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Monday, November 5, 2012
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Salvation Army Plea
Be very careful of those who are on the internet or advertising elsewhere for donations to help those suffering due to Hurricane Sandy. Many organizations earn high percentages for their executives and fund raising activities. The Salvation Army has the highest dollar amount that goes to those who need it, spending very little for administration as those who belong are full time dedicated to their crusade to help others.
MidAmerican Warns of Scam
MidAmerican Energy Co. is warning the public about an unsolicited credit line offer that may target employees or customers of the company.
An individual affiliated with MidAmerican Energy recently received a mailing from Five Point Capital advising the recipient to call an 800 number to confirm receipt of a lease card and activate an account. The mailing included an FPT Platinum Equipment Lease Card with the person's name and MidAmerican Energy Co. printed on the card. The mailing stated that the person had been prequalified for a lease line of credit up to $100,000, and once the card was activated, the card could be used to finance new or used equipment from a vendor of the person's choice.
MidAmerican Energy employees and customers are advised that the mailing has no connection to MidAmerican Energy. Customers are advised to become fully informed in relation to unsolicited offers and to not provide personal information or respond to the sender without performing research on their own.
If a customer receives a suspicious call, mailing, email or other type of unusual contact or offer from a person or company claiming to be from or working on behalf of MidAmerican Energy, the customer should contact local law enforcement authorities immediately. Customers also should call MidAmerican Energy at (888) 427-5632 to report the incident and seek assistance.
MidAmerican Energy Co., Iowa's largest energy company, provides electric service to 732,000 customers and natural gas service to 714,000 customers in Iowa, Illinois, Nebraska and South Dakota. It is headquartered in Des Moines.
Issued by www.messengernews.net
What You Missed in Marlin Leasing’s Last Press Release
Leasing News printed the url to the press release of September 30, 2012, and footnotes it below, as it is a fairly good summation (would have been better if they brought forward their profits from Evergreen Clauses, primarily on copier leases) ---press release at (1).
On November 2, 2012, Marlin released its SEC filing and yes, the Evergreen clauses are still providing profit (see Residual Performance in details that follow).
For those interested in why Marlin is successful, it is outlined in their SEC filings, which obviously a lot of work went into to produce and meet all the legal requirements. It is a masterwork, in my opinion.
Here are some “detail” highlights from the 56 page report.
(Note: if you don’t have time today, come back when you do, as there is a lot to be learned in this SEC report, especially if you make your living in banking and finance.)
Kit Menkin. Editor.
“Return on average assets was 2.50% for the three-month period ended September 30, 2012, compared to 1.56% for the three-month period ended September 30, 2011. Return on average equity was 8.08% for the three-month period ended September 30, 2012, compared to 4.53% for the three-month period ended September 30, 2011.
“Overall, our average net investment in total finance receivables for the three-month period ended September 30, 2012 increased 24.8% to $448.7 million, compared to $359.5 million for the three-month period ended September 30, 2011. This change was primarily a result of an increase in the number of sales account executives and higher application approval rates, combined with the continued seasoning and development of our sales account executives.
“During the three months ended September 30, 2012, we generated 6,227 new leases with a cost of $81.6 million, compared to 4,580 new leases with a cost of $59.7 million generated for the three months ended September 30, 2011. Sales staffing levels increased from 95 sales account executives at September 30, 2011 to 112 sales account executives at September 30, 2012. Approval rates also rose from 60% for the quarter ended September 30, 2011 to 67% for the quarter ended September 30, 2012 due to the improved credit quality of the applications received and adjustments made to credit policy in light of the improved performance of recent years’ lease originations.
“For the three-month period ended September 30, 2012 compared to the three-month period ended September 30, 2011, net interest and fee income increased $3.7 million, or 32.2%, primarily due to the impact of the 24.8% million increase in average total finance receivables, combined with a lower cost of funds on liabilities. The provision for credit losses increased $0.6 million, or 75.0%, to $1.4 million for the three-month period ended September 30, 2012 from $0.8 million for the same period in 2011, primarily due to portfolio growth, partially offset by lower charge-offs and improved delinquencies. Other expenses increased $0.6 million, or 6.7%, for the three-month period ended September 30, 2012 compared to the three-month period ended September 30, 2011, primarily due to increased lease origination volume and increased sales compensation expense.
