1997--Pictures from the Past
Leasing Icon Fred Van Etten
Co-Founder/Executive Vice-President
Chief Marketing Officer
First Sierra Financial
(Photo by the late Charlie Lester)

 

Today

President
Scottrade Bank Equipment Finance
Chairman, The Van Etten Foundation
Owner/Partner, Van Etten Farms, LLC
(Photo: www.linkedin.com/in/vanetten)

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Classified Ads---Sales

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

Boston, Mass. Accomplished Sales & Relationship Management Professional with business development experience in the financial services industry. Recognized by market leaders as industry expert in Professional Practice financing, as well as Residential Mortgage Lending. Keen insight and understanding of transaction process and financial requirements of customer. Proven record of exceeding sales goals. deb.harold@hotmail.com

Work Remotely Business Development - Are you looking to enter/increase your Healthcare lending? Let me identify and qualify healthcare (all verticals) vendors, distributors, and end users who utilize leasing/financing as a tool to sell equipment for you. Many years experience - contact Mitchell Utz at mitutz@msn.com or  (215) 460-4483.

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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Déjà vu on Proposed Lease Accounting Changes
by Christopher Menkin

Discussions continue regarding changes in lease accounting by the International Accounting Standards Board and the Financial Accounting Standards Board. However, the IASB Staff Decisions report, 16 pages, looks like this is déjà vu ala the metric conversion imitative of several decades ago. The European group will go one way, and the U.S. will go another, with Europe putting "all" leases on the balance sheet, the U.S. choosing a dual model with bells and whistles. "All" is in quotation marks because it really isn't all, as there appear to be "minor" exceptions to today's definitions.

The 16 page report intimates the changes, and in this short article, all is definitely not covered, as the discussion continues. It certainly appears IASB has their minds made up and will go their own way, just as reported last week regarding the Global Agreement on Financial Instrument Project.  Hans Hoogervorst, chairman of the International Accounting Standards Board (IASB), at the Singapore Accountancy Convention (SAC) declared the creation of a single set of global accounting standards is no longer achievable.

In the latest report, page 7 includes a comparison among (Circuit City (US), Borders (US), Woolworths (UK,) HMV (UK), Clinton Cards (UK). It states, "The liabilities of these companies range from 7 times to more than 90 times higher than the debt that they reported, when taking into account off balance sheet lease commitments."  Concluding on page 8, "The proposed changes to lease accounting will significantly improve the transparency of information about those off balance sheet leases."

There was discussion of perhaps not including certain small assets, such as laptops and office furniture, equipment that does not have a "long life," but that is perhaps part of the continuing discussion, although a decision may have been made regarding "service" costs. Page 10.

On page 12, "Nonetheless, the boards agree that the objective is not to include service components in lease accounting. Consequently, service components of contracts would be separated from lease
components—thus the new requirements would apply only to lease components. In response to feedback received on the 2013 ED, the boards would allow lessees to use estimates to separate payments between lease and service components in a contract."

Accounting Age estimates there are 1,000 companies listed in both the US and another country that will be using the IASB's International Financial Reporting Standards. Whether there will be a dual role in reporting by this 1000 companies in the United States, meaning one accounting version, will be very interesting to see, as well as which will be more defining for investors of public companies or bankers in evaluating credit lines (or their regulators overlooking their shoulders).

The IASB said it expects to issue a new leasing standard in 2015.

IASB Staff Decisions to date on Leasing  (16 pages)
http://www.ifrs.org/Current-Projects/IASB-Projects/Leases/Documents/Project-Update-Leases-August-2014.pdf

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Leasing Industry Help Wanted
 

 

Collector, Atlanta, GA Experienced, calling 11-90 day delinquent customers, assisting Asset Re-marketer with delinquency reporting, weekly reporting to home office. Sales, Chicago, Atlanta Work out of main office and satellite. Heavy phone sales calling on both independent dealers and end users (cold/warm calling), marketing, weekly reporting to management. Outside territorial salespeople will also be considered. Contact: Michael Testa 312-881-3133 mtesta@secondcityleasing.com www.secondcityleasing.com Financing for Commercial Truck & Trailer, Exotic, High Line, Vintage & Classic Automobiles, Taxi, Livery & Paratransit

 

Leasing Operations Manager San Antonio, Texas Leadership role in building a team focused on credit, documentation and funding functions for a dynamic high growth business operating in both captive and non- captive lift truck markets. Click here for full description. Contact: Monet Pitts, HR Manager mpitts@minercorp.com flexxrl.com Quality Controlled Material Handling Equipment Rent, Finance, or Lease up to 84 months, Maintenace, too.

