Archives: June 22, 2007
Wildwood Closes Its Doors

“It is with much regret that we announce the closing of Wildwood Financial Group, Ltd. effective June 30, 2007 due to the death of our founder Bob Baker, CLP.

“Following the decision to close, the staff has been asked to wrap up operations and close the office ending the week of June 22nd.

“To all of our clients, funding sources, and business consultants, we appreciate your prayers and support through the good years and during this most difficult time.”

The Staff at Wildwood Financial Group, Ltd.

Mona Janes, CLP
Tracy Galibert
Donna Fite, CLP
Mary Ann Pompe
Tabitha Heinz
Kimberly Willen

In 1995, after being in the finance and leasing industry for over 30 years, the late Bob Baker, CLP, formed the Wildwood Financial Group, Ltd. The concept of Wildwood was created by accident. Bob was a frequent speaker conducting seminars and workshops at various leasing association conferences. After a Bob’s sessions at these workshops, several companies approached him to do in-house training.

He grew this concept to $34,950 for training, and follow-up, helping graduate place leases. He was the main contact, knowing what went where and why. He also brought members into leasing associations. In 1995, he won the United Association of Equipment Leasing membership contest with 27 new members in a several month period. He also probably brought an equal number into the growing National Association of Equipment Leasing Brokers. He wanted his graduates to join leasing associations, network, find sources and make new friends themselves.

In September of last year he purchased assets of Leasing Institute of America (LIA) of Salt Lake City, Utah. The company was owned by ACC Capital and Amembal Associates.

Today
Mona Janes
Senior Consultant at BeneTrends, Inc.
https://www.linkedin.com/pub/mona-janes/b/27a/464

Leasing Schools/Franchisors
http://www.leasingnews.org/Conscious-Top%20Stories/School-Franchisors.htm

 

 

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Top Ten Stories June 16-June 18
(Most Often Opened by Readers)

(1) Position Wanted---Senior Management
           Seeking New Opportunities
http://leasingnews.org/archives/Jun2015/6_18.htm#ads_sm

(2) California Law Now in Effect Broadens Exemption
  But More Stringent Provisions as to Licensees
         By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Jun2015/6_16.htm#california

(3) California Proposed Law Update:
   Third Party Originators: No License Needed
      for Business Loans or Capital Lease
      By Christopher Menkin
http://leasingnews.org/archives/Jun2015/6_16.htm#proposed

(4)New Hires---Promotions in the Leasing Business
        and Related Industries
http://leasingnews.org/archives/Jun2015/6_18.htm#hires

(5) $1 Million Oregon Leasing Investment Ponzi Scheme
         "Con Within a Con"
http://www.oregonlive.com/tigard/index.ssf/2015/06/
convicted_tigard_swindler_gets.html

(6) Web App with Calculator for Vendors
         One Month Free Trial
http://leasingnews.org/archives/Jun2015/6_18.htm#calculator

(7) Leasing 102 by Mr. Terry Winders, CLFP
 Qualify Lessee's Credit
http://leasingnews.org/archives/Jun2015/6_16.htm#qualifying

(8) Two More Added: Top 25 Most Influential Lawyers
          in Equipment Finance and Leasing
http://leasingnews.org/archives/Jun2015/6_16.htm#two

(9) Equipment Finance Decision Maker Survey Results:
           Vendor & Small Biz
    By Sawbux.wordpress.com
http://leasingnews.org/archives/Jun2015/6_18.htm#survey

(10) Case Credit Gets Thrown in the Ditch
           by Kentucky Court
   by Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Jun2015/6_18.htm#case

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FDIC Cases Against Failed Bank Directors & Officers
26 to Date, compared to High in 2012 of 369

Leasing News readers were surprised with the report from the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) reports that courts have sentenced to prison 100 bankers, plus senior corporate executives, mortgage modification scammers, real estate developers, brokers, and other defendants for crimes related to TARP and investigated by SIGTARP.

