Wednesday, June 23, 2010
Shawn Giffin remembered
(This ad is a “trade” for the writing of this column. Opinions
Shawn Giffin remembered
Western Association of Equipment Leasing Honors New CLP’s at Conference.
The WAEL Certified Lease Professional (CLP) is the only professional certification available in the equipment leasing industry. WAEL President Gordon Roberts (shown above at the podium) and Certification Chair Ken Goodman, CLP (far right) present WAEL’s new CLPs with special plaque at the conference: seated (from left to right): Tom Cadle, vice-president, First Source Financial Services, Rancho Cordova, CA; Patrick Byrne, president, Balboa Capital Corporation, Los Angeles, CA; Shawn Giffin, executive vice-president, Finance, Balboa Capital Corporation, Irvine, CA; and Bill Whener, president, First Concord Acceptance Corp., Denver, Co., Certification Chair Ken Goodman, CLP
“Thanks for putting this sad announcement up. Shawn must have been in a dark and lonely place. This should give everyone a moment to reflect and be thankful for what we have.
“Very sad day for all of us who started at Balboa Funding Group in 1991 and worked with Shawn in the early days. He was definitely one of the smartest, funniest and inspirational guys I have ever known. His leadership and drive is the reason that Balboa Capital became the company that it is today, both good and bad. He also is responsible for giving many men the opportunity to start their own companies."
“This photo was from the Balboa holiday party in 1992 when I just got promoted to be the General Manager of the Los Angeles office, the beginning of the expansion and growth of the company. He will be missed.”
1991 -- Top row Left to Right – David Lean, Greg Miller, Shawn Giffin,
"Balboa was my first job in the leasing industry after moving out to Southern CA from the East Coast after college in 1990. What impressed me more than anything about that operation was how dynamic and intelligent Shawn was. It didn't take me long to decide that he was a young entrepreneur that I wanted to learn from and emulate!
“We worked hard and had a lot of fun in those early Balboa days and used to call Shawn Doogie Howser because he could stare down the finest of CEO's, do it with a smile and he looked like he was 15 years old.
“We had our differences after I left Balboa to run my own company but I never lost an ounce of respect for him.
“Far too many of us would not be doing this today if it weren't for Shawn Giffin"
Left to Right, salesmen: Pat Byrne, Andy Saik, Eric Evans, Scott Hamburg, Darren Gardner (Alliance Capital), Greg Miller, Dan Bassett and Bob Skibinski.
“I was so saddened by the Shawn Giffin news on today’s newsletter. I am sure you are bombarded with emails regarding this. If you receive any information on services to send arrangements to or any kind of donation facility that is set up for his boys or another charity his family has please pass it along. This is such a tragedy and I among many others would love to be able to send condolences to his family in one way or another.”
(Shawn was separated from his wife at the time. He has two boys. He sold his interest in Balboa Capital May, 2004 to Patrick Byrne, his partner, as it was reported they were not in agreement about the direction of the company. No service has been planned to date, and should there be one, Leasing News will inform readers. Editor)
Announcement of change in ownership of Balboa Capital:
Shawn Giffin falls from building
### Press Release ########################
ELFA-MFI Report May Business Down 6%
Washington, DC, The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity for the $518 billion equipment finance sector, showed overall new business volume for May increased five percent when compared to the same period in 2009. When compared to the prior month, the MLFI-25 reported new business volume decreased by six percent, from $4.7 billion to $4.4 billion. Only 28 percent of the MLFI participants reported a year-over-year decline in new business volume in May 2010.
Delinquencies increased slightly from the previous month, but showed significant improvement compared to the year-earlier period.
Charge-offs also improved, from 1.7 percent in May 2009 to 1.6 percent in May 2010.
Credit approvals remained flat at 68 percent when compared to the prior month, but were up slightly compared to the same period the prior year.
Total headcount for equipment finance companies remained flat in the April-May period, but showed a significant drop from May 2009.
