New Hires/Promotions in the Leasing Business
and Related Industries

Carlos Cappuccio was hired as Senior Business Development, Account Manager, Healthcare, NewLane Finance, Philadelphia, Pennsylvania. He is located in Mount Laurel, New Jersey. Previously, he was Senior Business Development Officer, First Lease, Inc. (August, 2016- July, 2014); Commercial Account Executive, Vendor Direct, Apex Commercial Credit (August, 2016 - July, 2014); Equipment Finance, Territory Manager, LFC Corporation (1991 - June, 2016); Equipment Finance, Territory Manager, the CIT Group (May, 1985 - December, 1990).
https://www.linkedin.com/in/carlos-cappuccio-a315478/

Greg Marullo was hired as Senior Business Development Manager, Account Manager, NewLane Finance, Philadelphia, Pennsylvania. He is located in Wakefield, Massachusetts. Previously, he was Senior Business Development Manager, TimePayment Corp. (June, 2010 - June, 2024); Account Manager, Systems Pros, Inc. (January, 2009 - May, 2010); Account Manager, Oxford International (January, 2007 - January, 2009).
https://www.linkedin.com/in/greg-marullo-2437a5a/

Rob McKenna was hired as Vice President and Senior Account Manager, Summit Funding Group, Mason, Ohio. He previously was at Signature Bank, recently sold to Flagstar Bank, as Vice President (May, 2013 - July, 2024).  Previously, he was District Sales Manager, PACCAR (September, 2010 - May, 2013).  Full Bio:
https://www.linkedin.com/in/robert-mckenna-14119514/details/experience/

Jeffry Pfeffer as hired as Executive Director, CSC Leasing, Greater Chicago Area. He continues as Owner, Deerspring Capital Advisors (April, 2024 - Present). Previously, he was President, Gibraltar Equipment Finance (March, 2023 - March, 2024). Full Bio:
https://www.linkedin.com/in/jeffry-pfeffer-05019912/details/experience/
https://www.linkedin.com/in/jeffry-pfeffer-05019912

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Lion Electric Slashes Workforce Again as
Losses Widen and Stock Shares Fall
By Today'sTrucknews.com

Lion Class 8 Truck
(Photo: Steve Bouchard)

The Lion Electric Company, based in Montreal with 12 experience centers in operation in the United States and Canada, reported weak Q2 earnings.  Revenue nearly halved year over year to $30.0 million (all figures US) and a net loss of $19.3 million compared to a year-ago net loss of $11.8 million.

The Lion Electric Company delivered 101 vehicles in the quarter, 98 fewer than Q2 2023, which it blamed on “the impact of timing of EPA rounds and the continued delays and challenges associated with the granting of subsidies related to the "ZETF program.”

The launch of its Class 8 truck was among the achievements in Lion’s second quarter.

Deliveries were also impacted by the company’s integration of its Lion MD batteries and ramp-up of its Lion5 and LionD platforms. Its gross profit of $400,000 in Q2 2023 compares to a gross loss of $15.2 million in the second quarter of this year.

The earnings report was accompanied by news of further restructuring which includes slashing its workforce by 30% (about 300 employees) in the U.S. and Canada, across all areas of the business.

Lion also plans to trim its truck manufacturing output due to lower market demand than initially expected for all-electric trucks. It plans to sell its battery packs to third parties and will sub-lease part of its Joliet, Ill., plant and other facilities. The company is also examining ways to reduce costs including third-party logistics and consultants.

Lion reported it now has more than 2,100 vehicles on the road with more than 46 million kilometers traveled. It has 190 trucks and 1,804 buses on its order books with a combined value of about $475 million.

CEO and founder Marc Bedard said in a release, “Despite the important challenges the electric vehicle market is currently facing, Lion has been able to realize major headway in the recent rounds of the EPA program, which should bring significant positive momentum to our company, and also made important progress in the last quarter, such as the commercial launch of our Lion8 tractor and the certification of our Lion Battery HD pack.

