New Hires/Promotions in the Leasing Business
and Related Industries

Michael Cutter was hired as Vice President of Business Development, Mitsubishi HC Capital America, Inc., Norwalk, Connecticut.  He is located in Cleveland, Ohio. Previously, he was Director, Customer Financing, JBT Corporation (John Bean Technology Corporation) (November, 2021 - October, 2025); Commercial Bank & Regional Vendor Lease Specialist, First National Bank
(June, 2013 - November, 2021). Full Bio:
https://www.linkedin.com/in/michael-cutter-00559614/details/experience/
https://www.linkedin.com/in/michael-cutter-00559614/

Nathan (Nate) Petrie was hired as North American Sales Leader, Kin Analytics, Kirkland, Washington. He is located in Vail, Arizona. Previously, he was Solutions Engineer, Coface, (October, 2024 - October, 2025); Customer Success Manager, Argyle, Chicago, Illinois, (January, 2024 - October, 2024); Analytics Account Executive, GDS Link (August, 2022 - January, 2024). He joined Equifax January, 2010, as Senior Client Operations Analyst, promoted January, 2015, Senior Credit Score Specialist; promoted Technical Sales Engineer(January, 2019 - September, 2022). Full Bio:
https://www.linkedin.com/in/nathanpetrie/details/experience/
https://www.linkedin.com/in/nathanpetrie/

Scott Rheinschmidt was hired as Chief Financial Officer, CRST: The Transportation Solution, Inc, Cedar Rapids, Iowa., where he is also located. He took a career break (June, 2025 - September, 2025). He was Executive Vice President & Chief Financial Officer, GreatAmerica Financial Services (August, 2023 - June, 2025), Chief Financial Officer (September, 2022 - August, 2023); Senior
Vice President Finance (November, 2017 - September, 2022). Full Bio:
https://www.linkedin.com/in/scott-rheinschmidt-a8872a48/details/experience/
https://www.linkedin.com/in/scott-rheinschmidt-a8872a48/

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From Seed to Success
NEFA Fall Conference Recap
by Vicki Shimkus CLFP
Ameris Bank Equipment Finance
Broker Relationship Manager

NEFA held its Annual Fall Conference October 14-16 at the Renaissance Minneapolis Hotel, The Depot. The theme was “From Seed to Success". With a record-breaking 451 attendees, this year’s conference
reflected NEFA’s continued growth and the industry's increasing demand for meaningful education, leadership, and community.

For those arriving early Tuesday, several local companies held open houses at their nearby offices. The NEFA Foundation held a charitable event, “Paws & Potential: Growing Together,” to benefit the Can-Do Canines organization and the Chris Walker Education Fund. The event was very well attended, and feedback was positive reporting that helping an organization that provides assistance dogs for people with disabilities was one of the primary reasons they signed up to help.

On Wednesday morning, things kicked off with a Stripes Leadership session followed by Kickstart & Connect to open the conference. During this time, attendees were able to meet NEFA committee members and learn how to get involved with the various groups.

The Women in Leasing Luncheon event followed at the Guilia Restaurant a short walk away. There were great conversations, networking and, of course, a wonderful lunch. This event is a not to miss inspiring opportunity to meet and support our growth. Sherri Lipski does an amazing job always planning a great venue and making sure it is welcoming for all first-time attendees as well as returning attendees.

Immediately following was the Plenary Session, “From Seed to Summit,” featuring a panel of NEFA members at various stages of their professional path - from those just planting seeds to those who are reaching the summit of their success. It was wonderful to hear of each person’s unique journey. For the rest of the afternoon, there was time to visit with established business relationships and meet new partnerships in the busy exhibit hall where more than 45 companies were exhibiting.

Just before the reception began, we CLFPs met outside the exhibit hall for the CLFP toast and photo. It was one of the largest I have been a part of. There were nearly 70 CLFPs present for the photo. If you are interested in learning more about becoming a CLFP, I encourage you to reach out to the CLPF Foundation to find out more about this certification.

The Ambassador and Welcome Reception following continued opportunities to catch up with old friends and meet new people in the Exhibit Hall before departing for an open night.

Thursday started off with a full breakfast in the Exhibit Hall and a morning of networking with all of the exhibitors. During the exhibit times, there were also Membership Roundtables covering AI & Operations, Legal Topics, and Workforce Dynamics.

