Jim McGrane Passes Away

Jim McGrane, Executive Vice-President

"It is with great sadness that we must inform you that our dear colleague and friend, Jim McGrane, passed away earlier today. We were informed that Jim suffered from an illness that was short-term, but one that he could not overcome. As further details become available regarding services and plans for a funeral, we will make sure you are informed."

Sincerely,
Woody and Adam
Equipment Leasing & Finance Association

Mr. McGrane was vice-chairman, first, ELFA.

From Everbank website:

“With over 30 years of experience, Jim McGrane is a veteran of the business of equipment leasing. In addition to co-founding USXL and leading Tygris Vendor Finance, Jim has held leadership roles with such industry standouts as US Leasing, AT&T Capital, and Heller Financial. As Group President of Heller Global Vendor Finance, Jim was responsible for running the company’s activities in North America, Latin America, Europe, and Asia. Jim is no stranger to building successful businesses, having launched AT&T's CapitaPlus business—later sold to American Express—and two successful management consulting practices. His expertise spans sales and marketing, business process and organization design, business development, and global relationship-building.

“Currently a member of the Equipment Leasing & Finance Association’s board of directors and executive committee, he also previously served as Chairman of the Small Ticket Business Council. Jim is a graduate of New York Institute of Technology.”
http://www.everbankcommercialfinance.com/Leaders.aspx

The following is from his Linkedin.com biography:
-- Executive Vice President - Commercial Group, EverBank (September 2013 – Present);
-- President, EverBank Commercial Finance (February 2010 – September 2013);
-- President, Tygris Vendor Finance (May 2008 – February 2010);
-- CEO & President, US Express Leasing (2004 – 2008);
-- President - Global Vendor Finance, Heller Financial (1999 – 2002);
-- Principal, Integra Consulting, LLC (1994 – 1998);
-- Senior Vice President, AT&T Capital Corporation (1985 – 1994);
-- Sales Management, US Leasing Corp. (1980 – 1985).

www.linkedin.com/pub/jim-mcgrane/0/916/2a5

When more information is available regarding where to send condolences and funeral, Leasing News will inform readers.

 

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Archives---March 14, 2006
Marlborough names LaChance “Business Person of the Year”

Sandra LaChance with husband Larry

Larry LaChance, president of Bankers Capital in Marlborough, Massachusetts was named the Marlborough Regional Chamber Business Person of the Year.

“Larry is an active ambassador for the Chamber and now serves out board of director,” said Susanne Morreale Leeber, president and CEO of the Marlborough Regional Chamber of Commerce. “By joining together, business people have accomplished and can still accomplish what no one person could do alone.”

LaChance has been a member of the local Chamber since 1995 and was a founding member of the Marlborough Chapter Business Network International.

“People will forget what you said, and people will forget what you did, but people never forget how you made them feel,” said LaChance in accepting the award.

Here is the front page of the newspaper with the story:

http://leasingnews.org/PDF/Larry_LaChance.pdf

Today

llachance@bankers-capital.com
www.linkedin.com/pub/larry-lachance/0/923/70a

 

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Classified Ads---Operations

 

(These ads are “free” to those seeking employment or
looking to improve their position)

Dallas/Fort Worth or Will Work Remotely Active CLP/BPB Leasing Superstar! Unmatched work ethic and positive energy - strong attention to detail - have taken transactions from application through funding.  Have worked as both broker & funder.  Problem solver - strong sales and customer service personality.  I keep the deals moving and alive!  Will relocate for the right opportunity.   laura.noblin@gmail.com

Want To Work From Home:  Have 10+ years in readying Lease Origination Documentation, Litigation case mgmt., Collection, Repossession, Remarketing, complete Discovery and Interrogatories, attend Trials and Mediation, prepare and submit SAR’s, translate for Spanish speaking customers, clients and employees, monitor high risk accounts for monetary penalties, bankruptcy management. Email: BRFR@ATT.NET

Willing to relocate Having successfully held senior level operations and sales & marketing positions in the receivable management industry, I'm a hybrid who understands business from both perspectives. I have almost twenty-five (25) years’ experience selling services to Fortune 500 companies and operating large, nationally licensed call centers / collection agencies. dannyczyrny@gmail.com - Resume

 

Free Posting for those seeking employment in Leasing
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

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Ascentium Capital Closes $200 Million Securitization

KINGWOOD, TX, – Moody’s Investors Service and DBRS issued the highest possible ratings, Aaa and AAA respectively, on Ascentium Capital’s senior class of notes in their second securitization which closed today. The underwriters of the transaction were Bank of America, Credit Suisse and JP Morgan Chase Bank.

The triple-A ratings significantly lower the cost at which the organization borrows funds enabling Ascentium Capital to become even more competitive.

Tom Depping
CEO

"This rating validates the strength and stability of Ascentium Capital," said Tom Depping, Chief Executive Officer of Ascentium Capital.

The ratings were based on several critical factors including:

• Strong financial condition of the company

• Consistent portfolio performance over the past 10 years

• Continuous leadership by an experienced executive management team

• Efficiency-based finance model driven by a proprietary technology platform

Evan Wilkoff
Exec. VP, Capital Markets

“Our highly diversified funding strategy also helped us achieve this rating,” Evan Wilkoff, Executive Vice President of Capital Markets, said.” As we continue to build off of our proven strategy, we're confident this momentum will drive exceptional business growth and profitability in 2014.”

