Pictures from the Past

1993
Mary Jane Lindholm
The Manifest Group
Marshall, Minnesota
(Former head of Manifest Leasing, Lyon’s Financial,
then Schwans, a food company (www.schwans.com),
sold the company and it became U.S. Bank Manifest Funding Services.)

Today

Photo: La Confrerie de la Chaine Des Rotissuers
Professionnel de la Table Mary Jane Lindholm with Steve
(Chaine is an international food society)
In 1997 she was running a gourmet internet business delivered in 7 states. Website is down, so assume no longer in this business. (www.justaddguests.com)
Linkedin.com states today she is:

Vice Chairman of Independent Banc Shares
Excelsior, Minneapolis

 

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Classified Ads---Legal

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

San Diego , CA 
Experienced in-house corporate, equipment leasing and financial services attorney seeks position as managing or transactional counsel. Willing to relocate.
Cell Phone: 760-533-4058;
Email:marshallrosenberg@gmail.com | Resume

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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Lessor Busted for Use of Floating Forum
Selection Clause
By Tom McCurnin  
Leasing News Legal News Editor   

A Forum Selection Clause Has to be Specific and a Forum Selection Clause Which Says That Venue is Proper Anywhere Lessor or Its Assignee is Located is Unenforceable

U.S. Bank Nat. Ass'n v. San Bernardino Public Employees' Ass'n  2013 WL 6243946 (D.Minn.,2013)

Forum Selection Clauses have been around for about 30 years now, and it always surprises me when a creditor gets busted for using one which isn’t specific.  Here, US Bank had a Forum Selection Clause which basically said that venue was proper anywhere it was or anywhere its assignees might be.  The Court refused to enforce the clause.  The facts follow.

US Bank leased copier equipment to San Bernardino Public Employees Association, which I presume is a public sector union.  It is undisputed that the Lessee was not located anywhere except in San Bernardino County in California.  But when the Lessee defaulted, the Lessor aggressively filed suit in Minnesota.

The Forum Selection Clause read as follows:

“This Agreement shall be deemed fully executed and performed in the state of Lessor or its Assignee's principal place of business and shall be governed by and construed in accordance with its laws. If the Lessor or its Assignee shall bring any judicial proceeding in relation to any matter arising under the Agreement, the You irrevocably agrees that any such matter may be adjudged or determined in any court or courts in the state of the Lessor or its Assignee's principal place of business, or in any court or courts in Your state of residence, or in any other court having jurisdiction over you or your assets, all at the sole election of the Lessor.  You hereby irrevocably submits generally and unconditionally to the jurisdiction of any such court so elected by Lessor in relation to such matters.  You waive trial by jury in any action between us.”
Well that clause says nothing.  The case could be filed anywhere in the world, according to that language. 

While the Court stated that such floating clauses may be enforceable in certain circumstances, the Lessee wisely brought a second motion to transfer the case to the Central District of California for convenience purposes, because the contract was signed there, the Lessee resides there, the equipment is there, and the case could have been brought there.  Based on those evidentiary submissions the District Court correctly transferred the matter to the Central District of California.

What are the lessons here?

•  First, What is the Point of Using a Floating Forum Selection Clause?  I’ve seen more of them turned down, like in this case, than enforced.  Is it because the lessor has an intention of assigning the paper? 

•  Second, If You Use a Floating Forum Selection Clause, Consider Waiving It. Personally, for me, suing in a faraway State, and then having to transfer or domesticate a Judgment doesn’t add much to the litigation, and indeed makes the litigation more time consuming and expensive, as it did here.  The lessor’s equipment is in the home State, the Lessee is located there, and its bank accounts are there.  Why sue 1,500 miles away? 

The bottom line to this case is that it demonstrates the distain the Courts have for floating Forum Selection Clauses.  Don’t use them, and if you have to put them in the lease, waive the requirement. 

US Bank Case
http://www.leasingnews.org/PDF/USBankCase2_2014.pdf

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/Conscious-Top%20Stories/leasing_cases.html 

 

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New Hires—Promotions

 

Linda Brand was hired as Regional Sales Manager for Creekridge Capital’s Technology Sales Team; working out of the Creekridge, Minneapolis office. “She will focus on identifying and managing the sales process for our telecom niche inside the company's technology platform. She has developed partnerships and grown market share within several Fortune 1000 and Fortune 500 accounts. Throughout her career, she has received numerous awards for her outstanding sales leadership and accomplishments.” Previously, she was Global Account Manager - Manufacturing Vertical, Motorola Solutions (July, 2007–July 2014); National Sales Director, Comm-Works, LLC (January, 2003–July, 2007); Regional Account Manager, Wire One Technologies (November, 2001–November, 2002); Director of Sales,
Digital River (January, 2001–July, 2001); Market Manager, Black Box Network Services (1987–2000). Education: St. Catherine University
www.linkedin.com/pub/linda-brand/3/b01/b6b

Jerry Claret was hired by Nations equipment Finance as Senior Vice
President, Sales.  He “…will be responsible for Nation’s lease and loan origination activities in Alabama, Arkansas, Florida, Louisiana, Mississippi and Oklahoma. Jerry has more than 30 years’ experience in the equipment finance industry and prior to joining Nations served as business development manager at ENGS Commercial Finance. He previously held positions at Old Florida National Bank, Equify Financial, People’s United Equipment Finance and CitiCapital Commercial Corporation."

