Reaping Rewards in the Middle... CitiCapital & the
Citi Commercial Business Group Target Small to Mid-Sized Businesses
By Lisa Whitestone, Vice President-Communications, CitiCapital
In the recent history of CitiCapital, two themes have been recurrent: growth and evolution of the business strategy. The year 2003 marked the formation of the Commercial Business Group, combining CitiCapital with Citibank’s Commercial Markets Group. The intention was to establish a single unit focused on the needs of small to medium-sized enterprises to facilitate the efficient delivery of a full slate of business solutions.

Off-Balance Sheet Leasing: Is the End in Sight?
By David G. Mayer, Partner, Patton Boggs LLP
The media’s negative comments about leasing peaked in September of this year with a controversial article published on the front page of The Wall Street Journal. The writer described off-balance sheet leasing as playing a “shadowy role” in the Enron debacle. But is the end in sight? For the moment, off-balance sheet leasing is alive and is far from ending or even being substantially altered by FASB. It may be that, in the future, leases appear more prominently on balance sheets.

ePlus Creates Unique Niche As Process-Based Solutions Provider
By Susan Carol, President, Susan Carol Associates Public Relations
Herndon, VA-based ePlus has developed a nontraditional business model — and this solutions provider is creating some serious competition for traditional lessors. ePlus serves the commercial, federal or municipal markets with financing solutions, which include a sophisticated chain of software and technology features — all of which are linked to reduce costs across an entire enterprise.

Integrity & Unselfishness... Imperative Traits for Developing True Leadership
By Jay Holmes, Managing Director, Overlord School of Leadership
From Napoleon Bonaparte to Harry Truman, leaders throughout the ages have had a great deal to say on the topic of leadership. And certainly, in the commercial finance industry, we’ve seen managers who are persuasive, make decisions, display optimism and initiative, but are they real leaders? The following article explores the importance of integrity and unselfishness as two imperative traits in developing leadership in oneself and others.

2005 CFO Outlook: Bullish On Economy, Less Optimistic About Manufacturing Sector
By Jeffrey Wilson, Senior Vice President-Marketing/Sales Support,
Bank of America Business Credit
While chief financial officers of U.S. manufacturing companies are optimistic that the economy will continue to expand over the next year, their outlook for the U.S. manufacturing sector is less upbeat. So says the seventh annual “Survey of Manufacturing Company CFOs,” commissioned by Bank of America Business Capital.

Living with Goliath: Strategies for Competing with the “Big Guys”
By Rob Allanson, President, Huntington Equipment Finance
For as night follows day, one thing is certain — consolidations in the leasing industry will continue. However, entrepreneurial, well managed smaller and mid-sized lessors can position themselves to compete effectively — even with the "big guys."

Re-thinking a Paradigm... Turn Your Law Department into a Profit Center (Part I)
By Richard M. Contino, Esq., Managing Partner, Contino+Partners
In this, the first part of a two-part series, equipment leasing attorney Richard Contino examines traditional attitudes and perceptions on the part of company lawyers, which could get in the way of business success. Part II will appear in the next issue of the Monitor and will speak to the merits of auditing legal departments to develop peak operating efficiency strategies.

Fraud Prevention: Thinking Like a Thief
By Constance L. Ochs, Director, RSM McGladrey
Preventing fraud requires companies to acknowledge that it exists and to gain an understanding of the symptoms and schemes — in other words, thinking like a thief. In addition, organizations must build a culture of high ethical standards and implement and follow proper procedures and controls.

COLUMNS


PROFILE OF SUCCESS
Delivering “One CIT” Through a Vertical Industry Strategy
A Profile of Rick Wolfert, Vice Chairman, CIT Group/Commercial Finance
When Rick Wolfert was presented with the chance to assume the roleof vice chairman for CIT’s Commercial Finance division, he recognized it as a unique opportunity to join CIT at an exciting time in its history. In the following profile, Rick enthusiastically shares the possibilities for CIT’s future growth and his vision for taking the nearly 100-year old finance company to the next level.

ALTERNATE PERSPECTIVES
Finding Your Way... When the Economic Compass Points in Many Directions
By Michael A. Toglia, Senior Vice President, Molloy Associates
Overall, things are starting to get better from a hiring perspectivein the equipment finance and leasing industry despite the fact that the economic indicators point both north and south. The hiring process remains dynamic and both hiring managers and candidates must be cognizant of the changes in employment market conditions in order to achieve success and reach their respective goals.

LEGAL WATCH
Bankruptcy Sales “Free & Clear” But What About Third-Party Ownership Interests?
By Lesley Anne Hawes, Partner, Frandzel Robins Bloom & Csato
Consider this: An equipment lessor holds title to the leased equipment but the debtor contends the lease is a security devise and that the debtor instead is the beneficial owner of the equipment. A recent decision by the Ninth Circuit may support the equipment lessor’s challenge to any attempt by the debtor to sell or dispose of the equipment until the true lease versus security interest determination is made.