Ascentium Capital, as a direct lender, specializes in providing equipment financing and leasing solutions that drive growth and profit for equipment manufacturers, distributors as well as direct financing to businesses nationwide. The company is backed by the strength of leading private investment firms Vulcan Capital and LKCM Capital Group, LLC. For more information, please visit AscentiumCapital.com.

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Chesswood Record pretax earnings of $19.7 million

TORONTO, ONTARIO-- - Chesswood Group Limited (the "Company" or "Chesswood") (TSX: CHW) announced its results for the year ended December 31, 2013.

The Company's income before taxes was $19.7 million for the year, compared to $16.6 million in 2012, an increase of 19%.

Barry Shafran
President/CEO

"This year was another milestone year for Chesswood. Pawnee generated record earnings, we launched Windset Capital in October, our new U.S. based working capital business, while Case Funding and Acura Sherway posted excellent results which also improved over the prior year," said Barry Shafran, the Company's President and CEO.

Chesswood paid dividends of $8.1 million in 2013, compared to $7.2 million in 2012.

Financial Highlights	For the Year
(in CDN $000's, except EPS)	Ended December 31
	2013		2012
Income before taxes, fair value adjustments, debenture issue costs & unrealized foreign exchange	$	19,881	$	15,838
Net Income	$	10,905	$	8,989
Adjusted EBITDA(1)	$	21,588	$	17,953
Earnings Per Share - basic	$	0.96	$	0.80

Debenture, Northstar Leasing and Windset Capital

December 16, 2013, Chesswood announced it had completed its offering of $20.0 million aggregate principal amount of 6.50% convertible unsecured subordinated debentures. The Debentures have been listed on the TSX under the symbol CHW.DB.

On February 3, 2014, Chesswood announced that it had purchased of all of the outstanding shares of Northstar Leasing Corporation, a long-standing non-prime commercial equipment finance company, located in Barrie, Ontario. Chesswood now has a North-American small ticket platform and can offer its products and services to brokers and their customers, regardless of which country they operate in. Northstar has decades of experience and management believes that this experience coupled with Pawnee's expertise, will allow the businesses to leverage the strengths of one another.

During February, Chesswood injected an additional U.S. $1.75 million into Windset Capital Corporation to fund growth in its working capital loan portfolio. In conjunction with this additional investment, Pawnee's syndicate of lenders approved amendments to the current banking agreement that provide Windset with access to an additional U.S.$5.0 million of capital from Pawnee's credit facility.

These financing activities reflect the stronger than expected originations of Windset, since its launch in late 2013.

Non GAAP Measures

References to Adjusted EBITDA are not recognized measures under International Financial Reporting Standards and do not have standard meanings. Accordingly, these measures may not be comparable to similar measures presented by other issuers.

Please refer to the Company's Management Discussion and Analysis for the three months and year ended December 31, 2013 for additional information concerning this measure and a reconciliation of this measure to the Company's consolidated net income for the period.

About Chesswood Group Limited 

Chesswood is a specialty finance company with operating businesses in both Canada and the U.S.

To learn more about Chesswood Group Limited, visit:www.ChesswoodGroup.com.

The separate websites of Chesswood Group Limited's operating businesses are at:
www.PawneeLeasing.com, www.WindsetCapital.com, www.nstarleasing.com,
www.CaseFunding.com and www.AcuraSherway.com.

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New Hires---Promotions

Terry Gill has joined First Financial Healthcare Solutions, Placentia, California, as regional vice president; working out of Atlanta, Georgia, to cover the southwest. Previously he was Sr. VP of Healthcare Finance, ePlus Technology (2011–2014 ); Senior VP-Healthcare Finance, Bank of America (2006–2011); Vice President Healthcare Financial Services, GE Capital (2003–2006); Director of Sales and Marketing, Marcap Corporation (1996–2003); Regional Sales Manager, Toshiba America Medical Systems (1991–1996); President, Sunbelt Digital Displays, Inc. (1985–1991); CT Product, Specialist/District Sales Manager, Picker International (1981–1985); CT Product Specialist, Technicare Corporation (1978–1981); Sales Representative, Pfizer (1977–1978); Health Education Teacher/Assistant Basketball Coach. Holy Cross High School (1975–1977); Graduate Assistant Basketball Coach, University of New Orleans (1974–1975). He currently is on the Board of Directors Entrada, Inc. (January 2011–Present). Education: University of New Orleans, M.Ed., Educational Administration (1974–1977), Activities and Societies: Graduate Assistant Basketball Coach (1975); University of New Orleans, BS, Health and Physical Education (1970–1974). Activities and Societies: Basketball scholarship.
www.linkedin.com/pub/terry-gill/32/618/308

Nancy Hepner named Document Specialist II/Officer at SunTrust Equipment Finance & Leasing Corp., Baltimore, Maryland. She joined the firm March, 2007. Previously she started as commercial administrator for SunTrust Bank, becoming commercial administrative supervisor, and in December, 2003 became a credit analyst for the bank. June 1995–July 1999, Real Estate Closing Specialist, First Union National Bank. Education: Overlea Senior High School Accounting, 1978–1980. Community College of Baltimore. Currently Working on Associates, Accounting and Business/Management.
www.linkedin.com/pub/nancy-hepner/21/438/997

Gregory “Greg” S. Leymon appointed vice president and named leasing manager for Michigan for Key Equipment Finance, Superior, Colorado. Previously he was Vice President, Fifth Third Bank (April 2004–March 2014); Vice President, National City Bank (1997–2003); Vice President, NBD Equipment Finance (1993–1997).