“Transition to electric is taking longer than initially expected, but transportation electrification is here to stay. It is with that mindset that we have put together an action plan to adjust our cost structure to enable us to continue to support the increasing electric school bus demand and maintain our leadership position, while allowing us to keep supporting the truck operators in their electric transition and focus on our profitability objectives,” he added.

Shares at Thursday stock closing (Yahoo Finance)

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support
Plus other openings for successful, growing funders

Over 5.4 billion people use the internet regularly, making up 67.1% of the global population.

Here, we rank the most visited websites worldwide, drawing on recent data from Similar Web (as of June 2024).

Google Dominates Global Web Traffic

According to SimilarWeb data, Google.com is the world’s largest website, commanding 18.32% of global web traffic. The Alphabet-owned website services over 8.5 billion search queries daily.

Google’s dominance is so pronounced that it has prompted the U.S. Justice Department to file a civil antitrust lawsuit, alleging that the company engages in anticompetitive and exclusionary practices. YouTube.com, another Alphabet-owned property, holds the second spot with a 6.96% traffic share.

Among the top 15 websites, U.S. companies dominate with 11 entries.

Meanwhile, only two Chinese websites, Baidu and TikTok, make the list, contributing 1.49% of traffic combined. The presence of Russia’s Yandex and the Czech Republic’s Xvideos is also noteworthy. They are the only non-U.S. and non-Chinese entries among the top 15.

What Types of Websites are Most Visited?

Social media platforms are prominent in the ranking, with Facebook, Instagram, Twitter, WhatsApp, Reddit, and TikTok all featuring in the top 15. Wikipedia.org is notable as the only non-commercial site in this group.

The ranking also includes Xvideos, a major player in adult content, and Amazon.

ChatGPT.com has also made it into the top 15 websites list, reflecting its growing popularity and widespread usage. As the impact of AI grows, will other AI-driven websites make their way into this ranking?

Source: visualcapitalist

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Federal Reserve issues FOMC statement
Unabridged State on Interest Rates

Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have moderated, and the unemployment rate has moved up but remains low. Inflation has eased over the past year but remains somewhat elevated. In recent months, there has been some further progress toward the Committee's 2 percent inflation objective.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals continue to move into better balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage‑backed securities. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Thomas I. Barkin; Michael S. Barr; Raphael W. Bostic; Michelle W. Bowman; Lisa D. Cook; Mary C. Daly; Austan D. Goolsbee; Philip N. Jefferson; Adriana D. Kugler; and Christopher J. Waller. Austan D. Goolsbee voted as an alternate member at this meeting.

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Charging an Electric Vehicle is Cheaper Than
Filling a Gas Tank Everywhere in America
By Matthew W. Daus, Esq.

Gas prices, like all volatile fossil fuels that are traded on a global market, remain highly unpredictable. And those volatile gas prices can cause pain at the pump: In 2022, the average summer (June-August) gas price was $4.60/gallon, in 2023 it was $3.78/gallon, and so far in 2024 gas prices are already up 12% from their January low of $3.20/gallon.

Over the course of a single road trip, those differences add up quickly and can make a serious dent in travelers’ expenses. The “gas price rollercoaster” can often be a scary ride – but electric vehicles provide consumers the choice to get off that rollercoaster and cut costs. Electricity prices are far more stable than gas prices, and far cheaper.

Energy Innovation’s EV Fill Up Tool shows that no matter where you are in the country, in every state, every EV is cheaper to fill up than a gas-powered vehicle, even when accounting for range differences between the two engine
Types.

Matthew W. Daus, Esq.
Partner and Chairman, Windels Marx Transportation Practice Group
President, International Association of Transportation Regulators,
Transportation Technology Chair, University Transportation Research Center
Contact: mdaus@windelsmarx.com
156 West 56th Street | New York, NY 10019
T. 212.237.1106 | F. 212.262.1215

Source Forbes:
https://www.forbes.com/sites/energyinnovation/2024/07/29/charging-an-electric-vehicle-is-cheaper-than-filling-a-gas-tank-everywhere-in-america

How Federal Banking Consumers Can Get Greater
Yields on Deposits - Using Alpha Banking
By Dr. Dan Geller

The inherent limitation of Annual Percentage Yields has forced banking consumers to seek greater return elsewhere, i.e., alpha banking. Alpha banking (Banks and credit unions) provide their consumers with a Scientifically Predictable investment program designed to outperform the market (Produce alpha) with extremely high level of confidence and with very low risk or cost.

