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"Gold in Those Files"
By Scott Wheeler, CLFP

Top originators in the commercial equipment finance and leasing industry are pursuing past clients and vendors, even those that were once out of reach. They understand the market is constantly changing and that past relationships can be rekindled and become an excellent source of new production in 2024. Below are a few examples recently shared by originators:

A top originator, working for an independent, lost a vendor several years ago to an institutional player. At the time, the originator was unable to match a subsidized program offered by the institutional player. In the first quarter of 2024, the originator discovered that the institutional player was no longer funding transactions in this equipment sector. The originator re-established his relationship with the vendor and created a program that worked for the originator's company, the vendor, and the end-users. This program is expected to generate significant volume in 2024.

A top originator helped an end-user, which was un-bankable in 2019 through 2022, to acquire several units of equipment. In 2022, the end-user was once again attractive to banks. A call to this end-user in March of 2024 revealed that the end-user was in good standing with two banks but was reaching exposure limits with both. The originator funded a high six-figure transaction for his past customer in April of 2024.

In 2022, a top originator's largest end-user hit an exposure issue. The originator was unable to secure funding for three different requests in 2022. The end-user moved forward with several competitors in 2022 and 2023. Over the last few years, the originator had tried several times to maintain contact with little success. In 2024, the originator reached out again and explained that his exposure issues no longer existed, his capabilities over the past years had improved because of a merger, and the market itself had changed significantly. The originator has re-established the relationship and has already funded two schedules and has an approval for two additional transactions.

As I have stated many times over the years, "There is gold in those files." Top producers never stop working their past contacts, their past end-users, and their past vendors. An originator can increase his current production numbers by 20% by properly working his past relationships.

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

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

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FDIC-Insured Institutions Reported
Net Income of $64.2 Billion

FDIC Chairman Martin J. Gruenberg said, “The banking industry continued to show resilience in the first quarter. Net income rebounded, asset quality metrics remained generally favorable, and the industry’s liquidity was stable. However, the banking industry still faces significant downside risks from the continued effects of inflation, volatility in market interest rates, and geopolitical uncertainty. In addition, deterioration in certain loan portfolios, particularly office properties and credit cards, continues to warrant monitoring.”

Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense, Provision Expenses, and Higher Noninterest Income
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Fell For the Second Consecutive Quarter
Asset Quality Metrics Remained Generally Favorable With the Exception of Material Deterioration in Credit Card and Commercial Real Estate Portfolios
Loan Balances Declined Modestly From the Prior Quarter, but Increased From a Year Ago
Domestic Deposits Increased For the Second Straight Quarter
The Deposit Insurance Fund Reserve Ratio Increased Two Basis Points to 1.17 Percent

Full Report:
https://www.fdic.gov/news/press-releases/fdic-insured-institutions-reported-net-income-642-billion

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PC Shipments Drop Below 250 Million in 2023
By Felix Richter, Statista

Thanks to hundreds of millions of people working, teaching or studying from home in the midst of the Covid-19 pandemic, the global PC industry enjoyed a renaissance during that time. After years of decline or stagnation at best, the industry bounced back with double-digit shipment growth in 2020 and 2021. With more than 340 million PCs shipped in 2021, it was the best since 2012, when the industry's decline began.

As people had already equipped their workplaces at home and/or were returning to the office, demand was fading in 2022, with inflation and geopolitical uncertainties not helping the situation. According to Gartner, global PC shipments dropped by 16 percent year-over-year, while remaining above pre-pandemic levels.

However, the same can't be said for 2023. With a further decline of 15 percent and only 242 million units shipped, the market hit its lowest point of the last 15 years. As Gartner Director Analyst Mikako Kitagawa said in the press release accompanying the 2023 shipment figures, recovery might be spotty over the next few months due to "the anticipated component price hike [...], as well as geopolitical and economic uncertainties."

Prior to the Covid-19 pandemic, there had already been a positive trend in PC shipments, as the end of support for Windows 7 had sparked a replacement cycle, ending seven years of negative growth in 2019. However, without the pandemic, that trend would likely have faded in 2020.

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The U.S. Now Has Over 183,000 Public EV Chargers
That’s almost double compared to three years
By Julian Onistran, Inside EV

Recharging an electric vehicle in the United States is getting easier as more and more public charging stations are installed throughout the country. According to the Joint Office of Energy and Transportation, the U.S. now has over 183,000 publicly available charging ports.

More than 13,000 were added in the last three months alone. Compared to January 2021, the number has almost doubled, but there’s more to the story.

The largest number of public EV chargers in the U.S. are Level 2 plugs–140,387, according to the Joint Office. These need a 240-volt connection and can provide between 6 and 19 kilowatts of power, so topping up an empty EV battery can take anywhere from 4 to 10 hours, depending on the capacity.

