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In the Marketplace
State Bank of Long Island, NY, has signed an agreement with Main Street Bank of Kingwood, TX, for the sale of substantially all of the assets of State Bank's leasing subsidiary, Studebaker-Worthington Leasing Corp. Studebaker will operate as a division of Main Street Bank and continue its national equipment leasing business from its present office in Jericho, NY. Studebaker's senior management, including Kenneth Paston, its Chief Executive Officer, will continue with the company. The sale is scheduled to close in the second quarter of 2008. State Bancorp, Inc. is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered on Long Island.
Aquiline Capital Partners of New York announced that Laird M. Boulden has joined the firm as a senior adviser. Boulden, a long-time member of the commercial finance industry, served most recently as president and Chief Executive Officer of RBS Asset Finance, a subsidiary of Citizens Financial Group. Prior to joining RBS Asset Finance, Boulden was founder and president of RBS Lombard, where he was responsible for the consolidation and integration of the U.S.-based RBS equipment finance businesses within Citizens Financial Group. At Aquiline, a private equity firm investing in financial services, Boulden will be responsible assisting in the evaluation of future opportunities in the commercial and specialty finance sectors.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.