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Friday, May 10, 2024


Today's Leasing News Headlines

Pigs Get Fat, Hogs Get Slaughtered:
  The Unfortunate Tale Of Kris Roglieri
    By Ken Greene, Leasing News Emeritus
New Hires/Promotions in the Leasing Business
    and Related Industries
Leasing and Finance Industry Help Wanted
    Excellent Compensation/Marketing Support/Work
Self-Accountability
    Sales Makes it Happen by Scott Wheeler, CLFP
Funders Taking "New" Broker Business List
    Four Do Not Require that Brokers Be Licensed
NEFA Philanthropy Committee Raises Over $30,000
    for Laura’s House at Karaoke Tsunami Event
Mother's Day Movie Recommendations
    By Fernando Croce
Hound/Golden Retriever
    Yreka, California  Adopt-a-Dog
Six Types of Bankruptcy
    By Ken Greene,  Esq., Leasing News Emeritus

News Briefs ---
Stock market today: Dow pops for 7th straight day
    as S&P 500 climbs back above 5,200
World's record-breaking temperature streak
    extends through April
Google quits on huge, longtime San Francisco
    office in premium location

You May Have Missed ---
These new managerial cities are the true winners
      of remote work, and more

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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Pigs Get Fat, Hogs Get Slaughtered:
   The Unfortunate Tale Of Kris Roglieri
     By Ken Greene, Leasing News Emeritus
 


Kris Roglieri
Founder and CEO
Prime Capital Lending
Commercial Capital Training Group
National Alliance of Commercial Loan Brokers

These are facts, not mereallegations. As of the date of this article, at least 13 lawsuits, criminal investigations, and bankruptcy cases are piling up against Kris Roglieri, his associates, and his numerous entities. The press has pegged the claims against him at more than $125 million against virtually no assets (in this country, at least).

The litany of accusations against Roglieri, including the National Alliance of Commercial Loan Brokers (NACLB), Prime Capital Ventures, Commercial Capital Training Group, 405 Motorsports, Berone Capital Equity Finance Marketing Group, Kimberley Humphrey, FUPME, LLC, and Tina Roglieri, is staggering: fraud, RICO, wire fraud, embezzlement, theft, breach of contract, involuntary bankruptcy, and more. Roglieri himself has been personally charged with felony weapon possession. His once lavish collection of vintage car, watches and art, including a $100k Warhol print of John Gotti, is now under the auspices of a bankruptcy judge, trustee, and receiver.

The pressing questions remain: the source of funds for those extravagant assets, their legitimacy, and Roglieri's fate. More troubling is the slim prospect of creditors recovering their funds. These questions, though seemingly rhetorical, are at the heart of this complex case, adding a layer of suspense and intrigue to an already complex situation.

In a move that has raised eyebrows and sparked numerous creditor objections, Roglieri has retained a criminal attorney to represent him in the bankruptcy case. This is an unusual and potentially significant development, one that may hold the key to understanding Roglieri's strategy and the direction these cases may take.

Some of the opinions expressed herein are those of the author, formed from almost half a century of experience in investigating fraud. Note that much of the following information has been taken from judicial pleadings, which are not the same as facts, as published in PACER (which is open to the public).

Roglieri is in civil and criminal hot water. Unless he has money stashed away in the Caymans, his creditors/victims will never be repaid. I don’t know the current rate for making license plates in federal prison, but I doubt it will yield $125 million.

Another obvious question is how Roglieri managed to do this. He utilized several schemes, a few repeatedly, which seemed to be working for him. For instance:

  1. In the Onward Holding, LLC vs. Prime Capital/Roglieri case, Onward alleged that Prime and Brandless entered into a Business Expansion Line of Credit (LOC) with Prime to obtain a $107 million line of credit. The LOC required Brandless to deposit $20 million with Prime to establish “an interest reserve account” to make interest payments under the LOC. Onward and Brandless transferred $20 million to Prime. The $107 million LOC never materialized. Prime repaid $16 million of the $20 million deposit, leaving a claim of $4 million, together with claims for consequential damages exceeding $50 million and punitive damages.

