Archives: July 14, 2000
Farm Credit Leasing Announces Staffing
for LeasExpress Line

Minneapolis----July 14, 2000--Farm Credit Leasing (FCL) has named Brian Legried Senior Vice President of its LeasExpress business line, a new organizational unit within the company. He was previously Vice President of Credit and Operations. Legried will manage the entire business line, which serves the leasing needs of agricultural producers with speed, ease of transaction processing and standardized product offerings.

 Other staffing changes within the LeasExpress business line include the following:

-- Troy Mostaert has been promoted to Vice President of Credit and Operations. He was previously Manager of Credit and Operations.

-- Ed Hennen has been named Vice President of Sales and Marketing. He was previously a vice president of regional sales.

-- Don Nolley will also report to Legried as Vice President of the Lease Manager Group, FCL's portfolio management product. He retains his same title from prior to the reorganization.

Today

Brian Legried
VP Refined Fuels Sales
& Energy Services at CHS
Former President
CHS Capital, LLC
https://www.linkedin.com/pub/brian-legried/4/226/911

Troy Mostaer
Vice President & Sales Team Leader
at AgStar Financial Services
https://www.linkedin.com/pub/troy-mostaert/4/b62/5b2

Ed Hennen
Business Counselor at SCORE
https://www.linkedin.com/pub/ed-hennen/10/359/810

Don Nolley
Vice President, Marketplace Development
at Farm Credit Leasing
https://www.linkedin.com/pub/don-nolley/8/641/189

 

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

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(1) California SB 197 Will Change Small Ticket Leasing
     in the Golden State/Maybe Elsewhere, too
      by Christopher Menkin
http://leasingnews.org/archives/Jul2015/7_06.htm#california

(2)  1993-Pictures from the Past
 Shawn Giffin, CLP, VP Finance/Patrick Byrne, CLP, President
     Balboa Capital Corporation
http://leasingnews.org/archives/Jul2015/7_08.htm#pictures

(3) The Volume Produced by Alternate Finance is Astounding
   Changing the Way Credit Decision Are Being Made
         by Christopher Menkin
http://leasingnews.org/archives/Jul2015/7_06.htm#volume

(4) Archives: July 6, 2004
   NorVergence Files Bankruptcy?
http://leasingnews.org/archives/Jul2015/7_06.htm#archives

(5) BBB Leasing Company Ratings
         July 7, 2015
http://leasingnews.org/archives/Jul2015/7_08.htm#bbb

(6) New Hires---Promotions in the Leasing Business
         and Related Industries
http://leasingnews.org/archives/Jul2015/7_10.htm#hires

(7) Complaints Bulletin Board BBB Ratings
          Updated
http://leasingnews.org/archives/Jul2015/7_08.htm#bbb_complaint

(8) Leasing Industry Ads---Help Wanted
         Opportunities Available
http://leasingnews.org/archives/Jul2015/7_08.htm#ads_help

(9) Advanced Execution of Acceptance Certificates
           Don't Do it!
         by Michael J. Witt, Esq.
http://leasingnews.org/archives/Jul2015/7_08.htm#advanced

(10) One More Added: Top 25 Most Influential List
    in Equipment Finance and Leasing
http://leasingnews.org/archives/Jul2015/7_08.htm#top25

 

 

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Asian-American Bank Fails in Colorado
Cause: SBA Loans/International Business

The two branches of Premier Bank, Denver, Colorado were closed with United Fidelity Bank, fsb, Evansville, Indiana, to assume all of the deposits.

Premier Bank is the sixth FDIC-insured institution to fail in the nation this year, and the first in Colorado. Founded December 29, 1995, the bank had 17 full time employees at its offices in Aurora and Denver,
a far cry from year-end 2005 the bank had 56 full time employees and was processing SBA loans and international transactions. Except for 2012, it was also their last year of profit.

The Denver Post reported: "It was started in 1996 as Colorado's first
Asian-American bank.

