In Memoriam: AACFB Mourns the Loss of
Roderick Knoll, CLFP, Immediate Past President

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New Hires/Promotions in the Leasing Business
and Related Industries

Roger Giscombe was hired as Vice President of Business Development, NFS Capital, Boca Raton, Florida.  He is located in Pompano Beach, Florida. Previously, he was Senior Sales Director, Regent Solutions Group (January, 2024 - February, 2026). He joined MyCare Medical Group October, 2020, Sales Director, promoted Sales Director, Palm Beach (October, 2020 - June, 2024); Florida Sales Director (October, 2020 - January, 2024); Sales Manager, Chen Medical (August, 2018 – September, 2020).

Robert Moskovitz was hired as Chief Financial Officer, Channel Partners Capital, Your Partner in Funding, Minnetonka, Minnesota,  working remote from Philadelphia, Pennsylvania. Previously, he was Chief Financial Officer, Verdant  Commercial Capital (May, 2020 - February, 2026); Chief Financial and Administrative Officer, TimePayment Corp., Burlington, MA. (April, 2018 - April, 2020; Chief Financial Officer, LEAF Commercial Capital (December, 2003 - December, 2017). Full Bio:
https://www.linkedin.com/in/robert-moskovitz/details/experience/
https://www.linkedin.com/in/robert-moskovitz/

Dayne Scott was hired as Regional Sales Director by Channel, Laguna Beach, California, where he is located. Previously, he was Senior Partnership Manager, Samson Funding (June, 2025 - February, 2026); Senior Account Executive (September, 2022 - June, 2025). He joined as Account Executive (November, 2021 - September, 2022). He was at Quick Bridge, starting as Funding Advisor
February, 2018, promoted Account Manager I (February, 2019 - April,2020).
https://www.linkedin.com/in/daynescott/

Cesar Silva was hired as Senior Vice President, Business Development, nFusion Capital, LLC, Miami-Fort Lauderdale Area, where he is located. Previously, he was VP, Business Development, Iron Horse Credit (December, 2018 - February, 2026). He joined American Capital Finance Group, January, 2015, Portfolio Manager, promoted International Risk Manager (January, 2016 - December, 2018); Account Executive, Scottrade Advisor Services (August, 2010 – January, 2015).
https://www.linkedin.com/in/cesarjsilva/

Zachary Wilson was hired as Broker Account Manager, Greenbox Capital, Miami, Florida, working remote from Salt Lake City, Utah. Previously, he was Account Executive, Weave (April, 2025 - February, 2026); Founding Account Executive, Glow (April, 2024 - April, 2025); Account Executive, Lendio (December, 2020 - June, 2024). Full Bio:
https://www.linkedin.com/in/zacharywilson789/details/:experience/
https://www.linkedin.com/in/zacharywilson789/

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ELFA Reports Equipment Finance Industry Confidence
Climbs Higher in February

The Equipment Leasing & Finance Association (ELFA) today released its February 2026 Monthly Confidence Index for the Equipment Finance Industry (MCI), revealing confidence in the equipment finance market rose to 67.6, up from 64.6 in January, and the highest level since January 2025. The index provides a qualitative assessment from key executives in the $1.3 trillion equipment finance industry.

February 2026 Survey Results:

• Business Conditions – When assessing the next four months, 37.5% of responding executives believe business conditions will improve, up from 34.6% in January. Those who believe business conditions will remain the same increased to 58.3% from 57.7% the previous month. The percentage of executives who believe business conditions will worsen decreased to 4.2% from 7.7% in January.
• Capex Demand – For the next four months, 45.8% of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase (up from 40% in January). Additionally, 54.2% expect demand to remain the same (down from 56% last month), and none believe demand will decline (down from 4% in January). 

