Archives---April 24, 2009
$60 Million Fraud/Leasing Founder Assets Frozen

Benny Lee Judah works the phones in his office at Excel Financial Co.

The Securities Exchange Commission has frozen the assets and accused 50 year old Benny Judah of Lubbock, Texas of selling some $60 million in unregistered securities between January 2006 and March 2009 for use in his company Excel Lease Fund Inc. dba Excel Financial Leasing, but using the funds for “day trading.”

The complaint filed in US District Court Northern District of Texas on April 21st that through Excel Financial Leasing, he sought to raise $50 million to fund Excel's equipment-leasing business, investments, and to retire debentures which are typically funds raised by a company that pay a fixed interest rate secured through company assets. His circular proclaimed he had over 4500 leases with receivables from the leases at $15 million earning 19.8%. The complaint claims the leases are "fictitious." 

June 3 Letter from one of the victims:
http://leasingnews.org/letters/june_3_letter_to_editor.html

 

(Photo KCBD.com)

TODAY
Age 56, in Federal Prison (Big Spring FCI), sentenced March 5, 2010 to statutory maximum of 300 months (25) years and ordered to pay $59,802,581.06 in restitution; Release Date: 08/23/2031. He pled guilty in November, 2009, to felony offenses stemming from his defrauding at least 250 investors of nearly $60 million.

 

((Please click on ad to learn more))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

 

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Classified Ads---Credit

(These ads are “free” to those seeking employment or looking
to improve their position)

 

Will relocate for the right opportunity and can work remotely. I have (25+) years in making credit decisions, as well as helping sales team and third party originators close more transactions via understanding their applicant's financial abilities. I can create alternative or additional opportunities (and income) by knowing which type of loan is best for the borrower aaacorrespondent@gmail.com

Orlando, Florida As a Commercial Credit Analyst/Underwriter, I have evaluated transactions from sole proprietorships to listed companies, across a broad spectrum of industries, embracing a multitude of asset types. Sound understanding of balance sheet, income statement and cash flow dynamics which impact credit decisions. Strong appreciation for credit/asset risk.  rpsteiner21@aol.com  407 430-3917

Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

 

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###Press Release################################

Ascentium Capital Accelerates Growth in Q1 2015
  77.3% Increase from Q1 2014

KINGWOOD, TX – Ascentium Capital, a leader in providing commercial financing across the United States, announced strong growth during first quarter 2015. The company obtained a 77.3% increase in volume over the same period last year and with assets near $743 million, a 69.3% increase was achieved.

Ascentium Capital is now ranked as the third largest private-independent finance company in volume by the Monitor magazine, a publication serving the equipment finance industry.

Tom Depping
CEO

“Ascentium experienced a historic first quarter, in no small part due to our focus on providing results-driven vendor financing programs and outstanding customer financing experiences to businesses,” said Tom Depping, Chief Executive Officer at Ascentium Capital. “We will continue to expand our footprint throughout the year, building further demand for our financing in key markets including franchise, healthcare, hospitality, IT, and petroleum.”

The proprietary finance platform and market strategy at Ascentium Capital are key drivers in meeting strategic business goals.

Richard Baccaro
EVP of Sales & Marketing

 “We are growing brand awareness and this will ignite growth to ensure we have a successful future,” commented Richard Baccaro, Chief Sales and Marketing Officer. “We continue to attract the top finance professionals in our industry and will expand our specialized salesforce throughout the year.”

As a direct lender, Ascentium Capital specializes in providing business financing, leasing, and loans for equipment manufacturers and distributors as well as direct to businesses nationwide. The company is backed by the strength of leading private investment firms Vulcan Capital and LKCM Capital Group, LLC. For more information, please visit AscentiumCapital.com.

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(Leasing News provides this ad as a trade for appraisals and equipment valuations provided by Ed Castagna)

 

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New Hires---Promotions in the Leasing Industry

 

Tim Brown has been appointed Senior Vice President of Equipment Finance, Santander Bank, N.A. He is based in Hunt Valley, Maryland. "He is responsible for growing the indirect business focused on purchasing equipment lending and leasing transactions on a national scale." Previously, he was Senior Vice President, Intermediary Funding, GE Capital Corporate Finance (1994-April, 2015). Education: Towson University, Bachelor of Science (B.S.), Business
University of Baltimore. Master of Business Administration (M.B.A.), Finance
https://www.linkedin.com/pub/tim-brown/10/a1a/28a

Quin Campbell was hired by Med One Capital, Sandy, Utah, as a Director of Strategic Development to specialize in providing leasing solutions for the medical industry.  He is a graduate of Utah State with a Bachelor’s degree in Marketing and brings four years of experience in management.

