New Hires/Promotions in the Leasing Business
and Related Industries

Ryan Bauer was promoted to Assistant Vice President, Multinational Credit Officer, CSI, St. Louis, Missouri, where he is located. He started at CSI May, 2023, as Multinational Credit Officer. Previously, he was Director of Equipment Finance and Leasing, Saint Louis Bank (October, 2021 - February, 2023); Senior Vice President, Equipment Finance, Central Bank of St. Louis (January, 2015 - October,2021); Vice President, Finance, CSI Leasing, Inc. (August, 2008 - December, 2014).
https://www.linkedin.com/in/ryan-bauer-2b965510/

Nate Carter was hired as Vice President, Regional Finance Specialist, F.N. B. Corporation, South Carolina. He works remote from Malvern, Pennsylvania. Previously, he was Director of Diversified Markets, Balboa Capital (June, 2022 - July, 2024). He worked for 17 years, 2 months, DLL, last as Senior Account Manager, June, 2022.
https://www.linkedin.com/in/natelcarter/

Bill Elmore was promoted  to Senior Vice President, Applications Development, CSI, St. Louis, Missouri, where he is located. He joined CSI June, 1999 in Application Development ser9ving previously as Vice President.
https://www.linkedin.com/in/bill-elmore-a7519846/

Scott Geistkemper was promoted to Senior Vice President (SVP), Operations, Great America Finance ,Cedar Rapids, Iowa. He is located in Dallas County, Iowa. Previously, he was Senior Finance Manager, Wells Fargo (August, 2014 - June, 2022); Vice President of Accounting/Finance & Controller, CoOportunity Health (September, 2012 - August, 2014); VP Business Performance Sales and Distribution/CEO, Aviva, USA (February, 2011 - September, 2012): Senior Manager, Audit, KPMG (October, 2002 - February, 2011).
https://www.linkedin.com/in/scott-geistkemper-63b18180/

Yvonne P. Tedder was promoted to Vice President, Human Resources, CSI, St. Louis, Missouri, where she is located. Previously Director of Human Resources (February, 2024 - April, 2025). Previously, she was at Precoat Metals, starting September, 2013, Manager, Talent Acquisition & Employee Development (September, 2013 - June, 2020); Director, Human Resources, Region Corporation (formerly Insituform Technologies, Inc.) (April, 2006 - June, 2012); AVP, Manager, Staffing, First Banks, Inc. (June, 1999 - March, 2006).
https://www.linkedin.com/in/ytedder

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Farewell Corporate Transparency Act?
Ken Greene, Leasing News Editor, Emeritus

Good news for a change! It appears likely that the Corporate Transparency Act (CTA) will no longer be another thorn in the side of U.S. companies and businesses. On March 2, 2025, the Treasury Department announced that it would no longer enforce penalties and fines associated with the beneficial ownership information (BOI) rule under the CTA. Less than three weeks later, the Department’s Financial Crimes Enforcement Network (FinCEN) issued an interim rule that would recalibrate the CTA. The most momentous change is the removal of the requirement that U.S. companies and individuals report BOI.

The definition of “reporting company” in the CTA would be revised to mean only entities that are formed under foreign law and have registered to do business in any U.S. state or tribal jurisdiction. The interim rule, if it becomes permanent, would also remove reporting requirements for U.S persons who are beneficial owners of foreign companies that report BOI.

The stated purpose of the CTA is to combat financial crimes like money laundering and tax fraud. There have been a host of legal challenges to the law, including a pivotal ruling by an Alabama federal judge in a case entitled National Small Business United v. Yellen. Those of us who have been following the rollercoaster trajectory of this federal statute are not surprised to witness its probable demise. The goal of the interim rule, assuming final adoption, is to alleviate unnecessary regulatory burdens. This laudable objective will be welcome relief to businesses throughout the country. Those of us doing business in California can only hope that the Golden State follows suit.

Ken Greene   
Law Office of Kenneth Charles Greene
5743 Corsa Avenue, Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
www.kengreenelaw.com

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Amembal Offers Second Free Webinar on
Accounting for Leases: A Customer Perspective

Sudhir Amembal, CEO of Amembal & Halladay, an affiliate of Rinaldi Advisory Services, will instruct a free webinar on May14, at 2 pm (MT).

