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Captive Financing: The Economic Advantages ' A Detailed Financial Analysis
Captive finance has become a major contributor to the earnings of U.S. manufacturing companies. Per the CFO Magazine, March 2003 article titled What Goes Around, a Morgan Stanley study says that more than 28% of all revenue of S&P 500 companies comes from captive finance activities. This is understandable as, not only does captive finance add revenue to the consolidated results of the parent, there are several economic advantages available only to U.S. captive finance companies and not available to bank lessors or independent finance companies that vie for their business or compete against them. There is also the customer relations factor that is hard to measure and is always in jeopardy when using a third-party vendor finance company.
This article analyzes the financial impact of the economic advantages available to a captive finance company that leases the equipment it manufactures.
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.
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.
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.