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Wednesday, May 8, 2024


Today's Leasing News Headlines

New Hires/Promotions in the Leasing Business
    and Related Industries
Broker Fair 2024 to be Kosher Catered
    The Metropolitan Pavilion, New York City, May 20th
Leasing and Finance Industry Help Wanted
  Excellent Compensation/Marketing Support
    Plus other openings for successful, growing funders
Navigating the Shift: How Banks and Funders
  Can Capitalize on Fintech’s Funding Crunch
    by Financial Technology Expert Alex Vasilakos
Leasing/Finance/Business Training - Updated
    to Learn the Industry and Help Place Their Deals
Financial and Sales Training
    Three Recommendations
Paul Bent Named 2024 Recipient of ELFA’s
    Edward A. Groobert Award for Legal Excellence
Terrier, Special Needs
    Long Beach, California  Adopt-a-Dog
Mediation
    By Paul Bent, Attorney-at-Law

News Briefs ---
U.S. Bancorp Promotes Gunjan Kedia to President
    Press Release
JPMorgan just gave itself an $8 billion boost
    typically out-earns all of its rivals
Rivian reports $1.4B first quarter loss
    EV maker says production shift to Illinois will save money
Penske Truck Rental Announces 2023 Top
    Moving Destinations  Houston, San Antonio Top 2
Caterpillar World's Leasing Mfg. Construction/Mining
    2023 Sales and Revenue $671 Billion
F.A.A. Is Investigating Boeing Over
    787 Dreamliner Inspection

You May Have Missed ---
The Private-Equity Deal That Flattened a Hospital Chain
    and Its Landlord

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months
Sales Make It Happen

Sports Briefs
   California News
    "Gimme that Wine"
 This Day in History
  SuDoku
   Daily Puzzle
    GasBuddy
     Weather, USA or specific area
      Traffic Live----
       Wordle

######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

[headlines]
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New Hires/Promotions in the Leasing Business
and Related Industries


Mark Bohntinsky was hired as Global Head of Credit, Gordon Brothers, Boston, Massachusetts. "Bohntinsky has nearly 30 years of experience in asset-based lending and leverage finance. Prior to joining Gordon Brothers, he was the head of asset management for asset-based lending at Truist Securities. He previously worked in senior roles at Monroe Capital and CIT in underwriting, product development and credit."
Source: ABfjournal


Kevin Bowman was hired as Chief Risk Officer, Prime Capital Group, Edmonton, Alberta, Canada. He is located in Kitchener, Ontario, Canada. Previously, he was President and COO, Harbour Edge  Commercial Finance Corporation, (December, 2016 - May, 2024). Full Bio:
https://www.linkedin.com/in/kevin-bowman-b08b4610/details/experience/
https://www.linkedin.com/in/kevin-bowman-b08b4610/


Michael Gay was hired as Senior Managing Director and Head of Sponsor Coverage, Ansley Park Capital, White Plains, New York. He is located in the San Francisco Bay Area. Previously, he was Executive Vice President and Senior Managing Director, Group Head, Sponsor Finance, Stonebriar Commercial Finance (November, 2018 - May, 2024). Full Bio:
https://www.linkedin.com/in/michaelbodengay/details/experience/
https://www.linkedin.com/in/michaelbodengay/


Debra Langvardt was hired as Regional Sales Manager, Manufactures Capital (a division of Commercial Credit Group, Inc.), Charlotte, North Carolina. She is located in Los Angeles, California. Previously, she was Senior Account Executive, Equipment Leasing Group of America, LLC. (May, 2022 - May, 2024); Business Development Officer, Arboretum Commercial Finance (February, 2021 - May, 2022); FVP Regional Director, East West Bank (April, 2018 - September, 2020); VP Business Relationship Manager, Chase (August, 2012 - April, 2018).
https://www.linkedin.com/in/debralangvardt/


Jim Roybal was hired as Vice President, Vendor Team Leader, Ascentium Capital,  Kingwood, Texas, a Division of Regions Bank.  He is located at their Phoenix, Arizona Office. Previously, he was Vice President, Lease Operations, Paramount Financial (February, 2008 - April, 2024); Founder and President, Note Nation, LLC (January, 2003 - February, 2008).
https://www.linkedin.com/in/jim-roybal-880317308/