Jacob Cutler was hired as Senior Account Manager at Diversified Capital, Gillette, New Jersey.  “He will be responsible for the development of target markets, with a focus on the medical industry through its Health Care Equipment Funding division, said “ said Bruce Smith, President and owner of Diversified Capital. “We are excited to welcome Jacob back to the US, and as a member of our team. … Originally from the greater Boston Area, Jake has just returned to the United States from the UK where he had a five year career in leasing spanning a wide variety of hard assets, with a focus on technology and medical. Jake’s most recent position was with the Commonwealth Bank of Australia based in London, supporting life cycle management of assets.” Previously he was European Business Development, Equigroup Pty Ltd (Commonwealth Bank of Australia) (August, 2012–May 2014). IT Vendor Finance, Relationship Manager, Syscap (July, 2010–August, 2012). Account Manager Asset Finance and Leasing,
Halo Corporate Finance (September, 2007–March, 2009). Certifications: Celcius Sales Training - 3 Modules, Alun Graves Consultancy Limited. Languages: Spanish. Education: Northeastern University, BSc, Business, Psychology (1997–2000). Rollins College, The Rivers School of Weston, Diploma (1989–1993).
www.linkedin.com/pub/jacob-cutler/21/bb0/326

Mark Duncan, CFA, was hired as Vice President & General Manager, Indirect Finance at Hitachi Capital America Corp., Norwalk, Connecticut. Previously he was Managing Director, Corporate Development / Mergers & Acquisitions, GE Capital (1996–2014);  Investment Analyst, Commercial Lending, GE Capital (1994–1996). Education: Northeastern University - Graduate School of Business Administration, MBA, Finance & Investments. Activities and Societies: Beta Gama Sigma Honor Society. Michigan State University, BA, Marketing, Eli Broad College of Business. CFA Institute (Association for Investment Management and Research). Chartered Financial Analyst Designation, Finance & Investments
www.linkedin.com/in/markcduncan1

Joseph Hall was promoted to Business Development Manager
HOBI International, Dallas, Texas.  He joined the firm as Sales Manager, May, 2012. Prior, he was CEO and Owner, Hallnet LLC (January, 2009–April, 2012); Portfolio Manager, TIP Capital (April, 2007–January, 2009); Asset Manager, CIT Business Technology / CIT Systems Leasing (January, 2001–January, 2006); Portfolio Manager, Comdisco (February, 1999–April, 2001); Portfolio Manager, Independent third party leasing company (January, 1998–January, 2001); Portfolio Manager, EDS (1991–1994); Sales Manager / Product Manager, Source Telecommunications (January, 1985–January, 1991); Lobbyist / General Manager, Warner Cable Communications (January, 1979–January, 1985). Education: University of Cincinnati, MS, Social Welfare Administration (1975–1976). Activities and Societies: Recipient of US Dept. of Health and Human Services Teaching Assistantship: helped to finance my graduate degree. The Ohio State University, BS, Social Work (1969–1973). Activities and Societies: Elected to Sphinx Senior Honorary President of Union Activities Board, Evans Scholar recipient: 4 year academic scholarship. The Ohio State University, Bachelor of Science, Social Work. University of Cincinnati, Master, Social Work Federal Health and Human Services Full Scholarship
www.linkedin.com/pub/joseph-hall/a/268/733

Matt LeSage was promoted to new chief commercial officer at GE Capital Equipment Finance.  He joined GE Capital in 2009 and last position was Managing Director, Vendor Finance, Dallas, Texas. Prior he was VP Direct Marketing, Genworth Financial (February, 2003–March, 2006). He is on the board of the Equipment Leasing and Finance Foundation. Education: University of California - Berkeley, MBA (September, 2001–May 2003); University of Michigan - Ann Arbor, BBA (September, 1989–May, 1993).
www.linkedin.com/pub/matt-lesage/1/234/8b

David Menuck was promoted to Equipment Finance Territory Manager - AVP at Wells Fargo, Greater San Diego Area, California.  He joined Wells Fargo, April, 2013, as Business Development Officer - Business Banking Group. Prior, he was Senior Account Manager, American Capital Group Inc. (January, 1999–March, 2012). Honors & Awards: Top Performer Recognition Award - Q2 2013; Top Performer Recognition Award - Q1 2014. Education: University of Arizona (1992–1997). Torrey Pines High School (1989–1992)
www.linkedin.com/pub/david-menuck/6/b29/667 

Tiger Ogawa promoted to President at Century Tokyo Leasing (USA) Inc, Purchase, New York.  He joined the company, October, 2002, and previously was SVP and National Marketing Director. Managing Director at Century Tokyo Capital (Malaysia) Sdn. Bhd.
www.linkedin.com/pub/tiger-ogawa/10/a60/736

Paul J. Phillips was hired as Business Development Manager at Windset Capital Corporation, Riverton, Utah. Previously he was Regional Marketing Manager, Pawnee Leasing Corporation (March, 2009–June, 2014); Operations Director/ Sales, First Pacific Funding (2006–2009).
www.linkedin.com/pub/paul-j-phillips/1a/741/37

Paul Poljak was hired as VP Commercial Leasing Manager at NexTier Leasing, Butler, Pennsylvania, to start a new leasing division to support the branch system and vendor base; based in Pittsburg, Pennsylvania.  Previously he was Managing Director, Allegheny Valley Bank (2008–2014); SVP, Pennsylvania Capital Bank (1996–2000).Education: Robert Morris University
www.linkedin.com/pub/paul-poljak/1b/294/763 

Scott Rafkin was appointed President of Volvo Financial Services, VFS. He is currently the acting President of VFS, and was prior to that Chief Financial Officer, CFO, of the same company. Scott Rafkin has held various senior positions within VFS since 2001, and has been the acting President since January 2014, when he replaced the previous President Martin Weissburg. He has over 17 years financial services experience and an extensive in-depth knowledge of the transportation and equipment finance industry. He lives in the U.S.  Education: University of Massachusetts at Amherst - Isenberg School of Management, Bachelor of Business Administration (BBA), Accounting and Finance, Magna Cum Laude (1987–1991).
www.linkedin.com/pub/scott-rafkin/82/985/a99

