The following comments are chosen to amuse, stimulate and arouse our readers. In keeping with the column's theme, I would like to quote John Bartlett, from his book of Familiar Quotations, "The object of this work is to show, to some extent, the obligations our language owes to various authors ...