"The bank has been in trouble since at least 2007, when Small Business Administration loans accounted for 90 percent of its loan portfolio and it was slapped with a cease and desist order by state and federal regulators."(1) *

Note the high Non-Current loans next to the Net Equity and what
it did to the profits: 

Non-Current Loans
2005	$2.8
2006	$8.7
2007	$7.4
2008	$3.2
2009	$2.1
2010	$3.2
2011	$2.3
2012	$1.2
2013	$2.0
2014	$2.0
3/31	$1.7
Net Equity
2005	$11.6
2006	$10.8
2007	$10.2
2008	$6.7
2009	$4.6
2010	$3.6
2011	$1.7
2012	$2.2
2013	$1.3
2014	$733,000
3/31	$433,000
Profit
2005	$2.1
2006	-$848,000
2007	-$811,000
2008	-$3.2
2009	-$2.0
2010	-$1.5
2011	-$1.9
2012	$302,000
2013	-$529,000
2014	-$917,000
3/31	-$339,000

 

Charge Offs

2005  $515,000  ($488,000 Commercial/Industrial loans, $27,000 individual, $16,000 other consumer loans)
2006    $92,000   ($100,000 construction/land, $100,000 nonfarm/nonresidential, $10,000 farmland, $166,000 commercial/industrial, $21 individual, $12,000 other consumer loans, -$305,000 other loans.
2007   $382,000   ($279,000 commercial/industrial, $84,000 nonfarm/industrial, $50,000 multifamily)
2008   $461,000   ($307,000 nonfarm/nonresidential, $$100,000 commercial/industrial, $53,000 1-4 family residential)
2009   $187,000    ($101,000 commercial/industrial, $78,000 nonfarm/nonres.)
2010    $88,000   ($83,000 commercial/industrial, $5,000 const./land)
2011  $1.8   ($1.1 nonfarm/nonres., $742,000 commercial/industrial)
2012   -$33,000   ($-$40,000 nonfarm/nonres., $13,000 indiv., $11,000 other. -$6,000 commercial/industrial)
2013   $272,000 ($264,000 nonfarm/nonres., $9,000 multifamily, -$1,000 individuals)
2014   $96,000   ($94,000 Commercial/Industrial, $3,000 other loans, $=1,000 individuals)
3/31   0

Construction and Land, 1-4 family multiple residential, Multiple Family
Residential, Non-Farm Non-Residential loans (non-owner occupied).         .

Reportedly most of the loans were SBA Loan repayments not being made as well as the venture into international business as evidenced by this on their website in Colorado:

         (click to enlarge)

 

As of March 31, 2015, Premier Bank had approximately $31.7 million in total assets and $29.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, United Fidelity Bank, fsb agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.4 million.

(1) Denver Post Article
http://www.denverpost.com/business/ci_28466729/regulators-close-premier-bank-branches-will-reopen-united

*Cease and Desist Order: http://www.federalreserve.gov/newsevents/press/
enforcement/enf20120529a1.pdf

FDIC Press Release
https://www.fdic.gov/news/news/press/2015/pr15060.html

List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html

Leasing News Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

 

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“Employment Offer: How Long to Wait to Respond”
Career Crossroad---By Emily Fitzpatrick/RII

  

Q: What is an acceptable time frame to respond to an employment offer?

A: Twenty-four to forty-eight hours is an acceptable time frame to respond to an offer; this may seem to be a short amount of time to make such an important decision. However, your decision should have been made during your first in person interview in contemplation of an offer. 

From the very first day of the process, the candidate must “act as if” an offer will come to fruition (or else what, is the point?). As such, due diligence must begin from DAY ONE. It is my suggestion that before ever meeting the company face to face that you are 90% sure there is interest in accepting an offer from this employer (phone interviews and research will assist you in this process). At any point, you know this is not the position /company for you, STOP the process. Wasting companies’ time will not bode well for your reputation in such a small industry.

Remember before ever deciding to embark in a career move, you should put your goals and objectives on paper. These goals and objectives must be discussed with the recruiter and/or hiring manager via a phone interview. You can also follow up with any topics or issues that were not covered. Clarification will be needed and further questions will arise, which should be addressed in a second phone interview, and if necessary, a third. If the company is moving forward with an in person meeting before you are ready, suggest a third conversation to “clarify some topics” (e.g. first year expectations, non-compete, base, etc.…); they will appreciate you not wasting their time and resources. If working with a recruiter, they will walk you through this and make the process easier.

