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New Hires/Promotions in the Leasing Business
and Related Industries

Lynn Alstad was hired as Vice President of Blue Owl Capital, New York, New York. She is located in the New York Metropolitan Area. Previously, she was Director of Contract Administration and Operations, Antalya Leasing (September, 2022 - October, 2024); President & CEO, Capella Equipment Finance (2016 - September, 2022).
https://www.linkedin.com/in/lynn-alstad-061321191/

Paul Cheslock was hired as Vice President of Customer Relations, North Mill Equipment Finance, LLC., Norwalk, Connecticut. He is located in Columbia, Missouri. Previously, he was Vice President, Indirect Markets, TimePayment (2016 - 2018); National Sales Manager, Healthcare, Marlin Business Service Corp. (2013 - 2016). Full Bio:
https://www.linkedin.com/in/paulcheslock/details/experience/
https://www.linkedin.com/in/paulcheslock/

Jeff Enoch was hired as Vice President, Business Development, Inventory Finance, Mitsubishi HC Capital, Southport, North Carolina. Previously, he was Director of Program Origination, Vendor Finance, Siemens (2021 - 2014); Vice President Sales, Equipment Finance, BMO Harris Bank (2018 -2021); Vice President, Sales Officer, TD Equipment Finance, Inc. (2014 - 2018).
https://www.linkedin.com/in/jeff-enoch-9b510a8

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Lessons Learned
By Scott Wheeler, CLFP

There were many lessons learned over the past two years (the transitional period). Most of the lessons were apparent to veteran industry professionals. Many of the lessons learned had been part of previous economic cycles:

There are risks in every transaction.
The responsibility of all participants (individual professionals and companies) is to mitigate risks while maximizing rewards.
Bottom-line results are more important than short-term top-line postings when building a sustainable organization.
Sales and credit are intertwined, and the strongest professionals fully understand both.
Transitional periods eliminate the weakest participants and strengthen the strongest.
The strongest participants thrive in the aftermath of a transitional period, because they adhere to the fundamentals of risk versus reward.

Savvy industry participants are diligently pursuing the highest quality assets in the fourth quarter of 2024 to finish the year strong and position themselves for a successful 2025.

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 works with banks, independents, captives, origination companies, and investors in the equipment leasing and finance arena. We provide training, strategic planning, and acquisition services. Scott Wheeler is available to discuss your long-term strategy, to assist your staff to maximize outcomes, and to better position your organization in the market.

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Leasing and Finance Industry Help Wanted
Many Openings, Many Remote, excellent Opportunities

You Become What You Attract

Sales Make it Happen by Kit Menkin

The title of this article not only applies to those in sales but to companies themselves and, perhaps, to life itself.

In my experience, new sales individuals are attracted mostly to large lease transactions. They get off the track easily, especially if they have set themselves up on a quota or are in a lull. They think one large lease will make up for the lack of "regular" leases they have been advised to follow.

Sometimes it is the "bragging" or "feeling good about yourself" that may be the reason you are working on a very large deal. You tell your boss, your colleagues, your spouse, and others, about working on the large deal. Maybe it is the idea of the "big money" or being in the circle of "top executives" or the perhaps feeling you have arrived because "look at the big deal I am working on."

Most large ticket deals that you first stumble into do not go together as they are either not creditworthy, and thus the reason why you are working on it, or if they are creditworthy, by the time they place the order, they have gone with someone who has a much better rate. There is always someone with a better rate.

There is no convenience or ‘I am doing the lease because I like you.’ They will bid it out. Just like the old Wild West, there is always someone who is faster in the draw, especially if you are new to the game. However, most of the time the reason you are invited to work on the large transaction is they have nowhere else to go, and that is also where you will wind up.

This also applies to those in sales who rely on getting ten to fifteen points (or more) on a deal. They are not interested in cultivating a vendor or asking a customer for repeat business or cold calling.

They want the deal that is almost impossible to put together, but somehow they do, or find someone who will do the lease. Sometimes it is the challenge, but in reality it is "I can make more money." All of a sudden, they find themselves boxed into this market and then it becomes not only the type of customer they find, but the type of customer that finds them.

The vendor who said he will send you all his business if you put this together--- what he sends you is the business his regular source that pays him a "spiff" can't do. You have become what you attract, the deals his regular leasing company can't do.

