Friday, June 15, 2012
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A Father And Son (So True)
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Resource America downsizing its operation?
Resource America, Inc. (REXI) bills itself as a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, commercial finance and financial fund management sectors.
While Resource Capital announced a 20 cents per share dividend and CVC Credit Partners won the global award for "Best CLO Manager" a the 1012 Creditflux CLO Managers Awards, its parent company, Resource American, In. (REXI) outsourced all of its IT department for all departments. Besides losing money with LEAF Financial, thier CDO ("Consolidated Debt Obligation" business under Resource America has been bleeding money also. It appears the only group that seems to still be in the black is real estate, and of course, the Atlas Energy offshoot, making the owners billionaires.
The company is basically controlled by father and son, one chairman, one president, and according to the last securities report, here is the percentage of stock owned: Chairman Edward Cohen 14.97%, CEO Jonathan Cohen 14.87%, non-director executive officers (14) 25.94%%, and four groups own 35%.
With the "discontinued" relationship with LEAF Financial and consolidation of its Philadelphia office, and now outsourcing all ITT, looks like Resource America is downsizing its operation.
The stock closed at $6.31 a share with the 52 week high was at $7.19, and low at $4.03.
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Tom Bridgeford was hired as credit analyst for Creekridge Capital, Minneapolis, Minnesota. Previously he was credit analyst, American National Bank of Minnesota. The University of North Dakota BBA, Managerial Finance/Corporate Accounting (2003 – 2007).
"James F. Earl is appointed executive vice president and president – GATX Rail International, San Francisco, California. In this role, Mr. Earl will continue to have oversight of GATX Rail Europe and assumes responsibility for GATX India Private Limited and all emerging rail markets...Brian A. Kenney, president and chief executive officer of GATX said, '“The creation of Jim’s position is reflective of GATX’s increasing focus on international rail growth. Our commitment to developing a presence in emerging rail markets is demonstrated by our recently announced rail investment in India. Jim’s wealth of experience in the rail industry makes him ideally suited to lead these efforts as we further develop our international presence'.”
Mr. Earl will continue his position as Chief Operating Officer for GATX.
"In 2006, Mr. Earl was elected Executive Vice President and Chief Operating Officer for GATX. Mr. Earl had been elected Executive Vice President - Rail of GATX Corporation in 2004 and served as GATX's senior Rail executive. Previously, he was Executive Vice President - Commercial for GATX Rail from 2001 to 2004. Mr. Earl joined GATX Capital's Rail Group in 1988 as Director. Prior to joining the Company, Mr. Earl served as Director - Service and Equipment Planning - with Soo Line Railroad, and with Southern Pacific Railroad as a Terminal Superintendent, Assistant Terminal Superintendent and Assistant Trainmaster. Mr. Earl received his BSBA from Washington University in St. Louis in 1979 and his MBA from the University of Pennsylvania's Wharton School in 1981."
Deborah A. Golden was appointed Executive Vice-President for GATX Corporation, San Francisco. She will assume responsibility for GATX's audit and compliance activities. She is presently general counsel and secretary, continuing in this position. "She was elected Vice President, General Counsel and Secretary of GATX Corporation in 2006, when she joined the Company from Midwest Generation where she served as Vice President and General Counsel since 2004. She served as Assistant General Counsel, Office of the Governor, State of Illinois, from 2003 to 2004 and was Assistant General Counsel at SBC Communications, Inc./Ameritech Corporation from 1997 to 2001. Ms. Golden began her legal career at Schiff, Hardin & Waite in 1984 and was named Partner in 1991. She earned her JD in 1984 from Loyola University School of Law, her MBA from Loyola University in 1981 and her BA from Boston College in 1976."
Heather Green hired as vendor program manager for Creekridge Capital, Minneapolis, Minnesota. Previously she was marketing association, U.S. Bancorp Leasing and Financial (February, 1998-July, 1999), lease administrator, Sunrise Leasing (1990-1996). University of Minnesota-Twin Cities Bachelor of Arts, Speech Communication
Melanie Gutzmer hired as Vice-President, Regional Business Development Officer, for United Capital Business Lending, Hunt Valley, Maryland. Previously she was marketing vice president, Infinity Franchise Capital (March, 2011-June, 2012) University of Nebraska, Business Administration, Lincoln School of Commerce.