The point of conducting due diligence is to make sure both parties are on the same page (apples to apples). Why waste time traveling, meeting executives, etc… if you are not at least 90-95%, sure this is the company for you? By following this procedure in employment offers, the twenty-four to the forty-eight-hour time frame is expected.

Note: if interviewing for a very senior level / C-Level type position, there are many more factors that go beyond the due diligence process, and as such warrants a longer period.

Feel free to contact for more information info@riirecruit.com

Emily Fitzpatrick Executive Recruiter | Career Consultant Columnist for Career Crossroads Member of the National Resume Writers Association (NRWA) T: 954.885.9241 | M: 954.612.0567 | eFax: 636.582.3231

website | email | vCard | LeasingNews.org | LinkedIn | Twitter

 

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Leasing Industry Ads---Help Wanted
Sales/Senior Credit Analyst

Senior Credit Analyst Choose Location Anaheim, CA, Tigard, OR, Federal Way, WA Middle Market Credits $500,000 to $5MM including Equipment Leases and Financings and Recourse and Non-recourse Lines of Credit -Five or More Years Credit Underwriting Exp. Some Relocation Provided click here for more information Financial Pacific Leasing - Commercial A subsidiary of Umpqua Bank

  

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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Market Study Defense Did Not Help Doctors'
 Claim of Lessor's Alleged Fraud

By Tom McCurnin
Leasing News Legal Editor

 Medical Equipment Lessors Often Provide Proposed Lessee With
Market Studies.  Rhode Island Court Rules That Such Market Studies
Do Not Rise to the Level of a Representation of Expected Profit
Which Would Enable the Lessee to Avoid Payment on Lease. 

 “But you got to know the territory!”  Meredith Wilson, Music Man 1957

Siemens Financial Services, Inc. v. Stonebridge Equipment Leasing  91 A.3d 817 (Rhode Island 2014). 

Equipment Lessors which provide financing for specialized medical equipment for surgery, diagnostics, or treatment typically know the territory.  A good medical equipment lessor will know, within 50 miles, every similar surgery center offering similar equipment. Siemens is no exception, and knows the competition. In today’s case, the lessor distributed a marketing study, and the lessee took the bait. When the profits did not achieve the projections, the doctors defended Siemen’s suit on the grounds of fraud. The court held that the distribution of a marketing study was not fraud, giving the salesperson free reign. The facts follow. 

In 2005, a group of physicians and businessmen desired to start an MRI center in Woonsocket, Rhode Island. In 2006, the sales team for Siemens provided a business-plan to the prospective lessee, which included census data, forecasts, and projections for the MRI center, including potential demand for an MRI center in the Woonsocket area. The report included a disclaimer that the information contained in the report was “based upon best available data but should not be taken as a prediction of the future.”

In 2007, the lessee agreed to lease the MRI equipment, creating two different entities to operate the MRI center, a leasing company to acquire the equipment and a second entity to operate the center six leasing schedules with Siemens on March 29, 2007. The lessee executed six leasing schedules with Siemens in 2007. 

The MRI center was spectacularly unsuccessful and the operating entity made only one payment, and likewise the lessee made only one payment to Siemens, defaulting in 2008. 

Siemens filed suit in 2009 and the lessee counterclaimed for intentional misrepresentation, negligent misrepresentation, fraud and deceit.  Both sides moved for summary judgment. In 2013, the trial court granted summary judgment for Siemens and ruled against the lessee holding that nothing in the record supports the lessee’s allegations of misrepresentations or reasonable reliance thereon. The lessee appealed.

On appeal, the lessees made the arguments that (1) Siemens provided the lessee with a Demographic Profile, upon which defendants relied to their detriment; (2) Siemens sold the lessees a $40,000 consulting program, known as the “Compass Program,” but never delivered the services that had been promised; and (3) Siemens provided business projections for the MRI center to the lessee, upon which it detrimentally relied. 

The Court noted that the lessee’s contentions were founded on Siemens' purported misrepresentations of information such as the number of procedures the MRI center would be able to perform and the estimated profit that the center could be expected to earn. The Court found it difficult to perceive how a promise to provide certain services squares with the allegations of fraud. In addition, insofar as the Compass Program was concerned, the Court noted that the lessee made a $4,000 deposit towards the program but paid no other payments, and the deposit was eventually was applied to lessee’s obligations under the lease, essentially no harm, no foul. Finally, the Court noted that the so-called representations in the marketing study could not constitute fraud because opinions, estimates, or judgments cannot form the basis of a misrepresentation, nor was there any reliance upon the projections by the lessee.  Accordingly, the Court ruled in favor of Siemens and ruled against the lessee.