According to a CFO Survey conducted by Duke University, respondents forecasted stronger capital spending in the next 12 months. According to the survey, hiring and borrowing conditions continue to remain tight in the near future.
"While new business volume was somewhat sluggish early in the year, we are seeing a significant increase in pipeline activity during the second quarter,” said Larry Smilie, Managing Director, Banc of America Leasing.
“Overall, we continue to see 2010 as a challenging year which for us will require disciplined origination and increased market coverage to overcome weaker than expected demand."
“Despite a modest growth spurt in new business volume in May, the data reflect what most economists recognize: a slowly recovering economy and somewhat soft demand by business for capital equipment,” said William G. Sutton, ELFA President. “But the trend appears to be heading in the right direction.”
About the ELFA’s MLFI-25
The MLFI-25 is the only index that reflects capex, or the volume of commercial equipment financed in the U.S. The MLFI-25 is released globally at 9:00 a.m. Eastern time from Washington, D.C. each month, on the day before the U.S. Department of Commerce releases the durable goods report. The MLFI-25 is a financial indicator that complements the durable goods report and other economic indexes, including the Institute for Supply Management Index, which reports economic activity in the manufacturing sector. Together with the MLFI-25 these reports provide a complete view of the status of productive assets in the U.S. economy: equipment produced, acquired and financed.
The latest Monthly Leasing and Finance Index, including methodology and participants is available below and also at http://www.elfaonline.org/ind/research/MLFI/
The ELFA produces the MLFI-25 survey to help member organizations achieve competitive advantage by providing them with leading-edge research and benchmarking information to support strategic business decision making.
The MLFI-25 is a barometer of the trends in U.S. capital equipment investment. Five components are included in the survey: new business volume (originations), aging of receivables, charge-offs, credit approval ratios, (approved vs. submitted) and headcount for the equipment finance business.
The MLFI-25 measures monthly commercial equipment lease and loan activity as reported by participating ELFA member equipment finance companies representing a cross section of the equipment finance sector, including small ticket, middle-market, large ticket, bank, captive and independent leasing and finance companies. Based on hard survey data, the responses mirror the economic activity of the broader equipment finance sector and current business conditions nationally.
ELFA MLFI-25 Participants
ADP Credit Corporation
About the ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $518 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 over 600 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
ELFA is the premier source for statistics and analyses concerning the equipment finance sector. Please visit http://www.elfaonline.org/ind/research/ for additional information
The Equipment Leasing & Finance Foundation is the non-profit affiliate to the Equipment Leasing and Finance Association, providing future-focused research to the equipment finance industry. For more information please visit the website at www.leasefoundation.org
#### Press Release #############################
Monthly Confidence Index - Down ( oh, no!)
For the first time the Equipment Leasing and Finance Foundation (ELFA) finds a downturn in confidence.
Trying to remain optimistic, the ELFA printed these comments in their monthly press release:
Captive Middle Market:
Independent Middle Market:
Full Press Release here:
Classified Ads---Sales Manager
For a full listing of all “job wanted” ads, please go to:
Other e-Mail Posting Sites:
Letters---We get eMail
(Mostly in chronological order)
“Former President of NorVergence back in business:”
Rudy Trebels (not a CLP, but still claims such) & Friends
“Why does he claim he is still a CLP on LinkedIn, if he is not? Or are the CLP’s a bunch of phony’s? ”
(Well, Trebels has changed some of it, now states is past member and not a present member of leasing associations. But yes, he still states being a Certified Lease Professional although CLPfoundation.org does not list him as a “member in good standing.”
(I can’t say all the CLP’s are phony, but perhaps those still on the Trebels LinkedIn have the answers to your question: (identification by Leasing News in italics and CLP in bold and any who would like to respond, will definitely quote you, please don’t bring up “alleged,” as please see all the Leasing News Bulletin Board Complaints and creditors of IF Credit in BK and other law suits :)
(“Alexander Cronfield, VP/.COO Apple Credit Capital Group (www.applecapital.org --not related to Apple Computer)
CLP Standard of Conduct:
Previous story (with history):
Steve Jobs and Bill Gates
"I don’t know who was having more fun – these two or the guy who wrote the captions."
