New Hires/Promotions in the Leasing Business
and Related Industries

Richard Henderson was hired as Chief Executive Officer at BriteCap Financial, North Hollywood, California. He is located in Portsmouth, New Hampshire. Previously, he was Chief Revenue Officer, CAN Capital (February, 2021 - July, 2024); First Vice President, Head of Direct Originations, Marlin Capital Solutions (September, 2015 - June, 2020); Senior Vice President, Franchise & Hospitality Finance, Direct Capital, a Division of CIT Bank, N.A.; President, Equipment Financial Services (March, 2010 - February, 2013). Full Bio:
https://www.linkedin.com/in/richardhendersonjr/details/experience
https://www.linkedin.com/in/richardhendersonjr/

Kara Miyasato was promoted to Senior Director, Marketing, Stryker, Leesburg, Virginia. She is located in the Washington, DC-Baltimore Area. Previously, she was Director, Downstream Marketing, Spine Enabling Technologies (2022 - September, 2024); Director of Marketing, Flex Financial (July, 2019 - May, 2022). She joined the company March, 2010.
Full Bio: https://www.linkedin.com/in/karamiyasato/details/experience/
https://www.linkedin.com/in/karamiyasato/

Peter Mazzei was hired as Chief Corporate Development Officer, Armada Credit Group, Inc., Mississauga, Ontario, Canada. He is located in Etobicoke, Ontario, Canada. He remains President of Pivotal Capital Corporation, where he started March, 2018, as Managing Director, Credit.  Previously, he was Senior Vice President, ECN Capital Corporation (October 2016 - Februarys. 2018). Full Bio:
https://www.linkedin.com/in/peter-mazzei-5064256/details/experience/
https://www.linkedin.com/in/peter-mazzei-5064256/

Violet Misajlovich, CLFP, was hired as Retail Finance Manager, Alta Equipment Company, Livonia, Michigan. She is located in the Detroit Metropolitan Area. Previously, she was Customer Service Manager, Milestone Bank (formerly LCA Bank), starting as Documentation Specialist (June, 2015 - July, 2018).
https://www.linkedin.com/in/violet-misajlovich-clfp-27073237

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CLFP Foundation Expands Access
with New Scholarship Program

The CLFP Foundation is proud to announce the launch of its scholarship program, designed to support individuals who aspire to earn the Certified Lease & Finance Professional (CLFP) designation, but may be facing financial hardship. In keeping with its mission to build a better industry, the CLFP Foundation is offering scholarships that cover the cost of essential resources like the CLFP Handbook, the Audiobook, the Academy for Lease & Finance Professionals (ALFP), the CLFP Exam, or a combination of these.

For more information on how to apply for the scholarship, please visit https://clfpfoundation.org/scholarship/ or contact scholarships@clfpfoundation.org for questions and inquiries.

In 2025, the CLFP Foundation will celebrate the 40-year milestone of the designation and is committed to making the CLFP designation more accessible than ever before. The scholarship program ensures that financial limitations won’t stand in the way of professionals looking to elevate their careers in the equipment leasing and finance industry. Whether applicants are just beginning their CLFP Journey or are already on their way, this support will empower them to access the tools and knowledge they need for success.

This initiative reflects the Foundation's dedication to advancing industry standards while investing in the professional growth of individuals. The CLFP Foundation remains steadfast in its belief that by nurturing talent, it is building a brighter future for the entire industry—one individual at a time.

For more information on how to apply for the scholarship, please visit https://clfpfoundation.org/scholarship/ or contact scholarships@clfpfoundation.org for questions and inquiries.

The CLFP Foundation is a certification institute for the leasing and finance industry. It promotes the highest standard of professionalism within the industry by providing an objective, rigorous, and comprehensive certification program.  The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the commercial equipment finance industry. There are Certified Lease & Finance Professionals and Associates located throughout the United States (including Puerto Rico), Canada, India, Pakistan, Africa, and Australia. For more information, visit http://www.CLFPFoundation.org

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

Follow Up
By Scott Wheeler, CLFP

How often do you contact your vendors and end-users?

