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In the Marketplace
Alter Moneta of Montreal has announced the appointment of two leasing and finance business development executives in western Canada in response to growing business opportunities generated by energy and construction-related projects. The appointments of Shawn Cardinell, of Burlington, Ontario, and Gary Goodman, of Edmonton, Alberta, are part of a strategic plan to grow the company following a recent financial investment from Bear Stearns Merchant Banking. The company's plan is to expand its geographic footprint and more than double its 110-employee workforce by 2012. A growing independent financial services company, Alter Moneta currently has key locations throughout Canada and the United States and is also backed by Caisse de depot et placement due Quebec, the largest institutional fund manager in Canada.
Cardinell will serve the company's vendor/dealer network for Ontario-western Canada. He was previously employed by Volvo Financial Services Canada. Goodman also will have responsibility for developing new business opportunities in Western Canada. After serving for two decades with the Royal Bank of Canada, he held senior account management positions with both GE Capital Solutions and CitiCapital Commercial Corporation in Edmonton.
Truck Repos increased in 2006. Nassau Asset Management of Westbury, NY has released its NasTrac Quarterly Index ('NQI'), showing that repossessions and liquidations of tractor-trailer trucks rose nearly 8% in 2006 compared with 2005. This rise in repossessions likely indicates another challenging year is ahead for small-to-mid-sized trucking businesses. In fact, Nassau President, Edward Castagna, stated that 'truck repossessions and liquidations have been on an upward trend for seven of the past eight quarters, and current conditions indicate this trend will continue.' He cites the instability of fuel prices and the drop in new home construction as possible causes. In addition, there are general economic factors to consider. 'Problems with the sub-prime mortgage industry, for example, are making it harder for struggling businesses everywhere to squeeze equity from their real estate.' The upside, according to Castagna, is that there is a steady market for used trucks. This market should remain strong in the short term due in part to the fact that the new 2007 trucks meeting new EPA diesel engine regulations have engines that are unproven, cost more to maintain, and are being avoided by buyers for as long as possible.
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.