As of May 26, 2015, SIGTARP has produced the following results:

• Criminal convictions of 182 individuals, 101 already sentenced to prison while others await sentencing
• Criminal charges filed against 256 individuals, including 167 senior officers
• Civil charges filed against 66 individuals, including 52 corporate or senior officers, and 67 companies
• Orders temporarily or permanently banning 93 individuals from working in the banking or financial industry, working as a contractor with the federal government, or working as a licensed attorney

In the meantime, the Federal Deposit Insurance Corporation has sued to date 26 directors and officers "who caused losses to the institution in order to maximize recoveries. These individuals can include officers and directors, attorneys, accountants, appraisers, brokers, or others. Professional liability claims also include direct claims against insurance carriers such as fidelity bond carriers and title insurance companies."

2009	11
2010	98
2011	264
2012	369
2013	316
2014	123
2015	26
Total	1207

Authorized Cases Against
Directors and Officers
Failed Bank

When pursuing professional liability litigation, the FDIC typically engages outside counsel to assist.  Attorneys in the Legal Division manage all legal assignments and litigation, including matters referred to outside counsel, and oversee settlement and litigation strategy.  As a result, the FDIC’s in-house attorneys are always available to discuss all aspects of litigation, including settlement.

As receiver, the FDIC has at least three years for tort claims and six years for breach-of-contract claims to file suit from the time a bank is closed. If state law permits a longer time, the state statute of limitations is followed.

Professionals may be sued for, among other things, either gross or simple negligence. The Supreme Court has ruled that the FDIC may pursue simple negligence claims against directors and officers if state law permits (Atherton v. FDIC). Federal law preempts state law that insulates directors and officers from gross negligence or worse conduct. Bank directors are allowed to exercise business judgment without incurring legal liability.

Not all bank failures result in Director and Officer (D&O) lawsuits. The FDIC brought claims against directors and officers in 24 percent of the bank failures between 1985 and 1992.

From 1986 through 2014, the FDIC and former Resolution Trust Corporation (1989-1995) collected $8.62 billion from professional liability claims. Over that same time, they spent $2.14 billion to fund all professional liability claims and investigations. Early in the process of professional liability claims, expenses will often exceed recoveries due to the costs incurred in handling new investigations. Professional liability program recoveries lag expenses by several years until settlements occur and judgments are awarded.

List of Liability Settlements by State since 2009
https://www.fdic.gov/about/freedom/plsa/index.html

Statement Concerning Responsibilities of Bank Directors
 and Officers
 https://www.fdic.gov/regulations/laws/rules/5000-3300.html#fdic5000statementct

 

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Two More Added: Top 25 Most Influential Lawyers
in Equipment Finance and Leasing

New to be added to the List:

Andrew Alper
Thomas V. Askounis
Joe Bonanno, CLFP
James Coston
Kenneth Charles Greene, Esq.
Michael A. Leichtling
Barry Marks, Esq.
David G. Mayer 
Frank Peretore
Ellen Michelle Stern
Michael J. Witt

Jonathan Fleisher is a Toronto, Canada attorney whose practice
focuses on the commercial finance industry with a particular emphasis on innovative cross-border transactions and equipment and asset finance, where he has been recognized as a leading lawyer by the Canadian Legal Lexpert Directory and Best Lawyers. He has particular expertise assisting public and private US commercial finance companies with both establishing operations in Canada and purchasing and selling finance and lease companies, providing both legal and practical business advice.  He is also a prolific writer on topics related to equipment finance and cross-border transactions. Jonathan is the legal editor for Fleet Digest magazine and has completed both the Equipment Finance and Subordinated Debt chapters for Canadian Forms & Precedents. He has also drafted specific guides for US lenders expanding operations to Canada. He is a Director of the Canadian Finance and Leasing Association, Member of the Legal Committee of the Equipment Leasing and Finance Association, member of the American College of Commercial Finance Lawyers.

Kevin Trabaris has extensive experience representing banks, financial companies, equipment lessors, insurers, and other funding and intermediary entities and borrowers in connection with thousands of business financing matters.  He has handled everything from small ticket transactions to billion dollar syndicated loans, real estate financing to asset-based facilities. He is an active member of the Commercial Finance Association, LinkedIn Capital Equipment Leasing Group and Equipment Leasing Professionals Group. He has an excellent reputation among his colleagues.

