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Author: R. E. Ratcliff
Publisher:
ISBN:
Category :
Languages : en
Pages : 177
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Book Description
In 1984, the United States Navy began closing the largest leveraged lease agreement ever undertaken. The cost and structural complexity of that transaction, and the use of tax benefit transfers to partially pay for ship charters have made it one of the most controversial defense programs in recent years. This study examines the controversial issues which have surrounded the Navy's leveraged lease transaction. It also compares that lease with leasing practices in the private sector. In addition, the guidelines and legislation enacted by Congress prescribing procedures to be used by the Department of Defense when considering similar transactions in the future are examined. Finally, several lessons learned from the Navy's leveraged lease transaction are reviewed to better understand the basic issues which precipitated the initial controversy, and to provide a framework for future Department of Defense long-term leasing agreements. Originator-supplied keywords: Lease versus buy, Leveraged leasing, Ship financing.
Author: R. E. Ratcliff
Publisher:
ISBN:
Category :
Languages : en
Pages : 177
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Book Description
In 1984, the United States Navy began closing the largest leveraged lease agreement ever undertaken. The cost and structural complexity of that transaction, and the use of tax benefit transfers to partially pay for ship charters have made it one of the most controversial defense programs in recent years. This study examines the controversial issues which have surrounded the Navy's leveraged lease transaction. It also compares that lease with leasing practices in the private sector. In addition, the guidelines and legislation enacted by Congress prescribing procedures to be used by the Department of Defense when considering similar transactions in the future are examined. Finally, several lessons learned from the Navy's leveraged lease transaction are reviewed to better understand the basic issues which precipitated the initial controversy, and to provide a framework for future Department of Defense long-term leasing agreements. Originator-supplied keywords: Lease versus buy, Leveraged leasing, Ship financing.
Author: Michael K. Schmitt
Publisher:
ISBN:
Category : Management
Languages : en
Pages : 117
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Book Description
The Department of the Navy recently acquired eighteen auxiliary ships, five T-5 tankers and thirteen TAKX cargo carriers. The financing of these ships was not carried out via the standard purchase appropriation but rather through a complex transaction, known as a leveraged lease. The tax benefits contained in the Economic Recovery Tax Act (ERTA) of 1981 permit either public or private entities to share tax benefits with the owner of an asset. Leveraged leasing is based on this principle. The tax benefits received by a public tax exempt entity is a loss to the Federal Treasury and Congress has reacted with legislation to control it. This study examines leveraged leasing in the private and public sector with special emphasis on the lease by the Navy of the thirteen Maritime Prepositioning Ships (TAKX). The complex sequence of cash and tax flows are discussed as well as the impact on the federal budgeting process and Congressional efforts to control the effects on the Treasury. (Author).
Author: Paul A. Haslam
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 138
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Book Description
This project analyzes the Navy's 1982 decision to lease thirteen T-AKX class Maritime Prepositioning Ships (MPS) and five Champion Class T-5 replacement tankers. It examines the MPS/T-5 history, a brief history of Navy ship leasing, and the MPS/T-5 acquisition process. In addition, it reviews the laws and regulations that were in place at the time of the lease and the cost comparison between the lease versus purchase decision. The examination concludes that while leasing the MPS/T-5 ships was more cost effective under 1982 laws and assumptions, many of these assumptions would no longer be used under current laws and regulations. Thus, from a purely monetary point of view, leasing would no longer be more cost effective than purchasing. However, leasing does provide three significant advantages that are not present in a traditional procurement. First, leasing allows the Government to pay as it uses an asset, which spreads the payments over an asset's useful life rather than completely paying for the asset when procured. Second, leasing allows the Government to bypass a lengthy procurement process, resulting in earlier asset utilization. Third, leasing allows the Government to obtain assets that would not have otherwise been procured due to budget constraints.
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher:
ISBN:
Category : Charter-parties
Languages : en
Pages : 202
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Book Description
Author: Jeffers C. Hypolite
Publisher:
ISBN:
Category : Lease and rental services
Languages : en
Pages :
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Book Description
Author: Department Of the Navy
Publisher: Independently Published
ISBN: 9781090335104
Category : History
Languages : en
Pages : 204
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Book Description
The U.S. Navy is ready to execute the Nation's tasks at sea, from prompt and sustained combat operations to every-day forward-presence, diplomacy and relief efforts. We operate worldwide, in space, cyberspace, and throughout the maritime domain. The United States is and will remain a maritime nation, and our security and prosperity are inextricably linked to our ability to operate naval forces on, under and above the seas and oceans of the world. To that end, the Navy executes programs that enable our Sailors, Marines, civilians, and forces to meet existing and emerging challenges at sea with confidence. Six priorities guide today's planning, programming, and budgeting decisions: (1) maintain a credible, modern, and survivable sea based strategic deterrent; (2) sustain forward presence, distributed globally in places that matter; (3) develop the capability and capacity to win decisively; (4) focus on critical afloat and ashore readiness to ensure the Navy is adequately funded and ready; (5) enhance the Navy's asymmetric capabilities in the physical domains as well as in cyberspace and the electromagnetic spectrum; and (6) sustain a relevant industrial base, particularly in shipbuilding.
Author: Lloyd Taylor Harrell
Publisher:
ISBN:
Category : Leasing
Languages : en
Pages : 222
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Book Description
Author: Institute for National Strategic Studies
Publisher: Government Printing Office
ISBN: 9780160897634
Category :
Languages : en
Pages : 348
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Book Description
Tells the story of the growing Chinese Navy - The People's Liberation Army Navy (PLAN) - and its expanding capabilities, evolving roles and military implications for the USA. Divided into four thematic sections, this special collection of essays surveys and analyzes the most important aspects of China's navel modernization.
Author: Peter K. Nevitt
Publisher: John Wiley & Sons
ISBN: 9781883249663
Category : Business & Economics
Languages : en
Pages : 478
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Book Description
Equipment Leasing is a practical reference for financial managers who need background information, and an understanding of how leasing can be utilized as a cost-effective means of equipment financing-especially under the new tax law in the United States. It explores various types of leases, including single investor leases, leveraged leases, tax requirements for true leases' and lease-buy economic analysis. This invaluable resource includes the background and basics of equipment leasing, history of leasing, synthetic leases, financial reporting of lease transactions by lessees, operating a leasing company, and much more.
Author: Peter P. Jarzembinski
Publisher:
ISBN:
Category :
Languages : en
Pages : 120
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Book Description