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.

 

Help Wanted Classified Ads Cost $595 four HTML lines (note, a space is counted as a line) $40 for each additional line or space The classified ad will appear for 21 days. The idea is to attract an applicant to learn more, either to click to a full description on your web site or to a full job description attachment (free, no charge). All "Help Wanted" ads go into the "Help Wanted" classified ad section, which appears in each news edition, and is well read. The ad will also appear on the web site for those who go directly to the web site section. A "Help Wanted" ad appears at the top of the headlines in each edition in a chronological basis with other help wanted ads. The position cannot be purchased. The ad also continues to appear in the classified ad section in the news edition as well as the web site in addition to appearing above the headlines. If there is only one help wanted ad, a display ad may be utilized in the rotation basis as this position, meaning the one help wanted ad is not going to be on top in every edition. Contact kitmenkin@leasingnews.org for more information or to help word a classified ad. Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board

 

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Top Stories August 4--August 8
Opened Most by Readers of Leasing News

(1) Broker’s Responsibility to Obtain
      California Lender’s License
 By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Aug2014/8_08.htm#brokers

(2) New Hires---Promotions in the Leasing Industry
http://leasingnews.org/archives/Aug2014/8_08.htm#hires

(3) Update on Viet Nam Veteran Richard Wilson
          from his wife Rosanne Wilson, CLP, BPB
http://leasingnews.org/archives/Aug2014/8_06.htm#wilson

(4) Archives---August 4, 2006
  Kerhoulas settles California tax issue
http://leasingnews.org/archives/Aug2014/8_04.htm#archives

(5) Top Stories July 28--August 1
Opened Most by Readers of Leasing News

(6) The Real Reason Tiger Woods Will Never Catch Jack  
         Nicklaus
http://leasingnews.org/archives/Aug2014/8_08.htm#tiger

(7) Archives---August 2, 2001
        COO Jeff Allard says, “Goodbye.”
http://leasingnews.org/archives/Aug2014/8_06.htm#archives

(8) Leasing 102 by Mr. Terry Winders, CLP
           Niche Marketplaces
http://leasingnews.org/archives/Aug2014/8_04.htm#niche

(9) Capital Relay Expands “On Line Third Party Origination”
              by Christopher Menkin
http://leasingnews.org/archives/Aug2014/8_04.htm#capital

(10) Ascentium Capital Surpasses $2 Billion
             Credit Application Milestone
http://leasingnews.org/archives/Aug2014/8_08.htm#milestone

 

“Critiquing a Resume”
Career Crossroad---By Emily Fitzpatrick/RII

 

Question: I need to dust off my resume, can you give me some pointers on critiquing it

Answer: You will want to (1) assess how well your resume meets today’s accepted principles and (2) identify areas needing improvement.  Since your resume will receive a 30-second review, it is critical that it makes a fantastic first impression.

You will want to review four main components of your resume
I.       Format
Your resume must be in the correct format, again using today’s accepted principles, e.g.
·         Length
·         Tone/Formality
The standard length for a resume is one to two pages. However, someone with 20+ years of experience, in most cases, will require more than two pages. Additionally, note that a CV (known as a curriculum vitae and is used primarily in academic, medical and scientific circles) is rarely subject to any length rules, and may include MANY pages.

The tone (the language used to describe qualifications, descriptions, etc.…) of your resume must be appropriate for the job level you are targeting and must be consistent throughout the document.

II.    Look
Your resume’s look will make the first impression, e.g.
·         Visual Aspects (must be appealing)
·         Design Elements
Documents should be impressive and suitable in appearance for the position and level you are targeting. It is important that your resume projects a professional image and is free of errors (proofreading is imperative). Other considerations include an easy-to-read style, font style/size, bullets, and line spacing.

