Monthly Archives: May 2015

iServiceGlobe and Sky Technologies Announce Partnership to Deliver Mobile Solutions to SAP Clients throughout the Globe

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Sunnyvale, CA (PRWEB) May 11, 2009

iServiceGlobe, an SAP business solutions provider, and Sky Technologies, an industry leader in enterprise mobility, and integration for SAP, announced today their partnership to sell Sky’s mobile solutions.

The two companies have already engaged one of iServiceGlobe’s existing clients; Canada based information security company, Securit. In the process of developing the ideal solution for Securit’s CRM implementation, the iServiceGlobe consulting team found Sky’s existing platform had the capabilities to meet their client’s mobility needs. Sky Technologies software will provide the backbone for communication between Securit SAP CRM Services system and the Motorola Symbol

New Payment Office Monitoring Service Tracks DoD Invoices

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Fairfax County, Virginia (PRWEB) June 1, 2009

A new “payment office monitoring service” (POMS) tracks invoices, making billing and collections faster, better, and more reliable at a price 35% to 55% lower than comparable processes performed in-house by accounting staff.

Developed by the Accounts Receivable Management Corporation (armcor.com Ltd.), POMS for DFAS is for contractors that submit invoices to the Defense Finance and Accounting Service.

“I’ve been involved with the A/R side of the government contracting world for nearly twenty years, and I know that POMS will make contractors more efficient and profitable,” says John Fedewa, President. “POMS tracks more than 50 data points about each invoice, helping subscribers detect problems right away, before they become costly and disruptive.”

Offered with a no-obligation 40-day trial, POMS for DFAS provides subscribers with an e‑mail notification summary of all changes to submitted invoices 2, 3, or 5 times a week. Monthly, quarterly, and annual subscriptions are available.

After the free trial period, POMS for DFAS costs as little as 22 cents per day per invoice. Actual rates vary according to monitoring frequency and the quantity of invoices to be tracked, and discounts are given for longer subscription commitments.

“The bottom line is that tracking a typical Net 30 invoice with POMS for DFAS will cost an active biller between just $ 6.65 and $ 15.11,” says Fedewa. “That’s an expense that pays for itself many times over in saved staff time, reduced average days outstanding, and increased cash flow. With POMS for DFAS, you’ll never get blindsided by a collections crisis.”

According to Fedewa, POMS will offer additional enhancements and expanded capabilities in the future.

See payofficemonitor.com for more information.

About the Accounts Receivable Management Corporation:

The Accounts Receivable Management Corporation (armcor.com Ltd.) is a niche financial services company based in Greater Metropolitan Washington, DC. Founded in 1999, armcor.com is a provider of working capital sourcing, collections, A/R consulting, and specialized factoring services underwritten by private lenders securitized by government receivables. armcor.com currently offers POMS to prime contractors serving military agencies of the United States government CONUS, OCONUS, in theater, and throughout the world.

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Commercial Real Estate: Not Sick, But Not Well — Investors, Developers Await Final Diagnosis of Today’s Commercial Real Estate Market

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Richmond, VA (PRWEB) June 9, 2009 –

Sick? Well? On the road to recovery? The diagnosis is still out on the state of today’s commercial real estate market, according to “I’m Not Sick, But I’m Not Well,” the latest in a series of timely, informative podcasts produced by John B. Levy & Company. This new podcast, which is available online at http://www.jblevyco.com, provides clients and analysts with clear understanding of what they can expect in today’s market.

Sentiment among investors and developers about the outlook for commercial real estate is mixed. On the positive side, the stock market has trended up nearly ten percent since April, and along the way, government loan programs have begun to work. But as previous podcasts from John B. Levy & Company have emphasized, commercial real estate is a lagging indicator. It’s unclear whether the market has hit bottom. And even if it has, there are no signs that conditions are improving, even modestly.

“There’s no doubt about it. We are in the throes of a violent deleveraging,” says John Levy, founder of John B. Levy & Company. “Most of us – and I’m speaking for myself, too – have never seen anything like these current conditions. By the time this is all over, values will have declined some 25 to 40 percent from their peak.”

Having experienced the deleveraging and suffered the loss of value, real estate investment trusts (REITs) are now raising new capital at a frenetic pace. In the past couple months alone, more than three dozen REITs have raised over $ 12 billion. As all this takes place, private developers wait on the sidelines, hoping that values recover quickly.

“I hate to say it, but ‘hope’ is not a business strategy,” says Levy. “What’s happening right now reminds me eerily of what happened in the early ’90s. REITs raised new equity long before private developers determined they should do the same.”

As for the debt side of the commercial real estate equation, there have been no new securitizations since the beginning of 2009. What the market is experiencing is an exceedingly high demand for loan extensions from borrowers who can’t find replacement debt.

“CMBS servers are facing a tsunami wave of loan extensions for maturity defaults,” says Levy, “and most are for six months to a year. By the end of 2009, we expect to see extensions as long as three years, perhaps even five.”