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Top Ten Most Read by Readers
September 30 to October 4

(1) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Oct2024/10_04.htm#hires

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Oct2024/10_02.htm#hires

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Sep2024/09_29.htm#hires

(4) Funders Looking for Broker Business
Any changes or updates, Please email:
kitmenkin@leasingnews.org
https://leasingnews.org/archives/Oct2024/10_04.htm#looking

(5) Now is the Time to Take Advantage of
Higher Bonus Depreciation Before End of 2024
https://leasingnews.org/archives/Oct2024/10_02.htm#now

(6) License and Registration United States
A State-by-State Analysis of License Requirements
for Lenders and Brokers
https://leasingnews.org/archives/Oct2024/10_02.htm#lic

(7) Usury
Various Laws Subject to Disclosure
https://leasingnews.org/archives/Oct2024/10_02.htm#usury

(8) Ansley Park Capital Surpasses $200 Million
in Funding in First Quarter of Operation
https://leasingnews.org/archives/Oct2024/10_04.htm#ansley

(9) North Mill Equipment Finance Sets
New Quarterly Origination Record
https://leasingnews.org/archives/Oct2024/10_04.htm#nm

(10) Don’t Assume Growth by Senior Executives
By Steve Chriest
https://leasingnews.org/archives/Sep2024/09_29.htm#dont

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Major Commercial Finance/Leasing
Conferences

NVLA Keynote Speaker Michelle "Mace" Curran
Former USAF Fighter Pilot

Oct. 16-18: NVLA Conference, Clearwater Beach, Fl.
Tarry Shebesta, NVLA Pres. Invites You to Attend
https://leasingnews.org/archives/Sep2024/09_18.htm#nvla
Sloan Schickler, Esq., Schickler & Schickler, will be covering the conference for Leasing News. She is also presenting there.

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX
Check out the Industry Breakout Sessions on Monday and Tuesday
https://www.elfaonline.org/education-networking/2024/annual-convention/schedule
Full Education Session Lineup
https://leasingnews.org/archives/Sep2024/09_09.htm#elfa
Bruce Kropschot, Senior Managing Director, The Alta Group, will be covering the ELFA Convention, as he has done for Leasing News for many years.

Nov. 6, 2024, Brokers Expo, New York City
https://thefundersforumbrokerexpo.com/ny/agenda/ ---Join the Network & Make New Friends. Daymond John of the Shark Tank is behind this group. A lot of investor friends involved in funding leasing and finance transactions.
https://leasingnews.org/archives/Feb2023/02_14.htm#exp

Nov. 11-14: NEFA Fall Conference, Indiana
Special Registration for members and those who will come one by November 11th, Plus Speakers. And programs
Register as Member or Non-Member:
https://myemail-api.constantcontact.com/Join-Us-at-Brokers-Expo-NYC---You-Don-t-Want-to-Miss-This.html?soid=1133130637774&aid=wV4AHtx4SMIpolis, Indiana
Vicki Shimkus, CLFP, Balboa Capital, Broker Relationship Manager, will be covering the conference for Leasing News readers.

To be listed or update: kitmenkin@leasingnews.org

20 Years of U.S. Transport
Emissions in One Graphic

According to the Bureau of Transportation Statistics, in 2022, U.S. freight transport alone generated nearly 570 million metric tons of CO₂, a number that has been steadily growing for the last 20 years.

However, while all other transport types have increased emissions, rail freight transport has significantly decreased emissions over the same period.

For this graphic, Visual Capitalist partnered with The Greenbrier Companies to investigate how rail significantly reduced emissions.

The total volume of greenhouse gas emissions released by U.S. transport (shown below in millions of metric tons) has steadily grown over the last two decades. In fact, since 2002, U.S. freight emissions have grown by 17%.

While the cause of much of this growth has been the increased emissions generated by trucking, which grew by 15% to 411 million metric tons in 2022, emissions from shipping and pipelines also rose over the last two decades—18% and 88%, respectively.

However, at the same time, rail emissions dropped by 23% to 32 million metric tons. The rail industry made this possible by emphasizing fuel efficiency.

The American Association of Railroads reports that one train can move a metric ton of materials 500 miles on a single gallon of fuel. Additionally, when looking at overall energy use, rail only consumed 3%* of the total energy used by U.S. transport in 2022.

These and many other factors have led to U.S. rail freight contributing only 1.8% of the overall emissions produced by U.S. transport.

Freight Rail: The Cleanest Transport Mode

While greenhouse gas emissions from every other U.S. transport mode have grown for over 20 years, rail freight has cut emissions by almost 25% during the same time.

The Greenbrier Companies are a global leader in freight railcar services, maintenance, and parts, propelling transport toward a greener future.

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