III. Content
Your resume should be unique and showcase your expertise, e.g.
·         Value is Immediately Visible
·         Contains High-Impact Statements
In a nutshell, the resume should contain
1.       Summary of Qualifications:  Highlight relevant skills and accomplishments
2.       Titles with Dates and Job Descriptions:  Should showcase challenges, actions and results using action verbs
3.       Achievements:  To capture the reader’s attention quickly, quantifiable data should be positioned at the start of each accomplishment
4.       Education and Training: List education and training relevant to the position types/industries you are targeting
5.       Computer/Technology Skills:  It is important to let employers know that you have up-to-date computer skills
6.       Affiliations/Groups:  List only those relevant to your position/industry target

IV.  Relevance
Your resume must not contain irrelevant information, e.g.
·         Only Relevant Positions are Included
·         Supports Job/Career Targets
Resumes are strategic marketing documents, and every piece of information needs to support your case for the position. Job descriptions can be tailored to emphasize skills and keywords that are most relevant to your target. Furthermore, consider the order and emphasis of accomplishments.

Contact RII if you are interested in receiving either our Resume Worksheet or LinkedIn Profile Worksheet. Email us at info@riirecruit.com or view our website at www.riirecruit.com

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

 

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Late Fees
By Tom McCurnin
Leasing News Legal Editor

 

Be Very Careful Not to Charge More than 10% or “On Top” of Other Late Fees Because All Late Fees Could Be Dismissed

1. Generally, throughout the United States, late fees are an issue of contract law. If the contract is valid, then the amount of the late fees will be upheld.

2. Many lessees argue that the amount of the late fees is unfair, or "unconscionable." Decisions are all over the map on this issue. Suffice to say that I have yet to find a case which says that the typical late fee charge 5-10% of the actual late payment is unconscionable. On larger deals, we try to get an opinion of debtor's counsel and there is a plethora of law that if the borrower has advice of counsel, there can be no unconscionability claim. Two of the cases are Adams v. Adams, 603 S.E.2d 273 (Ga. 2004); Roussalis v. Wyoming Medical Center, Inc., 4 P.3d 209 (Wyo.2000).

3. One Supreme Court case holds that late charges are just another form of interest (this would be applicable only to a lease intended as security) and that if the lender is exempt from usury (National Bank or licensed lender), then any late charge is enforceable. So, in California on a lease intended as security, if the lender is licensed, it would appear that any interest rate should fly. In other states where no commercial contract is subject to usury, then any rate should also be fine.

4. There are a couple of cases out there, most notably Garcia v. Canan 851 F.Supp. 327 (ND Ill. 1994) holding that a 10% late charge on the whole of the delinquent payments (as opposed to a one-time assessment against a single discreet late payment) is a penalty.

Another case I've run into is Leasing Services v. Eastern Equipment 11 B.R. 732 (SD WVa. 1981), an awful case which held that in bankruptcy, the court can strip a lease intended as security down to its components, impute a hypothetical interest figure, back off unearned interest, and back off late charges which are accrued to the overall balance as opposed to a one-time assessment of a single discreet late payment.

The bottom line to this issue, is that while the lease or contract can say whatever you want for late charges, and it may be enforceable, I would not feel comfortable with an amount over 10% of the actual late payment, and I would not want to aggregate the late charges, e.g., 10% of the whole delinquent balance, which is essentially interest on interest.

In addition, if the lease is a loan (lease intended as security) there are very adverse consequences in bankruptcy, with the court having the authority to back off unearned interest and late charges.

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California. 

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com
Previous Tom McCurnin Articles:
http://www.leasingnews.org

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

 

 

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Leasing 102
by Mr. Terry Winders, CLP

Differences of Sales/Finance Contracts and Leasing Contracts

A bargain option lease fails the IRS test and the UCC test for operating lease status. However, for legal purposes, there are differences in the content of the agreements, so it is important to understand that so long as each provision of the agreement does not become “unenforceable” both parties must live up to their respective agreement.

