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In The Marketplace
Nassau Asset Management of Roslyn Heights, NY has released its NasTrac Quarterly Index (NQI), which shows that repossessions of construction equipment dropped by 53% during the four quarters of 2004. In addition, when all four quarters of 2004 are compared with 2003, the report shows the annual volume of construction repossessions was down 6%.
Ed Castagna, senior executive vice president of Nassau, notes that these figures correlate with CIT Equipment Finance's 2005 Construction Industry Forecast that surveys U.S. construction executives. CIT's survey recently reported that contractors plan to double their spending on new equipment this year. Likewise, 54% of equipment distributors expect to sell more new equipment this year than they did in 2004.
On the negative side, the NQI also showed that despite an overall drop in the volume of construction equipment repossessions in 2004, the value of repossessed construction equipment actually rose during the fourth quarter. Castagna reported that more cranes and top-dollar equipment went on the block in the fourth quarter, as did equipment seized from smaller industry players squeezed out of business by larger companies. The result was a 131% increase in the value of construction equipment Nassau repossessed in the fourth Quarter 2004 compared with fourth Quarter 2003.
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.
The Stranger to the Deed Rule
In 1987, a unanimous Court of Appeals reaffirmed the vitality of the "stranger to the deed" rule, which holds that if a grantor executes a deed to a grantee purporting to create an easement in a third party, the easement is invalid. Daniello v. Wagner, decided by the Second Department on November 29th, makes it clear that not all grantors (or their lawyers) have received the Court of Appeals' message, suggesting that the rule needs re-examination.