Lease One Tagged for Fraud
in Lease Commitment
by Tom McCurnin
Leasing News Legal Editor

Broker Promised Lease Financing, Took a Deposit, and Failed to Deliver Financing Consistent With Proposal. Court Allows Fraud Case to Go to Trial. 

DEER VALLEY TRUCKING INC., an Idaho corporation, Plaintiffs,
v.
LEASE ONE CORP., a Massachusetts corporation, Joseph L. Angelo, Rick Lopez, First Financial Brokerage, Inc., a New Jersey corporation, and Robert Searcy, Defendants.

Deer Valley Trucking Inc. v. Lease One Corp 2015 WL 93843 (D. Idaho 2015). 

Some Brokers promise lessees the world and then don’t deliver. The typical scam is to “approve” a lessee for proposed financing, collect a large, up front, deposit, and then claim that additional financial information is necessary. The Broker strings the lessee along, and ultimately the deal craters and the Broker keeps the deposit. Today’s case might be a lesson to those Brokers whose business model is to pocket a lessee’s deposit. This business model did not end well for the Broker. The facts follow. 

Lessee Deer Valley Trucking is an Idaho trucking company, providing transportation services to oil companies. In 2011, Deer Valley sought lease financing from Broker Lease One for 100 vacuum trailers, a specialized trailer used to transport oil.

Broker Lease One, a Lynnfield, Massachusetts broker, proposed to provide the $5 million dollars to Deer Valley. The lease document signed by the parties identified Lease One as the lessor (even though they are only a broker) and owner of the equipment and provided for a 36–month lease of 100 trailers, at a lease rate of $159,958.00 per month, with an option to acquire the trailers at 10%. In addition, the equipment lease agreement required Deer Valley to provide a nonrefundable down payment of $344,918.00. Deer Valley wired the down payment of $344,918.00 and signed the lease agreement and returned it to Lease One.

Lease One never provided the financing as promised. Instead, they procured financing from Sentry Financial at much higher rates, and for a fair market value purchase option instead of the 10% put promised. When Deer Valley balked, and demanded its deposit back, Lease One refused. 

Deer Valley brought suit against Lease One, and its principals for (1) racketeering, (2) fraud, (3) breach of contract, (4) breach of the covenant of good faith and fair dealing, (5) unjust enrichment, (6) implied contract/quantum meruit, and (7) conversion. 

The Broker filed a summary judgment arguing that the lease signed by all parties was really not binding. Instead, the Broker argued that it the deal was “evolving,” and the jury will have look at both the lease, the later lease proposal provided by Sentry Financial, as well as the emails between the parties, to determine what the parties intended. 

Deer Valley of course argued that the lease agreement was signed by all parties and was in fact binding. Moreover, if there was no binding agreement, then Lease One should have refunded the deposit. 

The Court held that a jury could conclude in this case that the Broker failed to act reasonably and in good faith in carrying out the contract terms. The Court further held that a jury could conclude that the Broker violated the covenant of good faith and fair dealing. Finally, the Court held that a jury could infer that the Broker promised to provide financing on terms it knew it could never provide and within a time frame in knew it could not meet in order to induce Deer Valley to pay the non-refundable deposit. The Court noted that if true, these allegations would constitute fraud. The Court overruled the summary judgment, and ordered that the parties proceed to trial.  It should be noted that Lease One’s principals were also sued and will be facing trial. 

What are the takeaways here?

First, if the reader is a broker, don’t promise financing that you can’t really deliver. And if you can’t deliver the financing, refund the customer’s money. 

Second, for brokers—don’t expect to escape liability because you’ve organized the company as a corporation. In this case, the individual principals were sued personally.

Third, there may or may not be a happy ending for the broker here, as the customer filed a Chapter 11 bankruptcy, but certainly will be pursuing the claim either in district court, or as an adversary action within the bankruptcy. 

The bottom line to this case is the broker promised something it couldn’t deliver, took a deposit, then refused to return it, landing the broker and its principals in court in Idaho.

Lease One Case
http://www.leasingnews.org/PDF/LeaseOneCase2015.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

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Position Wanted---Senior Management

Each Week Leasing News is pleased, as a service to its readership, to offer completely free ads placed by candidates for jobs in the industry.  These ads also can be accessed directly on the website at:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Each ad is limited to (100) words and ads repeat for up to 6 months unless the candidate tells us to stop. Your submissions should be received here by the end of each week.

Please encourage friends and colleagues to take advantage of this service, including recent graduates and others interested in leasing and related careers.

