– by Greg Dahms
May Day! May Day! May Day! The universal call for help. On this May Day you might wonder from where the expression came?
As a pilot, the question certainly came to my mind years ago during my flight training. A little investigation led to the explanation. May Day is from ‘M’aidez, a French term which translates (roughly) to help me. The term ‘May Day’ is first officially listed as a distress call in the 1927 International Radio Telegraph Convention rules.
On this May Day, perhaps it is a good time for CMBS borrowers faced with a looming maturity and overleveraged property to initiate their May Day! May Day! May Day! before their property is lost.
There is help available, rescue is possible, but as is always the case, time is not on your side. Early activation of a response helps save your situation.