Education: The University of New Mexico - Robert O. Anderson School of Management; Bachelors of Science, Finance (1981–1983). Activities and Societies: Sigma Alpha Epsilon Fraternity. Michigan State University, Undergrad, Finance (1979–1981).Charlevoix High School. www.linkedin.com/pub/greg-leymon/13/611/b7

Stacey Mainiero named Chief Operating Officer at ZRG Partners, West Orange, New Jersey, a newly created position in the company, managing global operations for all ZRG offices. Larry Hartmann, CEO of ZRG Partners commented, “Coming off of two straight years of 35% revenue growth, it was time to elevate our management team with someone of Stacey’s global operations pedigree. Her experience aligns perfectly to our requirements as the fastest growing retained search firm in the world. Having just completed a meaningful acquisition in the first quarter and with more growth plans for 2014, her leadership will allow us to continue to grow in this market.” Previously she was Senior Director of Operations, North East Region, Korn Ferry International (February 2008 – February 2013); Assistant Controller, United Retail Group (2004–2007 ); Assistant Controller, Director of Disbursements, United Retail Group (2002–2004); Vice President, Corporate Financial Operations & Director of Accounting, Allied Office Supplies Inc. (1999–2002); Accounting & Finance Consultant Globe Mortgage America & Re/Max (1996–1999); Manager of Finance/Audits & Manager of Accounting Royalties, BMG Music (1993–1996). Education: The College of New Jersey, Bachelor of Science, Business Administration, Accounting, Finance
www.linkedin.com/in/staceymainiero

Ron Mitchell has been promoted to Executive Vice President of BancLease Acceptance Corporation; based in Irving Texas. He joined the firm January, 2009. From 1994, the leasing company he worked with merged as Ron worked his way up from regional marketing officer to vice-president to senior vice-president when Affiliated Corporate Services merged with First Commerce to become Banc Partners Leasing. He was responsible for originating all broker transactions on a national basis, actually making proposals to the internal credit committee and senior credit committee, making sure he was successful for his broker following. In 2002, the merger unwound and it was back to Affiliated Corporate Services, which the following year became Heritage Affiliated Corporate Services, and in 2005 was merged into Heritage Pacific Leasing, Fresno, California where he was the National Account Manager. He continued this, delivering a lot of business, approvals, until a day in November, 2007, when the entire sales force was told to go home, including the president and senior vice-president of the company. Ironically his longtime friend at Affiliated, Jim Lahti, now works with him at BancLease.

Bon Wier named Wholesale Account Manager at De Lage Landen; based in Austin, Texas. Previously he was Senior Financial Analyst, Economic Development Bank, Office of the Governor, State of Texas (March 2012–February 2014); Syndications Manager, Dell Financial Services (August 2005–July 2011); Manager Credit and Syndications, State and Local Government, Oracle Corporation (February 2004–August 2005 ); Regional Manager, Leasing Group, Inc., (1995–2004). Education: Texas State University-San Marcos, BS, Economics -Agriculture.
www.linkedin.com/pub/bon-wier/0/4b5/972

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Leasing Industry Help Wanted

 

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Inside Balboa’s Patrick “Evergreen” Byrne’s Head

(More on Balboa vs. Regents Capital Next Week
with some real nuggets)

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Leasing News Advisor 
Rosanne Wilson

Rosanne Wilson, CLP, B.P.B.

A long-time friend and supporter of Leasing News, Rosanne Wilson, CLP, B.P.B., joined the Leasing News Advisory Board in 2010.

Rosanne served two terms as president and one termas vice-president of the CLP Foundation. She has served on the CLP Foundation's Board of Directors for 6 years.

Rosanne most recently completed 5 years serving on the Board of Directors of the National Association of Equipment Leasing Brokers (NAELB); one year as a Director and four years as Treasurer. She remains Chair of the Membership Committee. She has been a Screener on the NAELB applicant screening program since 2008 and a CLP Special Projects committee member.

Rosanne has been a Certified Lease Professional for 15 years, serving the last two years as President of the CLP Foundation. She is also a “Best Practices Broker”, a Master Member of the NAELB, and an accredited member of the Better Business Bureau for 20 years. She currently serves as the Chair of the NAELB Membership Committee, as well as serving on the Screening Committee and the Funder Task Force. In addition, she is a 23 year member of the Beaverton Chamber of Commerce and is listed in the Who’s Who of Business Leaders. Rosanne enjoys mentoring brokers who are new to the industry as she believes in helping others become successful in this business and instill in them a strong sense of ethics.

Rosanne has been active in the equipment leasing industry since 1985. Rosanne founded 1st Independent leasing, Inc. in 1990 and is currently celebrating her 23nd year in business. Previously, she spent 12 years with Transamerica Financial Services and was the Branch Manager of the Portland, Oregon office.

She is married and has 2 children and 4 grandchildren. Her hobbies include travel with her husband, spending time with her family and 3 cats, and gardening.

Rosanne Wilson, CLP
1st Independent Leasing, Inc.
3800 SW Cedar Hills Blvd., Suite 165
Beaverton, OR 97005
(800) 926-0851 or Fax: (503) 626-1631
rosanne@1stindependentleasing.com 
"It's the Lease We Can Do"
www.1stindependentleasing.com

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2014 Leasing Association Conferences

 

March 20
Equipment Leasing and Finance Association
3th Annual IMN/ELFA Investor Conference
New York, NY
More Information is available at:
http://www.imn.org/structured-finance/conference/
The-13th-Annual-Investors-Conference-on-Equipment-Finance/Home.html

2013 Conference Report by Bruce Kropschot
http://leasingnews.org/archives/Mar2013/3_25.htm#nyc

Bruce Kropschot will be covering this
event again this year for Leasing News.

