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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.
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.
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.
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.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?