What are the lessons for the equipment lessor here?

First, salespersons have a free reign to provide demographic studies and profit projections to prospective lessees. It’s always a good idea to have an admonition on the report that the materials should not be relied upon by the lessee and the data is merely an opinion. This fact was emphasized by the Court in its opinion. I think the Court recognized that salespersons will provide some fluff to cement a deal, but having an admonition would have saved the day here. 

Second, if the reader is a salesperson, keep copious notes of the materials provided to the prospective lessee and the summary of any meetings in which potential profit is discussed. In this case, the Siemens’ salesperson was deposed and testified that as a supplier of such imagery machinery, it was the salesperson job to “know the territory” and to provide the prospective customer with data concerning other MRI centers in the proposed geographic area. Although the deposition was not attached to the opinion, the salesperson sounded reasonable and articulate. 

Third, I didn’t see a way for Siemens to get out of the litigation and appeal without going through the process, save and except having a strong admonition in its market studies. Although its documentation was generally in order, Siemens had to go through the litigation process to obtain its judgment.

The bottom line to this case is that like Professor Harold Hill, a salesman has got to know the territory and should not be punished by conveying information about the lessee’s competitors.

Seimens Financial Services Case http://www.leasingnews.org/PDF/SeimensFinance2015.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

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

 

(Terry retired January 1, 2015.  To honor him and his many years of writing for readers of Leasing News, is repeating several of his columns that are still meaningful today. Here is September 24, 2013.)

Purchase Money Security Interest (PMSI)

The current discussion on accounting rules is taking center stage on the concerns of the future of commercial equipment leasing. However, I think some of the new crop of lease employees fail to understand there are legal requirements as well and we have a large quantity of leases that are really disguised conditional sales contracts or are more legally called: “leases intended as a security.” These leases are governed by Article 9 of the Uniform Commercial Code (UCC) and not Article 2A that is intended for legal leases. Article 9 commercial transactions require liens to protect the lender’s position.
In Article 9--- transactions the lessee is recognized as the owner of the equipment. In Article 2A ---the lessor is recognized as the owner. Therefore an Article 9 lease requires the lessor to file a lien to protect the asset until the lease is paid in full.

To understand ownership, the UCC recognizes three types of ownership:

1. real estate
2. titled assets
3. untitled assets.

Transportation assets usually have a title so the lien is placed on the physical vehicle.

An untitled commercial asset, which is virtually everything else that is not real estate, requires filing a lien (financing statement) at a State level. You must discover the State in which the lessee has filed their charter papers and file in that State.

Article 2A Lessors are allowed to file financing statements on leases without fear that the filing may be used as evidence that we made a loan instead of a lease (Article 9-505). Also, the financing statement must be in the State of incorporation because it is an Article 9 statement.

A financing statement is a legal notice that a lender is placing a lien on an asset that they have taken as security for the repayment of a loan or lease (intended as a security).

Article 2A true leases do not require the filing of a lien because the lessor is recognized as the owner.

There are three types of liens. It is best to understand that first filed has first position if a default occurs. Generally speaking a lot of lenders file a “blanket lien” which means they have first position on all current assets plus any after acquired assets. This was done by the UCC so some minor assets could be sold without having the lien released so long as it is replaced by something of equal value. This means that a lease on new equipment could become covered by the blanket lien holder if there was not a procedure to allow the lessor to protect his position.

A “purchase money security interest filing” (PMSI) was established to allow a lender/lessor to file a lien and have a first position lien provided the lien was filed no later than 20 days after the lessee takes possession of the equipment. This poses a problem when vendors provide a trial period for the lessee to determine if the equipment will serve his needs. This is the reason we have a space on the acceptance agreement for possession/delivery date. But as you know lessees usually date everything the same as the acceptance date and unless you confirm the delivery date with the vendor, you could be late filed and you lose the asset to the blanked lien holder.

