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12julaug

July/August 2012

Annual Products & Services Issue
Vol. 10 No. 5
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FEATURES

Structural Shifts — New Realities in Field Examinations - The challenges facing the field examination industry will create opportunities for some and potential failure to others. Opportunities will come for those that can adapt and maintain high standards for quality and communication while growing responsibly. Lender's Consulting Group’s Paul Epstein and John Dendrinos discuss the changes they’ve seen, what lies ahead and how to stay in pace with the structural shifts to avoid failure along the way.
Flexibility, Flexibility, Flexibility ABL, Factoring Software Must Be Tailored to Both Borrows & Lenders’ Needs - Opportunities are there for those with the tools and talent to seek them out. Even with the additional requirements placed on lenders by regulators and auditors both the factoring and asset-based lending industries have experienced growth in recent years. William Stucky & Associates’ Roseanne Doyle discusses the software requirements and flexibility needed to ensure success for both lenders and borrowers.
‘Order Up!’ Food Industry Assets ‘On the Menu’ for ABLs - The food industry is evolving in fascinating ways. From the rise of farmers markets and organic-only “foodies,” to the incessant attacks on sugar and trans fat, needs and preferences are changing all the time and winners and losers are bound to emerge. Appraisers, in particular, will have to make sure their analytics are as thorough and as up-to-date as possible.
Beyond Traditional Restructuring… Gavin/Solmonese Join Forces to Fulfill a Shared Vision - Last April, the commercial finance industry learned that the venerable turnaround firm of NHB Advisors had been acquired by a newly formed corporate consulting firm bearing the name Gavin/Solmonese. While acquisitions of turnaround firms either in whole or in part have made industry headlines regularly this year — indeed, Deloitte acquired CRG Partners and CVC Capital Partners took a majority stake in AlixPartners — this announcement was a bit unique.
Acquisition Prompts Expansion… With PrinSource, North Mill Enlarges Footprint, Adds Factoring Services to Offerings - What started as a business idea at the dawn of the economic crisis, North Mill Capital is now a formidable competitor in the small-ticket lending space thanks to its dedicated founding stakeholders and solid organic growth. Today, through its recent acquisition of PrinSource Capital, North Mill has expanded its footprint westward and added factoring services to its product offerings.

FROM ALL FACETS

TURNAROUND CORNER

What Washington Can Learn From the Five Stages of a Turnaround - Our political leaders need to learn how to turn a troubled economy around. A framework like the five stages of turnaround can help. The job is difficult, but possible. There are many lessons that have been proven in the private sector, which can be transferred to the public sector. Many new political leaders are showing the way; others should follow.

SPECIALTY LENDING SHOP

New Challenges (and Solutions) for Managing Working Capital By Nic Perkin - These days businesses reliant on bank financing may be faced with some major challenges when trying to refinance outstanding debt, finance working capital needs and pursue growth opportunities. This article looks at why some businesses are finding bank financing unattainable, and even undesirable, and why many are turning to alternative financing options.

LEGAL EYES

Quite to the Contrary … There is a Supreme Right to Credit Bid - In the April 2010 ABF Journal article, "In re Philadelphia Newspapers, LLC: The Not-So-Secured Right to Credit Bid," Jeffrey Wurst discussed the Third Circuit's decision that in a sale of assets under a plan of reorganization, a secured lender did not have the right to credit bid. Since then, the Seventh Circuit allowed the secured creditor to credit bid. The resulting U.S. Supreme Court decision in RadLAX held that a sale of assets under a plan cannot prevent a secured creditor from credit bidding.

FINALCUT 

FinalCut: JPMorgan Loses $2B on Risk Unit’s ‘Grievous Mistakes’ - In a conference call with investors, JPMorgan Chase CEO Jamie Dimon said the firm suffered a $2 billion trading loss after an "egregious" failure in a unit managing risks. ABF Journal illustrator Jerry Gonzalez offers his take on this "whale of a tale."

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