--

Senior-level leasing executive accomplished in sales, finance, operations and marketing. Seeking new opportunity to capitalize on my strategic, ideation, communication and analytical strengths to identify opportunities, formulate solutions and articulate strategies that inspire cross-functional teams to enhance corporate performance and shareholder value. Adept negotiator of multi-million dollar lease program agreements and contracts. Driver of increased sales productivity, incremental revenue, operating expense reductions and customer acquisition/retention.
reg.lindholm@gmail.com

 

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SOLVE Capital Group Acquires Metrix

SOLVE Capital Group, Irvine, California has acquired Metrix, Anaheim Hills, California. Jeff Brannon and Kurt Miklinski are Managing Partners with Bill Miller as Partner.

"We’re a funder first," Bill Miller said, now partner in Solve Capital Group, former COO of Metrix said. "We broker deals that don’t fit our guidelines i.e. operating capital requests as opposed to GROWTH capital needs.

"We also provide equity investments (we currently have over 14 portfolio companies that we own a piece of) into the right scenarios as well as provide advisory services. 

"While we do small ticket to middle ticket sale-leasebacks, we love equipment purchases and SLB deals. $50k-$500k is the sweet spot. Any equipment type and we’re willing to hear a story. Balance of cash flow, collateral and credit is what we’ll base the decision on.

 "Our mission is to understand the business's story, educate the owners on a variety of options and lend money within the business's economic framework.  We fashion ourselves as a story lender, while focusing on event driven needs.  Contracts, POs, Planned Expansions and Acquisitions are all events we lend/invest in to support with debt and/or equity structures. Our terms on equipment range from 12-36 months and weekly to quarterly payments are available.

"We are currently accepting broker business for equipment and growth capital transactions."

http://www.solvecapitalgroup.com/

 

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

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Leasing News Reaches Your Audience! The idea is to attract an applicant to learn more, either to click to a full description on your web site or to a full job description attachment (free, no charge). The ad also can advertise the abilities of your company. The ad will appear at the top of Leasing News edition as well as on the web site, which section also is reproduced in the news edition. Your ad is also in the section of News Briefs, often the second most read area of the news edition. The above the masthead is also shared on a rotational basis with the other employment ads. Your ad often appears twice in each news edition. You can have a brief ad which clicks to a full description and/or email address. Cost Logo on top is free, as well as the web address and information about the address at the bottom. Lines are $595 for the first four and $40 for each additional line or space. The ad will appear for 21 days. For returning advertisers during the year, Leasing News offers 30 days and a reduced rate. Contact: kitmenkin@leasingnews.org Leasing News reserve the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board or evergreen abuse list.

 

NAELB Elects New Board of Directors
   Pete Sawyer is President

The National Association of Equipment Leasing Brokers has elected new officers and directors for 2015-2016.

President

Pete Sawyer, CLFP
Sun South Equipment Leasing
Lakeland, Florida

President-Elect

Mike Parker
Credential Leasing
Fort Myers, Florida

Vice President

Rodney Blecha
Precision Leasing, Inc.
Lenexa, Kansas

Secretary Treasurer

Jaime Kaneshina, CLFP
Cambridge Capital
Chino Hills, California

Immediate Past President

Joan Modes
GEM Commercial Credit
Livonia, Michigan

Directors-at Large

Sheri Bancroft
Bancroft Leasing
Memphis, Tennessee

Henry Grace
U.S. Financial Companies,
Columbus, Ohio

Doug Richter
Accord Financial Group
Covington, Ohio

Remaining on the board and
as Legal Council

Joseph Bonanno, CLFP
Burlington, Massachusetts

Two board members terms are up and are
noted for their excellent service.
Leaving are:

Patrick Sponsel
Sharpe Financial Network
Phoenix, Arizona
Immediate Past President

Gary Greene, CLFP
Lease$mart
Tucson, Arizona
Now Coordinator for the
NAELB Leasing School

 

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Rosanne Wilson, CLFP, BPB Receives
NAELB President's Award

Leasing News is proud to announce that Rosanne Wilson, CLFP, BPB, long time Advisory Board member and Champion, has received the first National Association of Equipment Brokers ”President's Award.”

"NAELB’s President’s Award is presented to one individual (Funder, Broker, Associate), chosen by the president, who has been an emissary of the Association through volunteerism, committee service, industry advocacy or other initiatives that best represent NAELB’s credo SUCCESS BY ASSOCIATION.

"Wilson served on the NAELB Board for five years, as well as on the CLP Foundation's board as their President. Currently, Wilson serves on the Leasing News Advisory Board and is the Chair of NAELB’s Membership Committee. In addition, Wilson has been a volunteer mentor of new members and participates in the screening process for new NAELB members. 

"Among Wilson’s professional achievements was earning her CLFP designation in 1998. She was honored with the NAELB Lifetime Membership Award in 2012."

She is a 24 year member of the Beaverton Chamber of Commerce and is listed in the Who’s Who of Business Leaders. Rosanne enjoys mentoring brokers who are new to the industry as she believes in helping others become successful in this business and instill in them a strong sense of ethics.