However, among these, there are more than 9,000 chargers listed as temporarily unavailable–8,697 DC fast chargers and 775 Level 2 plugs. The Joint Office also lists 232 Level 1 charging locations with a total of 873 plugs. These work on 120-volt connections and provide less than 6 kW of power, making recharging a dead battery truly an overnight affair.

The most publicly available plus are of the J1772 variety (130,087 ports), followed by Tesla’s NACS (36,499 ports), CCS (16,925 ports) and CHAdeMO (8,687 ports).

The US Government has planned to install no fewer than 500,000 EV chargers across the nation by 2030 through its National Electric Vehicle Infrastructure (NEVI) program. According to the Joint Office, a total of 36 states have released at least their first round of solicitations and 23 states have issued conditional awards or put out agreements in place for more than 550 charging stations that will have at least four DC fast charging ports each.

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Equipment Finance Cares
Report on Pennsylvania Meeting

Equipment Finance Cares (EF Cares) held its second event of 2024 in Philadelphia, PA. Over 60 equipment finance professionals attended, representing 42 different organizations.’

Jesse Johnson, president of Consult Disrupt and founder of Equipment Finance Cares, said, This was our largest fundraising effort to date, so thank you to all that attended and the continued support from our sponsors. Especially “Thank You Oakmont Capital Services, for hosting this amazing event in the city of brotherly love.”

Blair Dawson, principal of Sterling Rose Solutions, chaired the event. Brad Peterson, president of Channel, moderated the human side of the equipment finance panel, which consisted of Kyin Lok, CEO of Dext Capital; Jennifer Fanz, vice president of sales at PEAC Solutions; Cole Farmer, CLFP, fractional chief financial officer/controller at Consult Disrupt; and Rob Boyer, CLFP, president of First Commonwealth Equipment Finance.

Immediately following the panel discussion, the featured speaker, Nancy Robles, president of Eastern Funding, discussed her recent book project, “The Many Pieces of Me,” and the importance of mental health in the workplace.

The foundations showcased during the event were Love Life Now, MedShare, Cookies for Kids Cancer, Cystic Fibrosis Foundation, Westchester Community Food Bank, Dress 4 Success, Equipment Leasing & Finance Foundation and the Chris Walker Education Fund.

Oakmont Capital Services hosted a networking reception that concluded the event.

Andrew Pace from Asset Compliance, said, “Panel discussions, such as those on mental health, ignite change by directly addressing relevant issues, sparking insightful dialogue and fostering actionable solutions . The EFC foundation proudly supports charities that make a meaningful difference in the lives of individuals within our industry.”

Jim Wall from PEAC Solutions said, “The Equipment Finance Cares PA event reinforced and broadened my approach towards leading with humanity and incorporating the understanding of mental health factors.”

Donna Yanuzzi from 1st Equipment Finance, said, “This event was all about real challenges and the caring human side of all of us in EF and less about the Equipment Finance business. It was enlightening and refreshing and puts it all in perspective.”

Alice Rehm from Leasepath, said, “I was so impressed by my first experience at an EFC event. Not only was the location fantastic, the content was relatable and the panel and speakers were phenomenal. I will definitely be looking out for the next event registration.”

The next EF Cares event will be on Wednesday, September 25th in Minneapolis, MN and will be hosted by Channel.

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

Though best known for launching the careers of such luminaries as Martin Scorsese, Francis Ford Coppola and Jonathan Demme, B-movie impresario Roger Corman (1926-2024) was himself a director of astonishing energy and ingenuity. So check out our list for some of the best titles in his extensive, once-in-a-lifetime filmography.

A Bucket of Blood (1959): The art world and its pretentious capricesareghoulishly lampooned in Corman’s delicious horror-satire. Cult character actor Dick Miller is marvelous in a rare lead role as Walter Paisley, a clumsy busboy working ata faddish beatnik café. A fish out of water among hepcats and aesthetes, he tries to fit in with the cool scene by becoming a sculptor. His lack of artistic talent gets him nowhere, until he stumbles upon the idea of covering a dead cat in plaster and presenting it as his work. Newly hailed by the it-crowd, Walter quickly finds himself looking for different kinds of bodies for his next sculptures. Shotby Corman with his customary economy and gallows humor, this is a success fable full of dark charm.

