Back to Issue Archive
ABFJ-JULAUG-2010

July/August 2010

Products & Services Issue
Vol. 8 No. 5
Click Here To See Other Issues

FEATURES

Commercial Finance Software… Are You Still Driving a Hoopty*? - When in comes to your commercial finance software system, are you like the guy down the street who’s trying to squeeze five more years out of a clunker that’s held together with the technological equivalents of spit, glue and coat hangers? If so, the following article is a high-level overview of what it takes to pick out a sleeker model. *Urban Dictionary defines a hoopty as any car that meets certain characteristics, including but not limited to requiring the driver to enter through the passenger side; requiring half a clothes hanger to hold up the exhaust pipe and the other half to serve as an antenna; and/or requiring the manual up and down movement of the turn signal to signify the driver’s intention to turn. (Variant spellings: hooptie, hoopdie, hoopdy. See also: clunker, jalopy)
What’s in a Name? When Verifying Debtor Names, It Can Mean the Difference Between Collecting a Debt or Going Home Empty-Handed - The current economic situation, and the resulting increase in charge-offs and delinquency rates, now has many lenders scrambling to re-examine their policies and practices regarding protection of the collateral securing such loans. Ensuring the correct debtor name is sourced and filed on a UCC Financing Statement is the beginning part of that process.
Elegant & Effective…Letters of Credit in Commercial Loans and Bankruptcy (Part 1 of 3) - For many years, letters of credit have been used to facilitate sales of goods and to provide credit enhancement for all kinds of contractual obligations. Despite the widespread use of letters of credit over the years, many view letters of credit as complicated and esoteric instruments.

 

CORPORATE/EXECUTIVE PROFILE

The Road to Huntington — Long, Winding and Worth It! - Huntington Bank’s James Cannella admits his personal journey to launching the Ohio-based bank’s new ABL operation has been filled with some sharp turns, short stops and a couple of repeat visits. But the ride that brought him to lead the new ABL group at Huntington Bank has been more than worth it.

 

FROM ALL FACETS

TURNAROUND CORNER

To Save the Company… Change Leaders to get Results - Here’s the predicament: Who can handle the crisis management role? This is a predicament. Clear thinking must prevail and a special set of skills must be applied. If there is a qualified leader within the company, then delegate the job of turnaround to that person — and provide proper support. If there is not a qualified leader in the company — and there usually isn't — go outside to locate this type of professional.

FACTORING FOCUS

Harborcove Financial — Where Wall Street and Main Street Meet - Last September, two veteran equities traders were introduced to two factors, and serendipity ensued in the form of Harborcove Financial. In short order the four entrepreneurs embarked on a mission to bring the best of Wall Street together with Main Street and provide much-needed capital to small businesses. We decided to check in with two of the company’s principals — Harvey Gross and Russell Hackmann — for an update on what’s happened since.

BANKRUPTCY UPDATE

The Pendulum Swings Again: The Assault on Secured Creditors (Part 2 of 2) - In Part I of this two-part article appearing in the previous issue of ABF Journal, a leading restructuring attorney teamed up with a well-known turnaround professional to describe how recent court decisions may have seriously eroded secured creditors’ rights. In Part II below, the authors suggest strategies and tactics to help lenders protect themselves.

LEGAL EYES

FINALCUT 

FinalCut: Loan Market Buzzing Again, Article Says - ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.

 

If you have questions regarding ABF Journal content, call us at 800.708.9373 x128 or email jhoffman@abfjournal.com.