Sales makes it Happen---by Kit Menkin
“Great selection Kit, I really enjoyed it.
“My brother just sent this to me…
“It’s a golden retriever…”
Today's Top Event in History
“Your historical news of the Sony Betamax rekindled a memory from years past. A good friend of mine had just purchased a new Betamax with borrowed funds from a bank in St. Joseph, Missouri. A few days later he received a thank you letter from the bank for using its services. The letter also informed him that he needed to provide the bank with collision and liability insurance for his 1975 Betamax.”
“Once in a while something so totally cool comes out that even a guy who doesn't normally even know what he'd like for Father's Day or Christmas would immediately ask for it.”
“It can drive a 16-D nail through a 2 X4 at 200 yards. This makes construction a breeze, you can sit in your lawn chair and build a fence. Just get your wife or son-in-law to hold the fence boards in place while you sit back, relax with a cold (Adult Beverage) drink and when he or she has the board in the right place, just fire away.
With the hundred round magazine you can build the fence with a minimum of reloading. After a day of fence building with the new DeWalt Rapid fire nail gun they will not ask you to build or fix anything else, probably, ever again.
“(I added the son-in-law part.)”
“After being retired for a while, I feel I miss work and working. I enjoy consulting and had some good assignments, but they were too infrequent and not very satisfying.
If you hear about an opportunity in Banking, Leasing or Credit, I'd love to hear about it."
Help Want ad
“It is definitely worthwhile. I do know that others get a huge response because of their location.
“The best thing about the ads is that they are perfectly targeted to our industry, and that is quite hard to find.
“Thanks again, and if I haven’t said this before, please keep up the good reporting!”
Abrar Chaudhry joins CHP Consulting, Boston Massachusetts, as a consultant to its global equipment and finance industries.
He was a principal at Codex Development, Associate Engineer at Outcome, and previous was a Facility Manager for Sunoco. He has an MS in Information Systems from Northeastern University and a BS in Computer Science from University of Massachusetts, Boston.
Beverlie Frazier has joined Specialty Funding - Equipment Finance, Albuquerque, New Mexico as sales and marketing director.
She brings over 19 years experience in sales, management, and advertising. Frazier previously worked as vice president of marketing for Big 8 Advertising and as national sales manager for Comcast Spotlight. She has a bachelor's degree in communications from the University of New Mexico and a master’s degree in business from the University of Phoenix. She is past president of the New Mexico Chapter of the Executive Women's Golf Association Inc
Terese Kramer was named vice president, equipment division manager, M&I Equipment Finance, Milwaukee, Wisconsin. Prior to joining M&I, Kramer previously served as vice president, asset management for CoActiv Capital Partners. In addition, she has held various management positions in equipment valuation, portfolio management, and remarketing. She has more than 30 years of industry experience; principal, TK Consultants, Asset Management, Banc of American Leasing, Asset Management Head, Heller Global Finance, Head of Remarketing & Portfolio Management, Lombard North Central, Equipment Manager, GARM, Equipment Manager, GATX Capital.
A dual British and American citizen, she holds a Master of Arts (M.A.) degree from Michigan State University and has completed all course work in the American Society of Appraisers, Plant and Machinery Discipline.
Plamena Petrova joins CHP Consulting, Boston Massachusetts, as a consultant to its global equipment and finance industries.
She has an extensive background in software development, most recently as a computer scientist for the US military. Plamena graduated with a BS in computer science from Cornell University.
Richard J. Remiker was appointed president of Huntington's Equipment Finance Group, Columbus Ohio. His most recent role as chief administrative officer for RBS Asset Finance (Chicago, Illinois). He previously spent five years with Merrill Lynch Capital and nine years with Key Equipment Finance, the last four as president and COO of their mid-sized company market and large-ticket leasing business. He also held positions with U.S. Leasing and CIT Group.