 

March 31-April 2
National Vehicle Leasing Association
Annual Conference
Westin La Paloma Resort
Tucson, Arizona

Event Schedule
http://www.nvla.org/images/scheduler.gif

Registration
https://www.nvla.org/register.php

"This year's program has a day and a half packed with sessions for Consumer and Fleet Lessors to grow their business and includes a full day of sessions for Lease Here Pay Here (LHPH). The LHPH track presents the critical information a dealer needs to evaluate and enter the LHPH business. 

"I have found events such as these to be invaluable. My company has reaped the benefits of the networking and relationships made at the 2013 NVLA conference. The McMahon Automotive Group, smartly re-branded, committed to social media as an active, integral part of our marketing efforts, and re-vamped how we qualify personnel for our frontline positions. The results of the conversations and relationships developed from the 2013 conference resulted in adding to our business in many ways as well as the bottom line. 

"I strongly urge those in the vehicle leasing industry to attend
the 2014 NVLA Conference."
P.J. McMahon, CVLE
National Vehicle Leasing Association, President

April 2-4
National Equipment Finance Association
2014 National Equipment Finance Summit
Scottsdale Resort & Conference Center
Scottsdale, Arizona

Full Information:
http://nefassociation.site-ym.com/events/event_details.asp?id=383559

Women in Leasing Luncheon, Wednesday April 2, 2014.
To be included in more details or to RSVP please contact Marci Slagle @ mslagle@varilease.com OR Katie Rorick @ krorick@varilease.com

 

AUTOMOTIVE ANNUAL CONFERENCE
April 14, 2014 I 7:00 AM – 5:00 PM I
Grand Hyatt New York, NYC

CONFERENCE SCHEDULE
- April 13, 2014: Networking Reception from 5:00 – 6:00 PM
- April 14, 2014: Sessions from 7:00 AM – 5:00 PM

SPEAKERS & SESSIONS
http://www.arnonline.org/aac_agenda

KEYNOTE SPEAKER
Robert Hollenshead, Founder and President, R. Hollenshead Auto Sales, 
BuyBook Technologies, and Universal Condition Report

REGISTRATION [40 Seats Remaining]
http://www.arnonline.org/aac_registration

Register by March 21 and receive $50 OFF.
To receive this offer, please contact ARN at 800.803.0274.

ATTENDEES
- 45% dealerships managers and principals
- 15% auto finance professionals
- 15% auto leasing professionals
- 25% vehicle remarketers

CONTACT
Automotive Resource Network (ARN)
P: 800.803.0274
E: hanan@arnonline.org
www.arnonline.org 

WEEK SCHEDULE
April 14: ARN Automotive Annual Conference
April 15: Auto Forum
April 16: New York Auto Show Preview Day
April 17: New York Auto Show Preview Day

April 23 - 25
2014 National Funding Conference
Chicago, IL

Schedule
https://www.elfaonline.org/cvweb_elfa/cgi-bin/eventsdll.dll/EventInfo?sessionaltcd=FUND2014

Pricing:
https://www.elfaonline.org/cvweb_elfa/cgi-bin/eventsdll.dll/EventInfo?sessionaltcd=FUND2014

Brochure:
http://www.leasingnews.org/PDF/AprilELFAConference2014.pdf

May 1 - 3
National Association of Equipment
Leasing Brokers 
2014 Annual Meeting
Caribe Royale Hotel
Orlando, FL

NAELB has negotiated a special group rate of $139/night for single/double or $159/night for king deluxe, from Wednesday, April 30 - Saturday, May 3.
https://aws.passkey.com/event/10434951/owner/186/home

Information:
http://www.naelb.org/NAELB/Events/2014_Annual_Conference.aspx

May 7 - 9
Association of Government Leasing and Finance 
AGL&F/ELFA Public Sector Finance Forum
Washington, DC

Information:
http://www.aglf.org/events/aglfelfa-public-sector-finance-forum

Hotel Reservation:
http://www.doubletreemagmile.com/

 

September 4-6
2014 Eastern Regional Meeting
Lord Baltimore Hotel
Baltimore, MD

September 10-12
Canadian Finance and Leasing Association
The Fairmont Chateau Whistler
Whistler, British Columbia

September 18-20
San Antonio Texas
To Be Announced

October 19-21
2014 53rd Annual Convention
Manchester Grand Hyatt
San Diego, CA

November 5-7
34th Annual AGLF Fall Conference
Loews Ventana Canyon
Tucson, Arizona

November 6 - 8
2014 Western Regional Meeting
Hyatt Regency Irvine
Irvine, CA

November 12 - 14
Commercial Finance Association
70th Annual Convention
Washington Marriott Wardman Park
Washington, D.C.

 

November 16 -17
NJ Expo Regional
Teaneck, New Jersey
(Sunday evening- All Day Monday)

CFA Related Conferences
http://www.leasingnews.org/PDF/CFAConferences_2014.pdf

CFA Network Calendar
http://www.leasingnews.org/PDF/CFAEventsCalendar_2014.pdf

ELFA ---2014 Schedule of Conferences, Workshops
and e-Learning Opportunities
http://www.leasingnews.org/PDF/ELFA2014ScheduleInfo_1212014.pdf

Top 50 credit unions grow in the face of new regulations

By Hina Nawaz and J. Daniel Young

A SNL Financial Feature Article

After several years of growth, the nation's credit unions saw the first drop in aggregate net income since 2008. Despite the heightened regulatory burdens facing the industry, credit unions continued to grow assets, loans and leases, and shares and deposits in 2013.

