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

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Look at Life as if You
Were a Bus Driver

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Leasing/Finance/Business Training
to Learn the Industry and Help Place Their Deals

These companies train and instruct on the method, rules, and sales abilities to both find and close transactions. Several also serve in placing the transaction for the student, who will earn a commission. Many have gone into business and have become successful.

All means of learning financing include from business loans, equity loans and equipment and vehicle leasing, as well as finding your niche.

Many will continue with the training approach, learning and placing transactions, almost like a franchisee. Others will choose to become independent originators, often starting their own super broker company.

Commercial Capital Training Group

Commercial Finance Academy

Global Leasing

Wheeler Leasing School

Full List:
https://leasingnews.org/Conscious-Top%20Stories/School-Franchisors.htm

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New Hires/Promotions in the Leasing Business
and Related Industries

Jackie Boos was hired as Director of Sales, Channel, Minnetonka, Minnesota. She is located in the greater Minnesota area. Previously she was Capital Markets Sales Executive, Vice President (January, 2022); Capital Markets Sales, Account Manager, TCF Capital Solutions. She joined TCF Equipment Finance January, 2003, promoted Customers Service Representative, 2006, promoted Lead Funding Transacting Coordinator (2008 - 2019.
https://www.linkedin.com/in/jackie-boos-b296775/

Robert "Bob" Stark was hired as Chief Syndication Officer at Channel, Minnetonka, Minnesota. Previously, he was Senior vice President, Senior Managing Director, Capital Marks, Huntington National Bank (a January, 2021 - February, 2023). He joined TCF Bank September, 2001, SVP, Capital Markets and Portfolio Risk Management, promoted February, 2014, SVP, Managing Director, Capital Markets, Corporate Development (2014 - December, 2020). Full Bio:
https://www.linkedin.com/in/robert-stark-89692818/

Calvin "Cal" Navatto was hired as Master Connector and Problem Solver, eCapital, New York City, New York. Previously, he was Vice President, CIT/Commercial Services Group, First Citizens Bank (January, 2020 - November, 2023); Senior Vice President Capital Finance at Ump Bank June, 2015 - January, 2020); Senior Vice President, NewStar Credit (August, 2014 - March, 2016). Full Bio:
https://www.linkedin.com/in/calvin-navatto-0364675/details/experience/

Ananya (Das) Menon was promoted to Quality Control & Loan Processing Manager, Ready Capital, New York She is located in New Jersey. She joined the company June, 2017, Loan Closer, promoted June, 2019, Senior Loan Closer, promoted Senior Quality Control analyst, promoted February, 2022, Associate, promoted June, 2023, Quality Control and Loan Processing Manager. She was at
Eastern Fencing LLC, 5 years, 2 months. Full Bio:
https://www.linkedin.com/in/ananya-menon-75100513/details/experience

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Leasing and Finance Industry Help Wanted

Elevating Relationships
By Scott Wheeler, CLFP

Top originators in the commercial equipment finance and leasing industry are willing and capable of elevating relationships to a higher level to maximize their productions.

A seasoned originator has a long-term relationship (more than seven years) with a strong vendor. The relationship produces the greatest volume of any vendor relationship for his company. However, the relationship is casual. The originator knows a third of the vendor's sales reps. The originator meets with the vendor's owner a few times a year; and is invited to the vendor's annual conference and golf outing. By all metrics this is a strong relationship for the originator and his company. However, the relationship is 100% casual, and the finance company funds less than 25% of the vendor's total financing activity.

The suggestion was made that the originator take action to solidify the relationship, create a formal program for the vendor, and elevate the relationship to the next level. The originator was apprehensive. Why risk a good relationship? However, he scheduled a meeting for him, his manager, and owner of his independent company to meet with the executive team of the vendor. The meeting results included:

The knowledge that a competitor had also recently met with the vendor's executive team and the vendor was considering transferring more of their business to the competitor and away from the originator. The meeting reversed the potential of any business being transferred to a competitor.

A discussion of how the vendor and finance company could work together to mitigate perceived risk on future transactions. The vendor is willing to formalize a refurbishing and remarketing program. The vendor is willing to participate in a formal residual guarantee program to help the finance company create an FMV program for its equipment.
A discussion related to perceived processing challenges that the vendor had with the finance company. These challenges were easily resolved through a more robust portal which was available to the vendor but had not been utilized.
An agreement to create a formal relationship with the intent to increase business rather than decreasing activity with the independent finance company. The meeting and several follow-up discussions resulted in the finance company and vendor anticipating that the activity should double in 2024.