The true answer is probably, "Not enough." One of the most common questions from originators is, "How often should I follow-up with my clients?" Below are some comments:

Vendors have transactions on their desk every day. (The benefit of calling on a vendor is that they know who is buying now). If you haven't spoken to a vendor in over 30 days, a competitor is funding the transactions he is working on over that period. If you sincerely believe that you are a perfect financial solution for a specific vendor and you have not spoken in a few days, then it is time to call and interject yourself into his sale cycle.

• End-users buy equipment on a regular cycle. Many businesses' buying cycles are highly predictable. If an end-user indicates in August that she will be buying equipment before the end of the year, then by mid- September, there should have been multiple touches and contacts with the end-user to start the process.

• I often ask originators, "How many prospects do you maintain in your database?" The number is usually quite large. However, the more important question is, "How many of those prospects have been contacted with meaningful conversations in the past 30 or 45 days?" Out of sight out of mind. Don't let your competitors take business away because of your lack of follow-up.

• As a sales manager, one of my favorite calls was when a vendor or end-user called to complain about a specific originator who was following up too often and aggressively. I would explain to the client that I would instruct the originator to back off. Additionally, I would explain that he was doing exactly what I had hired him to do, "Staying in front of his prospects." A good end-user or vendor will let you know when the line has been crossed. Usually, vendors and end-users will have a counter comment that they wished their sales reps were more aggressive and communicated more often with their clients. Point made.

Today's market requires aggressive origination skills. Don't let a transaction or relationship slip away because of a weak follow-up strategy. Be confident that your solution is superior and that now is the time to move the transaction and the relationship forward. I suspect you have some follow-up tasks to complete today.

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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 Major Commercial Finance/Leasing
 Finance Conferences

“The National Vehicle Leasing Association (NVLA) provides opportunity, promotes responsible legislation, and communicates with members regarding developments and trends in vehicle leasing.  NVLA encourages the highest ethical and professional standards.”

Oct. 16-18: NVLA Conference, Clearwater Beach, Fl.
https://www.nvla.org/page/2024conference
Keynote Speaker Michelle "Mace" Curran, Combat Veteran, Former USAF Fighter Pilot
https://leasingnews.org/archives/Jul2024/07_12.htm#nvla
Women in Leasing Picking Up Steam
https://leasingnews.org/archives/Sep2024/09_06.htm#women 
Sloan Schickler, Esq., Schickler & Schickler, will be covering the conference for Leasing News. She is also presenting there.

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX
Just added! Check out the Industry Breakout Sessions on Monday and Tuesday
https://www.elfaonline.org/education-networking/2024/annual-convention/schedule
Full Education Session Lineup
https://leasingnews.org/archives/Sep2024/09_09.htm#elfa
Now Over 800 Registered:
List of 800 Registered to Date 09/06/24
Bruce Kropschot, Senior Managing Director, The Alta Group, will be covering the ELFA Convention, as he has done for Leasing News for many years.

Nov. 6, 2024, Brokers Expo, New York City
Join Us at Brokers Expo NYC- You Don't Want to Miss This
https://myemail-api.constantcontact.com/Join-Us-at-Brokers-Expo-NYC---You-Don-t-Want-to-Miss-This.html?soid=1133130637774&aid=wV4AHtx4SMI

Nov. 11-14: NEFA Fall Conference, Indiana
Special Registration for members and those who will come one by November 11th, Plus Speakers. And programs
https://myemail-api.constantcontact.com/Join-Us-at-Brokers-Expo-NYC---You-Don-t-Want-to-Miss-This.html?soid=1133130637774&aid=wV4AHtx4SMI
Don Cosenza, CLFP, Senior Vice President of North Mill Equipment Finance, will be covering the conference for Leasing News

To be listed or update: kitmenkin@leasingnews.org

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Ranked: Top Companies by Global
Smartphone Market Share

This graphic shows the top companies by global smartphone market share, based on data from the IDC Worldwide Quarterly Mobile Phone Tracker report.

As South Korea’s largest public company, Samsung has integrated AI features such as real-time translation for calls and generative photo editing. Meanwhile, Apple is launching features that allow users to point their phone at a restaurant that will then describe what’s on the menu using Apple’s A18 chips.

