New Hires/Promotions in the Leasing Business
and Related Industries

Nicole Bush was hired as Application Support specialist, LTi Technology Solutions, Omaha, Nebraska. She is located in Longmont, Colorado. Previously, she was at Pawnee Leasing Corporation, starting as Documentation Manager (August, 2007 - April, 2022); promoted Aspire, Product Owner (April, 2022 - September, 2024). Full Bio:
https://www.linkedin.com/in/nicole-bush-6b22b379/details/experience/
https://www.linkedin.com/in/nicole-bush-6b22b379/

Ron Elwood, CLFP, is Senior Vice President of Partner Funding, Credit (PFC) Division, Navitas Credit Corporation, a United Community Bank Company , Ponte Verde, Florida. He is located in the Columbia, South Carolina Metropolitan Area. He joined Navitas February, 2017, Business Development Manager, promoted Division Vice President (October, 2021 - September, 2024). Prior, he was at Prysmian Group, starting 2021, Regional Inside Sales Manger, promoted (October,2014 - January, 2017) Utility Market Manager. Owner, Palmetto Business Finance, LLC (2010 - December, 2014); Marketing Manager, LEAF Specialty Finance (2005 - 2010); Credit Analyst (App Only and Commercial) Republic Leasing Company/NetBank Business Finance (1999 - 2005). https://www.linkedin.com/in/relwood/

Andrew Holmes was hired as Senior Vice President, Finance Director, New Development Manager, DLL, Wayne, Pennsylvania. He is located in Salt Lake City, Utah. Previously, he was at Bank of America, Salt Lake City, starting September, 2013, VP, Equipment Sales Officer promoted SVP Equipment Sales Officer (September, 2013 - September, 2024). He joined Wells Fargo Equipment Finance, February, 2004, Account Manager, promoted VP, Territory Manger, Greater San Diego, October, 2006, promoted VP, Territory Manager, Orange County, California (July, 2011 - September, 2013).
https://www.linkedin.com/in/andrew-holmes-ab100aa/

Brittney McNeal was hired as Regional Sales Manager, Interpersonal Skills, Centra Culinary Finance, Plano, Texas. She is located in Greater Philadelphia. Previously, she was Regional Sales Manager, Ascentium Capital (November, 2022 - September, 2024). She joined Marlin Capital Solutions March, 2000, Sales Development Representative, promoted Business Development Manager (April, 2021 - September, 2024).
Full Bio: https://www.linkedin.com/in/brittney-mcneal-28922666/details/experience/

Kyle Morris was hired as Credit Analyst, Highland Capital Corporation, Washington, New Jersey. He is located in St. Charles, Missouri. Previously, he was Credit Analyst, Supervisor, Midland Equipment Finance (December, 2017 - September, 2024); Credit Specialist, Scottrade (October, 2014 - December, 2017).

Dave Tyler was hired as  Group Portfolio Manager, CIBC Equipment Finance,  Chicago, Illinois. He is located in the Kansas City Metropolitan Area. Previously, he was at Wells Fargo, starting October, 2021,  Vice President, Senior Portfolio Manager, Middle Market, promoted Vice-President, Lead Equipment Finance Portfolio Manager, Large Deal Group, (May, 2022 - August, 2024). Full Bio:
https://www.linkedin.com/in/dave-tyler-5b17a930/details/experience/
https://www.linkedin.com/in/dave-tyler-5b17a930/

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What is Your Plan?
By Scott Wheeler, CLFP

We are entering the last third of 2024 and there is much to be accomplished in the commercial equipment finance and leasing industry over the coming four months. Originators need to deliver their annual production goals and many are behind going into September. Originators need to focus on the exact numbers:

• What is the production number that needs to be funded prior to end of 2024 for the originator to meet his committed goal?

• How many transactions are in their backlog (approved and documented ready for funding)? What is the shortfall?

• Based upon the average size transaction, how many additional need to be found, approved, and funded each week or month for the originator to reach his committed goals?

• How many additional efforts will be required to meet the committed goals? Is the originator willing to invest the necessary time and effort required to meet his committed goals?

• What is the plan?   

Originators control their own destiny and production. No matter the economic environment, originators who plan their work and work their plan can exceed!

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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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support
Plus other openings for successful, growing funders

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:

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Don’t take the bait on phishing scams
By Alexandra House, Federal Trade Commission

( I wish I had this information as I fell for a so-called problem on the computer and the message
to follow supposedly came from "Microsoft Anti-Virus," asking to view screen to allegedly help. The problem is I bit and it was not from Microsoft but letting them hack into my computer and then a scam demanding money. - Editor).

Have you ever gotten a text or email warning you that something is wrong with an account online? Maybe it says your streaming account is about to be suspended unless you respond quickly. It might even have a link that will supposedly fix your account’s problems. The message looks real. But is it?