Rosanne has been active in the equipment leasing industry since 1985. Rosanne founded 1st Independent leasing, Inc. in 1990 and is currently celebrating her 25th year in business. Previously, she spent 12 years with Transamerica Financial Services and was the Branch Manager of the Portland, Oregon office.

She is married and has 2 children and 4 grandchildren. She is now a Great Grandmother, with a baby boy born in February, Aiden Kyle Brandenburg. Her hobbies include travel with her husband, spending time with her family and 3 cats, and gardening. 

Rosanne Wilson, CLP
1st Independent Leasing, Inc.
3800 SW Cedar Hills Blvd., Suite 165
Beaverton, OR 97005
(800) 926-0851 or Fax: (503) 626-1631
rosanne@1stindependentleasing.com
"It's the Lease We Can Do"
www.1stindependentleasing.com

 

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Leasing Schools/Franchisors 
(For our "Financial and Sales Training" list, please click here)

Global Leasing

NAELB

Wheeler Leasing School

(does not include those specifically employed in training or education, but who have a similar program as the following entities:)

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Global Financial Training Program
Over 35 Years of Experience Financing Businesses

Program Cost: $19,950.00

Phil Dushey
President & CEO

In 2001, Global Leasing founder Phil Dushey created a new company to train independent entrepreneurs who want to enter the lucrative field of business financing. Global Financial Training Program teaches all aspects of finance including Equipment Leasing, Accounts Receivable Financing, Cash Advance, Commercial Real Estate, SBA Loans and much more. Phil’s students have found great success with his program.

Mr. Dushey is a founding member of the National Association of Equipment Leasing Brokers. He has been a member and speaker at many leasing organizations for several years. He is also a founding member of the leasing news advisory board.

Global Financial Training Program provides students with everything they need to start making money immediately after four days of training. As a full-service finance company you will provide a valuable service for business owners that have difficulty getting financing from their local banks. The banks are turning down over 90% of business loan applications and you can approve at least 50% of the turndowns. After the training at their offices in New York City trainees are instantly approved with over 25 lenders, get a custom designed website, stationery package, 1000 leads and enough marketing to have their phones ringing the first week after the training and much more... It's easier than you think to fulfill your dreams of independence, living the life you deserve and enjoying the prestige of owning your own company.

You don't need prior experience. All you need is the desire to be your own boss, the ability to learn, good people skills, and a passion to succeed and make a lot of money.

How much, is up to you...

Philip Dushey
President & CEO
Global Financial Services
1 State Street, 21st Floor
New York NY 10004
Email phil@gbtsinc.com
www.globalfinancialtrainingprogram.com 
Phone: 212-480-4900

The Global Group of independently owned companies are:

Global Financial Services | www.globaleasing.com
We have been actively providing financial services for 35 years

Global Church Financing | www.globalchurchfinancing.com
One of the largest independent companies financing equipment for churches nationwide

Global Financial Training Program | www.globalfinancialtrainingprogram.com
The oldest and most comprehensive training program for people who want to own their own finance company

Mr. Dushay is also on the Leasing News Advisory Board 
http://www.leasingnews.org/Advisory%20Board/Dushay_Phil.htm

Moving America Forward is a business television show hosted by William Shatner, anchored by Doug Llewellyn. On this episode we talk to Phil Dushey about his business opportunity and Global.

 

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NAELB Leasing School

Program Cost:
Standard Class: $18,950
Premium Package: $28,450

  

(Faculty and Staff include Charles “Bud” Callahan, CLFP, BPB, School Director, with Linda Kester, Marketing Director, Gary Greene, CLFP, BPB, Executive Director and Joseph G. Bonanno, Esq., CLFP, attorney)
http://www.naelbschool.com/bio/

NAELB Leasing School teaches entrepreneurs how to own, operate
and succeed in their own equipment leasing and finance brokerage business.

The National Association of Equipment Leasing Brokers is the only major leasing association to offer an equipment leasing program to become a leasing broker.

The National Association of Equipment Leasing Brokers offers the most comprehensive specialty financial educational symposium in the industry, providing:

• A week long intensive hands-on learning experience with after-hours discussions of real-world leasing situations and valuable course materials including handbooks, industry software and more
• Real-world training by experts in the field (our instructors have been active in the industry for at least 25years each)
• Training week concludes with FREE admission to the following NAELB Conference, offering the perfect opportunity to expand your networking with lenders, industry service providers and fellow brokers who are eager to provide support as you develop your business
• One full year of mentoring from experienced NAELB brokers who help you navigate the pitfalls and point you toward business solutions
• One full year of membership in the NAELB, the nation’s largest leasing broker association formed by brokers for brokers, and use of all member benefit programs
• Graduates are able to deal directly with multiple quality funding sources -­‐ no obligation to split fees with the school or school mentors 
  
  Although many other schools spend less than 1 day discussing the ins and outs of leasing, we spend approximately 40 hours focused on commercial equipment leasing in its modern variations.  We don't take any of our students' time discussing commercial mortgages, LBO's, SBA loans or any of the dozens of other financial products taught at other training programs.