The exciting Keynote followed with “The Path to the Podium,” presented by famed goalie from the iconic Gold winning 1980 Olympic hockey team, Jim Craig. Jim shared the mindset that has helped him to succeed not only in the world of sports but in business as well. He provided strategies for successful leadership, team alignment and how to overcome challenges. His session was a standing room only packed house.

The business luncheon followed with some updates on NEFA’s progress, membership and upcoming plans for additional growth. Kim King, CLFP, the incoming BOD President, spoke of her journey and how much NEFA has featured in her career in equipment finance. Two awards were also presented: The NEFA Lifetime Contribution Award was presented to George Parker, CLFP, and the NEFA Member of the Year Award went to Mike Mroszak. Two well deserving recipients for all the dedication, effort and energy they give to the association. Committee chairs were invited to speak regarding what their committee focus is as well as updates on their current projects. Alice Rehm of the Marketing committee presented a new NEFA Marketing Tool kit for member’s use and Nick Walker of the Young Professionals committee gave a powerful message of NEFA welcoming him as a new to the industry professional a few short years ago, to leading a committee today. Brylee Horning, CLFP, gave an update on the Women in Leasing committee and the new mentoring program they have implemented. Several other committees also provided updates and invitations to join the committees in which you may be interested.

The afternoon provided opportunities to attend several educational breakout sessions with timely topics including growing your career, legal updates, operational techniques, and data management.

After some leisure time to reset after the busy few days, NEFA hosted the Harvest Celebrations: Midwest Sendoff that included a live band, Midwest favorite dishes (including Minnesota Hot dish), games in the outdoor patio lounge and showcasing our favorite band tee-shirts. There were tons of games, a 360-photo booth, music and dancing before we said goodbye until next conference. The planning committee and NEFA put a lot of effort into this enjoyable, productive conference and it showed. I know I am looking forward to seeing everyone again next spring in Huntington Beach for another great NEFA conference.

Vicki Shimkus CLFP
Ameris Bank Equipment Finance | Broker Relationship Manager

 

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The Friday Strategist or Monday Architect
By Scott Wheeler, CLFP

In the commercial equipment finance and leasing industry, top originators don’t just react—they plan. They approach each week with intention, clarity, and purpose.

There are two types of successful planners:

• The Friday Strategist: These originators close out the week by mapping out the next. Before heading home, they’ve already outlined their priorities, scheduled key touchpoints, and set the tone for Monday.
• The Monday Architect: These originators start the week with focused energy. First thing Monday morning, they craft a plan that aligns with their goals and sets a clear path forward.

Regardless of style, both are ready to execute by the start of the workweek. Their success isn’t accidental—it’s built on discipline and foresight. A written plan creates personal commitment and personal accountability.

In coaching individual originators, one truth consistently emerges: creating a weekly plan is rarely the problem. Execution is where the real challenge lies.

Originators often say, “The unexpected creeps into my day, and well-intentioned plans quickly get placed on the back burner—it’s just the nature of the job.”

When daily chaos dictates priorities and distractions (however inefficient) determine activity, the outcomes suffer. Preferred results are missed not because of a lack of strategy, but because the strategy is abandoned.

Top performers know that discipline isn’t just about planning—it’s about protecting the plan. They build buffers, anticipate interruptions, and commit to execution with the same energy they bring to their designed plan.

Planning creates potential efficiencies. Execution delivers the most efficient results.

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

Leasing and Finance Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now

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Speak with Conviction
By Ken Lubin, Managing Director, ZRG Partners

In business, leadership, and life, people don’t follow those who “kind of” believe in what they’re saying. They follow those who speak with conviction — those whose words carry weight because they come from clarity, confidence, and purpose.

If you don’t believe in what you’re saying, neither will anyone else. Conviction is the energy behind influence. It’s what turns ideas into action and words into trust. When you hesitate, soften your stance, or hide behind uncertainty, people sense it immediately. They may not say it, but subconsciously, they stop listening.

Speaking with conviction doesn’t mean being loud or aggressive — it means being certain. It means you’ve done the work, you understand the subject, and you’re willing to stand behind your beliefs even if others disagree. That kind of confidence is magnetic. It makes others want to follow your lead because they trust you know where you’re going.

In a world full of noise, conviction cuts through. It’s not just about the words you choose — it’s the tone, the posture, the belief that comes through when you talk about something that matters.