Mark Desmond was promoted to Equipment Finance Officer, Business Banking Team, Key Equipment Finance, Superior, Colorado. " In this role, Desmond will lead equipment financing activities for the Cleveland district...Through the Sales ACT rotational program, Mark has gained a wide variety of experience to prepare him for this role,” said Scott C. Edwards, senior vice president, for Key Equipment Finance. “I look forward to working with him to deliver superior equipment financing services in the Cleveland area.” He joined the Key Bank as Lockbox Service Intern, May, 2013, then entered the Sales Associate (ACT Program), July, 2014. Education: Siena College, Bachelor of Science (BS), Accounting (2010 – 2014). “Learned a lot, both in and out of the class room.” Activities and Societies: President, Siena Men's Rugby Club
https://www.linkedin.com/pub/mark-desmond/87/79b/a44

Brock Edwards was promoted to Inside Sales Representative at Key
Equipment Finance, Superior, Colorado; responsible for growing share with strategic IT vendor relationships.  He joined the company July, 2014 in the Sales ACT program, July, 2014. "After completing our comprehensive Sales ACT (accelerated career track) program, Brock is well prepared for this new role working with IT vendors on the East Coast," said Brent Broussard, vice president of sales, information technology, for Key Equipment Finance. "He gained valuable experience in the business bank leasing, IT channel leasing, and commercial credit and capital markets rotations, and I look forward to working with him to provide equipment financing services to this important channel."  Previously, he was Marketing Intern, Oregon State Athletic Department (August, 2013 – March, 2014); Valet, Ringside Fish House (June, 2011 – December, 2013). Education: Oregon State University, Bachelor's Degree, Finance, General (2010 – 2014). Recruitment Chairman, Phi Delta Theta Fraternity (February, 2012 – March, 2013). https://www.linkedin.com/in/brockedwards

Dal Holman was hired by Med One Capital, Sandy, Utah, as a Finance Account Specialist in the newly developed general leasing department.  Previously, he was Utah County Territory Rep, Ortho Solutions, LLC
(March, 2012 –March, 2015); Account Executive, Larry H Miller Sports and Entertainment (November, 2008 – November, 2011); Personal Banker, Wells Fargo Bank (August, 2003 – November, 2008). Education: Weber State University, Sales/Marketing, B of A (2004 – 2008). Dixie State College, A A English (2001 – 2004)
https://www.linkedin.com/pub/dal-holman/26/873/385

Casey Holyk has been hired by Quiktrak, Beaverton, Oregon, as Director of Operations for its Automotive Audit/Wholesale Division. "As Quiktrak continues to expand its presence in the automotive wholesale and dealer finance industry, it became clear that the Audit and Inventory department of the company needed to be split into two separate divisions:  Equipment and Automotive.   As a result of this strategic direction, the company sought a high-level leader for this new auto division." He joined Manheim, January, 2001 as Dealer Sales Rep.; promoted June,2004 to Dealer Sales Manager; July, 2008, Regional Sales Manager-West; January, 2010, Assistant General Manager. Education: University of Phoenix, Bachelors of Science in Business Management (Current Student).
https://www.linkedin.com/pub/casey-holyk/73/802/31b

 

Leasing Industry Help Wanted

For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees.

 

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"Your lease rates are too high"
by Kevin F. Clune, CLFP

It was both surprising and revealing to read this response to a recent Clune e-newsletter article from an employee of an equipment vendor. We realized that if one customer has the gumption to assert this in writing, there may be others who believe it but aren't challenging us. We immediately replied with a note of appreciation and explanation, and I thought I'd share that in this newsletter.

Our response attempted to address all types of alternative financing. This included the manufacturer's financing, other leasing companies, and the customer's bank line of credit. In each scenario, we recognized that cost or borrowing rate is a consideration, but it is also important to make sure you are comparing apples to apples.

Most large equipment manufacturers provide lease financing for customers who acquire their products. The vendors who represent them are likely to push these sources of credit. I stated that our rates are lower than they have been in our 58 year history and asked for another opportunity. Also, if your customer requires flexible terms, a multiple vendor contract, or other customized features, an independent leasing company can better serve their needs.

Are there are additional fees and/or end of lease surprises associated with the other credit source? A good quality product is always more desirable, reflects better on the vendor, and guarantees customer retention.

Kevin F. Clune, CLFP
 Clune & Company LC
kclune@clune.net

 

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ELFA Reports March New Business Up 46%
17% Compared to 2014

(Chart: Leasing News)

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $903 billion equipment finance sector, showed their overall new business volume for March was $8.9 billion, up 46 percent from $6.1 billion in February.  Year to date, cumulative new business volume increased 17 percent compared to 2014.

First Quarter Number Comparison Month/Quarter

	March	1st Q
2015	$8.90	$21.70
2014	$6.10	$18.40
2013	$5.80	$17.40
2012	$5.60	$16.90
2011	$4.30	$14.50
2010	$3.60	$10.90
2009	$4.10	$12.50
2008	$5.60	$16.70
2007	$6.40	$19.70
2006	$4.80	$14.60

MLFI-25 New Business Volume (Year Over Year Comparison)
click to make larger
(Chart: ELFA)

Separately, the Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for April is 70.7, an easing from the March index of 72.1, which was the highest level in four years.

ELFA Statistics showed:

Receivables over 30 days were 1.2 percent, up from 1.1 percent the previous month and from 1.0 percent the same period in 2014.  Charge-offs were at an all-time low of 0.2 percent for the 13th consecutive month.

Credit approvals totaled 78.7 percent in March, up from 78.1 percent in February. Total headcount for equipment finance companies was up 3.9 percent year over year.

Separately, the Equipment Leasing & Finance Foundation's Monthly Confidence Index (MCI-EFI) for April is 70.7, an easing from the March index of 72.1, which was the highest level in four years.

