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Maybe We Have It Backwards
By Ken Lubin, ZRG Partners, Managing Director

From an early age, we’re taught to see success as a mountain to climb, a finish line to cross, or a scoreboard to dominate. The formula seems simple: set your sights on the prize, work harder than everyone else, and take your victory lap when you win. But what if we’ve misunderstood what winning in life really means? What if the things we chase — the goals, accolades, and titles — aren’t the point, but distractions from something deeper?

The Myth of "Getting There"

One of the biggest misconceptions we carry is the idea that success is a fixed destination. We imagine that once we achieve it, everything will click into place: happiness, fulfillment, meaning. But if you’ve ever hit a major milestone only to feel an unexpected emptiness, you know this isn’t true. Why? Because the satisfaction of "getting there" is fleeting.

The truth is, success isn’t static. It’s not a box you check or a trophy you hang on the shelf. It’s dynamic — something you experience in the process of becoming, not in the act of arriving. The moments we look back on with pride aren’t the finish lines but the struggles and growth that brought us closer to who we’re meant to be. We’ve been chasing the wrong thing, expecting the destination to deliver what only the journey can.

Chasing Control vs. Embracing Connection

In our quest to win, we often make life about control. Control over outcomes. Control over others. Control over ourselves. But the irony is, the harder we grip, the more we lose sight of what matters most: connection.

In sports, the most celebrated athletes aren’t just great because of their personal stats but because of how they elevate their team. They create an environment where everyone thrives, where the sum becomes greater than its parts. Life works the same way. Real success isn’t about dominating your field or conquering your competition; it’s about lifting others, building trust, and fostering a sense of belonging. We win not when we stand alone but when we stand together.

What if the ultimate measure of success isn’t what you achieve, but how deeply you connect with others? What if the legacy you leave is less about your individual accomplishments and more about the lives you’ve impacted?

Rethinking the Scoreboard

We’ve been trained to measure success by external markers — money, titles, accolades. But these metrics, while tangible, often fail to capture what truly matters. They don’t reflect your character, your integrity, or the quiet ways you’ve made the world better.

Think about it: what’s more meaningful, a trophy or the relationships you’ve built in pursuit of that win? A title or the wisdom you gained along the way? The truth is, the things that make life worth living often don’t show up on the scoreboard. They’re the conversations, the breakthroughs, the moments of courage when you chose what was right over what was easy.

Maybe we need to redefine winning entirely. Winning could mean waking up excited to tackle the day, regardless of external recognition. It could mean finding joy in the process, even when the results don’t go your way. It could mean knowing that your work and presence made someone else’s life better.

What Really Matters

Here’s the uncomfortable truth: the things we’re taught to chase often leave us hollow. The high-paying job, the big house, the recognition — they don’t fill the deeper need for purpose, growth, and connection. Winning in life isn’t about what you acquire but about how you show up. It’s about being present, giving your best, and staying aligned with your values. It’s about contributing to something bigger than yourself.

So maybe we do have it backwards. Maybe instead of focusing on external success, we should focus on internal fulfillment. Maybe instead of chasing the next win, we should learn to embrace the journey. And maybe instead of measuring life by what we take, we should measure it by what we give.

The real prize isn’t out there somewhere, waiting to be won. It’s already within us, waiting to be discovered. Winning isn’t about finishing first; it’s about living fully. And when we shift our perspective, we might just find that the success we’ve been chasing has been with us all along.

Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
klubin@zrgpartners.com
https://www.linkedin.com/in/klubin

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2025 Commercial Finance/Leasing Finance
Conferences and Forums

Sean Murray, Head of Broker Battle, deBanked

February 11-12. SFNet’s Asset-Based Capital Conference, Wynn, Las Vegas, Nevada.
Our Introduction to Asset Based Lending curriculum provides participants a broad overview of the ABL industry, touching all key fundamental aspects of all roles responsible for sourcing, underwriting and managing a profitable loan.
https://www.sfnet.com/

Feb. 20 DeBanked, Miami, DeBanked Connect, Fountainbleau, Miami Beach, Florida
Broker Battle Returns: Are You the Top Broker?
https://debanked.com/2024/11/are-you-the-top-broker/

February 23-25 ELFA Equipment Management Conference and Exhibition, JW Marriott, Las Vegas, Nevada
https://tradeshowz.com/event/2925#google_vignette

March 4-March 6 Funders Forum & Broker Expo, Hollywood, Florida
https://thefundersforumbrokerexpo.com/fl/

March 11-13 National Equipment Finance Association Spring Conference, Oni, La Costa Resort & Spa, Carlsbad, California.
https://www.nefassociation.org/event/2025-spring-conference/

April 9–10 NVLA Conference
Clearwater Beach, Florida
https://www.linkedin.com/posts/national-vehicle-leasing-association_national-vehicle-leasing-association-nvla-activity-7266910489354346497-lqCv/