Peter Schmidt joins CHP Consulting, Boston Massachusetts, as a consultant to its global equipment and finance industries.
He was a research associate in information and knowledge management. Peter graduated BA Cum Laude in Computer Science from Williams College.
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### Press Release ############################
Successful Wrap Up ConnectionPoint 2010 Conference
International Decision Systems customers and partners attend one of the largest private conferences in the asset finance industry
Minneapolis, MN – Over 100 industry leaders attended last week’s ConnectionPoint 2010, making the IDS user conference one of the largest private events in the asset finance industry. Participating companies included many of the largest banks, equipment manufacturers and financing organizations from across the globe.
Attendees came to learn best practices in leasing technology, processes and systems as well as the latest in product updates from IDS including InfoLease, Rapport and ProFinia. Over 50 sessions were offered on topics such as multicurrency, asset usage, workflow automation and managing multiple back office systems.
“It is great to have everyone in one location – clients and partners,” said Cody Sanguinetti, Equipment Finance Solutions Account Manager from Great American Insurance Group. “The industry is picking up. People are still cautious, but more optimistic than last year.”
Interactive Sessions on Best Practices
Following a session on ProFinia workflow automation, Larry Duer, a Partner at IlluciData commented on his perspective. "Workflow automation is a game-changer,” said Mr. Duer. “Anyone implementing a new system without incorporating some level of automation to their business process workflow is missing the boat.”
“The upgrades and new options from IDS are really exciting,” commented Mr. Sanguinetti. “My clients have told me that they are really looking forward to learning more about the latest enhancements, especially in Rapport.”
ELFA COO Leads the List of Speakers
Speakers at the conference included experts from around the asset finance industry including product specialists, consultants, and developers from IDS and partner companies. In addition, Ralph Petta, Chief Operating Officer of the ELFA, was the guest speaker on June 8.
"Speaking at ConnectionPoint this year has been a great experience,” said Mr. Petta. “To have the opportunity to discuss current issues, trends and opportunities with industry leading organizations including International Decision Systems has been excellent. I look forward to continuing these conversations as the year continues."
“We are very pleased with the interactive nature of the conference and the hands-on aspect we provide to all attendees each year,” commented Terry Welty, Chief Marketing Officer at IDS. “By engaging Fortune 1000 asset finance organizations with consultants, partners and IDS employees - who are especially interested in customer feedback - we are much better prepared to develop new and improved approaches to product implementation and customer support, and to develop new product ideas that meet the specific needs of our customers.”
About International Decision Systems®
IDS is the leading provider of software and solutions for the equipment finance market. For over 30 years, the company has offered integrated solutions from origination through disposition and asset management, supported by an ongoing research and development effort unrivaled in the market space. Customers include approximately 50% of the largest leasing companies in the United States, and an increasing number of the largest global players. In addition to offering powerful, flexible software, IDS provides the industry experience and expertise to assure successful, complete solutions. Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, India, Singapore and Australia. For additional information, visit www.idsgrp.com.
International Decision Systems®, InfoLease®, Rapport®, and ProFinia® are registered trademarks of International Decision Systems, Inc.
WLN Offers Free Listings for Lessors/Funding Sources
World Leasing News (WLN), after being launched in the summer of 2008, is already the leading online leasing publication in the world with over 25,000 daily readers and 60,000 monthly visitors.
WLN proudly announces the launch of a new service that will truly revolutionize the global leasing industry – the online Global Leasing Resource (GLR).
The GLR will contain:
• Expanded listings of lessors throughout the world – Listings will be input online by the lessors themselves. Each listing will provide the users the needed insight into meaningful aspects of each lessor’s business. An exhaustive search function will accommodate various business to business objectives. Those who list will be able to subscribe to GLR’s unparalleled content at a substantial discount.