The standard class price is $18,950. Hotel, airfare allowance, meals, NAELB membership, COURSE MATERIALS, INDUSTRY TOOL KITS, and mentorship, are all included at this price.  A premium package, priced at $28,450, includes 5 options selected by the student from a menu of available upgrades.  We offer a $2,000 discount for 'early bird' registration (60+ days in advance of the selected class).  Interested students should call 855-411-ELBS to inquire about other discounts which may be available.

For more information, please visit www.NAELBSchool.com or call 855‐411‐Equipment Leasing Broker School (3527)

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Wheeler Leasing School

Program Cost: $18,500

Overview

Wheeler Business Consulting L.L.C. provides training and continuous support to individuals seeking to enter the leasing/financing industry. The leasing/financing industry provides much needed funds to businesses looking to acquire essential equipment. Entrepreneurs nationwide are originating equipment financing and leasing transactions assisting small, medium and large companies. It is estimated that 80% of all businesses have leased equipment and that nearly one-third of all equipment purchased by corporations is funded by independent finance and leasing agreements.

There are tremendous opportunities to enter the leasing/financing industry. There are few barriers to entry. Individuals who are properly trained, who are networked with local, regional and national funding sources can arrange transactions for their corporate clients in the range of a few thousand dollars to multi-million dollars.

As with most businesses, the establishment of a lease brokering operation is a long term proposition. However, with the proper training, support and encouragement, an individual can start making above average incomes relatively quickly. Within two to five years an individual should expect to generate an income which is well in the six figure range.

With quality training, individuals will be able to offer consistent, high spirited customer service to their commercial clients. Successful lease brokers can build a business from a small home based operation to a full service office in a relatively short period of time.

My goal is to share my thirty plus years of industry experience with others who are serious about learning and succeeding in the leasing/financing industry.

Contact Information: 
Wheeler Business Consulting LLC 1314 Marquis Ct.
Fallston, Maryland 21047

Phone: 410-877-0428
Fax: 410-877-8161
email: scott@wheelerbusinessconsulting.com

Website: www.wheelerbusinessconsulting.com

Walmart's e-commerce up 17%
(Growth of Mobile and E-Commerce)
By Jacqueline Renfrow
www.fierceretail.com

In the midst of rolling out a global technology platform to make e-commerce and mobile shopping easier, Walmart (NYSE:WMT) announced that digital sales grew 17 percent in the first quarter.

Specifically in the United States, e-commerce saw double-digit comp growth across many departments, and mobile traffic was up more than 100 percent, complete with higher conversion rates.

Doug McMillon, president and CEO of Walmart, said during a quarterly earnings call that the big-box retailer was investing in stronger mobile and e-commerce by rolling out a simplified checkout process on Walmart.com.

McMillon said the company's Asda brand grew home shopping in the double digits and the success is being leveraged to test delivery and pickup services in more locations. In addition, Walmart recently announced a new fulfillment center in Brazil to accommodate growth, the second one dedicated solely to e-commerce. Two new fulfillment centers in the United States are also slated for opening during this quarter, followed by others later in the year.

McMillon is reinforcing the company's commitment to people and technology. Under his direction, Walmart is raising employees' hourly wages and improving store structure, which includes adding in department managers.

"This set of initiatives is designed to improve the customer experience and translate into higher comp store sales over time," McMillon said. "We know that we won't see it overnight, but we're confident these are the right things to do for our business and our team."

Overall, Walmart's revenue reached $114.8 billion for the quarter, with Walmart U.S. sales up 3.5 percent and comp sales up 1.1 percent.

(Not mentioned: Wal-Mart's net profit fell to $3.34 billion, or $1.03 per share, in the first quarter ended April 30 from $3.59 billion, or $1.11 per share, a year earlier. Sales of groceries, which account for more than half of the company's total, were flat, Chief Financial Officer Charles Holley said on a call with reporters. Many large retailers also reported revenues as flat.  These numbers were not serious, counting all the changes in pay, positions, as well as in company direction. The move from direct to digital is not very easy for all segments, although shows much promise for Walmart. Editor).

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Finding Fleet Leasing Options
RefrigeratedTransporter.com

Truck leasing has evolved into a big business, and many transportation companies are finding it more profitable to lease part or all of their fleets from another firm. For one thing, monthly costs are fixed, with no hidden surprises for maintenance or purchasing; in addition, all leasing costs can be written off as expenses on tax day, instead of relying on depreciation to lessen the taxation burden.

As each company has different needs, leasing companies can be found to fit any type of requirement, from simple trailer leases to tractors, straight trucks, and even drivers and management personnel.

A number of Web sites have appeared providing information for lessees.