• Your first instinct might be to click to solve your problems. Don’t click. There’s likely nothing wrong. Instead, it might be a phishing scam. That’s when scammers pose as well-known companies to get you to give up sensitive information via text or email. A phishing email might:

• say they’ve noticed some suspicious activity or log-in attempts — they haven’t

• claim there’s a problem with your account or your payment information — there isn’t

• say you need to confirm some personal or financial information — you don’t

While real companies might send you emails or text messages, they won’t do things like send a link to update your payment information. Only scammers do that. Even opening a link in an unexpected text or email can expose you to scammers — even if you don’t enter any sensitive info.

So, don’t click on any links in unexpected emails or texts. If you’re concerned, contact the company directly using a link you already use or a phone number you know is correct. And if you think you’ve given someone your Social Security, credit card, or bank account number, report it at IdentityTheft.gov and get a recovery plan. If you clicked on a link in an unexpected email, update your security software and run a scan to look for viruses and malware.

Then report the phishing scam. Tell the FTC at ReportFraud.ftc.gov, forward suspicious texts to SPAM (7726), and forward suspicious emails to ReportPhishing@apwg.org.

(I tried to report to the FBI in San Jose but automated directed me to contact Washington FBI, which led to an automated three pages form form to fill out …which I did several times.  But I made too many so-called errors that I could not correct, so I gave up. I then email the FBI San Francisco ,and was directed to fill out the same form. I called again but could not speak to anyone.  It seemed to be all AI.

(Originally, I did have sense to turn the computer Off. So I searched online for a service on such
A problem. I found a local company who picked up my computer for a day and a half and fixed it, added some programs, too. Then they returned with an expert to go over what was done, and what I was to do.

(I sure miss American Leasing and my staff as well as full-time top experienced Tech and person who started Streak Wave, who shared office space for internet work he did for Leasing News. Editor)

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Women in Leasing Picking Up Steam
By Sloan Schickler, Esq.

The Annual Meeting of the National Vehicle Leasing Association this fall will mark our third Women in Leasing (WIL) roundtable. We will join together from 12 noon to 1:30 p.m. on October 17, 2024. The roundtable is a lively event with a lot of energy particularly after having met virtually for an entire year prior.

This year the group decided that we should branch out a bit, and I am proud to report that we are hosting a Poolside Social at 3:00 p.m. at the hotel on Wednesday, October 16, 2024 just prior to the commencement of the Annual Meeting. This will be a great opportunity to greet old friends and colleagues along with new members prior to the Welcome Reception. At the social, WIL will be sponsoring a fundraiser for a charity located near the hotel that supports a homeless shelter for women and children in need.

As part of our kick-off events for this next year of WIL, we will be sponsoring a one-hour virtual workshop on October 29, 2024. The workshop will be open to the NVLA WIL community—which means all women that are employed by NVLA members. The program is entitled “Communicating with Accountability: Navigating and Repairing Micro Aggressions in the Workplace” and will be presented by Katie O’Malley.

Ms. O’Malley is a Career Coach and Workplace Consultant with over 15 years of experience. Her content is geared toward women who work in automotive, aviation and tech. In May 2024, she hosted a workshop and presented as the keynote speaker at the Automotive News Leasing Women Conference.

As in the past, we will continue our bi-monthly virtual meeting on the third Wednesday of every other month at 11:00 am CT. This year,  we will focus on conversations around the five dimensions of workplace wellness (career, financial, physical, emotional and community) and the perennial challenges women face in these areas.

Looks like we are off to an amazing start of our third year of WIL. I hope you will join us!

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida
https://www.nvla.org/page/2024conference
Keynote Speaker Michelle "Mace" Curran, Combat Veteran, Former USAF Thunderbird Lead Solo, F-16 Fighter Pilot
https://leasingnews.org/archives/Jul2024/07_12.htm#nvla
Sloan Schickler, Esq., Schickler & Schickler, will be covering the conference for Leasing News. She is also presenting there.

Sloan Schickler is a partner in the commercial finance law firm, Schickler & Schickler PLLC. Schickler, a veteran vehicle leasing, finance and bank attorney and the attorneys in her firm have decades of experience representing and protecting lessors, banks, captive and independent finance companies in all facets of the vehicle leasing and financing business. She has served as the NVLA Legal and Legislative counsel since 2017, is currently the only woman on the NVLA board of directors and is a supporter of Leasing News and sits on its Advisory Board.

Sloan can be reached at: sloan.schickler@schicklerlaw.com or 212-262-5297

NYC’s Biggest Taxi Insurer Is Insolvent,
Risking Major Transit Meltdown
By Matthew W. Daus, Esq.