Scott Tenley was hired as Portfolio Servicing Manager, OnPoint Capital LLC, New York City Metropolitan Area. He is located in Cincinnati, Ohio. Previously, he was Director of Portfolio Administration, JDR Solutions, Inc. (May, 2023 - March, 2024); Senior Portfolio Manager, EDT Asset Management, OnPoint Capital, LLC (September, 2021 - May, 2023). Full Bio:
https://www.linkedin.com/in/scott-tenley-85b50730/details/experience/
https://www.linkedin.com/in/scott-tenley-85b50730/


[headlines]
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Broker Fair 2024 to be Kosher Catered
The Metropolitan Pavilion, New York city, May 20th

Similar to deBanked CONNECT MIAMI 2024, Broker Fair 2024 in New York will be a Kosher catered event, courtesy of Foremost Caterers. This applies to food for both the May 20 conference and the pre-show party on May 19. The alcoholic beverages will be supplied independently from the respective venues.

The Broker Fair agenda can be viewed here:
https://brokerfair.org/2024-agenda/

Tickets are available here:
https://brokerfair.org/register


Publisher & Chief Editor: Sean Murray

[headlines]
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Navigating the Shift: How Banks and Funders
Can Capitalize on Fintech’s Funding Crunch
By Financial Technology Expert Alex Vasilakos

Fintech funding has witnessed a significant decline since 2021, marking a shift not necessarily towards a downturn but a stabilization. Such a trend opens up avenues for regional and community banks to enter the fintech partnership landscape.

Current market conditions, characterized by rising interest rates, have prompted investors to adopt a more cautious approach. Still, there are still abundant funds available for investment. In fact, unallocated venture capital funding soared to $566.61 billion in 2023 from $530.26 billion in 2022, according to S&P Global Market Intelligence and Preqin data.

As late-stage fintechs mature and prove their profitability, more banks are likely to leverage these technology solutions, particularly regional and community banks. For instance, almost half of the institutions using CRM, as per recent data from the American Bankers Association, believe there is room for adoption expansion and enhanced understanding of the technology they have already invested in.

Even with decreased funding, fintechs continue to play a pivotal role in the ecosystem by driving innovation and efficiency, meeting customer expectations, and delivering value. Both banks and fintechs can capitalize on this shift in the funding climate. Banks, in particular, can leverage their purchasing and investing power to create strategic opportunities with fintechs who need financial partners.

Another promising development is the rise of banks investing directly in fintech startups. Almost 500 credit unions invested in fintechs last year with about 30% reporting improved loan volume and productivity by 5% or more as a result. This shift illustrates the viability and potential value of such partnerships.

Despite the allure of new technologies like blockchain and AI, the financial industry values stable, robust technology that can anticipate and mitigate long-term challenges. Such technology solutions often pertain to back-office efficiencies, third-party compliance practices, and fraud prevention – areas where banks excel due to their day-to-day operational familiarity.

In conclusion, the decline in fintech funding has ushered in an era of stabilization that encourages careful, strategic investment. By forging partnerships with fintechs, banks can tap into innovation and efficiency, delivering greater customer satisfaction in an increasingly digitized banking landscape.


Alex Vasilakos

o: 518-727-7921 |  m: 518-727-7921  
|  t: @avasilakos |
web: www.vasilakosdesign.com


[headlines]
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Leasing and Finance Industry Help Wanted


[headlines]
--------------------------------------------------------------

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

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

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

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

Commercial Finance Academy
Global Leasing
Wheeler Leasing School



[headlines]
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Financial and Sales Training
Three Recommendations

These individuals act as a consultant in 75% or more of their main business, actually training staff or individuals of a leasing company.

Several hold classes, and most will travel to their client's premise.

Many of the associations also have financial and sales training classes for their members and non-members with a higher fee: http://leasingnews.org/associations.htm

Second Column: YCS - Year Company Started | YELB - Years in equipment Leasing Business

Name
City, State
Contact
Website
Leasing Association
YCS
YELB
(see above for meaning)
Geographic Area
Specialty
Adrian Miller
Port Washington, NY
Adrian Miller amiller@adrianmiller.com
516-767-9288
www.adrianmiller.com www.adrianmiller.com/blog/
1989
31
International
Highly results-driven, informative and enjoyable sales skills training programs  that will leave participants empowered for bottom-line success.  AMST guarantees a positive return on training time and investment. 