“During the nine months ended September 30, 2012, we generated 18,057 new leases with a cost of $234.4 million, compared to 13,086 new leases with a cost of $160.6 million generated for the nine months ended September 30, 2011. Sales staffing levels increased to 112 sales account executives at September 30, 2012 from 95 sales account executives at September 30, 2011. Approval rates also rose from 59% for the nine-month period ended September 30, 2011 to 67% for the nine-month period ended September 30, 2012 due to the improved credit quality of the applications received and adjustments made to credit policy in light of the improved performance of recent years’ lease originations
“For the nine-month period ended September 30, 2012 compared to the nine-month period ended September 30, 2011, net interest and fee income increased $9.1 million, or 27.7%, primarily due to a 18.6% increase in average total finance receivables, combined with a lower cost of funds on liabilities. The provision for credit losses increased $0.6 million, or 20.7%, to $3.5 million for the nine-month period ended September 30, 2012 from $2.9 million for the same period in 2011. The impact of portfolio growth was partially offset by lower charge-offs and improved delinquencies. Other expenses increased $2.3 million, or 8.5%, for the nine-month period ended September 30, 2012, compared to the nine-month period ended September 30, 2011, primarily due to increased lease origination volume, increased sales compensation expense and additional compensation related to the achievement of certain performance criteria determined annually.
“Insurance income. Insurance income increased $0.4 million to $3.1 million for the nine-month period ended September 30, 2012 from $2.7 million for the nine-month period ended September 30, 2011, primarily due to higher billings and lower claims.
“Other income. Other income decreased to $1.1 million for the nine-month period ended September 30, 2012 from $1.3 million for the nine-month period ended September 30, 2011. Other income includes various administrative transaction fees and fees received from lease syndications.
“Salaries and benefits expense. Salaries and benefits expense increased $1.8 million, or 10.7%, to $18.7 million for the nine months ended September 30, 2012 from $16.9 million for the same period in 2011. The increase was primarily due to increased sales compensation and additional compensation related to the achievement of certain performance criteria determined annually. Salaries and benefits expense, as an annualized percentage of average total finance receivables, was 5.94% for the nine-month period ended September 30, 2012 compared with 6.37% for the same period in 2011. Total personnel increased to 258 at September 30, 2012 from 247 at September 30, 2011, primarily due to increased sales staffing levels, which were 112 sales account executives at September 30, 2012, compared to 95 sales account executives at September 30, 2011.
In the first nine months of 2012, we increased the number of our sales account executives by 19, from 93 sales account executives at December 31, 2011 to 112 at September 30, 2012. This action continued our plan to rebuild the sales organization to increase originations and match the level of originations to our current funding capacity.
“General and administrative expense. General and administrative expense increased $0.4 million, or 4.1%, to $10.2 million for the nine months ended September 30, 2012 from $9.8 million for the same period in 2011. General and administrative expense as an annualized percentage of average total finance receivables was 3.24% for the nine-month period ended September 30, 2012, compared to 3.71% for the nine-month period ended September 30, 2011. Selected major components of general and administrative expense for the nine-month period ended September 30, 2012 included $2.0 million of premises and occupancy expense, $1.0 million of audit and tax expense and $0.9 million of data processing expense. In comparison, selected major components of general and administrative expense for the nine-month period ended September 30, 2011 included $2.1 million of premises and occupancy expense, $1.3 million of audit and tax expense and $0.7 million of data processing expense."