Past Nominee Full List
http://www.leasingnews.org/Pages/top_lawyers.html

Please submit your nomination with at least a paragraph of why the person should be considered one of Most Influential Lawyers in the Equipment Finance and Leasing industry.

kitmenkin@leasingnews.org

 

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“Thank You Notes”
Career Crossroad---By Emily Fitzpatrick/RII

Question:
How Important Are Thank-You Notes?

Answer:
Recently, I worked with a Candidate, who would not follow our advice, (1) sent his thank-you note a week after his interview, and (2) wrote his note in template form (generic). Needless to say, his candidacy ranking fell from #1 to #5. A survey conducted indicated “… more than 75 percent of interviewers say receiving a thank-you note impacts their decision-making process …”  

Candidacy can easily be sabotaged if the thank-you note …
… Is Not Sent Within 24 hours – It’s Imperative to be Timely
If not sending within an acceptable period, it conveys that you are not that interested and that your follow-up skills are lacking (imperative in sales). Remember to collect correct contact (email) information and send each interviewer a follow-up message.
 
… Contains Errors
Even the smallest error could put you on the chopping block instantly! Make sure you carefully proofread and have others and/or your recruiter review. 
Note: even though there are software programs that identify many errors, they are NOT 100% foolproof.

… Is Generic
You need to differentiate yourself from other candidates. The goal is to demonstrate your capabilities, drive, and interest in the organization and specific position. Take note to tailor every follow-up you send and make sure your message is different for each interviewer.   
… Is Too Long
In drafting your note, keep it succinct. Just highlight main points, address concerns the interviewer(s) may have expressed and reiterate how your professional background would fit within the organization. Feel free to mention an important detail you may have forgotten during the interview.

Contact info@riirecruit.com for other Thank-You Note Dos and Don’ts
Remember to construct your follow-up messages carefully to reconnect with your hiring managers/interviewers in a timely manner in order keep your candidacy in top ranking 

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

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

Leasing Industry Help Wanted
One Remotely/One in Anaheim, California

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

Documentation Anaheim, CA Financial Pacific Leasing’s Commercial team in Anaheim, CA is growing their Documentation/Funding group and looking for someone with an keen attention to detail and ready for the opportunity to work hard, learn and grow. Please click here for more information. www.finpac.com A subsidiary of Umpqua Bank

 

Finance Officer Fleet Financing Resources, LLC. is seeking candidates to join our team. 3 yrs. sales exp. in the equipment leasing & finance with pref. of titled transportation equipment Click here for more information www.FFResources.com Nationwide Leasing & Financing of Commercial Fleets

For information on placing a help wanted ad, please click here

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The Consequences of a Creditor Filing a Bad
Involuntary Bankruptcy

By Tom McCurnin
Leasing News Legal Editor

DVI Lease Receivables and Lyon Financial Sued Lessee for
Involuntary Bankruptcy, Couldn’t Prove Case, and Was Tagged for
$1 Million Dollars in Attorney Fees.  11th Circuit Affirms. 

Gosh, I just love it when a creditor decides to be “aggressive” without a lot of thought. Often the creditor hires a knuckle dragging Neanderthal collection firm to bash the borrower into submission. The problem with “aggressive” collection strategies is that aggression without thought can be a dangerous proposition. In today’s case the equipment lessor filed an involuntary bankruptcy, lost, and was tagged for $6 million in attorney fees. Thankfully, the 11th Circuit bailed the lessor out for most of the damage, but was still left with a $1 million dollar bill for stupidly filing an involuntary bankruptcy. This case was a complete train wreck for the lessor. 

What Is an Involuntary Bankruptcy?
From the outset, some discussion of what an involuntary bankruptcy is and why it might be used is in order. An involuntary bankruptcy is one where usually three creditors get together and file a petition to force the proposed debtor into bankruptcy. Once in bankruptcy, the bankruptcy trustee can administer assets, sue for fraudulent conveyances, set aside preferential transfers, and other super-powers trustees have. Sounds like a great idea, right? Wrong. 