Sam Wetmore was hired as District Manager at Equify, LLC.,
Fleming Island, Florida.  Prior, he was President, Crosswicks Financial Group, Inc. (February, 2012–Present). Credit/Special Projects Manager, Jacksonville Crane & Machinery, LTD. (October, 2009–March, 2012); Regional Sales Manager, LEAF Financial Corporation (March, 2008–September, 2009); Territory Manager, Wells Fargo Construction (January, 2007–March, 2008); Territory Manager, Commercial Credit Group Inc. (June, 2005–January, 2007); Finance Manager, MD Moody & Sons, Inc. (September, 2000–May, 2005); Vice President of Sales, Orix Credit Alliance (February, 1985–September, 2000). Volunteer, Wounded Warrior Project (January, 2012)
www.linkedin.com/pub/sam-wetmore/15/984/77a

 

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

 

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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Two Day Institute to Become CLP
   Four Sessions Available This Year

The Institute for Leasing Professionals (ILP) is a not-for-profit educational outreach of the National Equipment Finance Association. The Institute for Leasing Professionals 2 day program is a comprehensive education program designed by equipment leasing and financing professionals. It is a 16-module course that covers the most important subjects in the equipment leasing and financing profession.

Chicago ILP: July 23-24th
Location: ECS Financial Services
CLP Exam: July 25th
Information:
http://www.leasingnews.org/PDF/ChicagoLPCourse_2014.pdf

California ILP: August 8-9th
Location: Banc of California
CLP Exam: August 10th
Information:
http://www.leasingnews.org/PDF/SouthernCaliforniaLPCourse_2014.pdf

Washington ILP: August 12-13th
Location: Financial Pacific Leasing
CLP Exam: August 14th
Information:
http://www.leasingnews.org/PDF/WashingtonLPCourse_2014.pdf

Maryland ILP: October 10-11th
Location: FSG Capital
CLP Exam: October 12th
Information:
http://www.leasingnews.org/PDF/MarylandLPCourse_2014.pdf

 

For additional Information:
Reid Raykovich, CLP - Executive Director
(206) 535-6281 - direct
reid@clpfoundation.org

 

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)

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More than 40% of U.S. households are now wireless-only
by Phil Goldstein,  Fiercewireless.com

Americans continue to ditch their landline service in favor of wireless, according to a new survey from the Centers for Disease Control and Prevention. However, the rate of which U.S. households are eliminating landline service has slowed down from recent years, the data shows.

According to CDC's National Center for Health Statistics, in the second half of 2013, 41 percent of U.S. households relied solely on a wireless phone. That figure is up from 38.2 percent in the second half of 2012, 34 percent in the second half of 2011 and 29.7 percent in the second half of 2010.

However, the rate of landline loss is slowing. As the Pew Research Center notes, the share of wireless-only households increased just 2.8 percentage points from the same period in 2012. In 2010, the share of wireless-only households grew by 5.2 percentage points; 4.3 percentage points in 2011; and 4.2 percentage points in 2012.

The wireless-only households surveyed in the second half of 2013 included 93 million adults and nearly 35 million children, according to the survey.

More people are expected join the wireless-only segment of the population. The CDC study found that 16.1 percent of U.S. households described themselves as being "wireless-mostly." That designation means that even though the household has a landline phone, "all or almost all" of their calls are received on a wireless phone.

Young adults are the most likely to be living without a landline. Nearly two-thirds (65.7 percent) of 25- to 29-year-olds, 59.7 percent of 30- to 34-year-olds, and 53 percent of 18- to 24-year-olds live in wireless-only households, according to the CDC. However, as Pew points out, those percentages have not really budged, and in some cases are even below, those recorded in the first half of 2013.

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Profit Analyst Course Available by Open Advance
Steve Chriest’s Selling Up Now Part of Open Advance

Bank Branch Closures Hitting Suburbs Hardest

As banks close branches in the face of secular pressures, they often point to redundant nearby branches that will continue to serve the community; however, net branch closures since 2010 appear to be more concentrated in the spread-out suburban areas.

Bank of America Corp. has openly acknowledged it will favor retention of urban branches while closing others in more rural locations. To test whether industry peers seem to be following the trend, SNL took a look at the largest U.S. metropolitan areas across the country, finding that branch closures have been more likely to hit suburban communities.

The metropolitan statistical area to see the most net branch closures since 2010 is the Chicago-Naperville-Elgin, IL-IN-WI, MSA. Closures in the metro were more likely to occur on the suburban outskirts. In fact, while the metro area overall led the nation in net branch closures, some neighborhoods in the urban core saw net gains in branches, particularly the area often referred to as the Loop, sandwiched between I-90 and Lake Michigan.

TCF Financial Corp. helped push the Chicago metro area to the top of the net closures list when the bank announced in December 2013 that it would close 37 bank branches located inside Jewel-Osco grocery stores. The move follows an industrywide trend of banks slashing locations, including in-store branches as well as the overall branch footprint.

Mark Goldman, a TCF spokesman, told SNL that the bank is not pursuing an urbanization strategy similar to Bank of America's. Also, Goldman said the bank is deeply committed to the Chicago market, noting "tremendous growth," and that he could not offer specifics on how the bank decided which branches to close.

"We concluded that even with additional products and services, the branches we closed were not going to provide TCF with a reasonable rate of return. And the vast majority of them had another TCF branch very close by, geographically," Goldman said.

