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######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

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New Hires/Promotions in the Leasing Business
and Related Industries

Chris Gordon was hired as Head of Technology, Summers Engineered Capital, Nashville, Tennessee, where he is also located. Previously, he was AI Release Train Engineer (January, 2024 - August, 2025); Technical Product Owner (January, 2022 - January, 2024); Travel, Career Break (June, 2022-
August, 2022). Full Bio:
https://www.linkedin.com/in/cgibsonp/details/experience/
https://www.linkedin.com/in/cgibsonp/

Tom Holgate hired as President of Lobel Financial, Fresno, California. He is located in the Denver Metropolitan Area. Previously he was Co-Founder KATEY), (July, 2023 - Present); Executive Vice President, Auto Finance & Insurance, Way.com (November, 2023 - September, 2025); Chief Executive Officer, I Lending (May, 2019 - July, 2023): Chief Operating Officer, BFS Capital (February, 2017 - May, 2019). Full Bio:
https://www.linkedin.com/in/tomholgate/details/experience/
https://www.linkedin.com/in/tomholgate/

Simon Malinski was hired as Sales Manager, KLC Financial, Minnetonka, Minnesota. He is located in Minneapolis, Minnesota. Previously, he was Director, Bremer Bank (March, 2022 -September, 2025)'. He joined Wells Fargo December, 2005, Vice President, Asset Backed Securities (ABS), promoted January, 2014 Corporate, Municipal, and Escrow Solutions, promoted Middle Market Vendor Finance (2016 - March, 2022). Full Bio:
https://www.linkedin.com/in/simonmalinski/details/experience/
https://www.linkedin.com/in/simonmalinski/

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Structure Over Pricing:
A Lesson Top Originators Never Forget
By Scott Wheeler, CLFP

n the commercial equipment finance and leasing industry, top originators distinguish themselves by mastering both pricing and structure. It’s not enough to know your own offerings—true expertise lies in understanding the broader market and positioning your solutions within that competitive landscape.

A strong originator knows:

The market—not the company—sets the appropriate yield for a given risk.
Structure often outweighs yield in determining the success of a transaction.
Different structures can unlock cash flow advantages, mitigate risk, and address the unique needs of individual clients.

Yet, too many seasoned professionals forget this foundational truth: structure wins deals. Comparing payments without understanding the underlying structure is like comparing apples to bubble gum—irrelevant and misleading. Every originator learns early on that deals are lost more often because of poor structure than to pricing alone. And yet, even veterans occasionally lapse into assumptions that cost them business.

Recently, a seasoned originator reached out in frustration. His company had suddenly become “uncompetitive,” losing a deal to a long-standing client. His competitor’s quote appeared to be 200 basis points below his required yield. But when asked, “What structure did the competitor offer?”—he had no answer. He assumed it was the same structure he had previously used to win similar deals.

Upon further investigation, he discovered the competitor’s structure was significantly different. In fact, the competitor’s actual yield was 50 basis points higher—but the structure delivered a lower payment and better alignment with the client’s needs. Unfortunately, the discovery came too late. The deal was already documented and funded.

Never assume your pricing is uncompetitive. Instead, assume your competitor is offering a different structure. The ability to accurately compare structures—not just payments—is what separates top originators from average producers.

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

Leasing and Finance Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now

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Workplace Trends: How Careers are
Evolving in the Age of Technology
By Ken Lubin, Managing Director, ZRG Partners

The workplace is changing rapidly due to advances in technology, automation, and artificial intelligence (AI). These disruptive forces are leading to major shifts in the job landscape now and in the future. Here are some of the key trends that are transforming careers and skill demands in the modern workforce:

Rise of Automation: Repetitive, routine tasks are increasingly being handled by automated systems powered by AI and machine learning. Jobs that involve a lot of predictable physical work or data processing are most susceptible to automation. This includes positions like assembly line workers, clerks, cashiers, telemarketers etc. The upside is that automation frees up human time and energy for higher-level work. The challenge is displaced workers may need retraining.

Growing Demand for Tech Skills: As companies adopt new technologies, there is a pressing need for talent with skills in areas like data analytics, cyber security, cloud computing, machine learning etc. Tech-focused roles like data scientists, IoT engineers, and AI developers are highly sought after. Even non-tech roles now look for some degree of digital literacy. Lifelong learning is essential to stay updated.

Rise of Alternative Business Models: The traditional 9-5 office job is changing. Alternate models like remote work, freelancing, and gig economy jobs are becoming more mainstream. Permanent jobs are declining while temporary and contract-based projects are increasing. This provides flexibility but less stability. Self-driven professionals who can thrive in flux will adapt best.

Need for Human Skills: Despite automation, human skills like critical thinking, creativity, emotional intelligence and design thinking remain hard for technology to replicate. Jobs that require these intrinsically human strengths will be invaluable. Empathy, leadership, entrepreneurship - these skills will only grow in demand.

Blurring Industry Lines: Career trajectories are no longer linear or confined to one industry. Domains like healthcare, finance and engineering are integrating with each other, as technology converges. Cross-functional roles, diverse experiences and outside perspectives will be advantageous. An interdisciplinary outlook is beneficial.

