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You Can "Doooo" That?

When I first entered the equipment leasing business over 25 years ago, one of the most revealing things about this industry was learning how many different things could be leased. If the item is removable personal property, it is leasable. And that includes such unlikely items as fruit trees, fencing, and, yes, dairy cattle.  We have done airplanes, beef jerky manufacturing equipment, equipment that is used to manufacture the Patriot missile, motor homes, luxury cars but never any livestock!  Dairy cattle leasing is actually a pretty good business. At the end of the lease, a well-maintained herd should be larger than at the beginning,...

Fed May Raise Rates By Year End

When will the Fed begin to raise interest rates? Six and a half years ago the Federal Reserve put its benchmark interest rate close to zero, as a way to bolster the economy. But that policy is expected to change. It’s a “liftoff” – to use the Fed’s own term – that’s getting the kind of attention that space aficionados once lavished on NASA rockets.  Fed officials left rates unchanged after meeting in September, but when they do make their announcement, it will have lasting consequences. The last time the Fed raised interest rates, in June 2006, Facebook was mainly for college students and had one-tenth the users of Myspace. The Federal Reserve’s decision to raise the federal funds rate will be akin to a doctor’s decision that a patient is well enough to be...

Watch Out For This Potential "Hidden Clause" of You're Next Lease Contract!

There are some pretty sketchy practices in the equipment finance industry. Since financial services are complex and have lots of funky terms that industry "outsiders" don't necessarily understand, most segments of the industry have a certain amount of bad seeds running around. However, bigger industries like mortgage and insurance are pretty tightly regulated, so when someone is caught breaking the rules, they tend to go to jail and get their name in the newspaper. Equipment leasing companies aren't regulated at all, so it's a lot easier to scam you when you are financing equipment than in a lot of other areas. For many finance products, it's pretty safe to just go with a bigger company - the guys who use Snoopy to sell you insurance aren't as likely to be crooks as the...

4th of July Is Independance Day

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Drafted by Thomas Jefferson between June 11 and June 28, 1776, the Declaration of Independence is at once the nation's most cherished symbol of liberty and Jefferson's most enduring monument. Here, in exalted and unforgettable phrases, Jefferson expressed the convictions in the minds and hearts of the American people. The political philosophy of the Declaration was not new; its ideals of individual liberty had already been expressed by John Locke and the Continental philosophers. What Jefferson did was to summarize this philosophy in "self-evident truths" and set forth a list of grievances against the King in order to justify before the world the breaking of ties between the colonies and the mother country.

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