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Auction Roadies

Now the seats are all empty

Let the roadies take the stage
Pack it up and tear it down

They're the first to come and last to leave
Working for that minimum wage
They'll set it up in another town

—Jackson Browne and Bryan Garofalo, “The Load-Out” (1977)

Box JumperWhat I learned at CrossFit today, I actually knew from a prior experience. Our workout this morning was a 20-minute series of weight lifting, kettle bell swings, and box jumps (simplified for ease of reading). The box jump is just what it sounds like, and is shown in the photo. Quite simply, you jump on the box, get off and repeat. It’s not particularly difficult, but if you miss the box it can really hurt.

20151029 Monument Farms Dairy 240x160

This past July, my wife Margaret and I embarked on a multi-day cycling trip through the rolling hills of Western Vermont. One day, as we headed north on James Road near Weybridge, we had some of the best views of our three-day tour. This particular ridge boasted breathtaking views of the High Peaks Adirondack range in New York to our left, and the Green Mountain range of Vermont to our right—at the same time. Having been out in the hills for a couple of hours in the 90 degree sun, it seemed like a good place to stop, when we happened upon the intersection of James Road and Weybridge Road. It wasn’t so much the Norman Rockwell nature of this little intersection that captured us, nor the nice park we found that drew us to explore a bit more, it was Monument Farms Dairy.

198 - Secured-Creditor-Checklist-240x160The Uniform Commercial Code (or UCC) was introduced in the 1950s with the goal of harmonizing state laws pertaining to commercial transactions of personal property. Despite that goal, each state still maintains its own version of the code, which will vary slightly from jurisdiction to jurisdiction.

Article 9 is a specific component of the code that governs security interests in personal property as collateral to secure a debt. This pertains to how a security interest is created and how to give priority when multiple claims to the same collateral occur.

When a debtor defaults on its obligation, the creditor may repossess and dispose of the collateral. A creditor can sell collateral in a public auction or private sale as long as notice is given and the disposition is commercially reasonable.

foodtruckthumbThe food truck craze is in high gear, and we recently had the opportunity to visit OutFront Food Trucks, a company that is an industry leader in the engineering and build-out of all kinds of food trucks.

With their help, we put together a video that summarizes the process of building a food truck to give a sense of how much time, money and effort goes into each of these traveling restaurants.

It won't be long before demand gives way to a secondary market, and we want to stay on the forefront of this trend, adding this element to our already robust machinery, equipment and real estate industry knowledge.

fracking equipmentAugust 27, 2015 - Section 362(d)(1) of the US Bankruptcy Code provides relief from the automatic stay “for cause including the lack of adequate protection.” Section 361 defines adequate protection as “providing either cash payments, an additional or replacement lien or ‘such other relief as to provide an indubitable equivalent…of interest in such property’.” A secured creditor that is over-secured is often denied a motion to lift the automatic stay based on 362(d).

In our blog The High Cost of Cheap Gas, we reported that this year alone, oil and gas companies have accounted for one third of the corporate-debt defaults worldwide. Companies like SandRidge Energy Inc., and Halcon Resources Corp. have had to issue new secured debt, which will make it difficult for unsecured bondholders to be repaid if the companies are in default. The markets are ripe for some really big defaults from the energy sector, and also those suppliers to the energy industry.

NAA Conference & Show 2015 fun auctionJuly 23, 2015 - As a newcomer to the industry, the 66th International Auctioneers Conference & Show, held in Dallas, Texas was to be my introduction to the world of auctioneers. I'm a marketing guy by nature. I've spent the last 15 years working for various financial institutions, primarily in marketing or digital marketing/product related roles. I had no idea that for the last 66 years, the Conference & Show existed.

We had planned to arrive Tuesday, but mother nature decided to thwart those efforts. Our connection through Chicago was canceled and there was no hope of re-routing. That meant no Eddie Deen's Ranch for me. After another pre-dawn wake up on Wednesday, the planes were on time and I was on my way.

Intangible Asset ValueThe main focus of our practice at Blackbird Asset Services is clearly in the machinery and equipment space selling and valuing (primarily) industrial assets. However, there are often times in this business where intangible assets such as patents, trademarks, licenses and even customer data come into the equation. Many an instance has unfolded where “hidden” value was unlocked by the sale of an intangible asset that almost went unnoticed. In other instances those assets aren’t so hidden.

RadioShack, a stalwart of American electronics retail stores, filed Chapter 11 in February 2015 after a long period of financial distress. Once a bastion of the do-it-yourself radio and electronics era, RadioShack had simply failed to keep up with the trends of the new millennium. Last month a deal was finalized for Standard General to purchase the remaining assets of RadioShack for $26.2 million. This includes the RadioShack name as well as the data for 67 million customers.


GPS in Construction and AgricultureJuly 2, 2015 - By now The Global Positioning System (GPS) is a household name. GPS receivers are integrated into everyday devices: cars, phones, watches, even golf balls. Originally developed for military purposes, the United States government created and maintains the system and also makes it freely accessible to anyone with a GPS receiver. With the prevalence of the GPS new applications arose, such as the ability to automate machinery, even to be driverless. 

 

GPS enabled tractors, earth movers, excavators and other equipment are all part of a shift to increase automation. Combining GPS and automation software, operators can monitor multiple machines from a remote location.In a driverless scenario, operators can command machines to perform tasks like accelerating, braking, steering and also have the ability to implement sensors to detect obstacles.


oil wellsJune 25, 2015 - In the first half of this decade oil prices remained quite stable.  In contrast, since June of 2014 costs per barrel have fallen more than 50% from their highs.  There are a myriad of reasons for this, but a common theme is that we are in a slowing global economy, which in-turn creates a lower demand.  We also saw OPEC keep production at high levels despite lower demand amidst already high surpluses of crude.  This policy has proven to keep negative pressure on pricing.

 

Now, to the average consumer lower oil prices should be a good thing.  Consumers get cheaper gas, and in theory cheaper goods and services!  Well, the problem is that those goods and services often don’t get any cheaper.  The savings from fuel prices don’t trickle down very far.  For starters, consumer goods are typically distributed by diesel equipment and diesel prices haven’t decreased as much as unleaded gas.  Some consumers might see a boost in household discretionary budgets, but for every action there is always an opposite reaction.