ELFA Charts

Aging of Receivables:

click to make larger

Average Losses (Charge-offs) as a % of net receivables
(Year Over Year Comparison)

click image to make larger

Credit Approval Ratios As % of all Decisions Submitted
(Year Over Year Comparison)

click image to make larger

Total Number of Employees
(Year Over Year Comparison)

click image to make larger

 

ELFA MLFI-25 Participants
BancorpSouth Equipment Finance
Bank of America
Bank of the West
BB&T Bank
BMO Harris Equipment Finance
Canon Financial Services
Caterpillar Financial Services
CIT
DLL
Dell Financial Services
Direct Capital Corporation
EverBank Commercial Finance
Fifth Third Equipment Finance
First American Equipment Finance, a City National Bank Company
GreatAmerica Financial Services
Hitachi Credit America
HP Financial Services
Huntington Equipment Finance
John Deere Financial
Key Equipment Finance
LEAF Commercial Capital
M&T Bank
Marlin Leasing
Merchants Capital
PNC Equipment Finance
RBS Asset Finance
SG Equipment Finance
Siemens Financial Services
Stearns Bank
SunTrust Equipment Finance Group
Susquehanna Commercial Finance
TCF Equipment Finance
US Bancorp Equipment Finance
Verizon Capital
Volvo Financial Services
Wells Fargo Equipment Finance

 

The amount of oil being shipped by rail has increased
50-fold since 2010
by Shane Ferro, www.businessinsider.com

 (Note: much of railroad oil tank cars are leased)

US railroads now carry 33.7 million barrels of oil a month across the country. This is a 50-fold increase in the amount of crude being shipped by rail (CBR) from the 630,000 barrels in January 2010.

The EIA says that "the flexibility and adaptability of CBR has facilitated new flows from the Midwest to the East Coast and West Coast, as well as from the Rocky Mountains to the East Coast and Canada." Previously, most crude produced in the United States was moved by pipeline from Cushing, Oklahoma. 

The increase in crude by rail is great for the industry — it can get the massive amounts of crude now being produced where it needs to go using infrastructure that already exists.

But it has its downsides. The ramp-up of crude-carrying trains has exposed the dangers of crude-carrying train derailments. They existed before, but there wasn't enough being shipped for it to pose a big risk.

Reuters' John Kemp explains the problem this poses for the railroads and the oil industry:

Negotiations between the railroads, oil producers, refiners and the U.S. government about new crude-by-rail regulations and tank car safety standards boil down to the question of how to balance the safety imperative of withdrawing older and less secure tank cars as soon as possible against the commercial imperative of keeping them in service for longer to maintain tank car availability and keep the oil flowing.

The problem is that the risks are real, but minute for any one shipment. And the rewards are easy to calculate.

Safety seems to be making some gains, though. Reuters reported Wednesday that many of the gases in North Dakota crude that can make crude-by-rail crashes at higher risk of explosions will need to be removed before the oil is shipped.

It's a North Dakota rule, but Reuters' Ernest Scheyder writes that, "in the absence of concrete regulations from the U.S. Department of Transportation, North Dakota's new rules become the de facto national standard on the treatment of crude before tank car loading."

 

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Leasing Schools/Franchisors
(For our "Financial and Sales Training" list, please click here)

Global Leasing

Lease One

NAELB

Wheeler Leasing School

(does not include those specifically employed in training or education, but who have a similar program as the following entities)

 

Global Financial Training Program
Over 35 Years of Experience Financing Businesses

Program Cost: $19,950.00

Phil Dushey
President & CEO

In 2001, Global Leasing founder Phil Dushey created a new company to train independent entrepreneurs who want to enter the lucrative field of business financing. Global Financial Training Program teaches all aspects of finance including Equipment Leasing, Accounts Receivable Financing, Cash Advance, Commercial Real Estate, SBA Loans and much more. Phil’s students have found great success with his program.

Mr. Dushey is a founding member of the National Association of Equipment Leasing Brokers. He has been a member and speaker at many leasing organizations for several years. He is also a founding member of the leasing news advisory board.

Global Financial Training Program provides students with everything they need to start making money immediately after four days of training. As a full-service finance company you will provide a valuable service for business owners that have difficulty getting financing from their local banks. The banks are turning down over 90% of business loan applications and you can approve at least 50% of the turndowns. After the training at their offices in New York City trainees are instantly approved with over 25 lenders, get a custom designed website, stationery package, 1000 leads and enough marketing to have their phones ringing the first week after the training and much more... It's easier than you think to fulfill your dreams of independence, living the life you deserve and enjoying the prestige of owning your own company.

You don't need prior experience. All you need is the desire to be your own boss, the ability to learn, good people skills, and a passion to succeed and make a lot of money.

How much, is up to you...

Philip Dushey
President & CEO
Global Financial Services
1 State Street, 21st Floor
New York NY 10004
Email phil@gbtsinc.com
www.globalfinancialtrainingprogram.com 
Phone: 212-480-4900

The Global Group of independently owned companies are:

Global Financial Services | www.globaleasing.com
We have been actively providing financial services for 35 years

Global Church Financing | www.globalchurchfinancing.com
One of the largest independent companies financing equipment for churches nationwide

Global Financial Training Program | www.globalfinancialtrainingprogram.com
The oldest and most comprehensive training program for people who want to own their own finance company

Mr. Dushay is also on the Leasing News Advisory Board 
http://www.leasingnews.org/Advisory%20Board/Dushay_Phil.htm

Moving America Forward is a business television show hosted by William Shatner, anchored by Doug Llewellyn. On this episode we talk to Phil Dushey about his business opportunity and Global.