The involuntary bankruptcy is a two-step procedure, first having to prove the debtor is actually insolvent and second the actual administration of the debtor’s estate. There are also practical impediments, such as getting the trustee to act for the creditors, which often involves the creditors paying for the entire administration of the estate, in advance, which could be hundreds of thousands of dollars. And if the creditors decide to dismiss or the court finds that debtor is not insolvent, the creditors will be on the hook for the debtor’s attorney fees and damages. This is an area in which creditors need to exercise great caution and restraint. 

The Facts
In this case, the borrower is actually the guarantor who was sued. You can file an involuntary bankruptcy against a borrower. It generally takes three creditors to join in the filing. In some instances, one creditor can do it, but usually it takes three to file.

This is a very technical legal area, not easily explained. Hence the reason why Lyon Financial and their idiot lawyers botched the filing.

Beginning in November 2000, Rosenberg’s limited partnerships leased certain medical equipment from DVI Financial Services. Rosenberg executed a personal guaranty. This was a complex, multiple lender financing arrangement, and the leases were assigned to US Bank, the Trustee for the note holders. After DVI filed for bankruptcy in August 2003, Lyon Financial Service took over the servicing obligations with respect to these leases. There were numerous special purpose entities holding the lease obligations which the Court called the “DVI Entities.”

In December 2003, Lyon sued Rosenberg but the parties entered into a settlement agreement, with Rosenberg signing a new guaranty and a confession of judgment. Jane Fox signed the agreement on behalf of Lyon as Lyon’s Director of Operations. Lyon sued Rosenberg again but the action was stayed pending on a determination of the exact amount owed. 

Undaunted, and again through Ms. Fox, the DVI Entities filed an involuntary Chapter 7 bankruptcy petition against Rosenberg in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, claiming $5,363,361.56. This involuntary petition was later transferred to the U.S. Bankruptcy Court for the Southern District of Florida. The problem was that Ms. Fox worked for Lyon Financial not the DVI Entities. Thus, she was not authorized to sign the involuntary petition for the petitioning creditors. This was a detail that somehow eluded the lessor and its counsel. 

The Trial Court Rulings
On August 21, 2009, the bankruptcy court granted Rosenberg’s motion to dismiss and dismissed the involuntary petition with prejudice. The bankruptcy court found that the DVI Entities were not eligible creditors of Rosenberg because his 2005 guaranty did not run to the DVI Entities; rather, it ran only to Lyon Financial, as servicer and as agent for Trustee USB. Moreover, the DVI Entities, as pass through entities, lacked standing as a matter of law to file an involuntary petition against Rosenberg. Rosenberg won, DVI and Lyons lost.  Round one to the guarantor. 

In response to the dismissal order, Rosenberg filed an adversary complaint against Fox and the DVI entities to recover his attorney’s fees under § 303 of the Bankruptcy Code and for bad faith. The Bankruptcy Court split the claims. While the jury trial issue as to bad-faith damages was litigated in the district court, Rosenberg’s claims for attorney’s fees and costs under § 303 remained for adjudication in the bankruptcy court. The Bankruptcy Court awarded Rosenberg $1,034,295.45 of Rosenberg’s attorney’s fees and approximately $39,019.37 in costs. In the District Court action, Rosenberg was awarded $1,120,000 in compensatory damages (for emotional distress, loss of reputation, and loss of wages) and $5,000,000 in punitive damages. Round two to the guarantor. 

The 11th Circuit Affirms

The creditors appealed to the 11th Circuit. The court of appeals affirmed, holding that all of the evidence pointed to the fact that Lyon Financial was the de facto petitioning creditor and that Ms. Fox signed the petition. The Court vacated the District Court judgment for the $6,120,000 bad faith judgment, and directed that this be determined by the Bankruptcy Court and remanded the matter. In addition, Rosenberg recovered his attorney fees on appeal, essentially getting fees on fees. 

