Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
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.
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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
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.