--------------------

Lease One, Lynnfield, Massachusetts

Program Cost: $19,900.00

Since 1989 Lease One has been providing superior training along with unprecedented ongoing support to our broker network. With offices from coast to coast we proudly exhibit the foremost training experience available. Our one time initial investment will provide you with the training and support for the lifetime of your venture with no on-going fees (Hotel/Airfare/Materials/Leads are all included in this price).

“The Lease One Opportunity is the only turn key business opportunity that allows you to devote the time necessary to building a business, no need to worry about processing or underwriting your deals; we do it for you, forever! Our unique program is the only one that offers free marketing assistance along with a devoted graphics design department to enable you to creatively attract new customers to your business. Call us today or visit our website ( www.leaseoneopportunity.com ) to learn more about this exciting opportunity. We are Lease One; It's the Lease we can do!”

Joseph L. Angelo Jr. 
Lease One Corp.
220 Broadway, Suite 102
Lynnfield , MA 01940
www.leaseoneopportunity.com

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NAELB Leasing School

Program Cost:
Standard Class: $18,950
Premium Package: $28,450

  

(Faculty and Staff include Charles “Bud” Callahan, CLFP, BPB, School Director, with Linda Kester, Marketing Director, Gary Greene, CLFP, BPB, Executive Director and Joseph G. Bonanno, Esq., CLFP, attorney)
http://www.naelbschool.com/bio/

NAELB Leasing School teaches entrepreneurs how to own, operate
and succeed in their own equipment leasing and finance brokerage business.

The National Association of Equipment Leasing Brokers is the only major leasing association to offer an equipment leasing program to become a leasing broker.

The National Association of Equipment Leasing Brokers offers the most comprehensive specialty financial educational symposium in the industry, providing:

• A week long intensive hands-on learning experience with after-hours discussions of real-world leasing situations and valuable course materials including handbooks, industry software and more
• Real-world training by experts in the field (our instructors have been active in the industry for at least 25years each)
• Training week concludes with FREE admission to the following NAELB Conference, offering the perfect opportunity to expand your networking with lenders, industry service providers and fellow brokers who are eager to provide support as you develop your business
• One full year of mentoring from experienced NAELB brokers who help you navigate the pitfalls and point you toward business solutions
• One full year of membership in the NAELB, the nation’s largest leasing broker association formed by brokers for brokers, and use of all member benefit programs
• Graduates are able to deal directly with multiple quality funding sources -­‐ no obligation to split fees with the school or school mentors 
  
  Although many other schools spend less than 1 day discussing the ins and outs of leasing, we spend approximately 40 hours focused on commercial equipment leasing in its modern variations.  We don't take any of our students' time discussing commercial mortgages, LBO's, SBA loans or any of the dozens of other financial products taught at other training programs.

The standard class price is $18,950. Hotel, airfare allowance, meals, NAELB membership, COURSE MATERIALS, INDUSTRY TOOL KITS, and mentorship, are all included at this price.  A premium package, priced at $28,450, includes 5 options selected by the student from a menu of available upgrades.  We offer a $2,000 discount for 'early bird' registration (60+ days in advance of the selected class).  Interested students should call 855-411-ELBS to inquire about other discounts which may be available.

For more information, please visit www.NAELBSchool.com or call 855‐411‐Equipment Leasing Broker School (3527)

 

Wheeler Leasing School

Program Cost: $18,500

Overview

Wheeler Business Consulting L.L.C. provides training and continuous support to individuals seeking to enter the leasing/financing industry. The leasing/financing industry provides much needed funds to businesses looking to acquire essential equipment. Entrepreneurs nationwide are originating equipment financing and leasing transactions assisting small, medium and large companies. It is estimated that 80% of all businesses have leased equipment and that nearly one-third of all equipment purchased by corporations is funded by independent finance and leasing agreements.

There are tremendous opportunities to enter the leasing/financing industry. There are few barriers to entry. Individuals who are properly trained, who are networked with local, regional and national funding sources can arrange transactions for their corporate clients in the range of a few thousand dollars to multi-million dollars.

As with most businesses, the establishment of a lease brokering operation is a long term proposition. However, with the proper training, support and encouragement, an individual can start making above average incomes relatively quickly. Within two to five years an individual should expect to generate an income which is well in the six figure range.

With quality training, individuals will be able to offer consistent, high spirited customer service to their commercial clients. Successful lease brokers can build a business from a small home based operation to a full service office in a relatively short period of time.

My goal is to share my thirty plus years of industry experience with others who are serious about learning and succeeding in the leasing/financing industry.

Contact Information: 
Wheeler Business Consulting LLC 1314 Marquis Ct.
Fallston, Maryland 21047

Phone: 410-877-0428
Fax: 410-877-8161
email: scott@wheelerbusinessconsulting.com

Website: www.wheelerbusinessconsulting.com

August 28-September 4 Jazz Cruise
Sailing Alaska with Jeff Rudin and Crew

Jeff Rudin, CEO, Quail Capital, promises a great cruise, great music, and invites Leasing News readers to join.

"The travel business is my wife’s passion and she does an amazing job. I help her with this annual group cruise. It’s a fun diversion of the leasing/finance grind. We are blessed with good friends that are world class musicians, not to mention my middle son is a professional musician."

Jeff Rudin
JeffR@quailcap.com
T: 818-843-8686 x 14

 

2014 Celebrity Solstice Cruise Alaska Video

 

 

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Facebook Profit Beats Analyst Estimates
Mobile Business Dramatically Up

Nearly three-quarters (73%) of Facebook's advertising revenue now comes from mobile ads. Last year, only 57% of its revenue came through mobile advertising, according to www.businessinsider.com

Mobile user growth is also quite impressive. Facebook saw a total of 798 million mobile daily active users on average last quarter, up 31% from the same period of last year. Monthly active users for mobile jumped 24% year-over-year to 1.25 billion last quarter.

