New Hires/Promotions in the Leasing Business
and Related Industries

Jason Nadeau was hired as Chief Revenue Officer (CRO) NFS Capital, Beverly, Massachusetts, where he is also located. Previously, he was at North Star Leasing, a Division of People Bank, starting as Sales Manager/Vendor Relations Manager (March, 2019 - April, 2021), promoted Vice President, Leasing Sales Manager (April, 2021 - February, 202;  SVP Director of Sales and Marketing (January, 2022 - October, 2025); prior, National Account Sales Manager, National Credit Card (March, 2011 - June, 2015). https://www.linkedin.com/in/jason-nadeau-78563448/

Cody Sanguinetti, CLFP, was promoted to Divisional Vice President, Business Development, Great American Insurance Group, working remote. Previously, he was Divisional Assistant Vice President, Business Development (January, 2022 - October, 2025), promoted from Business Development Manager (August, 2020 - January, 2022).
Full Bio:
https://www.linkedin.com/in/codysanguinetti/details/experience/
https://www.linkedin.com/in/codysanguinetti/

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Restaurant Sales Trends
By Bob Coleman
Founder & Publisher Coleman Report

Restaurant Sales Trends: Family Dining +1.9%, Quick Service -1.1%, Fast Casual –1.6%

I spent some time this week digging into the October 2025 Restaurant Industry Report from the Citizens Restaurant, Franchise & Multi-Unit team. Their data always gives a solid pulse on where the industry really stands and, right now, the numbers are challenging. Traffic is soft, costs are rising, and more than half of the brands they track are still posting negative same-store sales.

Let’s look at the numbers.

Quick Service: Down 1.1%.

• Chicken: -3.0%. KFC fell 5.0%, marking six straight quarters of decline. Popeyes down 0.9%, its second consecutive negative quarter.
• Pizza: Flat at -0.2%. Domino’s up 3.4%, Pizza Hut down 5.0%.
• Burgers: Down 3.3%. McDonald’s rose 2.5%, while Jack in the Box (-7.1%) and Good Times (-9.0%) were the worst performers.
• Coffee/Snack: Up 2.6%, the best-performing QSR category. Dutch Bros. up 6.1%, Tim Horton up 3.6%.
• Mexican: Up 0.7%. Taco Bell posted its 20th consecutive positive quarter at +4.0%.

Fast Casual: Down 1.6%. Cava up 2.1% for its 13th straight gain. Potbelly up 3.2%, Shake Shack up 1.8%. On the downside: Fuzzy’s Taco Shop down 11.8% (eight straight negative quarters), Sweetgreen down 7.6%, Chipotle down 4.0%.

Family Dining: Up 1.9%. Cracker Barrel led at +5.4%, Keke’s Breakfast Café +4.0%.

Casual Dining: Up 0.6%. Chili’s surged 23.2%, Olive Garden up 6.9%, Kona Grill down 14.6% — its seventh straight quarterly decline.

Fine Dining: Down 1.8%. The biggest drag came from STK Steakhouse, which fell 6.0% in same-store sales. STK is part of The ONE Group Hospitality (NASDAQ: STKS), which operates high-end “vibe dining” brands including STK Steakhouse and Benihana. Both concepts have been hit by softer traffic on the fine dining side, where rising costs are squeezing margins.

The Citizens team sums it up well — this is still a value-driven market. Operators that execute on efficiency and deliver on price are staying alive.

Full Report:
https://colemanreport.com/wp-content/uploads/2025/10/Restaurant_Insights_Original-file-3.pdf

 

Leasing and Finance Help Wanted
Balboa Capital - A Division of Ameris Bank
We Are Growing Our Senior Sales Team Now

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Securing Key Relationships
By Scott Wheeler, CLFP

In a market defined by volatility and transformation, the most prepared originators are not waiting for stability — they’re creating it. 2025 has presented, and continues to present in the fourth quarter, a rare window to secure high-value relationships with vendors and end-users who are actively seeking financial partners that bring clarity, confidence, and capability.

