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New Hires
Sorry No Postings. Why?

The last few months have seen press releases and LinkedIn postings from employees, many with much older starting dates, some up to six months ago or longer. Leasing News has also caught several we published where the employee was actually hired or promoted months prior.

The LinkedIn bios typically show actual starting dates. Leasing News contacts new hires and almost all confirm the starting date is correct.

Leasing News has asked several presidents and public relations companies if they are aware of the misleading information contained in a press release. Our advice is to change the title to Senior Vice President for example.

If we are not able to verify the new hire/promotion, we do not publish the information." Even if other media publishes it.

-- Editor

 

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ELFA Reports: December New Business
Volume Up 2% Year-over-year
2023 Cumulative Volume up 3.9% compared to 2022

(Chart: Leasing News)

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index reports overall new business volume for December was $12.5 billion, up 2% from new business volume in December 2022. Volume was up 51% from $8.3 billion in November in a typical end-of-quarter, end-of-year spike. Cumulative new business volume for 2023 was up 3.9% compared to 2022.

 

ELFA President and CEO Leigh Lytle said, “The MLFI closes out 2023 with a strong finish despite ongoing concerns of a recession and the higher interest rate environment throughout the year. Positive year-end new business volume shows that U.S. businesses continue to rely on equipment financing to operate and grow.

“Delinquencies and losses, while historically elevated, have remained within consistent ranges since last summer. These metrics, combined with improved industry confidence, bode well for an optimistic start to 2024."

 

 

 

Full Press Release:
https://www.elfaonline.org/knowledge-hub/monthly-leasing-and-finance-index/view-mlfi/monthly-leasing-and-finance-index-december-2023

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Bankers Capital Updated in Story Credit Financing
Business Loans, SBA Loans, Working Capital

Bankers Capital
1990
James Aiksnoras - President
508-351-6000
Jamesa@bankers-capital.com
www.bankers-capital.com
AACFB (GG)

Balboa Capital Corp. Bankers Capital Black Rock Capital Investment, LLC BSB Leasing, Inc Calfund, LLC Dakota Financial

Financial Pacific Leasing Forum Financial Services, Inc. Gonor Funding Maxim Commercial Capital, LLC North Mill Equipment Finance

Pawnee Leasing Corporation P&L Capital Corporation Quality Leasing Co. Inc. SLIM Capital, LLC TEAM Funding Solutions

Alphabetical list - click on company name to view more details 

 

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Leasing and Finance Industry Help Wanted

 

You Are Not Cancelled
By Ken Lubin, ZRG Partners, Managing Director

 

      Things that aren't cancelled:

• Believing in Yourself
• Kindness
• Hard work
• Passion
• Surviving
• Moving

It is easy to put work, fitness, kindness and belief in yourself on the back burner during these times.  As humans we weren’t designed to sit still, we were designed to make a difference and survive.  Make a difference in your work, your family, and your health.  There is a new norm and make sure you raise the bar.  Just be 1% better today than you were yesterday.

Good luck, stay safe

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

 
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Defying Inflation, Americans
Have Kept Spending Money
By Felix Richter, Statista

U.S. retail sales grew more than expected in December, rounding off a surprisingly strong year in terms of consumer spending, as Americans continued to spend money in defiance of inflation and high interest rates. According to advance estimates from the U.S. Census Bureau, total retail and food services sales - including spending at stores, online and in restaurants - amounted to $709.9 billion in December, up 0.6 percent from the previous month and 6 percent compared to December 2022.

Considering that consumer prices grew by 3.4 percent in December, retail sales outpaced inflation last month, meaning that consumers actually spend more than 12 months earlier, even adjusted for inflation. When measured in constant 1982-1984 dollars, retail sales increased 2.2 percent year-over-year in December, marking the highest increase since February 2022.

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Leasing News Advisor
Ed Castagna

Edward Castagna, CEO
InPlace Auction
68 South Service Road, Suite 100
Melville, New York 11747
Tel.  (516) 229-1968
Cell (516) 297-7775
Fax.  (516) 882-7924
ecastagna@inplaceauction.com
www.inplaceauction.com

Edward Castagna, ASA, is one of Leasing Asset Management’s pioneers in valuation and liquidation. Over four decades, his asset recovery and remarketing expertise has evolved with the latest technology. His current appraisal, recovery, and liquidation process employs “real” intelligence now enhanced by “artificial “intelligence.

Ed has been a member of the Leasing News Advisory Board for more than 16 years and he has spent his entire 30-plus-year career at the forefront of new developments in asset management.

A Traditional Early Route 
Ed learned about the industry by listening to his father, an equipment lessor in the late 1970s. He helped his dad liquidate portfolio assets.

