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How Did Leasing Stock Do in Yesterday’s Surge?
While the Dow was up 490.05 points (4.4%) and NASDAQ was up 104.83, here are the changes in leasing company stock (General Electric covers a lot more than leasing, but is included due to GE Capital, as well as Resource America has other entities besides LEAF Financial.)
Marlin Business Services
Resource America (LEAF)
A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program | D -"Private label Program" | E - Also "in house" salesmen
“We always notify our customers in advance of the termination. A customer can always purchase lease unit as long as all charges connected with the lease are paid in full (tax, tickets, and excise tax if any). We never have a problem with customers buying their vehicles. We do have some customers that request we sell their vehicles at auction and we charge a sale fee and pay off our account.”
(Click on Company Name to See Their Statement)
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Lou Altobelli was hired as Director, Sales Market Leader Healthcare at CIT, Greater Chicago area. Previously he was Vice-President, Business Development, US Bank Equipment Finance (April, 2008-November, 2011), Relationship Manager, GE Healthcare, GE Healthcare Financial Services (March, 2003-April, 2007), National Sales Manager, Healthcare, HPSC, Inc. (June, 2002-March 2003), VP-Director of Sales Healthcare, American Express Business Finance (April, 1999-June, 2002), Director of Sales & Business Development (Healthcare Group), GE Vendor Financial Services (January, 1997-April, 1999), Vice-President of Sales, Healthcare, Trans Leasing (March, 1981-March, 1996).Northern Illinois University BS Mgmt, Management(1978 – 1980).Activities and Societies: Delta Upsilon Fraternity
Bob Heron named regional vice president of sales for First Financial Healthcare Solutions, Placentia, California, to support customer base through the Southeast and manage new office located in St. Augustine, Florida. Previously was with TD Equipment Finance, Inc. for six years, serving last as vice-president. "Prior to that, Heron was with Tokyo Leasing for eight years, most recently as senior executive vice president. Heron holds a BS from St. John’s University, along with an MBA from New York Institute of Finance. The new office is located at 4436 Coastal Highway, St. Augustine, FL, 32084, (904) 547-2819.
Eric Kraheck named Vice-President, Commercial Equipment Finance at M&T Bank, Greater Philadelphia area. Previously he was Vice-President & Sr. Relationship Manager, CoBank, Farm Credit Leasing (March, 2009-November, 2011), Vice-President, Sovereign Bank, Equipment Finance & Leasing (February, 2005-February, 2009). Albright College B.S., Accounting, Activities and Societies: Football, Track, and Zeta Omega Epsilon social fraternity. Widener University M.B.A., Finance. http://www.linkedin.com/pub/eric-kraheck/10/359/8b9
Dan Kramer was hired as Executive Vice-President and General Manager, CoActiv Capital Partners, Horsham, Pennsylvania. Previously he was Senior Vice President and Chief Marketing Officer, ICON Capital Corp. (2007-November, 2011), Senior Vice President, National Sales Manager, GMAC Commercial Asset Finance (January, 2003-March, 2006), Senior Vice President, National Sales Manager, ORIX Financial Services (2002-2003), President, Kramer, Clark & Company ( January, 1990-February, 2001), Sales Manager, Diversified Asset Financial, Chrysler Capital (1985-1987), District Manager, GE Capital (1981-1983), District Manager, US Leasing (1978-1980). Rowan University BA, Finance http://www.linkedin.com/pub/dan-kramer/25/8b3/940
Dawn Mahoney, Esq. has been hired as Contracts Specialist at UTC Power, a United Technology Company. Previously she was Assistant General Counsel, Micro Financial, Inc (parent Company of TimePayment Corp.) (July, 2007-November, 2011) Massachusetts School of Law JD, Litigation, Corporate Law (2003 – 2006). Bridgewater State College Bachelor of Science, Political Science/International Relations (1996 – 2000). Activities and Societies: Student Exchange Program, Manchester Metropolitan University, Alsager Campus, UK
Dave Marano was hired as Sales Manager at Marlin Business Services. Previously he was Assistant Vice-President, CIT (April, 2008-November, 2011). Rutgers, The State University of New Jersey-Camden 1994
Tom Myers has joined Madison Capital, Owings Mills, Maryland, as vice-president of business development. "Prior to joining Madison Capital, he held the position of vice president, small business banking at Bank of America. Throughout his career, Myers has held sales and management positions at GE Capital, TCF Equipment Finance, FCC Equipment Financing and ORIX Credit Alliance."
Leasing News "The List" ---October
Puget Leasing, Bellevue, WA (10/11) An insider told Leasing News "First Sound Bank has effectively closed the Puget Sound Leasing operation and has dispensed with brokers. They are only booking direct deals generated by bank sales people." Website down, people let go. ((10/11) Puget Sound Leasing/First Sound Bank gets delay on $2.3M verdict, as they can't pay it, as well as attorney fees. (10/11) Jury ruled in favor of First Sound Bank once "on its breach of contract claims against Larasco, Inc., Louis Secord, and Richard Secord based on the Asset Purchase Agreement" rewarding damages of $1,244,751. However, they also ruled against the "breach of fiduciary duty" and "breach of contract claims" in favor of Larasco and the Secords, but they did rule in favor of Louis Secord breach of contract against First Sound Bank based on "employment agreement," awarding $2,077,767, and the same with Richard Secord, awarding $1,484,767
Triple Point Capital, Menlo Park, CA (10/11) "...provider of customized debt financing, leasing and direct equity investments to high growth venture capital-backed companies, announced today that it has closed on $1 billion of private capital funds."
Ascentium Capital, Kingwood, Texas (10/11) Len Baccaro company merges with Ascentium (he was Exec. VP sales with First Sierra prior to acquisition by American Express.)
Marlin Leasing, Mount Laurel, NJ (10/11) Officers Exercise a lot of Stock Options http://leasingnews.org/archives/Oct2011/10_19.htm#stock
Mesa Leasing, San Diego, CA (10/11) suspends general lease funding "...because its principle investor has suspended funding because of concerns about the economy."
Mark You Calendars for Lease Conferences Next Year
Leasing Association 2012 Conferences
National Equipment Finance Summit
April 26-28, 2012
AGLF/ELFA Public Sector Finance Forum
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