Aggregate net income at the nation's credit unions dropped to $8.22 billion in 2013 from $8.60 billion in 2012, according to SNL data. The credit union industry as a whole grew assets an aggregate 3.91% and grew loans and leases an aggregate 7.90% in 2013. At the same time, the 50 largest U.S. credit unions grew assets a median 3.29% and grew loans and leases a median 7.65%. Shares and deposits increased a median 3.53% at the top 50 and an aggregate 3.65% across all credit unions.

As credit unions look for growth, they must also contend with new regulations related to stress testing and capital, and continued fallout from the Dodd-Frank Act. State Employees' Credit Union CFO Mike Lord said there has been a "torrent" of regulations over the last few years that will impact the entire credit union industry. SECU is the nation's second-largest credit union, with $27.11 billion in assets in 2013.

A proposal that the NCUA released in 2013 would require credit unions with assets exceeding $10 billion to perform annual stress testing, similar to that of large banks. NCUA Board Chairman Debbie Matz said stress testing would be part of NCUA's "coordinated approach" to supervision of a changing industry with asset growth concentrated in large credit unions.

Even though credit unions are not subject to stress testing yet, SECU is taking a proactive approach to the proposed regulation. "We've done the stress testing over the years," Lord said. He said that SECU worked with the assumptions that the Federal Reserve laid out for banks.

Lord said SECU is also stress testing its data protection system. "We've spent a tremendous amount of time, effort and money to put people, processes and software into place to protect our member data," he said.

Only four credit unions had more than $10 billion in assets at year-end 2013. Navy Federal Credit Union is the largest, with $55.50 billion in assets in 2013. A Navy Federal representative told SNL via email that the credit union is monitoring the progress of the NCUA's stress testing proposal.

John Fairbanks, public affairs specialist at NCUA, told SNL that the NCUA board has yet to vote on the proposal. The proposal is not on the board's agenda but could be voted on as early as the March 20 meeting.

Boeing Employees Credit Union is the nation's fourth-largest credit union, with $11.90 billion in assets in 2013. BECU passed the $10 billion mark in June 2013, but the credit union's senior vice president of member strategies, Tom Berquist, told SNL that it started preparing to cross that threshold after the Dodd-Frank Act passed. BECU wanted to mitigate the financial impact of the Durbin Amendment by focusing on areas that would allow it to recoup that loss and replace the income without directly charging members. The credit union looked to other avenues, such as building an infrastructure that would allow it to support opportunities in small business banking.

"We realize that, yes, this income is going away," Berquist told SNL, "but we also think there is an opportunity to grow our business in a way that we can recoup that."

New regulations are also impacting credit unions below the $10 billion threshold. In January, the NCUA proposed a rule that would require riskier credit unions with more than $50 million in assets to hold more capital. The proposal would revise the risk weights for many of the NCUA's current asset classifications, with several items featuring weightings in excess of 100%.

"Under the proposed formula, 94 percent of credit unions would still be considered well-capitalized," Matz said in a statement. "The proposed rule is designed to ensure that credit unions taking excessively high risks will either reduce their risks or hold more capital to offset those risks."

In a Feb. 11 release, the National Association of Federal Credit Unions estimated that credit unions with assets between $50 million and $100 million will need to hold a total of $192 million more in additional reserves, while institutions with assets between $500 million and $1 billion will need to hold a total of $1.28 billion more in additional reserves. Credit unions with more than $1 billion in assets would need to hold an additional $3.47 billion. For all affected credit unions, it adds up to an estimated $6.3 billion in additional reserves, according to NAFCU.

"This rule as proposed will have unpredictable consequences for loan and share growth, as individual credit unions will need to adjust their balance sheets to meet the new requirements," David Carrier, chief economist and research director at NAFCU, said in the release. "Because credit unions cannot just raise capital from the open market, this cost will undoubtedly be passed on to credit union members."

Lord made a similar point, warning that if credit unions are required to raise more capital, it will come out of members' pockets. "That impacts our bottom line and credit unions don't go to the capital markets and sell stock to raise capital the way a bank does," he said.

A representative for Navy Federal said the credit union remains "well-capitalized, safe and sound" under the proposed risk-based capital rule. "Given our strong capital position, the changes do not affect our current business operations, nor do we anticipate them constraining our ability to serve our members in the foreseeable future. We will monitor the progress of this proposal while staying focused on serving our members," the representative said.

John Kenny Receivables Management • End of Lease Negotiations & Enforcement  • Fraud Investigations • Credit Investigations • Asset Searches  • Skip-tracing • Third-party Commercial Collections john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

 

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Pacific Electric Solar Offers 100% Financing
for Solar Projects through First US Finance LLC

VENTURA, Calif.--Pacific Electric Solar announced today a partnership with First US Finance LLC that will allow individuals and companies to finance 100% of their residential and commercial solar systems throughout Southern California with a variety of finance programs. The Ventura County based solar company specializes in roof top, ground mount and custom designed systems. They provide unique and custom applications for every roof type and design and install both on and off grid systems.

Pacific Electric Solar employs a highly skilled design team, enabling the company to maintain quality control from conception to completion. Their in-house experts determine the best system by performing a cost-free on-site evaluation, including a 12-month utility bill and shading analysis. Their engineers then determine the right equation for optimum efficiency to produce the perfect custom system for the customer’s energy usage while controlling job costs which further increases the customer’s overall savings. Utility bill savings from a well-designed solar installation will normally allow customers to break-even in as short as 7-10 years.