  2. 1800 Park Avenue vs. Roglieri (adversary proceeding within the Chapter 11 case): 1800 Park sought financing of approximately $100 million to develop a commercial egg production facility. They were introduced to Prime and Roglieri. Prime’s website indicated they had made “over $10 Billion in Transactions”. As it turned out, Prime was not even registered to do business in New York. To induce 1800 to work with Prime, Roglieri created a YouTube video touting an alleged $188 million to ALUX properties, which, according to 1800, was a complete fraud. The footage contained other misrepresentations, including a $2.3 billion project in Dubai. Like the Brandless transaction, Prime required payment of $26,277,562 to fund the $105 million loan they needed. 1800 instead agreed to send $5 million so as not to lose its $105 million funding. Unbeknownst to 1800, Prime was now in bankruptcy. They demanded the return of their $5 million to no avail.

  3. Compass-Charlotte 1031, LLC vs. Prime Capital Ventures: The same theme emerges. Prime promised third parties substantial loans conditioned upon their sending 20% of the loan to Prime, to be allegedly used for interest payments on the loan itself. The 20% payments were made, but no loans were made thereafter.

Rather than repeat the allegations of the ten or so other lawsuits and claims with very similar themes, let’s take a look at some other interesting aspects of Roglieri’s lifestyle by way of explaining what happened to all that money and who this man is:

  • Roglieri owns a secluded home on 14 acres in Queensbury, New York, valued at 1.2 million.  
  • He owns a $2 million watch, 17 sports cars (4 Ferraris, a Lamborghini, a Maserati, and 10 Mercedeses), private jets, and a $3 million home in Virginia Beach, VA.
  • He owes millions of dollars of unpaid legal and tax bills.
  • He owes $436k debt to Caesars from the last NACLB event.

And, if you are interested in the man, his lifestyle and or character, consider this:

  • There are potential felony weapons charges pending after an AR-15 style assault rifle and 32-cartridge magazine were found in his home.
  • There are felony drug possession charges pending against Roglieri’s associate Kimberly Humphrey.
  • RICO/racketeering and wire fraud charges are pending against Roglieri personally
  • He has retained a criminal attorney in a bankruptcy case, although there are no criminal proceedings pending in the bankruptcies. It is highly unusual and has drawn many objections from creditors. This, I believe, does not relate to the weapons charges as much as the felony fraud claims. That is simply speculative at this point. Suffice it to say it is odd.

These cases will take years to unfold if ever. I could be wrong, but is my opinion that Roglieri is going to prison. This is a modern-day Ponzi scheme with many twists and turns. It is not going to be resolved for quite some time.


Ken Greene    
Law Office of Kenneth Charles Greene
5743 Corsa Avenue, Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
www.kengreenelaw.com


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


Jason Alves was promoted to Senior Vice President, Private Equity, Wingspire Equipment Finance, Tustin, California. He joined Inspire June, 2018 as Vice President of Private Equity. Full Bio: https://www.linkedin.com/in/jasonalves1/details/experience/


Elizabeth Brumbach was hired as Account Special, Midmark Corporation, Versailles, Ohio. She is located in West Chester, Pennsylvania. Previously, she was Business Analyst, Axalta (August, 2019 - April, 2023). She joined DLL May, 2016, Portfolio Officer, promoted Booking and Funding Analyst (January, 2018 - August, 2019).
https://www.linkedin.com/in/elizabeth-brumbach-733455a3/


Brian Gebhardt was promoted to Vice President, First American Equipment Finance, Rochester, New York. He joined First America as Assistant Vice President (May, 2021 - May, 2024). Previously, he was in Purchasing, Wilbert's Inc. (February, 2019 - February, 2021); Sales Representative, Jostens (September, 2014 - April, 2017).
https://www.linkedin.com/in/brian-gebhardt-a566b8155/


Jeff Mitchell was hired as Managing Director, COO, Aegis Business Credit, Tampa, Florida.  Previously, he was EVP, Middle Market Banking, Woodforest National Bank (March, 2022 - May, 2024);  Senior Vice President, Business Development, Crestmark, a division of MetaBank (March, 2021 - March, 2022); Senior Vice President, Middle-Market & Corporate Bank, Woodfords National Bank (June, 2017 - March, 2021); Senior Vice President, Business Development, Bibby Financial Services, USA (August, 2016 - June, 2017).
https://www.linkedin.com/in/jeff-mitchell-0011am10/