• Access to Capital – Over the next four months, 33.3% of respondents expect greater access to capital to fund equipment acquisitions, an increase from 32% in January. The majority (66.7%) anticipate the “same” access to capital to fund business, a decrease from 68% the previous month. None expect “less” access to capital, unchanged from January.
• Employment – Regarding employment over the next four months, 45.8% of executives expect to hire more employees, an increase from 38.5% in January. Also, 50% foresee no change in headcount (down from 57.5% last month), and 4.2% expect to hire fewer employees, relatively unchanged from 3.9% in January.
• U.S. Economy – Of the respondents, 4.2% evaluate the current U.S. economy as “excellent,” relatively unchanged from 3.9% in January; 95.8% assess it as “fair,” down slightly from 96.2% last month; and none evaluate it as “poor,” unchanged from January.
• Economic Outlook – Over the next six months, 33.3% of respondents believe that U.S. economic conditions will “get better,” an increase from 30.8% in January. Another 58.3% expect the U.S. economy to “stay the same,” down from 61.5%; and 8.3% believe economic conditions will worsen, an increase from 7.7% last month.
• Business Development Spending – Over the next six months, 50% of respondents believe their company will increase spending on business development activities, up from 34.6% in January. Those who believe there will be “no change” in business development spending decreased to 45.8% (from 65.4% in January), and 4.2% believe there will be a decrease in spending (up from none last month).

February 2026 MCI-EFI Survey Comments from Industry Executive Leadership:

Jeffry Elliott, CLFP, CEO, Elevex Capital comments "We’re seeing some interesting dynamics in the equipment finance sector. Tax policies increase Capex spending, but favor cash or lending over leases. Business uncertainty is challenging, but equipment needs to be replaced. Inflation is eroding the benefits of lower interest rates. Lack of workforce is a challenge to reshoring and overall growth. I’m expecting a slow decline in the economy absent a large geopolitical event which could push us into severe recession.”

Peggy Tomcheck, President, Aspen Capital Company, Inc., remarks “Rapid advancements in AI are driving the need for more powerful, up-to-date computer equipment. As companies adopt AI tools and modernize their operations, they require upgraded hardware but often prefer to preserve cash flow and maintain flexibility. Equipment leases provide a cost-effective way to access current technology and easily refresh equipment as demands evolve, positioning my business for strong near-term demand.”

Jane Esworthy, VP, Communications & Marketing, ELFA, reports,The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org."

Monthly Confidence Index:
https://www.elfaonline.org/research/monthly-confidence-index-(mci)

Help Wanted Ad
    Ameris Bank Equipment Finance

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Be Vigilant
By Scott Wheeler, CLFP

Financing/Leasing Originators in the commercial equipment finance and leasing industry serve as the eyes and ears of the entire industry; the first line of defense against unscrupulous activity. I’ve written on this topic many times and, once again, it’s necessary to remind originators that bad actors don’t disappear. They adapt. They look for cracks. And they target the very professionals who work hard to provide businesses with efficient access to capital.

When the economy heats up or faces new pressures, vigilance becomes even more essential. Fraud attempts increase, creativity among bad actors rises, and the cost of a single mistake can be devastating. After reviewing several cases, the following reminders deserve renewed attention:

Trust Your Instincts
If something feels off, it probably is. Slow down. Ask more questions. Bring your concerns to colleagues — especially credit. A second set of eyes often confirms what your gut already knows.

Never Cut Corners
Policies and procedures exist for a reason. Work‑around create openings for fraud.

Complete the site inspection.
Don’t waive a guarantor signature without justification.
Ensure every document is executed properly and fully.
Shortcuts may save minutes today but can cost millions tomorrow.

Be Wary of “Too Good to Be True”
Relationships that materialize overnight, require no effort, or seem unusually eager, should raise questions. The best vendor and end‑user relationships are earned through consistency, transparency, and mutual respect; not dropped on your desk like a gift from the sky.

Watch for Coordinated Fraud
Some of the most sophisticated schemes involve a vendor salesperson and an end‑user working together. Red flags include:

• A salesperson who insists you speak only with them
• An employee of a large company who discourages you from contacting anyone else internally

Isolation is a tactic. Don’t fall for it.