He worked closely with used equipment dealers and mechanics who showed him what to look for when evaluating machinery and equipment for resale.

Over the years, through hard work and continuing education, Ed earned his ASA Appraisal designation for (MTS) Machinery & Technical Specialties and his CEA Appraisal designation for machine tools and metalworking assets. He is an expert witness in courtroom defense of challenged value and commercially reasonable sales with a high success rate.

Ed has maintained an attitude of service and professionalism that is well-received by both the lender/lessor and the borrower/lessee.

His thorough experience helps him navigate face-to-face contact with borrowers and lessees before, during, and after lease liquidations. 

Embracing Technology 

“My goal is to market client assets powerfully and effectively at a low cost.” 

Ed’s platform continues to evolve and innovate using the latest technology.

He was the first in the industry to create a high-volume automated marketing system for repossessed and soon-to-be liquidated assets.

“Don’t laugh, but I started with fax technology. I custom-built a “fax blaster” that delivered 24,000 daily bid sheets to a curated audience based on a potential buyer’s SIC code. I would target that SIC code by zip, state, or nationwide. It was extremely successful.”

“I continue my targeted, asset advertising strategy today using greatly improved technology.”

Targeted social media posts, specialized trade publications, blast email, website SEO, and more have replaced the old fax machine.

In 2011, he launched InPLaceAuction, a full-service ASA appraisal, recovery, and auction company that assists financial institutions with all aspects of asset management, from appraisals to recovery, liquidations, and auctions.

Industry Associations, Personal News & Charities

Edward is an active member of the following associations: Turnaround Management Association (TMA.org), National Auctioneers Association (NAA), Equipment Leasing and Finance Association (ELFA), National Association of Government Guaranteed Lenders (NAGGL), Machinery Dealers National Association (MDNA), American Society of Appraisers (ASA) and Association of Machinery and Equipment Appraisers (AMEA).

He earned a B.A. from Syracuse University and graduated from the Mendenhall School of Auctioneering. Ed served on the Equipment Leasing and Finance Association (ELFA) Board of Directors from 2006-2009, representing its service provider members.

He is one of the founding members and President of the Tender Loving Care Foundation (www.tenderlc.com), which provides parent counseling and critical care equipment to the NICU’s of the Northwell Health System. His favorite place to be is anywhere with his wife, Jeanine, and their two boys.

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

ELFA Launches “DiversiTEA Talks” Webinar Series
Focused on Diversity, Equity and Inclusion.

Washington, D.C. – The Equipment Leasing and Finance Association today announced the launch of a new series of webinars focused on diversity, equity and inclusion. The series, “DiversiTEA Talks: Brewing Inclusion at ELFA,” will explore essential topics to foster an industry and workplace culture that values inclusion. Registration is open
to all.

The first webinar will take place Feb. 14 and will focus on “Empowering Tomorrow, Black History Month and the Future of Inclusion in Equipment Finance.”

Eboni Preston-Laurent, ELFA Director of Diversity, Equity and Inclusion, said,  “We are excited to provide a new forum for equipment finance professionals to come together to explore, discuss and champion diversity, equity and inclusion,” said. “Embracing diversity is essential to ensuring our industry remains relevant in an ever-evolving landscape. We encourage all members to keep an eye on the ELFA calendar through 2024, as we announce new events in the series.”

During the first webinar on Feb. 14 event, expert panelists from the Black Equipment Finance Network will reflect on the significant contributions of black leaders in the equipment finance sector, the impact of these leaders on the industry’s evolution, and the crucial role that diversity and inclusion will play in shaping the future of equipment finance. Panelists will also share the importance of diversity in fostering innovation and creativity, while also exploring strategies and initiatives for promoting inclusivity, equality and representation in the workplace.  There is no cost to participate and registration is now open at https://register.gotowebinar.com/register/4920803154179971163.

About the Series
The “DiversiTEA Talks: Brewing Inclusion at ELFA” series will bring together thought leaders, experts, ELFA committee members and practitioners to share insights, strategies and best practices for creating inclusive environments. Each webinar will feature an engaging topic followed by a Q&A session, providing participants with the opportunity to interact with the speakers and delve deeper into the discussed topics. Following the Feb. 14 event, future events will be posted on the ELFA event throughout the year at www.elfaonline.org/calendar.

Registration: Open to All
https://register.gotowebinar.com/register/4920803154179971163

Who Should Attend
All members of the equipment finance industry are invited to participate. From HR professionals to managers to other employees eager to contribute to a more inclusive workplace, this educational series of webinars is designed to empower attendees with the knowledge and tools needed to make a positive impact.

About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA has been equipping business for success for more than 60 years.  For more information, please visit www.elfaonline.org.