Steve Mosley was promoted to Director of Sales, LEAF Comeercial,  Office Products Group, Moberly, Missouri. He is located in Greenville, North Carolina. He joined LEAF September, 2020,  Account Executive, Office Equipment Leasing.  Previously, he was Relationship Manager, Equipment Leasing, TIAA Bank (July, 2013 - August, 2022. Full Bio:
https://www.linkedin.com/in/stevemosley1/details/experience/
https://www.linkedin.com/in/stevemosley1/


Fernando Rodriquez was promoted to  Director Vendor Sales at Maxim Commercial Capital, LLC., Los Angeles, California . "In this role, Rodriguez manages vendor relationships, business origination, and sales for Maxim’s Truck and Equipment Financing divisions." He joined Maxim February, 2021, as Outside Vendor Sales Manager.
https://www.linkedin.com/in/fernando-rodriguez-260591a3/


Thomas "Tom" White was hired as Senior Account Manager, Middle Market, Summit Funding Group, Inc., San Ramon, California. Previously, he was Vice President, Executive Sales Officer, Flagstar Financial & Leasing LLC. (October, 2022 - April, 2024); Vice President of Sales, Peoples Capital & Leasing (March, 2020 - October, 2022); Vice President, Wells Fargo Equipment Finance (February, 2015 - March, 2020) Full Bio:
https://www.linkedin.com/in/thomaswhite23/details/experience/
https://www.linkedin.com/in/thomaswhite23/


[headlines]
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Leasing and Finance Industry Help Wanted


[headlines]
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Self- Accountability
Sales Makes it Happen by Scott Wheeler, CLFP

The disparity between average producers and top producers continues to widen. Top producers are accountable to themselves. They measure their most productive activities. They focus on attracting, winning, and funding transactions generated from "key" accounts. A top producer shared the following:

  • How many calls are made each day is important. But what matters more is how many "great" conversations you have with actual decision-makers on a daily basis.
  • A large database of end-users and vendors is nice. But what matters more is how many prospects in the database have been contacted in the last 60 days and how many vendors and end-users you have funded a transaction within the last 90 to 120 days.
  • Generating applications is a measurement of effort. But what matters more is the percentage of applications which are actually funded. The funding ratio reflects the efficiency of those efforts. The funding ratio reflects an originator's ability to align her sales efforts with her "real" funding capabilities. In the words of Larry S., "Any originator can find a deal; it takes real talent to attract, win, approve, and fund a transaction which will pay promptly for the full term."
  • Having a strong production month is encouraging. But what matters more is a consistent trend of posting top numbers for several quarters or years. Consistent production is a by-product of short-term actions combined with long-term preparations.

This top producer shared that her success in exceeding her company's measured targets is a result of her having her own matrices. She perceives the company's goals as minimum objectives. Her goals are at least 50% higher. She is 100% self- accountable.

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com

Sales Makes it Happen articles:
http://www.leasingnews.org/Legacy/index.htm


[headlines]
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Funders Taking "New" Broker Business List
Four Do Not Require that Brokers Be Licensed

BSB Leasing, Inc.
Bankers Capital
C.H. Brown Company
Forum Financial Services
TimePayment Corp.

The following “funders” have informed Leasing News they will consider business from “new” third party originators.  Many companies require a certain length of time in business and other requirements, such as a specific volume of business.  These “funders” will consider submissions from those new in the leasing and finance business:

Name
In Business Since
Contact
Website
Leasing Association
Employees
Geo
Area
Dollar
Amount
Business Reports
A
B
C
D
E

BSB Leasing, Inc.
1992 Colorado, Hawaii
Don Meyerson, Pres. 
DMyerson@bsbleasing.com
Steve Crane, CLFP
VP, Commercial Division
scrane@bsbleasing.com
www.bsbleasing.com
NAELB
(click here for further description)