Revenue increased 46% to $3.54 billion, from $2.5 billion a year earlier. Analysts had expected $3.56 billion, with almost 1.5 billion monthly active users as of March, up 13% from a year earlier. The number of users who accessed Facebook on mobile devices at least once a month grew 24% to 1.25 billion.

 

 

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##### Press Release ############################

GATX  2015 First-Quarter $42.1 Million Net Income

CHICAGO--- GATX Corporation (NYSE:GMT)  reported 2015 first-quarter net income of $62.2 million or $1.39 per diluted share, compared to net income of $42.1 million or $0.90 per diluted share in the first quarter of 2014.

Brian A. Kenney, president and chief executive officer of GATX, said, “Rail North America’s outstanding performance continued in the first quarter. The renewal rate change of GATX’s Lease Price Index (LPI) was a positive 43.2%, and the average renewal term was 59 months. Fleet utilization exceeded 99% at the end of the quarter, and our renewal success rate was nearly 85%. These favorable results were driven by continued strong demand for most railcar types in our fleet.”

Mr. Kenney added, “Consistent with our comments at the beginning of 2015, our existing fleet continues to experience high demand, but new railcar order activity has slowed as our customers assess the impact of low crude-oil prices and impending tank car regulations on their business. As these issues clarify in 2015, we can provide better insight into the medium-term effects on our business.

“Rail International’s performance was consistent with our expectations, and they continue to invest in new railcars despite the uneven European economy. American Steamship Company is experiencing another slow start to its sailing season, as Great Lakes’ ice coverage was extensive through the end of March. The Portfolio Management segment benefitted from increased asset remarketing activity during the quarter, and the Rolls-Royce and Partners Finance affiliates continued to perform well.”

Mr. Kenney concluded, “We continue to expect our 2015 full-year earnings to be in the range of $5.15 to $5.35 per diluted share. Consistent with prior guidance, we have not incorporated any costs related to pending tank car regulations into our earnings estimate.”

RAIL NORTH AMERICA

Rail North America reported segment profit of $105.8 million in the first quarter of 2015, compared to $75.0 million in the first quarter of 2014. The improvement in segment profit was driven by increased asset remarketing income, higher lease rates, and the positive contribution from the boxcar fleet that was acquired at the end of the first quarter of 2014.

At March 31, 2015, Rail North America’s wholly owned fleet comprised approximately 126,000 railcars, including nearly 19,000 boxcars. The following fleet statistics and performance discussion exclude the boxcar fleet.

Fleet utilization was 99.3% at the end of the first quarter, compared to 99.2% at the end of the prior quarter and 98.5% at the end of the first quarter of 2014. During the first quarter of 2015, the GATX Lease Price Index (LPI), a weighted-average lease renewal rate for a group of railcars representative of Rail North America's fleet, increased 43.2% over the weighted-average expiring lease rate. This compares to a 39.2% increase in the prior quarter and a 33.9% increase in the first quarter of 2014. The average lease renewal term for cars included in the LPI during the first quarter was 59 months, compared to 67 months in the prior quarter and 62 months in the first quarter of 2014.

Rail North America’s investment volume during the first quarter was nearly $130 million. Asset remarketing income was $36.1 million, as the secondary market continues to be very active.

Additional fleet statistics, including information about the boxcar fleet, and macroeconomic data related to Rail North America’s business are provided on the last page of this press release.

RAIL INTERNATIONAL

Rail International's segment profit was $21.8 million in the first quarter of 2015, compared to $20.7 million in the first quarter of 2014. Segment profit increased as GATX Rail Europe (GRE) had more cars on lease.

At March 31, 2015, GRE's fleet consisted of more than 22,000 cars and utilization was 95.9%, comparable to the prior quarter and 96.0% at the end of the first quarter of 2014. Additional fleet statistics for GRE are provided on the last page of this press release.

AMERICAN STEAMSHIP COMPANY

American Steamship Company (ASC) reported a segment loss of $0.4 million in the first quarter of 2015, compared to a segment loss of $1.2 million in the first quarter of 2014. ASC's operations are limited during the first quarter as the vessels are in winter lay-up from mid-January through late March. For the second consecutive year, first-quarter operations have been negatively affected by ice cover on the Great Lakes.

PORTFOLIO MANAGEMENT

Portfolio Management reported segment profit of $15.9 million in the first quarter of 2015, compared to $11.9 million in the first quarter of 2014. The increase in quarterly segment profit was primarily due to increased asset remarketing income and higher rates for the inland marine and wholly owned ocean-going vessels compared to the prior-year period.

COMPANY DESCRIPTION

GATX Corporation (NYSE:GMT) strives to be recognized as the finest railcar leasing company in the world by its customers, its shareholders, its employees and the communities where it operates. As the largest global railcar lessor, GATX has been providing quality railcars and services to its customers for more than 115 years. GATX has been headquartered in Chicago, Illinois, since its founding in 1898. For more information, please visit the Company's website at www.gatx.com.

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Fernando's View
By Fernando F. Croce

The macro ("Furious 7") and the micro ("Kumiko, the Treasure Hunter") come to the box-office this week, while DVD releases offer sardonic satire ("Maps to the Stars"), a promising debut ("A Girl Walks Home Alone at Night") and a master's ravishing classic ("The River").

