Barry Reitman Zoom Salute
You Are Invited to Join In
Today, Wednesday, May 1, 4pm EDT on Zoom

Barry Reitman, aged 77, of Blooming Grove, New York, passed away on March 20, 2024 after a short illness.

Barry Reitman was one of the founders of the National Association of Equipment Leasing Brokers (NAELB, now AACFB, American Association of Commercial Finance Brokers). He was very active in membership, writing, editing and helping the association grow.

Registration:
https://us02web.zoom.us/meeting/register/tZ0vfumhrjstHNH5lcMCHq0qROZzn6S79elz

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New Hires/Promotions in the Leasing Business
and Related Industries

Shaunda Blackwell Fales was hired as Small Business Portfolio Administrator, Capital One. She is located in the Dallas-Fort Worth Meotoplex.  Previously, she was Vice President, Business Banking Relationship Manager (May, 2023 - February, 2024). Full Bio:
https://www.linkedin.com/in/shaunda-b-24a07b1b7/details/experience/
https://www.linkedin.com/in/shaunda-b-24a07b1b7/

Karen Leastman, CLFP, was promoted to National Vice President, Fist American Equipment Finance, Rochester, New York. She joined First American July, 2002, Commercial Account Officer, promoted Assistant Vice President, April, 2013, promoted Vice President, November, 2014 - April, 2024 (20 years, 10 months).
https://www.linkedin.com/in/karenleastman/

Mallory Smith was hired as Sales Account Manager at Aston Carter. She is located in Nashville, Tennessee.  Previously, she was Account Manager, Aston Carter (August, 2022 - April, 2024). He began his career at Lululemon October, 2015, Key Leader and Community Curator, promoted March, 2020, Digital Engagement at Lululemon.
https://www.linkedin.com/in/mallory-smith-3ab93096/

Adam Taylor was promoted to Vice President of Software Engineering, Omaha, Nebraska. He is located in Wichita, Kansas. He joined LTi September, 2011, Software Engineer, promoted April, 2014, Lead Senior Software Engineer, promoted September, 2017, Manager, Software Development, promoted April, 2021, Director, Software Development. Previously, he was System Developer, Nex-Tech (September, 2010 - September, 2011); Software Engineer, 21st Century Systems, Inc. (June, 2006 - December, 2010).
https://www.linkedin.com/in/adam-taylor-25560224

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Just Ask
By Scott Wheeler, CLFP

In a recent presentation to a group of originators, I was surprised to learn that many were reluctant to ask for additional information from their vendors and end-users. Then, a seasoned top-performing originator stood up and explained that his success was derived from his ability to pre-qualify his customers, to ask the tough questions, and to get commitments from his prospects.

He explained that selling is a two-way street and vendors and end-users respect and deliver results because of his inquisitive questions. The credit department processes his transactions first because of the completeness of his submittals.

He wins more transactions because of his due diligence and professionalism. "You get what you ask for - therefore, you better ask for the business."

Strong originators in the commercial equipment finance and leasing industry are always willing to ask the tough questions with confidence. It is amazing what vendors and end-users will provide when originators simply ask for what is needed in order to secure a transaction.

Lenders and lessors have returned to basic best practices which include knowing your customer, securing every transaction, and being more efficient with their workflow.

These best practices start with an originator pre-qualifying her vendors and end-users by asking additional questions.

Top originators are always willing to:

• Ask for the business
• Ask for additional information
• Ask for commitments
• Ask for financial information when warranted
• Ask for referrals
• Ask for testimonials
• Ask for additional collateral.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

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Leasing and Finance Industry Help Wanted

Regrets
By Ken Lubin, ZRG Partners, Managing Director

• Remember when you didn’t buy that Apple stock?
• Remember when you didn’t ask out the boy or girl?
• Remember when you didn’t take that job because you were scared?
• Remember when you played it too safe?

Remember when you didn’t go after that big, crazy goal?

The best time to plant a tree was 20 years ago, the next best time is now.

The biggest regret from people who are dying is that they didn’t take enough chances and chase what they really wanted. Now is that time, because if you fail, it doesn’t matter. No one cares anyway.

Stay Safe and get outside of your comfort zone, you are already there.

Ken Lubin, Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
https://www.linkedin.com/in/klubin 

Seriously, if you are not a Certified Leasing and Finance Professional, now is the time to take the step to becoming a CLFP.

