Category: Published Articles

Hitachi Capital America Sharpens Its Focus on New Markets

In October, Hitachi Capital America established Hitachi Capital Canada. Before 2012 came to a close, the company acquired Hennessey Capital. In early 2013, Hitachi announced that Hennessey would offer equipment financing. ABFJ catches up with William H. Besgen, president and COO of Hitachi Capital America, Thomas Cross, general manager of Hitachi Capital’s Trade Finance Division, and Michael Semanco, president and COO of the Hennessey Capital Division, to learn more about these strategic moves.

Another Conflict in the Circuits Brewing Over Bankruptcy Court’s Equitable Powers Under §105(a)

The First Circuit’s decision in Malley v. Agin highlights an ongoing conflict among the federal circuit courts regarding the scope, nature and extent of the bankruptcy court’s equitable powers under §105(a) of the Bankruptcy Code. While the issue cries out for a definitive ruling by the U.S. Supreme Court, it is uncertain when and if one of these cases will reach the high court because the dollar amounts involved are often modest, as this case illustrates.

Asset-Based Lending: The Good, The Bad & The Ugly

In analyzing the asset-based lending market at the dawn of a new year, David Gaito, SVP and regional sales manager of PNC Business Credit, notes three significant factors: 2012 was not as bad as advertised, a supply/demand imbalance remains and ABL potential in 2013 is mixed. Prudence, he notes, will be key to short- and long-term success.

Commercial Lending: Low Interest Rates Tarnish Positive Deal Flow

RMP Capital’s James DiCamillo notes that 2012 was characterized by historically low interest rates that made earning a profit somewhat challenging. Looking ahead, DiCamillo says banks have continued their retreat in the small business sector, even though many enterprises that would be candidates for financing pose only a fair level of risk. As a result, more business owners in this category appear to be discovering commercial finance as a serious option.

TD Economics Forecast: Fiscal Austerity Will Slow Economic Growth in the Years Ahead

TD Economics said in its latest quarterly economic forecast that economic growth over the last year has been modest, but healing has continued as the housing market has become a tailwind rather than a headwind. The worst of the deleveraging cycle and its dampening effect on economic growth appears to be over, TD says, but, just as the U.S. economy appears set for take-off, one obstacle remains.