What follows is a three-step framework for building key relationships:

1) Target with Precision: Identify accounts that align with your funding capabilities and strategic goals. Define what makes a relationship “key” — and pursue only those that meet your criteria. This is about quality over quantity.

2) Campaign with Conviction: Launch personalized, aggressive outreach campaigns. Lead with your company’s strengths and your personal value proposition. Penetrate decision-making layers and thoroughly qualify each account.

3) Launch with Mutual Commitment: Formalize the relationship with clear expectations and shared production targets. Ensure both parties are aligned on deliverables and timelines — monthly, quarterly, annually.

Developing new key relationships is a mindset for growth. There are plenty of vendors and end-users seeking financial professionals who are knowledgeable about the current market and are willing to create relationships based upon a positive approach to unlimited future potential. This isn’t just about transactions — it’s about transformation. The originators who commit to this process are positioning themselves for exponential career growth in 2026 and beyond.

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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ELFA Inducts Ralph Petta
into Equipment Finance Hall of Fame

Marco Island, FL,  The Equipment Leasing & Finance Association (ELFA) has named Ralph Petta to the 2025 Class of the Equipment Finance Hall of Fame.

(Leasing News had the honor of naming Petta Person of the Year for 2009. *  Should note he was a major sponsor of the Certified Leasing and Professional Foundation, plus a great musician at many ELFA conferences and activities. (Link follows end of ELFA announcement.)

ELFA President and CEO Leigh Lytle made the formal announcement this morning at the General Session of the 64th ELFA Annual Convention in Marco Island, Florida. The official induction ceremony took place on Oct. 25 at the Chair Dinner preceding the convention, where Petta accepted the honor in person. He was recognized for his dedicated service to the association and the equipment finance industry throughout his career at ELFA.

Lytle, said, “We congratulate Ralph for being inducted to the 2025 Class of the Equipment Finance Hall of Fame.

“For over three decades, Ralph guided the association through periods of tremendous change, strengthened our voice in Washington, and deepened the connection among our members. His leadership, institutional knowledge, and unwavering commitment to ELFA’s mission have left an enduring mark on our association and on the industry as a whole.”

Petta served in a variety of roles at ELFA and the Equipment Leasing & Finance Foundation for 36 years before retiring in December 2023. He began his career as a legislative assistant to Senator Sam Nunn (GA) where he worked for nine years before joining ELFA, then known as the American Association of Equipment Lessors (AAEL), as Vice President of Research and Information Services in 1987. He also took on the role of Foundation chief staff person until a full-time executive director was hired in 1999. He was named Chief Operating Officer in 2010 and was appointed President and CEO in 2016.

Throughout his tenure at ELFA, Petta played an instrumental role in delivering on the value proposition to member organizations. Among the many initiatives under his leadership was creating a horizontal staff structure so that employees were empowered to have a voice in  the development and execution of a variety of programs, products, and services designed to assist members in the equipment finance marketplace. When international and national accounting standards regulators considered significant changes to long-standing worldwide lease accounting rules in the U.S., he led a team of subject matter expert volunteers to shape the final standards to the benefit of our industry, both in the U.S. and abroad.  He also worked with staff, the board and volunteers to transition the association to a more inclusive place, providing enhanced opportunities for young industry professionals, women, minorities and gender-diverse individuals to reach their potential and succeed within their organizations.

For more information about the ELFA  Hall of Fame Award, visit: https://apps.elfaonline.org/About/hof

About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s 600+ member companies provide essential financing that drives business growth, creates jobs, and supports economic expansion. Learn more at www.elfaonline.org.

* 2009 Ralph Petta, COO, Equipment Leasing and Finance Association
http://leasingnews.org/archives/Jan2010/1_05.htm#poy

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

ELFA Honors Lauren Baingo of DLL with the
2025 Michael J. Fleming Distinguished Service Award

Marco Island, Florida – October 27, 2025 – The Equipment Leasing & Finance Association (ELFA) today announced that Lauren Baingo, CLFP, Global Major Accounts Manager at DLL, is the recipient of the prestigious 2025 Michael J. Fleming Distinguished Service Award. This award, ELFA’s highest honor for service, recognizes individuals who have made outstanding and sustained contributions to the association and the equipment finance industry.

