Engage indirect borrowers in 4 simple steps

first_imgMost financial institutions see the enormous benefits that indirect lending can provide. With little impact on your front line staff, and utilizing much of the back end processes that facilitate your direct lending program, indirect lending can increase your auto loan portfolio significantly and introduce your financial institution to a new crop of borrower. However, turning that indirect borrower’s loan into a full relationship can prove challenging.How do you make sure indirect borrowers don’t view their loans with you as a “one and done” transaction? Here are four steps you can take to capture additional business from your indirect lending borrowers and make them think of your financial institution first when they need additional banking and loan products.1. Create a good first impressionPurchasing or refinancing a vehicle can be an arduous process. Borrowers are inundated with numbers and terms they may not fully understand, and usually walk away with paperwork that gets shoved in a drawer and only looked at when it’s time to refinance the vehicle or pay it off. Many times, indirect borrowers may not have a clear understanding of who their new lender is after all is said and done, so make sure your financial institution creates a welcoming start to your new relationship. continue reading » 5SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

The Latest: Dybala is third Juventus player to test positive

first_imgA player earning 40,000 euros ($43,000) net per month would receive 39,000 (about $42,000).Therefore its impact is greater on those on the highest salaries, in terms of lost revenue. A player earning 300,000 euros net per month will only get 252,000 euros from the club plus 5,400 euros from the state for a monthly loss of around 42,600 euros per month. If the suspension lasts a year, this would add up to about half a million euros per year.___The U.S. track federation added its name to a growing chorus of calls to postpone the Tokyo Games because of the coronavirus. The Latest: Dybala is third Juventus player to test positive Associated Press Share This StoryFacebookTwitteremailPrintLinkedinRedditThe Latest on the effect of the coronavirus outbreak on sports around the world:___Paulo Dybala is the third Juventus player to test positive for COVID-19. ___Even though his side could potentially reach the Champions League quarterfinals, Lyon President Jean-Michel Aulas wants the French league to take priority.Matches in both competitions are currently suspended because of the coronavirus outbreak.“If we want to save the (French) league we must absolutely finish before June 30,” Aulas told RTL radio. “You have to make choices, be brave. Drop the Champions League, the (domestic) cup finals and international matches. Concentrate only on the (French) league.”Aulas added: “I want the league to finish. Even in empty stadiums.” In a message on social media, Hamilton says he’s shown “zero symptoms” but has been isolating himself from other people ever since March 13, when the Australian Grand Prix was called off.Hamilton said that “I did speak to my doctor and double checked if I needed to take a test but, the truth is there is a limited amount of tests available and there are people who need it more than I do.”___More AP sports: https://apnews.com/apf-sports and https://twitter.com/AP_Sports,Tampa Bay Lightning advance to face Dallas Stars in Stanley Cup finals, beating New York Islanders 2-1 in OT in Game 6 Gulfstream Park has dropped purses for its seven stakes races on Florida Derby day by 20.5%, saying the changes were necessitated by the loss of on-track handle and revenue from the track’s casino.The biggest hit went to the Florida Derby itself, which was to have a $1 million purse and now will be run next Saturday for $750,000. Purses for the Gulfstream Park Oaks and the Kitten’s Joy were trimmed by $50,000 apiece, now set to be run for $200,000.A pair of smaller stakes — the Cutler Bay and the Sanibel Island — will be run for $100,000 each, down from the originally planned purse of $125,000. The Orchid and the Sand Springs were unchanged, both offering $100,000 purses.In all, Gulfstream’s stakes purses that day will be $1.55 million, down from $1.95 million as originally planned.Gulfstream was dark Friday while updating its safety protocols in response to the coronavirus pandemic. The track in Hallandale Beach, Florida resumed live racing on Saturday even while several top jockeys were choosing not to race because of health concerns. In a letter to the CEO of the U.S. Olympic and Paralympic Committee, USA Track and Field CEO Max Siegel urged the federation to advocate for the postponement of the Games, which are to start July 24. USATF joins USA Swimming, which sent a similar letter to the USOPC on Thursday. The USOPC leadership has been in agreement with the IOC, that it’s too soon to make any decisions regarding postponing the games.___Brazil’s Olympic Committee has called for the Tokyo Olympic Games to be postponed until 2021. ___A member of the Canadian Football League’s B.C. Lions operations department has tested positive for COVID-19. The Lions issued a statement Friday night announcing they were made aware of an employee who has the coronavirus. The person, who has not been named, is currently at home in isolation. The team says the employee was last at club headquarters on March 13. The team remains in constant communication with doctors to determine the best course of action for ensuring the safety of other employees who have been in contact with the infected person.___ The IIHF Council has confirmed that the 2020 Ice Hockey World Championship scheduled to take place in Zurich and Lausanne has been cancelled because of the ongoing coronavirus outbreak.The decision to cancel the tournament didn’t come as a surprise after IIHF President René Fasel acknowledged the likelihood of that happening following an IIHF executive committee conference call Tuesday.Fasel cited numerous challenges facing officials, ranging from health directives in place limiting attendance to travel bans making it difficult for nations to send their teams. Another issue was players lacking practice time, with most of world’s hockey leagues having either indefinitely suspended or canceled their seasons.On Monday, the NHL announced it will wait 45 days before it can provide guidance on when teams can potential reopen practice.“It’s really scary,” said Fasel, who lives in Switzerland. “Europe is just collapsed. It’s really a strange feeling. Our neighbors yesterday, the federal counsel decided to close all the restaurants and everything. It’s like war.” ___The owners of the Boston Bruins say they have established a $1.5 million fund for employees of the team and TD Garden who have lost work because of the suspension of the NHL season.The Bruins were the last team in the league to commit to taking care of part-time and game-day employees.According to a statement from the team, the Jacobs family would help workers “who will be financially burdened if the six remaining regular season Bruins games are not played.”The NHL suspended its season on March 12 in response to the coronavirus pandemic. A second Ottawa Senators player has tested positive for COVID-19. The player was part of the recent road trip that included NHL games in San Jose, Anaheim and Los Angeles.The total number of people on the trip was 52, including players, staff, media, guests and flight crew. Of those on the trip, 44 have shown no symptoms, eight have been tested, and two positive results were received. The team is awaiting more results from tests given over the past three days.Everyone on the California trip was instructed to self-quarantine on March 13. The team says it is actively monitoring the situation and following all appropriate and professional guidelines.___ Lyon leads Italian champion Juventus 1-0 from the first leg of their last-16 match in the Champions League on Feb. 26. The return leg in Turin has not been played because of the outbreak.___Marseille President Frank McCourt wrote to reassure the French soccer club’s employees after they were put on temporary, technical layoffs.“I am taking a few minutes to make sure you and your families are well,” McCourt said. “We are going through this difficult time together and we’re seeing governments getting better and better organized.”Marseille and other top-tier clubs have started putting players on temporary, technical layoffs, which translates to a cut in pay of 16 percent with the state picking up a portion of that to a monthly maximum of 5,400 euros ($5,810). The Brazilian body said in a statement published on Saturday that the decision is a necessity due to the seriousness of the pandemic and “the consequent difficulty for athletes to keep their best competitive level.”It also said that it continues to “trust in the International Olympic Committee.” Brazil organized the 2016 Games in Rio de Janeiro, the first in South America.___Formula One champion Lewis Hamilton says he has been self-isolating for more than a week after meeting people who later tested positive for the new coronavirus.Hamilton was at a charity event in London on March 4 also attended by actor Idris Elba and Sophie Grégoire Trudeau, the wife of the Canadian prime minister. Both were later found to have the virus. Juventus says that the Argentina soccer playmaker is in “voluntary home isolation (in Italy) and he is asymptomatic and fine.”Dybala tweets that both he and his girlfriend Oriana Sabatini both tested positive but that “luckily we are in perfect conditions.”Juventus previously announced that defender Daniele Rugani and midfielder Blaise Matuidi tested positive for the coronavirus.In all, more than 10 Serie A players have been confirmed positive.___ Gulfstream has closed live racing to all fans since March 13. It closed its casino on March 16.___The president of Mexico’s Liga MX soccer league has tested positive for coronavirus. League President Enrique Bonilla said in a statement Friday that he doesn’t have serious symptoms but will remain in isolation and keep up with the situation of Mexican first-division soccer. League matches were suspended this week until further notice to help prevent the spread of the coronavirus pandemic. Mexico has yet to declare legal bans on public gatherings but has encouraged citizens to maintain a healthy distance in crowded places. March 21, 2020last_img read more