However, first filed is always first lien holder, so if no blanket lien exists you could be first lien holder even if you fail the PMSI filing deadline. It is very important to complete the filing within the 20 day period after possession. I can’t emphasize that enough.

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

 

 

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Financial and Sales Training
Updated

These individuals act as a consultant in 75% or more of their main business, actually training staff or individuals of a leasing company. These are not schools or franchisors, which can be viewed by clicking here. http://www.leasingnews.org/Conscious-Top%20Stories/School-Franchisors.htm

Several hold classes, and most will travel to their client's premise.

Adrian Miller	Institute For Personal Developement
Open Advance	Teichman Financial Training
	Wheeler Business Consulting, LLC

 

Full List:
http://www.leasingnews.org/Training/Financial_sales_trainer.htm

 

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Chart - Good news for the iPhone 6S
— more than half of iPhone 6S users upgrade every 2 years

by Matt Rosoff, www.businessinsider

According to a spring 2015 poll by Gallup, compiled here by Statista, more than half of iPhone users upgrade as soon as their carrier allows them to — usually every two years. That means about half of people still sporting an iPhone 5S are likely to buy the new 6S (or whatever it turns out to be called) when it comes out. Only 47% of iPhone users keep their phones until they're obsolete or stop working.

 

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

Q3 Economic Outlook Forecasts 5% Growth in Equipment and Software Investment as Second Half of 2015 Improves

Report Findings to be Featured in July 15 Webcast

Washington, DC,– Investment in equipment and software is expected to grow 5 percent in 2015, according to the Q3 update to the 2015 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. As the U.S. economy rebounds from a disappointing Q1, the report predicts that business confidence will improve, which should encourage greater investment over the second half of 2015. The outlook for 12 individual equipment and software verticals tracked in the report is mixed, with some sectors outperforming others.

The Foundation’s Economic Outlook, which is focused on the $903 billion equipment leasing and finance industry, forecasts 2015 equipment investment and capital spending in the United States and evaluates the effects of various industry and external factors likely to affect growth over the next 12 months.

William G. Sutton, CAE, President of the Foundation and President and CEO of the Equipment Leasing and Finance Association, said, “Despite a weak start to the year and remaining obstacles to growth, the Foundation’s Outlook reports that a strengthening U.S. economy bodes well for the second half of the year for equipment and software investment.  Data from the Foundation’s Monthly Confidence Index and ELFA’s Monthly Leasing and Finance Index also reflect positive trends in equipment investment. In addition, expectations of a Fed rate increase later this year could encourage households and businesses to ‘pull forward’ investments in the coming months.  The Outlook report also predicts that a steady increase in new business volume and a rising propensity to finance will drive positive growth for the equipment finance industry in 2015.”
Highlights from the study include:

•  Investment in equipment and software is expected to grow 5 percent in 2015, down from 5.8 percent in 2014. Following a weak fourth quarter of 2014, equipment and software investment growth picked up modestly from 1.6 percent in Q4 2014 to 3.8 percent in Q1 2015. The struggling manufacturing and energy sectors are obstacles to growth, yet an improving economy should provide a lift to business investment and equipment finance activity during the second half of 2015.  

•  GDP is expected to grow 2.6 percent in 2015. After 2.2 percent growth in the fourth quarter of 2014, the U.S. economy contracted 0.2 percent in Q1 2015, driven largely by harsh winter weather on the East Coast, a port strike on the West Coast, and a strong dollar that harmed net exports. Mirroring 2014, the disappointing first quarter is expected to hold back annual growth in 2015. Growth drivers expected to fuel faster growth for the rest of 2015 include a strengthening labor market, momentum in housing, and improved consumer spending.

•  Credit availability and demand continue to gradually rise. The weak first quarter presented a short-term headwind to borrowing, but stronger growth over the remainder of the year should encourage greater borrowing from businesses in the second half of 2015.

•  The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is included in the report and tracks 12 equipment and software investment verticals, forecasts the following equipment investment activity:

  Agriculture machinery investment growth will likely remain weak or negative over the next three to six months.
   Construction machinery investment growth should remain steady over the next three to six months.