Full report and analysis here:  http://www.snl.com/InteractiveX/Article.aspx?cdid=A-28572010-13617

 

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 ############################

Signature Bank New Specialty Finance Markets
Through its Signature Financial LLC Subsidiary

Bank’s Specialty Finance Subsidiary Launches National Franchise and Commercial Marine Financing Business Lines

NEW YORK--Signature Bank (Nasdaq: SBNY), a New York-based full service commercial bank, announced that its specialty finance subsidiary, Signature Financial LLC, will begin offering direct finance services for both the franchise and commercial marine industries on a national basis.

Signature Financial’s franchise business will provide financing to franchise operators across a variety of national and regional restaurant concepts and chains, such as those engaged in fast-casual and family-oriented restaurant businesses.

Its commercial marine unit will specialize in the financing of commercial vessels, including supply ships, tug boats, barges and commercial passenger transport vessels.

Heading efforts for the franchise business is John R. Black, a franchise financing expert with 33 years of industry-related experience. In his new role as National Franchise Finance Manager, Black will be responsible for loan origination, strategy and direction of Signature Financial’s franchise finance business.

Before joining Signature Financial, Black served as Vice President - Business Development Officer for BankUnited in Miami where he handled franchise lending, primarily for fast-food restaurants. Throughout his career, he held a range of positions at Sovereign Bank, Imperial Capital Bank and Safeco Credit Co., all focused on franchise financing. During his 13-year tenure at Safeco, he was the leading originator of franchise financing loans. Black also was Vice President – Marketing for NFA Restaurant Finance and earlier in his career, spent nearly 10 years at Westinghouse Corp., in a range of credit-related roles.

Supporting Black is Thomas E. Eylander, who was named Senior Risk Underwriting Manager for franchise finance. Eylander, with 35 years of related experience, most recently served as Senior Credit Analyst/Senior Underwriter at Pacific Continental Bank. He also held credit/loan administration roles at United Grocers, Inc. and Associated Grocers, Inc. Eylander spent 22 years at Safeco serving in a range of credit management and analyst roles, including working with Black in the franchise finance sector as Senior Risk Officer.

Richard J. Paine, Sr. was appointed National Marine Sales Manager for Signature Financial’s new commercial marine finance initiative. In this capacity, he will lead Signature Financial’s direct commercial marine business development efforts and aid in the development of the new unit’s strategic direction. Paine brings more than 20 years of marine lending expertise to his new position. Most recently, he was National Finance Manager in the Commercial Marine Group at TCF Equipment Finance, Inc., where he started the company’s specialized maritime and transportation group, targeting shipbuilders, operators, service providers and vessel owners. Additionally, Paine created the marine lending initiative at Key Equipment Finance, a division of KeyBank Corp. He also held other finance and business development roles at CitiCapital, General Electric Commercial Corp., and Debis Financial Services, Inc., a division of Daimler Chrysler.

Joseph DePaolo
President and CEO
Signature Banki

“During the past several years, we have demonstrated and carefully pursued our interest in entering into complementary business lines that strengthen our offerings, as evidenced by the successful launch of Signature Financial in 2012 which has originated in excess of $2 billion in loans and leases. Our entrance into the specialty finance arenas for both the franchise and marine markets is another example of this strategy, and represents our commitment to seize relevant opportunities to provide clients a comprehensive portfolio of products and services. These initiatives will further strengthen Signature Bank’s already strong balance sheet through the diversification of our lending businesses,” explained Joseph J. DePaolo, President and Chief Executive Officer of Signature Bank.

Walter Rabin
President, CEO
Signature Financial

“This is an exciting endeavor for Signature Financial and Signature Bank, as we extend our specialty finance expertise into additional thriving industries. Since identifying significant opportunities within both the franchise and marine sectors, we are pleased to have attracted talented professionals like John, Richard and Tom to lead Signature Financial’s expansion in these two specialty areas. We welcome these industry-leading veterans to the Signature Financial team, and look forward to bringing their lending expertise to our Company and to the new clients we will be serving,” commented Walter Rabin, President and Chief Executive Officer at Signature Financial.

Black, a resident of Arlington, Texas, speaks often about franchise lending, and is a recognized industry resource. He holds a Bachelor of Arts Degree in Business Administration–Finance from the University of Georgia.

Paine resides in Island Park, N.Y. and will work from Signature Financial’s Melville, Long Island, N.Y. offices. He writes about the commercial marine business for industry trade publications and also is a speaker and moderator on relevant subject matter. He is a member of the Passenger Vessel Association and the American Waterways Operations, and former member of Society of Naval Architects and Marine Engineers. Eylander, a resident of Mill Creek, Wash., earned both his Bachelor’s degree in Business Administration and a Master’s degree in Business Administration from Pacific Lutheran University in Tacoma, Wash.

About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 27 private client offices throughout the New York metropolitan area. The Bank’s growing network of private client banking teams serves the needs of privately owned businesses, their owners and senior managers.

Signature Bank offers a wide variety of business and personal banking products and services. The Bank operates Signature Financial, LLC, a specialty finance subsidiary focused on equipment finance and leasing, transportation financing and taxi medallion financing. Investment, brokerage, asset management and insurance products and services are offered through the Bank’s subsidiary, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC.

Since commencing operations in May 2001, the Bank has grown to $23.1 billion in assets, $18.3 billion in deposits, $1.91 billion in equity capital and $1.99 billion in other assets under management as of March 31, 2014. Signature Bank's Tier 1 and risk-based capital ratios are significantly above the levels required to be considered well capitalized.