April 9-April 11 AACFB Annual Conference,
Las Vegas, Nevada

April 15-17 ELFA National Funding Conference
Chicago, Illinois
https://www.elfaonline.org/education-networking/national-funding-conference

October 14-16 National Equipment Finance Association Fall Conference, Renaissance Minneapolis Hotel, Minneapolis, Minnesota
https://www.nefassociation.org/event/2025-fall-conference/

October 26-28 ELFA 64th Annual Convention
Marco Island, Florida
https://cvdata.elfaonline.org/cvweb/cgi-bin/eventsdll.dll/EventInfo?SESSIONALTCD=CONV2025

To be listed or update: kitmenkin@leasingnews.org

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November 26 to December 6
Top Ten Most Read

(1) Ron Mitchell Passed Away
Widely Known in the Industry
https://leasingnews.org/archives/Dec2024/12_06.htm#ron

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Nov2024/11_26.htm#hires

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Dec2024/12_02.htm#hires

(4) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Dec2024/12_04.htm#hires

(5) Section 179 and the Game-Changing
Tax Benefits for Businesses
By Shervin Rashti, CLFP
https://leasingnews.org/archives/Nov2024/11_26.htm#179

(6) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Dec2024/12_06.htm#hires

(7) Kansas Commercial Loan Disclosures
By Ken Greene, Leasing News Emeritus
https://leasingnews.org/archives/Dec2024/12_06.htm#ka

(8) Originators’ Compensation Survey 2024
By Scott Wheeler, CLFP
https://leasingnews.org/archives/Nov2024/11_26.htm#survey

(9)) California 2025 Renewal
Program for Broker-Dealers
Other States too
https://leasingnews.org/archives/Dec2024/12_02.htm#time

(10) Observations going into 2025
Scott Wheeler, CLFP,
Wheeler Business Consulting
https://leasingnews.org/archives/Dec2024/12_04.htm#ob

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Mapped: The Gas Price
in Every U.S. State

Average gas prices in the U.S. may drop below $3 per gallon this winter, marking the first time this has happened since May 2021.

This map illustrates the price of regular unleaded gasoline per gallon in each state, based on data from the American Automobile Association (AAA) as of November 2024.

Gas Prices Below Average in Most States

As of November 18, 2024, the national average price for regular unleaded gas was $3.071 per gallon, according to AAA.

Gas prices are below the national average in 33 states.
Oklahoma has the cheapest gas at $2.57 per gallon.
Hawaii is the most expensive state, with prices at $4.57 per gallon.

Will Gas Prices Go Down?

Oil prices have been volatile following the U.S. presidential elections, driven by concerns about China’s weak economy and the potential for increased tariffs under the incoming Trump administration, which could dampen demand. Oil prices have dropped roughly 10% over the past month.

Another factor is that gas stations are now selling winter-blend gasoline. These blends tend to be cheaper than the summer-grade version, as refineries replace alkylates with butane, a cheaper additive.

According to Yahoo Finance, Wall Street analysts widely project a decrease in oil prices in 2025, which could help lower gasoline prices further.

(Source: Visual Capitalist)

Gas Buddy Top 10 Gas Stations & Cheap
Fuel Prices in California – Regular
https://www.gasbuddy.com/gasprices/california

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Nationwide Injunction Creates Uncertainty
Regarding Corporate Transparency Act
by Jonathan J. O’Brien Hoge Fenton

Current Developments

On December 3, 2024, the U.S. District Court for the Eastern District of Texas, in Texas Top Cop Shop, Inc. v. Garland et al. E.D Texas, No. 4:24-cv-00478, issued a nationwide preliminary injunction, temporarily halting the government’s enforcement of the Corporate Transparency Act (CTA), including the reporting requirements under the Beneficial Ownership Information (BOI) Reporting Rule that is a part of the CTA. The Court found that the reporting provisions under the CTA likely exceed Congress’s constitutional authority, rendering them unconstitutional.

As a result of the preliminary injunction, the CTA’s BOI reporting obligations are temporarily unenforceable, and Reporting Companies (as defined under the CTA (see Overview of the CTA below)) are not required to comply with the CTA’s January 1, 2025, reporting deadline. Notably, the Court did not issue a definitive ruling declaring the CTA unlawful or unconstitutional. Instead, the preliminary injunction only serves to temporarily suspend enforcement of the CTA.

"In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports."

While the Court’s order temporarily halts compliance with the CTA, the government retains the option to appeal the decision to the U.S. Court of Appeals for the Fifth Circuit and to request a stay of the preliminary injunction during the appeal process. The government may also seek an expedited appeal and stay process to immediately address the District Court’s order. Enforcement could resume if the Court’s decision is overturned on appeal or if the preliminary injunction is lifted. However, the timing of either event remains uncertain.