The encouraging news is that the overwhelming majority of people (99%) are honest and seeking legitimate financing. But it only takes one fraudulent transaction to wreak havoc across an organization. One fraudulent vendor relationship recently erased more than half of a company’s projected annual profitability and forced significant internal resources to be diverted to contain the damage.

Vigilance isn’t paranoia. It’s professionalism. And in today’s environment, it’s essential.

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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Saluting News Advisor
Ed Castagna

Edward “Ed” Castagna, CEO, ASA, EA
Accredited Senior Appraiser
InPlace Auction
68 South Service Road, Suite 100
Melville, New York 11747
Tel.  (516) 229-1968
Cell (516) 297-7775
Fax.  (516) 882-7924
ecastagna@inplaceauction.com
www.inplaceauction.com

Edward Castagna, ASA, EA, is one of Leasing Asset Management’s pioneers in valuation and liquidation. His expertise in asset recovery and remarketing has evolved over four decades along with the latest technology. His current appraisal, recovery, and liquidation process employs “real” intelligence that is enhanced by “artificial“ intelligence.

Ed has been a member of the Leasing News Advisory Board for more than 25 years and he has spent his entire 30-plus year career at the forefront of new developments in asset management.

A Traditional Early Route 
Ed learned the industry by listening to his father who was an equipment lessor in the late 1970’s. He helped his dad liquidate portfolio assets.

He worked closely with used equipment dealers and mechanics who showed him what to look for when evaluating machinery and equipment for resale.

Over the years through hard-work and continuing education, Ed earned his ASA Appraisal designation for (MTS) Machinery & Technical Specialties, and his CEA Appraisal designation for machine tools and metal working assets. He has been hired as an expert witness in courtroom defense of challenged value and commercially reasonable sale with a high rate of success.

Ed has maintained an attitude of service and professionalism that is well received by both the lender/lessor and the borrower/lessee.

His thorough experience helps him navigate face-to-face contact with borrowers and lessees when a lease is created, and also on the back end in difficult liquidation situations.

Embracing Technology 
“My goal is to market client assets powerfully and effectively at a low cost.” 

Ed’s platform continues to evolve and innovate using the latest technology

He was the first in the industry to create a high-volume automated marketing system for repossessed and soon to be liquidated assets.

“Don’t laugh but I started with fax technology. I custom built a “fax blaster” that delivered 24,000 bid sheets per day to a curated audience based on potential buyer’s SIC code. I would target that SIC code by zip code, state, or nationwide. It was extremely successful.”

“I continue my targeted, high volume asset advertising strategy today using greatly improved technology.”

Targeted social media posts, specialized trade publications, blast email, web site SEO, and more have replaced the old fax machine.

In 2011, he launched In Place Auction, a full-service ASA appraisal, recovery, and auction company that assists financial institutions with all aspects of asset management.  From appraisals, to recovery, liquidations, and auctions.

Industry Associations, Personal News & Charities 
Edward is an active member of the following associations: Turnaround Management Association (TMA.org), National Auctioneers Association (NAA), Equipment Leasing and Finance Association (ELFA), National Association of Government Guaranteed Lenders (NAGGL), Machinery Dealers National Association (MDNA), American Society of Appraisers (ASA) and Association of Machinery and Equipment Appraisers (AMEA).

He earned a B.A. from Syracuse University and is a graduate of the Mendenhall School of Auctioneering. Ed served on the Equipment Leasing and Finance Association (ELFA) Board of Directors from 2006-2009 representing its service provider members.

He is one of the founding members and President of the Tender Loving Care Foundation (www.tenderlc.com) that provides parent counseling, and critical care equipment to the NICU’s of the Northwell Health System. His favorite place to be is anywhere with his wife Jeanine, their two boys.