• Materials handling equipment investment growth could slow over the next three to six months.
• All other industrial equipment investment growth may decline further over the next three to six months.
• Medical equipment investment growth is expected to remain strong over the next three to six months.
• Mining and oilfield machinery investment should remain weak over the next three to six months.
     Aircraft investment growth may remain steady or moderate slightly over the next three to six months.
     Ships and boats investment growth may moderate in the next three to six months.
• Railroad equipment investment growth rates may decline over the next three to six months.
• Trucks investment growth could ease somewhat over the next three to six months.
• Computers investment growth rates should remain steady over the next three to six months.
•  Software investment growth will likely remain stable over the next three to six months.

The Foundation will host a one-hour webcast on July 15 at 1 p.m. EDT on the Outlook report results and how to use the data to improve business decision-making.  To register, email Foundation@LeaseFoundation.org.

The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economics and public policy consulting firm Keybridge Research. The annual economic forecast provides a three-to-six month outlook for industry investment with data, including a summary of investment trends in key equipment markets, credit market conditions, the U.S. macroeconomic outlook and key economic indicators. The Q3 report is the second update to the 2015 Annual Outlook, and will be followed by one more quarterly update before the publication of the 2016 Annual Outlook in December.

Download the full report at
www.leasefoundation.org/research/eo/.

The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization dedicated to inspiring thoughtful innovation and contributing to the betterment of the equipment leasing and finance industry.  Funded through charitable individual and corporate donations, the Foundation focuses on the development of in-depth, independent research and resources for the advancement of equipment finance industry knowledge. Visit the Foundation online at http://www.LeaseFoundation.org.

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

 

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

Terrier/Chow Chow/Mixed
Minneapolis, Minnesota Adopt-a-Dog

Liam
Rescue ID: 11214-L
Sex: Male
Current Size: 8.7 Pounds
General Potential Size: Medium
Current Age: 2 Months 30 Days (best estimate)
Activity Level: Moderately Active
Indoor or Outdoor: Indoor Only
Good with Dogs: Yes
Good with Cats: Yes
Good with Kids: Yes
Adoption Fee: $425

“Hi, I'm your typical puppy. I love people and also love to cuddle with my foster family. I enjoy playing tug of war with my foster pups and I also play well with the bigger dogs. I will sometimes cry in my kennel but other than that I am quiet. I am not potty trained, but working on it."

Adopt Application:
midwestanimalrescue.org/forms/form_humanverify?formid=426

Contact Info
Write Us:
Midwest Animal Rescue & Services
P.O. Box 290073
Minneapolis, MN 55429

Call Us:
(763) 503-4990

Email Us:
adopt@midwestanimalrescue.org

Have a question about an application?  Please email us at:  mars.apc.dept@gmail.com

Monday - Closed
Tuesday, Thursday: 11am to 8pm
Wednesday, Friday: 11am to 7pm
Saturday: 9am to 5pm
Sunday: 12:30pm to 5:30pm

Our available pets live in homes, as family members, receiving all of the love and care they would in an adoptive home, until they are adopted. The adopters gain greater insight into the pets’ behavior and personality versus interacting with an animal who has been living in a kennel and the pet is more prepared for a loving home life. This helps produce the best match possible for the new families, resulting in a 99% success rate!