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

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

Check out our list for the latest streaming releases, which include witty animation (“Chicken Run: Dawn of the Nugget”), twisty suspense (“Eileen”), flavorful drama (“Fast Charlie”), sumptuous sweep (“Napoleon”), and breathless action (“Silent Night”).

Chicken Run: Dawn of the Nugget (Netflix): More than two decades since its release, Aardman studio serves up a sequel to their animated hit, catching up with the same characters after their daring escape from Mrs. Tweedy’s farm. Living now in an isolated idyll, Rocky the rooster (voiced by Zachary Levi) and Ginger the chicken (Thandie Newton) raise their daughter, Molly (Bella Ramsey), far from the perils of the outside world. When the curious Molly ventures to the mainland, she ends up in an amusement park gradually revealed to be a fast-food factory. It’s up to Rocky and Ginger to get the old team back on a rollicking rescue mission. Brimming with Jerry-rigged contraptions, narrow escapes, and sly British humor, the film proves to be even more fun than its predecessor.

Eileen (Amazon Prime): Anne Hathaway and Thomasin Mackenzie shine in this stylish psychological thriller from British director William Oldroyd (“Lady Macbeth”). Eileen Dunlop (Mackenzie) works at a prison for teenage boys in 1960s Massachusetts, and daydreams about doing away with the alcoholic father (Shea Wigham) she lives with. Into her life steps Rebecca (Hathaway), a new psychiatrist with a Harvard degree and an air of mysterious, glamourous confidence. The connection between these two very different women grows stronger and more seductive, and their relationship appears headed toward romance. When Rebecca invites Eileen to her house, however, an unexpected twist throws things into a dangerous new light. Unfolding at a fleet pace, the film owes its fascination in no small amount to the sparkling chemistry between its bold leading ladies.

Fast Charlie (Amazon Prime, Vudu): A predictable storyline is elevated by solid direction and a game cast in this enjoyable crime yarn from veteran Australian filmmaker Phillip Noyce (“Dead Calm”). Pierce Brosnan is in breezy form as Charlie Swift, a seasoned hitman for a Mississippi mobster family run by Stan (the late James Caan, in his final role). Paired with an inexperienced partner on his latest assignment, he finds himself being tracked down by a crime boss nicknamed Beggar (Gbenga Akinnagbe), who plans on taking over Stan’s territory. With the aid of Marcie (Morena Baccarin), the ex-wife of a liquidated hood, Charlie heads off to New Orleans in search of evidence to take down Beggar. Tempering violence with humor and moving at a brisk clip, this is deft, flavorful entertainment.

Napoleon (Amazon Prime, Vudu): Joaquin Phoenix reunites with his “Gladiator” director, Ridley Scott, for this engaging, visually sumptuous historical epic about the eponymous French emperor. Beginning with Napoleon Bonaparte (Phoenix, in a shrewdly brooding performance) as a witness of the turmoil of the French Revolution, the sweeping narrative charts his fall and rise during war campaigns across Europe in the 19th-century. His monumental battlefield strategies, whether the triumph at Austerlitz or the downfall at Waterloo, are contrasted with the intimate struggles alongside his wife, Josephine (Vanessa Kirby). Though full of sequences showcasing Scott’s mastery of muscular pageantry, the film also fascinates as a political portrait with involving drama and surprising humor.

Silent Night (Amazon Prime): What better way to kick off the new year than with this breathless thriller from Hong Kong virtuoso John Woo (“Hard Boiled”), which brings all-out mayhem to its seasonal setting. The plot follows Brian (Joel Kinnaman), an electrician in Texas whose son is killed by a stray bullet in a gangland shootout on Christmas Eve. Having also lost his voice after getting shot in the throat, he becomes a single-minded figure of vengeance, training in combat and gathering information on the criminals responsible. One year later, he’s ready to embark on a furious rampage. As befits an action specialist, Woo cuts back on dialogue to focus on dynamic visuals. The result is a delirious ride that’s destined to become as much a Christmas action staple as “Die Hard.”

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

Black Mouth Cur/Labrador Retried Mix
Seattle, Washington  Adopt-a-Dog

Daisy Duke
Female
Spayed
2 Years Old
Short-Haired
House Trained
Good with Children
Up-to-date with Vaccines

Daisy originally joined us from Texas in November 2019 and was fostered and soon adopted by a loving couple. Unfortunately, more than 4 years later, she is being returned to the rescue as there is a new baby in the home. Daisy does not have a bite history with humans or dogs, but would need slow introductions to other resident dogs. She is a 6-year-old Cur mix who has fairly low exercise needs. She would prefer a fenced yard to romp in versus daily walks or hikes as she is anxious on leash. She is social and friendly meeting new people and comfortable with handling. She'd do best with older children and should not live with cats. She does not have separation anxiety and is not destructive in the house; she's a mellow, sweet, affectionate, loving dog who deserves to be a part of a family.

