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Textron Inc. of Providence, RI, has announced several finance management changes. Textron Financial Corporation (“TFC”) will now report directly to Textron President and Chief Operating Officer Scott C. Donnelly. TFC previously reported to Executive Vice President and Chief Financial Officer Ted R. French, who has left the company. French also had served as chairman and CEO of TFC. Textron's Senior Vice President and Controller Richard Yates has been named acting CFO until a permanent successor is named, which is expected in the near future. Warren R. Lyons has been named president and CEO of TFC and replaces Buell “Jay” Carter, president and chief operating officer of TFC, who is retiring after 19 years of service to the company. Lyons, most recently an independent financial services consultant, managed several segments of Textron's financial services units from 1985-1999. He was a member of the Textron Operating Committee and also served as the chairman and president of AVCO Financial Services, a major subsidiary of Textron that produced approximately 25% of Textron's revenues and profits at the time. When the decision was made to divest AVCO Financial Services in 1998, Lyons led the sales process resulting in a $2.9 billion after-tax gain to Textron.
The law firm of Goldberg Kohn in Chicago has named Jessica L. Debruin as a principal in the firm's Commercial Finance Group. She represents banks and other commercial lenders in documenting, negotiating, and performing due diligence
for asset-based and cash-flow loans. Additionally, DeBruin has worked on a wide range of credit facilities, private placement note offerings, securitizations, and leveraged leases on behalf of borrowers, issuers, lenders, equity investors, lessees, and lessors.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.