Borrowers need to know that there’s a difference between getting a loan extension from a CMBS server and a bank or life insurance company. A CMBS loan extension requires specific processes and procedures, which makes it important that borrowers work with an experienced mortgage or investment banker. Not doing so puts them at a distinct disadvantage.

“Can borrowers who are requesting loan extensions do so without an experienced mortgage or investment banker? Yes,” says Levy. “But that’s not what we recommend. It’s like going to court without a lawyer. Sure, it might be cheaper but only in the short run.”

Firm Background

John B. Levy & Company, Inc. is a real estate investment-banking firm headquartered in Richmond, Virginia. Since John Levy founded the company in 1995, the firm has structured over $ 3.5 billion in financing for developers and owners of commercial and multi-family projects nationwide, often investing its own proprietary funds into transactions with its clients. Mr. Levy is an expert on commercial real estate financing and the effects of interest rates on commercial real estate markets. He is the originator and author of the Barron’s/John B. Levy & Company National Mortgage Survey, a monthly survey of more than 30 of the country’s largest institutional investors, as well as buyers and sellers of commercial mortgage-backed securities, which Barron’s published for over 23 years. Mr. Levy is also co-creator of The Giliberto-Levy Commercial Mortgage Performance Index (sm), the first and pre-eminent index to measure and analyze the performance of investments in the commercial mortgage industry. Additionally, he is a member of the Board of Directors of Anthracite Capital Inc. (NYSE: AHR), a New York Stock Exchange REIT managed by BlackRock, Inc and a former director of Value Property Trust.

For more information about John B. Levy & Company, please visit the firm’s website at http://www.jblevyco.com or call John Levy at 804-644-2000, extension 237. You may also follow us on Twitter at http://twitter.com/jblevyco.

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Jewish & Palestinian Students Unite to Answer Obama’s Call to Action in Cairo By Launching Site to Empower Middle East Entrepreneurs

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Philadelphia, PA (PRWEB) June 9, 2009

Speaking to the Muslim world from Cairo University, President Barack Obama recently challenged people of all nationalities to “turn dialogue into interfaith service so bridges between peoples lead to action.” A group of four University of Pennsylvania students and alumni have recently answered Obama’s call by launching LendforPeace.org, a grassroots organization that promotes economic opportunity and stability in the Middle East. The organization, founded by two Jews and two Palestinians, is a not-for-profit Internet platform that allows individuals to make small loans to specific micro-entrepreneurs in the West Bank. In doing so, LendforPeace.org allows one to help Palestinian micro-entrepreneurs lift themselves out of poverty by building sustainable businesses.

LendforPeace.org, which was recently showcased on Fox Business, has partnered with world-premier institutions to develop their international microfinance platform. The organization received grants from the Clinton Global Initiative and Ashoka, and has formalized relationships with a number of successful microfinance institutions in the Middle East. These microfinance institutions have been approved by the US Government’s humanitarian assistance agency, USAID. They are responsible for selecting creditworthy entrepreneurs, posting entrepreneur profiles to LendforPeace.org’s website, and delivering capital and support services throughout the duration of each loan. Lenders can contribute as little as $ 25 to a particular entrepreneur’s micro-loan and then receive updates as their entrepreneur’s business grows. Unlike a donation, lenders get their money back at the end of the pre-set loan period and can choose to withdraw their money or to re-loan it again and again.

LendforPeace.org aims to unite people from all parts of the political spectrum by focusing on the concrete business of economic development. The site creates financial and emotional bonds between the diverse set of lenders around the world and borrowers in the Middle East who participate. The founders of LendforPeace.org are sensitive to the power of interfaith dialogue as they themselves crossed ethnic and religious lines to bring the organization to life. “We have constant political disagreements,” said Co-Founder Sam Adelsberg, “but we recognize that in order to make progress we have to focus on the areas on which we can agree. One thing we all believe is that there is no winner in poverty.”

LendforPeace.org’s launch comes on the heels of a $ 5,000 pilot which yielded a 100% repayment rate. While the Middle East is more volatile than other regions, this success is in line with repayment rates worldwide: according to the Microcredit Summit Campaign, the average on-time repayment rate for microcredit is more than 97%. LendforPeace.org hopes to replicate the success of its pilot going forward. While economic development is central to the organization’s mission, LendforPeace.org believes the interaction facilitated on the site alone may have a positive impact. Said Co-Founder Allam Taj, “Part of our goal is to humanize the Palestinian experience, both through exposing lenders to specific individuals in the West Bank and by letting borrowers know that their loan was made possible by an organization started by young American Jews and Palestinians who care about their future.”

LendforPeace.org benefits from an accomplished Board of Advisors including Delphine Thizy, PlaNet Finance’s Director of the Palestinian Territories, and attorney Howard Finkelstein, one of the country’s pioneers in the securitization of microfinance-related obligations. LendforPeace.org is also being advised by Hanna Siniora, a member of the Palestine National Council and the chairperson of the Palestinian-American Chamber of Commerce, and David Gutelius, a Silicon Valley software entrepreneur and co-founder of Ishtirak, a technology and microeconomic development consultancy focused exclusively on the Middle East and Islamic Africa.