There are three types of transactions that a bargain option lease could be compared to: a loan, a conditional sales contract (CSC), or an equipment finance agreement (EFA). So what are the differences?

A conditional sales contract is a legal contract an exchange of goods, services or property to be exchanged from seller (or vendor) to buyer (or purchaser) for an agreed upon value in money (or money equivalent) paid or the promise to pay same. It is a specific type of legal contract. Contracts for sale involving goods are governed by Article 2 of the Uniform Commercial Code in most United States  and Canadian jurisdictions, however in Quebec such contracts are governed by the Civil Code of Quebec as a nominate contract in the book on the law of obligations.
http://en.wikipedia.org/wiki/Contract_of_sale

An Equipment Finance Agreement is another term for "contract of sale" and most often applies to commercial transactions rather than consumer transactions.

As written about in Leasing News by Attorney Jim Coston, "It is important to consider the financial impact of an EFA as well. Currently, Financial Accounting Standards Board (FASB) Standard 13 establishes standards of financial accounting and reporting for leases by lessees and lessors. For lessees, a lease is a financing transaction called a capital lease if it meets any one of four specified criteria; if not, it is an operating lease. Capital leases are treated as the acquisition of assets and the incurrence of obligations by the lessee. Operating leases are treated as current operating expenses. For lessors, a financing transaction lease is classified as a sales-type, direct financing, or leveraged lease. To be a sales-type, direct financing, or leveraged lease, the lease must meet one of the same criteria used for lessees to classify a lease as a capital lease, in addition to two criteria dealing with future uncertainties. Leveraged leases also have to meet further criteria. These types of leases are recorded as investments under different specifications for each type of lease. Leases not meeting the criteria are considered operating leases and are accounted for like rental property. However, FASB and the International Accounting Standards Board (IASB) will likely revise the current accounting rules so that companies must capitalize assets that have traditionally fallen under the "operating lease" category. If that is the case, EFA’s should be considered more often for use by creditor/lessors." (1)

Another major difference is that in most states, it does not take a lenders license to be in the operating leasing business. However, if you make loans using security agreements, or engage in capital leases with a bargain purchase option, most States require some form of licenses (if you are using your documents. For instance, in California, if you are using the bank's documents, you do not need to have a California Finance Lender's License. (2)

 Conditional sales agreements and equipment finance agreements do vary from State to State.  Many states have "commitment fee" and "advance fee" licensing requirements or lending requirements regarding usury, and the laws may not apply to commercial loans, although many courts have different interpretations today. (2)

The real issue is the question of title. In a Conditional Sales Contract or Equipment Finance Agreement, the title is passed to the debtor and the creditor has a lien on the equipment. Upon payment of any purchase option, the lien is required to be released.   

In operating leases, as well as capital leases, the title remains in the name of the lessor. The lessor, having title, is also responsible for all personal property tax and insurance requirements are different. Leasing contracts may pass on responsibility of tax, insurance, and warranty of equipment issues to the lessee, although these are the full requirement of the debtor in both conditional sales contract and equipment finance agreements. At the end of the term of the contract, there are several options, including the return of equipment, continuation of rent, or purchase, which may be a PUT (purchase upon terms, most often 10%), or fair market value (often with the procedure that this is determined).

In either case, at the termination of the contract, a UCC-3 is utilized to release the lien.  I also recommend issuing a "Bill of Sale."  Many companies have a fee written into their lease contract to cover the cost of the UCC-3 and creating a "Bill of Sale."

There is the issue of keeping the lien active, if the residual or any other amounts owing, are not completed within the 60 month window of the filing.  Of course, you can always renew the filing without the consent of the lessee or borrower before expiration. In many states, you just check a box to renew it.  No need to re-write it. You can even do it online in most states.

 

(1) http://leasingnews.org/archives/Jan2010/1_15.htm#special_report2

(2) http://leasingnews.org/archives/Feb2014/2_10.htm#regulations

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at terrywinders11@yahoo.com or 502-649-0448.
He invites your questions and queries.

