Leasing News - information, news, education and entertainment for the commercial bank, finance and leasing industry

######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

Michael Adam Jung, CLFP
December 9, 1990 - February 3, 2024

Craig Colling CLFP, Senior Finance President, Vendor Channel Leader, Ascentium Capital, emailed Leasing News that his good friend in Scottsdale, Arizona passed away. He wrote:

"I fondly remember he had to help many of his colleagues (including me) program our HP calculators the day before we took the CLFP exam, to have a fighting chance to pass the pricing section. Mike saved the day.

"After Mike left the equipment finance industry a few years back, we stayed in touch and his sense of humor and adventurous spirit are very memorable.

"I will miss him."

Michael Jung Obituary

Obituary published on Legacy.com by Hansen Desert Hills Mortuary and Cemetery - Scottsdale on Feb. 7, 2024.

Michael Adam Jung passed away on February 3, 2024 in Sedona, AZ. Michael ("Mike" or "Mich") was born December 9, 1990, the fourth child of Patricia and Thomas Jung. Raised in Naperville, IL, Michael attended Clow Elementary, Gregory Middle School, Neuqua Valley High, and Illinois State University. He later lived in San Diego, CA before settling in Scottsdale, AZ.

Michael was a successful entrepreneur and adventurer, a man of infinite ideas and creative endeavors who was deeply loved by his family and many friends. He will be remembered for his intelligence, humor, generosity, tenacity, charisma, and his ability to endlessly surprise us.

Michael is survived by his parents Patricia and Thomas, brothers Thomas (Worraya) and Steven, sister Melissa (Robert), nieces Eleanor, Elisa, and Aveline, and nephew Everett.

In lieu of flowers, donations can be made to the Maricopa County Animal Shelter, where Michael adopted his beloved dog, Toshi.
https://www.maricopa.gov/5268/Animal-Care-and-Control

Full Obituary:
https://www.legacy.com/us/obituaries/name/michael-jung-obituary

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Top Originators Are More than Salespeople -
They are Business Advisors!
By Scott Wheeler, CLFP

Top originators in the commercial equipment finance and leasing industry are more than salespeople. They are advisors. They are fully engaged in the market. They track their position in the market. They follow economic trends which will affect their clients, the industries they serve, and the long-term security of their companies.

Top originators can have a meaningful conversation with owners and CFOs about the economics of a transaction.

Top originators understand how different structures affect cash flow and are able to suggest options based upon the client's long-term financial goals. Being a financial advisor in the commercial equipment finance and leasing industry requires:

Professionals who understand financial statement analysis
Professionals who are willing to ask tough questions
Professionals who understand that risk and reward must align
Professionals who are willing to articulate the pros and cons of different structures available in the market
Professionals who understand and can articulate the concept of time-value of money
Professionals who understand that not every product fits every situation
Professionals who are equipment experts
Professionals who embrace competition, because competition encourages top originators to be their best
Professionals who understand that value wins over price
Professionals who can think and act outside of the box because they are confident in the value they offer.

In 2024, end-users and vendors are demanding more from their financial partners. They are rewarding originators who are can offer meaningful advice.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

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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Leasing and Finance Industry Help Wanted

Exciting Senior-Level Opportunities Await!
Elevate Your Career in 2024
By Ken Lubin, ZRG Partners, Managing Director

As we step into 2024, it's clear that the year ahead is full of promise and potential, especially for those looking to elevate their careers to new heights. We're thrilled to bring to your attention a range of senior-level opportunities within dynamic sectors, each designed for visionary leaders eager to make a significant impact, drive growth, and champion innovation.

If you're looking to step into a role that challenges, rewards, and offers the chance to lead with creativity and strategic insight, we invite you to explore the following positions. Email me at klubin@zrgpartners.com

COO (Operations) - Northeast: Spearhead operational strategy and excellence as the #2 to the President in an independent lessor. This role is tailor-made for leaders passionate about developing high-performing teams, driving operational efficiency, and ensuring compliance and risk management across all business facets.

SVP-EVP of Sales: A leading specialty finance company is on the lookout for a sales leader to revolutionize their business. This role demands a creative, process-oriented leader with a strong leadership track record, ready to align sales objectives with business strategies, and drive significant market share and financial performance.

CFO - Philadelphia: This pivotal role in a Private Equity-owned healthcare consulting firm offers the chance to lead financial strategies and management, contributing significantly to the company's successful exit strategy. Ideal for a finance leader with deep PE experience, ready to ensure strategic financial management and foster transparent, efficient communication with board members and PE partners.