In Theaters:

Furious 7 (Universal Pictures): Universal Studio's most popular franchise continues racing along in this adrenaline-packed latest entry in the "Fast and the Furious" series, which marks the last movie completed by the late Paul Walker. The actor reprises his role as Brian O'Conner, member of a crew of mercenary speedsters led by Dominic Toretto (Vin Diesel). Their plans of leading a straight life after their dangerous stunts, however, are thwarted by a terrorist organization determined to seize government secrets, not to mention a former nemesis' brother (played by Jason Statham) who's out for revenge. It's up to them to hop back into their vehicles and settle the score before it's too late. Featuring energetic direction by James Wan and return appearances from the franchise's staples (including another charismatic turn by Dwayne Johnson), this blockbuster should more than satisfy "Fast and Furious" fans' need for speed.

Kumiko, the Treasure Hunter (Amplify): A hit at last year's Sundance Film Festival, this offbeat indie drama is a memorable combination of despair and wry humor. Oscar nominee Rinko Kikuchi ("Babel") stars as Kumiko, a young woman whose lonely life in Tokyo consists of little more than pressure from family and colleagues. Her only joy comes from repeatedly watching the American film "Fargo," and she becomes increasingly obsessed with its story of crime gone awry and buried loot. Convinced about the realness of the movie, Kumiko ventures across the Pacific and finds herself in the Minnesota wilderness, determined to find the money hidden in the snow. Paying homage to the acclaimed Coen Brothers classic while casting its own distinctive magic, David Zellner's film offers a striking view of the borders separating reality and fantasy.

Netflix Tip: Working for decades in everything from science-fiction to TV series, Richard Dysart (1929-2015) was a valuably incisive character actor. So check out some of his most memorable movies, which include "Being There" (1979), "The Thing" (1982), "Pale Rider" (1985), and the long-running legal drama "L.A. Law" (1986-1994).

On DVD:

Maps to the Stars (Universal): Masterful Canadian provocateur David Cronenberg, best known to buffs for his unforgettable horror visions ("Videodrome," "The Fly"), turns his singular gaze to Hollywood for this acidic satire. Los Angeles here is portrayed as a sunny panorama teeming with dreams and perversions and literal ghosts, and peopled by a gallery of venal gargoyles that includes an obnoxious former child star (Evan Bird), a fraudulent celebrity doctor (John Cusack), and a desperate veteran actress (Julianne Moore, in an award-winning performance). Into this viper's nest steps a mysterious young woman named Agatha (Mia Wasikowska), who's been released from an asylum only to come to a different kind of madhouse. A poet of darkly comic decay, Cronenberg digs into this decadent Tinseltown with a gusto that should certainly please his fans.

A Girl Walks Home Alone at Night (Kino): Ana Lily Amirpour makes a striking feature debut with this poetic, haunting tale which mixes elements of fantasy and horror. Set in an imaginary, deserted Iranian town called Bad City, the story follows the wanderings of a female vampire known as The Girl (Sheila Vand), whose thirst for blood leads her to the seediest and loneliest corners around. As she preys on Bad City's most unsavory characters, however, she comes in contact with a handsome laborer (Arash Marandi) who stirs her emotions rather than her fangs. Can she find in romance a way out, or is she doomed to remain a prisoner of her languidly morbid impulses? Filmed in beautifully expressive black-and-white, Amirpour's film may be reminiscent of Jim Jarmusch's vampire tale "Only Lovers Left Alive," but has a beguiling pulse all of its own. With subtitles.

The River (Criterion): One of the greatest of all filmmakers, French master Jean Renoir traveled to India for his first color movie, this ravishing 1951 drama adapted from Rumer Godden's novel. Set in Bengal, the narrative focuses on the growing pains of a trio of teenage women. Harriet (Patricia Walters) is the oldest daughter of a wealthy British family, Valerie (Adrienne Corri) is the daughter of an American industrialist, and Melanie (Radha) comes from American-Indian parents. While learning about life on the edges of the Ganges River, the three find their friendship tested as they fall in love with a brooding war veteran (Thomas E. Breen). Making magnificent use of Indian locations while delicately gazing at the characters' shifting emotions and clashing worldviews, this masterpiece showcases Renoir at the height of his talents, alert to the beauty as well as to the cruelty of life.

Rottweiler/Shepherd
Chicago, Illinois  Adopt-a-Dog

Luna
Age: 4 years 3 months 8 days
Sex:  Female
Size:  Large
Color: Black/Tan
Spayed

 

"Luna is a super sweet 4 year old Rottweiler/Shepherd mix. Luna was transferred to Chicago Animal Care and Control after she was found abandoned. Luna is a big sweetheart and loves hugs and kisses. Luna loves to play with other dogs that are little more mellow than she is. Luna would fit perfectly in with a family with older children or only adults. If you are interested in adopting the sweet girl, please submit an application at our website, chicagocaninerescue.org. An adoption fee of $250.00 covers vaccines up until the point of adoption, surgical spays, microchip and 30 days of emergency pet insurance."