• Xtra Lease, for example, provides information for its line of refrigerated trucks, branch locations, and an online application form.

• Transport International Pool (TIP) gives facts about the group's products and services, from refrigerated users (its main consumer target) to value-added services and branch locations.

• PacLease, the leasing unit of Paccar, the maker of Kenworth and Peterbilt trucks, has a Web site featuring anything from leasing to fleet consulting, maintenance, dedicated transport, short-term rental trucks, tire service, truck painting, and insurance, to name just some services. PacLease claims to have experience in food and retail distribution and has international information for Mexico and Canada.

• Finally, Rollins Leasing provides leasing, rental, maintenance, dedicated transport, and logistics services on its Web site.

 

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

New IdentityTheft.gov Website

Recovering from identity theft is easier with a plan. If someone has stolen your identity, or you’ve gotten a notice about a data breach, visit the FTC’s new site at IdentityTheft.gov for help.

IdentityTheft.gov is the federal government’s one-stop resource to help you report and recover from identity theft.

It’s also available in Spanish at RobodeIdentidad.gov.

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)

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NACHA Membership Approves Same Day ACH

Industry Comes Together to Move Payments Faster
 on the ACH Network

HERNDON, Va., - NACHA —The Electronic Payments Association ® announced that its voting membership approved Same Day ACH, an amendment to the NACHA Operating Rules to move payments faster. The rule enables a ubiquitous same-day capability for virtually any ACH transaction, creating options for the businesses, governments and consumers who want to move their money faster.

Janet O. Estep
President and CEO
NACHA

“The financial services industry has come together through private-sector rulemaking to increase the speed of payments,” said Janet O. Estep, president and CEO of NACHA. “Same Day ACH serves as an immediate action the industry has undertaken to modernize the payments system, and creates a building block for a variety of products and services. Same Day ACH creates value for end users through the certainty of its reach to all bank accounts in the U.S.”

Same Day ACH will build upon existing, next-day ACH Network capabilities and establish a new option for same-day clearing and settlement via ACH. Under the rule, two new same-day settlement windows will be added to the ACH Network, increasing the movement of funds between financial institutions from once each day to three times each day. The rule also requires that all Receiving Depository Financial Institutions (RDFIs) receive same day transactions and provide faster funds availability to customers. Additionally, the rule establishes the methodology for a Same Day Entry fee as a mechanism for RDFIs to recover some of their costs for enabling and supporting mandatory receipt of same-day ACH transactions.

The final rule closely mirrors the proposal outlined in the industry Request for Comment (RFC). With broad ACH Network user support for that proposal, modifications to the final rule were predominantly technical and operational in nature. Specifically, there were three key changes, reflecting feedback from the RFC process. First, the morning same-day window was modified to allow for more time to process transactions, with settlement occurring at 1:00 p.m. ET. This new settlement time would become effective in Phase 1 instead of Phase 3, as originally proposed. Secondly, the rule creates an option for an additional method for ODFIs to use, at their discretion, with their Originators to determine intent for same-day settlement. Finally, there was an adjustment to the methodology for calculating the Same Day Entry fee to exclude opportunity costs from its calculation.

“Through dialogue, input and outreach, NACHA was able to balance differing perspectives and incorporate industry feedback from many types of organizations,” said Estep. “The result of this dialogue is a final rule that will benefit consumers and businesses that need to quickly pay bills and receive funds faster.” 

Same Day ACH will be implemented in a phased approach. In Phase 1, ACH credit transactions will be eligible for same day processing, supporting use cases such as hourly payroll, person-to-person (P2P) payments and same-day bill pay. In Phase 2, same-day ACH debits will be added, allowing for a wide variety of consumer bill payment use cases like utility, mortgage, loan and credit card payments. Phase 3 introduces faster ACH credit funds availability requirements for RDFIs; funds from Same Day ACH credit transactions will need to be available to customers by 5 p.m. RDFI local time. Phase 1 is scheduled to begin September 23, 2016.

NACHA estimates Same Day ACH payments will be generated from 10 primary use cases, and 63 sub-use cases, including same-day payrolls, expedited bill payments, business-to-business (B2B) payments, and account-to-account (A2A) transfers. The majority of Same Day ACH payments are expected to enhance existing ACH applications, giving consumers and businesses the choice of speed.

For more information about the Same Day ACH Rule, visit www.nacha.org/same-day-ach.

About NACHA—The Electronic Payments Association

Since 1974, NACHA – The Electronic Payments Association has served as trustee of the ACH Network, managing the development, administration and rules for the payment network that universally connects all 12,000 financial institutions in the U.S. The Network, which moves money and information directly from one bank account to another, supports more than 90 percent of the total value of all electronic payments in the U.S. Through its collaborative, self-governing model, education, and inclusive engagement of ACH Network participants, NACHA facilitates the expansion and diversification of electronic payments, supporting Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit payments, recurring and one-time payments; government, consumer and business transactions; international payments, and payments plus payment-related information. Through NACHA’s expertise and leadership, the ACH Network is now one of the largest, safest, and most reliable systems in the world, creating value and enabling innovation for all participants. Visit nacha.org for more information.

