Thursday, December 22, 2011
Owning a Schwab Franchise
######## surrounding the article denotes it is a “press release”
and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.
Crit DeMent Surprise Happy Holiday Greetings
Yes, this was sent by LEAF CEO/President Crit DeMent, as we obviously are on his mailing list---and we do appreciate the good will---and especially the card, and invite you to open it:
Our Salvation Army Kettle Exceeded Goal
$3,675 at Press Time
A last minute appeal to Leasing News readers brought the kettle to over its $2,500 goal… and when John Caulfield of Forum Financial Services, Richardson, saw that we had hit the $1,525 mark, he matched the $1,000 point raised and donated $1,000, as was his challenge to readers.
I greatly appreciate the last minute donations that put us over the top, and the many emails from those who wished continued success and happy holidays.
Thank you all---in our next edition I plan to list those who contributed.
(Please click on kettle)
You can have the donation to your community
At press time, $150
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Note: URL that follows allows you to choose your Country of
Classified Ads---Employment Web Sites
Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.
Here are Open Positions at Leasing Funders/Various Locations
ELFA Reports November Business $6.3 Billion
As predicted in Leasing News (1), the Equipment Leasing and Finance Association MLFI-25 finds November new business volume at $6.3 billion, an increase over October $6 million, better than 2010 at $4.5 billion, but not as good as 2009 $7.1 billion. While the September, 2011 was higher, the trend toward a very good fourth quarter continues, particularly if the spike in December carries through as it has every year of the MFLI-25 report.
“The equipment leasing and finance industry has held its own over the past few quarters and favorably weathered several macroeconomic challenges, " Rick Remiker, President, Huntington Equipment Finance said. "2012 will bring greater opportunities as companies replace aged equipment and invest in newer technology and expanded capacity. And it’s going to be a very Merry Christmas.”
(1) October MFLI-25 Report:
ELFA MLFI-25 Participants
Virgil Akin appointed Manager for the Forth Worth Texas Service Center of Utility Equipment Leasing Corporation, Waukesha, Wisconsin. The Fort Worth Texas Service Center, serving the entire southwestern market including the states of Texas, Louisiana, Arkansas, Oklahoma, Kansas, and Missouri. Previously he was "...Operations Manager and Account Manager for Performance Truck in Rosenberg, Texas, a Kenworth dealer. Earlier he served as Parts Operations manager for Riggs Caterpillar of Little Rock and Texarkana, Arkansas. He served as General Manager of Arkansas Contractors Equipment and Supply in Springdale Arkansas and Service and Parts Manager for Red River Equipment Company of Texarkana, Texas. Virgil is focused on customer satisfaction and looks forward to supporting UELC customers in the southwestern states.” Texarkana College. Texas High School / Texarkana, Texas.
Chris McKinley appoint Vice President Key Equipment Finance Government Finance, Superior, Colorado; working out of Reston, Virginia. Previously he was Business Development, Technology Finance, GE Capital, Commercial Distribution Finance (July, 2008-November, 2011), Lean Six Sigma Black Belt, GE Capital, Commercial Distribution Finance (April, 2006-July, 2008), Regional Sales Manager GE Capital, Commercial Distribution Finance (June, 2003-April, 2006). Kennesaw State University - Michael J. Coles College of Business MBA, Marketing (2001 – 2003).
Gavin Shea appointed senior vice president and term equipment finance manager for Umpqua Bank Commercial Banking Center in Walnut Creek, California; "...where he is charged with leading the bank's leasing and finance portfolio....A 14-year commercial banking veteran, Shea comes to Umpqua Bank from Wells Fargo where he was director of sales, overseeing commercial lending to small- and mid-sized companies throughout the U.S." "Roseburg, OR-based Umpqua Bank is a subsidiary of Umpqua Holdings Corporation with locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada."
Bill Weaver named Principal at Global Capital Markets, Irvine, California. Previously he was Managing Director Investment Bank, Culver Capital Group (October, 2009-December, 2011), Managing Director CRESCO Capital Partners (October, 2005-October, 2009), Senior Partner, Markwood Capital (1991--2005), Business Analyst, Geneva Companies (1989-1991), Lab Tech, Beckman Instruments (1976-1980).Series 79 - Investment Banking Exam FINRA - Financial Industry Regulatory Authority License CRD# 101180,Series 7 - General Securities Representative Exam FINRA - Financial Industry Regulatory Authority, Inc., Series 63 - Uniform State Law FINRA - Financial Industry Regulatory Authority Agents & Brokers: Life and Disability Insurance Analyst, California Department of Insurance Education California State Polytechnic University-Pomona Bio Chemistry
Leasing Industry Help Wanted
For information on placing a help wanted ad, please click here:
Please see our Job Wanted section for possible new employees.
Equipment Lessor Saved by Exculpatory Language
Most leasing professionals know that the lessor never warrants the quality of the equipment it leases, and relies upon waivers contained in the equipment lease. In the case of GE Capital Information Technology Solutions, Inc. v. Campbell Ads Slip Copy, 2011 WL 5835909 (N.D.Ind. 2011), those waivers came into play, and saved the day for the lessor.
In Campbell Ads, the lease was for a very large commercial copier, but regrettably for the lessee, Campbell Ads, the copier never worked as promised out of the box. The lessee stupidly stopped making payments to the lessor, and the lessor sued in District Court. The lessee thought the best defense was a good offense, and filed a Counter-Claim for breach of warranty against the lessor.
The lessor filed a Motion to Dismiss the Counter-Claim, claiming that the waiver of the warranties of merchantability and fitness for a particular purpose were contained in the lease, and therefore, the Counter-Claim was not well taken.