Chicago Canine Rescue
5272 N. Elston Ave.
Chicago, IL 60630 

Adoption Hours
Monday: 5pm – 7pm
Tuesday: 5pm – 7pm
Wednesday: 5pm – 7pm
Thursday: 5pm – 7pm
Friday: 5pm – 7pm
Saturday: 12pm – 5pm
Sunday: 12pm – 5pm

Log In to contact shelter:
http://www.chicagocaninerescue.com/visit-virtual-shelter/

 

Adopt a Pet
http://www.adoptapet.com/

 

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Collector/Collections/Consultant/Communications

Leasing Industry Outsourcing
(Providing Services and Products)

Collector: Atlanta, GA Asset Recovery Specialist. We get your money or we get your > equipment back for you. Physical Asset Recovery Experts! E-mail: mcrouse911@joimail.com	Collector: Cleveland, OH  Huntley Capital & Associates is your solution to late payments, no payments, and asset recovery. Call 216-337-7075.  Email: ghpatey@msn.com
Collections: Dallas, Texas Contingency Fee basis. Receivables Outsourcing. We are a fully bonded nationwide licensed agency. We collect for nationally known banks and leasing companies.  800-886-8088.	Collector: Los Angeles, CA Expert skiptracers covering Southern California. We locate skips, judgment debtors and collateral. When you can't get the job done in house, give us a call at 1-800-778-0794. E-mail: ceo@interagencyLA.com
Collector: Louisville, KY We are a full service collection agency with attorney network. 21 years experience. Please call Jon Floyd, VP at 1-800-264-6850  email: jfloyd@collectcsg.com	Collector: Louisville, KY  Euler Hermes/UMA 92 year old Global Receivables Outsourcing. Presence in 143 Countries. Work w/ 4 out of 5 Fortune 500 firms. Contingency Fee Structure. 20% off first time clients.! Andrew.Newton@eulerhermes.com 1-800-237-9386 x 205.
Collector: Mandeville, MI International commercial collection services all fees are on contingency on line access. E-mail: rmelerine@collect-now.com  www.drspay.com www.collect-now.com	Collector: Milwaukee, WI  We specialize in ATM machine reposession and remarketing. We can get you top dollar for your inventory. E-mail: bdperry1@yahoo.com
Collector: Nationwide End of lease negotiations & enforcement. Third-party collections. Skip-tracing. Background checks. Credit & asset investigations. 15+ years in leasing industry. Providing services to clients nationwide. 800-824-0234 johnkenny2@verizon.net	Collector: Saint Louis, MO Complete commercial collection agency. Licensed bonded in all states and will out performed any other agency! Call 1-800-659-7199 ext.315 E-mail:  jfloyd@lindquistandtrudeau.com
Consultant: Nationwide 25 yrs. experience: Creating/Refining Business Plans to raise capital· Credit Underwriting support/policy/procedure development · Operations Support/policy/procedure development. Call: 610-246-2178, McCarthy Financial, LLC, David.mccarthy@mccarthy-financial.com	Consultant: Burlington, CT We provide our clients with a full range of consulting services such as portfolio conversions, reconciliation, custom programming and leasing operations utilizing InfoLease.  Email: info@new-millennium-assoc.com
Consultant: Europe 15 years doing deals/running own technology leasing company – looking to advise/ lead new entrants to take advantage the European market opportunity. www.clearcape.co.uk or  kevin.kennedy@clearcape.co.uk	Consultant: Henderson, NV Focus on new business development and process efficiencies to create incremental revenue and profitability. Executive level vendor experience, and satisfied outsourcing clients. Incredible track record. E-mail: rbutzek@cox.net
Consultant: Sausalito, CA Lease trainer and consultant. 50 years in equipment leasing. Expert in transaction analysis, financial statement analysis, credit, packaging, structuring. Presents highly popular classes and workshops. E-mail:BoTei@aol.com	Consultant: North of Detroit, MI  INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies. Seeking consulting projects nationwide.  E-mail: darwint@prodigy.net
Consultant: Ridgefield CT. Lisa Lersner w/20 years exp. specializing in leasing technology now providinglessor selection andmanagement services, includingthe securing of debt and equity and acquisition guidance services.   EMAIL leasefinanceconsulting.com	Communications:Chassell, MI Cartoons on business, finance & computers. Use for your presentations, website, newletter, direct mail projects etc. Fees are negotiable.  Email: dan@danscartoons.com  Go to http://www.danscartoons.com

All "Outsourcing" Classified ads (advertisers are both requested
and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

 

 

Receivables Management LLC John Kenny • End of Lease Negotiations & Enforcement  • Third-Party Commercial Collections john@jkrmdirect.com | ph 315-866-1167 www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigative
reporting provided by John Kenny)

News Briefs----

Deutsche Bank's $2.5 Billion Fine Shows Why Regulators Love Instant Messaging
http://www.thestreet.com/story/13123581/1/deutsche-banks-25-billion-fine-shows-why-regulators-love-instant-messaging.html

Costco slashes credit card fees to near nothing
http://www.fierceretail.com/retailit/story/costco-slashes-credit-card-fees-near-nothing/2015-04-21

Feds sue Quicken Loans, alleging improper mortgage lending
http://www.crainsdetroit.com/article/20150423/NEWS/150429904/feds-sue-quicken-loans-alleging-improper-mortgage-lending

New England’s Casino Wars Are Officially Underway
http://www.boston.com/business/news/2015/04/21/new-england-casino-wars-are-officially-underway/RL9gKEzN7dif8eeR3f7WOM/story.html

Shake Shack is making its way to the West Coast
http://www.upi.com/Business_News/2015/04/22/Shake-Shack-is-making-its-way-to-the-West-Coast/8851429703139/?spt=sec&or=bn

 

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--You May Have Missed It

Chipotle now offers delivery
http://www.upi.com/Business_News/2015/04/23/Chipotle-now-offers-delivery/6051429811752/?spt=sec&or=bn

[headlines]
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SparkPeople--Live Healthier and Longer

Healthy Beverage Guidelines
Drink Up, But Drink the Right Stuff
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=605

[headlines]
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Baseball Poems

#  1

 by  Brendan Awerbach

Baseball is a game,  It has a Hall of Fame.

