Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
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.
How Secure Is the AI System Your Law Firm Is Using?
In a profession where confidentiality is paramount, failing to address AI security concerns could have disastrous consequences. It is vital that law firms and those in related industries ask the right questions about AI security to protect their clients and their reputation.
COVID-19 and Lease Negotiations: Early Termination Provisions
During the COVID-19 pandemic, some tenants were able to negotiate termination agreements with their landlords. But even though a landlord may agree to terminate a lease to regain control of a defaulting tenant's space without costly and lengthy litigation, typically a defaulting tenant that otherwise has no contractual right to terminate its lease will be in a much weaker bargaining position with respect to the conditions for termination.
Pleading Importation: ITC Decisions Highlight Need for Adequate Evidentiary Support
The International Trade Commission is empowered to block the importation into the United States of products that infringe U.S. intellectual property rights, In the past, the ITC generally instituted investigations without questioning the importation allegations in the complaint, however in several recent cases, the ITC declined to institute an investigation as to certain proposed respondents due to inadequate pleading of importation.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.
Authentic Communications Today Increase Success for Value-Driven Clients
As the relationship between in-house and outside counsel continues to evolve, lawyers must continue to foster a client-first mindset, offer business-focused solutions, and embrace technology that helps deliver work faster and more efficiently.