The number one emerging trend in residential rooftop solar is the shift from energy purchase agreements to solar loans that allow direct ownership of the system. According to Lester Salvatierra of First US Finance LLC, this sharply reduces the cost of capital because there is no buyout payment at the end of the finance term, at which point the owner has complete control of the system and enjoys 100% of the energy savings. For more information, please visit www.pacificelectricsolar.com, or contact Marlene Cohen at (805) 669-6445 for consultation.

First U.S. Finance LLC (FUSF) is an equipment financing company dedicated to providing customized equipment leasing and financing programs throughout the U.S.A. to meet clients’ growth objectives. FUSF can finance any commercial capital asset or expansion from $20,000 to $20,000,000 with terms from 3 to 7 years. They work with a variety of credit profiles and base approval decisions on both the credit and the collateral structure of the applicant. Contact Lester Salvatierra at (805) 217-9896 for more information or visit http://www.firstusfinance.com/.

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Cannabis Market Continues Rapid Growth
Adds Both Real Estate and Equipment Leasing

CORAL SPRINGS, Florida, The Medical Marijuana and Cannabis Industries forge ahead with indications of reaching a point of public acceptance as TV & radio ads are getting more air time.  The bustling industry shows no signs of slowing down as the following companies continue to forge on with lessening restrictions:  The CannaBusiness Group, Inc. (OTC: CBGI), Cannabis Science, Inc. (OTC: CBIS), GW Pharmaceuticals plc (NASDAQ: GWPH), MediSwipe, Inc. (OTC: MWIP) and Easton Pharmaceuticals Inc. (OTC: EAPH)

The CannaBusiness Group, Inc. CEO Michael Cummings commented, "One of our goals is to move up to a fully reporting SEC company, this will take some time with the auditor and legal counsel however, we are moving diligently towards that goal and hope to be fully reporting within 6 months on the OTCQB."    The Company recently acquired commercial property or land, they lease out the facilities for Agricultural, Industrial, Commercial and Retail, while managing the properties that it has acquired and leased out. The facility has a tenant that is a state licensed California medical marijuana cultivator. The land is 17.3 Acres located in Northern California with its own water source which has never been without water. The property is being purchased for $275,000 with restricted common stock and cash.

Cannabis Science, Inc. (OTC: CBIS) a U.S. Company specializing in cannabis formulation-based drug development and related consulting, applauds CNN's Dr. Sanjay Gupta for continuing to bring to public attention the medical value of cannabis to patients and the challenges that patients face in seeking cannabis-based life-savings treatments. Leading up to the airing of his new documentary, 'Weed 2', to be aired this evening on CNN at 10 p.m. EDT, Dr. Gupta published an article in which he states, among other things, that "I am more convinced than ever that it is irresponsible to not provide the best [medical] care we can, care that often may involve marijuana.  I am not backing down on medical marijuana; I am doubling down."  

GW Pharmaceuticals plc (NASDAQ: GWPH) announced recently that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation for Epidiolex(R), GW's product candidate that contains plant-derived Cannabidiol (CBD) as its active ingredient, for use in treating children with Lennox-Gastaut syndrome (LGS), a rare and severe form of childhood-onset epilepsy. Epidiolex is an oral liquid formulation of a highly purified extract of CBD, a non-psychoactive molecule from the cannabis plant. In November 2013, GW announced that the FDA had granted orphan drug designation for Epidiolex in the treatment of Dravet syndrome. Following the successful follow-on offering completed in January 2014, GW intends to advance a full clinical development program for Epidiolex for the treatment of both LGS and Dravet syndromes. Working with leading pediatric epilepsy specialists in the United States, GW expects to commence an initial Phase 2 clinical trial for Epidiolex in the second half of 2014. This trial, if successful, is expected to lead to Phase 3 pivotal trial programs in both Dravet syndrome and LGS intended to support New Drug Applications with the FDA.

MediSwipe, Inc. (OTC: MWIP), the leader in Compassionate Care Technology Solutions and products for the medicinal marijuana industry, has announced the initiation of up to a $500,000 credit facility to fund a broad range of cost-effective and flexible equipment leasing, real estate lease purchase agreements and financing programs for licensed retail, recreational and grow operations within the state of Colorado. The innovative financing concept will quickly allow qualified licensed individuals and existing operations to participate in a revolving credit line to purchase heavy agricultural equipment including lighting, CO2 and hydrocarbon extractors, real estate property and acreage zoned for the regulated cannabis industry. The flexible and easy access business loans will eliminate much of the red tape of traditional bank financing. The Company is presently in negotiation with its' first two properties within the state of Colorado.

Easton Pharmaceuticals Inc. (OTC: EAPH), a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic / cosmetic healthcare products, recently announced it nearing its limit on financing under regulation offerings. The company is now moving towards a Reg A filing to raise an amount up to $5,000,000per year from an accredited investor on a best efforts basis. In other events, Easton has closed on an agreement for Medical Marijuana. Under the current financing the company has been receiving, it is only allowed to raise up to $1,000,000 per year which was achieved sooner than expected. The company, in order to fulfill its financing needs is now moving forward with a Reg A filing with the securities and exchange commission to raise an amount up to $5,000,000 per year with an accredited investor on a best efforts basis. These funds are required for its various initiatives, which includes its medical marijuana program and its other line of therapeutic and healthcare products. Easton Pharmaceuticals announces it has come to terms on its negotiations with one of its proposed medical marijuana partners. The companies are now in the process of drafting a final agreement. Complete details to be disclosed on a subsequent press release to be announced when fully completed and executed.

