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In the Marketplace
GE of Fairfield, CT has agreed to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). GE Capital, Transportation Finance provides wholesale and commercial end-user financing to OEMs, dealers and end users for heavy and medium duty commercial trucks and trailers. BMO will retain the Transportation Finance management team and employees. This sale is part of an announced strategy by GE to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its industrial businesses. GE will retain the financing businesses that relate directly to GE's industrial businesses.
The FASB and IASB have announced the availability of new lease capitalization calculators. The two boards have created two new worksheets to calculate the estimated impact of applying the proposed new lease accounting rules for lessees. One is an FASB version and the other is an IASB version. These revised worksheets reflect the FASB's decision to use a two-lease model. The FASB worksheet is available at http://tinyurl.com/nntf4ml and the IASB worksheet is available at http://tinyurl.com/nn3f4x5.
FASB Chair Russell G. Golden has announced the appointments of Paul A. Beswick and Robert B. Malhotra to the FASB's Emerging Issues Task Force (EITF). Beswick is a partner within Ernst & Young LLP's assurance services practice, where he is involved in accounting and regulatory matters, audit quality initiatives, interactions with standard setters, and process improvement initiatives. Prior to joining Ernst & Young LLP, he served as the chief accountant for the SEC. He will serve a five-year, renewable term beginning Nov. 12, 2015, replacing Jackson Day of Ernst & Young LLP. Malhotra is co-partner in charge of KPMG LLP's Practice Advisory & SEC Group in its Department of Professional Practice, which is responsible for providing accounting, financial reporting and SEC practice support. He will serve a five-year, renewable term that began Sept. 17, 2015, replacing Mark Bielstein of KPMG LLP.
The Volvo Group has announced that August 2015 truck deliveries rose by 28% in Europe and by 13% in North America. On the other hand, deliveries decreased by 43% in South America and by 8% in Asia. In total the Volvo Group's wholly owned operations delivered 12,116 trucks, which was 3% more than in August 2014.
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GE of Fairfield, CT has agreed to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). GE Capital, Transportation Finance provides wholesale and commercial end-user financing to OEMs, dealers and end users for heavy and medium duty commercial trucks and trailers. BMO will retain the Transportation Finance management team and employees. This sale is part of an announced strategy by GE to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its industrial businesses. GE will retain the financing businesses that relate directly to GE's industrial businesses.
The FASB and IASB have announced the availability of new lease capitalization calculators. The two boards have created two new worksheets to calculate the estimated impact of applying the proposed new lease accounting rules for lessees. One is an FASB version and the other is an IASB version. These revised worksheets reflect the FASB's decision to use a two-lease model. The FASB worksheet is available at http://tinyurl.com/nntf4ml and the IASB worksheet is available at http://tinyurl.com/nn3f4x5.
FASB Chair Russell G. Golden has announced the appointments of Paul A. Beswick and Robert B. Malhotra to the FASB's Emerging Issues Task Force (EITF). Beswick is a partner within
The Volvo Group has announced that August 2015 truck deliveries rose by 28% in Europe and by 13% in North America. On the other hand, deliveries decreased by 43% in South America and by 8% in Asia. In total the Volvo Group's wholly owned operations delivered 12,116 trucks, which was 3% more than in August 2014.
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'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.
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.
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.