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November/December 2008

Vol. 6 No. 10
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ABF Journal, November/December 2008
November/December 2008

Defensive Strategies…
ABLs Brace for More 
Troubled Times Ahead

As Shoppers Feel the Heat, Shake-Ups Loom for ABLs
By Stevan Buxbaum, Buxbaum Group

Changing habits of U.S. consumers have been evidenced in their gradual transformation from sometime shoppers to voracious buying machines. ABLs have tracked with the changes, but what’s next as the consumers pull back? (Ref # xxxxxx)

Never Having to Say You’re ‘SARE’
By Patrick M. Jones and Timothy S. McFadden, Locke Lord Bissell & Liddell

In 1994, Congress recognized the inequity of permitting developers to use the bankruptcy process to gain leverage against lenders by adding special provisions to the Bankruptcy Code applicable to “single asset real estate” (SARE) bankruptcy cases. Pat Jones and Tim McFadden explain how effective deployment of these provisions can move mountains. (Ref # xxxxxx)

Do You Have the Right Moves?
By J. Nicholas, Industry Consultant

Since the value of collateral can fluctuate with economic conditions, underwriters may need to structure loans with the assumption that a company may experience deterioration in its operations. Do your underwriters have the right moves to react to downside scenarios? (Ref # xxxxxx)

Clear Channel Merger Finally Comes to a Close
By Christopher Moraff, Associate Editor

Following a months-long legal battle that pit equity sponsors against lenders, the merger of Clear Channel Communications and two private equity firms finally closed this summer. What caused all the static? (Ref # xxxxxx)

Retail Real Estate — Scary in the Short-Term
By Spence Mehl, RCS Real Estate Advisors and Edmund Terry, Crystal Capital

While the subprime mortgage crisis may have been the first rock to start sliding, the avalanche of bad news is the result of a number of complex structural concerns that have radiated out to every corner of the economy. Retail real estate has been no exception … but all is not lost. (Ref # xxxxx)

Profile of Success

Once Again, Sharkey Starts From Scratch
By Amanda L. Gutshall, Associate Editor

After more than two decades of building two startups to their full potential, Michael D. Sharkey has started over again — this time as executive vice president of Cole Taylor Bank’s ABL unit. (Ref # xxxxxx)

Special Series: Private Equity

Understanding ‘A Player’ Financial Team Attributes
By Thomas Bonney, CMF Associates

Lenders that take extra care to ensure “A Players” are cast in the roles of CFO and controllers at borrower organizations will gain valuable human capital-based “collateral,” which strengthens the lender/borrower partnerships and improves portfolio performance. (Ref # xxxxxx)


Trucking Industry at a Crossroads
By Mike Grau, Focus Management Group

The distress in the trucking industry has the potential to increase the cost of nearly every product out there. But opportunities exist for those that develop roadmaps for success. (Ref # xxxxxx)

Why Bankruptcy Practitioners Should Care About E-Discovery
By Chuck Bobinis, Bernstein Law Firm

The reality of bankruptcy practice is often likened to the emergency room of a busy urban hospital. Sometimes the patient is wheeled in, barely clinging to life and resuscitation may not be in the cards… (Ref # xxxxxx)

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