The Scientifically Predictable investing program is based on the latest scientific discovery in behavioral finance, which was published in the Social Science Research Network. The study, “Money Anxiety Theory - a Predictor of Equity’s Performance,” by Dr. Dan Geller, makes it possible for self-directed investors to invest independently and with a high level of confidence.
The study shows that the top five ETFs selected by the Scientifically Predictable investing model  outperformed the market (S&P 500) by 30.5% for a total return of 90.5% in five years.

The study also revealed that the predictive model achieved this performance during a highly volatile market, 2018-2023 demonstrating that the hypotheses of this study are valid during bull or bear markets.

Moreover, since the Scientifically-Predictable-investing program consists of top five passive ETFs, anyone can use it without any prior knowledge or experience in investing. And since the program does not require an investment advisor or money manager, there are no advice fees or commissions.

For the banking institution, Scientifically Predictable eliminates the need for hiring investment advisors.

Overall, alpha banking is the future of banking because it caters to the two types of consumers – savers and investors. Savers prefer deposit products, which are priced optimally and scientifically to control interest expense and manage liquidity. On the other hand, investors can outperform the market scientifically and predictably, and without any intervention or cost associated with investment advisors.

Dr. Dan Geller
Behavioral Economics
in Financial Projections
Scientifically Predictable
drgeller@analyticom.com
https://www.scientificallypredictable.com
415-891-3093

Dr. Dan Geller is a Behavioral-finance scientist, and a renowned expert in decision science. Dr. Geller is the developer of the Money Anxiety Theory, which explains how people alternate between their instinctive and analytical decision modes. His scientific discovery made a major contribution to the knowledge

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Amur Completes 14th Term Securitization
$476.25mm transaction brings total note
issuance above $4 Billion
By Loren Ivler

GRAND ISLAND, NE, Amur Equipment Finance, Inc. (“Amur”) is pleased to announce the completion of its 14th term securitization, in which it issued $476.25 million in notes secured by equipment loans and leases originated through its platform. The transaction saw strong demand across all classes and was several times oversubscribed. Truist Bank served as sole structuring agent and lead bookrunner, with BMO and Bank of America serving as joint bookrunners.

Kalyan Makam, Chief Executive Officer said, "Amur’s success is a credit to the quality of its partnerships," said. “At Amur, we know we can only succeed when our partners do. On behalf of our 300 employees, I would like to express our sincere gratitude to our customers, origination partners, investors and bank partners for their faith in us and the critical role that they have played in our success.”

This transaction comes during a period of record origination volume for Amur, with over $500 million originated during the first six months of 2024. This transaction also represents the strongest collateral pool by nearly every metric, including weighted average FICO, percentage of super-prime borrowers and diversification of equipment and industry classifications.

Makam added, “We are thrilled to have the support of over 30 repeat investors, as well as seven new investors. Thank you to our partners at Truist, BMO and Bank of America – this was a great transaction for us in which our ‘no short cuts’ approach to origination, decisioning and servicing helped to distinguish us in a crowded marketplace.”.

Amur provides point-of-sale equipment finance to small and medium-sized businesses nationwide together with the Amur Difference – industry-leading value-enhancing service – to both partners and customers. Amur is excited to launch several new and exciting initiatives later this year, further expanding the Amur Difference, strengthening our relationships and enhancing the experience of our partners.

About Amur Equipment Finance, Inc.

