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In The Marketplace
Nassau Asset Management of Roslyn Heights, NY, has issued its NasTrac Quarterly Index (NQI), which indicates that repossessions of tractor-trailer trucks declined 70% in the third quarter (Q3) compared with the same time frame in 2003. In addition, repossessions of machine tools, a closely watched barometer of economic activity, dropped 72% in Q3, a finding that correlates with other indicators within the manufacturing industry. The report further showed:
- Repossessions of medical devices in Q3 declined nominally by 15%;
- Repossessions of printing presses were up 88% compared with Q3 2003, which may be partly due to consolidation taking place within the industry; and
- Repossessions of construction equipment increased by 57% compared with Q3 2003, the first time in 2004 that construction repos have risen compared with 2003. When comparing each of the three quarters to date in 2004, in fact, construction repos have actually declined or flattened.
The current NQI reports on the top five repossessed capital assets in Q3 2004, which include trucks/trailers, printing presses, medical devices, machine tools and construction equipment, according to Nassau's internal records on liquidations.
Siemens Financial Services, Inc. (SFS) of Iselin, NJ, has announced that it has expanded its lending capabilities in the areas of leasing and asset-based lending. SFS will expand its existing mid- to large-ticket equipment financing and asset-based lending facilities to customers throughout North America. In addition, SFS will expand its presence abroad by providing international financing and long-term forfeiting capabilities to customers across the European Union. SFS will expand into the global marketplace through a new suite of lending, leasing and long-term trade finance capabilities. The new offerings will be part of the company's Commercial Business Finance group, formerly called Capital Markets, and SFS in the US will hold global responsibilities for these new offerings. SFS also plans to significantly increase the size of its sales force supporting these new products. The company is also seeking loan and leasing portfolios to further expand its global presence.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.