Ideal Family: Single family home with securely fenced yard, balanced resident dog with slow introductions or as only dog in the home. No cats or small kids.

Animal Profile: Daisy is an estimated 2 year old 65 lb female mixed breed. Daisy was rescued from the streets of TX and adjusted to the good life in her TX foster home, making friends with dogs and kids. But she loves to be with her humans most! Daisy is now settled into her Seattle foster home where she lives with a cur foster sister and gets along great with her!  She is happy, playful and affectionate. Daisy is super responsive to commands and correction and is eager to please. While she can get excited when out and about, she tends to be more on the mellow side in the home.  Daisy is house trained, potty trained and crate trained.  She still has a ways to go on her leash training but we are making progress every day! Stay tuned for more updates!

Adoption Info: Daisy is spayed, up to date on core vaccinations, heartworm negative and has a recent visit with a veterinarian

Apply online at https://doggoneseattle.org/

Animal History: This dog was rescued from a high kill TX shelter by our partners: Three Little Pitties All Breed Rescue ,and transferred to Seattle in Nov 2019. She was adopted in 2019 and being returned to the rescue now, in Jan 2024. She needs a foster or adopter by Feb 20, 2024 or she will be at risk.

Dog Gone Seattle
adopt@doggoneseattle.org
Contact:
https://doggoneseattle.org

News Briefs

Intel Reports Fourth-Quarter and
    Full-Year 2023 Financial Results
https://www.intc.com/news-events/press-releases/detail/1672/intel-reports-fourth-quarter-and-full-year-2023-financial

Porsche’s all-electric Macan SUV boasts
    a 381-mile range and up to 621hp
https://www.engadget.com/porsches-all-electric-macan-suv-boasts-a-381-mile-range-and-up-to-621hp-163940921.html

The One Part of the Housing Market
    That’s Growing
https://www.nytimes.com/2024/01/25/business/housing-market-new-existing.html

Maine aims to rebuild after devastating storms
    unprecedented damage to state
https://www.courthousenews.com/maine-aims-to-rebuild-after-devastating-storms/

Regional Banks Had Another Ugly Quarter
    Profits are down sharply as higher rates exact toll
https://www.wsj.com/finance/banking/regional-banks-had-another-ugly-quarter-db141a0e?st=3tfffxsut69crld&reflink=desktopwebshare_permalink

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'Cartoon of a city’: Oakland wine bar burglarized
Then owner gets the bill
https://www.sfchronicle.com/bayarea/article/snail-bar-robbed-oakland-crime-police-18626014.php

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Sports Briefs---

Falcons hire Raheem Morris as head coach
 First Full-Time Black Head Coach Franchise History
https://www.ajc.com/sports/atlanta-falcons/falcons-to-hire-raheem-morris-as-head-coach/XUC5AUETS5AK3GV5V5D7LFSBXY/

‘A Landmark Deal’: 49ers, Levi Strauss agree to
10-year, $170 million naming rights extension for Levi’s Stadium
https://www.mercurynews.com/2024/01/25/a-landmark-deal-49ers-levi-strauss-agree-to-10-year-170-million-naming-rights-extension-for-levis-stadium/

Levi's to slash its global workforce by up to 15%
as part of a 2-year restructuring plan
https://www.pressdemocrat.com/business/?ref=menu

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California News Briefs---

California utility regulators fine PG&E $45 million
    for Dixie Fire, state’s 2nd-largest wildfire
https://www.gazettextra.com/news/nation_world/california-utility-regulators-fine-pg-e-45-million-for-dixie-fire-state-s-2nd-largest/article_11076370-61ff-5ecb-8924-61c1de892298.html

Housing and mini Santana Row are eyed at
Bishop Ranch in San Ramon: new plans
https://www.mercurynews.com/2024/01/25/san-ramon-house-home-tech-bishop-ranch-chevron-office-build-economy/

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Gimme that Wine

 

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

Saudi Arabia, a country where you can be publicly whipped
    for drinking alcohol, is opening its first liquor store
https://www.businessinsider.com/saudi-arabia-to-open-first-store-selling-alcohol-reuters-2024-1

Josh Cellars Wine Is all Over the Internet
Right Now — Here's Why
https://www.foodandwine.com/josh-cellars-wine-memes-explained-8548160

Walla Walla Valley wines making
inroads in Boise
https://www.northwestwinereport.com/2024/01/valley-wines-making-inroads-in-boise.html