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

 

Mr. Terry Winders available as a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry. He is the author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale. 502.649.0448/terrywinders11@yahoo.com

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

Top Eight Sandwich Franchises
QRSmagazine.com

Top 50 Brands Quick Service Industry by QRS Magazine
http://www.qsrmagazine.com/reports/qsr50-2014-top-50-chart

 

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Bank stock performance vs. analyst expectations
SNL Financial Report
By Bhaumik Baxi and Hina Nawaz

Slightly more than half of the public U.S. banks and thrifts in an SNL Financial analysis outperformed analysts' year-ago stock price targets at the end of July. Of the 157 companies included in the analysis, 81 outperformed mean stock price targets set a year ago, while 76 underperformed.

For the purpose of this analysis, SNL tracked U.S.-listed bank and thrift companies with four or more analyst estimates available through FactSet as of July 31, 2013. To determine "outperformance" or "underperformance," SNL then compared the mean price target for each company, based on available one-year price target estimates as of July 31, 2013, to each company's actual closing price on July 31, 2014.

As of July 31, the stock of San Diego-based BofI Holding Inc. was 43.44% above the mean one-year price target from July 2013. This marked the largest outperformance of any of the companies in SNL's analysis. While BofI's stock surpassed analyst expectations, it has dropped considerably since earlier in 2014. BofI's stock closed as high as $105.55 in March, and the company was named the best-performing public thrift of 2013 by SNL. But shares have since sold off and as of July 31 were trading below $80 with elevated short interest. On July 22, the company announced the completion of a $50.0 million at-the-market common stock offering initially commenced in March 2013, and launched a second offering of the same size.

The second-highest outperforming stock, Philadelphia-based Beneficial Mutual Bancorp Inc. (MHC), outstripped its year-ago mean analyst price target by 42.69%. Boenning & Scattergood Inc. analyst Rick Weiss raised his rating on the company to "outperform" in May and increased its price target to $15, with anticipation of a second-stage conversion in the near future.

Bank of New York Mellon Corp., the largest bank by assets among the 20 greatest outperformers, beat analysts' year-ago mean price estimate by 23.84%.

While none of the 'Big Four' U.S. banks made an appearance in the top 20 outperformers, Wells Fargo & Co. and Bank of America Corp. did exceed mean year-ago analyst price targets by 12.34% and 0.97%, respectively.

In contrast, Citigroup Inc. and JPMorgan Chase & Co. fell short of mean year-ago analyst price targets by 17.96% and 7.34%, respectively.

Citi was the largest bank by assets in SNL's list of top 20 underperforming stocks. The bank reported second-quarter net income of $181 million, down from $4.18 billion a year ago after a $3.8 billion pretax charge related to a multibillion-dollar settlement the company reached with regulators.

First BanCorp.'s stock price was approximately 41.26% below analysts' year-ago mean price targets, marking the largest underperformance of any company in the analysis. The San Juan, Puerto Rico-based bank reported net income of $21.2 million for the quarter ended June 30, an improvement over the $122.6 million net loss reported a year earlier. In a statement, CEO Aurelio Alemán-Bermudez cited a challenging environment with slow economic progress as a main factor in the quarter's results.

Guggenheim Securities LLC analyst Taylor Brodarick upgraded First BanCorp. to "buy" from "neutral" on Aug. 6, stating that the company is undervalued in light of its capital position and stable core earnings.

Shares of First BanCorp.'s Puerto Rico peers Doral Financial Corp. and Popular Inc. have also struggled over the last year, posting negative returns of 78.80% and 3.04%, respectively, from the end of July 2013 through July 2014.

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

ALG Forecast: Uptick in New Car Sales Will Create
Lower Used Prices for First Time Since 2008

Used car prices expected to drop 5.2 percent by 2017

SANTA BARBARA, Calif. – Relief for used-car shoppers from record-high prices is finally coming, according to ALG, the auto industry benchmark for future vehicle values and the analytics division of TrueCar. ALG analysts say a wave of newer vehicles has started to flood the secondhand market and will gradually bring resale values in line with what they were before 2008’s economic downturn.

