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In the Marketplace
GE of Fairfield, CT has agreed to sell its GE Capital, Transportation Finance business in the U.S. and Canada to BMO Financial Group (BMO). GE Capital, Transportation Finance provides wholesale and commercial end-user financing to OEMs, dealers and end users for heavy and medium duty commercial trucks and trailers. BMO will retain the Transportation Finance management team and employees. This sale is part of an announced strategy by GE to create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its industrial businesses. GE will retain the financing businesses that relate directly to GE's industrial businesses.
The FASB and IASB have announced the availability of new lease capitalization calculators. The two boards have created two new worksheets to calculate the estimated impact of applying the proposed new lease accounting rules for lessees. One is an FASB version and the other is an IASB version. These revised worksheets reflect the FASB's decision to use a two-lease model. The FASB worksheet is available at http://tinyurl.com/nntf4ml and the IASB worksheet is available at http://tinyurl.com/nn3f4x5.
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.