Baingo was formally recognized today during the ELFA’s 64th Annual Convention, held this week at the JW Marriott Marco Island Beach Resort in Marco Island, Florida.

“Lauren Baingo exemplifies the spirit of selfless leadership that the Michael J. Fleming Award was created to celebrate,” said Leigh Lytle, President and CEO of ELFA. “She has been a vital force in advancing inclusion and fostering a stronger sense of community across our membership. Her vision guided pivotal projects like the Power of People Summit and the evolution of ELFA’s pilot mentorship program, which will launch next year. We are grateful for her professionalism, warmth, and dedication.”

A highly respected leader, Baingo is driven by a deep commitment to the equipment finance industry and the people who shape it. This passion has grown over more than 15 years in financial services, where she has focused on strategic growth, customer-centered solutions, and inclusive leadership. At DLL, she continues this work as Global Major Accounts Manager, leading multi-country financing programs and helping to bring the company’s offerings to market. She also created and served as host of DLL’s first external podcast.

Baingo's efforts directly support ELFA’s commitment to developing its membership through initiatives like the new digital mentorship program that connects emerging talent with seasoned professionals. She has guided several key ELFA committees, serving as Chair of both the ELFA Women’s Council and the ELFA Inclusion Committee.

Working with members of these councils, she has championed initiatives in addition to the Power of People Summit like the Women4Inclusion Book Club, Dine Around, and Women’s Council Mental Health Walking Challenges, all designed to advance tELFA's workforce development strategy of Attract, Train, and Retain talent. Her leadership has advanced inclusion and reinforced a strong sense of community within the association.

Receiving the award at the convention, Baingo shared her appreciation for the community:

“I’m honored to receive this recognition from ELFA. Working with such passionate, driven people has been incredibly energizing. Their dedication inspires me to keep giving back and to help create spaces where current and up-and-coming equipment finance leaders can grow and thrive.”

The Michael J. Fleming Distinguished Service Award, renamed in 2014 to honor ELFA’s long-time past president, is presented annually to a dedicated volunteer whose extraordinary contributions to the association merit special recognition.

About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.

About DLL
DLL is a global asset finance company for equipment and technology with a managed portfolio of more than EUR 47 billion. Founded in 1969 and headquartered in Eindhoven, the Netherlands, DLL provides financial solutions within the Agriculture, Construction, Energy Transition, Food, Healthcare, Industrial, Technology, Transportation, and Workplace industries in more than 25 countries. The company partners with equipment manufacturers, dealers, and distributors to enable easier access to equipment, technology, and software, to support business growth.

DLL is committed to a more sustainable future for the environment and the communities in which it operates. Combining customer focus and industry knowledge, DLL provides financial solutions for the complete asset life cycle, including commercial finance, retail finance and used equipment finance. DLL is a wholly owned subsidiary of Rabobank Group. To learn more about DLL, visit www.dllgroup.com

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

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Mapped: Average Mortgage Rates
Across the U.S. in 2025

Key Takeaways

• New Jersey tops the nation with the highest average mortgage rate (6.85%) in Q2 2025.
• Alabama saw the largest quarter-over-quarter decrease in average mortgage rates (−16.7%).

After two years of high borrowing costs, mortgage rates eased in Q2 2025 across most U.S. states. Still, buying a home remains difficult. The median age of homebuyers has climbed from 30 in 2010 to a record 38 in 2024, showing that more Americans are entering the housing market later in life.

After a Federal Reserve rate cut and a drop in 10-year Treasury yields, the average rate on 30-year mortgages has settled in the mid to low 6% range, down from nearly 7% earlier in the year.