Head of Sales-Vendor Finance - Midwest: Join a global equipment finance company aiming to transform their vendor and dealer finance business. Your experience in construction and hard assets will be invaluable in managing sales strategies, achieving business targets, and ensuring excellence in service delivery.

Head of Factoring Business: A unique opportunity for a business leader to build a factoring/ABL business from scratch within a prominent PE/Hedge Fund. This role is a chance to bring your vision and expertise to a new venture, capitalize on market opportunities, and establish a lasting legacy.

CFO - Atlanta: A specialty lending company seeks a CFO to oversee its holding company, encompassing various specialty finance subsidiaries, including working capital, equipment leasing, merchant cash advance, and more. This role is perfect for a finance leader with a strategic mindset, capable of managing diverse financial strategies across multiple business lines, ensuring financial integrity, and driving growth and profitability within a complex organizational structure.

These opportunities are more than roles. They're a chance to make a mark in your industry, lead outstanding teams, and achieve exceptional success. If you're ready for a career-defining move and to make 2024 a year to remember, we'd love to discuss these positions with you further. Please feel free to reach out with any questions or to express your interest. Email me at klubin@zrgpartners.com

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

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Reid Raykovich, CLFP, CAE
Leasing News Advisor

Reid Raykovich, CLFP, CAE
Chief Executive Officer
Certified Lease & Finance Professional Foundation
(206) 535-6281
P.O. Box 146, Northbrook, IL 60065
reid@CLFPFoundation.org
www.CLFPFoundation.org

Reid Raykovich, CLFP, CAE is the CEO at the Certified Lease & Finance Professional Foundation. Reid took over the Foundation in 2012 and has grown the membership by over 900%. In 2014, she was honored with the Foundation’s Cindy Spurdle Award of Excellence.

Reid began her career in the commercial equipment finance industry at Great American Insurance where she obtained her CLFP designation. She has also held various positions at Common Leasing, Irwin Commercial Finance and Financial Pacific Leasing where she was presented the “Above and Beyond Leadership” Award. She was also given the Leasing News Person of the Year Award in 2016, was named as one of the top 50 most powerful and influential women in the industry by Monitor magazine in 2019, and also named as the 2020 Pioneer Icon by Monitor.

Reid has authored and co-authored several articles regarding certification and continuing education and has spoken on various panels and presented at many industry conference sessions. In 2018, she traveled to Australia and spoke in three cities regarding the certification.

She has a Bachelor of Arts in Psychology, with minors in Classics and Business from the University of Washington where she graduated magna cum laude in two and a half years. She also obtained her Certified Association Executive designation in June 2023.

In her spare time, she loves crafting and making gifts for others. She has a daughter Milla and a loving cat Toonces who keep her on her toes.

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Black Equipment Finance Network Announces
Awards First Two Scholarships for CLFP Program

The Black Equipment Finance Network (BEFN), a national networking organization comprising equipment finance professionals, has proudly announced the awarding of its inaugural scholarships to two students from Historically Black Colleges and Universities (HBCUs). These scholarships mark a significant step in BEFN's mission to enhance the participation of black professionals in the equipment finance industry and to provide networking opportunities for those already working in the sector.

Reid Raykovich, CLFP, CAE, CEO of the CLFP Foundation, "The support from the Black Equipment Finance Network is immensely appreciated. Their involvement sends a powerful message to HBCU students and others, highlighting the commitment of many in the equipment finance industry to build a more robust sector. This is achieved by attracting diverse talent and raising awareness about the various opportunities available within our industry."

The program offers a comprehensive introduction to the equipment finance industry, including guest speakers, networking opportunities with industry professionals, CLFP training, the chance to take the CLFP exam, and potentially, the opportunity to secure an internship and/or a full-time position with a participating company in the industry.

Tanisha Gordon - Flowers, Senior Manager at Cisco, remarked, " We look forward to collaborating more with the CLFP Foundation and BEFN to help create opportunities for HBCU students interested in equipment finance."

This scholarship program, covering the costs of study materials, test preparation classes, and the CLFP (Certified Lease & Finance Professionals) Certification Exam, is part of a collaborative effort between the CLFP Foundation and Cisco Capital. It aims to provide specialized CLFP training and certification opportunities to HBCU students studying business and finance who have an interest in the equipment finance sector.