The first webinar held on March 4 was attended by over 250 industry professionals.

In about 30 minutes, attendees will gain the confidence needed to interact with their customers on a complex subject that will help in closing deals with customers who are financial-reporting conscious.

Attendees will learn to use the proper terminology, understand the correlation between marketplace products and their accounting classification, learn the criteria distinguishing between the two types of leases, grasp how the two types of leases are reflected on financial statements, and conclude what type of lease provides varied financial reporting benefits that customers seek to obtain.

The webinar will be of substantial benefit to newcomers as well as seasoned professionals. Newcomers will learn; seasoned professionals will be provided with a refresher as well as practical tips enabling them to garner incremental transactions. Back-office personnel will obtain a birds-eye view of an important topic.

Sudhir Amembal created the first-ever equipment leasing seminar in the U.S.  Since then, his firm has trained over 80,000 equipment finance professionals throughout the world and has published 18 industry best-sellers. Sudhir was inducted into ELFA's Hall of fame in 2016 and was a nominee for "The Legend" and "MVP Behind the Scene " awards at The Monitor Converge 2023.  In 2024, The Monitor honored him as an "Industry Pioneer Icon".  He is the first person to be awarded an honorary CLFP credential by the CLFP Foundation.

Those seeking to attend the free webinar should contact Kelly Farnham at kelly@amembalandhalladay.com.

Balboa Capital Available Position
Program Manager II- Equipment Broker Sales

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America has lost its appetite for casual dining chains
By Nathaniel Meyersohn, CNN

Restaurant industry icons where Americans went out for decades for wings, dinner, and celebrations are facing a crisis.

Hooters filed for bankruptcy this week, the latest casual dining chain to go belly up. Red Lobster, TGI Fridays and Buca di Beppo also filed for bankruptcy in the last year. Meanwhile, sales at Denny’s, Applebee’s, Outback Steakhouse, Bonefish Grill, Red Robin and Cracker Barrel’s are dropping, and they are shuttering hundreds of restaurants.

Casual dining chains typically cater to lower and middle-income families looking for a sit-down meal, but diners are abandoning these companies as their disposable income shrinks. These restaurants have been hiking menu prices at the same time their customer base has been squeezed by the rising cost of living. Since 2019, restaurant prices have increased 34%, outpacing the overall growth of inflation during that same period, according to Bureau of Labor Statistics data.

“They’re trying to aim at the average middle consumer,” said Ernest Baskin, an associate professor of food marketing at Saint Joseph’s University. “When consumers start watching their budget, the middle shrinks.”

Instead, diners are choosing to cook dinner at home and are finding cheaper options to grab a meal. That includes frequenting fast-food chains such as Chick-fil-A and Raising Cane’s, and fast-casual restaurants like Chipotle and Cava.

In 2024, sales across the casual dining sector dropped 0.9%, while growing 0.6% at fast-casual chains and 1% at fast-food chains, according to data from Black Box Intelligence.

“In a time-starved world, people want something to be quick at an affordable price,” said Brian Vaccaro, an analyst at Raymond James.

Another sign of the consumer shift from sitting down for dinner at a restaurant to picking up a meal from a fast food or a fast-casual spot: When casual dining chains close, fast-food and fast-casual restaurants have been replacing them —usually with drive-thru stores. Chick-fil-A, for example, is taking over a shuttered Red Lobster in Naples, Florida.
.
Fast-casual is also more profitable to operate than sit-down restaurants. Chipotle and other fast-casual chains’ locations are smaller, and they require fewer workers and less maintenance to run than full-service restaurants.

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Leasing News Advisor
Ed Castagna

Edward Castagna, CEO
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 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 16 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 InPlaceAuction, 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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Postage to Go Up,
Employees to Be Let Go

Sending a domestic letter through the post office could cost 78 cents starting July 13, 5 cents more than the price of a first-class mail stamp today, if the Postal Regulatory Commission approves proposed adjustment.

The U.S. Postal Service said it notified the commission of plans to raise letter and postcard rates an average of 7.4%.

Single-piece letters weighing more than an ounce will increase a penny to 29 cents for each additional ounce.