“Our leases offer our end user customers the option to own the equipment at lease expiration. As of September 30, 2012, approximately 67% of our leases were one dollar purchase option leases, 31% were fair market value leases and 2% were fixed purchase option leases, the latter of which typically contain an end-of-term purchase option equal to 10% of the original equipment cost. As of September 30, 2012, there were $30.5 million of residual assets retained on our Condensed Consolidated Balance Sheet, of which $24.4 million, or 80.0%, were related to copiers. As of December31, 2011, there were $32.7 million of residual assets retained on our Condensed Consolidated Balance Sheet, of which $26.5 million, or 80.9%, were related to copiers. No other group of equipment represented more than 10% of equipment residuals as of September 30, 2012 and December 31, 2011, respectively. Improvements in technology and other market changes, particularly in copiers, could adversely impact our ability to realize the recorded residual values of this equipment.
“Fee income included approximately $0.8 million and $1.2 million of net residual income for the three-month periods ended September 30, 2012 and September 30, 2011, respectively. Fee income included approximately $2.7 million and $3.5 million of net residual income for the nine-month periods ended September 30, 2012 and September 30, 2011, respectively. Net residual income includes income from lease renewals and gains and losses on the realization of residual values of leased equipment disposed at the end of term as further described below.
“Our leases generally include renewal provisions and many leases continue beyond their initial contractual term. Based on the Company’s experience, the amount of ultimate realization of the residual value tends to relate more to the customer’s election at the end of the lease term to enter into a renewal period, purchase the leased equipment or return the leased equipment than it does to the equipment type. We consider renewal income a component of residual performance. Renewal income net of depreciation totaled approximately $1.6 million and $1.9 million for the three-month periods ended September 30, 2012 and September 30, 2011, respectively. Renewal income net of depreciation totaled approximately $5.2 million and $5.7 million for the nine-month periods ended September 30, 2012 and September 30, 2011, respectively. The decline in renewal income was primarily due to fewer leases reaching the end of their original contractual terms during 2012, as a result of the lower originations during the 2008 to 2010 timeframe.”
Marlin 10Q September 30, 2012---56 pages:
The actual margin most lessors obtain from their funding sources is a direct result of the structure of the lease and the way the transaction is passed on. Usually it is a discount of the payment stream at a rate that is cheaper than the lease rate. The payment stream is present valued and the difference between that and the equipment cost is the lessor’s margin. The margin is usually paid up front. The real question is how to maximize the lessor’s income from structuring the deal.
The structure will affect the margin because the net present value of the rent stream is a function of how fast the principal is returned. Lower payments in the beginning and higher payments in the end will increase the earned income and therefore the lessors fee. In addition, a residual will increase income because they slow down the recovery of the investment while lowering the payment for the lessee.
Retaining the right to negotiate the sale or return of the equipment at termination also increases the opportunity to make additional money. I know most of you know this however I think the art of “equipment leasing” instead of equipment finance scares some people and lessors.
I am constantly talking to bankers and other lessors who think residuals are a risk that is too large to assume. Actually properly investigated equipment, after knowing how it is going to be used, can make the properly assumed residual a better risk than the credit risk. Also, the larger the residual, the larger the income, as I mentioned, because it slows down the return of the equipment cost. Most lessors assume a residual that is no more than 50% of the anticipated wholesale value at termination. This makes an opportunity for additional income at termination if purchase options are 20% above the residual assumption.
Some nay Sayers mention that an increased residual means an increased loss if a default occurs. I respond that most lessors only have a .5% loss ratio so 99.5% of the time they make more money. But once again an opportunity to increase income is an important factor to leasing and usually does not occur in equipment finance.
Residuals do require some changes in the lease agreement. There must be a large paragraph on equipment maintenance, equipment return, and requirements for lease payment changes if the use changes over the term. It also gives value to all the other requirements in the lease. The use requires an additional paragraph on the proper and maximum use for the equipment with adjustments in the rent for over use to protect the residual.
Leases are structured agreements that create payment streams that are adjusted to the equipment use and the cash flow needs of the lessee. Equipment finance usually has level payments over even years whereas properly structured leases have irregular terms and irregular payments.
