editor’s comment
LeasingWorld 03.11 A
EDITORIAL
messy kind of month, was February, more details of the convoluted machinations embedded somewhere in the Total Asset Finance/Fibrecity/KBC Lease UK refinancing came out, apparently it was all down to problems digging holes in the road for broadband in Bournemouth (see Page 13). St Helen’s Finance, the Plus-quoted lessor, announced it would no longer remain on the Plus market, as it was too expensive: no new business was being done, or could even be seen on the horizon. As this decision was the result of a strategic review, involving a number of experts recently attracted to their Board, the assessment must be a pretty accurate one (see City News Page 19).
A messy month
AssetCo (remember them?) is unexpectedly looking round for equity and refinancing, after a bidder for the company dropped out recently. Davenham continues to try to swat away ongoing attempts to unseat its board.
When you turn on the news it’s all about upheavals in the Middle East
Jan Szmigin Editor
T: +44 (0)1905 621444 F: +44 (0)1905 621444 E:
editor@leasingworld.co.uk
Allan Foad Contributing Editor E:
allan.foad@
leasingworld.co.uk
– what’s that got to do with leasing, you may ask. Well, the World Leasing Convention, this year, due to be held in Cairo, is in an awkward spot now; Bank of London and the Middle East announced it was to open in Bahrain and three days later riots erupted there; EgyptAir is looking to lease out 25 of its passenger jets standing idle since the tourists disappeared; HP Financial and Leaseplan were predicting high growth for their Middle Eastern investments this year which possibly will have to go on hold now, even Leasing World’s Egyptian contact is not answering emails because there’s no internet. Lease accounting? Well, just read our lead story to get an idea of the mixed feelings which that one is still generating. How much has it cost our industry so far, I wonder, all that time, and money, grappling with the thoughts of a fudge of accountants, and how much more is it going to cost us in the future? It’s enough to make you feel like looking for another job, and that’s where our Recruitment Special Report could help you? Read what the top recruiters are saying, spruce up that CV, perfect your technique with Robinson Tom’s 37-point checklist, and consider applying to Bluestone Leasing who pride themselves in giving a great education and training programme. Finally, is there life after leasing? Read Geoff Kontzle’s article on Page 40 to find out. ■
JAN SZMIGIN
EDITOR@LEASINGWORLD.CO.UK
David Winders Contributing Editor
E:
David.winders@leasingworld.co.uk
March 2011 ■
www.leasingworld.co.uk
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