George Parker, President of BEFN, expressed his enthusiasm, stating, “BEFN plans to extend this initiative, with additional scholarships set to be offered in 2024. Our industry, now exceeding $1 trillion, frequently goes unnoticed by students mapping out their career paths, especially those from HBCUs and other students of color.

“The program initiated by CLFP and Cisco Capital is already creating significant impacts. We look forward to collaborating more with the CLFP Foundation and Cisco Capital to help create opportunities for students interested in equipment finance."

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The Definitive Guide to Crafting an Engaging Press Release
PR Newswire

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

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Understanding Financial Statements Free Webinar
Wednesday, February 28, 2024, 2:00pm

Wednesday, February 28, 2024, at 2:00 p.m. (ET) as commercial finance experts delve into the art of financial statement analysis.

Understanding financial statements is a crucial skill for commercial finance brokers to master. The ability to read and interpret them allows brokers to assess the financial health of a business. Brokers can use key indicators to gauge the level of risk associated with a client and tailor the financial solutions to their unique needs. Informed brokers can overcome objections and increase the likelihood of securing favorable financing terms for their clients.

Don't miss this session with veteran brokers, Mohammed Ahsan and Barbara Griffith, as they guide attendees through the process of how to use financial statements when packaging a commercial transaction

Register for Free Today!
https://us02web.zoom.us/webinar/register/WN_6x5fnN9eTZ2HpZz_OuULfQ

Meet the Presenters

Barbara Griffith founded SCL Equipment Finance in 1992. The company works as a brokerage specializing in transactions with companies within targeted industries. Recognizing the significance of belonging to professional associations, she has consistently emphasized the importance of such affiliations. Additionally, Barbara is well-versed in the principles of good business practices and has grown the company with her dedicated staff

Mohammed Ahsan started his equipment leasing career in 1980 with Westinghouse Credit. Over the years he has worked with Atlantic Savings, Mitsubishi Bank, Bank of California, Datronic, and First Sierra Financial.

In 1999, he co-founded Quail Capital in Burbank, CA and later established Quail Credit in 2007. He has been in the equipment leasing industry over 44 years and primarily focuses on the mid-ticket commercial space.

News Briefs

Flight attendants are holding airport rallies
to protest the lack of new contracts and pay raises
https://www.pressdemocrat.com/article/business/flight-attendants-are-holding-airport-rallies-to-protest-the-lack-of-new-co/

Where do all those Amazon EV delivery vans recharge?
The e-commerce giant is far in the lead
https://www.bostonglobe.com/2024/02/13/business/amazon-evs-bellingham-rivian/

Inflation Tracker: At 3.1%, See the Items Keeping Prices High
services and household items remain stubbornly expensive
https://www.wsj.com/personal-finance/inflation-tracker-cpi-data-prices-11657717467?st=cmlfe0oojods16z&reflink=desktopwebshare_permalink

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Nearly Half of American Adults Are Unmarried
It Turns Out, That’s Good for Valentine’s Day
https://www.wsj.com/business/retail/valentines-day-self-gift-retail-single-fb6ec97b

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Sports Briefs---

The clock is ticking on Kyle Shanahan
and John Lynch, and they know it
https://www.eastbaytimes.com/2024/02/13/kurtenbach-the-clock-is-ticking-on-kyle-shanahan-and-john-lynch-and-they-know-it/

Kyle Shanahan bristles at notion his 49ers can’t win
big games following another Super Bowl loss
https://www.pressdemocrat.com/article/sports/kyle-shanahan-bristles-at-notion-his-49ers-cant-win-big-games-following-an/

‘He’s on fire’: Steph Curry’s historic heater
fuels Warriors’ climb up standings
https://www.sfchronicle.com/sports/warriors/article/steph-curry-s-historic-heater-fuels-warriors-18664684.php

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California News Briefs---

Big Santana Row office building in San Jose
may soon be half-leased
https://www.eastbaytimes.com/2024/02/13/san-jose-real-estate-santana-row-office-rent-economy-tech-home-store/

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Gimme that Wine

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

Woman named Sonoma County’s Vineyard Employee
of the Year for first time
https://www.pressdemocrat.com/article/lifestyle/woman-named-sonoma-countys-vineyard-employee-of-the-year-for-1st-time/

Duckhorn Portfolio slides after Bank of America
warns on premium wine slowdown
https://seekingalpha.com/news/4065950-duckhorn-portfolio-slides-after-bank-of-america-warns-on-premium-wine-slowdown

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