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

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Back Office
 Updated

Back Office: Atlanta, GA Let Tax Partners handle your sales and use tax compliance duties w/less risk and cost than in-house. Largest tax compliance firm in US E-mail:sales@taxpartners.com	Back Office: 58 Calif. counties Property tax, assessment appear representation and consulting, including hearing appearances. www.rpcpropertytax.com   Ken Sullivan 800-540-3900
Backoffice: Dallas, TX  Property Tax and sales and use tax administration services performance is guaranteed and we will save you time and money or our service is free. E-mail: info@osgsolutions.com
Back Office: Gig Harbor, WA Orion First Financial provides comprehensive lease/loan account servicing, collection/workout solutions and strategic advisory services. Contact David T. Schaefer 253-857-9610 dtschaefer@orionfirst.com	Back Office: Laughlin, NV 20 years experience on funder/broker sides. Looking for a relationship where I act as credit shop for smaller brokers when financial statements are involved. E-mail:batarista@laughlin.net
Back Office: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available, 440-871-5484, E-mail gary@avptc.com	Back Office – National Spending too much time on processing credit applications, preparing lease documents and other administrative tasks and not enough time marketing and growing your business? Call us!407.964.1232 dee@leasebrokerassistant.com
Backoffice: New Rochelle, NY Proactive management/administration of commercial/consumer vehicle lease/finance portfolios covering insurance, titles, registrations, sales/property taxes, tickets, collections, accounting, vehicle disposition. Since 1975 E-mail: Barrett@BarrettCapital.com	Back Office: Northbrook, IL Our staff of CPA's and lease professionals can handle any or all portfolio responsibilities incl. portfolio mgmt, invoicing, sales/property/income tax, accounting, etc.  800-826-7070  E-mail: ngeary@ecsfinancial.com
Back Office: San Rafael, CA We can run your back office from origination to final payoff. 30 years experience in commercial equipment lease and loan portfolio management.  E-mail:gmartinez@phxa.com	Back Office - Portland, OR  Keep more of your hard-earned commissions! Middle-Market, Small-Ticket for brokers, nationwide, 20+years experience, negotiable splits. Contact us for more information at (888)745-9481 or bev@alliedpacific.net
Back Office: Portland  Portfolio Financial Servicing Company provides private label servicing, backup servicing and sales/property tax filings for commercial and consumer leases and loans in the U.S. and Canada. With over $20 Billion in assets under management we have serviced the lending community since 1982. PFSC is engaged with over 52 securitizations.clysne@pfsc.com

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

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

News Briefs----

Sisters Carry On Father’s Legacy at Bancroft Leasing Company Started by Late Charlie Bancroft 1977
http://www.memphisdailynews.com/news/2015/jul/13/sisters-carry-on-fathers-legacy-at-bancroft-leasing/

Warren Capital’s biggest investor files $2.6 million claim
 Court OKs $1 million distribution
http://www.northbaybusinessjournal.com/northbay/marincounty/4107671-181/warren-capitals-biggest-investor-files#d8PP7qSZwQdRTBlP.97

Signature Bank Forms New, Government-Focused Signature Public Funding Corp.
http://www.streetinsider.com/Corporate+News/Signature+Bank+%
28SBNY%29+Forms+New,+Government-Focused+Signature+Public+Funding+Corp./10717381.html

Top 100 Banks Using Social Media
http://thefinancialbrand.com/52746/power-100-2015-q2-bank-rankings/

If Bank of America's Debt Rating Improves, It Could Earn $2 Billion More Each Year
http://www.fool.com/investing/general/2015/07/12/if-bank-of-americas-debt-rating-improves-it-could.aspx

Save Export-Import Bank: Our view 81-year-old independent agency makes a profit and helps create jobs
http://www.usatoday.com/story/opinion/2015/07/12/export-import-bank-trade-manufacturing-editorials-debates/29828653/

Windows 10 launch July 29, available as a free upgrade for a limited time
http://www.seattletimes.com/business/microsoft-to-launch-windows-10-on-july-29/

 

 

[headlines]
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--You May Have Missed It

A restaurant critic says one type of restaurant
is never worth the money
http://finance.yahoo.com/news/restaurant-critic-says-one-type-190000096.html

[headlines]
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SparkPeople--Live Healthier and Longer

Poll: Do You Drink Hot Beverages to Cool Off?
http://www.sparkpeople.com/blog/blog.asp?
post=poll_drink_hot_beverages_on_a_hot_day_to_cool_off

[headlines]
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Baseball Poem

Casey's Random Batting Trial

by Keith Woolner

The win probability was epsilon for the Mudville nine that day
With a minus-two run differential, and just three outs left to play

Then when Cooney lowered his OBP, and Barrows did the same
They took the last-ups advantage and the home crowd from the game.

The Dodger fans began to leave, the Expos fan did too
Just Red Sox fans did cling to hope which springs forever new

They thought, if only one at-bat, Casey he could get
Egad! Pete Rose could take those odds, and make a hefty bet.

But Flynn and Blake preceded him. Who made this lineup card?
For both were mere slap hitters, for whom patience was too hard.

So upon the stricken statheads, grim melancholy sat;
Just an infinitesimal probability of getting Casey to the bat

But Flynn singled off the closer, to the wonderment of all
Blake caused the fielder's UZR to drop, when he let the line drive fall.

And when the fielders finally stopped giving the ball a chase
Blake had doubled, while Flynn had failed to take the extra base.