The workplace evolution is well underway. Emerging technologies are disrupting old norms and creating new opportunities. Adaptability and learning agility will be essential as we navigate this sea change. By cultivating future-ready skills, we can all thrive in the careers of tomorrow.

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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A Classic Mexican Chain Goes Bankrupt
By Leah Groth Eat This, Not That!

Abuelo’s files for Chapter 11 bankruptcy after years of declining sales and rising prices.

It has been a tough decade for the restaurant business. A global pandemic, which resulted in months-long dining disturbances, inflation, rising food costs, and less disposable income, has made operating costs more expensive while demand has diminished for many markets. As a result, several restaurants have gone out of business, and even major chains have filed for bankruptcy. This week, another casual dining chain filed for bankruptcy.

On Tuesday, Abuelo’s, a regional 16-unit Mexican concept based in Lubbock, Texas, filed for Chapter 11 bankruptcy. The chain cited declining sales, rising costs, staffing challenges, and changing consumer preferences for the filing, listing debts and liabilities of between $10 million and $50 million. Lubbock-based Food Concepts International, owner of Abuelo’s, also filed for bankruptcy, requesting that the court combine it.

Abuelo’s was founded in 1989 in Amarillo, Texas. It specializes in made-from-scratch Mexican delicacies served in an upscale, Mexico-inspired setting. Many restaurants are themed after open-air courtyards filled with statues and greenery.

At its peak, Abuelo’s operated 40 locations. The chain started struggling in 2009, but the pandemic proved fateful. By the end of 2024, only 20 were remaining. According to Abuelo’s website, only 16 restaurants operate in seven states. According to Technomic, sales have fallen more than 15% last year.

While Chapter 11 has been filed, there has been no mention of any more restaurant closures. In March 2025, Mexican chain On the Border filed for Chapter 11 bankruptcy, closing over 12 restaurants across the country. According to data, it currently operates half as many restaurants as it did at the end of 2023. According to Fast Company, On The Border’s president, Chris Rockwood, explained that the “restructuring is the best path forward for On The Border. It allows us to address several financial and operational challenges and emerge stronger and re-focused on our growth.”

Tijuana Flats filed for Chapter 11 in April 2024. After shutting 40 locations, the brand switched to new ownership and made significant changes, including exciting new menu options. “Tijuana Flats is so back and better than ever,” the company wrote in a recent Instagram post. “We have been listening to all of the feedback and have been working on improving key pieces of our menu and bringing back fan favorites like our Mexican rice and Pico!⁠ We hope to see you soon to give us a try.”

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Financing Cannabis Funding Sources
Many Work with Third Party Originators

Alliance Commercial Capital
Alternative Finance Network
Cannabis Equipment Leasing
International Financial Services (IFS)
NEC Financial Services
Number One Enterprise
Slim Capital
Vertical Companies

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California’s Minimum Wage Rate Set
to Rise to $16.90 in 2026
by: Christopher W. Olmsted, Zachary V. Zagger of Ogletree,
Deakins, Nash, Smoak & Stewart, P.C.- The National Law Review
(Major Change Coming)

Starting January 1, 2026, California’s minimum wage rate will rise to $16.90 per hour, reflecting a 2.49 percent adjustment based on federal inflation data. (It influences certain white-collar wages with an increase, as this article explains - Editor).

Employers should prepare for the upcoming wage adjustment and remain aware of existing higher minimum wage rates for fast-food workers and various municipalities throughout California.

The increase is slightly less than the $0.50 increase from the prior year, but it could still be significant for employers, as California’s minimum wage rate has increased significantly over the past decade, more than doubling from $8.00 per hour in 2014.

Under California Labor Code section 1182.12 (c), California’s director of finance must annually calculate an adjustment to the state’s minimum wage rate before August 1 of each year, following California’s adoption of a $15.00 minimum wage rate on January 1, 2023. By law, the adjustment must be the lesser of 3.5 percent or the rate of change in the U.S. Consumer Price Index for Urban Wage Earners and Clerical Workers (U.S. CPI-W), which increased 2.49 percent for the period of July 1, 2024, to June 30, 2025, from the prior twelve-month period.

The 2026 increase comes after California voters in November 2024 rejected a ballot proposition that would have raised the state minimum wage rate for all employees to $18.00 per hour by January 1, 2026. Opponents of that proposition had argued that the increases would lead to higher prices for everyday products, higher costs for small businesses, and job cuts.

However, since April 2024, a higher $20.00 per hour minimum wage rate has applied to workers at most fast-food restaurants in California under the California Food Accountability and Standards Recovery Act (FAST Recovery Act). Furthermore, certain healthcare workers are subject to a higher minimum wage pursuant to Senate Bill (SB) No. 525, which became effective in October 2024. Additionally, several municipalities in California have minimum wage rates that exceed the state requirement.

The increase in the minimum wage will also cause an increase in the minimum salary payable to certain white-collar, exempt employees under California wage laws. The new minimum salary will rise to an annualized $70,304 from $68,640 per year (an increase of $1,664).

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