Due to historically poor sales years from 2008-2012, as well as 2009’s “Cash for Clunkers” program that took nearly 700,000 vehicles off U.S. roads, used-vehicle supplies have been limited. However, ALG estimates that June 2014 marked the lowest number of used vehicles available for sale (which also translated to the highest prices) and that the trend is shifting.

Larry Dominique
President, ALG
Vice-President, TrueCar

“The continued strength of new-car sales is increasing the availability of high-quality used cars as shoppers continue to trade in their old vehicles,” said Larry Dominique, president of ALG and executive vice president at TrueCar. “Additionally, because of the popularity of short 24- and 36-month leases, the drought of used-car supply is already starting to subside. As a result, we expect a steady decline in used-vehicle prices.”

By 2017, ALG forecasts the average new vehicle will retain 49.4 percent of its value after three years, in contrast to the 54.6-percent retention recorded for vehicles through June 2014. Furthermore, ALG forecasts the growing supply of used vehicles in the market should ease the industry back to a 46-percent residual average by 2019 – the same as it was before 2008.

“The lower residual values will create a greater gulf between used- and new-vehicle prices, which could steer more consumers to purchase used vehicles,” said Dominique. “Consequently, we expect automakers to increase new-car incentives to keep up their current sales pace.”

The impact of the used-vehicle supply increases is covered in greater detail in ALG’s Industry Report, a macro look at the U.S. economy and other drivers of ALG’s forecast, including gasoline prices, durable goods and interest rates, as well as trends in jobs reports and consumer confidence.

To obtain a copy of the ALG Industry Report, or for more information about ALG and its products, visit www.alg.com.

About ALG

Founded in 1964 and headquartered in Santa Barbara, California, with an office in Toronto, Ontario, ALG is an authority on automotive residual value projections in North America. By analyzing nearly 2,500 vehicle trims each year to assess residual value – which is mainly driven by used car inventory, brand strength, macroeconomic conditions, incentive spending and pricing – ALG provides auto industry and financial services clients with resale insights, forecasts and consulting services about the future vehicle marketplace. ALG, owned by TrueCar, Inc., the negotiation-free car-buying platform, has been publishing residual values for all cars, trucks and SUVs in the U.S. for 50 years and in Canada since 1981. The 2015 Residual Value Awards, honoring new vehicles projected to best maintain their value, will be announced Nov. 17. For more information, visit www.alg.com.

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

John Kenny  Receivables Management • End of Lease Negotiations & Enforcement • Fraud Investigations • Credit Investigations • Asset Searches  • Skip-tracing • Third-party Commercial Collections john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

 

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

2014 Prepaid Card Report Released

CardHub.com released its 2014 Prepaid Card Report, which evaluates the state of the alternative banking market and identifies the best and worst prepaid card offers.

The popularity of prepaid cards has increased dramatically in recent years, as traditional banking costs and lingering distrust of large financial institutions have led folks to explore other options. At the same time, financial institutions have emphasized prepaid offerings in the face of regulations that limit the profitability of checking accounts. Prepaid card deposits are expected to rise to $168.4 billion by 2015.

Some highlights from the report are as follows:

• The annual cost of prepaid card use ranges from nothing to more than $400, emphasizing the importance of selecting the right card for your needs.

• Consumers will find prepaid cards to be 21% more expensive in 2014 than in the previous year.

• Prepaid cards from large banks are up to 87% more affordable than those from smaller institutions.

• Celebrity-founded/endorsed cards are between 33% and 51% more expensive than non-branded prepaid cards.

• As many as 31% of available prepaid card offers lack the features (e.g., online bill pay, free check loading, etc.) needed to meet basic consumer needs.

• The average prepaid card charges 11 different fees.

 

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

2014's Best & Worst Cards
http://www.cardhub.com/edu/prepaid-cards-report/#best-worst

Prepaid Cards Report
http://www.cardhub.com/edu/prepaid-cards-report/

 

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

Labrador Retriever Mix
St. Louis, Missouri  Adopt-a-Dog

Name: Calia
Gender: Female
Breed: Lab/Retriever mix
Size: 50pounds
Age: 3 years

“This cutie is Calia. All it took is one look in her sweet, brown eyes and her foster parents fell head-over-heels in love with this girl. She was rescued off the streets along with her sister, so she’s slowly learning how great humans and home-life can be (she thinks the TV is pretty fascinating, and she especially seems to love drama movies). Calia is a feral dog, which means she’s had limited contact with people until Stray Rescue came along; but she’s already made great progress since her rescue.

