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In the Marketplace
Textron Inc. of Providence, RI, has announced several finance management changes. Textron Financial Corporation (“TFC”) will now report directly to Textron President and Chief Operating Officer Scott C. Donnelly. TFC previously reported to Executive Vice President and Chief Financial Officer Ted R. French, who has left the company. French also had served as chairman and CEO of TFC. Textron's Senior Vice President and Controller Richard Yates has been named acting CFO until a permanent successor is named, which is expected in the near future. Warren R. Lyons has been named president and CEO of TFC and replaces Buell “Jay” Carter, president and chief operating officer of TFC, who is retiring after 19 years of service to the company. Lyons, most recently an independent financial services consultant, managed several segments of Textron's financial services units from 1985-1999. He was a member of the Textron Operating Committee and also served as the chairman and president of AVCO Financial Services, a major subsidiary of Textron that produced approximately 25% of Textron's revenues and profits at the time. When the decision was made to divest AVCO Financial Services in 1998, Lyons led the sales process resulting in a $2.9 billion after-tax gain to Textron.
The law firm of Goldberg Kohn in Chicago has named Jessica L. Debruin as a principal in the firm's Commercial Finance Group. She represents banks and other commercial lenders in documenting, negotiating, and performing due diligence
for asset-based and cash-flow loans. Additionally, DeBruin has worked on a wide range of credit facilities, private placement note offerings, securitizations, and leveraged leases on behalf of borrowers, issuers, lenders, equity investors, lessees, and lessors.
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.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
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.
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.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.