Leases can be more effective to make a larger income if all of the benefits are used to create a transaction that is a lease instead of a disguised loan. This takes a lease salesperson instead of a loan salesperson. Perhaps you should learn more about what a lease is and how it works. I would recommend the CLP handbook.
(To learn more about the CLP Handbook)
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at firstname.lastname@example.org or 502-649-0448
He invites your questions and queries.
Previous #102 Columns:
(This ad is a “trade” for the writing of this column. Opinions
Another Florida and Another Illinois Bank Fail
The three branches of Heritage Bank of Florida, Lutz, Florida, were closed with Centennial Bank, Conway, Arkansas, to assume all of the deposits. Founded August 3, 1999, the bank had 38 full time employees as of June 30, 2012 at their two offices in Wesly Chapel and one office in Lutz and Tampa.
Tier 1 Risk Capital: .728% (Yes, that is correct. editor)
Clark G. Hobby, son, H. Clyde Hobby, father
H. Clyde Hobby, P.A., was chairman of the bank and also president of Florida Governmental Consultants and partner in law firm Hobby and Hobby PA, New Port Richey, Florida.
"Mr. Hobby has served on several boards of directors for Florida banking corporations and as their general counsel. In connection with these projects and clients, he is experienced in Florida and Federal banking law and regulation, reviewing and advising clients regarding various types of instruments and loan documents..."
What is known as the TFR Report, which is the consolidated reports of Condition and Income FFIEC 041 are most revealing. They are the information before the final report. The Heritage Bank of Florida September 30 shows the high 1-4 family loan losses are more in "junior liens" than "1st" ($606,000 to $1.0) as well as the nonfarm/nonresidential loan losses are more in non-owner occupied properties ($172,000 to $756,000), as well as most individual loans are automobile losses followed by credit cards (here it is all automobile loans)
It is obvious that residential mortgages took this bank down with the highest write-offs, more than construction/land, as well as commercial/industrial and nonfarm nonresidential (basically again real estate rentals) were significant to bring a bank from a $24.6 million equity in 2009 to $1.2million the end of this September.
As significant the Non-Current Loans were very high, resulting in further loss in profit.
(in millions, unless otherwise)
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.
As of September 30, 2012, Heritage Bank of Florida had approximately $225.5 million in total assets and $223.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Centennial Bank agreed to purchase approximately $193.7 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $65.5 million.
8th bank in Florida to fail this year.
The 20 offices of Citizens First National Bank, Princeton, Illinois, were closed with Heartland Bank and Trust Company, Bloomington, Illinois, to assume all of the deposits. The bank was established January 1, 1865 and made it through three depressions and several recessions. As of June 30, 2012 they had 284 full-time employees at their three offices in Princeton, two in Sandwich, and offices in Aurora, Depue, Geonoa, Hampshire, Henry, Hungly, Millbrook, Minooka, Newark, Oglesby, Peru, Plainfield, Plano, Somonauk, and Spring Valley.
Note: for the last few years over 300 full time employees with a high of 326 year-end December 31, 2009).
Tier 1 risk-based capital ratio 3.1%
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $45.2 million.
Mr. Thomas D. Ogaard
"The year 2000 marked the most profitable year in the history of the bank. Assets reached $515,180,000 and a record net income of $8,186,000 was achieved. Total deposits increased in 2001 by $56.4 million. Thomas R. Lasier retired from the board in 2001. Craig O. Wesner was appointed chairman of the board.
“In 2003, Princeton National Bancorp purchased land in Elburn and Aurora. Construction began on the Aurora facility in 2005.
Total deposits reached a record high of $537,800,000 in 2003, as did loans with a record high of $383,100,000.
“In 2005, the company acquired Somonauk FSB Bancorp, which caused the Citizens banking family to grow in the towns of Somonauk, Sandwich, Millbrook, Newark and Plano. Assets at the end of 2005 were nearing a billion dollars. On Oct. 11, 2006, the total assets of Princeton National Bancorp surpassed that $1 billion mark.
In 2007, the bank grew again with a location in Plainfield.