16
National

$10,000 Minimum
Application Only to
$250,000 Financial
Statement Transaction
Up to $1MM Business
Loans Up to $500K

Y
N
N
Y
Y
Bankers Capital
1990
James Aiksnoras
Vice President Sales & Marketing
508-351-6000
Jamesa@bankers-capital.com
www.bankers-capital.com
AACFB, NEFA
(footnote)
6
National
$40,000 +

Y

Y
N
N
N
C.H. Brown Company
a Subsidiary of Platte Valley Bank
Wheatland, Wyoming
Kit West
Business Development
Director/Broker Relations
(307) 241-7005
kwest@chbef.com
www.chbef.com 
AACFB, NEFA, & NAFA
(National Aircraft
Financing Association)
(click for more info)
23
National
$15,000 minimum*
 
Y
N
Y*
N
N
Forum Financial Services, Inc.
1996
Tim O'Connor
972.690.9444 ext. 225
tim@forumleasing.com
240 Lake Park Blvd. Suite 112
Richardson, TX 75080
www.forumleasing.com
AACFB, ELFA, NEFA
7
Nationwide
$50,000 - $1.5 million (Our average size transaction is $250,000. Preferred range $100,000 - $500,000)
NR
N
N/R
N/R
N/R
Timepayment Corp
Burlington, Massachusetts
1989
Mark Sheehan
Vice President & General Manager, Capital Markets
and Strategic Partnerships
Mark.Sheehan@timepayment.com
781-994-4836
www.timepayment.com/lease-brokers
AACFB, ELFA, NEFA
(Footnote)
175
National
$500 to
$1 million
 
Y
N
N
Y
Y

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen


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

NEFA Raises Over $30,000 for
Laura's House at Karaoke Tsunami Event

The National Equipment Finance Association (NEFA) is pleased to announce the tremendous success of the Karaoke Tsunami charity event at the 2024 Spring Conference held in Huntington Beach, CA. The event, held on March 25th, raised over $30,000 in support of Laura's House, a non-profit organization committed to aiding victims of domestic violence.

Attendees of the NEFA Spring Conference came together for a night of karaoke, turning the stage into a sea of voices from stirring ballads to upbeat classics. It was a wonderful night of fun, laughter, and joy as NEFA members took the mica to showcase their talents while supporting a vital cause.

Laura's House, a recognized leader in the field of domestic violence intervention and prevention, provides shelter, counseling, legal advocacy, and educational programs to empower survivors and break the cycle of abuse. The funds raised at Karaoke Tsunami will contribute to the organization's ongoing efforts to offer safety, support, and hope to individuals and families in need.


Sean Scampton, Chairperson of the NEFA Philanthropic Committee, said, “ Laura’s House is an incredible organization, and they deserve every resource in their mission to support domestic violence survivors.

"I speak for our committed, passionate team of equipment finance professionals when I say it is an honor to support and promote their efforts. I have never been prouder to be a member of our NEFA community.”


Margaret Bayston, CEO and Executive Director of Laura's House, said, ‘"We are deeply grateful to the NEFA Philanthropic Committee for their incredible support and enthusiasm at the Karaoke Tsunami event.

 “As we commemorate our 30th anniversary, this generous contribution of over $30,000 is not just a donation; it’s a lifeline that empowers us to continue our mission. Every dollar raised helps us provide vital services and support to survivors of domestic violence, offering them safety, hope, and a chance at a new beginning. The commitment shown by NEFA and its members is a powerful reminder of the critical role the community plays in creating a violence-free future.”

The success of Karaoke Tsunami underscores the NEFA community's commitment to making a positive impact beyond the financial industry. By harnessing the collective power of music and philanthropy, NEFA members have demonstrated their dedication to creating meaningful change in the world.

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


[headlines]
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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

With Mother’s Day just around the corner, we would like to offer a handful of recommendations to celebrate with the entire family. So hit your streaming queue and get a hearty fill of cinematic mother love.