While the 11th Circuit took away most of the $7,000,000 judgment, it did so only temporarily, and the Bankruptcy Court will hear the bad faith claims.  Rosenberg is, at the minimum, entitled to $1.1 million dollars from Lyon Financial and the DVI Entities and Ms. Fox. Round three technically went to the lessor, but at what cost?  $1 million dollars in damages and attorney fees plus the possibility of more? 

What Are the Take Aways?

What are the lessons for the equipment lessor here?

First, Involuntary bankruptcies are specialized, high risk, proceedings. They are not for clumsy collection lawyers. Any creditor considering such a procedure should engage competent counsel who should advise the client of the requirements and the risks associated with the filing. 

Second, this case should have been settled. At some point, the lessor realized that the involuntary bankruptcy was a really bad idea and poorly executed. The lessor should have thrown some money at this case and made it go away.

The bottom line to this case is that while involuntary bankruptcies may sound like a good idea, but they really should be reserved for the most extreme cases and carefully prepared and executed by competent counsel. 

DVI Rosenberg Case http://www.leasingnews.org/PDF/DVI_Rosenberg2015.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

(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 July 16, 2012.)

"Change of Location"

Most leases should carry a requirement that the lessee notify the lessor of any change in location of the equipment. This of course does not apply to transportation equipment or equipment that will be used at a variety of locations. All other equipment should have its location noted on the lease with a statement that it cannot be moved to a new location without giving the lessor notice. This does not mean that they need the lessor’s permission to relocate the equipment, but there are many reasons to have knowledge of the change, including personal property tax or other license requirements.

Occasionally a change in location may involve a sublease or a use by a sister corporation or perhaps just an unauthorized user. Some equipment is actually sold and the buyer does not care or know enough to check UCC filings.

Mergers happen and equipment is moved to a new location where it can be better utilized. If this occurs, because of a name change, you need an assumption agreement to transfer responsibility to the new company.

Occasionally mergers happen without the knowledge of the lessor and rents continue to come in but the equipment is sold because it is no longer needed and the new company is unaware that it is leased.

Equipment over and above a certain amount determined by you should be scheduled for an on sight inspection, if not each year, than on a routine basis.

Especially if the equipment is moved. Due to the quite enjoyment clause required by Article 2A you need to inform the lessee of your inspection and establish a convenient date. An email, a letter, even a post card (remember them) that request a date to inspect all equipment should be sent out regardless of transaction size and whether or not you intend to conduct the inspection because you may be surprised at the response and it may correct some problems very early. It also puts you in communication with your lessee and provides a marketing opportunity.

Since the current UCC-1 filing requirements are made in the State where your lessee has filed his business papers, it does not require a new filing if the equipment is move out of State. However the new State may not be a State that you are registered to do business and may require some additional work on your part. States have different laws and you need to be aware of that.

I have always believed that placing stickers on equipment with your name, address, and phone number and an ownership statement solves a lot of these problems for lessee’s and others that may not understand this equipment is under lease. This applies to Article 9 leases as well as Article 2A leases. The smaller the equipment and the more mobile it is just increases the need for the lease stickers. It certainly will help you in a bankruptcy court or attempt to repossess the equipment.

Some short form leases fail to include location change language but it is one of the more important clauses and should be articulated by whoever closes your lease and it should be covered in your thank you letter that contains the copy of the lease with all signatures and blanks completed. It is always smart to list some important requirements (in the kings English) that are in the lease (which nobody reads) so the lessee is fully informed. Location is rarely a concern of the lessee so I strongly recommend you mention it in your closing letter. 

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

 

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

   

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

Specialty Funding Group 2015 Best of Albuquerque Award
in the Equipment Leasing Service Category

Bob Underwood
President

Specialty Funding Group has been selected for the 20 1 5 Best of Albuquerque Award in the Equipment Leasing Service category by the Albuquerque Award Program.

Each year, the Albuquerque Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community.  These exception companies help make the Albuquerque area a great place to live, work and play.