The Court agreed, and dismissed the Counter-Claim.
As for analysis of the decision, the Court did not plow any new ground here, and seemed to quickly reach the correct result. It should be noted that the Court allowed the Counter-Claim as against the supplier. On a practical level, all copiers are sold with a service contract, and unless the supplier was out of business, it was a mystery why the lessee simply didn’t work with the vendor to correct the problems. Since the vendor was Ikon Office Solutions, a national company, it would seem that the Counter-Claim was more of a ploy than a meritorious Counter-Claim.
There are few tips for the leasing professional here, except that waiver of warranties matter is not just boilerplate.
GE Capital Case:
Special Christmas Edition, Part 2
To round up our two-part cinematic Yuletide special, here are five top choices for old and new holiday classics. So check Netflix, gather family and friends, and give yourselves an early Christmas present.
It’s a Wonderful Life
Miracle on 34th Street
A Christmas Story
A Christmas Tale
Happy Holidays form the NAELB Board and Staff
Usually Barry Marks, attorney and Alabama poet, sends in a holiday poem. This time he submits one from his good friend Jim Ferguson:
(with apologies and admiration
My Christmas was indeed a metal pole
© Jim Ferguson 2011
Military This Christmas---Hello, Dashiell & Kimberly
(What does a Navy man do with his Navy Seal girl friend?
We have military all over the world, as well as civilian support, all employees of the government. As I understand it, they are appreciative about the Veteran Administration Hospital being up-dated, cleaned up, benefits for family increased for those on war duty, training and help when back from serving their country, and better weapons and more modern equipment than they had when they first arrived in Iraq and Afghanistan, as well as two helicopters for the Osama Bin Laden operation where only one was recommended, but Obama chose otherwise and said to send two (this was not only in the news, but verified from highly reliable sources).
I missed speaking with my son on his birthday, December 19th, as we generally always talk on the telephone on his birthday. His mother died of cancer when he was coming out of being a teenager, and we became extremely close. Today he sent me an email he was not near a telephone and couldn’t say anymore---and I got an impression he was on another mission. He doesn’t like me to write in Leasing News about what he is doing as he says the enemy reads the internet, and if captured, they could use information about him against him.
But he never said anything about printing his photographs:
I have a lot more photos, but I wish he and his steady girlfriend, and all those who serve our country the best Christmas and holiday and hopefully 2012 will be a lot better than this year.
Cedar Rapids, Iowa-- Adopt-a-Dog
Peanut & Reesie
Medium • Young • Female
Peanut & Reesie
“Peanut and Reesie are adult chocolate labs. They have a genetic condition that causes them to lose their eyesight and have legs that are half the height of labs without their condition. They get around just great and enjoy playing with each other and other dogs, but would prefer a home without cats. Due to their condition they rely on each other quite a bit and are not able to be adopted to separate homes. They are UTD on vaccinations and have both been spayed. If you have room in your heart and home for these sweet dogs, please call us at 319-362-0274. Indoor Homes Only and a Fenced in Yard are required for their safety.”
Peanut & Reesie Last Hope Animal Rescue, Inc., Cedar Rapids, IA • 1-630-544-8482 • Mfrugoli2004@yahoo.com
Adopt-a-Pet by Leasing Co. State/City
Adopt a Pet
U.S. Bank buys $700 million credit portfolio from BofA
Ritchie Bros. final 2011 auction sets new records
Independent Contractors on the Rise
Existing home sales rise
Mortgage activity slides with rates down
Housing bust nearly over as prices, incomes balance
Paying Down Your 30 year Mortgage vs. Refi
U.S. exporters brace for cutbacks in European bank lending
Sun-Times sold to group of local investors
The 10 Worst TV Shows of 2011
Steve Jobs awarded a Grammy
Owning a Schwab Franchise
SparkPeople--Live Healthier and Longer
4 former players suing NFL over concussions
Superbowl moving beyond the tube to the web
S.F., PG&E probe outages at 49ers game
“Every Good Boy Does Fine”
I practiced my cornet in a cold garage
In my first contest, playing a wobbly solo,
At my first basketball game, gangling away from home
In my first football game, the first play under the lights
I took my second chances with less care, but in dreams
You who have always homed your way through passages,
David Wagoner's “Traveling Light :From Collected Poems, 1956-1976
When my kids were growing up, I only had a few rules about participating in different activities: if you started something you had to finish it; if you played you had to do your best; and, you could always quit at the end of the season if you wanted to, it was your choice, not mine. As a result, they both seem to have grown up more confident than I ever was and are both willing to risk many things I never would.
All of us are probably haunted by our failures, but the real failures are those who are afraid to take the chances to do what they really want to do. There's no reason to play football, or participate in one particular activity, but it's a mistake not to play football or participate in a play simply because you're afraid you will fail. Failure is less destructive than not giving life a chance.
Needless to say, I don't consider this poem a failure.
Oakland's Quan doubts city can stop port closure
LA Mayor Calls for Cuts to Offset Occupy LA Costs
“Gimme that Wine”
One third of Bordeaux properties “for sale”
Foppiano family faces off in court
Edgy Wine Names: Message On A Bottle
Wine lovers to profit from falling prices
San Francisco Chronicle Wine Competition Sets New Record
California to smash records as sales surge
Free Mobile Wine Program
Wine Prices by vintage
US/International Wine Events
Leasing News Wine & Spirits Page
This Day in History
1696-Birthday of William Oglethorpe, English general, author and colonizer of Georgia. Founder of the city of Savannah. Oglethorpe was born at London. He died June 30, 1785, at Cranham Hall, Essex, England.
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