Mrs. Miniver (1942): Motherhood faces the threat of war in this Oscar-winning classic from director William Wyler (“Ben Hur”). Greer Garson won a Best Actress Academy Award for her role as the eponymous British matriarch, struggling to maintain a sense of order and family in the midst of military danger. When husband Clem (Walter Pidgeon) joins other volunteers to help with the Dunkirk evacuation, she must protect their children while World War II brings on constant bombing raids—including one which lands a wounded German soldier right into her household. Can she hold the Miniver fabric together from perils both great and small? Made with Wyler’s characteristic meticulous care and a cast that includes Theresa Wright and Dame May Whitty, this vintage morale-booster still endures as affecting drama.

Postcards from the Edge (1990): Meryl Streep is at her best in this caustically funny adaptation of Carrie Fisher’s autobiographical novel, which re-teams her with her “Silkwood” director, Mike Nichols. Streep stars as Suzanne Vale, a Hollywood actress struggling to make a comeback after a stint in rehab for drug addiction. The film follows her relationships with various people, including a sleazy studio producer (Dennis Quaid), a no-nonsense director (Gene Hackman), and a smitten doctor (Richard Dreyfuss). Above all, there’s her mother, Doris (Shirley MacLaine), a boozy, overbearing showbiz star with a history of emotionally manipulating her daughter. To overcome her troubles and return to the spotlight, Suzanne must resolve her thorny past with her mother. The bittersweet results deftly walk the line between tragedy and comedy.

Freaky Friday (2003): Jamie Lee Curtis and Lindsay Lohan are delightful in this hugely entertaining comedy from director Mark Waters (“Mean Girls”). A remake of the 1976 Disney fantasy, the story centers on a very different mother and daughter duo. Anna (Lohan) is an aspiring musician going through the pangs of adolescence, while her mother Tess (Curtis) is a widowed psychiatrist confused by her daughter’s moods. When they wake up one morning to realize that they’ve magically switched bodies, each must go along and impersonate the other until a cure is discovered. As they navigate the complicated terrain of work and school, they gradually develop a deeper understanding of each other. Improving on the original thanks to the game performances, this is a clever, energetic family treat.

20th-CenturyWomen (2016): Excellent ensemble acting distinguishes this nostalgic, 1970s-set comedy-drama from writer-director Mike Mills (“Beginners”). Mills’ stand-in is Jamie (Lucas Jade Zumann), a shy teenage boy fascinated by the strong women in his life. They include his divorced mom Dorothea (Annette Benning), a young colleague named Julie (Elle Fanning), and an eccentric artist named Abbie (Greta Gerwig). With fluidity, patience, and generosity, the focus roams from one character to another, creating a flowing mosaic of unique personalities as well as a snapshot of a decade coming to an end. The result is an emotionally rich and satisfying mood piece that brings memories vibrantly to life. With a cast that also includes Billy Crudup, Alison Elliott and Alia Shawkat, it pushes beyond standard coming-of-age clichés.

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

[headlines]
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Hound/Golden Retriever
Yreka, California  Adopt-a-Dog

Chile

Male
Birthdate 9/1/2023 (not exact)
Color: Red/Golden/Orange
Chestnut with White
Modern Energy Level
Exercise Needed: Moderate
Needs Training
Grooming: Low
Indoor and outdoor
Microchipped
Adoption Fee: $300

More about Chile
Good with cats
Good with dogs
Good with kids
Good with adults: All

Rescue Ranch puppies are raised through our puppy foster program. They will have met adults, children, often other dogs, maybe cats. 16-week or older puppies will have taken part in our "Reading to Rescue Pups" program and attended many events. When they are at least 8 weeks old, puppies are given a wellness exam by a licensed veterinarian.

Rescue Ranch
(530) 842-0829
2216 Oberlin Road
Yreka CA 96
info@rrdog.org097
https://rrdog.org/


[headlines]
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Six Types of Bankruptcy
By Ken Greene, Legal Emeritus

Bankruptcy Code, located at Title 11 of the United States Code:

Chapter 7: basic liquidation for individuals and businesses; also known as straight bankruptcy; it is the simplest and quickest form of bankruptcy available.

Chapter 9: municipal bankruptcy; a federal mechanism for the resolution of municipal debts.