Samsung Reigns Supreme in the Smartphone Market

Below, we show the leading smartphone companies globally as of the second quarter of 2024:

As noted, Samsung currently holds the largest share of the smartphone market in 38 countries worldwide, surpassing Apple, which leads in 16 countries.

In particular, Samsung takes top spot in Singapore, Taiwan, and Hong Kong—where Apple had previously dominated. It also makes up more than 40% of the smartphone market in countries such as Brazil and Chile.

However, despite being the global leader for years, Samsung’s market share has declined from 24.8% to 18.9% over the past decade. This drop is due to Apple’s expanding global presence and the rising competition from Chinese smartphone makers.

In 2023, Apple overtook Samsung in global market share for the first time, selling 232 million iPhones compared to Samsung’s 227 million. However, the first place title was short-lived, and Apple now ranks second globally today thanks to slowing iPhone sales due to weaker demand in China. In fact, Apple was displaced from the top five smartphone companies in China for the first time in 2024, overtaken by local brands.

Ranking in third is China’s Xiaomi, making up 14.8% of the global smartphone market. Over the last decade, it has more than tripled its global market share. It is followed by two other Chinese smartphone giants, vivo and OPPO, each selling over 25 million units over the second quarter of 2024.

 Source: 2024 Visual Capitalist

 

Top Ten Most Read by Readers
September 16 to September 20

(1) One Month Ago Today, August, 16, 2024
Chesswood Announces Issuance of Cease Trade Order
https://leasingnews.org/archives/Sep2024/09_16.htm#one

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Sep2024/09_18.htm#hires

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Sep2024/09_16.htm#hires

(4) ELFA Announces Donna Yanuzzi Will Receive
2024 Distinguished Service Award
https://leasingnews.org/archives/Sep2024/09_18.htm#elfa

(5) BriteCap Financial LLC Announces
Richard Henderson as new CEO
https://leasingnews.org/archives/Sep2024/09_18.htm#bc

(6) October 16 - 18 Soaring to New Height
  Clearwater Beach, Florida
By Tarry Shebesta, NVLA President
https://leasingnews.org/archives/Sep2024/09_18.htm#nvla

(7) For Originators at All Levels
By Scott Wheeler, CLFP
https://leasingnews.org/archives/Sep2024/09_18.htm#for

(8) Budgets for base salaries expected to soar
again in 2025 for a third Year in a Row
https://www.cfo.com/news/budgets-for-base-salaries-expected-to-soar-again-in-2025-conference-board/727152/

(9) Signs of an Imminent Layoff
Career Crossroads by Emily Fitzpatrick/RII
https://leasingnews.org/archives/Sep2024/09_16.htm#signs

(10) Survey Finds Top Truck Stop Amenities
Ensuring Safety for Female Truck Drivers
By Tyson Fisher, OOIDA- Land Line
https://leasingnews.org/archives/Sep2024/09_18.htm#survey

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Trump-Era Retaliatory Tariffs
By Katharina Buchholz, Statista

Republican presidential candidate Donald Trump has said that if reelected, he would impose new tariffs on China reaching 60 percent of the goods’ value. After Trump’s tariffs aimed at China in early 2018, retaliation from the country and other nations affected hit the U.S. economy and especially agricultural producers hard. A report from the USDA shows that between mid-2018 and the end of 2019, more than $27 billion, thereof $25.7 billion tied to China, had to be compensated with government payments to farmers. Tariff rates never exceeded 30 percent of goods value in that time period and were as low as 7.5 percent for some products, so an even higher and uniform tariff rate of 60 percent would be sure to send another shock wave through the U.S. business and farming communities.

Back then, the Trump Administration addressed concerns earmarking federal aid worth $28 billion for farmers. Under current President Joe Biden, relief payments continued to rise. Yet, farmer advocates pointed out that the subsidies were going to large farms predominantly, leaving smaller producers out in the rain.

Despite being a critic of Trump’s tariffs initially, Biden kept them and the accompanying truce on the books and even recently passed new restrictions on Chinese trade concerning electric vehicles, which were described as more targeted, however. The Biden Administration has said that it was waiting for China to meet more of the concessions it made to the United States in order to decrease its trade surplus before it would lower or eradicate tariffs. China did purchase more U.S. agricultural products in order to meet its agreement to end the trade war in early 2020. While Chinese tariffs had an immediate downside and a later upside for U.S. farmers, this outcome was not a given and quick ruptures of the market were hard to compensate for many producers in the short and intermediate term. Democratic candidate Kamala Harris has not indicated that she is in favor of new tariffs on Chinese goods.

News Briefs

BofA to Open More Than 165 Financial Centers
    by End of 2026
https://www.prnewswire.com/news-releases/bofa-to-open-more-than-165-financial-centers-by-end-of-2026-302255073.html

Boeing raises its offer to the Machinists to try
    to end the strike
https://www.wsj.com/business/boeing-strike-union-offer-raises-3881ce87?mod=business_lead_pos1

Kmart to close its last remaining store
    in the contiguous U.S. Here's where it is
https://www.cbsnews.com/news/kmart-bridgehampton-last-kmart-close/

The island of Kauai is also known
    as the island that was unconquered
https://www.sfgate.com/hawaii/article/hawaii-island-never-conquered-19774172.php

America's Ambitious Climate Plan Is Faltering
    shift away from fossil fuels slows amid high costs, surging power demand
https://www.wsj.com/business/energy-oil/americas-ambitious-climate-plan-is-faltering-ac833191?st=9h6PQr&reflink=desktopwebshare_permalink

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California is banning plastic grocery bags — again.
    Here’s what’s new this time
https://www.sfchronicle.com/personal-finance/article/california-plastic-bag-ban-2024-19786683.php

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Sports Briefs---

49ers’ Hargrave likely out for year; McCaffrey
    visiting specialist in Germany
https://www.sfchronicle.com/sports/49ers/article/49ers-hargrave-likely-year-mccaffrey-seeks-19786528.php

Kyle Shanahan is getting torched for 49ers'
    special teams gaffes
https://www.sfgate.com/49ers/article/kyle-shanahan-49ers-special-teams-gaffes-19787181.php

A’s owner John Fisher in letter (with typo)
    to Oakland fans: ‘we tried’
https://www.eastbaytimes.com/2024/09/23/as-owner-john-fisher-in-letter-with-typo-to-oakland-fans-we-tried/

A look at some of the longtime employees
    at the Oakland Coliseum
https://www.pressdemocrat.com/article/sports/a-look-at-some-of-the-longtime-employees-at-the-oakland-coliseum/

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California News Briefs---

Gov. Newsom taps Santa Rosa resident to lead
    Napa County veterans home, the largest in US
https://www.pressdemocrat.com/article/napa/newsom-santa-rosa-holtzen-veterans/

California sues Big Oil, alleging ExxonMobil spent
    decades misleading about plastic recycling
https://www.sacbee.com/news/politics-government/capitol-alert/article292911194.html

San Francisco Bay Area gas station owner explains
    how he sells cheap fuel
https://www.sfgate.com/travel/article/story-behind-bay-area-cheapest-gas-station-19778184.php

This well-stocked superstore is the
    largest Japanese market in California
https://www.sfgate.com/la/article/tokyo-central-market-gardena-japanese-food-19768082.php

Mark Zuckerberg celebrates Green Day’s milestones
    at sold-out Oracle Park concert
https://www.sfchronicle.com/entertainment/article/green-day-mark-zuckerberg-19786525.php

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Gimme that Wine

 

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

Desperate California wine growers are slashing prices on  
   grapes. No one is buying, by Jess Lander, Wine reporter
https://www.sfchronicle.com/food/wine/article/grape-growers-prices-california-19771879.php

Riboli Family Wines Bets Big on Pinot Noir
with Famed Doctors Vineyard Acquisition
https://www.winebusiness.com/news/article/292812

2024 video contest finalists—stay tuned for the winner!
Voting is Closed -Tuesday, Sept. 24: 2nd and 3rd place,
plus honorable mentions, will be announced.
Wednesday, Sept. 25: The Grand Prize winner will be revealed.
https://www.winespectator.com/videovoting

Germany's Wehlener Sonnenuhr Recognized as One
of the 10 Greatest Vineyards in the World
https://www.winebusiness.com/news/article/292824