Image: Bess Adler

The 52-year-old, family-owned firm is hardly a household name but it’s vital to how New Yorkers zip around the city. American Transit, also known as ATIC, insures roughly 60% of New York City’s more than 117,000 commercial taxis, livery cabs, black cars and rideshare vehicles. It is also insolvent.

“DFS (the New York City Department of Financial Services) has to step in and do something,” said Matthew Daus, a partner at law firm ,Windels Marx, and the former chairman and commissioner of New York City’s Taxi and Limousine Commission.

"The company’s latest financial filing paints a picture so dire that it’s “creating unrest in the industry,” said Daus, who founded Windels Marx’s Transportation Practice Group.

ATIC has been under pricing insurance for decades, snapping up business from competitors, according to Daus and other transit and insurance industry officials.

Run by Ralph Bisceglia, ATIC has for decades been the dominant player in New York City’s commercial car insurance market, the largest in the country, offering cabbies premiums far lower than other insurers. In the second quarter, it posted more than $700 million in net losses, according to a filing with the National Association of Insurance Commissioners.

To learn more about the impact on the for-hire vehicle industry, contact Matt Daus at Mdaus@windelsmarx.com.

Matthew W. Daus, Esq.
Partner and Chairman, Windels Marx Transportation Practice Group

Source: Bloomberg
https://www.bloomberg.com/news/articles/2024-09-03/nyc-risks-taxi-uber-meltdown-as-biggest-insurer-faces-huge-losses?embedded-checkout=tru

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

Banking Shows Resilience in Second Quarter
FDIC Reports Net Income of $71.5 Billion

“The banking industry continued to show resilience in the second quarter.  Net income increased and asset quality metrics remained generally favorable.  However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events.  In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”

— FDIC Chairman Martin J. Gruenberg

WASHINGTON— Reports from 4,539 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $71.5 billion in second quarter 2024, an increase of $7.3 billion (11.4 percent) from the prior quarter.  A decline in noninterest expense and one-time gains on equity security transactions contributed to the quarterly increase.  These and other financial results for second quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released.

• Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
• Community Bank Net Income Increased Quarter Over Quarter
• The Net Interest Margin Declined Slightly, Driven by the Largest Banks
• Domestic Deposits Decreased From the Prior Quarter
• Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
• Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
• The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent

Community Bank Net Income Increased Quarter Over Quarter:  Quarterly net income for the 4,104 community banks insured by the FDIC was $6.4 billion in the second quarter, an increase of $72.6 million (1.1 percent) from first quarter 2024.

FULL FDIC 2nd Quarter Press Release:
https://www.fdic.gov/news/press-releases/2024/fdic-insured-institutions-reported-net-income-715-billion

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

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Clear the Shelters
Street Fair Berklely, Ca
Saturday, September 7, 10 am - 4 PM

https://berkeleyhumane.org/events/bark-and-meow/?gad_source=1&gclid=Cj0KCQjwiuC2BhDSARIsALOVfBIuPXvJxR30lgLblQqoWO1Yqv-9ovCBIdml9SH-IBFI_51ol_3nEP4aAqHUEALw_wcB

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

Absorbing drama (“Evil Does Not Exist”), buoyant animation (“Inside Out 2”), go-for-broke action (“The Killer”), claustrophobic chills (“Oddity”) and ingenuous suspense (“Trap”) make for a lively set of new streaming releases.

Evil Does Not Exist (Apple TV, iTunes): Acclaimed Japanese director Ryusuke Hamaguchi follows his Oscar-winning “Drive My Car” with this absorbing, meditative drama. The setting is a mountain village near Tokyo, where widower Takumi (Hitoshi Omika) enjoys a peaceful existence alongside his headstrong daughter, Hana (Ryo Nishikawa). Into their quiet lives steps a foreboding element in the form of a talent agency interested in opening a glamorous tourist site in the area, a shift into gentrification which threatens the fragile environment. The company representatives, Takahashi (Ryuji Kosaka) and Mayuzumi (Ayaka Shibutani), are determined to sway the local population by getting on Takumi’s side, though things take an unexpected turn after Hana apparently disappears. With an unhurried mastery of the medium, Hamaguchi provides a vision of beauty and unexpected horror. With subtitles.

Inside Out 2 (Amazon Prime, Apple TV): Pixar returns to the arena of emotions in this enjoyable sequel to the beloved 2015 animated hit. The plot finds the original’s teenage heroine, Riley (voiced by Kaitlin Dias), adjusting to her new home in San Francisco, as well as the often conflicting feelings of puberty. Said feelings take shape inside her head, where Joy (Amy Poehler) and Sadness (Phyllis Smith) strike a balance in their guiding mission. With an all-important hockey game coming up, Riley becomes increasingly familiar with a new emotion—Anxiety (Maya Hawke). As the other emotions escape the mental vault, can Riley’s sense of self keep from imploding in the face of life’s challenges? Fast-paced, ingenious and empathetic, the film continues the Pixar tradition of splashy fun with aspirations of depth.