“Calia is a very clean, quiet little girl – she’s had no accidents in the house, and she does a good job of whining once or twice to let you know when she needs to go out. She doesn’t even go the bathroom or chew things up when left alone while her foster people are gone. Calia gets along well with other dogs, and although we don’t have cats, she seemed a bit fearful of her guinea pig foster sister, so she’d probably be okay with cats, too.

“She does well on the leash – she calmly follows behind you without pulling. She takes food gently from your hand, and has even started taking her place along with her foster doggy siblings when they gather around to receive treats. Even though we’re still working on building up her confidence, she loves being near her dog and human companions, lying calmly on her bed. With a little time, patience, and lots of hotdogs, this sweetheart will make the perfect couch companion. Really, this dog is something special, don’t let this opportunity pass you by.”

PLEASE NOTE THAT CALIA IS CURRENTLY STAYING AT OUR PINE STREET SHELTER.

PLEASE CHECK STATUS BEFORE FILLING OUT AN APPLICATION TO MAKE SURE THERE IS NOT AN ADOPTION PENDING.

Apply to Adopt:
http://www.strayrescue.org/node/66

Stray Rescue of St. Louis
2320 Pine St
St. Louis, MO 63103-2219
Phone: 314.771.6121

Adoption Form
http://www.hsmo.org/adopt/new-dog-adoption-survey.pdf

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

 

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On Line Equipment Auction List

This is not a list of companies who hold auctions primarily, but those who conduct on line auctions.

asset-auctions.com	Online Auctions – Monthly Sales, Weekly Heavy Equipment Auction Every Tuesday. And Bi-Weekly Auctions From The Tennessee Department Of General Services Every Other Tuesday. Now part of Ritchie Bros. EquipmentOne
auctioneerexpress.com	Tractor, Mower, Dump Truck, Mower, Cutter, 13 Tire Roller
eBay.com	All types of Equipment
eBaymotors.com	Trucks and vehicles
govocon.com	Both live and virtual online auction format, light and heavy equipment for the construction and transportation industry
govliquidation.com	Mostly trucks and related equipment
HeavyEQ.govdeals.com	Heavy Equipment, Truck and Machinery Industry Online Gov't Surplus Auctions - Over 1,000 Government Clients
inplaceauction.com	Caters to lessors, lenders, and bankruptcy trustees, conducting both virtual and live auctions of all types of assets including:  Agricultural, Medical, Industrial, Transportation, Trucks, Construction, Real Estate, etc.  Appraisals - on site and desktop.
ironplanet.com	Cranes, Trailers, Equipment Trucks
motleys.com	Construction Equipment & Trucks
municibid.com	Municibid is an online government auctions website designed specifically for the sale of surplus and forfeited/seized goods directly by the government publicsurplus.com
PentonEquipmentAuctions.com	Specializes in government surplus auctions. Browse by equipment or by specific government auctions.
salvex.com	Salvaged equipment for both re-seller and end user.
tractorhouse.com	Mostly farm equipment
usgovbid.com	Government Online Auctions - Servicing Government Agencies for over a Decade

List of many auction sites for consumer and vehicle:
http://www.100auctionsites.com/

Online auction Top Ten Most Popular Sites
(Primarily for consumers or consumer merchandise)
http://online-auction-sites.toptenreviews.com/

Auction Zip
--primarily consumer
(find auctions anywhere)
http://www.auctionzip.com/

 

  

News Briefs----

Rules prevent solar panels in many states with abundant sunlight
http://www.latimes.com/nation/la-na-no-solar-20140810-story.html#page=1

In UK, Kennett Equipment Leasing acquired by Star Capital Partners
http://www.birminghampost.co.uk/business/finance/kennett-equipment-leasing-acquired-star-7573815 

