New Hires/Promotions in the Leasing Business
and Related Industries

Douglas Ahrens was hired as Vice President, Senior Underwriter, Peapack Capital Corporation, a subsidiary of Peapack-Gladstone Bank, Bedminster, New Jersey. Previously, he was Vice President, Credit and Underwriting, Syndications, Sumitomo Mitsui Finance and Leasing Company (September, 2021 - July, 2024); Vice President, Credit and Underwriting, Sterling National Bank. Full Bio:
https://www.linkedin.com/in/dougahrens1/details/experience/
 https://www.linkedin.com/in/dougahrens1/

Michael Molenda was hired as Director of Capital Markets & Business Development, UPG Enterprises, Oak Brook, Illinois. He is located in La Grange, Illinois. Previously, he was Managing Director, Post Road Equipment Finance, LLC (2021 - 2023); Senior Sales Director, PNC (2019 - 2021). Full Bio:
https://www.linkedin.com/in/michaelemolenda/details/experience/
https://www.linkedin.com/in/michaelemolenda/

Keara M. Piekanski, CLFP, was promoted Vice President of Marketing & Communication, Oakmont Capital Services, a JA Mitsui Leasing Group, West Chester, Pennsylvania. She resides in Greater Philadelphia. She joined Oakmont August, 2018, Director of Marketing. She continues as Owner/Marketing Maven, Two Cent Consulting (August, 2016-Present). Previously, she was at American Healing Aid Associates, 7 years and 10 months.
https://www.linkedin.com/in/kearampiekanski/

Elizabeth Wilken was promoted to Senior Accountant, CRST The Transportation Solution, Inc. , Cedar Rapid, Iowa.  She is located in Alburnett, Iowa. Previously, she was at GreatAmerica Financial Services, starting May, 2018, Credit Analyst, promoted April, 2020, Accountant, promoted May, 2017, Financial Analyst (June, 2021 - July, 2024).
https://www.linkedin.com/in/elizabeth-wilken-87844990

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Major Bankruptcy Affects the Truck Industry
By James Menzies, Trucknews.com

(photo: Trucknews)

Pride Group Holdings filed Bankruptcy on March 28, 2024, catching the truck industry in the worst time to be in business. The rising costs, lack of professional drivers, and other problems are well known. The filing called for creditor protection from 16 transport companies, 45 real estate holding companies, and 10 others holding companies founded and controlled by Sulakhan “Sam” Johal. His Canada investors were hit the hardest.

Three lawsuits on behalf of the Mitsubishi HC Capital named Sulakhan ‘Sam’ Johal and Jasvir Johal, accusing them of taking out credit lines to build inventories for Pride Truck Sales and Tpine Leasing. It accused them of defaulting on payments they had personally guaranteed.

The filing  states that Pride Group operated more than 50 leased and owned facilities in the US and Canada, controlling more than 20,000 trucks, including many on the companies' dealer lots.

20 lenders claimed more than $1.6 billion in debt. Court documents say some 30,000 truck drivers’ interface with Pride Group annually, as employees, customers, lessors or contractors. It has roughly 1,000 employees and independent contractors in the U.S., Canada and India, most of them in Canada.

(The effect fell on many banks, finance, and leasing companies, perhaps including the Chesswood Group, as an example. Editor).

Full Article (including “Have Your Say” comments
https://www.trucknews.com/business-management/court-documents-tell-the-story-of-pride-groups-troubles/1003183569/

The Following details how many deals each lessor has in their securitizations that appear to have been pledged multiple times to different lenders. Mitsubishi is not mentioned in the attached but they have very large exposure and initiated the first lawsuit. Specific information on the U.S. Chapter 15 proceeding, as well as a list of public documents:

https://documentcentre.ey.com/#/detail-engmt?eid=589

Sign Up for Trucknews Newsletter:
https://newcom.dragonforms.com/loading.do?omedasite=TT_NLsignup

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support
Plus other openings for successful, growing funders

The Olympics in France Remind Me
Why Athlete Are the Best to Hire
By Ken Lubin, ZRG Partners

Watching the Olympics in France on TV reminds me again that athletes are some of the most driven, dedicated, and disciplined individuals out there. They have spent years training their bodies and minds to perform at the highest level, often in highly competitive environments. These traits make them highly desirable employees for any organization. Here are just a few reasons why you should consider hiring athletes for your team:

1. They have a strong work ethic.

Athletes are used to putting in long hours of training and practice, often sacrificing social lives and other activities to achieve their goals. This work ethic translates well into the workplace, where they are likely to be committed to their job and willing to put in extra effort to ensure success.