If you want others to trust you, start by trusting yourself. Speak like you mean it. Lead with certainty. Because when your words carry conviction, your presence carries power.

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

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Just Announced: The most decorated swimmer of all time, Michael Phelps, will be joining us as a keynote speaker at our 64th Annual Convention.

Get ready to be inspired by his remarkable journey, determination, and powerful insights into mental resilience and peak performance. This is a session you won’t want to miss.

 

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2025 Economic Outlook:  Economy Remains Resilient,
Though Slower Growth Expected in Q4

Equipment & Software Investment Projected to Expand 9.9% in 2025 After Robust Start to Year;
GDP to Expand 2.0%

Washington, DC, - The Equipment Leasing & Finance Foundation today released its Q4 update of the 2025 Equipment Leasing & Finance U.S. Economic Outlook, forecasting solid but moderating economic performance through the end of 2025. This outlook is primarily fueled by strong equipment and software investment and better-than-expected consumer spending. However, the Foundation warns that a weakening labor market and rising inflation could dampen these growth prospects in the coming months.

Equipment and software investment surged during the first half of 2025. While six of seven tracked equipment verticals posted gains, the main driving force behind this expansion was technology equipment and software spending fueled by the AI boom. Driven by the massive outlays from a handful of tech giants building new data centers and other AI infrastructure, the Foundation has revised its 2025 equipment and software investment forecast to 9.9% (up from 6.3%) and its U.S. GDP forecast to 2.0% (up from 1.3%).

“Equipment and software investment continues to display impressive growth, driving economic activity during a period of heightened uncertainty,” said Leigh Lytle, President of the Foundation, and President & CEO of the Equipment Leasing and Finance Association. “Earlier concerns over moderating investment have eased in recent months, contributing to improved industry confidence. Looking ahead, while the economy may slow, the industry remains in a solid position as the combination of the AI buildout, more favorable tax treatment, lower interest rates, and a pro-growth regulatory environment drive investment activity.”

Highlights from the 2025 Outlook include:

• U.S. Economy: Overall, the U.S. economy continues to demonstrate resilience to the cross-currents that have characterized the last 10 months, with real GDP expanding 3.8% in Q2 after contracting -0.6% in Q1. Improvements in consumer demand this summer eased concerns of a near-term economic downturn, and another quarter of solid economic growth appears likely in Q3. At the same time, weak job growth underscores the potential need for the Fed to shore up growth by lowering interest rates over the coming months, despite worries that such a move could fuel more inflation.

• Business Sentiment: Businesses remain generally optimistic with both large and small firms planning capital expenditures in the coming months. The Business Roundtable’s CEO Economic Outlook capital spending index rebounded to 77.4 in Q3, while the National Federation of Independent Businesses (NFIB) reported in September that 21% of respondents are planning capital expenditures over the next six months. Equipment finance industry surveys largely agree: in October, the Foundation’s Monthly Confidence Index held steady above the historical average for the fifth consecutive month. Additionally, ELFA’s CapEx Finance Index shows upticks in new business volume in both July and August, though year-to-date volume is 2.7% below the same period in 2024.

• Equipment and Software Investment: Equipment and software investment continues to be a bright spot in the economy. Technology Equipment & Software and Transportation Equipment accounted for most of the industry’s expansion over the first half of 2025, though Construction Machinery, Agricultural Machinery, Medical Equipment, and Industrial Machinery have all experienced positive year-over-year growth. The impact of the AI buildout is difficult to overstate: indeed, investment in information processing equipment contributed more to economic growth than consumer spending from January to June.

• Equipment Finance Industry: Positive business sentiment bodes well for the industry and suggests that demand for equipment and software investment—especially in the Technology Equipment & Software vertical—should remain healthy in the near-term, creating opportunities for financing.

The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is released in conjunction with the Economic Outlook, tracks seven equipment and software investment verticals. In addition, the Momentum Monitor Sector Matrix provides a customized data visualization of current values of each of the seven verticals based on recent momentum and historical strength.

