All articles by Fred Crawley
Fred Crawley
Editor’s letter: Sustaining momentum
Is there a basic incompatibility between an economic model based on perpetual growth and a social model founded on sustainability? Its certainly far too big a question to tackle in its entirety on page four of Leasing Life While I am as guilty as any journalist of occasionally bluffing my way through highly technical discussions, I would not pretend to be well-informed enough to present a definitive answer.
Lombard speaks out at EEF conference
While restricted access to finance is a fading concern for UK manufacturers, reluctance by businesses to invest in new equipment, plus a lack of appropriate financial support from the government, is a growing worry for producers of goods. Alexander Baldock, managing director of asset finance giant and headline sponsor Lombard, took to the stage at the event to make the case for asset finance and engage other speakers in debate over the part it has to play in the future of UK manufacturing.
Editor’s letter: Supply and demand
Listening to the talk from delegates at this years EEF manufacturing conference (see opposite), I was struck by a real sense that a balance has been tipped in the perennial struggle to drive growth in the SME sector. Strikingly, it seemed the big issue in business finance- at least from the point of view of the manufacturing sector was no longer access to finance, but whether businesses wanted it in the first place.
Coming to a Close
Its CEO and co-founder, Roger Stone, retired on March 31st, passing the reins to colleague of 18 years Mike Randall. Stone, 64, feels he is leaving at the top of his companys performance.
More than the sum of its parts
Fred Crawley discovers how recessionary change turned Shire Leasing into a more complex business One criticism that is often levelled at leasing companies especially large ones is that they have too much inertia They are too slow, perhaps, too inflexible and too cautious to innovate.
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Asset finance in focus at manufacturing conference
This was a conclusion drawn during this years national manufacturing conference, held this week at Londons Queen Elizabeth II conference centre by trade association EEF which featured speeches from Leader of the Opposition Ed Miliband and Business Secretary Vince Cable. While delegates reported restricted access to finance is a fading concern, some argued that reluctance by businesses to invest in new equipment, intensified by a lack of appropriate financial support from the government, is as big a worry as ever for producers of goods.
One mile deep
IT equipment funder Syscap had big plans in 2008 and then “the whole world imploded” CEO Philip White tells Fred Crawley how focusing on established strengths has helped the company handle the tough market conditions and notch up its best-ever January figures for new business. The collapse of the leasing market in 2008 could not have come at a more frustrating time for Syscap
Lombard VM closes, ALD named RBS fleet partner
Lombard Vehicle Management is to be wound down, with ALD Automotive announced as provider of contract hire and fleet management products for Lombard in future The Royal Bank of Scotland (RBS), which categorised its fleet subsidiary as non-core in June 2009, will write no new fleet business under the LVM brand. A five-year agreement between RBS and ALD will see the French giant provide service to existing LVM customers until existing contracts to come to term within the next three years.
Editor’s letter: What makes a story?
Its a question Ive come up against several times in recent weeks, as a series of BBC radio broadcasts by investigative reporter Adrian Goldberg have asked whether the asset finance industry is tightlyregulated enough to avoidposing a large-scale risk to banks and consumers. The problem identified is that posed when lessors have continued to pursue payments from businesses that have found themselves on the sharp end of deals with rogue distributors. Its a very simple formula: vendor signs lessee up to lease on the condition that a future revenue stream from the vendor or an associate company will compensate for rentals
1pm boosts profit 238%, targets new funding
UK-based independent lessor 1pm has posted results for the six months ending 30 November 2011, headlined by a pre-tax profit figure of £214,293. The figure not only represents a 238% increase on the equivalent period in 2010, but tops the companys profit figure for the previous full year of trading The companys interim report also revealed revenue up 31% year-on-year to reach £1,151,331, and a lease portfolio expanded from £9.2m to £10.9m.