2. They are team players.

Athletes are used to working with others towards a common goal. They understand the importance of communication, cooperation, and supporting their teammates. This makes them valuable assets in any workplace where collaboration and teamwork are essential.

3. They are adaptable and resilient.

Athletes are used to dealing with adversity and setbacks. They have learned to overcome injuries, losses, and other obstacles in their athletic careers. This resilience makes them well-suited for the fast-paced, constantly changing world of business, where adaptability is key to success.

4. They understand the importance of goal-setting.

Athletes are driven by the pursuit of goals. They know how to set targets and work towards them systematically, often breaking down larger goals into smaller, achievable milestones. This skill is highly valuable in the workplace, where employees who are focused on achieving results are more likely to succeed.

5. They are competitive.

Athletes are naturally competitive individuals who are used to performing under pressure. They thrive in challenging environments and are motivated by the desire to win. This competitiveness can translate well into the workplace, where it can drive innovation and improve performance.

Overall, hiring athletes can bring a range of valuable skills and qualities to your organization. Their work ethic, teamwork, resilience, goal-setting abilities, and competitiveness can all contribute to the success of your team. So the next time you are looking to hire, consider giving an athlete a chance to shine in the business world.

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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Commercial Finance/Leasing Finance
Conferences & Forums

Daymond John, one of the long running stars of Shark Tank, is the main man in charge in expanding the broker finance marketplace via Broker Expo.

Sept. 4-5: AACFB Commercial Financing Expo,
New Orleans, Louisana
https://expo.aacfb.org/home
Registration Now Open - note: Women in Finance Breakfast Hottest to Attend!
https://leasingnews.org/archives/Jul2024/07_22.htm#aacfb
Vicki Shimkus, CLFP, Balboa Capital, A Division of Ameris Bank| Broker Relationship Manager, will be covering the conference for Leasing News readers.

Sept. 10-12: CFLA Conference, St. John's, NL, Canada
https://cfla-acfl.ca/cfla-annual-national-conference-2024.html
Early Bird Rate Available:
https://cfla-acfl.ca/programs-services/event-calendar.html/event-info/details/id/48
Hugh Swandel, President, Meridian OneCap Commercial Credit, will be covering the conference for Leasing News

Sept. 23 - 24: B2B Finance Expo, Wynn, Las Vegas, NV
https://www.b2bfinexpo.com/
It also features Poker Game for 50, Sunday, Sept. 22, 2024
https://www.b2bfinexpo.com/page/3932469/poker-party
Accepting Reservations:
https://book.passkey.com/gt/220111918?gtid=3de05f54910c4c17c858cd28e9e1b9cf

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida
https://www.nvla.org/page/2024conference
Early Bird Special:
https://leasingnews.org/archives/Jul2024/07_12.htm#nvla
Sloan Schickler, Esq., Schickler & Schickler, will be covering the conference for Leasing News. She is also presenting there.

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX
Convention details
Early Bird Registration Available, Plus Hotel
https://www.elfaonline.org/education-networking/2024/annual-convention
Bruce Kropschot, Senior Managing Director, The Alta Group, will be covering the ELFA Convention, as he has done for  Leasing News for many years.

Nov. 6, 2024, Brokers Expo, New York City
https://brokerexponewyorkcity.com/
Super-Early-Bird-Pricing-Announced
https://reg.eventmobi.com/BENY24/register
Elevate Your Brand - Become a Sponsor
https://leasingnews.org/archives/Jul2024/07_26.htm#expo

Nov. 11-14: NEFA Fall Conference, Indianapolis, Indiana
https://www.nefassociation.org/events/upcoming
Don Cosenza, CLFP, Senior Vice President of North Mill Equipment Finance, will be covering the conference for Leasing News

To be listed or update: kitmenkin@leasingnews.org

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Countries with the Most Olympic Medals
Nations with Most Summer Olympic Medals since 1896

This year, more than 10,000 athletes are set to take part in the competition, with events scheduled not only in Paris but several other cities around France, including Nantes, Marseille and Châteauroux, while the surfing event will take place in Tahiti, French Polynesia.