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Leasing Leaders to Discuss the Chinese Leasing Industry
in the Economic Slowdown

As China's GDP slows down to its lowest since 1990, the country's top equipment vendors and financial leasing companies are to meet with government officials and industry associations in order to discuss the best practices to surviving in the current economic climate which is going through a period of profound change.

Indeed, despite the challenges facing the Chinese economy, the leasing industry here has maintained steady growth with total turnover rising from RMB 2.1 trillion in December 2013 to RMB 2.35 trillion in March 2014 to RMB.

Despite this, at the end of the third quarter of 2014, the value of assets held by China's leasing companies rose 45 percent to 1.22 trillion yuan ($196.91 billion) from the end of the first quarter of 2013. This comes a year after the global regulations known as BASEL III were put in place that forced Chinese banks to meet higher capital adequacy rules. This may be an indication that lessors are increasingly exposing banks to underperforming industries and exposing them to an increasing amount of risk.

All of these issues, and more, are to be thrashed out at the 8th China Leasing Summit 2015 on June 10-12, 2015 at the Crowne Plaza Beijing. This summit is part of Duxes' venerable Leasing Series which has gone from strength to strength for over seven years and has included speakers from China's leasing regulatory bodies, industry associations and the business' leasing individuals.

Not only will the summit provide a comprehensive analysis of the latest changes in government policy and market developments but will provide applicable solutions to fleet leasing, the new energy vehicles market and establishing a captive leasing company. In short, this is the event to attend to get all the important information, meet influential people and, to run a successful and profitable leasing business in China.

For more information, please go here:
http://www.duxes-events.com/lease15/index.html

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Boxer Mix
Marblehead, Massachusetts  Adopt-a-Dog

Tuffy
Male
Boxer Mix
Age: 7 1/2 years

“Tuffy is a Boxer mix that is seven and a half years old. As you can see, he has the most soulful eyes constantly looking at people and cars as if he is searching for his special someone. He isn’t quite sure why he landed at the shelter. Tuffy didn’t do anything wrong, he loved his owner, kept him safe, played with him, was a true and loyal friend . . . all the things Tuffy was supposed to do and more he did.

“So, Tuffy is now searching for his forever person. Abandoned when he was young and now being given to the shelter, Tuffy has paid his dues and is so ready for someone to truly love him. Tuffy is a little standoffish until he gets to know you and then he’ll spin in circles when you greet him. Tuffy has transitioned living with his foster family both men, woman, children, cats, and even a tortoise. He would do best with someone who works from home or for short periods of time until he settles in and knows that he hasn’t been abandoned. He is currently living with a dog, but would do best as a single dog.

“He is a fantastic listener, driving companion, walker, hiker and a loyal friend. So if you’re looking for someone to love you unconditionally, someone to stay in shape with Tuffy is the guy for you. Fine with cats already used to dogs. Tuffy is very smart and knows his commands. Tuffy would do best with an experienced dog owner — someone who could bring him to his full potential,  someone that is used to large dogs. He will do fine with older children. Tuffy weighs approximately 85 pounds. He would love a fenced-in yard to play ball in or one just to lay in the sun with you.

“Tuffy is up to date with routine shots, house trained and neutered.

“If you are interested in Tuffy, please fill out an adoption application and you will be contacted.”

On Line Application:
http://marblehead-animal-shelter.org/adoption-application-for-dogs

Friends of Marblehead's Abandoned Animals
44 Village Street
Marblehead, MA 01945
Hours: Mon, Tues, Thursday 4-6:30pm
Fri: 5-7pm; Sat: 12-6pm; Sun: 12-3pm
Contact Us:
http://marblehead-animal-shelter.org/adoption-application-for-dogs

 

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

 

 

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Take the Ralph Mango Baseball Challenge

Leasing News Associate Editor Ralph Mango challenges readers to identify the baseball players in the following poem, published Monday, May 11, 2015. The first person with the most baseball players matches to the nicknames will receive a $25 Email Starbuck Gift Card.

Rule #1, no “Google” or other browsers…Please try matching from memory.
Rule #1A, Really, no cheating!!

Rule #2: In the event of a tie, earliest date of entry will determine the winner.

Some of these nicknames are associated with more than one player.  All that is required is one of the players who played with that nickname.  The match of the player and the nickname must be identifiable from a reliable source as determined by Da Judge.

Contest ends on Memorial Day, May 25,  and the winner will be announced by June 10. Judge will be Ralph Mango.