Signature Bank's 27 offices are located in: Manhattan (9) - 261 Madison Avenue; 300 Park Avenue; 71 Broadway; 565 Fifth Avenue; 950 Third Avenue; 200 Park Avenue South; 1020 Madison Avenue; 50 West 57th Street and 2 Penn Plaza. Brooklyn (3) - 26 Court Street; 97 Broadway and 6321 New Utrecht Avenue. Westchester (2) - 1C Quaker Ridge Road, New Rochelle and 360 Hamilton Avenue, White Plains. Long Island (7) - 1225 Franklin Avenue, Garden City; 53 North Park Avenue, Rockville Centre; 68 South Service Road, Melville; 923 Broadway, Woodmere; 40 Cuttermill Road, Great Neck; 100 Jericho Quadrangle, Jericho and 360 Motor Parkway, Hauppauge. Queens (3) –36-36 33rd Street, Long Island City; 78-27 37th Avenue, Jackson Heights and 8936 Sutphin Blvd., Jamaica. Bronx (1) - 421 Hunts Point Avenue, Bronx. Staten Island (2) - 2066 Hylan Blvd. and 1688 Victory Blvd.

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BB&T Equipment Finance Corporation and Wells Fargo Equipment Finance, Inc. to Receive ELFA’s
2014 Operations & Technology Excellence Award

 

Washington, D.C. — The Equipment Leasing and Finance Association (ELFA) announces that its 2014 Operations and Technology Excellence Award will go to two companies: BB&T Equipment Finance Corporation and Wells Fargo Equipment Finance, Inc. The winners were selected by a subcommittee of ELFA members and will be showcased during ELFA’s Operations and Technology Conference, Sept. 8-9 at the Westin Buckhead in Atlanta, Ga.

Deborah Reuben
Founder/ Consultant
Reuben Creative, LLC

“Both BB&T Equipment Finance Corporation and Wells Fargo Equipment Finance took on the difficult challenge of modernizing and transforming legacy business processes and technology to establish a firm foundation for continued growth in an ever-changing business environment,” said Deborah Reuben, Founder of Reuben Creative, LLC, and Committee Chair for the award. “Both winners are inspiring examples of the innovative spirit of the ELFA Operations and Technology Excellence Award. We look forward to hearing stories from both winners at the ELFA Operations & Technology Conference in September."

William G. Sutton, CAE
ELFA President/CEO

“ELFA is pleased to showcase innovative uses of technology in the equipment finance industry,” said William G. Sutton, CAE, ELFA President and CEO. “The best practices demonstrated by BB&T Equipment Finance Corporation and Wells Fargo Equipment Finance, Inc. serve as models on the effective use of technology in our industry, and further demonstrate how ELFA members are ‘Equipping Business for Success.’”

BB&T Equipment Finance Corporation is recognized for their impressive and challenging business reinvention initiative, which included the implementation of a new end-to-end leasing technology platform. More than a system implementation, through this project BB&T, working with Odessa Technologies, Inc., radically changed their entire operation end-to-end to establish a foundation to support new market focus and aggressive growth goals. The project illustrates how technology coupled with creative operational management can serve as a framework for dramatic business transformation.

Wells Fargo Equipment Finance, Inc. is recognized for their outstanding execution of a sophisticated and highly complex initiative to convert and integrate two completely different small-ticket businesses. Each business had different legacy systems and processes, which were integrated onto a single technology platform with minimal disruption. By using creative implementation methods, maintaining high levels of collaboration with business and solution partner International Decisions Systems, Inc., and retooling their project management approach, they implemented an end-to-end solution and achieved record earnings in both businesses during the year the integration took place, exceeding even their own expectations.

The Operations and Technology Excellence Award identifies and recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI. The program brings the backroom to the foreground, spotlighting the best in the industry as an example for others.

Previous Operations and Technology Excellence Award winners include:

• 2013: TCF Equipment Finance, Inc. and SunPower Corporation.
• 2012: LEAF Commercial Capital, Inc. and AIG Commercial Asset Finance
• 2011: First American Equipment Finance and ICON Capital Corporation
• 2010: Winthrop Resources Corporation
• 2009: Key Equipment Finance, PHH Arval
• 2008: Orion First Financial LLC, Trinity Industries Leasing Co.
• 2007: TCF Equipment Finance, California First National Bancorp, and Xerox Capital Services
• 2006: Farm Credit Leasing
• 2005: Styx Capital, Relational LLC
• 2004: Cisco Systems Capital Corporation
• 2003: AgStar Financial Services, National Leasing Group
• 2002: ABB Financial Services, IBM Global Financing, Caterpillar Financial Services Corporation

For information about the 2014 ELFA Operations and Technology Conference, Sept. 8-9 in Atlanta, Ga., go to www.elfaonline.org/events/2014/OTC/.

About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $827 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.

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July 11 Annual Collector Car Appreciation Day
at Tacoma, Wash. LeMay – America’s Car Museum

TACOMA, Wash.) – LeMay – America’s Car Museum, with more than 300 classic vehicles in its four-level, 165,000 sq. ft. facility in Tacoma, Wash., celebrates this country’s love affair with the automobile and its impact on American culture 365 days a year.  On July 11, an even brighter national spotlight is directed on the USA’s 100-year-plus passion for automobiles when the fifth annual Collector Car Appreciation Day is observed.

“Collector cars are rolling pieces of history, infused with craftsmanship, engineering and art – many of which were designed without the luxury of a computer,” said Renée Crist, collections manager of ACM. “We’re excited there’s a special day devoted to these vehicles that highlights how a collector car can speak to an era and give context to how people lived in the past. In fact, many current ACM exhibits are perfect examples, including ‘Masters of Mustang,’ ‘Route 66’ and ‘Custom Coachwork.’”