As data compiled by the Olympedia website shows, The United States has won the most medals in the Summer Olympics since 1896. U.S. athletes have won a total of 2,655 medals: 1,070 gold, 841 silver and 744 bronze. Meanwhile, the second most successful nation is the USSR, which only took part between 1952 and 1988. In just ten summer events, Soviet athletes won 395 gold medals, 319 silver medals and 296 bronze medals, for a total of 1,010 medals.

Top Ten Stories Opened by Leasing News Subscribers
July 22 - July 26

(1) New Hires/Promotions in the Leasing Business
    and Related Industries
https://leasingnews.org/archives/Jul2024/07_24.htm#hires

(2) New Hires/Promotions in the Leasing Business
    and Related Industries
https://leasingnews.org/archives/Jul2024/07_22.htm#hires

(3) New Hires/Promotions in the Leasing Business
    and Related Industries
https://leasingnews.org/archives/Jul2024/07_26.htm#hires

(4) Chesswood To File Restated Financial Statements
  and MD&A As a Result of Prior Disclosed Errors
in Borrowing Base Calculations
https://leasingnews.org/archives/Jul2024/07_24.htm#cwg

(5) Readers Concerned about Chesswood Group  
  Limited:  Questions on the Postponement
    Situation due to Financial Reporting
By Kit Menkin, Editor
https://leasingnews.org/archives/Jul2024/07_26.htm#cg

(6) Securing Key Relationships
By Scott Wheeler, CLFP
https://leasingnews.org/archives/Jul2024/07_24.htm#securing

(7) The Salary Needed to Buy a Home
in 50 U.S. Cities
https://leasingnews.org/archives/Jul2024/07_26.htm#cg

(8) Commercial Finance/Leasing Finance
Conferences and Forums
https://leasingnews.org/archives/Jul2024/07_22.htm#conf

(9) Elevate Your Brand - Become a Sponsor of
The Brokers Expo New York City Nov. 6, 2024
https://leasingnews.org/archives/Jul2024/07_26.htm#expo

(10)  Work Hard                                                                                          
By Ken Lubin, ZRG Partners
https://leasingnews.org/archives/Jul2024/07_22.htm#work

Mixed Breed – Cute Dog
Eugene, Oregon  Adopt-a-Dog

Gina
Female
44 lbs.
white/black
Spayed
Declawed: no
Housetrained: unknown
Intake Date: 6/27/2024
Adoption Price: $100

Hi, I'm Gina! I'm about 4 years old and weigh 70 pounds. If you're looking for the perfect mix of calm, silly, and cuddly- I'm your gal!

** Here is what a volunteer says about me:
"Once Gina warms up to you she is so sweet, wiggly and affectionate. She's perfect on the leash and leans into you for pets and love. She's a big lovey." **

Do you like...

Dogs? I'd prefer to be the queen of my castle! (No other dogs).

Cats? Unknown. My forever family will need to be committed to slow introductions and separation of space if you'd like me to possibly live with a cat.

Kids? I'd like to start out meeting kiddos 11+ as I can be nervous and standoffish with new people. Please bring any kids in the home to meet to see how we get along!

I came into the shelter as a stray and the above information are all recommendations based on my behavior seen at the shelter. I have no known history. Expect to learn more about me after adoption.

This pet is located at Greenhill Humane Society.
88530 Greenhill Road
Eugene, OR 97402
(541) 689-1503.
www.green-hill.org

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B2B Business Finance
September 23-24 The Wynn, Las Vegas

The inaugural B2B Finance Expo will debut in Las Vegas this Fall from September 23-24 at The Wynn. Powered by deBanked in collaboration with the Small Business Finance Association (SBFA), the conference will bring together the leading lenders, funders, and brokers from across the spectrum of commercial finance, leasing, mortgage, and revenue-based capital products.