 

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

Equipment Leasing & Finance Industry Confidence Drops
63.0 in June, from May index of 67.5

Washington, DC,  – The Equipment Leasing & Finance Foundation (the Foundation) releases the June 2015 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $903 billion equipment finance sector. Overall, confidence in the equipment finance market is 63.0, dropped from the May index of 67.5.

 

Thomas Jaschik, President, BB&T Equipment Finance: “I believe any rise in interest rates will spur activity within the equipment finance industry.  Companies continue to defer capital expenditures as long as possible.  A rise in interest rates will hopefully provide a catalyst to accelerate capital expenditures as costs may rise in the future.”

June 2015 MCI-EFI Survey Comments
from Industry Executive Leadership:

Independent, Small Ticket

David Schaefer, CEO, Mintaka Financial, LLC:
“Competition is robust due to new market entrants. Access to capital is abundant and new channels focused on end users are challenging us to adapt and change. Banks are actively looking to deploy capital. Secured and unsecured loan products are prevalent.”
 

Bank, Small Ticket

Paul Menzel, President & CEO, Financial Pacific Leasing, LLC:
“We are starting to see signs that both the consumer and businesses are starting to increase spending due to elevated confidence in the economy.  If this ultimately occurs in tandem, we should see accelerating growth in equipment finance in the foreseeable future.”

Bank, Middle Ticket

Adam D. Warner, President, Key Equipment Finance and Immediate Past Chairman of the Equipment Leasing and Finance Association (ELFA):
“The revised first quarter GDP showed economic contraction and economists have revised down their growth projections for the full year.  This will likely mean that interest rates will be kept at these historically low levels for longer than expected, further pressuring interest margins.”

June 2015 Survey Results:

The overall MCI-EFI is 63.0, an easing from the May index of 67.5.

• When asked to assess their business conditions over the next four months, 17.9% of executives responding said they believe business conditions will improve over the next four months, down from 30.8% in May.  82.1% of respondents believe business conditions will remain the same over the next four months, up from 69.2% in May.  None believe business conditions will worsen, unchanged from the previous month.

• 21.4% of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, down from 34.6% in May.  78.6% believe demand will “remain the same” during the same four-month time period, up from 65.4% the previous month.  None believe demand will decline, unchanged from May.

• 25% of executives expect more access to capital to fund equipment acquisitions over the next four months, down from 38.5% in May.  75% of survey respondents indicate they expect the “same” access to capital to fund business, up from 57.7% in May.  None expect “less” access to capital, down from 3.9% who expected less access to capital the previous month.

• When asked, 57.1% of the executives reported they expect to hire more employees over the next four months, an increase from 53.9% in May.  35.7% expect no change in headcount over the next four months, down from 42.3% last month.  7.1% expect to hire fewer employees, up from 3.9% who expected fewer in May.

• 3.6% of the leadership evaluate the current U.S. economy as “excellent,” relatively unchanged from 3.9% last month.  96.4% of the leadership evaluate the current U.S. economy as “fair,” and none rate it as “poor,” both unchanged from the previous month.

• 28.6% of the survey respondents believe that U.S. economic conditions will get “better” over the next six months, a decrease from 34.6 % who believed so in May.  67.9% of survey respondents indicate they believe the U.S. economy will “stay the same” over the next six months, an increase from 65.4% in May.  3.6% believe economic conditions in the U.S. will worsen over the next six months, an increase from none who believed so last month.

• In June, 35.7% of respondents indicate they believe their company will increase spending on business development activities during the next six months, a decrease from 50% in May.  60.7% believe there will be “no change” in business development spending, an increase from 46.2% last month.  3.6% believe there will be a decrease in spending, relatively unchanged from 3.9% who believed so last month.

Why an MCI-EFI?

Confidence in the U.S. economy and the capital markets is a critical driver to the equipment finance industry. Throughout history, when confidence increases, consumers and businesses are more apt to acquire more consumer goods, equipment and durables, and invest at prevailing prices. When confidence decreases, spending and risk-taking tend to fall. Investors are said to be confident when the news about the future is good and stock prices are rising.