This month, two verticals are strong and accelerating, two are weak but accelerating, and three are weak and decelerating. However, because of the ongoing U.S. government shutdown, several key federal data sources used in this product are temporarily unavailable. Over the next six months the Foundation expects the following trends to materialize on a year-over-year basis:

· Agriculture machinery investment growth should improve.
· Construction machinery investment growth is likely to increase.
· Energy and electrical equipment investment growth is likely to strengthen.
· Industrial equipment investment growth should remain subdued and may contract.
· Medical equipment investment growth is likely to soften.
· Technology equipment and software investment growth should remain solid but may moderate somewhat.
· Transportation equipment investment growth is likely to remain strong. 

All Foundation studies are available for download from the Foundation’s online library at http://store.leasefoundation.org/.

ABOUT THE FOUNDATION
The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization with a mission to advance the $1.3 trillion equipment finance sector by producing data-forward research and market outlooks, as well as cultivating the next-generation workforce through Campus to Career programs, including curriculum development and collegiate scholarships. Founded in 1989 and 100% funded through charitable donations, the Foundation drives innovation and career development for the future of the industry. www.leasefoundation.org

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News Briefs

Amazon Plans to Replace More Than Half a Million Jobs
    With Robots 
https://www.nytimes.com/2025/10/21/technology/inside-amazons-plans-to-replace-workers-with-robots.html

Amazon unveils AI smart glasses for its delivery drivers
https://techcrunch.com/2025/10/22/amazon-unveils-ai-smart-glasses-for-its-delivery-drivers/

Moody’s Lifts Outlook as Profit, Revenue Rise
https://www.wsj.com/business/earnings/moodys-liftsoutlook-as-profit-revenue-rise-a798f45c?mod=business_feat2_retail_pos3

Southwest Airlines Aims for Highest Fourth-Quarter
    Revenue on Record
https://www.wsj.com/business/earnings/southwest-airlines-aims-for-highest-fourth-quarter-revenue-on-record-1894ef15?mod=business_feat3_earnings_pos1

Tesla Profit Plunges Despite Third-Quarter
    Rush to Buy EVs
https://www.wsj.com/business/autos/tesla-tsla-q3-earnings-report-2025-653ea365?mod=business_lead_story

A significant group of Americans are falling behind
   on their car payments - an economic warning sign
https://www.cnn.com/2025/10/22/business/car-payments-late-default-subprime

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Warrant issued for Coppola winery project manager    
    accused  of embezzling $1.2 million
https://www.pressdemocrat.com/2025/10/21/warrant-issued-for-manager-of-coppola-owned-winery-accused-of-embezzling-1-2-million

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Sports Briefs---

George Kittle’s return to 49ers not only uplifting
    but ‘needed’ after Fred Warner exit
https://www.eastbaytimes.com/2025/10/15/george-kittles-return-to-49ers-not-only-uplifting-but-needed-after-fred-warner-exit/

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California News Briefs---

Lodi Unveils 'No Reservations': A Welcoming
     Alternative to Wine Tourism
https://www.winebusiness.com/news/article/309621

Bonny Doon Vineyard releases a special 40th Anniversary   
   bottling,   "Take Me to Your Liter."
https://www.winebusiness.com/news/article/309631

Anaya Vineyards and the Unsung Heroes
     of Lodi's Latino Wine Community
https://www.winespectator.com/articles/anaya-vineyards-lodi-latino-wine-community-unconventional-grapes

Treasury Wine Estates Named #1 Healthiest Employer
    in the San Francisco Bay Area,  Ranked a Top 25  
      Healthiest Employer Nationally Among
      Healthiest 100 Workplaces  for Fourth Consecutive
https://www.winebusiness.com/news/article/309602

Watts Law Firm & 2 Other Firms Announce
   $125 Million Settlement with PacifiCorp
https://www.winebusiness.com/news/article/309615

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Gimme that Wine

 

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

Gallo Introduces Single Serve 200 mL Tetra Packs
https://www.winebusiness.com/news/article/309394

The Finger Lakes, American Wine Region of the Year,
   Is a Hotbed of Innovation
https://www.wineenthusiast.com/culture/industry-news/wine-star-awards/american-wine-region-2025/?utm_campaign=3486925_WSA%202025%20Regions&utm_medium=email&utm_so
urce=dotmailer&dm_i=28KR,22QJ1,4QSHA,7LWH8,1

A mystery buyer just paid $16.8 million cash
   for a storied Napa winery, and ‘we plan on buying more’

https://www.sfchronicle.com/food/wine/article/calmere-estate-peju-sold-21102782.php