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©
Business Money Ltd 2008
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The fifth Business Money
All-Asset Finance Conference
CBI Conference Centre, London
- 29 April 2008
The last minute loss of key presenters is the nightmare of any
conference organiser but for a variety of reasons, they happen. If
those that struck
last year gave the presentations an unbalanced agenda, I still thank
with all my heart those that willingly leapt into the breach.
The absences this year could not be avoided by those concerned and
we hope to invite them both back next year. As it turned out, those
stepping in at the last minute performed admirably and the feedback
forms suggest they were very
well received.
If numbers were slightly down this year, this was as high powered a
conference as we have run so far and this contributed well to the
open forum debates that always prove so fruitful for many even if
not entirely to the taste of all.
All of our all-asset finance conferences have had a theme to reflect
the issues, challenges and opportunities of the time as the ABL
product has evolved.
That for 2004 addressed retail finance, especially inventory,
examining reservation of title and looking hard at the USA where
much of its ABL commitment is to this sector. 2005 we were gripped
by wholesale changes to pension legislation and its effect upon the
MBOs and acquisitions. We followed in 2006 by addressing the sales
and delivery strategies of those offering ABL and in 2007 we
considered the opportunities available through the
considerable value attaching brands and intellectual
property.
Our theme for 2008 was protecting your asset.
Our sponsors Squire Sanders & Dempsey offered the double act of
Grant Jones, who has been first on and fired up every one of our
conferences so far, and Andrew Knight offering his market leading
grasp of the gains and pitfalls that might be encountered as you
cross various borders.
A potentially dry topic yet one that evoked some strongly
appreciative comment from a wide range of the professions in the
assembly. We topped and tailed the conference with Grant and Andrew
in response to strong demand expressed beforehand.
Jamie Gould and Gary Quaife told us about the new thrust from
Edward Symmons especially regarding inventory finance and,
consistent with the theme of the conference, pointed out that more
frequent monitoring was probably a very good investment.
I like to mix the content and saw no harm in introducing a session
from Mike Symes of Strand Financial telling us how he had to kick
start the Landsbanki brand from zero to the high profile position it
now enjoys. Not all bankers and corporate recovery types understand
marketing yet Mike’s infectious enthusiasm generated excellent, or
very good, totalled responses of well over 80% which pleased the
organiser. Keeping a conference lively and stimulating is the
challenge and Mike played his part in meeting that end.
Coffee time and we had already revisited obliquely the theme of two
previous conferences, inventory finance and marketing ABL – things
were going well.
Our American speaker, Tom Salerno had, through no fault of his own,
been unavoidably kept from us and conference chairman, Paul Hancock,
leapt into the void with an impromptu, yet highly polished and
detailed session on events across the pond. Even allowing for the
esteem in which Paul is held by his peers in the audience, this was
a masterful presentation from someone who spends much time in North
America and Paul too received high praise in the assessment forms.
Another revisit followed, why not? The issues do not go away, and
Lee Manning of Delloitte and Stuart
Marshall of Litmus joined me in discussing if the ABL sector had
evolved its proposition since we addressed the subject in 2006. This
was a late filler and Stuart Marshall is a natural in presenting
several issues well.
I like open forum debates. When you assemble a gathering such as we
enjoy at our conferences it is crazy if you do not seek the
opportunity to elicit opinion from the floor and a pressing issue
and distil it by debate.
Paul Beveridge led on the theme of: “Pawnbroking the asset or a
partner in the strategy”? He stimulated a lively and productive
discussion which won powerful ratings on the assessment forms.
Suffice it to say that I did not need them, the buzz from the floor
was tangible, my thanks to everybody who contributed.
Drinks and lunch produced a further buzz and at 2.00pm we
re-gathered to hear Professor David Smith with a very lively,
humorous and detailed presentation of the economy. David will be
familiar to many through his regular slot in the Sunday Times, in
the flesh he proved that economics can be absorbing and entertaining
– he achieved the biggest scores I have ever seen on the assessment
forms so he is a must for next year if I can secure him again.
Paul Hancock had chosen the subject: The end of an economic era? New
opportunity? Despite afternoon sessions being tougher to fire up
this went well and moved towards the close with three specialists on
asset values giving us their thoughts on where the values are
heading. Mat Oakley of Savills on property, Matt Earl of
GoIndustry-Dovebid standing in for an injured Tim Chapman – get well
soon Tim – on plant and machinery, and Stuart Whitwell on brands.
Grant Jones and Andrew Knight wrapped up the topics with which they
had opened the day for us and chairman, Paul Hancock summarised
the day.
My thanks to all who contributed to making this conference the best
yet.
Editor
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