Chapter 11: rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets; known as corporate bankruptcy, it is a form of corporate financial reorganization which typically allows companies to continue to function while they follow debt repayment plans. Since August 23, 2019, there is also a Small Business Reorganization Act for business debts with debts up to $2,725,625. Unlike the normal Chapter 11 process, the debtor remains in greater control of its business and the requirements for confirming a plan are less stringent.

Chapter 12: rehabilitation for family farmers and fishermen;

Chapter 13: rehabilitation with a payment plan for individuals with a regular source of income; enables individuals with regular income to develop a plan to repay all or part of their debts; also known as Wage Earner Bankruptcy.

Chapter 15: ancillary and other international cases; provides a mechanism for dealing with bankruptcy debtors and helps foreign debtors to clear debts.

While bankruptcy cases are always filed in United States Bankruptcy Court (an adjunct to the U.S. District Courts), bankruptcy cases, particularly with respect to the validity of claims and exemptions, are often dependent upon State law. State law therefore plays a key role in many bankruptcy cases and it is often not possible to generalize bankruptcy law across state lines.

Generally, a debtor declares bankruptcy to obtain relief from debt, and this is accomplished either through a discharge of the debt or through a restructuring of the debt. Generally, when a debtor files a voluntary petition, his or her bankruptcy case commences.

The most common types of personal bankruptcy for individuals are Chapter 7 and Chapter 13. As much as 60% of all U.S. consumer bankruptcy filings are Chapter 7 cases. This has steadily decreased since the enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA)in 2005. Corporations and other business forms file under Chapters 7 or 11.

In Chapter 7, a debtor surrenders his or her non-exempt property to a bankruptcy trustee who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. In exchange, the debtor is entitled to a discharge of some debt; however, the debtor will not be granted a discharge if he or she is guilty of certain types of inappropriate behavior (e.g. concealing records relating to financial condition) and certain debts (e.g. spousal and child support, some student loans, some taxes) will not be discharged even though the debtor is generally discharged from his or her debt. Many individuals in financial distress own only exempt property (e.g. clothes, household goods, and an older car) and will not have to surrender any property to the trustee. The amount of property that a debtor may exempt varies from state to state. Chapter 7 relief is available only once in any eight-year period.

Generally, the rights of secured creditors to their collateral continue even though their debt is discharged.

For example, absent some arrangement by a debtor to surrender a car or "reaffirm" a debt, the creditor with a security interest in the debtor's car may repossess the car even if the debt to the creditor is discharged.

The 2005 BAPCPA amendments to the Bankruptcy Code introduced the "means test" for eligibility for chapter 7. An individual who fails the means test will have his or her chapter 7 case dismissed or may have to convert his or her case to a case under chapter 13.

Generally, a trustee will sell most of the debtor's assets to pay off creditors. However, certain assets of the debtor are protected to some extent. For example, Social Security payments, unemployment compensation, and limited values of your equity in a home, car, or truck, household goods and appliances, trade tools, and books are protected. However, these exemptions vary from state to state. Therefore, it is advisable to consult an experienced bankruptcy attorney.

In Chapter 13, the debtor retains ownership and possession of all of his or her assets but must devote some portion of his or her future income to repaying creditors, generally over a period of three to five years. The amount of payment and the period of the repayment plan depend upon a variety of factors, including the value of the debtor's property and the amount of a debtor's income and expenses. Secured creditors may be entitled to greater payment than unsecured creditors, who often receive negligible payments pursuant to a Chapter 13 plan.

Relief under Chapter 13 is available only to individuals with regular income whose debts do not exceed prescribed limits. If you're an individual or a sole proprietor, you are allowed to file for a Chapter 13 bankruptcy to repay all or part of your debts. Under this chapter, you can propose a repayment plan in which to pay your creditors over three to five years. If your monthly income is less than the state's median income, your plan will be for three years unless the court finds "just cause" to extend the plan for a longer period. If your monthly income is greater than your state's median income, the plan must generally be for five years. A plan cannot exceed the five-year limitation.

In contrast to Chapter 7, the debtor in Chapter 13 may keep all of his or her property, whether or not exempt. If the plan appears feasible and if the debtor complies with all the other requirements, the bankruptcy court will typically confirm the plan and the debtor and creditors will be bound by its terms. Creditors have no say in the formulation of the plan other than to object to the plan, if appropriate, on the grounds that it does not comply with one of the Code's statutory requirements.

