2007 March/April Issue

MARCH/APRIL 2007
Following the Money…
2007 Funding Source Issue

SPECIAL SECTION

Working Together… Brokers & Funders ‘Sew Up’ the Deal
In this special section, we are pleased to present our readers with the most coverage the Monitor has ever dedicated to the significant roles funding sources and brokers play in the equipment leasing industry. For starters, we’ve assembled an impressive group of brokers and funders alike to offer their views on 2007, and to comment on what makes for successful broker/funder relationships. And there’s much more. For the whole nine yards, turn to page 27.

Securing Relationships on Shared Successes: Funding Sources get Down to ‘Brass Tacks’
By Christopher Moraff, Associate Editor
Though it’s difficult to predict exactly what course the economy will take, one way is to follow the money. Each year, the Monitor asks leading funding sources to offer their take on the past year, as well as what the next 12 months promise. This year is no exception. (Ref # BRK023, FNF112)

A Lender’s Lender… Managing a Balancing Act Gracefully
By Christopher Moraff, Associate Editor
How does a lender to equipment leasing lenders view the industry? The Monitor spent some time with Andrea Petro, division head at Wells Fargo Foothill’s Lender Finance group. We liked what we heard. (Ref # FNF113)

Smart Execution, Good Customer Relationships… Keeping Enterprise Funding Ahead of the Curve
Good business ideas need good execution, and that often happens when people come together from disparate places. Such is the case for Grand Rapids, MI-based Enterprise Funding Group. (Ref # FNF114)

Some Common Threads… Leasing Brokers ‘Size Up’ Their Industry for 2007
By Amanda Gutshall, Assistant Editor
How do you sew up an equipment leasing deal? Our panel of leasing brokers say: Know your funders, know your customers and above all — let them know you. (Ref # BRK024)

Is There a Vendor Market Left for Independent Brokers?
By Gerry Egan, TecSource, Inc.
Gerry Egan provides us with some solid arguments along with the payoff for brokers who think outside the box when working in the vendor market. (Ref # BRK025)

Maintaining Trust in Relationships is a Win-Win for all
By Joseph G. Bonanno, Esq.
Preserving the confidence of the parties in leasing transactions will make you a trusted confidant. Because you have earned their trust, they will try to do business with you again. (Ref # BRK026)

UAEL: A Rich Heritage, a Promising Future
As president of 2007’s UAEL board of directors, Brad Peterson provides an overview of the association, as well as some colorful testimonials from past officers, to give us a sense of where the UAEL came from and where it’s headed. (Ref # ASC014)

NAELB: ‘Tuning Up’ for The Sweet Sound of Success With Record Attendance
Robert Otterbacher, NAELB’s current president, discusses the state of the association, its history, ethics, education efforts, and what he sees in the future for equipment leasing brokers. (Ref # ASC015)

EAEL: Looking to the Next Generation for New Focus & Ideas
Now in its 28th year, the EAEL is striving to meet the challenges of its members, both old and new, while taking a heightened interest in the association. Nancy Pistorio tells us what’s in store for the year’s conferences and meetings, and a whole lot more. (Ref # ASC016)

CLP Designation: A Commitment to Excellence
In the 23 years since a small group of leasing professionals started the Certified Lease Professional designation, it has become the symbol of excellence for those who strive to be the best in the business. Cindy Spurdle chronicles the foundation’s history, mission and more. (Ref # ASC017)

FEATURES

Alter Moneta: Ten Best Practices for Human Capital Management
By Sue L. Carrington, Susan Carol Associates.
Known for its innovative people practices, Alter Moneta plans to expand its geographic footprint and more than double its workforce by 2012. In our lead story, company executives shed light on both their practices and strategies. (Ref # HUM017)

2007 CFO Outlook: Cautious Optimism Prevails
By Joyce White, Bank of America Business Capital
Six hundred CFOs were asked their opinions on the economy, financing, M&A activity and their involvement in foreign markets in Bank of America Business Capital’s ninth annual CFO Outlook. (Ref # GEN031)

Are ‘Alternatives’ Taking Over? A Fresh Look at Debt Leverage
By David D ’Antonio, Diversity Capital LLC
Participants in the specialized lending markets are talking about the growing dominance of hedge funds and other alternative sources of capital. Diversity Capital’s David D’Antonio reviews the common forms of debt leverage and how available these forms of capital are to the market. (Ref # STF003)

Using ‘Deal Winning Points’ to Propose Like a Pro
By Scott Kiley, Fifth Third Leasing Company
Fifth Third leasing’s Scott Kiley shares practical and realistic tips for every stage in the process of closing an equipment leasing transaction. This article concludes the series with the fourth point — preparing and offering proposals to prospects. (Ref # SAL139)

Debt or Equity? The Classification of Hybrid Securities Can Turn a Good Company Bad
By John E. Moose, Huron Consulting Group and Patrick M. Jones, Lord Bissell & Brook LLP
Issuances of hybrid securities are on the rise. This article reviews three cases, which may guide individuals charged with directing a company’s operations in determining whether hybrid securities should be treated as debt or equity. (Ref # LGL1086)

COLUMNS

ALTERNATE PERSPECTIVES
Your Career: Steps to Take When Things Come to a Standstill
By Gni Grossman, Molloy Associates
Obviously you want to make sure your career is progressing well. As with any living being — your career needs care and feeding too. The good news is it’s in your hands, and the first step is taking a long hard look at yourself. (Ref # PER015)

LEGAL WATCH
The Importance of Being Prompt…
By Lesley Anne Hawes, McKenna Long & Aldridge, LLP
The arrival of 2007 was not very happy for lenders. Recently the courts sent a clear message to creditors — don’t expect a sympathetic reception when you fail to protect your security interests through prompt perfection of your liens. (Ref # LGL1087)

DISPATCHES FROM THE TRENCHES
CMC may Place the Syndication Market in a State of Disarray
By Kenneth P. Weinberg, Marks & Weinberg, PC
This issue, Monitor columnist Ken Weinberg discusses the Commercial Money Center, Inc. case, and the court decision, which determined that payment intangibles are separate from the lease itself. The results of this case offer some recommendations funders may want to consider. (Ref # LGL1088)