LendforPeace.org recently held its official launch in Philadelphia at the Wharton School’s Jon M. Huntsman Hall. The event included a presentation by the founders, an invocation from University Chaplain Chas Howard and a keynote address on active citizenship by Dr. John DiIulio, the first Director of the White House Office of Faith-Based Initiatives. The event culminated in a surprise video-conference with Salma Suleiman of Asala, one of LendforPeace.org’s microfinance partners in Ramallah. Salma stayed up until 3 AM local time to participate in the launch event and to encourage attendees to get involved. Said Salma, “LendforPeace.org will help us increase our microlending activities here in the West Bank. This in turn will enable us to shepherd more and more families out of poverty.”

In the words of President Obama, “Faith should bring us together. That’s why we’re forging service projects in America to bring together Christians, Muslims, and Jews.” LendforPeace.org is proud to be a part of this movement of interfaith dialogue and service.

For more information, please visit http://www.LendforPeace.org.

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Andrews Kurth Partner Patrick C. Sargent Named President of CMSA, 2009-2010

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New York (Vocus) June 10, 2009

Commercial Mortgage Securities Association is pleased to announce the succession of Patrick C. Sargent as President of CMSA for June 2009-June 2010. He follows Christopher Hoeffel, who served as President this past year and whose term concludes during CMSA’s 15th Annual Convention, now being held in New York.

Pat Sargent is a partner with Andrews Kurth LLP and a member of the Real Estate and Structured Finance and Securitization practice groups in the firm’s Dallas office.

“I’m honored to serve as President of CMSA for the upcoming year, a time I see as our market’s ‘recovery year,'” Mr. Sargent said. “While challenges remain, it’s clear that CMSA is the effective voice for the industry in outlining its views to advance the needs of the members it serves. I see CMSA and its membership as pivotal in bringing strength, reliability and stability back to our industry,” he said.

“Alongside Pat, I wish to sincerely thank Chris Hoeffel for his thoughtful and remarkable leadership during our market’s many challenges this year,” said Dottie Cunningham, Chief Executive Officer, CMSA. “Chris’ stewardship of CMSA through last fall’s acute turmoil in the U.S. financial markets through his work in guiding our members through the many facets of these relief efforts remains instrumental to our mission, and all of us owe Chris a large debt of gratitude.” she said.

“I also join Chris in welcoming Pat as our President,” Ms. Cunningham continued. “Pat is one of the industry’s most experienced, committed and respected leaders in commercial mortgage finance. On behalf of CMSA’s members, all of us look forward to working with him as we begin this year filled with opportunity, recovery and success,” she said.

Pat Sargent has represented participants in every facet of U.S. and international securitization and structured finance transactions, including commercial mortgage loan originators and loan sellers, issuers, investment banks, servicers, borrowers, investors, and rating agencies. Pat is a member of the Board of Governors of CMSA and also serves on the Board of Governors for the Mortgage Bankers Association and the Board of the Chartered Realty Investor Society. He is also a frequent speaker and writer on commercial real estate finance issues.

Pat received his Bachelor of Science degree in accounting from Kansas State University, where he graduated Phi Beta Kappa, and his law degree from Southern Methodist University School of Law, where he served as editor of the Southwestern Law Journal.

Commercial Mortgage Securities Association, the international trade association dedicated to promoting the ongoing strength, liquidity and viability of commercial real estate capital market finance, acts as a legislative and regulatory advocate, playing a vital role in setting industry standards for the global commercial mortgage markets.

Unlike many trade organizations, CMSA is a collective voice, representing the full range of the industry’s market participants: large money-center and investment banks, rating agencies, insurance companies, traders, B-piece buyers and investors.

With more than 270 member companies globally, and with a presence in Europe, Japan and North America, CMSA is dedicated to insightful, forward-thinking research and industry initiatives that encourage vision, innovation and continuous professional growth for market participants. CMSA is committed to being responsive to its members, providing them with a culture of collaboration, collegiality, open and inclusive dialogue, consensus building and respect for diverse views.

Media Relations:

For CMSA: Kenneth Reed, kreed (at) cmsaglobal.org, 212-589-0961

For Andrews Kurth: Ashley Nelly, ashleynelly (at) andrewskurth.com, 713.220.4410

About Andrews Kurth LLP

For more than a century, Andrews Kurth has built its practice on the belief that “straight talk is good business.” Real answers, clear vision and mutual respect define the firm’s relationships with clients, colleagues, communities and employees. With more than 400 lawyers and offices in Austin, Beijing, Dallas, Houston, London, Los Angeles, New York, The Woodlands and Washington, DC, Andrews Kurth represents a wide array of clients in all areas of business law. For more information about Andrews Kurth, please visit http://www.andrewskurth.com.

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