Send your guesses to: kitmenkin@leasingnews.org

Baseball Poem

Anthem
by
William (Sugar) Wallace  

Catfish, Mudcat, Ducky, Coot.
The Babe, The Barber, The Blade, The Brat.
Windy, Dummy, Gabby, Hoot.
Big Train, Big Six, Big Ed, Fat.

Greasy, Sandy, Muddy, Rocky.
Bunions, Twinkletoes, Footsie, The Hat.
Fuzzy, Dizzy, Buddy, Cocky.
The Bull, The Stork, The Weasle, The Cat.
Schoolboy, Sheriff,
Rajah, Duke,
General, Major,
Spaceman, Spook.

The Georgia Peach, The Fordham Flash,
The Flying Dutchman. Cot.
The People's Cherce, The Blazer. Crash.
The Staten Island Scot.
Skeeter, Scooter,
Pepper, Duster,
Ebba, Bama, Boomer, Buster. 

The Little Professor, The Iron Horse. Cap.
Iron Man, Iron Mike, Iron Hands. Hutch.
Jap, The Mad Russian, Irish, Swede. Nap.
Germany, Frenchy, Big Serb, Dutch,
Turk. Tuck, Tug, Twig.
Spider, Birdy, Rabbit, Pig. 

Fat Jack, Black Jack, Zeke, Zack. Bloop. 
Peanuts, Candy, Chewing Gum, Pop.
Chicken, Cracker, Hot Potato, Soup.
Ding, Bingo.
Hippity-Hopp.

Three-Finger, No-Neck, The Knuck, The Lip.
Casey, Gavvy, Pumpsie, Zim.
Flit, Bad Henry. Fat Freddie, Flip.
Jolly Cholly, Sunny Jim.
Shag, Schnozz,
King Kong, Klu.
Boog, Buzz,
Boots, Bump, Boo. 

King Carl, The Count. The Rope, The Whip.
Wee Willie, Wild Bill, Gloomy Gus. Cy.
Bobo, Bombo, Bozo. Skip.
Coco, Kiki, Yo-yo. Pie.
Dinty, Dooley,
Tuffy, Snuffy,
Stubby, Dazzy,
Daffy, Duffy. 

Baby Doll, Angel Sleeves, Pep, Sliding Billy,
Buttercup, Bollicky, Boileryard, Juice.
Colby Jack, Dauntless Dave, Cheese,
Gentle Willie,
Trolley Line, Wagon Tongue, Rough,
What's the Use.

Ee-yah,
Poosh 'Em Up,
Skoonj, Slats, Ski.
Ding Dong,
Ding-a-Ling,
Dim Dom, Dee.  

Famous Amos. Rosy, Rusty.
Handsome Ransom. Home Run, Huck.
Rapid Robert. Cactus, Dusty.
Rowdy Richard. Hot Rod, Truck.
Jo-Jo, Jumping Joe,
Little Looie,
Muggsy, Moe.

Old Folks, Old Pard, Oom Paul. Yaz.
Cowboy, Indian Bob, Chief, Ozark Ike.
Rawhide, Reindeer Bill. Motormouth. Maz.
Pistol Pete, Jungle Jim, Wahoo Sam. Spike.
The Mad Hungarian.
Mickey, Minnie.
Kitten, Bunny.
Big Dan, Moose.
Jumbo, Pee Wee; Chubby, Skinny.
Little Poison.
Crow, Hawk, Goose. 
Marvelous Marv.
Oisk, Oats, Tookie.
Vinegar Bend.
Suds, Hooks, Hug.
Hammerin' Hank.
Cooch, Cod, Cookie.
Harry the Horse.
Speed, Stretch, Slug.

The Splendid Splinter. Pruschka. Sparky.
Chico, Choo Choo, Cha-Cha, Chub.
Dr. Strangeglove. Deacon. Arky.
Abba Dabba. Supersub.
Bubbles, Dimples, Cuddles, Pinky.
Poison Ivy, Vulture, Stinky.
Jigger, Jabbo
Jolting Joe
Blue Moon
Boom Boom
Bubba
Bo

News Briefs----

Phone Leasing Program Moves Forward Sprint-RadioShack 1,435 Stores to Be Fully Staffed by Mid-June
http://www.wirelessweek.com/news/2015/05/sprint-radioshack-stores-be-fully-staffed-mid-june 

Takata Airbag Recall Rises to Affect More Than 30 Million Vehicles
http://www.nytimes.com/2015/05/20/business/takata-airbag-recall.html?emc=edit_na_20150519&nlid=31282772&_r=0

Sprint, Verizon paying $120M to settle lawsuit over third-party charges
http://legalnewsline.com/news/federal-government/256292-sprint-verizon-paying-120m-to-settle-lawsuit-over-third-party-charges

No Loyalty? Millennials Not Afraid to Dump Their Banks
http://thefinancialbrand.com/51778/millennial-bank-switching-study/

