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2014-abfj-janfeb

January/February 2014

Risk Management
Vol. 12 No. 1
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FEATURES

TD Economics Forecast: Economic Growth Will Accelerate Over the Next Two Years - Despite the fact that tax hikes curbed spending, a reduction in fiscal drag, increased activity in the housing market, and broader sales and business investment growth will lead the economy to grow by 2.7% in 2014 and 3.1% in 2015, according to a forecast by James Marple, TD Bank Group senior economist.
Volatility in Collateral Values: Using Best Practices Protects Against Long-Term Shifts - GB Credit Partners CEO Patrick Dalton examines best practices asset-based lenders should bear in mind in order to protect themselves against long-term shifts in collateral values. By preparing for ongoing volatility, lenders can avoid the trap of placing too much focus on current collateral values and strengthen their ability to manage risk over the full life of a loan.
Reconstructing the Crime — Lessons Learned on How to Catch A/R Fraud - Kevin P. Durkin, an experienced instructor with the Commercial Finance Association / Field Examination School, has spent hours plowing through court documents to study accounts receivable frauds and to learn how to better detect these scams in the future. He shares his insights on lessons learned.
Looking for the Best Outcomes… Early Warning Signs of Troubled Companies - In a Q&A with ABF Journal, Carl Marks partner Joe D’Angelo discusses some of the many warning signs of trouble that companies face, including liquidity crises, negative performance variances, delayed monthly reporting and others. Ultimately, he says timing is critical — if you have more time, there will be more options and alternatives to improve troubled businesses.
No Longer the Last Resort — ABL Lending Shows Increasing Asset Quality - Challenging ABL lending’s “not-for-the-faint-of-heart” reputation, AloStar’s Randy Cameron discusses ABL quality, the shifting ABL marketplace, options for entering the market and preparatory steps needed when considering entering the competitive ABL arena.
Bringing ABL to the Middle Market… A Conversation with the Head of Citi Commercial’s Expanding ABL Unit - In this Q&A with ABL industry veteran John DePledge, the new business head and national sales manager for Citi Commercial Banks’ ABL unit discusses his plans for the team, his build-out strategy and why the ABL market is going to get more competitive in the near future.

COMPANY PROFILE: NEW ON THE SCENE

Building One Relationship at a Time… Gerber Finance Appoints Friedman to Expand Footprint, Further Mission - In hiring Michael Friedman as VP of its new New England office, Gerber Finance expanded its ABL presence in another region of the country and reinforced its mission of getting to know its borrowers and their businesses on a personal level so they are better able to react to their clients’ changing needs.

FROM ALL FACETS

TURNAROUND CORNER

Financing a Successful Turnaround… 5 Best Practices Lenders Can Learn from National Envelope - Using National Envelope’s turnaround to illustrate key points, Salus Capital Partners’ executive vice president, Kyle C. Shonak, highlights five best practices that all lenders should consider when deciding whether to engage with a company seeking a turnaround.

SPECIALTY LENDING

The Receivables Exchange — The New Face of Factoring: Catching Up with RecX’s Managing Director of Business Development - ABF Journal contributing editor Howard Brod Brownstein catches up with Bos Smith, managing director, business development at The Receivables Exchange (RecX), an electronic exchange for the sale and purchase of accounts receivable. In association with NYSE Euronext, RecX connects large corporate sellers of receivables with diversified sources of liquidity, including banks, family offices and asset management funds. Transactions over RecX are structured to result in a “true sale” of the receivables, thus offering balance sheet benefits to sellers and attractive risk-adjusted returns to buyers.

BANKRUPTCY UPDATE

What’s in a Name? Just Ask Hostess Brands — The Value of Branding in Bankruptcy - Using the recently completed auction sale of Hostess Brands’ as a model, FTI Consulting’s global co-leader, Kevin Lavin, reveals the economic value embedded in established brand names, trademarks and other intangibles — value that buyers often are willing to pay top dollar for when they become available.

FINAL CUT

FinalCut: Former GE Capital Exec to Head New Investors Bank ABL Unit - ABF Journal illustrator Jerry Gonzalez provides his take on Investors Bank’s launch of an ABL group to be led by David Viggiano.

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