Generally, the payments are made to a trustee who in turn disburses the funds in accordance with the terms of the confirmed plan, although some payments, particularly secured obligations, may be made directly to the creditor.

When the debtor completes payments pursuant to the terms of the plan, the court will formally grant the debtor a discharge of the debts provided for in the plan. However, if the debtor fails to make the agreed upon payments or fails to seek or gain court approval of a modified plan, a bankruptcy court will often dismiss the case on the motion of the trustee. Pursuant to the dismissal, creditors will typically resume pursuit of state law remedies to the extent a debt remains unpaid.

In Chapter 11, the debtor retains ownership and control of its assets and is re-termed a debtor in possession ("DIP"). The debtor in possession runs the day-to-day operations of the business while creditors and the debtor work with the Bankruptcy Court in order to negotiate and complete a plan. Upon meeting certain requirements (e.g. fairness among creditors, priority of certain creditors) creditors are permitted to vote on the proposed plan. If a plan is confirmed the debtor will continue to operate and pay its debts under the terms of the confirmed plan. If a specified majority of creditors do not vote to confirm a plan, additional requirements may be imposed by the court in order to confirm the plan.

Chapter 7 and Chapter 13 are the efficient bankruptcy chapters often used by most individuals. The chapters which almost always apply to consumer debtors are chapter 7, known as a "straight bankruptcy", and chapter 13, which involves an affordable plan of repayment. An important feature applicable to all types of bankruptcy filings is the automatic stay. The automatic stay means that the mere request for bankruptcy protection automatically stops and brings to a grinding halt most lawsuits, repossessions, foreclosures, evictions, garnishments, attachments, utility shut-offs, and debt collection harassment.

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News Briefs

Stock market today: Dow pops for 7th straight day
    as S&P 500 climbs back above 5,200
https://finance.yahoo.com/news/stock-market-today-dow-pops-for-7th-straight-day-as-sp-500-climbs-back-above-5200-200020212.html

World's record-breaking temperature streak
extends through April
https://www.yahoo.com/news/worlds-record-breaking-temperature-streak-020313598.html

Google quits on huge, longtime San Francisco
   office in premium location
https://www.sfgate.com/tech/article/google-quits-spear-tower-office-19449020.php


[headlines]
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These new managerial cities are the true winners
      of remote work, and more
https://www.washingtonpost.com/business/2024/04/26/flushing-stinkbugs-managerial-cities/

[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]
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California News Briefs---

Federal aid helped support California community college     
students through pandemic, report says
https://www.courthousenews.com/federal-aid-helped-support-california-community-college-students-through-pandemic-report-say

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Gimme that Wine

 

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

Exclusive Napa Valley Barrel Auction Invites Guests  Sample Rare Wines for a Good Cause, May 31, St. Helena
https://www.sonomamag.com/exclusive-napa-valley-barrel-auction-invites-guests-to-sample-rare-wines-for-a-good-cause/?utm_id=a2l0bWVua2luQGxlYXNpbmduZXdzLm9yZw

Napa County up 35% in crop value with
record in wine grape production
https://www.pressdemocrat.com/article/industrynews/napa-crop-report-wine-grapes-agriculture-2023/

Remove 2,000 acres of historic vineyards?
Sonoma County winegrower says ‘No way!
https://www.pressdemocrat.com/article/lifestyle/old-heritage-vineyards-california/y’

Sea Smoke Sells to Global Wine Giant Constellation
Brands Acquires Iconic Santa Barbara y Estate Vineyard
https://www.independent.com/2024/05/08/sea-smoke-sells-to-global-wine-giant/

One TV episode convinced America to drink wine.
What happened to the French Paradox?
https://www.sfchronicle.com/food/wine/article/french-paradox-health-19436384.php

2024 Sonoma County Barrel Auction Raises
More than $400,000
https://www.winebusiness.com/news/article/287109

[headlines]
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This Day in History

https://leasingnews.org/archives/May2023/05_10.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]

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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]

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