The CannaBusiness Group, Inc. (OTCPink: CBGI) files 2013 Annual Disclosure Statement and prepares financials to be audited by PCAOB accountant and have attorney file form 10. http://www.thecannabusinessgroup.com   From the 1st quarter of 2014 and beyond, The CannaBusiness Group, Inc and its subsidiaries will file financials together on the OTC Markets and as soon as we have completed our audits and approved through the SEC, 10Q and 10K's will start to be filed with the SEC and CBGI will become a fully reporting public company.

To read the full press release, please click here: http://www.fnmprofiles.com/profiles-cbgi.html

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

 

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Fernando's View
By Fernando F. Croc

A historical comedy-drama ("The Monuments Men") and a dizzying animated feature ("The Lego Movie") come to theaters, while DVD releases offer dramas both acclaimed ("All Is Lost," "Blue Is the Warmest Color") and overlooked ("The Counselor").

In Theaters:

The Monuments Men (Columbia Pictures): George Clooney returns to the director's chair with this enjoyably seriocomic tale of art in wartime. Based on a true story, the film takes place during World War II, when the devastation of Nazi rule threatens to claim the artworks that are the cultural heritage of Europe. With the President's approval, Frank Stokes (Clooney) recruits a group of men to head behind enemy lines in Germany and return these masterpieces to their rightful owners. Unfortunately for him, this treasure hunt is complicated by the fact that these men aren't soldiers, but instead meek historians and curators who are much more comfortable in museum halls than out in the battlefield. With a remarkable supporting cast that includes Matt Damon, John Goodman, Bill Murray and Cate Blanchett, Clooney crafts a sturdy yarn that combines intriguing history with humor.

The Lego Movie (Warner Bros. Pictures): Taking a cue from the Pixar mavens behind the "Toy Story" franchise, inspired directors Phil Lord and Christopher Miller ("Clone High," "21 Jump Street") serve up a dizzying animated tale set in an universe run by the titular playthings. The story gets rolling when Emmett (voiced by Chris Pratt), a lonely worker barely noticed by those around him, finds himself involved in a malevolent plan hatched by Lord Business (Will Ferrell). Suddenly going from routine constructions to dealing with wizard prophecies, Emmett journeys between worlds with the help of Wyldstyle (Elizabeth Banks) and a group of Master Builders bent on overthrowing the villain. Using CGI to retain the feel of children's toys while pushing them to new realms of wit and imagination, this enormously funny and clever movie is a surprise treat for audiences of all ages.

Netflix Tip: Variously involved in just about every major comedy in the 1980s, Harold Ramis (1944-2014) left behind a legacy of laughter. So check out Netflix for a tribute of his funniest pictures, ranging from "Caddyshack" (1980) and "Ghostbusters" (1984) to "Groundhog Day" (1993) and "Analyze This" (1999).

On DVD:

The Counselor (Fox): When released in theaters, this stylish, often brutal thriller played mostly to empty theaters and negative reviews. Being now released in a special cut that restores important, previously cut footage, director Ridley Scott's ("Blade Runner," "Gladiator") pitch-black drama more than deserves a second look. Michael Fassbender stars as the titular counselor, a lawyer whose successful life takes a drastic turn after he gets involved with drug dealers south of the border. Through a middleman known as Westray (Brad Pitt), he falls in with Reiner (Javier Bardem), a powerful underworld figure with a ruthless girlfriend (Cameron Diaz) and connections to deadly Mexican cartels. When a deal goes awry, all involved must deal with deadly consequences. Written by Cormac McCarthy ("No Country for Old Men"), this is a stellar, disturbing, grimly juicy ride from beginning to finish.

All Is Lost (Lionsgate): After successfully crafting an ensemble drama with his debut film "Margin Call," director J.C. Chandor switches gears and serves up a one-man show in this expert, minimalist thriller. Robert Redford, in a twilight tour de force, plays the protagonist, an unnamed man who, while sailing alone in the Indian Ocean, wakes up to find his boat heading toward a brutal storm. Barely making it through alive, he now has to deal with a virtual catalogue of high seas dangers, ranging from marauding sharks to dwindling food. Moving out of "Margin Call’s" corporate offices and into wide open spaces, Chandor proves himself a skillful suspense engineer, pumping a potentially dry promise full of tension. Coupled with Redford’s nearly wordless, robustly soulful turn, this is an involving, haunting story.

Blue Is the Warmest Color (Criterion): The Palme d'Or winner at this year's Cannes Film Festival, this affecting, textured tale of young romance was one of last year's most hotly debated releases. Basically a duet between two characters, the plot chronicles the passionate, tumultuous relationship between teenage Adele (Adele Exarchopoulos) and bohemian artist Emma (Léa Seydoux) in France. Following a chance meeting, the reserved Adele tracks down the eccentric, blue-haired Emma, and an infatuation grows into an electric courtship that shakes her ideals down to their very foundations. Featuring a wealth of subtle, candid details as well as wondrously fresh performances from the two young actresses, director Abdellatif Kechiche's intimate drama is a simple yet bold portrayal of dizzying love. With subtitles.

Great Dane
Austin, Texas Adopt-a-Dog

Fiona
Female
Three Years Old
Black - With White

Fiona's Info...

“I am already spayed, housetrained, purebred, up to date with shots, good with kids, and good with dogs.”

Fiona's Story...

“Fiona is a 3 year old Great Dane. She is a "small" Dane. She is an inside pet. Gets along with other dogs. Great around kids. Spayed and current on vaccinations. Will make a great family pet.”