During the first quarter of fiscal year 2025, the organization narrowed its net loss to $140 million. It generated about $150 million in operating profit versus a $2 billion loss for the same period in the prior year..

Under a restructuring plan called Delivering for America, the Postal Service has reduced billions of dollars in costs by adjusting the logistics network to integrate delivery of mail and package categories and shift more air transportation to ground, and it has created new products, adjusted rates and persuaded Congress to repeal a requirement that the Postal Service prepay health plans for retirees.

Postmaster General Louis DeJoy told Congress in a letter that the USPS aims to eliminate 10,000 jobs using a voluntary early retirement program over the next 30 days to reduce costs at the financially strapped U.S. Postal Service.

The USPS employs roughly 635,000 people. The retirement program was announced on Jan. 13, under the direction of DOGE

https://www.cbsnews.com/news/usps-cut-10000-workers-elon-musks-doge/

News Briefs

A Frenzy at Trader Joe’s: ‘Everyone’s Here
    for the Tote Bags’
https://www.nytimes.com/2025/04/09/business/trader-joes-tote-bags.html

Publishers Clearing House, known for its 'Prize Patrol'  
    sweepstakes, files for bankruptcy
https://finance.yahoo.com/news/publishers-clearing-house-known-prize-194544259.html

Egg prices hit record high in March — despite fewer bird flu
    outbreaks, lower wholesale costs
https://nypost.com/2025/04/10/business/egg-prices-hit-record-high-in-march-despite-fewer-bird-flu-outbreaks-lower-wholesale-costs/

The Keystone oil pipeline spilled over 147,000 gallons
    of Canadian oil destined for U.S. refineries
https://fortune.com/2025/04/10/keystone-oil-pipeline-spill-crude-refineries-canada-south-bow/

Pressuring Migrants to ‘Self-Deport,’ White House Moves
    to Cancel Social Security Numbers
https://www.nytimes.com/2025/04/10/us/politics/migrants-deport-social-security-doge.html

Trump’s incoherent trade policy
    will do lasting damage
https://www.economist.com/leaders/2025/04/10/trumps-incoherent-trade-policy-will-do-lasting-damage

Federal Judges Limit Trump's Use of
    Alien Enemies Act for some Deportations
https://www.nbcnews.com/news/latino/federal-judges-limit-trump-alien-enemies-act-deportations-rcna200418

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Apple’s Steve Jobs dealt with the 2008 financial crisis by
 investing  his way through the downturn, instead of
   slashing jobs and   budgets —  2 years later the iconic
      iPad was launched
https://finance.yahoo.com/news/apple-steve-jobs-dealt-2008-154148301.html

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Sports Briefs

 The race for promotion to the Premier League has
  a US flavor and there’s $180 million riding on it
https://www.pressdemocrat.com/article/sports/the-race-for-promotion-to-the-premier-league-has-a-us-flavor-and-theres-1/

My God, the SF Giants are fun again
https://www.sfgate.com/giants/article/sf-giants-are-fun-again-20268231.php\

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California News Briefs

The most expensive house in America just
     hit the market again
https://www.sfgate.com/la/article/most-expensive-house-listing-hits-market-again-20253245.php

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Gimme that Wine

 

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

Chenin Blanc Is Making a Comeback in Sonoma County.
   Here’s Where to Taste It
https://www.sonomamag.com/chenin-blanc-is-making-a-comeback-in-sonoma-county-heres-where-to-taste-it/?utm_id=a2l0bWVua2luQGdtYWlsLmNvbQ==

Constellation Brands to Divest Cheaper Wine
Amid Organizational Reviewhttps://www.wsj.com/business/retail/constellation-brands-to-divest-cheaper-wine-brands-amid-organizational-review-513ed2dd?mod=business_feat2_retail_pos5

Enter to Win a Trip for Two to J.Lohr Wine- Paso Robles, Ca.
https://www.sfgate.com/giants/article/sf-giants-are-fun-again-20268231.php

Vineyards Being Grafted Over to More
Marketable White Varieties
https://www.winebusiness.com/news/article/300640

Foley Family Wines & Spirits Announces Women in Wine
Scholarship Fund
and Donation to the CMS - A Women's Sommelier Symposium
https://www.winebusiness.com/news/article/300635