Who participates in the MCI-EFI?

The respondents are comprised of a wide cross section of industry executives, including large-ticket, middle-market and small-ticket banks, independents and captive equipment finance companies. The MCI-EFI uses the same pool of 50 organization leaders to respond monthly to ensure the survey’s integrity. Since the same organizations provide the data from month to month, the results constitute a consistent barometer of the industry's confidence.

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

 

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

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Accounting/Aircraft/Appraisals
Service Classified Ads

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Aircraft Delivery: Seattle, WA  Global Aircraft Delivery ferries all types of aircraft all over the world. We are a unique ferry company moving your aircraft with our expert turnkey operation. www.globalaircraftdelivery.com  E-mail info@globalaircraftdelivery.com	Asset Management: Canada  Cease Bailiff Services Incorporated: Asset Investigation/Tracing; Asset Recoveries; Asset Protection/Security Asset Liquidations/Sales; Ottawa, Canada; www.ceasebailiff.c dave@ceasebailiff.ca Phone 613 898 7376 Fax 613 225 2452
Asset/Recovery & Collections: Charlotte, NC IRTC Continencies: Commercial Collections-Skip Trace- Repossessions-judgment enforcement-Investigations- Asset Re-marketing& No Cost Warehousing East Coast USA. Call 336-877-3077 ask for Robert or E-mail to  Robert@mbsfinancial.com	Nationwide Seasoned anfair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals.  Call Nassau Asset Management800-462-7728   dcastagna@nasset.com
Asset/Recovery: NorthWest  Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contact rossr@sequentam.com	Asset Marketing/Recovery: Remarking solutions for big rigs assets and trucking related companies including collections, recovery, repair and re-sales. North South Leasing cell # 586-909-8797 bob@nsleasing.com
Appraisals/Asset Recovery Melville, New York Auctions, Appraisals, National Repossessions.  ALL asset classes. 20+ year team works for you. Spend less, Net More… Fast! Ed Castagna 516-229-1968ecastagna@inplaceauction.com	Appraisals/Inspections – Construction & Mining Heavy Equipment, Transport, Agriculture and Manufacturing. We provide Certified Appraisal Reports, (USPAP Compliant), Inventory Inspections, Collateral Valuation, VIN and Serial Number Verification with Detailed Photos, Lessee and Vendor Site Inspections including Customized Inspections. In a Hurry? Try our Kwik-Kwote  Emailwww.MobileEquipAppraisals.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----

Nevada County, CA lenders found guilty of fraud
Sister and brother facing 30 years in prison
http://www.sacbee.com/news/local/article25040890.html

Paris Air Show: Leasing Companies Order Big at Airbus
Leasing Companies Buy More Aircraft than Several Airlines Combined
http://airwaysnews.com/blog/2015/06/18/paris-air-show-leasing-companies-order-big-at-airbus/

Shortage of railroad boxcars has shippers fuming
boxcars in service fell by 41% in the past decade
http://www.marketwatch.com/story/shortage-of-railroad-boxcars-has-shippers-fuming-2015-06-21

Exclusive: Bank of Greece warned bankers of 'difficult' day if no debt deal
http://www.reuters.com/article/2015/06/21/us-eurozone-greece-banks-exclusive-idUSKBN0P10UP20150621

A Reckoning for Greek Brinkmanship
For five months embarking on a major expansion of public spending.
http://www.wsj.com/articles/a-reckoning-for-greek-brinkmanship-1434919720   

Washington fears losing Greece to Moscow
Obama Quite Concerned
http://www.ft.com/cms/s/0/3f0bb524-1823-11e5-8201-cbdb03d71480.html#axzz3dkLuR3wc 

How SurveyMonkey Is Coping After the Death of Dave Goldberg
"This is going to hurt"
http://www.nytimes.com/2015/06/22/technology/how-surveymonkey-is-coping-after-death-of-dave-goldberg.html