Here is more information published by Leasing News:
https://leasingnews.org/archives/Apr2024/04_29.htm#academy

 

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Private Equity and Venture Capital Industry
Shows Resilience and Optimism in 2024
ABF Journal

The private equity industry is showing resilience and optimism for 2024 despite shifting market dynamics, according to the S&P Global Market Intelligence 2024 Private Equity and Venture Capital Outlook. According to the outlook, private equity executives are notably more optimistic about deal activity in 2024, with 60% expecting an improvement compared to 34% last year. Survey respondents also showed increased interest in private credit and shared that artificial intelligence (AI) will play a larger role in deal sourcing and target selection.

Thomas Mercieca, Associate Director at S&P Global Market Intelligence and lead author for the report, wrote, “This year’s survey revealed more optimism among both general partners (GPs) and investors as they are racing for a return to increased deal activity with increasing valuations allowing them to exit their backlog of investments and return cashflows to limited partners (LPs).

“There is also increased investor interest in private credit allocation, with 61% of LPs reporting that they will increase their asset allocation to the asset class in 2024. We are pleased to see that despite macroeconomic challenges still lingering, the industry remains adaptable and poised for growth throughout 2024.”

Key highlights from the 2024 Private Equity and Venture Capital Outlook:

• Mid-tier and smaller private equity (PE) firms are more optimistic for the deal activity to pick up in 2024 compared to their larger peers.

• 61% of LPs investing in private markets reported they will increase their asset allocation to private credit in 2024.

• Presently, fund managers prioritize personal networks and referrals for sourcing investment opportunities. However, 54% of GP investment professionals foresee AI influencing deal sourcing and target selection in the future.

• Among private equity GPs, in the past year, 37% reported expanding their use of private credit in deal financing, with larger PE firms in particular making more use of private credit over bank loans.

• Private equity GPs feel the fundraising outlook has bottomed out: only 15% of GP respondents expect deteriorating fundraising conditions in 2024, versus 45% at the start of 2023. However, among venture capital (VC) firms there are remaining concerns about LPs reducing their allocation to VC.

• A majority of VC professionals expect deal activity to improve in 2024 (68%)  but there are a substantial number of respondents saying conditions will stay the same as 2023 (28%).

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SLIM Capital Reports Breaking 1st Quarter,
Reveals the Outstanding Financial Numbers

Shervin Rashti, CEO Slim Capital, said, “With increasing delinquency affecting various finance sectors, many institutions are pulling back or altogether exiting the equipment finance space. Our experience in navigating stressful environments gives us the confidence to build and capitalize businesses that are finding access to capital limited."

“The first quarter was a groundbreaking quarter with Q1 2024 witnessing an exceptional surge in origination volume and a record-breaking influx of deal submissions. Our team's unwavering commitment to efficiency and excellence has enabled us to fund deals swiftly and effectively, positioning us as a reliable partner for all your financial need, “ Rashti said,. “ As we embark on Q2, we are eager to review and consider new opportunities, ensuring that our momentum translates into mutually beneficial outcomes. Join us in leveraging this success into the next quarter and beyond for unparalleled financial solutions.

“At SLIM Capital we offer customized financial solutions to meet your unique needs, and we pride ourselves on our personalized approach to financing and quick response times. Be sure to click the button below to learn more about our Q2 - PROGRAMS and REQUIREMENTS! And find out how we can help you get your transactions funded!

“We are looking forward to working with you.”

Broker Program

SLIM Capital, LLC
9301 Wilshire Blvd., suite 425
Beverly Hills, CA 90210
deals@slimcapital.com
| 310.499.2562
https://www.slimcapital.com/

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Puppy, Australian Cattle Dog/Blue Heeler
Beverly Hills, CA  Adopt-a-Dog

Maribel

Female
Merle (blue)
Medium Size
Coat Length Medium
Spayed
Vaccinations Up-to-Date
Good in a Home with
Other dogs, cats, children

Amanda Foundation
351 North Foothill Rd. (Mailing only)
Beverly Hills, CA 90210
310-278-2935

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ELFA Legal Forum
Hybrid Event:  In-Person & Virtual
May 5 - May 7, 2024
The Scotsdale Resort & Spa, Scottsdale, AZ

The premier event for attorneys serving the equipment leasing and finance industry. The best place to obtain updates on legal issues that impact your company unmatched networking opportunities with your peers in the industry.