Amur Equipment Finance is one of the largest and fastest growing independent providers of commercial equipment finance in the country and is dedicated to serving its customers and partners with fast, flexible, and customized solutions. We hold true to our people-focused roots of over 25 years, ensuring consistently exceptional service and a consultative relationship with our broker and vendor origination partners as well as our customers. With a growing team of 285 talented employees, an efficient, purpose-built processing platform designed to deliver an excellent experience and a sole focus on the equipment finance market, Amur is well-positioned to continue to serve the financing needs of its customers and partners well into the future. Headquartered in Grand Island, NE since 1996, Amur serves equipment-intensive industries, including construction, commercial and industrial equipment, transportation and technology.

https://www.goamur.com/

### Press Release #########################

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

As summer continues to heat up, the Criterion channel offers the chill of suspense with their “Vacation Noir” collection. Whether in black-and-white shadows or vivid Technicolor, tension goes on a holiday as these classics stream all month long.

Leave Her to Heaven (1945): Film-noir classics don’t come much delirious than this splashy melodrama, which gave Gene Tierney one of her juiciest, most unsettling roles. She plays Ellen Berent, a beautiful young socialite who falls in love with and swiftly weds Richard (Cornel Wilde), a writer with a noted resemblance to her late father. Seemingly the very perfect picture of a devoted wife, Ellen comes to show increasingly obsessive signs of possessive psychosis when it comes to her new husband. When that jealousy starts to take aim at her foster sister Ruth (Jeanne Crain), how long will it be before her behavior turns deadly? Directed in frenzied Technicolor by the usually staid John M. Stahl, the film blends cinematic beauty with the characters’ inner darkness in unforgettable ways.

The Lady from Shanghai (1947): Orson Welles directs and stars in this endlessly fascinating thriller, a picture of such bitterly subversive vision that it effectively derailed the genius filmmaker’s career in Hollywood. Michael O’Hara (Welles) is an Irish seaman who one night rescues the beautiful Elsa (Rita Hayworth) from hooligans and promptly falls into her web of deceit. Married to a defense attorney (Everett Sloane), she hires O’Hara as a sailor in her husband’s yacht as they travel to San Francisco by way of the Panama Canal. What follows is a maelstrom of betrayal, murder, and wacky courtroom speeches that builds to a legendary climax in a funhouse’s hall of mirrors.Playing havoc with the tropes of the genre, Welles offers a noir masterpiece that’s at once bewildering and exhilarating.

Brighton Rock (1948): A famous British vacation spot, Brighton is a place brimming with shadowy alleys in this tense adaptation of Graham Greene’s classic suspense novel.Better remembered for the avuncular roles he’d play later in life, Richard Attenborough is the striking embodiment of ruthless evil as teenage criminal Pinkie Brown. On the run from the law after murdering a reporter, he marries a waitress named Rose (Carol Marsh) in order to keep her from providing evidence. Managing to elude the police but threatening Rose’s life, Pinkie is investigated by Ida (Hermione Baddeley), an entertainer convinced he is a murderer. Made by filmmaking brothers John and Roy Bolting, the film follows Greene’s themes of sin and morality in a moodyportrait of the seaside town anchored by Attenborough’s startling turn.

Niagara (1953): Marilyn Monroe had one of her most sizzling roles in this eye-catching thriller, which sets its lurid plot against the natural majesty of the Niagara Falls. The setting is a vacation commune, where the provocative Rose (Monroe) is spending summer with her husband, a haunted war vet named George (Joseph Cotten). Their explosive marriage is contrasted with virtuous young newlyweds (Jean Peters, Casey Adams), and continues to simmer as Rose’s affairs with other men push the disturbed George over the edge. Things soon take a dark turn, with a feeling of danger that swingsfrom the top of a clock tower to the bottom of a waterfall. Directed by Henry Hathaway (“Nevada Smith”), the movie remains memorable for its Technicolor frenzy and for Monroe’s inimitable sultriness.

Purple Noon (1960): Noir goes Gallic in this sun-drenched adaptation of Patricia Highsmith’s acclaimed novel “The Talented Mr. Ripley,” which helped make Alain Delon a superstar. Delon plays Tom Ripley, a young American hired to bring a fun-loving playboy, Phillippe Greenleaf(Maurice Ronet), from his Italian sojourn back home for business. Craving his friend’s luxurious lifestyle, as well as his beautiful girlfriend (Marie Laforet), Ripley comes up with a scheme to take over Phillippe’s identity during a boat cruise. Forging signatures and fooling the authorities, he slowly reveals a sneaky, psychotic streak—one that would go to deadly lengths to hang on to his new wealth. Director René Clément shrewdly keys the suspense to the breathtaking Mediterranean locations and to Delon’s deviously steamycharisma.

Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since 2008. His reviews appear each Friday.

Whippet
Boston area, Massachusetts  Adopt-a-Dog

Mae

Female
30 lbs.
House Training
Spayed
Vaccinations up-to-date
Good in home with
other dogs, cats, children
Characteristics:
Smart, Athletic, Friendly, Playful

Meet Mae!

This little lady has been homeless for more than eight months. How can a cute puppy take so long to be adopted? Apparently her adopters haven’t seen the memo yet!

Mae is about 10-months old and weighs about 30 pounds. All she wants is to belong to a loving family who will play with her, teach her new things, and of course snuggle. She’s people friendly, except when she goes to the vet! She prefers a home with another dog or two, and she is also good with cats.

Mae is so smart that she puts herself to bed in her crate every night. She’s potty-trained, spayed, and UTD on shots. She is being cared for outside of Boston, MA. According to her intake paperwork, Mae is a mix of whippet, terrier, and lab, but this may (no pun intended) be just a guess.

MassPAWS
P.O. Box 520136
Winthrop, MA 0215
masspaws@aol.com
617-846-5586

News Briefs

Apple revenues rise on strong services
   business and iPad sales
https://www.ft.com/content/db0b3798-5c5d-4279-9f26-38b0e23136b1

Why Microsoft’s Earnings Miss Won’t
    Stall the A.I. Boom
https://www.nytimes.com/2024/07/31/business/dealbook/microsoft-ai-spending-tech-stocks.html

Intel to cut 15% jobs, suspend dividend in
    turnaround push; shares plummet
https://www.yahoo.com/finance/news/intel-forecasts-third-quarter-revenue-200355230.html

Dow slides almost 500 points as Wall Street
    frets over economic data
https://www.washingtonpost.com/business/2024/08/01/markets-dow-nasdaq/

If D.O.T. Gets Its Way, Families Will Sit
    Together on Flights for Free
https://www.nytimes.com/2024/08/01/travel/transportation-department-family-seating-rule.html

 

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The 10 worst states to retire in the U.S.—
No. 1 isn’t California or New York
https://www.cnbc.com/2024/07/30/worst-states-to-retire-in-the-us.html

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Sports Briefs---

Katie Ledecky becomes most decorated American
female Olympian ever with 13th medal
https://nypost.com/2024/08/01/sports/katie-ledecky-wins-13th-olympics-medal-more-than-any-american-woman-ever/

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California News Briefs---

What does it really mean when a wildfire is
‘contained’ or ‘controlled’? Key terms explained
https://www.sacbee.com/news/california/fires/article290568574.html

Deal shows that some Bay Area real estate still
entices buyers despite wobbly market
https://www.mercurynews.com/2024/07/30/richmond-real-estate-property-industry-economy-build-develop-buy-sell/

SF Bay Area home prices up 6% from last year as
wealthy buyers dominate housing market
https://www.mercurynews.com/2024/07/30/bay-area-home-prices-up-6-from-last-year-as-wealthy-buyers-dominate-housing-market/

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Gimme that Wine

 

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

Willamette Valley Vineyards Emerges as Top Tasting Room
in the Nation in USA TODAY 10Best Readers' Choice Awards 2024
https://www.winebusiness.com/news/article/290657

10 Wines From California, $20 to $40,
  to Drink Right Now
By Eric Asimov
https://www.nytimes.com/2024/08/01/dining/drinks/californian-wines.html

Lail Vineyards Receives Napa Green Certification,
  And Reduces Waste by Eliminating Foil Capsules,
Using Lighter Bottles, and Shorter Corks
https://www.winebusiness.com/news/article/290635

New Mexico's Old School Bordeaux
North and South Side of State Quite Different
https://www.wine-searcher.com/m/2024/08/new-mexicos-old-school-bordeaux