No relationship should ever be taken for granted. Relationships are either moving forward or have the potential of being lost to a competitor. The originator's lessons learned are that apprehensions or fear is not a strategy; meeting with decision makers and offering meaningful solutions and value creates new opportunities for every relationship

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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Commercial Finance/Leasing Finance Conferences
2024

March 5-7: Funder's Forum, Miami, Florida
https://leasingnews.org/Ads/Completed/brokers_expo112023.html

March 25–28: NEFA Finance Summit, Huntington Beach, CA
Agenda, Attendee List, Registration
Theresa Kabot, CLFP, Kabot Commercial Leasing LLC, will be
covering the Conference for Leasing News

April 16-18: AACFB Conference, Glendale, Arizona
https://annualconference.aacfb.org/home
Find Your Funder Here - Exhibitors List
https://leasingnews.org/archives/Feb2024/02_05.htm#aacfb
Vicki Shimus, CLFP, Balboa Capital, will be covering this event for
Leasing News

April 16-18: ELFA 35th Annual National Funding Conference, Chicago, IL
Funding Sources as of 02/06/2024 - Schedule -Hotel-Registration
Edward Kaye, Inspiration Mobility, will ve covering the ELFA
Fundng Conferencce for Leasing News

April 30-May 1: AGLF Conference, Austin, Texas

May 5–7: Equipment Finance Connect, Nashville, Tenn.
https://equipmentfinanceconnect.com

May 20: deBanked Broker Fair, New York City
https://brokerfair.org/register

Sept. 4-5: AACFB Commercial Financing Expo New Orleans, LA

Sept. 10-12: Auto Finance CEOs, San Antonio, Texas

Sept. 10-12, CFLA Conference, St. John's, NL, Canada

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida
https://www.nvla.org/page/2024conference
Sloan Schickler, Esq., Schickler & Schickler, wlll be
covering the conference for Leasing News. She is also
presenting there.

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX

Nov. 3- Nov. 5: NACLB Conference, Las Vegas, NV
https://naclb.getregistered.net/2024-conference-expo/agenda
Note: While this is open for registration, the company
and individuals are involved in a major law case
(In a email, President Kris Rogieri confirmed the conference has not been cancelled).

Nov. 11-14: NEFA Funding Symposium, Indianapolis, Indiana

To be listed, email: kitmenkin@leasingnews.org

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Leasing News Advisor
Jim Merrilees

Jim Merrilees, CLFP
Vice Chairman, The Alta Group
jmerrilees@thealtagroup.com
503-267-1110

Jim Merrilees is a vice chairman at The Alta Group who, in collaboration with the advisory’s Practice Leaders, advises on ways clients can enhance operational efficiency in their organizations and add value in equipment finance markets.

For over four decades Jim’s career has been highlighted by historic firsts in the industry. His previous experience includes senior positions at Channel Partners Capital, Quiktrak, Pacific Capital Bank, Colonial Pacific Leasing, Pitney Bowes and Textron Financial.

While at Colonial Pacific, he and his team introduced credit scoring automation with Fair Isaac Co. (FICO). Jim also helped launch the concept of adding insurance to lease contracts, a product offered by Great American Insurance Group today. His deep experience includes advising service providers looking to position themselves in the industry and assisting companies seeking to raise capital.

He served on the boards of two trade groups that merged to become the National Equipment Finance Association (NEFA), and he was an early contributor to the development of the CLFP program (Certified Lease & Finance Professional).

In 2022, he was honored by NEFA with a Lifetime Achievement Award in recognition of his significant contributions to the industry. Jim also is a former board member of the Equipment Leasing and Finance Association.

While much of his career centered on leading and developing business strategy for independents, he also worked for NationsCredit, which was a part of Bank of America.

He holds the designation of CLFP, a BS in finance from Miami University in Ohio and an MBA from Pepperdine University. He resides in Costa Mesa, CA, with his wife, Renee.

Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

New streaming releases include two of last year’s best films (“Fallen Leaves,” “Ferrari”), a pair of promising directorial debuts (“American Fiction,” “Fair Play”), and a powerful drama from a returning talent (“The Iron Claw”).

American Fiction (Amazon Prime, iTunes): Jeffrey Wright scored a Best Actor Oscar nomination for this timely satire on race and identity, adapted from Percival Everett’s acclaimed novel “Erasure.” Wright plays Thelonious “Monk” Ellison, a Los Angeles author and professor whose books get great reviews but can’t find an audience. Frustrated after being told that his work is not “Black enough,” he decides to pen a novel filled with pandering stereotypes under a pseudonym. When it becomes a bestseller, Monk must wrestle with moral responsibilities while also in need of money to take care of the ailing family matriarch (Leslie Uggams). First-time director Cord Jefferson retains much of Everett’s wry bite in his Oscar-nominated adaptation, with a strong cast that also includes Best Supporting Actor nominee Sterling K. Brown.

Fair Play (Netflix): The ruthless world of finances sets the stage for this crack dramatic thriller, which marks a promising feature debut for director Chloe Domont. Emily (Phoebe Dynevor) and Luke (Aiden Ehrenreich) are lovers as well as co-workers at the brutal One Crest Capital hedge fund, who see their relationship affected when she gets promoted instead of him. Made portfolio manager by company CEO Campbell (Eddie Marsan), Emily finds herself undercut by the subtly resentful Luke. As tension between the two rises, their secret engagement is sacrificed for the sake of personal gain and passion turns to fury. Making expert use of the narrative’s pressurized background, Domont gives the battle of the sexes a charged new spin, aided immensely by the steamy chemistry between Dynevor and Ehrenreich.

