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In the Marketplace
Baker, Donelson, Bearman & Caldwell of Memphis, TN and Berkowitz, Lefkovits, Isom & Kushner of Birmingham, AL have announced a merger to form Baker, Donelson, Bearman, Caldwell & Berkowitz. The new firm has 334 attorneys and public policy advisors in nine offices in Memphis, Nashville, Knoxville, Chattanooga and Johnson City, TN; Jackson, MS; Birmingham, AL; Atlanta, and Washington, D.C. as well as a representative office in Beijing, China. The firm has more than 15 practice areas with particular strength and expertise in the areas of healthcare, real estate development, construction, mergers and acquisitions, banking and finance, public policy, equipment leasing, immigration, international trade, labor and employment, intellectual property, e-commerce and technology.
Merrill Lynch Capital Equipment Finance of Chicago has named John Settano as director of syndications. Having served in a number of leadership positions with U.S. Leasing, Settano has accumulated extensive transaction structuring, pricing, documentation, tax-leasing, credit underwriting, and product distribution experience. He will be providing national coverage for Equipment Finance's syndication efforts while based in San Francisco and will also work out of Merrill Lynch Capital's Chicago location. The Equipment Finance Group provides structured financing solutions to public and private corporations within the middle market. The group works directly with end users in a broad cross section of equipment types and industries.
Ruan Leasing of Des Moines, IA has announced that it will eliminate 100 jobs, or less than 3% of its workforce, over the next 3 weeks. The company cited weakness in the truck leasing business, rising insurance rates and a slow national economy. The company noted that value of used trucks has fallen by as much as 50% since truck manufacturers flooded the market with new trucks in the last 3 years and a large portion of a leasing company's business comes from selling used trucks after the lease expires. A Chicago-based consultant, Morris Anderson Ltd., has been hired to restructure the Ruan leasing business and help identify operations that can be closed. Although Ruan Leasing has more than 10,000 trucks under lease, the division has lost money in recent years.
Ruan Leasing of Des Moines, IA has announced that it will eliminate 100 jobs, or less than 3% of its workforce, over the next 3 weeks. The company cited weakness in the truck leasing business, rising insurance rates and a slow national economy. The company noted that value of used trucks has fallen by as much as 50% since truck manufacturers flooded the market with new trucks in the last 3 years and a large portion of a leasing company's business comes from selling used trucks after the lease expires. A Chicago-based consultant, Morris Anderson Ltd., has been hired to restructure the Ruan leasing business and help identify operations that can be closed. Although Ruan Leasing has more than 10,000 trucks under lease, the division has lost money in recent years.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.