The Little Shop of Horrors (1960): A sort of companion piece to “A Bucket of Blood,” this immensely enjoyable black comedy showcases Corman’s knack for mordant wit on a shoestring. Set on a Skid Row flower shop, it follows shy schnook Seymour (Jonathan Haze), who one day surprises his avaricious boss, Mr. Mushnik (Mel Welles), with a botanical invention—a new plant species that he names Audrey Junior, after his sweetly dim-witted girlfriend (Jackie Joseph). The store’s success soon hits a bump when Seymour learns that the plan needs blood to survive, which sends him on a bumbling search for victims. Filmed on just a few days but brimming with inventivegags and an anarchic spirit, the movie also features a scene-stealing early turn by Jack Nicholson as a giddy dentist patient.

The Intruder (1962): Straying from his preferred realms of science-fiction, horror and satire, Corman directed one of his strongest films with this blistering portrait of prejudice and opportunism in the segregated South. William Shatner is compellingly malevolent as Adam Cramer, a charismatic stranger who comes to a small town and proceeds to stoke the fires of racism in the local population. As the high school is integrated by law, the townspeople simmer with hatred and Cramer seizes the chance to place himself at the front of the volatile demonstrations. Others affected by him include a vulnerable housewife (Jeanne Cooper) and the brave but doomed newspaper editor (Frank Maxwell). Shot on real, racially volatile locations, this is an uncompromising snapshot of the time as well as a testament to Corman’s intense dramatic skills.

X: The Man with the X-Ray Eyes (1963): Vision (and, inexorably, cinema itself) is the subject of this potent science-fiction parable, which makes use of striking special effects to exploreCorman’s more experimental side. Ray Milland stars as Dr. James Xavier, a scientist determined to enlarge humanity’s ocular abilities. He develops a new serum and tries it on himself, which allows him to see colors and forms normally invisible to the naked eye. After he accidentally kills a colleague during an argument, Dr. Xavier goes on the run and hides as a mind reader working for a greedy carny (Don Rickles). With his condition worsening, can he find a cure before he goes mad? Corman’s penchant for psychedelic absurdism finds its apex here, as the world is memorably reduced to a solarized smear.

The Masque of the Red Death (1964): Long obsessed with Edgar Allan Poe, Corman directed eight screenadaptations of the literary master of the macabre, andthis is the most stylish and most ruthless one. Set in plague-stricken medieval times, it centers on Prospero (Vincent Price, in one of his greatest horror roles), an unscrupulous prince more concerned with pleasure and luxury and unholy rituals than with the health of his subjects. While the poor masses face fear and disease outside, Prospero and the decadent elite lock themselves into the castle and enjoy a grand ball, sure that they’re safe from danger. But who is the mysterious, cloaked figure among them? Lushly filmed with a flairfor hallucinatory sequences, Corman’s danse-macabre remains chilling, elegant, and more relevant now than ever.

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

Border Collie
Williamsville, New York Adopt-a-Dog

Ashley

Female
4 months, 29 days
Tricolor (tan/brown &
black & white)
Short Coat Length
Vaccinated
spayed
House Trained
Good in Home with
Other Dogs, Children

Meet Ashley

Pretty Ashley is ready to find her new home! Ashley is about 5 months old and currently weighs 23 pounds. We believe she will be a medium size dog when fully grown (40ish pounds). We are not really sure of her breed mix - maybe Border Collie in there?

This happy go lucky girl is so much fun! She adores being outdoors and will stay out for as long as you allow. She has already mastered using the doggie door! Ashley gets along well with other dogs and enjoys playing with them. She also loves toys, especially tennis balls!

Ashley is well-trained to use a crate and sleeps through the night. She is also house-trained, but please be patient as she adjusts to a new home and routine. Ashley has previously lived with kids and got along great with them - she adores the attention and playtime with children! Ashley is intelligent and keen to learn more. She knows sit (especially for treats!) and down. She is working hard on stay and paw and we think she will pick that up soon.

She is eager to please her humans. Can't you just imagine Ashley sitting in the front seat while you're out and about this summer? She would love to become a part of your family and share in the summer fun! Ashley is spayed, up to date with vaccines, microchipped, flea/worm treated. Her adoption fee is $350

https://www.alphapaw.com/
support@alphapaw.com

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Menkin Discovers FinTech
on his Vacation in Hawaii

I was really surprised, living in Silicon Valley since 1972, working with many of the companies who grew here, and to say the least, writing about Financial Technology. Arriving at our room at the Grand Wailea, Wailea, Hawaii, with a great view, beautiful weather, I looked around the room for the hotel booklet, often loose-leaf, about telephone numbers, amenities, menus, in-room dining, and couldn't find it. I went through drawers, even looked in the bathroom. I finally called the main desk. They told me to turn on the TV.

Wow, it was all there, including videos, details, prices, events; easy to navigate. Here I arrived, used to "old" technology, but t here was Wi-Fi everywhere, fast speeds, too, free. I remember coming to Hawaii and no internet connection at the Mauna Kea, traveling to a nearby hotel to do Leasing News where they had a business office with 56k speed!