Robin Corney Horst named Director of Sales at De Lage Landen Financial Services, greater San Diego area. Previously vice president of Healthcare Sales, Popular Leasing (2002-2008), AVP, CitiCapital (1989-2001).
Brian de la Houssaye has been named vice president-new business development for AIG Commercial Asset Finance, "...to cover the south center portion of the United States and be locate din the company's headquarters in Plano, Texas." Previously he was a SVP, ATEL Equipment Group (January, 2012-May, 2012), evp, Maxus Capital Group (October, 2002-January, 2012), svp, BancOne Credit Corp (200-2001), vp, Fleet Capital Corp. (1989-2000).Thunderbird School of Global Management MIM, Marketing/Finance (1976 – 1977), University of Arizona BA, Writing (1966 – 1972).
Robert C. Lyons was appointed executive vice president for GATX Corporation, San Francisco, California. He will also assume the responsibility of the Portfolio Management segment. He currently is also the chief financial officer, continuing in this position.” He joined GATX in 1997 and was promoted through the treasury and investor relations departments before being elected vice president, investor relations in 2002. Prior to joining GATX, Mr. Lyons worked for the Financial Relations Board and in the corporate banking division of The Bank of Tokyo-Mitsubishi. Mr. Lyons received his BA from the University of Wisconsin-LaCrosse in 1986 and his MBA in Finance from the University of Notre Dame in 1988. He is a CFA charter holder and a member of the Investment Analysts Society of Chicago. He currently serves on the Board of Directors of Packaging Corporation of America (NYSE:PKG)."
Jon Mikres was hired as IT Analyst for Creekridge Capital, Minneapolis, Minnesota. Previously he was help desk analyst tier 1, Wand Corporation (October, 2010-May, 2012), IT Specialist (consulting )Spalon Montage (February, 2009-July, 2010 and February, 2006-December, 2008).Buena Vista University Bachelor's of Science degree, Information Science-Computer Science (Buena Vista University Bachelor's of Science degree, Information Science-Computer Science (2001 – 2005).
Whitney Miller was hired as office administrator for Creekridge Capital, Minneapolis, Minnesota.
Jane Peckham was hired as a funding specialist for Creekridge Capital, Minneapolis, Minnesota.
"Dennis M. Schneider has assumed the position as President of Transervice Logistics Inc., Transervice Lease Corp. and Transervice Lease Co., Lake Success, New York, succeeding Edward J. Flannigan in that position. Mr. Schneider and Mr. Flannigan have worked together for 31 years and have led Transervice as partners since 1985. Mr. Flannigan will retain equity in the Transervice Companies and his Board. Transervice has been providing transportation solutions since 1969, and presently operates from 145 locations in North America with responsibility for 25,000 road vehicles of every configuration, as well as material handling equipment."
Stratton Summers was hired as funding specialist for Creekridge Capital, Minneapolis, Minnesota.
Michelle Ternus hired as Senior Account Manager for United Capital Business Lending, Hunt Valley, Maryland. Previously she was an account manager, Infinity Franchise Capital (March, 2011-June, 2012), account manager, First Franchise Capital Corporation (October, 2006-March, 2011). Central Community College, Columbus, Nebraska.
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Canadian Finance & Leasing Association Conference
RUSSELL G. GOLDEN
ELFA is now accepting proposals from those interesting in making a presentation at the Annual Convention. For complete details, please go here: http://www.elfaonline.org/Events/?fa=Call Submission deadline is Friday, June 29, 2012.
November 7 - 9, 2012
32nd Annual Fall Conference
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The 10 Best Countries for Entrepreneurs
Chile also has a total tax rate of 25%, according to the World Bank, the lowest of all the OECD countries.
Most Portuguese citizens aged 18 to 64 do not believe good entrepreneurial opportunities exist in their country. Their concerns may be valid. Between 2005 and 2008, more jobs were lost from companies going out of business than were created by start-ups. Additionally, in both 2007 and 2008, company failures occurred more frequently in Portugal than in any other country.