Open Advance
San Ramon, California
Steve Chriest
www.openadvance.com/contact/
925-263-2702
www.openadvance.com/

2000
38
International

Consultant. Training. Production.
Your training can be branded, delivered in workshops, accessed via our OA Cloud app. or housed in your LMS. Our objective is to help people learn faster, retain knowledge longer and promote critical thinking skills.

Wheeler Business Consulting, LLC
Fallstow, Maryland
Scott Wheeler, CLP
Scott@wheelerbusinessconsulting.com
410-877-0428
www.wheelerbusinessconsulting.com
2008
37
USA

Provide multiple educational products to individuals and companies engaged in the leasing/financing industry. Encourage & facilitate personal and corporate strategy building to promote efficiencies, increase productivity & future success.

 

[headlines]
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##### Press Release ############################

Paul Bent Named 2024 Recipient of ELFA’s
Edward A. Groobert Award for Legal Excellence

WASHINGTON, D.C.—The Equipment Leasing and Finance Association (ELFA) has awarded Paul Bent, Senior Managing Director at The Alta Group, the Edward A. Groobert Award for Legal Excellence. ELFA Legal Committee Chair Molly Simon, Senior Legal Counsel at DLL, presented the award to Bent on May 6 at the ELFA Legal Forum in Scottsdale, Arizona, in recognition of his significant contributions to the association and the equipment finance industry.

Bent is a recognized leader in the equipment finance industry who has been an active member of ELFA and a contributor to the association’s legal community for more than three decades. He is a past member of the ELFA Legal Committee, which is a member and staff resource on a wide range of national and international legal issues impacting the equipment finance industry. He also has participated in a number of subcommittees of the Legal Committee, including Equipment Finance Regulatory and Compliance, Amicus Curiae and Equipment Leasing & Finance Magazine.

In addition, Bent has served as an information resource for ELFA members regarding legal issues impacting equipment finance. He is a frequent speaker at industry events and conferences, including the ELFA’s Legal Forum and Annual Convention. He has written dozens of articles for industry trade publications including Leasing News, plus ELFA’s Equipment Leasing & Finance Magazine, the Equipment Leasing & Finance Foundation’s Journal of Equipment Lease Financing as well as Foundation reports.

Prior to his current role with The Alta Group, Bent served as legal counsel for an equipment finance firm specializing in tax benefit transfers, as CEO and General Counsel for a boutique corporate advisory firm, and as an expert witness in scores of cases involving equipment leasing and secured financing.

A U.S. Navy veteran, Bent was awarded the American Spirit Honor Medal and served as a satellite navigation specialist in the submarine service, Pacific fleet. He is an accomplished musician He was named Lawyer of the Year by the Long Beach (California) Bar Association in 2012 and is a Past President of the Ball/Hunt/Schooley Chapter of the American Inn of Court.

He was elected a Master of the Bench in the Long Beach chapter of the American Inns of Court, where he is a member of the Executive Committee and has served since 2005 as Inn Treasurer. He is a former Fellow of the International Academy of Mediators, was a member of the board and treasurer of the Southern California Mediation Association, and serves annually as a judge in the finals of the Southwestern Law School national negotiation competition.

He holds an A.B. degree cum laude in mathematics and computer science from the University of California, Los Angeles, and a J.D. degree from Southwestern University School of Law.

About the Award
The Edward A. Groobert Award for Legal Excellence is named for ELFA’s long-time Secretary and General Counsel Edward A. Groobert, who was active in the legal affairs of the association from the mid-1960s until his retirement in 2010.

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 580 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. For more information, please visit www.elfaonline.org.

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

[headlines]
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Terrier, Special Needs
Long Beach, California  Adopt-a-Dog

Travis Barker

ID 700565
Male
Senior
Location: Foster
Adoption fee $5.00

This pet loves to snuggle
Enjoys company of dogs
This dog enjoys relaxing
This pet walks well on a leash

After being picked up as a stray, this brave senior had to overcome medical obstacles due to the neglect he suffered. Now healed, it's clear his spirit remains intact. Travis Barker is blind and deaf, but that doesn't stop him from enjoying his leisurely, daily strolls and his spurts of happy, playful episodes that have him rolling around in his blankets. He loves his naps almost as much as he loves cuddling with people. He's affectionate and is happiest when he's sitting on the couch snuggled up to someone. Travis Barker seems to appreciate every kindness shown to him. He's a daily reminder of how resilient dogs are. Travis Barker is looking for a forever family that will be patient with him as he learns to navigate his new surroundings.