• Country reports for each and every reporting lease economy in the world – This information will be presented in a meaningful standard format and will include pertinent industry, tax, legal and regulatory items as well as critical market and financial information. The cumulative information will provide an incredibly valuable global snapshot and facilitate benchmarking. This too, will be continually updated.
• Macro articles from industry leaders containing their views on the state of the industry.
Essentially, the GLR will be current, accurate and robust!
The listings will be available at no cost to those directly engaged in the leasing industry, at least through August 31, 2010.
To list, please click: www.globalleasingresource.com
#### Press Release ##############################
Albuquerque, New Mexico--Adopt-a-Dog
“Butterscotch is a lovely 2 year old, female, purebred Red & White - almost Lemon - Basset Hound. She was found in the park in Clovis, NM a few days ago. You can see that she gets on well with children.
“While Basset Rescue and other animal welfare groups try hard to reunite dogs with their families, no one has responded to posters, etc. to claim her. Butterscotch will be taken to the veterinarian next week for an exam.
“Please call or email Elizabeth Moorhead (phone: 505- 242-2239) for more information and adoption fees.”
Basset Rescue does not have runs or kennels. Foster Families welcome these needy hounds into their own homes, giving them love and attention until adoption. We work closely with the Peoples' Anti-Cruelty Association/Albuquerque Animal Rescue (PACA), Albuquerque Animal Services, and the Santa Fe Animal Shelter. During the adoption process, we educate the prospective owner about the breed, proper care, and the benefits of spaying and neutering their new Basset.
Adopt-a-Pet by Leasing Co. State/City
Adopt a Pet
Banks Have Repaid 75% of Bailout, Geithner Says
Mortgage Delays Blamed for Decline in Home Sales
Dallas: Fastest growing U.S. city
Sharks part ways with goalie Evgeni Nabokov
A Thin Field of American Gewürztraminers
Chardonnay once again Washington's top wine grape
It's think 'n drink as wine labels get quirky
Marin County Winery Shake-out
US/International Wine Events
Leasing News Wine & Spirits Page
Today in History
1995 - Los Angeles Raiders media release: “The Raiders organization has chosen to relocate to Oakland.” In a déjà-vu-all-over-again kind of situation, Raiders owner Al Davis made the decision to take his team back to where it had come from. And the Raiders sued the NFL, claiming it forced the team to move by insisting that a second team be allowed to play at a new stadium Davis wanted to build at Hollywood Park in suburban Inglewood. Davis said the other team would have crippled his team financially when it came to selling luxury suites and building fan loyalty. He demanded more than $1 billion for the ‘right’ to the LA market and for compensation to his team for revenue to be lost because of the failed deal. Davis and the Raiders lost the suit on May 21, 2001. Kimberly Hamilton, forewoman of the 7-man, 5-woman jury said, “I think the key for me was that the Raiders did not have enough evidence to meet the burden of proof.” An NFL spokesman said, “The notion that the Raiders ‘own’ the Los Angeles market also was entirely unsupported by the evidence in this case. The Raiders abandoned Los Angeles when they returned to Oakland in 1995, just as they deserted Oakland in 1982 when they moved to the Los Angeles Coliseum.”
This Day in American History
1611 - English navigator Henry Hudson, famous for attempting to find a route from Europe to Asia via the Arctic Ocean, was set adrift in Hudson Bay by mutineers on his ship Discovery; he was never seen again.
Alone At The Plate
(Inside the front cover of the book “You Can Teach Hitting,” by Dusty Baker, there appears this poem about a Little Leaguer...)
He pulls on a helmet, picks up the bat,
The crowd starts to yell, the game's on the line,
Dad yells, "Go get it," Mom wrings her hands,
Heros are made in seconds such as this,
Years after this game's ended and he's little no more,
No he'll have forgotten if he was out, hit, or a run,
So cheer this boy on, alone with his fate;
Spend your time wisely and help in his quest
And when the game's over, this boy can stand tall,
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
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