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JulyAugust2017Cover

July/August 2017

Risk Management
Vol. No. 5
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COVER STORY

The Tiger Never Sleeps: As Retail Distress Continues, Tiger Group Provides More Sophisticated Services - The liquidation business has made great strides since Tiger Group opened its doors in 2001. ABF Journal editor Nadine Bonner speaks with Tiger Co-Founder Dan Kane and COO Michael McGrail to discover how two accountants helped build one of the country’s largest, most powerful appraisal and liquidation businesses.

FEATURES

A Peek Behind the Curtain: ABL Underwriters — Evaluating Risk to Seal the Deal - Since the days when tall ships carried cargo across dangerous seas, underwriters have assessed the risks involved before signing off on financial transactions. While the nature of the risks may have changed, underwriters still conduct thorough due diligence to evaluate a company’s stability and the state of the collateral before deals are closed. ABF Journal contributor Lisa Miller speaks with three underwriters to learn exactly how they make those evaluations and which signs point to a successful outcome.
How Financial Statement Fraud is Committed: Five Mini Case Studies - Financial statement fraud is not as prevalent or publicized as embezzlement, but as certified fraud examiner Anne Eberhardt points out, the losses are much higher. She offers five mini case studies of fraud, including some perpetuated by well-known companies, as a cautionary tale. If something seems too good to be true, it usually is.
Separating Good Business from Bad Business: Managing Your Exposure to Money Laundering - Money laundering is the process of making illegally obtained money appear legal. These funds may be used by drug cartels or to fund terrorist activity. The U.S. has instituted strict regulations against money laundering and billions of dollars in fines have been levied against financial institutions that have failed to comply. Sven Stumbauer offers guidelines to help companies abide by the regulations and be more aware of the potential for illegal activity.
Top Priorities for Wells Fargo’s New Head of Capital Finance — Customer Service and Team Building - In May, David Marks was named head of Wells Fargo Capital Finance, which joined the newly-formed Wells Fargo Commercial Capital group in January. In his new position at WFCF, Marks completes a full circle after a 30-year career at the bank, which began by doing workouts in the oil and gas industry. Marks reminisces about his career and shares his vision for the future with ABF Journal editor Nadine Bonner.

TURNAROUND CORNER

The Communication Protocol: An Important Component of a Business Turnaround - The initial stages of a turnaround can be chaotic for both the consultant and the stakeholders. Establishing a communications protocol at the start of the engagement can create an orderly process that keeps everyone updated in a timely fashion. Patrick Walsh provides a protocol and explains how management, lenders and the consultant will benefit from using it.

SPECIALTY LENDING

Following the Two-Second Rule: Building a Brand in the Finance Business - Brands like Cheerios, Toyota and Coca Cola have become ubiquitous. Once confined to radio, television and print publication ads, they now follow us as we surf the internet, peer out from the margins of our Facebook pages and insinuate themselves into our Twitter feeds. Charlie Perer argues that small lenders need to establish their own brands to compete with the industry giants. A strong brand can set a lender apart from the pack and establish an identity that will resonate with borrowers.

LEGAL LINES

Financing Government Receivables: State Governments Subject to Notification Like Other Account Debtors - Assigning payment rights is a basic concept that enables borrowers to obtain working capital. However, matters can be more complex when working with government departments. Jeffrey Wurst explains a recent decision in a Florida appellate court that requires state government departments to make payments when the debt has been reassigned to a factor if proper procedures have been followed.

FINAL CUT

Amazon Provides More Than $3B in Small Business Loans - Amazon has provided more than $3 billion in short-term loans to sellers who need working capital. ABF Journal illustrator Jerry Gonzalez salutes the Amazon Lending program and Amazon’s recent Whole Foods purchase.

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