I should have realized this after buying Christmas presents for the kids, Nest, wireless vacuum cleaner, iPads, even the seven-year-old has one.

Here I am in a modern, beautiful hotel, and I expect a loose-leaf booklet with information when it is on the large TV screen, can be updated, and you can interface, too. I don't need to telephone. I can book restaurants via Open Table, make other reservations, and do all of this very easily.

That is what FinTech is all about. Streamlining, making things easier, combining money like a bank does to lend out, streamlining procedures, developing your own parameters, maybe guessing right a lot more than guessing wrong, doing it more economically, more efficiently, even resulting here at the Grand Wailea with a more relaxing and enjoyable vacation.

I don’t know what AI is going to change, perhaps I will be just as surprised just when I realized FinTech was here on my vacation in Hawaii.

ALOHA!

News Briefs

Bankruptcy Court Rules that Millions
in Roglieri Property Can Be Seized
https://www.timesunion.com/business/article/bankruptcy-trustee-seize-collections-roglieri-s-19481278.php

Atlanta-based Kabbage to pay up to $120 million
to settle PPP fraud allegations
https://www.ajc.com/news/business/atlanta-based-kabbage-to-pay-up-to-120-million-to-settle-ppp-fraud-allegations/2B6V7PW6KVF4NO5FV25G22T5NI/

64% of business leaders have concerns
with hiring recent college grads: report
https://www.cfo.com/news/business-leaders-hiring-recent-college-graduates/717329

Record number of storms forecast ahead
of 2024 hurricane season
https://www.ajc.com/atlanta-weather/noaa-forecasts-highest-ever-number-of-storms-ahead-of-2024-hurricane-season/25DLPTOLV5BYNOY26K5ZDAJO7A/

Clean Energy Ventures closes second
funding round re: climate-tech startups
https://www.bostonglobe.com/2024/05/29/business/clean-energy-ventures-closes-second-funding-round/

Another Big Oil Deal Despite Regulatory
Pushback and Market Volatility
https://www.nytimes.com/2024/05/29/business/dealbook/oil-merger-conocophillips-marathon.html

T-Mobile will buy U.S. Cellular’s wireless
business in $4.4 billion deal
https://www.washingtonpost.com/business/2024/05/28/tmobile-uscellular-wireless/

Beige Book - Federal Reserve
May, 2024 Report
https://www.federalreserve.gov/monetarypolicy/beigebook202405-summary.htm

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How A.I. Made Mark Zuckerberg Popular
Again in Silicon Valley
https://www.nytimes.com/2024/05/29/technology/mark-zuckerberg-meta-ai.html

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Sports Briefs---

49ers’ Josh Dobbs, the QB with a beautiful mind,
is acing his initial tests
https://www.sfchronicle.com/sports/49ers/article/49ers-josh-dobbs-qb-beautiful-mind-aces-19481879.php

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California News Briefs---

Dollar Tree lines up to buy 93 shuttered
99 Cents Only stores in California
https://www.pressdemocrat.com/article/business/dollar-tree-99-cents-only-byt/

SF Bay Area carmaker Lucid lays off hundreds
of workers after raising $1 billion
https://www.sfgate.com/tech/article/lucid-group-layoffs-electric-vehicle-19483316.php

One San Jose tiny home shelter is successfully
moving people to housing.
Can it be a model for other sites?
https://www.mercurynews.com/2024/05/29/one-san-jose-tiny-home-shelter-is-successfully-moving-people-to-housing-can-it-be-a-model-for-other-sites

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Gimme that Wine

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

Bidding Now Open for Collective Napa
Valley Barrel and Live Lots
https://www.winebusiness.com/news/article/287934

Oregon wineries sue PacifiCorp for
US$100 million for smoke damage
https://www.thedrinksbusiness.com/2024/05/oregon-wineries-sue-pacificorp-for-us100-million-for-smoke-damage/

Wine and cheese helps combat dementia
according to a study by Iowa State University
https://www.thedrinksbusiness.com/2024/05/wine-and-cheese-helps-combat-dementia/

As momentum for a transformation of Missouri
wine country slows, locals yearn
for a return to tradition
https://www.firstalert4.com/2024/05/29/momentum-transformation-missouri-wine-country-slows-locals-yearn-return-tradition/

Castle Rock Winery Is Proud To Announce
It Has Received Two Additional 91 Point
Ratings From James Suckling
https://www.winebusiness.com/news/article/287927

French winegrowers struggle with weather
wine regions hit with difficult conditions
https://www.thedrinksbusiness.com/2024/05/french-winegrowers-struggle-with-weather/

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