John Chen's plan to save BlackBerry
http://www.mercurynews.com/michelle-quinn/ci_26303309/quinn-john-chens-plan-save-blackberry

 

Collector, Atlanta, GA Experienced, calling 11-90 day delinquent customers, assisting Asset Re-marketer with delinquency reporting, weekly reporting to home office. Sales, Chicago, Atlanta Work out of main office and satellite. Heavy phone sales calling on both independent dealers and end users (cold/warm calling), marketing, weekly reporting to management. Outside territorial salespeople will also be considered. Contact: Michael Testa 312-881-3133 mtesta@secondcityleasing.com www.secondcityleasing.com Financing for Commercial Truck & Trailer, Exotic, High Line, Vintage & Classic Automobiles, Taxi, Livery & Paratransit

 

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--You May Have Missed It

The 15 most profitable business sectors
http://fortune.com/2014/08/06/15-most-profitable-business-sectors/

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SparkPeople--Live Healthier and Longer

Eating Healthier at the Office
10 Ways to Make Your Workplace Work for Your Diet
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=1778

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Baseball Poem

How It All Started

Anonymous

It all started
when Pedro threw a no-hitter on Opening Day.
Nomar backed him up
with a triple play deep in the hole
and Manny Ramirez smashed
the first of 90 home runs.

Suddenly things got brighter.
Flowers sprang whole from the earth
and the cod swarmed to George's Bank.
The war ended.  U.S. Marines
danced in the streets with handsome Fedayeen.
(Jerry Falwell married them off
while the Pope and the imams cheered.)

Israel and Palestine agreed
to share everything:  beds, cities, streets,
temples and mosques,
falafel and coffee and tea.
Air pollution stopped
along with global warming and gum disease.

The Sox won it all of course,
beating the Yankees in three
and the Yankees in four
and the Yankees in five
(they lost one just to keep the Series alive).
Mia Hamm hit a grand slam
to put it away in the ninth.

Boston exploded with joy.
Babe Ruth signed the game-winning ball
and nobody sold it on E-bay.

That's how it all started.
At least, that's what I recall

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Sports Briefs----

Anquan Boldin Getting Closure In Baltimore
http://my.socialtoaster.com/splash/3485R/

Rory McIlroy proves he can win ugly, regroups for PGA Championship victory
http://sports.yahoo.com/news/rory-mcilroy-proves-he-can-win-ugly--too--while-regrouping-for-pga-championship-victory-041221300.html

Johnny Manziel has made 'a lot of improvement'
http://www.cleveland.com/browns/index.ssf/2014/08/
johnny_manziel_has_gone_from_o.htm

Death Highlights History of Confrontation for Racing, and for Tony Stewart
http://www.nytimes.com/2014/08/11/sports/autoracing/a-death-highlights-racings-history-of-confrontation.html

 

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California Nuts Briefs---

California drought: Lawmakers consider historic rules to limit groundwater pumping
http://www.contracostatimes.com/drought/ci_26307724/california-drought-lawmakers-consider-historic-rules-limit-groundwater

Walt Disney 1950'a House for Sale in Palm Springs, California
http://www.bankrate.com/lite/real-estate/celebrity-house-for-sale-walt-disney-1.aspx?ic_id=outb_26146958

Readers reminisce: What you’ll never see again in S.F
http://blog.sfgate.com/stew/2014/08/04/readers-reminisce-what-youll-never-see-again-in-s-f/#23852103=0&25265101=0

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“Gimme that Wine”

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

Winery audit finds almost half didn't comply with use permits in 2013
http://napavalleyregister.com/news/local/winery-audit-finds-almost-half-didn-t-comply-with-use/article_d2ff2109-bb31-57fb-a7fa-dc46007b119b.html

Pinot Grigio Shortage Could See Consuemrs Opt for other White Wine
http://www.harpers.co.uk/insights/cost-controls/bulk-wine/pinot-grigio-shortage-could-see-consumers-opt-for-other-white-wines/370350.article

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/

Winery Atlas
http://www.carterhouse.com/atlas/\

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