Steve Denis, Executive Director of the SBFA, said, “The goal is to bring together leaders in commercial finance at an upscale event focused on delivering value to participants.

“Our content will gather industry leaders’ perspectives on partnerships, capital markets, diversifying income streams, and compliance in an environment that balances education, growth, and relationship building.”

Sean Murray, deBanked founder, said, “We’ve produced nearly 20 commercial finance related conferences since 2018. Brokers from all segments of commercial finance looking for a valuable conference to expand their network, learn, and grow their business should attend B2B Finance Expo in Las Vegas this year. It’ll be the biggest one of its kind this Fall.”

The SBFA is a non-profit advocacy organization dedicated to ensuring Main Street small businesses have access to the capital they need to grow and strengthen the economy. The SBFA’s mission is to educate policymakers and regulators about the technology-driven platforms emerging in the small business lending market and how their member companies bridge the small business capital gap using innovative financing solutions. Attendees of the conference will have the opportunity to support this initiative.

To register: https://www.b2bfinexpo.com/page/3861631/registration

To inquire about sponsorship, complete this form here:
https://www.b2bfinexpo.com/page/3798733/sponsorship-info

News Briefs

Feds argue Roglieri shouldn't get another
    chance to get out of jail
https://www.timesunion.com/business/article/feds-argue-roglieri-isn-t-entitled-new-detention-19594475.php

Chesswood Group Limi6ed (CHW.T0) Stock

Why regional banks are now willing
    to take billions in losses
https://finance.yahoo.com/news/why-regional-banks-are-now-willing-to-take-billions-in-losses-123009272.html 

Justice Dept. claims TikTok collected US user
    views on issues like abortion and gun control
https://www.pressdemocrat.com/business/?ref=menu

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They have jobs, but no homes. Inside America’s
    unseen homelessness crisis.
https://www.washingtonpost.com/business/2024/07/28/homeless-lack-of-affordable-housing-economy

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Sports Briefs---

Durant parachutes in as Team USA beats
    Serbia in group stage opener  (Great Game!)
https://www.eastbaytimes.com/2024/07/28/durant-parachutes-in-as-team-usa-beats-serbia-in-group-stage-opener/

Bob Ballard removed from Eurosport’s Olympics
coverage after sexist comment about Australia swimmers
https://nypost.com/2024/07/28/sports/bob-ballard-removed-from-eurosports-olympics-coverage-after-sexist-comment/

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California News Briefs---

California’s last-resort fire insurance could get big  
    commercial coverage boost, home ‘hardening’ discount
https://www.northbaybusinessjournal.com/article/industrynews/fair-plan-20m-commercial-limit-home-hardening-discount

Attorney General issues alert against illegal
    price gouging amid California wildfires
https://legalnewsline.com/stories/662120124-attorney-general-issues-alert-against-illegal-price-gouging-amid-california-wildfires

Historic California gold mining town
    wiped out by Borel Fire
https://www.sfgate.com/california-wildfires/article/california-gold-town-wiped-out-borel-fire-19602490.php

Graton Rancheria leader Greg Sarris unloads
   on rival proposed Koi Nation casino near Windsor
https://www.pressdemocrat.com/article/news/graton-casino-sarris-koi-nation-windsor/

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Gimme that Wine

 

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

Major wine conglomerate files for bankruptcy
   Santa Rosa-based Vintage Wine Estates
https://www.courthousenews.com/major-wine-conglomerate-files-for-bankruptcy/

Vintage Wine Estates warns of 377 layoffs
possible amid bankruptcy
https://www.pressdemocrat.com/article/industrynews/vintage-wine-estates-sonoma-napa-jobs-layoffs/

Brion Wise Buys Former Cosentino Winery
from Vintage Wine Estates
https://www.winebusiness.com/news/article/290381

Myriad Milestones: Truchard Vineyards Celebrates
 35 Years of Winemaking, 50 Years of Grape growing,
and 60 Years of Marriage.
https://www.winebusiness.com/news/article/29044