Fallen Leaves (Amazon Prime, Vudu): A bare-bones romantic poem from veteran Finnish director Aki Kaurismaki (“The Man Without a Past”), this comedy-drama is a burst of humanistic warmth that can break hearts without raising its voice. Taking place in Helsinki, the story gently observes the tentative romance that blooms between a couple of lonely, middle-aged workers, Ansa (Alma Poysti) and Holappa (Jussi Vatanen). After meeting at a karaoke bar, they struggle with a series of tragicomic hurdles to their happiness, ranging from alcoholism to lost phone numbers. Along the way, countless small but piercing details emerge and coalesce into a rich mosaic. One of last year’s very best films, this is a heartening vision that, as always with Kaurismaki, evinces deep reserves of passion behind its frigid deadpan. With subtitles.

Ferrari (Amazon Prime, Apple TV): For big commercial ventures that double as obsessively personal projects, there’s no beating this ripping drama from action master Michael Mann (“Miami Vice”). Charting three turbulent months in the life of Italian racer and businessman Enzo Ferrari (splendidly played by Adam Driver) in the 1950s, the story charts his preparation for the thousand-mile endurance race in the World Sports Car Championship. While worrying about the event, Ferrari also has troubles to sort out on the personal front, which includes his estranged wife, Laura (Penelope Cruz), and his younger mistress, Lina (Shailene Woodley). Both elegant and exhilarating, this is opulent, tingling cinema that uses the standard biopic format for a trenchant study in capitalism, the thin line between thrills and dangers, and the sheer pleasure of the camera’s style.

The Iron Claw (Amazon Prime, iTunes): Zac Efron gives a revelatory performance in this emotional drama, which also marks the welcome return of talented writer-director Sean Durkin (“Martha Marcy May Marlene”). Efron stars as real-life professional wrestler Kevin Von Reich, the oldest son of retired champ Fritz Von Reich (Holt McCallany) and eager to follow in his footsteps in the early 1980s. His brothers have their own dreams to chase in the competitive world of sports, while their mother, Doris (Maura Tierney), struggles to keep the family together. A string of setbacks and tragedies haunt the Von Reichs, threatening Kevin’s relationship with his wife, Pam (Lily James). Mixing visceral impact with melancholia, Durkin takes a powerful look at family bonds and athletic travails, finding the emotion behind the muscle.

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

News Briefs

Pharmacies nationwide face delays as
health-care tech company reports cyber attack
https://www.foxbusiness.com/retail/pharmacies-nationwide-face-delays-as-health-care-tech-company-reports-cyberattack

Stock market today: S&P, Dow hit record highs
as Nvidia ignites global stock rally
https://finance.yahoo.com/news/stock-market-today-sp-dow-hit-record-highs-as-nvidia-ignites-global-stock-rally-180038112.html

United Expands World's Largest Flight Training Center
with Huge, New Building/ 12 New Flight Simulators
https://www.prnewswire.com/news-releases/united-expands-worlds-largest-flight-training-center-with-huge-new-building-and-room-for-12-new-flight-simulators-302068034.html

After losing $2B in 2023, California-based
Rivian lays off hundreds of workers
https://www.sfgate.com/tech/article/rivian-layoff-unprofitable-irvine-cars-18682507.php

Leaked Files Show the Secret World
of China’s Hackers for Hire
https://www.nytimes.com/2024/02/22/business/china-leaked-files.html

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Half of College Grads Are Working Jobs That Don’t Use Their Degrees
https://www.wsj.com/lifestyle/careers/college-degree-jobs-unused-440b2abd?st=guu3849y1qjb723&reflink=desktopwebshare_permalink

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Sports Briefs---

MLB's Fanatics-produced pants blasted by players, union chief: 'The pants are see-through'
https://sports.yahoo.com/mlbs-fanatics-produced-pants-blasted-by-players-union-chief-the-pants-are-see-through-002616361.html

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California News Briefs---

Santa Clara tech campus lands leases,
offering hope for real estate market
https://www.mercurynews.com/2024/02/22/santa-clara-tech-south-bay-silicon-valley-economy-rent-buy-sell-office/

Abandoned S.F. site reimagined as
100% affordable homes for seniors
https://www.sfchronicle.com/realestate/article/s-f-housing-mission-seniors-18682350.php

Silicon Valley Venture
Are Breaking Up With China
https://www.nytimes.com/2024/02/21/technology/silicon-valley-vc-china.html

In ‘very serious trouble’: Chronicle poll shows
S.F. Mayor Breed’s reelection bid is in danger
https://www.sfchronicle.com/sf/article/mayor-london-breed-election-18678601.php

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Gimme that Wine

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

Wine of the week: Chelsea, 2021 Guidestone Rise,
Alexander Valley Merlot
https://www.pressdemocrat.com/article/lifestyle/wine-of-the-week-chelsea-2021-guidestone-rise-alexander-valley-merlot/

Oregon Wineries Lean into Business Challenges
facing many of the same challenges as California
https://www.winebusiness.com/news/article/283426

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