Collector Car Appreciation Day, which draws awareness to the collector car hobby and preserving vehicles from the past, was established in 2010 through a bill co-sponsored by Sen. Jon Tester (D-MT) and Sen. Richard Burr (R-NC), both automotive enthusiasts and strong advocates for the collector car hobby.

“ACM and Collector Car Appreciation Day tell a story not just about cars, but of history and how our four-wheeled passion has shaped the American way of life,” says Crist. “Driving a car has always been a source of freedom and entertainment, which ACM and automotive enthusiasts around the country celebrate July 11.”

About LeMay – America’s Car Museum (www.lemaymuseum.org)
LeMay – America’s Car Museum, which opened in June 2012 in Tacoma, Wash., explores how the automobile has fulfilled a distinctive role at the core of the American experience and shaped our society. The four-level, 165,000 sq. ft. Museum with rotating exhibits is designed to be the centerpiece for automotive history as well as an educational center and library. The campus, offering a majestic view above the Foss Waterway is located adjacent to the Tacoma Dome and contains a 3.5-acre show field, theatre, café, banquet hall and meeting facilities. To get information on Museum hours, becoming an ACM member, volunteer opportunities or to make a donation, visit www.lemaymuseum.org.

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

Labrador Retriever Mix
Tacoma, Washington  Adopt-a-Dog

SCOUT - ID#A487563
Breed: Labrador Retriever mix
Gender: Neutered Male
Size: Medium
Age: 1 year, 7 months
Color: Gold
Location: 031

Shelter Staff made the following comments about this animal:
"Hi, my name is SCOUT and I would love to meet you. I am a Neutered Male Labrador Retriever mix. The shelter staff thinks I am about 1 year and 7 months old. I have been at the shelter since Jun 26, 2014."

For more information about this animal, call:
Humane Society for Tacoma and Pierce County at (253) 383-2733
Ask for information about animal ID number A487563

Humane Society for Tacoma and Pierce County
2608 Center Street
Tacoma, WA 98409
(253) 383-2733

adoption hours
Mon-Tue-Wed: 9:30 am - 5:30 pm
Thursday: 11:00 am - 5:30 pm
Friday: 9:30 am - 5:30 pm
Saturday: 9:00 am - 4:30 pm
Sunday: Closed

http://www.thehumanesociety.org/about-us/

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

 

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Leasing Conference Updates---Early Bird Discounts
Reserve Your Hotel Now Before Sell Out

 

September 4-6
2014 Eastern Regional Meeting
Lord Baltimore Hotel
Baltimore, MD

September 10-12
Canadian Finance and Leasing Association
The Fairmont Chateau Whistler
Whistler, British Columbia

Registration now Open, Program Available
http://www.cfla-acfl.ca/events/cfla-annual-conference-2014/

 

September 18-20

Hyatt Regency San Antonio Riverwalk
123 Losoya Street
San Antonio, Texas  78205
United States

Event Schedule
http://www.nefassociation.org/events/Sessions.aspx?id=387999

Event Registration
https://nefassociation.site-ym.com/events/register.aspx?id=387999&itemid=bb564651-1581-4b73-80f0-0894716338dc 

 

September 19 - 20, 2014
Tianjin, China
Sudhir Amembal: 
The First Global Leasing Industry Competitiveness Forum
For More Information:
kelly@amembalandassociates.com

Qualified leasing professionals from outside of China will not be charged any registration fees. They are, however, expected to pay for all their travel expenses including accommodations and meals at the venue.

From the Chinese side, the speakers will include prominent leasing company executives and supportive governmental representatives; from the international side, the speakers will be drawn from senior executives from leading leasing companies and others who have played a vital role in leasing's international growth.

More Information about the Conference free to those attending from outside China:
China Forum PDF

 

October 9 -10
Eurostars Grand Marina
Barcelona, Spain

Booking of rooms at the Grand Marina is to be done by filling in a Hotel Reservation Form, which can be downloaded from the Annual Convention website at:
http://www.annual-convention.eu/index.php?page=accommodation

Last year's event was a resounding success with more than 500 participants from across Europe as well from Australia, Canada, China, Morocco, South Korea and the USA.

Registration/Further Information:
http://www.annual-convention.eu/

October 19-21
2014 53rd Annual Convention
Manchester Grand Hyatt
San Diego, CA

Early Bird Registration Now Open
http://www.elfaonline.org/events/2014/ac/reg.cfm

 

Cosmopolitan, Las Vegas, Nevada

 It will bring together critical decision makers concerning credit and collections 
from all facets of financial services.

Agenda
http://www.collectionscreditrisk.com/conferences/fscc/agenda_preview.html

Registration
http://www.collectionscreditrisk.com/conferences/fscc/reginfo.html

November 5-7
34th Annual AGLF Fall Conference
Loews Ventana Canyon
Tucson, Arizona

November 6 - 8
2014 Western Regional Meeting
Hyatt Regency Irvine
Irvine, CA

 

November 11-13

The 2014 Middle East Leasing Summit to be held November 11-13 at the JW Marriott Marquis Hotel Dubai is reported to be strongly supported by leading leasing companies and international leasing association. 

This summit will gather regional government officials, vendor representatives, national organizations and industry leaders to interpret the air finance from the aspect of market situation, regulatory, growth point and second hand aircraft to better understand Middle East air finance market.

The conference promises "Deep insight into Middle East leasing market climate with introduction of Islamic Finance’s application and banks’ involvement. There is no doubt that this summit will provide a premier platform for its delegates to establish strategic cooperative partnerships, expand business. We firmly believe that your outstanding industrial background and broad knowledge would contribute significantly to the quality and scope of this
summit."