In Cooperstown, it's there, Getting in is so rare.

Baseball! Doubleday is the father of the game we know,
Or is it really so.
Playing in the late 1800's,  
In front of crowds that were smaller then a hundred.
Baseball started in a very small way,
People needed to know how to play.

By the 1920's after the Black Sox scandal,
Baseball was changing and people started to get the handle.

The Yankees of the 30's and 40's started to create quite a sensation, 
as baseball fever gripped the eastern part of the nation.

 Ruth, Gehrig, Cobb, Johnson and Young all became the names of the day,
They would be the first to be in the Hall of Fame in a great way.

 Baseball from the late 30's to the mid 40's took a back seat to the war,
but in the late 40's and 50's came back with roar.

A new generation of players were around,
Led by Feller, DiMaggio, Williams and Snyder, the stars seemed to abound.

The 60's and 70's gave us more greats,
Koufax, Yastremski, Mays, Aaron, Mantle and Maris,
Baseball was known and played from the US to Paris.

As we entered the 80' and 90's, more stars came around, 
Griffey, Ripken, Mcquire, Jackson, Ryan and Smoltz , all are the players that will astound.

The Hall of Fame is where all the greats are enshrined,
To hear their stories and tales can take a lotta time.
To understand baseball is not very tough,
And if you love the game, you can never get enough.

 

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Sports Briefs----

Doug Flutie, Andy Katz among notable finishers in the 2015 Boston Marathon
http://www.bostonglobe.com/sports/2015/04/21/doug-flutie-andy-katz-among-notable-finishers-boston-marathon/eoyMyAAzS7BGoE7viBgQBK/story.html

NFL schedule 2015: Week by week
http://www.usatoday.com/story/sports/nfl/2015/04/21/nfl-schedule-week-by-week/26082763/ 

Santa Clara: Critics pan 49ers' $15 million offer to take over youth soccer fields
http://www.mercurynews.com/news/ci_27953862/santa-clara:-critics-pan-49ers-15-million-offer-to-take-over-youth-soccer-fields

Super Bowl 50 organizers unveil plans for fan village in San Francisco
http://www.mercurynews.com/bay-area-news/ci_27960737/super-bowl-50-organizers-unveil-plans-fan-village

NFL pushing Oakland for progress on Raiders stadium
http://www.mercurynews.com/raiders/ci_27922904/nfl-stadium-czar-met-oakland-officials

Bob St. Clair, Hall of Fame 49ers lineman, dies at 84
http://www.sfgate.com/49ers/article/Bob-St-Clair-dies-at-84-6212538.php

Bonds' obstruction conviction thrown out by appeals court
http://www.sfgate.com/crime/article/Appeals-court-overturns-Barry-Bonds-6217365.php 

Sorry, Santa Clara; this is the San Francisco Super Bowl
http://www.sfchronicle.com/bayarea/nevius/article/Sorry-Santa-Clara-this-is-the-San-Francisco-6217499.php?cmpid=gsa-sfgate-result

49ers' proposal to take over soccer fields sent for further study
http://www.mercurynews.com/bay-area-news/ci_27962743/49ers-proposal-take-over-soccer-fields-sent-further 

Were soccer fields booted by 49ers?
http://www.sfgate.com/49ers/article/Were-soccer-fields-booted-by-49ers-6217663.php

George Seifert remembers 49ers Hall of Famer Bob St. Clair
http://www.sfgate.com/49ers/article/One-SF-native-on-another-George-Seifert-6217107.php

[headlines]
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California Nuts Briefs---

Federal jury indicts Alizadeh and Roseville escrow officer;
  charged in $20 million loan fraud scheme
http://www.sacbee.com/news/local/article19345095.html

Brentwood Boulevard merchants say new traffic median is bad for business
http://www.contracostatimes.com/breaking-news/ci_27975250/brentwood-boulevard-merchants-say-new-traffic-median-is

[headlines]
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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

Alsace Sparkling Legend Dies
http://www.wine-searcher.com/m/2015/04/alsace-sparkling-legend-dies

"Cotton, cattle and Cabernet": Wine industry booming in Texas
http://www.cbsnews.com/news/texas-wine-industry-booming-in-longhorn-state/

As Arizona wine industry matures, experts foresee potential gains
http://www.tucsonsentinel.com/arts/report/042215_az_wine/as-arizona-wine-industry-matures-experts-foresee-potential-gains/

The Unlikely Winners of the World's Best Chardonnay Awards
http://www.wine-searcher.com/m/2015/04/the-unlikely-winners-of-the-world-s-best-chardonnay-awards

Four Paso wineries rank in ‘101 Best Wineries in America’ list
http://pasoroblesdailynews.com/four-paso-wineries-rank-in-101-best-wineries-in-america-list/34418/

An app that shows you Napa Valley's organic wines and wineries
http://www.latimes.com/food/dailydish/la-dd-napa-valley-organic-wines-wineries-organically-napa-20150421-story.html

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm