AACFB Expo Recap: "Great Educational Sessions
and Plenty of Opportunities to Network"

By Vicki Shimkus, CLFP, Balboa Capital
Broker Relationship Manager

AACFB held their 2024 Commercial Financing Expo in New Orleans on September 4th and 5th. This year’s theme was “Seizing Strategic Opportunities: Positioning for Future Prosperity.”  The Expo fit a lot of opportunities into a quick two-day event.

Tuesday evening,  before the Expo kicked off,  there was a charity cruise aboard the Natchez Riverboat to benefit the Greater New Orleans Foundation. The cruise was sold out and much fun was had aboard the iconic steamboat. The attendees had access to the private Captain’s Salon with live jazz music and food and drinks.

The conference began Wednesday morning with the Women in Finance breakfast. It was, as always, very well attended. There were several first-time attendees which is always positive to see.  One of the attendees, Suzan Stanton, got up to speak about how thankful she has been for these meetings throughout her career. She is retiring this year and wanted to come for a last goodbye.

The exhibits and educational sessions began by 9:30am and lasted until 5:30pm that evening. Educational sessions included sessions on Interim Rent, Mastering Deal Placement, Building Broker/Funder Relationships, Navigating the Credit Landscape and a panel including new and seasoned brokers. Equipment Finance Cares gave a presentation on the Human Side of Equipment Finance.

There was a break mid-day for lunch with presentations by the Expo planning committee chair, Rebecca Masserini– Cooper and current Board President, Roderick Knoll. There was a moment of silence for Wayne Moseley, Jr who recently passed. Wayne was a big supporter of the AACFB throughout his career. He will be missed.

During the luncheon, there was a great session on Best Practices as well, where many participants both on the panel and in the audience, shared ideas to make doing business more efficient using tools and programs. There was a lot of discussion around portals and APIs and how there needs to be a secure way to gather application data outside of emails since they are not secure.

Brokering Essentials, presented by Scott Wheeler, was split into two sessions, one each day, to give brokers the opportunity to attend both or just the session that they wanted. I spoke to one broker who had taken the class several years ago but said he attended again because it is so important to keep up with changes. 

The evening reception had great New Orleans food and wonderful opportunities to connect with new contacts as well as old friends.  I saw a lot of people making first time introductions and greeting existing connections.

The final day of the conference was busy with a final opportunity to meet with exhibitors in the hall and attend even more educational sessions. The second part of Brokering Essentials class, Case Studies of Success, Discounter vs. Broker Agreements, and Fintech. There were also two Post Expo Boot Camp sessions: Building your Own Portfolio and Creating Value through Sales and Marketing.

Overall, the feeling seems cautiously optimistic. There has been a lot of upheaval over the past several months but the sense was that we were coming out of these uncertain times. Now is the time to take advantage of new opportunities and set ourselves up for success.

The AACFB set up great educational sessions and plenty of opportunities to network during the Expo.  No one let the heavy rain in New Orleans dampen their spirits nor their opportunities to make meaningful connections and get important ideas to help set them up for success. 

Vicki Shimkus
Broker Relationship Manager
Balboa Capital
Vicki.shimkus@balboacapital.com

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Conference Attendance
By Scott Wheeler, CLFP

Savvy business leaders in the commercial equipment finance and leasing companies are boldly moving forward. They are focused on current opportunities and positioning their companies for growth in 2025 and beyond.

These conferences are important opportunities to re-discover industry best practices, to best understand service products which can expedite corporate strategies, and to re-connect with partners (funding sources and capital resources).

I have attended industry conferences for forty years and I have always benefited from my engagement with other industry leaders. My first conference was an ELA (ELFA) conference in 1984. I have attended NEFA/EAEL conferences since 1989 and my first NAELB/AACFB conference was in the mid 1990's. I have attended these conferences as an originator, sales manager, bank executive and service provider.

I gave two panel discussions at the AACFB Conference in New Orleans, Louisiana, as Vicki Shimkus, CLFP reported. They were well attended.

In 2024, attending an industry conference is an investment in yourself and an investment in success for your company and your team. I will be attending the following conferences and am pleased to schedule an appointment for a one-on-one meeting. Contact me at Scott@wheelerbusinessconsulting.com to schedule a time.

October 27-29, 2024
ELFA 63rd Annual Convention
J.W. Marriot Austin, TX
"Next Level Success"
Click here for information

November 11-14, 2024
NEFA Fall Conference
J.W. Marriot Indianapolis, IN
"Victory Requires Investment"
Click here for information

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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New Hires/Promotions in the Leasing Business
and Related Industries

Dan Hink was hired as Relationship Manager, Verdant Commercial Credit, Cincinnati, Ohio. He is working remote. Previously, he was Sales Manager, Macquarie Group (November, 2020 - September, 2024). He joined Wells Fargo Financial Leasing, August, 1997, Program Manager, promoted Sales (February, 2004 - January, 2005).
https://www.linkedin.com/in/dan-hink-8030548/

Tony Luparello, Relationship Manager, Verdant Commercial Credit, Cincinnati, Ohio. He is located in Westwood, New Jersey.  Previously, he was Regional Sales Manager, Macquarie Group (November, 2020 - September, 2024); Regional Sales Manager, TIAA Bank (March, 2012 - November, 2020). Full Bio: https://www.linkedin.com/in/tony-luparello-141249b/details/experience/
https://www.linkedin.com/in/tony-luparello-141249b

Jon Petroff was hired as VP Credit Officer, Sumitomo Mitsui Finance and Leasing Company, Limited. He is located in Chandler, Arizona. Previously, he was at Wells Fargo, starting April, 2008, Lead Underwriter, promoted Equipment Finance Underwriting Manager (December, 2021 - June, 2024); Senior Credit Officer, CIT (May, 2000 - March, 2008).

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

Common Mistakes to Avoid in Your Career
By Ken Lubin, Managing Partner, ZRG Partners

Your career is a lifelong journey that requires careful navigation. While there is no single "right" path, there are some common pitfalls you'll want to avoid along the way. Making missteps can derail your progress or leave you stuck in an unsatisfying job. Be mindful of these common career mistakes as you chart your own course:

Job Hopping Too Frequently: It's tempting to jump ship at the first sign of trouble or boredom in your job. However, switching roles too often can damage your resume. Recruiters may see you as unstable or unable to commit. Try to stick with each role for at least a year or two to build your skills and show you can thrive in one workplace. Frequent job changes suggest you may have trouble dealing with workplace challenges or collaborating with colleagues.

Not Networking Enough: Many people find their next job or career break through connections, not just formal applications. But nearly half of workers say they spend only 1 hour or less per week networking. That's not enough to build solid relationships. Carve out time each week to catch up with colleagues, attend industry events, and expand your circle. Nurture both strong ties (close friends) and weak ties (casual acquaintances) to maximize your reach.

Not Seeking Mentors: Mentors provide insider knowledge you can't get from books. They can give candid feedback to enhance your skills. Mentors explain unwritten workplace rules and help you navigate office politics. Without guidance, you could miss out on key promotions or stretch assignments to showcase your abilities. Experienced mentors know how things really work behind the scenes. Seek them out starting early in your career.

Ignoring Your Own Needs: It's easy to get caught up in ambition and say "yes" to every project. But burning out won't do your career any favors. Learn to set boundaries and advocate for your own needs too. Make sure your workload is sustainable. Take regular vacations to recharge. Don't hesitate to speak up when things get unreasonable. You'll be far more productive with good work-life balance.
By being mindful of these pitfalls, you can avoid some common career setbacks. Don't job hop recklessly, isolate yourself from networks, neglect mentors, or ignore your personal needs. Making smart strategic choices will help your long-term career growth.

Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
https://www.linkedin.com/in/klubin

 

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Professional sports teams earn hundreds of millions in revenue each year, driven by sponsorship deals, ticket sales, and shared media and broadcasting rights.

The above graphic shows the highest-earning sports teams across each major league, based on data from Forbes compiled by JP Morgan Asset Management.

The NFL’s Highest-Earning Sports Teams

As the below table shows, the Dallas Cowboys earned a stunning $1.1 billion in revenue in 2022, the highest across any other team in North America by far.

Ranking in second are the Las Vegas Raiders, whose valuation has soared from $1.4 billion in 2015 to over $6.2 billion in 2024. The team moved from Oakland to Las Vegas in 2020, making the $1.9 billion Allegiant Stadium their home.

Together, the top five highest earning NFL teams generated $3.9 billion in revenue in 2022, outpacing the top five in all other leagues by over $1 billion.

Highest-Earning Teams in the NBA

San Francisco’s Golden State Warriors are the richest sports team in the NBA, bringing in $765 million over the 2022-2023 season.

Thanks largely to the star power of Stephen Curry, Draymond Green, and Klay Thompson, the Warriors were the second-highest earning team across the big four leagues. Over the last five years, the Warrior’s revenue has grown by 14% annually, the fastest rate in the league.

The MLB’s Highest-Earning Sports Teams

When it comes to the MLB, the New York Yankees take top spot, outpacing the Los Angeles Dodgers by $130 million in revenue in 2022.

Unlike other major leagues, the MLB does not have a salary cap and there is less revenue sharing across teams. These factors significantly influence the gap between the most and least valuable teams in the league. For instance, this gap is 7.6 times in the MLB compared to roughly 2.5 times in the NFL and NHL and 3.2 times in the NBA.

The Highest-Earning Teams in the NHL

The Toronto Maple Leafs and the Edmonton Oilers each earned roughly $281 million over the 2022-2023 season, making them the richest teams in the NHL. However, they surpassed other leading teams by a narrow margin.

With a $2.8 billion valuation, the Maple Leafs are the most valuable in the league, edging past the New York Rangers for the first time in eight years.

In November 2023, the Ontario Municipal Employees Retirement System acquired a 5% stake in the Maple Leaf’s parent company. The pension fund is one of the largest in Canada, managing $36 billion in assets.

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Mapped: U.S. States With the Most
Million-Dollar Homes

Million-dollar homes are becoming more common with the U.S. having 621 cities where a typical home is worth $1 million or more.

While high interest rates have caused commercial real estate prices to fall, it hasn’t had the same impact on the residential market. Housing inventory has increased but it still remains below average historical levels. At the same time, while mortgage rates have fallen, U.S. home prices continue to climb, nearing record highs.

California has more million-dollar cities than the next four states combined with Atherton standing as the most expensive city where a typical home costs $7.5 million.

Today, a typical home in California costs more than twice as much as a typical U.S. home with residents paying almost $6,000 on monthly payments for a newly-purchased mid-tier home. These costs include mortgage payments, homeowners insurance, and taxes. Since February 2023, the state has added 20 cities where a typical home costs $1 million or more.

Following next in line is New York with 76 million-dollar cities. A separate report shows that the price of single- family homes jumped by 10.9% annually since the first quarter of 2023, giving the state some of the fastest-rising house prices in America.

Ranking in third is New Jersey which saw one of the greatest increases in million-dollar cities overall since February 2023.

As we can see, there are 15 states without any million-dollar cities, mainly in the Midwest and South. These states are known for having greater housing affordability and a lower cost of living, but fewer job prospects amid weak labor market activity.

Source: Visualcapitalist

Labrador Retriever & Husky Mix
Fort Collins, Colorado  Adopt-a-Dog

Benson
Male
Tricolor (brown, black, white)
26.2 lbs.
5 months old
26.2 lbs.
Short Coat
House Trained
Neutered
Vaccinatons up-to-date
Good in Home with dogs,
   children
Characteristics
Affectionate, Athletic, Curious,
 Friendly, Funny, Gentle, Loves,
 Playful, Loyal, Smart
Adoption Fee: $575

Meet Benson

Check out this adorable 26.2-pound sweetie born on April 10th. Benson is a doll of a little boy who loves some cuddles and belly scratches. He loves to romp with his littermates in the yard and adores his toys. Benson is sweet and submissive. He potties outside and is learning to walk on a leash, but it is not his favorite thing at the moment. He would do best in a home with a fenced yard and a person who can continue his training and socialization so that he grows to be the best boy he can be.

S.T.A.R. Group, Inc is a foster based organization located in Corpus Christi, TX. All pets are in a foster home in South Texas and are transported once adopted. Our animals are listed in different cities throughout the country.

Adoption Fee includes a microchip, all age-appropriate vaccines, spay/neuter, current on recommended preventions and a ride on the next available transport to their new families' area. Applications are processed in the order they are received. S.T.A.R. Group is made up of volunteers, so please give us a couple of days to begin processing your application.

South Texas Animal Rescue Group
AKA S.T.A.R. Group Rescue
Fort Collins, CO
StarAdoptionTeam@gmail.com

Application:
StarAdoptionTeam@gmail.com

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/

News Briefs

U.S. Incomes Climbed Last Year, Census Bureau Says
    Household incomes rose 4% from 2022 to 2023
https://www.wsj.com/economy/consumers/household-income-2023-census-report-38b7d21d

Apple owes $14.4 billion in Irish taxes,
    EU court rules
https://www.courthousenews.com/apple-owes-14-4-billion-in-irish-taxes-eu-court-rules/

Southwest Airlines chairman to retire, 6 board
    members to resign after push from major shareholder
https://www.cbsnews.com/texas/news/southwest-airlines-shakeup-board-chairman-gary-kelly/

BMW shares fall to four-year low as
    recall of 1.5m cars announced
https://www.theguardian.com/business/article/2024/sep/10/bmw-shares-fall-recall-braking-fault

DOJ files amended complaint in antitrust suit versus        
    Ticketmaster-Live Nation: 40 states now involved
https://legalnewsline.com/stories/664079162-doj-files-amended-complaint-in-antitrust-suit-versus-ticketmaster-live-nation-40-states-now-involved

Illinois postal trucking contractor
    with 480 drivers abruptly ceases operations
https://postaltimes.com/illinois-postal-trucking-contractor-with-480-drivers-abruptly-ceases-operations/

 

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Fed to cut biggest banks’ capital hike
    by half in overhaul
https://www.bostonglobe.com/2024/09/10/business/fed-cut-biggest-banks-capital-hike-by-half-overhaul/

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Sports Briefs---

Judge orders former NFL star Adrian Peterson
    to turn over assets to pay $12 million debt
https://www.pressdemocrat.com/article/trending/judge-orders-former-nfl-star-adrian-peterson-to-turn-over-assets-to-pay-12/

49ers’ Christian McCaffrey has Achilles tendinitis,
   is day-to-day ahead of Vikings matchup
https://www.sfchronicle.com/sports/49ers/article/49ers-christian-mccaffrey-play-vikings-week-2-19752540.php

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California News Briefs---

Willie Brown, Art Agnos and Frank Jordan on what
    they’re looking for in S.F.’s next mayor
https://www.sfchronicle.com/election/article/san-francisco-mayor-race-19748340.php

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Gimme that Wine

 

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

4 local Merlots that even Miles in ‘Sideways’
  would love,  20 years after the hit film “Sideways"
https://www.pressdemocrat.com/article/lifestyle/sideways-merlot-wine/

Unique harvest experiences in Sonoma County
"list of vineyard adventures"
https://www.pressdemocrat.com/article/lifestyle/unique-winery-experiences-sonoma/

Early report and favorite photographs of
the start of the 2024 Lodi harvest
https://www.lodiwine.com/blog/Early-report-on-the-2024-Lodi-harvest

Quintessential Expands Partnership With Goose Ridge
Estate Winery, Adds Monson Ranch Distillers
https://www.winebusiness.com/news/article/292222

The 2024 Central Coast Harvest is a Bit Early
and a Bit Light by Katherine Martine
https://www.winebusiness.com/news/article/292250

Sonoma's La Crema Winery wins Marie Claire
Sustainability Award 2024
https://www.winebusiness.com/news/article/292228

Can the most popular red wine in the U.S.
endure climate change?
https://www.npr.org/2024/09/09/nx-s1-5002055/wine-cabernet-napa-climate-change

Tiny coastal Calif. town becomes travel darling
overnight
https://www.sfgate.com/travel/article/coastal-calif-town-elk-best-food-wine-19755430.php