For more information, please visit the official website at
http://www.duxes-events.com/LeaseME/

November 12 - 14
Commercial Finance Association
70th Annual Convention
Washington Marriott Wardman Park
Washington, D.C.

 

November 16 -17
NJ Expo Regional
Teaneck, New Jersey
(Sunday evening- All Day Monday)

 

November 18 - 21, 2014
Istanbul, Turkey
The Third Annual Operating Lease Conference

"Three prominent and qualified speakers have been added to the agenda.
They are: Stephan van Beek, Senior Director Sales & Marketing Development - EMEA, Oracle Financing, an expert on software leasing; Arnaldo Rodriguez, President – International Division, CSI Leasing, who is the epitome of having successfully globalized the product; and, Esteban Gaviria, CEO, Leasing Bancolombia, who leads the most successful bank-held operating leasing company in Latin America. I will chair the conference and also teach a two-day seminar preceding the conference."
          Sudhir Amembal

For More Information:
kelly@amembalandassociates.com

CFA Related Conferences
http://www.leasingnews.org/PDF/CFAConferences_2014.pdf

CFA Network Calendar
http://www.leasingnews.org/PDF/CFAEventsCalendar_2014.pdf

ELFA ---2014 Schedule of Conferences, Workshops
and e-Learning Opportunities
http://www.leasingnews.org/PDF/ELFA2014ScheduleInfo_1212014.pdf

 

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Fernando's View
By Fernando F. Croc

Winning drama ("Begin Again") and provocative action ("Snowpiercer") make a contrasting double-bill at theaters, while DVD releases offer whimsical fantasy ("The Grand Budapest Hotel"), a poignant family portrait ("Like Father Like Son") and an underrated classic ("Caught").

In Theaters:

Begin Again (The Weinstein Company): Acclaimed Irish filmmaker John Carney ("Once") serves up another melodically soulful drama with this engaging study of romance among songwriters. Mark Ruffalo stars as Dan, a New York record-label executive who, at the end of a very bad day, meets nonprofessional guitar player Greta (Keira Knightley). Going through a rough period of her following a breakup with her much more successful boyfriend (Adam Levine, of Maroon 5), Greta takes to singing in hopes of creating a name for herself. Impressed with her raw talent, Dan takes her under his wing, causing further tension with his daughter (Hailee Steinfeld) and ex-wife (Catherine Keener). Tackling such topics as relationships, family and creativity with an emotional, sincere touch, Carney's movie is a joyous breeze in a season of muggy releases.

Snowpiercer (The Weinstein Company): The man behind such unique films as "Memories of Murder" and "The Host," Korean filmmaker Bong Joon-ho makes his English-language debut with this ferocious science-fiction adventure. Set in the near future following an experiment that leaves only a handful of human survivors , the story takes place mainly inside the Snowpiercer, a train slicing its way through the frozen planet. Inside this metallic behemoth, a class system emerges, with the aristocracy installed at the front and the poor banished to the caboose. Tired of injustice, Curtis (Chris Evans) leads a rebellion against elite leader Mason (Tilda Swinton), creating an armed revolution that spreads from car to car in brutal spurts. With a cast that also includes Ed Harris and John Hurt, Bong creates a trenchant and kinetic political microcosm that's both exciting and thought-provoking.

Netflix Tip: "Snowpiercer" is scarcely the first time an acclaimed international filmmaker tried his hand at the Hollywood game. So check out Netflix for illustrious earlier cases like Fritz Lang's "Fury" (1936), Roman Polanski's "Rosemary's Baby" (1968), Michelangelo Antonioni's "Zabriskie Point" (1970), and Wong Kar-wai's "Blueberry Nights" (2007).

On DVD:

The Grand Budapest Hotel (Fox): One of current cinema's most meticulous eccentrics, Wes Anderson ("Moonrise Kingdom") is back with another set of colorful characters and locations. Taking place in an imaginary country in Europe, the film chronicles a teeming array of intersecting lives at the titular hotel, a once-majestic place now relegated to glorious memories and tall tales. Telling his story to a writer (Jude Law), the hotel owner Zero Moustafa (F. Murray Abraham) remembers his days as a young lobby boy (Tony Revolori). As the protégé of charming concierge Gustave (Ralph Fiennes), Zero gets tangled in a wild web of priceless paintings, imperial conspiracy, and romance. With an all-star cast and an endless display of Anderson's trademark visual inventiveness, this gorgeous comic fantasy should be a delight to fans of the director's distinctive cinematic stamp.

Like Father Like Son (Sundance Selects): A filmmaker with an alert eye and a delicate touch, Japanese director Hirokazu Koreeda ("Nobody Knows") focuses on the spaces between childhood and adulthood, kids and parents, innocence and experience. In this drama, he continues to study his troubled characters with serene empathy. The story focuses on a hard-working businessman (Masaharu Fukuyama) whose life is profoundly shaken when he learns that his son is not really his, the result of a mix-up at the hospital six years ago. But how will the arrival of his real biological son affect his relationship to the child he and his wife have been raising as their own flesh and blood? Though the plot sounds like a made-for-TV melodrama, Koreeda's gentle, warm approach fills the poignant happenings with humor, and charm. With subtitles.

Caught (Olive Films): A dazzling stylist responsible for many masterpieces ("Le Plaisir," "The Earrings of Madame de"), German director Max Ophuls spend some fascinating years in Hollywood. Among his works there was this trenchant 1949 drama, which has film noir elements but endures most as a devastating portrayal of troubled relationships. Barbara Bel Geddes stars as Leonora, a young model who believes she's making her dreams come true when she marries Smith (Robert Ryan), a Long Island millionaire who caters to her every whim. Unfortunately, he soon reveals himself to be paranoid, jealous and cruel, and Leonora becomes a prisoner of the luxury she once yearned for. Can her love for a struggling doctor (James Mason) free her? Featuring Ophuls' trademark elegant camerawork and a trio of remarkable central performances, this is top-drawer cinema that deserves to be rediscovered.