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Charting The Rising Prices of Popular
Beer Brands (2015 - 2025)

This chart compares the average retail prices for a 12-pack of 12-oz cans or bottles of popular beer brands in 2015 vs. 2025, based on data from FinanceBuzz. It’s worth noting that the data is from a limited sample of one retailer, and prices may vary regionally and across retailers

Key Takeaways

The average price of a 12-pack of beer has risen 41% since 2015.

• Sam Adams Summer Ale saw the steepest increase, jumping 71% over the decade.

• Budget-friendly staples like Miller High Life and Pabst Blue Ribbon both saw prices rise by 44%, climbing from $8.99 to $12.99.

• Beer prices have risen nearly twice as fast as overall alcohol inflation in the United States.

By VisualCapitalist

News Briefs

deBanked CONNECT MIAMI Draws 1,100 People,
   Sets All-Time Record: See Photos Here
https://debanked.com/2026/02/debanked-connect-miami-draws-1100-people-sets-all-time-record-see-photos-here/

Amazon overtakes Walmart to lead the world in sales
https://www.cnn.com/2026/02/19/business/walmart-amazon-sales-companies

At Massachusetts stores, the demise of the penny
    is adding up to one big headache
https://www.bostonglobe.com/2026/01/14/business/penny-shortages-massachusetts-rounding/

Trump Mulls a North American Trade Pact Without Canada
https://www.nytimes.com/2026/02/19/business/economy/trump-canada-mexico-usmca-trade.html

UK blocks Trump from using RAF bases for strikes
     on Iran — and he is already retaliating
https://nypost.com/2026/02/19/world-news/uk-blocks-trump-from-using-raf-bases-for-strikes-on-iran-and-he-is-already-retaliating/

Donald J. Trump International Airport?
   The President’s Company Trademarked It.
https://www.nytimes.com/2026/02/18/us/politics/trump-trademark-airport-name.html

Veterans sue over Trump’s planned 250-foot arch
    citing cemetery views
https://www.washingtonpost.com/politics/2026/02/19/trump-arch-250-lawsuit/

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The Beef Industry Has a Message for Consumers:
     Get Used to High Prices
https://www.wsj.com/business/beef-prices-higher-cattle-2e0a9b65?mod=business_lead_story

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Sports Briefs

In the shadow of the Super Bowl,
   Great America slowly dies
https://www.sfgate.com/travel/article/super-bowl-great-america-21316236.php

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California News Briefs

UCLA fires CFO days after he tells Daily Bruin about ‘financial management flaws and failures’
https://www.sgvtribune.com/2026/02/18/ucla-fires-cfo-days-after-he-tells-daily-bruin-about-financial-management-flaws-and-failures/

Marin residents among victims of Sierra avalanche, officials sayhttps://www.marinij.com/2026/02/19/multiple-victims-had-ties-to-ski-resort-school-near-the-avalanche-site/

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Gimme that Wine

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

California wine giant Gallo closing facility,
  laying off workers at four other locations
https://finance.yahoo.com/news/california-wine-giant-gallo-closing-203613092.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cud2luZWJ1c2luZXNzLmNvb
S8&guce_referrer_sig=AQAAAHWq-YCmQ_IgXuDLi52llDHh0WMfa051LTenhMGrR4RAB_t-s2nmRFw5AQnlGIGWs40OVSs8Nj-rWjf5g9AwI41MnrYHQPr1ZNPl6AZMdedNHF2hTLLeVpIcrVRUvHDbIFXjRbuAWnOOozbNOiU33a
Wyy6RxUlSbaX4xSq3YyQO8

The third-largest U.S. wine company is selling
     two of its best Napa vineyards
https://www.sfchronicle.com/food/wine/article/trinchero-vineyards-sale-21360518.php

Breakthru Beverage Lays Off
500 Workers Amid Industry Shakeup
https://www.brewbound.com/news/breakthru-beverage-lays-off-500-workers-amid-industry-shakeup

Festival of Undiscovered Grapes Celebrates Successful
   San Jose Debut, Returns to Los Angeles for Third Year  
      This March
https://www.winebusiness.com/news/article/314156