Top 10 ways David Letterman will end his historic late-night run
http://ftw.usatoday.com/2015/05/how-will-david-letterman-end-his-show-late-night-history-33-years-last-guests-last-musical-guests

 

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

[headlines]
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What Really Happened with Print: History Lessons for 3D Printing Equipment Manufacturers
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SparkPeople--Live Healthier and Longer

What a Serving Size Really Looks Like
http://www.sparkpeople.com/blog/blog.asp?
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[headlines]
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Baseball Poem  Barry Bonds Hits his 700 th Home Run by Kit Menkin He swaggered to the plate,  like Elvis Presley going on stage  Joe Louis entering the ring,  Taking care of business The fans knew he would hit 700---  They stood as the Giants were leading  in the first inning  But the Pitcher hit Bonds in the chest He shrugged it off,  like Elvis Presley going on stage,  Walking to first base,  Knowing he would score a run. The field was more lit up than Las Vegas,  Bright, surreal, as if this was a movie set,  The players moving in slow motion  as the pitcher tried to take control. The third inning the fans stood up again,  This time the ball came in for a strike,  as the pitcher had the guts with a fast ball,  It happened so fast. Bonds swung in stride,  Moving in this baseball ballet,  Knowing the ball was his,  Taking care of business. He ran the bases,  Went back to the dug out,  as the crowd went wild,  699 was changed to 700,  a new “legend” sign was revealed. He did not come out again,  until the new inning  Walking to the right field,  next to the new “legend” banner. He threw the ball several times  to the coach on the side line,  As the crowd continued to roar,  camera flash lights from the stadium. He popped out the next time,  almost as if he swung too soon.  His run to first was fast than slow  as he watched the ball tell him no. He came up to bat one more time,  Determined, seemingly angry,  Ready to make up for the last time,  It wasn't a swagger. Don't treat me this way,  I'm going to hit it far,  Two strikes and he swung so hard,  if he had connected,  It would have gone to Treasure Island,  The swing had so much power,  You could feel it in the stands. Afterwards he was happy,  His team won Four to One;  on Saturday he hit 701  Taking care of business.

 

 

[headlines]
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Sports Briefs----

NFLPA wants NFL, Roger Goodell held in contempt of court in Peterson case
http://www.usatoday.com/story/sports/nfl/2015/05/19/nflpa-roger-goodell-contempt-court-adrian-peterson-personal-conduct-eighth-circuit-david-doty/27604943/

Robert Kraft surrenders in a battle he couldn’t win
http://www.bostonglobe.com/sports/2015/05/19/robert-kraft-surrenders-battle-couldn-win/MOpqZnW4k8NhqaFpdMI4qO/story.html

Former QBs Troy Aikman, Mark Brunell Provide Deflategate Hot Takes
http://nesn.com/playlist/former-qbs-troy-aikman-mark-brunell-provide-deflategate-hot-takes/1/

NFL makes point-after attempt more difficult
http://www.sacbee.com/sports/nfl/san-francisco-49ers/article21422991.html 

Raiders owner tells fans his No. 1 choice is to stay in Oakland
http://www.pressdemocrat.com/sports/3956964-181/raiders-owner-tells-fans-his

Raiders topic of discussion at NFL owners meeting
http://www.insidebayarea.com/breaking-news/ci_28148501/raiders-not-oakland-topic-discussion-at-nfl-owners

Chargers, Raiders transfer site to Carson, retain lease for stadium option
http://www.utsandiego.com/news/2015/may/19/carson-stadium-sale/

Study says 'Pro Football Hall of Fame Village' will pump billions into Stark County economy
http://www.crainscleveland.com/article/20150519/NEWS/150519798/study-says-hall-of-fame-village-will-pump-billions-into-stark-county

[headlines]
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California Nuts Briefs---

Poll: Large majority of Californians support water restrictions amid drought
http://www.sacbee.com/news/politics-government/field-polls/article21342882.html#emlnl=Morning_Newsletter

[headlines]
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“Gimme that Wine”

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

A dozen including CEO of Diamond Estates Winery arrested in Montreal for alleged tax fraud involving 1.8m wine bottles
http://www.thedrinksbusiness.com/2015/05/ceo-of-diamond-estates-arrested-for-fraud/

French Winery Boss Jailed Over Fake Chablis
http://www.wine-searcher.com/m/2015/05/winery-boss-jailed-over-fake-chablis 

2014 California Wine Sales Grow 4.4% by Volume and 6.7% by Value in the U.S.
http://www.wineinstitute.org/resources/pressroom/05192015

Gallo expands vineyard holdings in Napa Valley
http://www.pressdemocrat.com/home/3956080-181/gallo-expands-vineyard-holdings-in

U.S. Wine Industry Facing Steep Tariffs from Canada
http://wineamerica.org/international-trade/american-wine-industry-facing-steep-tariffs-from-canada

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