The Killer (Peacock): A master of cinematic mayhem, Hong Kong veteran John Woo surprisingly remakes his most famous title and brings a different form of poetry to it. Changing the setting to Paris but maintaining the basic plot from the 1989 original, it flips that macho classic by re-imagining the protagonist as a woman—namely, professional assassin Zee (Nathalie Emmanuel). Known as “the Queen of the Dead,” she plies her lethal trade in a netherworld of gangsters and drug dealers until one day she runs into an American singer named Jenn (Diana Silvers). Blinded during a hit, Jenn is protected by Zee as they’re chased by criminals as well as a tenacious police inspector (Omar Sy). Though he can’t possibly match the earlier film’s delirium, Woo’s bravura sense of fun is still palpable.

Oddity (Amazon Prime, Apple TV): Halloween is still some time away, but you can get an early start in the shock department with this exciting Irish horror movie, from promising director Damian Mc Carthy. The story kicks off with the mysterious demise of Dani (Carolyn Bracken), who arrives at an isolated house with her husband (Gwilym Lee) with hopes of renovating the place and instead meets strange terrors. Investigating her death is Dani’s twin sister Darcy (also played by Bracken), the blind owner of an oddities shop who brings along with her a creepy wooden mannequin. As the plot unfolds, supernatural elements begin to seep into Darcy’s revenge-propelled mission and ancient myths bleed into modern situations. Making fresh use of familiar horror tropes, Mc Carthy keeps things swift, claustrophobic, and satisfyingly creepy.

Trap (Amazon Prime, Apple TV): Fun and fright are ingeniously blurred in this crisp, claustrophobic thriller from suspense specialist M. Night Shyamalan (“The Sixth Sense”). As a reward for his teenage daughter’s (Ariel Donoghue) good grades, Philadelphia firefighter Cooper Adams (Josh Hartnett) takes her to a concert to see her favorite pop star, Lady Raven (Saleka Shyamalan). The bright evening quickly darkens, however, as the authorities bring security guards into the event to track down a serial killer nicknamed The Butcher. With the place turning into a multifaceted labyrinth and the murderer’s identity revealed, a wily game of cat-and-mouse emerges. Making good use of Shyamalan’s cunning cleverness, the film takes stock of many of the filmmaker’s themes (especially families in peril) while offering a purely exhilarating cinematic ride.

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

News Briefs

Pride Truck creditors allege ‘historic mismanagement
    say they’ve lost faith in bankruptcy Monitor
https://www.trucknews.com/business-management/pride-creditors-allege-historic-mismanagement-say-theyve-lost-faith-in-bankruptcy-monitor/1003188521/

Yellow Truck’s Chapter 11 plan includes rights
    offering, REIT ---Perhaps all Total $3 Billion
https://www.freightwaves.com/news/yellows-chapter-11-plan-includes-rights-offering-reit?oly_enc_id=7354E3969723H7B

Zillow's AI-powered home search gets smarter
    with new natural language features
ttps://www.prnewswire.com/news-releases/zillows-ai-powered-home-search-gets-smarter-with-new-natural-language-features-302237266.html

Maui wildfire survivors say insurers are
    failing to clean up toxic damage to their homes
https://www.washingtonpost.com/climate-environment/2024/09/05/wildfire-smoke-damage-home-insurance-maui-colorado/

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How Self-Driving Cars Get Help From Humans
   Hundreds of Miles Away
https://www.nytimes.com/interactive/2024/09/03/technology/zoox-self-driving-cars-remote-control.html

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Sports Briefs---

How to watch the 49ers vs. Jets on Monday Night
Football even if there’s a blackout on DirecTV
https://www.mercurynews.com/2024/09/04/san-francisco-49ers-new-york-jets-streaming-tv/

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California News Briefs---

Microsoft pays more than $300 million in  Silicon
   Valley’s largest real estate deal of the year
https://www.mercurynews.com/2024/09/05/microsoft-mountain-view-south-bay-property-economy-real-estate-tech/

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Gimme that Wine

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

Rhone Rangers to host Grenache Webinar
   September 18, 2024, from 4:00pm – 5:15pm PT.
https://www.winebusiness.com/news/article/292066

R.H. Drexel: Paso Robles Loses Two Pioneers
JoAnn Cherry....John Munch
https://jebdunnuck.com/2024/08/r-h-drexel-paso-robles-loses-two-pioneers/

Axel Carménère 2022 Wins High Honor of Best
Chilean Wine by USA Wine Rating
https://www.winebusiness.com/news/article/292036