November 2006
SPECIALTY LENDERS:
Providing a Variety of Flavorful Financing Options
Construction Financing: The Risks and Opportunities for Factors
By Howard Chernin, Quantum Corporate Funding, Ltd.
For the commercial lender, the strength of the construction industry represents a tremendous opportunity. At the same time, traditional lenders are reluctant to finance construction companies. As a result, contractors and subcontractors are looking for out-of-the-box lenders like factors to keep projects going. (Ref # FAC057)
Lenders! Take Inventory on How to Utilize Your Business Advantages
By Richard Eitelberg, Hartsko Financial
Purchase order financing is a growing field, due to the pragmatic nature of the service as well as the win-win-win benefits that it enables lenders, factors and clients. With reverse factoring abilities, banks can increase their operations without increasing their risk. (Ref # FAC056)
Top Line Turnaround:
Three Keys to Making a Revenue-Based Turnaround a Success
By Sam Hill, FTI Helios and Gregory Rayburn FTI Palladium Partners
The rapidly changing buy-out market has brought about a revolution in turnarounds from improvements to top line scenarios. FTI’s Sam Hill and Gregory Rayburn discuss the changes, and suggest three tips for a successful revenue-based turnaround. (Ref # TM033)
Special Series: Secured Lending in Europe
Everything you Need to Know About Secured Lending in the UK
By Neil James, CMS Cameron McKenna
Neil James of CMS Cameron McKenna introduces a new ABF Journal series on European secured lending. In this article, he answers questions regarding key issues lenders and other deal-doers need to know when providing guidance and financing in the UK. (Ref # INTL031)
Expanding the Limits — Extreme Inventory
Financing for Fast Growing Businesses
By Todd Kesselman, Inventory Capital Group
With the Chinese economic boom and the speed of communication in the supply chain, there will be a real need for more aggressive inventory financing in the future. But how do we get there?
(Ref # LSP025)
The Future of Asset-Based Lending:
Is Double-Digit Growth Still in the Cards?
By Joe Moss, GE Healthcare Financial Services
In 2005, the ABL industry grew by 16% — which translates to a record $420 billion in terms of asset-based loans outstanding — according to the CFA. This milestone also marks the first time the industry has experienced double-digit growth since 2000. But can we sustain it? (Ref # IND084)
Columns
TURNAROUND CORNER
Recover & Preserve Value:
Working Successfully With Turnaround Professionals
By John M. Collard, Strategic Management Partners, Inc.
In Part One of this article on working with the turnaround professional, Strategic Management Partner’s John Collard discusses when a specialist is needed, how to diagnose company trouble, and how to hire and select a turnaround specialist. Part Two of this article will appear in ABF Journal’s December issue. (Ref # TM061)
LEGAL EYES
Airline Focus: Using Section 1113 to Navigate Stormy Skies
By Mark G. Douglas, Jones Day
The continuing financial malaise of U.S. air carriers has featured prominently in recent headlines as airlines sought Chapter 11 protection to manage a staggering confluence of nearly five years of lagging demand, high fuel prices and escalating labor costs. Mark Douglas takes to the skies and discusses the court’s use of §1113 in recent airline bankruptcy cases. (Ref # LGL063)
PROFILE OF SUCCESS
Off and Running… A ‘Positive Energy’
Approach Pays off for CIT Commercial Credit
By Amanda Gutshall, Assistant Editor
Steve Leavenworth isn’t one for regrets. And as senior vice president of CIT’s Commercial Credit, he’s bringing that philosophy into the workplace. “If we tell a prospect we’ll have a deal done, we will.” (Ref # COMP018)