  

News Briefs----

U.S. Jobless Claims Fall to Lowest Level Since Before Recession
http://www.nytimes.com/2014/07/11/business/economy/us-jobless-claims-fall-to-lowest-level-since-before-recession.html?ref=business

What job growth? Mortgages hardly budge
http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx?ic_id=Top_Stories_link_1

GE Capital See Farmers Considering Equipment Upgrades
 ---After Late Spring Season
http://www.marketwatch.com/story/ge-capital-see-farmers-considering-equipment-upgrades-after-late-spring-season-2014-07-09 

Payday lender Ace Cash Express to pay $10 million over debt-  
   collection practices
http://www.washingtonpost.com/business/economy/payday-lender-ace-cash-express-fined-over-abusive-debt-collection-practices/2014/07/10/04e9fa08-0858-11e4-8a6a-19355c7e870a_story.html

Citigroup said to be near $7-billion mortgage settlement
http://www.latimes.com/business/la-fi-citigroup-mortgage-probe-20140709-story.html?track=lat-email-latimesbusinessdaily%2Fyourmoney

FTC sues Amazon over in-app purchases
http://www.usatoday.com/story/tech/2014/07/10/ftc-amazon/12478459/

Banks strive to comply with affirmative action rules
http://www.ababj.com/blogs-3/the-human-element/item/4748-banks-strive-to-comply-with-affirmative-action-rules

Here are the top 20 selling albums of 2014… so far
http://blog.sfgate.com/loaded/2014/07/10/2014_so_far/?cmpid=hp-hc-entertainment#24962101=0

 

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--You May Have Missed It

Cell Phone Spyware
http://thedailyskip.com/cell-phone-spy-ware/?goback=%2Egde_124526_member_5892837071923466240

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SparkPeople--Live Healthier and Longer

Make Your Own Salad Dressing

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Baseball Poem

BOB SHEPARD

Bill Lattanzi

Transmigratory birds -
Orioles, Jays, Cards -
In town one day, gone the next.
Our cities connect by rail by bus by train
By plane, by wire and less.
We move.
Born in the burbs, 90 miles from your
Calm, Bob Shepard:
"Now batting. The Centerfielder. Mickey Mantle."
And you were old then. Doing your crosswords,
Looking up at just the right moment, never
Missing a line. Your P.A. voice sitting
kindly between the squawk of the Scooter and
the Ol' Redhead, wised up, seen it all.

We migrate and grow by rail and plane and
PF Flyer - running faster, jumping higher -
Now we're minutes from Fenway, and
Sox fans, too. Proof that peace is possible;
It's all a game. And with my sons
We sit, ghost of my Dad and we and them and watch
Rootless and rooted, rooting,
And listen for you, Bob Shepard,
87 I think you are, still there,
In between clever McCarver and professional Buck.
Look up, Bob. Look up.
"Number 2. The shortstop. Derek Jeter. Jeter."
The game goes on.

 

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Sports Briefs----

The Spurs Have Quietly Re-Signed Their Entire Team, And It's Terrifying For The Rest Of The NBA
http://www.businessinsider.com/spurs-resigned-entire-team-2014-7

Here’s How Much Tickets for the Final World Cup Game Cost 
http://www.foxbusiness.com/personal-finance/2014/07/10/world-cup-ticket-prices-to-hit-20k/

Shelly Sterling: Donald blew Barbara Walters sit-down shot
http://www.usatoday.com/story/sports/nba/clippers/2014/07/10/sterling-vs-sterling-day-4-probate-trial-sale-of-clippers/12492833/

Wrigley Field renovation unanimously approved
http://www.chicagotribune.com/business/breaking/chi-wrigley-renovation-20140710,0,82965.story

29 Minutes That Shook Brazil
http://www.nytimes.com/2014/07/10/sports/world-cup-2014-five-german-kicks-felt-in-brazilian-guts-everywhere.html

Manziel: Johnny Football or Johnny Obnoxious?
http://www.crainscleveland.com/article/20140707/SPONSORED_BRIAN_TUCKER/307079999/manziel-johnny-football-or-johnny-obnoxious

 

((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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California Nuts Briefs---

49ers unveil Levi's Stadium menu and beer list-- just don't call them 'hot dogs'
http://www.contracostatimes.com/news/ci_26119216/49ers-unveil-levis-stadium-menu-and-beer-list

For Vegetarians at Levi’s Stadium
http://insidescoopsf.sfgate.com/blog/2014/07/10/previewing-the-food-options-at-levis-stadium-in-santa-clara-the-most-vegan-friendly-stadium-in-the-entire-sports-industry/

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“Gimme that Wine”

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

A Casino in Napa Wine Country?
http://www.winespectator.com/webfeature/show/id/50243

Lodi grower plans on smaller-than-average crop
http://westernfarmpress.com/grapes/lodi-grower-plans-smaller-average-crop

Charles Smith Reinvents Substance
http://www.winespectator.com/blogs/show/id/50235

Southern Oregon’s under-the-radar wine country
http://seattletimes.com/html/travel/2023988369_oregonwinecoverxml.html

Your Next Lesson: Zinfandel
http://www.nytimes.com/2014/07/09/dining/your-next-lesson-zinfandel.html?partner=rss&emc=rss&_r=2

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