Attend In-Person or Virtually
ELFA is offering the Legal Forum as a hybrid event! You have the flexibility to choose the option that works best for you:

In-Person: Attend the Legal Forum in-person to connect with colleagues in Scottsdale. Onsite attendees will enjoy unparalleled opportunities to network, do business and uncover ideas to help your business grow. All in-person attendees will also have access to attend virtually to education sessions as well.

Virtual: Attend the Legal Forum remotely to hear from industry experts from the comfort of your home or office. Watch livestreams of high-quality educational sessions and top-notch keynote speakers when and where it’s most convenient for you—for a discounted price.

Full Information
https://cvdata.elfaonline.org/cvweb/cgi-bin/eventsdll.dll/EventInfo?SESSIONALTCD=LF24

News Briefs

Amazon Stock Gains On Earnings Beat,
    Touts AI 'Reaccelerating' Cloud Growth
https://www.investors.com/news/technology/amazon-stock-gains-on-earnings-beat-strong-cloud-growth/

Tesla layoffs hit Supercharger team just as
    it’s poised to take over EV charging
https://www.theverge.com/2024/4/30/24145621/tesla-layoff-supercharger-ev-charging-nacs-elon-musk

Walmart to close its 51 health centers
    and virtual care service
https://apnews.com/article/walmart-9efab27776a4aa0875a89b8f0d57066c

High Fed Rates Are Not Crushing Growth.
    Wealthier People Help Explain Why.
https://www.nytimes.com/2024/04/30/business/economy/high-fed-rates-rich-people.html

As internet data centers multiply,
    efforts to control them are growing
https://www.bostonglobe.com/2024/04/30/business/internet-data-centers-opposition-energy/

8 daily newspapers sue OpenAI and
    Microsoft over AI
https://www.bostonglobe.com/2024/04/30/nation/8-daily-newspapers-sue-openai-microsoft-over-ai/

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Keep these 10 financial documents forever.
    Scan and shred the rest
https://www.washingtonpost.com/business/2024/financial-documents-shred-keep-scan/

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Sports Briefs---

Why did offense dominate the NFL Draft
https://www.theringer.com/nfl-draft/2024/4/28/24143622/the-nfl-hot-read-why-did-offense-dominate-the-2024-nfl-draft

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California News Briefs---

3 San Francisco Bay Area cities join forces in
  retail theft operation that leads to 88 arrests
https://www.sfgate.com/bayarea/article/bay-area-retail-theft-arrests-19431506.php

Iconic fine-dining restaurant in Disney World
   just snagged first Michelin star
https://www.sfgate.com/food/article/disney-world-restaurant-michelin-star-19431526.php

'We're seeing a feast': Over 1,000 sea lions
     descend on San Francisco's Pier 39
https://www.sfgate.com/local/article/san-francisco-sea-lions-descend-fishermans-wharf-19430916.php

Donations will keep SF Bay Area
 surfing competition in Pacifica
https://www.sfgate.com/bayarea/article/bay-area-too-expensive-for-dog-surfing-competition-19421016.php

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Gimme that Wine

 

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

Wine of the week: Duckhorn, 2022
   North Coast Sauvignon Blanc
https://www.pressdemocrat.com/article/lifestyle/napa-valley-sauvignon-super-north-coast/

Petaluma winery series highlights
    Latino culture
https://www.pressdemocrat.com/article/lifestyle/mexican-food-wine-pairings/

Napa Valley's world famous wineries revolt against
 'abusive' bureaucrats who have stopped them planting
    trees, making jam and...making too much
https://www.dailymail.co.uk/news/article-13351497/world-famous-wineries-revolt-abusive-bureaucrats-napa-valley.html

Foley Family Wines Unveils New Location
   for The Four Graces in Dundee, OR
https://www.businesswire.com/news/home/20240429484440/en

An introduction to Japanese wine
  wineries in Japan has tripled in the last decade
https://cluboenologique.com/story/introduction-japanese-wine/

Sonoma-Cutrer Releases the
    2023 Rosé of Pinot Noir
https://www.winebusiness.com/news/article/286755