Then from fifty thousand estimated arose a lusty yell
It rumbled through the concrete valley, and I think it crashed my Dell.

It pounded through the TV speakers, enhanced and amplified by FOX.
For Casey, mighty Casey, was advancing to the box.

There was ease in Casey's manner, and a smile was on his face.
Did his endless bat-touch ritual and then stepped into his place

When responding to the cheers, he flipped off the roaring crowd
No one doubted it was Casey, high-and-mighty and so proud.

All eyes were on Casey as the pitcher got the sign
All throats groaned and sighed when he stepped out one more time.

The manager debated the I-B-B, and then said with a sneer
"I've pitched to Barry Bonds before; I'll pitch to this jerk here."

At last he hurled the spheroid, sent a-whizzing toward the plate.
The FOX gun it read 95, but 'twas really 88.

Far too close the batsman stood, so the pitch came towards his head.
Casey dove, fell to the ground. "Strike one!", the umpire said.

From the stands, black with people, there went up a muffled roar.
"Is Enrico Pallazzo umping?" they yelled, plus a few "choice" words more.

"Kill the ump!" Don Zimmer shouted, and from the dugout he bound
And it's likely he would have killed, had not Casey thrown him to the ground.

Casey knew the state transition matrix, and should have showed concern.
But knew from the hurler's pitch count, his right arm was likely burned.

He stepped back in the box, and once more the dun sphere flew.
But this ump calls the high strike, and Casey took it for strike two.

"Fraud!" cried the maddened thousands, when they saw the Jumbotron.
The screen operator was ejected, and only then the game went on.

Pitcher and batter faced off as foes, and each refused to bend
Yet only one would increase his VORP when this day comes to an end.

"Walk-off homer" Casey thought, avoid the extra innings he did hate.
He pounds, with steroid muscles, his mighty bat upon the plate.

From the stretch to a full stop, so deliberate it's absurd.
Pitch in the dirt! The swing is checked! Catcher appeals to third...

Oh somewhere in this land, the Red Sox are champions of the day.
Steinbrenner's firing someone, and Rickey still wants to play.
Gaylord Perry and Joe Niekro are finally playing fair.

But there is no joy in Mudville
Casey cost them three Win Shares.

[headlines]
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Sports Briefs----

Serena Williams and Novak Djokovic danced up a storm at Wimbledon Champions' Ball
http://ftw.usatoday.com/2015/07/serena-williams-novak-djokovic-danced-dance-wimbledon-champions-ball

[headlines]
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California Nuts Briefs---

Ballot measure threatens California water tunnels plan
http://www.sacbee.com/news/state/california/water-and-drought/article27052015.html#emlnl=Morning_Newsletter

Father Junipero Serra's sainthood protested at Mission San Juan Bautista
http://www.contracostatimes.com/breaking-news/ci_28470120/father-junipero-serras-sainthood-protested-at-mission-san

28 beautiful photochrom prints of California
http://www.sfgate.com/bayarea/article/28-beautiful-photochrom-prints-of-California-6373875.php#photo-8268125

A Tale of Two Winegrape Markets
http://www.winesandvines.com/template.cfm?section=news&content=154405

Rescue Plan for Historic Chilean Malbec
http://www.wine-searcher.com/m/2015/07/rescue-plan-for-historic-chilean-malbec

Why French wrong to think wine in screw-cap bottles won't age well
http://linkis.com/www.scmp.com/lifesty/ZLsrw

San Francisco Wine School's California Wine Program Comes to Sonoma County July 31 -- August 2
http://www.winebusiness.com/news/?go=getArticle&dataid=154339

Oregon matures into world-class wine and food destination
http://www.usatoday.com/story/travel/destinations/2015/07/10/oregon-wine/29919839/

[headlines]
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“Gimme that Wine”

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

Nova Scotia Opens Borders to Import Wine
http://www.winebusiness.com/news/?go=getArticle&dataid=154342

College pioneers rare vines in Niagara
http://www.bulletnewsniagara.ca/index.php?p=sections&id=4980        

Wine community part of our Sonoma fabric
http://www.northbaybusinessjournal.com/opinion/4148963-181/wine-community-part-of-our#21uRfCJFh6jMKcT7.99

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

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

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

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