Tony J. Sorcic retired from Princeton National Bancorp and Citizens First National Bank on Feb. 1, 2010. Thomas D. Ogaard was appointed president/CEO on Feb. 2, 2010.
“In the late 2000s, the bank’s loan portfolio began suffering major losses, which stressed the bank’s capital to critical levels. The loan losses were deep enough to create a severe shortage of capital and resulted in regulatory intervention. The Office of the Comptroller of the Currency filed a formal agreement with the company, demanding it raise its capital to comply with regulatory guidelines.
“According to the 8-K filing, Princeton National Bancorp, Inc. reported its tangible equity to total assets ratio at the end of its second quarter (ending June 30, 2012) was 1.92 percent. Because of that percentage, the bank became “critically undercapitalized” within the meaning of the bank’s ongoing Prompt Corrective Action (PCA) provisions of the Federal Deposit Insurance Act and the regulations of the OCC. At that time, the company was given 90 days to turn its situation around by raising additional capital or merging with another financial institution.
(Todd D. Fanning, Executive Vice President, Chief Operating Officer, Chief Financial Officer and Director, resigned effective June 15, 2012).
“In June 20, 2012, Princeton National Bancorp was delisted from the NASDAQ Global Market for not meeting the requirements of the exchange. On June 29, 2012, the stock began trading on the OTCQB Marketplace.
“Late in the afternoon on Nov. 2, 2012, the Office of the Comptroller of the Currency closed Citizens First National Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver."
(in millions, unless otherwise)
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans
As of September 30, 2012, Citizens First National Bank had approximately $924.0 million in total assets and $869.4 million in total deposits. In addition to assuming all of the deposits of the failed bank, Heartland Bank and Trust Company agreed to purchase essentially all of the assets.
Heartland Bank and Trust has now acquired a total of 4 failed banks in the last two years; previous three are Western Springs National Bank and Trust, Western Springs, Illinois (April,2011), Bank of Shorewood, Shorewood, Illinois, August, 2012 Bank of Illinois, Normal, Illinois (March, 2010),
"We're a locally owned community bank whose roots are right here in the heartland. The Drake family, who came to Central Illinois in 1852, has been in banking for over 80 years. With the third generation of the family taking an active role in the banking business, we continue this tradition.”
About Heartland Bank:
List of Bank Failures:
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Please see our Job Wanted section for possible new employees.
Career Crossroad---By Emily Fitzpatrick/RII
Question: I was just let go, and it really came as a surprise, what are the steps I should take – I can’t afford to be out of work?!
Answer: I am sorry to hear of your situation …
CANDIDATES always be prepared for this scenario – EVEN if you don’t see the writing on the wall … this reduces the stress level of being let go and gives you some control:
Even if you think this won’t happen to YOU – you just never know – best course is to always be prepared
– Be Proactive instead of Reactive!
If you have NOT prepared yourself for this life-altering situation:
If you need further assistance, we are always here for you!
Career Crossroads Previous Columns
**** Announcement *************************************
CLP Foundation Announces New CLP---Louis Narrow
The Board of Directors of the Certified Lease Professional (CLP) Foundation is proud to announce that Louis (Lou) Narrow has passed the CLP Exam and earned the coveted CLP designation.
Mr. Narrow is a Vice President with Credential Leasing Corporation, a national lessor based out of Harrisburg, PA, and has been with the company 19 years.
The CLP designation identifies you as a knowlegeable professional to employers, clients, customers, and peers in the leasing industry. There are currently 171 Certified Lease Professionals throughout the world. For more information, call Reid Raykovich at (206) 535-6281 or visit www.clpfoundation.org
Indiana Court Ruling Makes True Lease “Murky”
Lawsuit by Secured Creditor of Lessee Claims Lease was Loan
By Tom McCurnin
Gibraltar Financial Corp. v. Prestige Equipment Corp., 949 N.E.2d 314 (Ind. 2011)
I’ve always thought that the Uniform Commercial Code’s “bright line” test of 1-203, which codified the nominal consideration test, was supposed to be a bright line test. But I also find that Judges, being Judges, are eager to weigh in on subjective standards like “reasonable.”