Most forecasts expect rates to stay steady through the rest of 2025. The Mortgage Bankers Association predicts the average 30-year rate will end the year at 6.5%, while Fannie Mae projects 6.4%.

Visual Capitalist

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Sudhir Amembal, CLFP Celebrates
Over 800 Industry Professionals
Attended "Winning With Leasing!"

Sudhir Amembal, CLFP, conducted his tenth public seminar on October 20. Including in-company versions of the seminar, over 800 industry professionals have attended the firm's flagship seminar, making it the most well-attended training event in the industry.

Reflecting on the program's evolution, he commented, "Beginning in the early 1980s, we offered a two-day in-person version of the seminar entitled "Leasing - The Creative Finance Alternative".

“ I take immense pride in noting that over 30,000 equipment finance professionals attended that program worldwide. The pandemic reshaped the training landscape, shifting us from live delivery to virtual engagement. 

Amembal & Halladay will soon launch additional seminars early in 2026 including "Accounting for Leases - A Customer Perspective."

Amembal led his firm in training over 80,000 equipment finance professionals worldwide, publishing 18 industry books, and providing consultancy services to a host of equipment finance companies.  He is an inductee in ELFA's Hall of Fame, Monitor Converge 2023 and 2024 Nominee for MVP Behind the Scene and The Legend, Monitor 2024 Industry Pioneer Icon, and the first-ever honorary CLFP.

News Briefs

Israel strikes Gaza after it accuses Hamas
of violating ceasefire and staging hostage discovery
https://www.cnn.com/2025/10/28/middleeast/israel-military-strikes-gaza-latam-intl

Automaker Production Stoppages Begin
Over Semiconductor Shortage
https://www.wsj.com/business/autos/automaker-production-stoppages-begin-over-semiconductor-shortage-53e22201?mod=business_lead_story

UPS Cuts 48,000 Jobs in Management and Operations
https://www.wsj.com/business/logistics/united-parcel-service-ups-q3-earnings-report-2025-stock-jobs-layoffs-1d954f75?mod=business_feat2_retail_pos5

Caesars Entertainment Third-Quarter Loss Widens
    as Las Vegas Revenue Declines
https://www.wsj.com/business/earnings/caesars-entertainment-third-quarter-loss-widens-as-las-vegas-revenue-declines-2fb955aa?mod=business_feat3_earnings_pos3

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States sue Trump administration for
    withholding food aid during shutdown
https://www.courthousenews.com/states-sue-trump-administration-for-withholding-food-aid-during-shutdown

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Sports Briefs---

What the banged up 49ers said
   after losing to Houston Texans
https://www.eastbaytimes.com/2025/10/26/what-the-banged-up-49ers-said-after-losing-to-houston-texans/

Instant analysis of 49ers’ 26-15 loss to Texans
https://www.eastbaytimes.com/2025/10/26/instant-analysis-of-49ers-26-15-loss-to-texans/

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California News Briefs---

PG&E sees major growth potential in San Jose
   as electricity demand rises
https://www.mercurynews.com/2025/10/26/pge-san-jose-economy-tech-data-ai-power-electric-gas-bill-

California billionaires open opulent
    Napa Valley winery
https://www.sfchronicle.com/food/wine/article/wonderful-co-lewis-cellars-opens-napa-20204474.php

Napa Valley's Stanly Ranch Auberge resort
   faces $230 million default
https://www.linkedin.com/company/stanly-ranch-auberge/

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Gimme that Wine

 

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

The World's Best Zinfandels of 2025
https://www.wine-searcher.com/m/2025/10/the-worlds-best-zinfandels-of-2025

How Barefoot Wine is stepping up marketing
   to meet new, evolving drinkers
https://www.marketingdive.com/news/how-barefoot-wine-stepping-up-marketing-meet-new-evolving-drinkers/803357/

Fog & Light Reserve Cabernet Sauvignon Honors
  Paso Robles Harvest Wine Month with
      New Distribution and Retail Program
https://www.winebusiness.com/news/article/309718