The preliminary injunction represents a significant development, with far-reaching implications for Reporting Companies across the nation. Both (a) Reporting Companies that have not yet submitted their BOI Reports, and (b) entities formed after the date of issuance of the Order, are now faced with a decision to either continue with compliance on the expectation that the injunction will not remain in place, or suspend compliance pending final resolution of the matter.

What Should I Do?

If the preliminary injunction is stayed or reversed, it is not clear whether the deadline for filing BOI Reports will be extended. Therefore, taking a “wait and see” approach could leave Reporting Companies that have not yet filed, and newly formed entities that elect to forestall filing, in the difficult position of complying within a very short period of time. Therefore, it would be prudent for Reporting Companies that have not yet filed their Initial BOI Report to continue to assemble the required information and to be prepared to file on short notice.

However, if the CTA is permanently enjoined, reporting entities who have not already complied may not have to provide the information required under the CTA. Owners of Reporting Companies may wish to avoid providing the necessary filing information until required to do so.

Hoge Fenton is here to help assess how this development may impact your business’s reporting obligations. We will continue to closely track any changes and future updates related to the CTA.

Overview of the CTA

Congress enacted the CTA on January 1, 2021, with enforcement delegated to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Aimed at combating illicit financial activities, the CTA mandates that a broad range of companies operating in the U.S. disclose detailed information about individuals who hold ownership interests in or exercise significant control over them. FinCEN estimates that the reporting requirements under the CTA will affect approximately 32.6 million existing entities.

Under the CTA, certain entities established or registered to do business in the U.S. before January 1, 2024, must submit an Initial BOI Report by January 1, 2025. For entities formed between January 1, 2024, and December 31, 2024, the Initial BOI Report must be filed within 90 days of formation. Starting January 1, 2024, all newly formed entities are required to file a BOI Report within 30 days of their formation. These reporting requirements are now suspended pending the outcome of any government appeals or further federal court action.

News Briefs

Wizard of Oz’ Ruby Slippers Sell at Auction
for a Record $28 Million
https://www.nytimes.com/2024/12/07/us/wizard-oz-garland-ruby-slippers-auction.html

China has just cost the USA $34,000,000,000
every decade after rare mineral decision taken
https://www.unilad.com/technology/news/china-usa-rare-mineral-ban-gallium-germanium-explained-460039-20241205

DC Circuit rejects TikTok’s First Amendment defense,
opening door for January ban
https://www.courthousenews.com/dc-circuit-rejects-tiktoks-first-amendment-defense-opening-door-for-january-ban/

Ad Revenue Predicted to Top $1 Trillion This
Year for the First Time
https://www.wsj.com/articles/ad-revenue-predicted-to-top-1-trillion-this-year-for-the-first-time-2c9215a5?mod=business_lead_story

Why Jeff Bezos Likes ‘Messy’ Meetings
at the DealBook Summit
https://www.nytimes.com/2024/12/07/business/dealbook/jeff-bezos-amazon-meetings.html

More Americans are living in malls, as developers
get creative to help ease the housing crisis
https://www.cnbc.com/2024/12/05/why-developers-are-building-housing-at-shopping-malls.html?utm_campaign=trueanthem&utm_medium=social&utm_source=linkedin|main

Google says its new AI model outperforms
the top weather forecast system
https://techcrunch.com/2024/12/07/google-says-its-new-ai-model-outperforms-the-top-weather-forecast-system

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The Intersection of AI and Leadership: Takeaways
from the ELFA Innovation Roundtable
https://www.elfaonline.org/news-and-publications/industry-news/read/2024/12/07/the-intersection-of-ai-and-leadership--takeaways-from-the-elfa--innovation-roundtable

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Sports Briefs---

Luis Severino and Athletics agree to $67 million,
3-year contract, AP sources say
https://www.pressdemocrat.com/article/trending/luis-severino-and-athletics-agree-to-67-million-3-year-contract-ap-sourc/

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California News Briefs---

Everything to know about new-construction,
single-family homes in Sonoma County
https://www.pressdemocrat.com/article/news/sonoma-county-new-construction-home-deals/

Legendary movie star selling his ocean view
cottage in Tiburon for $4.2M
https://www.sfgate.com/realestate/article/legendary-movie-star-lists-tiburon-cottage-19956526.php

Many plastics in Bay Area blue bins end up
in landfills. Here’s what is actually recycled
https://www.sfchronicle.com/climate/article/plastic-recycling-19786872.php

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Gimme that Wine

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

Wine industry continues to adapt to oversupply,
changing consumer taste
https://www.pressdemocrat.com/article/industrynews/napa-sonoma-wine-expo-oversupply/

California vintner power couple buy
historic Napa wine brand
https://www.sfchronicle.com/food/wine/article/flora-springs-gallo-boisset-19964235.php

A new clone of Chilean Cabernet Sauvignon
140+ year-old could re-start the genetics of
the wine industry
https://www.winebusiness.com/news/article/295971

Niagara Icewine Festival Returns with Three
Weekends of Winter Fun This January
https://www.winebusiness.com/news/article/295935

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