And today’s case demonstrates the irresistible impulse of some judges who want to depart from the statutory language to construe a lease as a loan instead of the true lease that was intended by the parties. Here, Key Equipment Finance had a fair market value purchase option, and at least in my judgment, that ought to be end of the analysis. The Indiana Supreme Court thought different. The facts follow:
Vitco, an Indiana manufacturer bought a punch press for $243,000, and did a sale leaseback with Key Equipment Finance. Key did not file a UCC-1 Financing Statement. After the lessee defaulted, Key Equipment Finance repossessed and sold the collateral. However, another secured creditor sued Key, claiming the lease was a security agreement, and since Key Equipment Finance didn’t file a UCC-1, the press was their collateral.
Key’s lease had two buyout opportunities, a “Early Buyout” provision for $78,000 and a an “End of Term Option.” The End of Term Option, had four different scenarios,
(1) Buy the press for fair market value; or
(2) Renew the Lease for the fair market renewal rental value; or
(3) Continue the Lease month-to-month at the current monthly rental rate; or
(4) Return the press to Key Equipment Finance.
Stop right there—the lessee had the chance to either return the press, buy it at FMV, renew the lease for another term, or pay month to month. Why isn’t this a true lease? The trial court and the Indiana Court of Appeals thought so.
The Indiana Supreme Court analyzed the four part bright line tests concerning the residual values and “concluded that the Lease did not create a security interest.”
OK. If the Indiana Supreme Court just said, what I thought they said, why isn’t this opinion over?
The Indiana Supreme Court then stated, “If a court finds that a transaction did not create a security interest per se, it must then consider the economic reality of the transaction in order to determine whether the transaction is more fairly characterized as a lease or a secured financing arrangement.” Oh, so it’s a true lease under the statute, but the lessee, and in this case the junior secured creditor, gets a second bite at the apple based on the murky “economic realities” of the transaction? Yep.
The economic realities test is a subterfuge of UCC 1-203 invented by an Illinois bankruptcy Court in 1995, long before UCC §1-203 was created. In re Meeks, 210 B.R. 1007, (Bkrtcy.S.D. Ill. 1995) that Court held that in order to be a true lease, the lessor must have a meaningful economic interest in the lease goods at the end of the lease. You will note that nowhere in the UCC does that language exist Another way of saying that the lease is really a security agreement is that the economic realities of the deal essentially force the lessee into exercising the purchase option, because the lessee has equity in the equipment.
Here, the Indiana Supreme Court analyzed the lease terms relative to its cost, $243,000, the aggregate payment stream, and the early buyout provision of $78,000. The Indiana Supreme Court then pointed out the obvious that “paying the $78,000 was the only economically sensible course for Vitco to take” given the fact that the equipment was a leaseback. Thus, the Indiana Supreme Court then sent the case back to the trial court for a determination of the “economic realities” of the lease.
I don’t often find fault with appellate judges, and maybe I’m too tied to the leasing industry to be objective, but the Indiana Supreme Court just created mud out of what was supposed to be a bright line test under the Uniform Commercial Code. The lessons for the equipment lessor, besides avoiding the State of Indiana, are:
First, file a UCC-1 Financing Statement, regardless of whether the lease is a security agreement or a true lease. There is plenty of case law which supports the proposition that UCC filing does not make the lease a loan. Here, the dispute was between a secured creditor and the lessor as to the collateral. Had Key Equipment Finance filed an informational UCC filing, this would have been a no harm, no foul, case.
Second, perhaps leasebacks are per se loans, and simply cannot be a true lease. There is some authority for that proposition, mostly in California and Texas, but I’ve never seen an appellate court wrap itself around the pole so tightly without simply coming out and stating that proposition. So if the reader is doing leasebacks, the reader might want to price the lease and take other collateral to compensate the lessor for the risk from an Indiana bankruptcy trustee.