France has a total bank loan success rate of 83.3% and more than 94% of businesses are microenterprises — businesses with fewer than 10 employees.
34.8% of Koreans worked for companies with between 10 and 49 workers — more than any other country within the OECD.
Foreign entrepreneurs and investors can now settle in the UK in as little as two years, depending on how much money they can inject into the economy, compared to the minimum five years for other visas.
The Irish Times estimates the number of people starting a new business each month has declined from around 2,800 in 2008 to 800 in 2010.
There is a high incidence of company failures, at 10.43% per year, which suggests that it may be difficult for small and medium-sized companies to stay in businesses. According to the Bureau of Labor Statistics, almost half of new companies fold after just five years of operation.
Not many Canadians have taken full advantage of the ease of starting a business. In 2008, Canada had one of the lowest percentages of start-ups of any OECD country for which information was available.
Australian business owners have a total tax rate of 47.7% — five percentage points higher than the average OECD tax rate, which may deter potential business owners.
Despite the ease of starting a business, 42.13% of New Zealanders work for a company with more than 250 employees — more than any nation other than the U.S. and UK. Still, New Zealand has maintained a high percentage of new companies created each year: 12.1% in 2007, 12.1% in 2008 and 10% in 2009.
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LinkUp Reaches 1 Million Job Listings
LinkUp announces its job search engine has reached 1 million job openings indexed exclusively from company websites throughout the U.S. This is a major milestone in support of LinkUp’s mission to deliver to job seekers the largest index of high-quality job listings available on the web. By updating the index daily and only including jobs from company websites, LinkUp eliminates expired jobs, duplicate listings, phishing posts, lead-gen bait, work-at-home scams, and other job board pollution.
“Getting to 1 million jobs was a significant goal of ours in 2012,” commented Toby Dayton, President and CEO of LinkUp. “Unfortunately, we haven’t gotten much help from job growth in the U.S., so we’ve really focused our efforts on adding more company websites to our search engine.” LinkUp’s search engine now includes 25,000 company websites throughout the U.S.
One of the areas of focus for the company has been adding companies that are actively recruiting Veterans. To date, LinkUp’s search engine lists job openings from well over 1,000 companies who are currently recruiting Veterans. These large employers include companies such as Accenture, Colgate Palmolive, Ernst & Young, HP, and Pitney Bowes to name a few.
Given the challenges in the current labor market for students and recent graduates, LinkUp has also concentrated its efforts around adding companies with available internships. LinkUp.com currently lists over 10,000 available internships across a wide variety of industries including Healthcare, Retail, and Financial Services.
LinkUp started the year with 775,000 job openings on its site and reached 1 million jobs in early June. During that time, LinkUp increased the number of companies in its search engine by approximately 10%. Not surprisingly, job seekers have responded positively to the larger index as traffic to the site has increased 68% since the first of the year.
Remarked Dayton, “It’s been particularly gratifying to see the correlation between growth in our job search engine and traffic growth on LinkUp, because at the end of the day, our singular mission is to build the best job site on the web. We feel like we’re doing that and it’s nice when your users agree with you.”
About LinkUp: LinkUp provides the largest search engine that contains only job listings sourced from company websites. By eliminating pay-to-post listings and jobs aggregated from other job boards, LinkUp’s search results are free from the job pollution that afflicts other sites. There are no duplicate posts, lead-gen bait, fraudulent listings, work-at-home job scams, or phishing posts. Furthermore, the index is updated daily and does not include jobs from staffing companies, headhunters, search firms, or any other 3rd-party intermediary.
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Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.
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Zab is a feisty 4-pound, Pom mix who is probably less than a year old. If your face or ears need washing, then Zab is the man for the job. He's friendly and cute and he'll bounce his way right into your heart. In fact, Zab reminds us of Tigger from Winnie the Pooh whose top was made out of rubber and his bottom was made out of springs. Zab was surrendered by his owner because the owner didn't have enough time to spend with him.
If you are interested in adopting Zab, please email firstname.lastname@example.org for an application. If you are interested in seeing a specific dog, please speak with our adoption staff member at 215-298-9680 X16 before coming to the shelter to make sure that the dog is still available.
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