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In the Marketplace
Fleet Advantage, a Fort Lauderdale, FL-based company focused on truck fleet business analytics, equipment financing and lifecycle cost management, recently performed an analysis showing the operating and financial benefits of a lease versus ownership structure for private truck fleet operators, as well as for-hire carriers. The analysis compares a seven-year ownership of one truck to a four-year ownership and a four-year lease of two consecutive trucks. It shows that while there is a slightly higher investment level in lease payments over the seven-year period, that investment is overshadowed by much larger financial losses on the four-year and seven-year ownership in areas such as fuel expenditures, maintenance and repair, tires, and financial losses resulting from disposal of the financed trucks. The study found that a four-year lease model would save approximately $27,893 per truck in comparison to the seven-year ownership model. The lease model even proves to be beneficial when compared with the four-year ownership model, showing savings of $12,710.
CIT has expanded its commercial aircraft lending business with the addition of a new Aviation Lending team providing aircraft-backed loans to the commercial aviation industry. Jennifer Villa Tennity rejoins CIT as president of the business. She reports to CIT's president of Commercial Finance, Jim Hudak, who assumed the aerospace lending vertical with the sale of the commercial air operating lease business. Villa Tennity is joined by Ryan Jasinski as director of originations and Matthew Hughey as vice president, both former CIT colleagues who specialize in aviation lending.
In a separate announcement, CIT also named two key appointments to its Equipment Finance division in support of industrial market segment growth. Mike Edwards has joined the Business Development team and will be responsible for new finance programs with manufacturers in the construction, agriculture, material handling, and transportation segments. In addition, Jennifer Houck has been hired to originate and manage dealer and distributor relationships in the Western territory. Edwards joins CIT from EverBank Commercial Finance, where he worked as a business development manager. Houck joins CIT from Xtreme Financial Services, where she served as the executive finance manager.
The Alta Group is featuring a new weekly podcast series produced and hosted by one of its directors, Jonathan L. Fales. The podcasts will feature movers and shakers inside the global equipment leasing and finance industry, and others relevant to the ways it is evolving. It is the first series of this type focused on the equipment financing market, says the company. The podcasts will be between 20-30 minutes in length and can be heard through Apple Podcasts, Google Play, Stitcher, and TuneIn. Access them at www.thealtagroup.com/blog.
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.