If interested in giving Fiona a new loving home, please fill out the adoption application on our wbsite.

Rescue Group: PAWS of Austin
E-mail: dogs@pawsofaustin.org
Website: http://www.pawsofaustin.org

Adoption Application:
http://www.pawsofaustin.org/public/onlineAdoptionApp.html

PAWS of Austin is not a business and we do not have operating hours. We are not a shelter. We operate from private foster homes. We do not have a location where you can go to see the dogs we have. We do have a mailing address.

PAWS Mailing Address: 7202 S. Brook Dr. Austin TX 78736

Adopt a Pet
http://www.adoptapet.com/

 

News Briefs----

Bank of America’s Revolutionary New Type of Account
--- Costs $5 a Month
http://time.com/20465/bank-of-americas-revolutionary-new-type-of-account-costs-5-a-month/

303 Deaths Seen in G.M. Cars With Failed Air Bags
http://www.nytimes.com/2014/03/14/business/gm-air-bag-failures-linked-to-303-deaths.html

Mark Zuckerberg tells Barack Obama he is 'frustrated' over US government surveillance
http://www.upi.com/Business_News/2014/03/13/Mark-Zuckerberg-calls-Obama-over-frustration-regarding-the-NSA/8491394745988

Job creation bumps mortgage rates higher
http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx?ic_id=Top_Financial%20News%20Center_link_1

Coinbase: Bitcoin's Future Bright Despite Mt. Gox Bankruptcy
http://www.boston.com/business/news/2014/03/12/coinbase-bitcoin-future-bright-despite-gox-bankruptcy/J8j9DFZfzHHSNQDoWDM7EO/video.html

Airlines hurt as Ukraine crisis lifts oil price
http://seattletimes.com/html/businesstechnology/
2023106763_apxairlinesoutlook.html

 

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--You May Have Missed It

Adopted Puppy Saves New Owners From Gas Leak
http://www.huffingtonpost.com/2014/03/12/puppy-saves-owners-gas-leak_n_4948688.html

[headlines]
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SparkPeople--Live Healthier and Longer

You Asked: How Many Calories Does Strength Training Burn?
http://www.sparkpeople.com/blog/blog.asp?
post=you_asked_how_many_calories_does_strength_training_burn

 

[headlines]
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Winter Poem

Beware the ides of March.

Men at some time are masters of their fates: 
The fault, dear Brutus, is not in our stars, 
But in ourselves, that we are underlings. 
But, for my own part, it was Greek to me. 
Think you I am no stronger than my sex, 
Being so father'd and so husbanded? 
These things are beyond all use, 
And I do fear them. 
Cowards die many times before their deaths; 
The valiant never taste of death but once. 
Of all the wonders that I yet have heard, 
It seems to me most strange that men should fear; 
Seeing that death, a necessary end, 
Will come when it will come. 

— Cæs. The ides of March are come. 
Sooth. Ay, Cæsar; but not gone. Act iii. Sc. 1. 

The Ides of March: In the Roman calendar the days of the month were not numbered sequentially. Instead, each month had three division days: kalends, nones and ides. Days were numbered from these divisions: e.g., IV Nones or III Ides. The ides occurred on the 15th of the month (or on the 13th in months that had less than 31 days). Julius Caesar was assassinated on this day in 44 BC. This system was used in Europe well into the Renaissance. When Shakespeare wrote "Beware the ides of March" in Julius Caesar his audience knew what he meant. Beware of what was to happen on March 15th.

 

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Sports Briefs----

Receiver Eric Decker agrees to five-year, $36.25 million deal with the New York Jets, leaving the Denver Broncos and Peyton...
http://msn.foxsports.com/nfl/story/eric-decker-new-york-jets-agree-five-years-36-million-dollars-15-million-guaranteed-denver-broncos-031214

New Orleans Saints trade running back Darren Sproles to Philadelphia Eagles
http://www.nola.com/saints/index.ssf/2014/03/
new_orleans_saints_running_bac_77.html

Kawakami: Reggie McKenzie is bombing as Raiders GM
http://www.contracostatimes.com/tim-kawakami/ci_25337268/kawakami-reggie-mckenzie-is-bombing-raiders-gm

Raiders add Tuck, Woodley to defense
http://www.sfgate.com/raiders/article/Raiders-add-Tuck-Woodley-to-defense-5316040.php

Best frienemies? 49ers to host one-time rival Walter Thurmond
http://blogs.sacbee.com/49ers/archives/2014/03/49ers-to-host-one-time-rival-walter-thurmond.html

How much did the 49ers make in 2013?
http://blog.sfgate.com/49ers/2014/03/13/how-much-did-the-49ers-make-in-2013/#21460-2

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[headlines]
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California Nuts Briefs---

Phone books arrive in Sacramento, but without the white pages
http://www.sacbee.com/2014/03/12/6231154/phone-books-arrive-in-sacramento.html

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“Gimme that Wine”

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

California grape crush, wine exports set records
http://www.capitalpress.com/article/20140311/ARTICLE/140319955/1318

Over 1,500 Attend 3rd Annual EWE
http://www.winebusiness.com/news/?go=getArticle&dataid=129549

Peter Mondavi Sr. to Celebrate Centennial Birthday
http://www.winebusiness.com/news/?go=getArticle&dataid=129555

San Diego Wine Wants Recognition
http://www.winesandvines.com/template.cfm?
section=news&content=129484

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Winery Atlas
http://www.carterhouse.com/atlas/\

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm