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Equipment Leasing in 2012
State and local governments in the United States have had a tough slog for the last five years. In December, The Washington Post cited a survey conducted by the National League of Cities that observed, “The fiscal condition of cities continues to weaken. Cities are continuing to cut personnel, infrastructure investments and key services.” See www.washingtonpost.com/business/economy/falling-home-values-mean-budget-crunches-for-cities/2011/12/14/gIQAwWmtHP_story.html. Even in boom times, these entities have uncertain revenue streams that can make long-range planning difficult. Property tax rates vary under inconsistent political priorities, and mandated expenditures from the state capitol snowball into unsupported burdens at the local level. At any point in the cycle, successful equipment leasing thrives on establishing relationships with well-managed municipal entities. Budget uncertainty and November's major election loom over the market's outlook for the coming year. The current, challenging state of municipal finance in many areas of the country only reinforces the importance of discerning the right transactions to bid for and which partnerships to engage.
As we enter 2012, the hyper-competitive nature of municipal lease financing, paired with borrowers' significant financial challenges, demands creative thinking and savvy leadership from lenders as well as borrowers. The current environment's significant macroeconomic concerns exacerbate traditional budgetary strains. In many communities, property values continue to stagnate and local tax assessments are beginning to follow these lower values. Anticipated revenues in the coming years are adjusted lower, furthering the budgetary stress. Additionally, municipal leadership varies among entities as the tension of long-range planning and fiscal responsibility is balanced against short-term needs and political expedience. There is an important, and oftentimes overlooked, role for lenders in easing municipal clients' uncertainty through strategic financial planning to the extent possible. Mapping payments and projects' efficacy for the long-term is typically advisable, regardless of the revenue cycle and macroeconomic climate.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.