Long Beach Animal Care Services
--- Foster Care
7700, East Spring Street
Long Beach, California, 90815
PetFoster@longbeach.gov
562-570-4925

[headlines]
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Mediation
By Paul Bent, Attorney-at-Law
Principal, The Alta Group LLC

Originally Published in Leasing News April 25, 2008

Mediation is always non-binding and always completely confidential so the parties don’t have to worry that their statements or positions during the mediation will be used against them if there is no settlement. However, once they reach a settlement and sign an agreement, that agreement is just as binding as any other contract. In fact, many settlement agreements include very tough sanctions that automatically come into play if a party breaches the settlement agreement itself. (I just mediated and settled a case in which, if the borrower defaults on the settlement agreement itself, the lender can immediately go to court and automatically get a judgment against the borrower with no trial or other delays. This is called a “stipulated judgment,” and it gives the lender or lessor a lot of comfort that the borrower/lessee can’t just default again like he did on the original loan or lease.)

Regarding arbitration, this can be either non-binding (advisory) or binding, as chosen by the parties themselves before the hearing. As Terry says, in binding arbitration the arbitrator’s award can be filed in court and enforced as a judgment. Also note there are other providers of arbitration services besides the AAA, including the National Arbitration Forum (NAF) and JAMS. All have their own rules and all have panels of arbitrators to choose from in various areas of the law. (AAA arbitrators are not required to be lawyers, although many of them are. NAF arbitrators are all lawyers.) Usually, the parties can select the arbitrator from a list provided by the arbitration service – a “strike list,” from which the parties strike the ones they don’t like. There aren’t a lot of arbitrators who are experts specifically in leasing and secured lending, although there are usually enough that the parties can select someone they feel is well qualified. (E.g., I’m on both the AAA and the NAF panels, and all of my cases are in leasing or secured lending.)

One other thing to note. The parties have complete control of the process, whether mediation or arbitration. They can pick the mediator or arbitrator, they can select the provider, they can make the rules for the hearing, and they can decide how they want to hearing to be handled. The courts will honor almost anything they agree on as to rules and procedures, as long as they’re spelled out in the agreement. Therefore, it’s very important for lessors to make sure their lawyers or documentation specialists include complete language and rules in the lease agreement itself. Some arbitration provisions go on for several pages and lay out exactly how the process should go. (As just one example, I recently arbitrated a commercial lending dispute in which the loan agreement included, among many other things, detailed provisions for who should pay the arbitration fees and costs, and when and how they should be divided up.) Lessors should not hesitate to include as much detail as possible in the dispute resolution section of the lease agreement. That is almost always better than simply relying on the AAA rules or the Federal Arbitration Act, which don’t address specific financing issues at all.

Paul Bent, Arty,
Phone: 562-491-5000 
pbent@paulbent.attorney  
https://paulbent.attorney

[headlines]
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News Briefs

U.S. Bancorp Promotes Gunjan Kedia to President
     Press Release
https://ir.usbank.com/news-events/news/news-details/2024/U.S.-Bancorp-promotes-Gunjan-Kedia-to-president/default.aspx

JPMorgan just gave itself an $8 billion boost
    typically out-earns all of its rivals
https://finance.yahoo.com/news/jpmorgan-just-gave-itself-an-8-billion-boost-194043066.html

Rivian reports $1.4B first quarter loss
    EV maker says production shift to Illinois will save money
https://www.ajc.com/news/business/rivian-reports-14b-first-quarter-loss/MERO4T5ISRAN3CZPZPXWH4AZNI/

Penske Truck Rental Announces 2023 Top
    Moving Destinations  Houston, San Antonio Top 2
https://www.prnewswire.com/news-releases/penske-truck-rental-announces-2023-top-moving-destinations-302137780.html

Caterpillar World's Leasing Mfg. Construction/Mining
    2023 Sales and Revnue $671 Billion
https://www.prnewswire.com/news-releases/caterpillar-releases-2023-company-reports-302138127.html