The bottom line to this case is that I think the lessor got it right, save and except not filing a UCC-1, and basically got hosed by the Indiana Supreme Court.
Tom McCurnin is a partner at Barton, Klugman & Oetting in Los Angeles, California.
Barton, Klugman & Oetting
Gibraltar Financial Case:
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Alexa Rates Web News Standings
The lower number indicates standing in number of web sites visited on the World Wide Web; divided here by visits from the United States and the Wide World.
Alexa for ten years has ranked Leasing News first among internet readers for news in the leasing industry in the United States as well as the most read from the United states in other countries.
The numbers are more impressive in considering the other media are five times a week where Leasing News is usually Monday-Wednesday-Friday---three times a week. In addition, no Google analytics, SEO, or other mechanics to increase readership are utilized by Leasing News.
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Top Stories October 29--November 2
Here are the top ten stories opened by readers:
(1) Radiance Capital, Tacoma, Washington
(2) Confirmation---Evergreen Leasing is Closed
(3) Wells Fargo Equip. Finance Stripped of Its Perfected Lien
(4) East West Bank to cut back Healthcare Leases/Loans?
(5) Martin Shames Passes Away
(Tie)(6) Many East Coast Leasing Companies Back in Operation
(Tie)(6) Hurricane Sandy
(7) OneWorld Business Finance Up-Dates “Broker-Lessor List”
(8) Bob Robichaud, CLP, Retires,
(9) Sandy's destruction from the air--56 photos
(Tie) (10) CLP Spotlight—Frank Vitalie, CLP
(Tie) (10) FEMA to Banks and Lenders Re:
Not Counted Due to Technical Reasons:
(Leasing News provides this ad as a trade for investigations
--- Search by Country
Categories you can filter include "freelance," "full time", "part time," "Temporary" and "Internship."
While "leasing" brings up many rental property jobs, it also brings up equipment industry jobs, many of them in the private section, meaning captive lessors: those who offer financing to their end users, dealers, and distributors. This continues to be a growing field.
"Finance" tightens the list and specific jobs also work.
You can adjust the radius search from 1 to 5,000 miles. (Don't laugh, one of Leasing News classified helped a person seeking a specific job, who wanted to move back to the mainland from Hawaii: to the East Coast, about 4,000 miles)
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Arizona Equipment Leasing Association Meeting
“On Tuesday, October 30 the Arizona Equipment Leasing Association had a breakfast meeting at CoCo’s Bakery and Restaurant in Phoenix with nine members in attendance. The meeting started with networking and an introduction to our three new board members: Bill Matetich of Metropolitan Leasing, Pam McConlogue of Bibby Financial and Wade Rasmussen of Amerifund.
“ The continental breakfast was followed by an invigorating presentation, by Dave Barnhart, President of Business Blogging Pros who showed us how to use social media to map your Buyer Highway. There was discussion about utilizing LinkedIn, Facebook, and blogs with our webpage to attract strangers that are the right prospects that will turn into customers. He stressed the importance of knowing what motivates the customer and how they search for a solution.”
(Ask a colleague to join the Leasing News mailing list. We are free.)
Sandy-battered East Coast braces for cold, new storm
Photo collage of Sandy damage
Banks extend fee waivers for storm-hit customers
Farming equipment – lease or purchase
Milestones in AT&T History
SparkPeople--Live Healthier and Longer
SparkPeople--Live Healthier and Longer
The Symptoms of Seasonal Affective Disorder
Tampa Bay Buccaneers defeat Oakland Raiders as Doug Martin sets team/NFL records
Falcons pull out 19-13 victory to remain undefeated
Bears. Tillman deliver knockout
Cowboys’ playoff hopes likely gone after losing in Atlanta
Oregon positioned for title run
American Football Poem
Leif the Viking bent his knees
Across the sea to a far off land
A new world waited for Leif to view
A man of courage, faith, and prayer
Written by Carol Naevestad-Billings of Oxford, CT
One Person Stands Between You and a Fine Wine
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