Finance Officer Fleet Financing Resources, LLC. is seeking candidates to join our team. 3 yrs. sales exp. in the equipment leasing & finance with pref. of titled transportation equipment Click here for more information www.FFResources.com Nationwide Leasing & Financing of Commercial Fleets

 

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--You May Have Missed It

The 11 Most Expensive Steakhouses in the Country
http://247wallst.com/special-report/2015/06/18/the-11-most-expensive-steakhouses-in-the-country/2/

[headlines]
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SparkPeople--Live Healthier and Longer

You Asked: ''What Are Some Ways to Reduce the Sodium in My Diet?''
http://www.sparkpeople.com/blog/blog.asp?post=you_asked_
what_are_some_ways_to_reduce_the_sodium_in_my_diet

[headlines]
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Baseball Poem

He approaches the plate,
ponderous,
swinging smoothly
in slow motion
knowing his choice is simple:
swing or not.

As he paws
the back line of the batter's box,
matching concentration and stare
with the pitcher,
he knows
indecision
or
hesitation
makes failure likely.

Pitcher rocks.

Batter waits.

Then, in the time it takes
a happy heart to beat,
decides.

[headlines]
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Sports Briefs----

Phelps wins 200 butterfly at Santa Clara swim meet
   for first victory of year
http://www.mercurynews.com/sports/ci_28353800/phelps-wins-200-butterfly-at-santa-clara-swim

A's co-owner Wolff not interested in sharing Coliseum site with Raiders
http://www.contracostatimes.com/breaking-news/ci_28355423/co-owner-wolff-not-interested-sharing-coliseum-site

Chargers gone? Keep calm, carry on
http://www.utsandiego.com/news/2015/jun/20/chargers-raiders-stadium-los-angeles/

49ers play for field position in Santa Clara politics
http://www.mercurynews.com/breaking-news/ci_28355465/49ers-play-field-position-santa-clara-politics

Marshawn Lynch takes part in Warriors' championship parade
http://espn.go.com/nfl/story/_/id/13114259/marshawn-lynch-seattle-seahawks-takes-part-golden-state-warriors-championship-parade

NFL: 3 Potential Landing Spots for Colin Kaepernick
http://www.cheatsheet.com/sports/nfl-3-potential-landing-spots-for-colin-kaepernick.html/?ref=YF&tpl=op

A's co-owner Wolff not interested in sharing Coliseum site with Raiders
http://www.contracostatimes.com/breaking-news/ci_28355423/co-owner-wolff-not-interested-sharing-coliseum-site

Chargers gone? Keep calm, carry on
http://www.utsandiego.com/news/2015/jun/20/chargers-raiders-stadium-los-angeles/

[headlines]
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California Nuts Briefs---

California Pool Construction in Drought
  Could Hit Highest Level Since 2007
http://sacramento.cbslocal.com/2015/06/19/california-pool-construction-in-drought-could-hit-highest-level-since-2007/

California’s trout hatcheries hurt by drought, disease
http://www.sacbee.com/news/state/california/water-and-drought/article24825115.html#emlnl=Morning_Newsletter

[headlines]
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“Gimme that Wine”

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

3 decades later, Columbia Valley still defines Washington wine
http://www.greatnorthwestwine.com/2015/06/18/columbia-valley/

An extended bloom season for grapes
http://napavalleyregister.com/lifestyles/food-and-cooking/wine/an-extended-bloom-season-for-grapes/article_b7fd33bd-4e08-5cdd-bbf9-1fdaa766c786.html

Napa Valley wine, food company expands in Mendocino County
http://www.pressdemocrat.com/business/4076993-181/napa-valley-wine-food-company

Large landmark Carmel Valley winery Chateau Julien sells for $12 million, will become new winery.
http://www.montereycountyweekly.com/blogs/food_blog/large-landmark-carmel-valley-winery-chateau-julien-sells-for-million/article_c3a965e2-143b-11e5-935a-e3ee835c9105.html

The Not-So-Pink Plight of Natural Rosé
http://punchdrink.com/articles/natural-wine-plight-of-natural-rose/

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