F.A.A. Is Investigating Boeing Over
    787 Dreamliner Inspection
https://www.nytimes.com/2024/05/06/business/faa-boeing-787-dreamliner-inspections.html



[headlines]
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The Private-Equity Deal That Flattened a Hospital Chain
    and Its Landlord
https://www.wsj.com/finance/the-private-equity-deal-that-flattened-a-hospital-chain-and-its-landlord-3096747d?st=xnhb6zgxz8dlswg&reflink=desktopwebshare_permalink

[headlines]
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Sports Briefs---

Big Ten women's basketball schedule brings
    USC, UCLA to conference's easternmost
https://www.pressdemocrat.com/sports/?ref=menut schools

It sounds like the 49ers never seriously
    entertained an Aiyuk or Samuel trade
https://www.sfgate.com/49ers/article/brandon-aiyuk-deebo-samuel-no-draft-day-trade-19433597.php

Kansas City Chiefs’ Rashee Rice suspected
    downtown Dallas assault, police say
https://www.dallasnews.com/news/crime/2024/05/07/kansas-city-chiefs-rashee-rice-is-suspected-in-downtown-dallas-assault-police-say/


[headlines]
--------------------------------------------------------------


California News Briefs---

Santa Clara County comes up with the money
    to close the projected $250 million deficit
https://www.mercurynews.com/2024/05/07/santa-clara-county-comes-up-with-the-money-to-close-the-projected-250-million-deficit/

One of California’s largest home insurance companies
    is raising rates by 15% on average
https://www.mercurynews.com/2024/05/06/one-of-californias-largest-home-insurance-companies-is-raising-rates-by-15/

A tale of two downtowns in L.A.: As offices
    languish, apartments thrive
https://www.latimes.com/business/story/2024-05-02/a-tale-of-two-downtowns-office-towers-are-empty-but-apartments-are-full

Rock stars' former Bay Area beach house
    hits market for $15M
https://www.sfgate.com/local/article/rock-stars-sf-bay-beach-house-hits-market-19444184.php

California's second-largest reservoir hits
    100% of its total capacity
https://www.sfgate.com/bayarea/article/huge-california-reservoir-hit-total-capacity-19442880.php

2024 billionaires list: Here are the top
    20 richest Californians, according to Forbes
https://www.sfchronicle.com/california/article/top-20-richest-california-billionaires-list-19435610.php

My child had a 4.5 GPA. Here’s why she chose
    California community college
https://www.sfchronicle.com/opinion/openforum/article/community-college-student-loans-19431867.php

[headlines]
--------------------------------------------------------------

Gimme that Wine

 

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

Remove old-vine vineyards in Sonoma County?
    grower says ‘No way’
https://www.pressdemocrat.com/article/lifestyle/old-heritage-vineyards-california/

Santa Rosa chef, winemaker honored by YWCA,
    help raise $450,000 for survivors of domestic abuse
https://www.pressdemocrat.com/article/news/ywca-sonoma-county-auction-benovia-winery-spinster-sisters/                                                                   

California wine grape acreage dips in
    2023, could plummet in 2024
https://www.capitalpress.com/ag_sectors/orchards_nuts_vines/california-wine-grape-acreage-dips-in-2023-could-plummet-in-2024/article_900421ea-0bc7-11ef-bcba-3f1c5b41d125.html

Millennials and Gen X want a wine vacation,
    not an education
https://www.winebusiness.com/news/article/286810     

[headlines]
----------------------------------------------------------------

This Day in History

https://leasingnews.org/archives/May2023/05_08.htm#history

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

https://sudoku.com/

[headlines]

--------------------------------------------------------------

Daily Puzzle

How to play:
http://www.setgame.com/set/puzzle_frame.htm

Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm

[headlines]

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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx

[headlines]

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Weather

See USA map, click to specific area, no commercials

http://www.weather.gov/

[headlines]

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Traffic Live---

Real Time Traffic Information

You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live

--------------------------------

Wordle

https://www.powerlanguage.co.uk/wordle/

How to Play
https://www.today.com/popculture/popculture/wordle-know-popular-online-word-game-rcna11056

[headlines]

Features

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To Tell the Truth
TV Reviews by Kit Menkin
Ultimare Hire by Ken Lubin, ZRG Partners
View from the Top
Why I Became a CLP
Wine Reviews by Kevan Wilkinson


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