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Treasury Link
  In the May 6, 2009 Issue:
From the Editors of
Sale-Leasebacks Gain Ground
Tightwads: Why Banks Trickle Nickels
Managing FX Volatility
Trade Protectionists Rattle Supply Chains
Globalization Is Nothing New
Musings on Mark-to-Market
What To Do About China
BPM Summit Presentation: Rethinking Planning, Budgeting, Forecasting, And Target Setting
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Today's Alerts
Sale-Leasebacks Gain Ground

Now that banks have tightened their lending practices, more companies are turning to alternative sources of financing, such as sale-leaseback transactions. These occur when a company sells its property to an investor or buyer and then rents the property back under a lease. The primary reason for doing a sale-leaseback is to free up cash. However, the transaction also can provide tax benefits and offer more flexibility than bank financing.

Tightwads: Why Banks Trickle Nickels

Banks actually have pretty high liquidity, yet they're still not lending. What's up?

Managing FX Volatility

If you're a financial exec charged with managing your firm's FX exposure, you've had your work cut out for you lately. Most companies have relied on their financial consolidation programs, aided by ad-hoc and spreadsheets -- the "gum-in-the-dam scenarios" -- to get an idea of their exposures, Wolfgang Koester, corporate currency strategist with Fireapps, notes, but that may not cut it in this volatile market.

Trade Protectionists Rattle Supply Chains

While the leaders at the recent G-20 meetings went to great lengths to appear united in their efforts to battle the ongoing financial crisis, a different story is emerging from behind the scenes. A report by the World Bank indicates that 17 of the G-20 have implemented 47 measures "whose effect is to restrict trade at the expense of other countries."

Globalization Is Nothing New

Globalization is a buzz word these days, but it's not a new concept, according to Mark Billings, a lecturer in accounting and risk at Nottingham University in England. He researched the history of corporate treasury, including the broader economy in which companies operated, and found that levels of globalization fluctuated over the decades and it wasn't until the 1990s that the world had returned to the levels that had existed around the time of World War I.

Musings on Mark-to-Market

Last month, the Financial Accounting Standards Board eased its guidance on FAS 157-e, better known as mark-to-market. Many financial institutions hailed the change, however, the new ruling won't necessarily alleviate the challenges facing banks.

What To Do About China

There are signs of growing protectionism among a number of the G-20 countries, but "these measures pale by comparison to Chinese protectionism, which contributed importantly to the (financial) crisis," according to Peter Morici, a professor at the University of Maryland. Morici, along with others, such as Treasury Secretary Tim Geithner, believe China is manipulating its currency, which hurts the sale of American-made goods.

BPM Summit Presentation: Rethinking Planning, Budgeting, Forecasting, And Target Setting

The 6th Annual BPM Summit, Generating Value Through Visibility, brought together some of the business world's foremost practitioners to explore the transformational role of finance in the enterprise. If you missed the live event, you can still enjoy unlimited access to the audio and slide shows from the keynote speaker presentations at our on-demand archive.

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A Call to Action: Leverage the Downturn, Maximize a Savings Opportunity

Streamline Finance Operations and Drive Growth in a Challenging Economy

GRC Comes of Age: Leading Practices, Hazardous Pitfalls

Using Performance Drivers to Enhance Business Success

Expert Video

Cost of Capital Bifurcating Business:
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