Barca Host Real in First El Clasico without Messi, Ronaldo in…

first_img“I hope to still be breathing,” Lopetegui, whose side have gone five games without a win, told reporters. “Everyone is 100 per cent full of energy and my energies are 100 per cent focused on helping the team.”Having been denied the chance to lead Spain into the World Cup after being sacked on the eve of the competition for agreeing to take the Real job, the 52-year old is adamant that the game is the biggest of his managerial career.“Nothing compares to it,” he said. “In footballing terms of course it’s a game with huge expectation and it’s the highest level.”Defeat would see Real fall seven points behind their second-placed rivals (with a game in hand), just 10 games into the campaign, but Barca boss Ernesto Valverde is wary of “wounded” opponents.“The more wounded Real Madrid are, the more dangerous they are,” Valverde said. “They have the quality to come back and they are a great team. I am expecting Real Madrid at their best.“We are coming off the back of two good performances and we are looking at El Clasico to round off a great week.”Messi’Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram Kick-off: 4:15pmBarcelona and Real Madrid will play the first El Clasico without both Lionel Messi and Cristiano Ronaldo in 11 years when they meet in La Liga today. With Messi injured and Ronaldo now at Juventus, both sides will be looking for a different source of inspiration in the afternoon clash at the Nou Camp.Real Madrid are a club in crisis following their worst start to a La Liga season in 17 years and boss Julen Lopetegui was faced with more questions about his future on the eve of the showdown.last_img read more

Felix Pena, Ryan Yarbrough show pitching in bulk can be a winner

first_imgYarbrough is glad to be part of the organization that was first out of the gate.”Like we saw last year, everyone was like, ‘This is ridiculous, outrageous,’ and then obviously you see a lot of teams starting to use it this year because they see how successful it has been, so, just kind of being in the forefront of all that is really great,” he told SN. “They’re just trying to put us in great position to win ballgames, and that’s really all you can ask for from a front office.”This article has been updated with quotes from Ryan Yarbrough, who spoke with SN’s Joe Rivera at Yankee Stadium. Felix Pena typically leaves the game in the middle innings when he pitches, but Friday was not a typical night.First, the memory of Pena’s late Angels teammate Tyler Skaggs was pushing him to succeed; second, he was pitching hitless ball, and the pitcher who preceded him, Taylor Cole, had done the same.  After Pena’s fourth inning of work — the top of the sixth — a no-hitter watch was on. Would LA manager Brad Ausmus decide that Pena had done enough and then turn the game over to his late-inning relief crew? MORE: Watch ‘ChangeUp,’ a new MLB live whiparound show on DAZNAusums decided to go old-school — as old-school as a combined no-no can be, anyway. He kept sending Pena to the mound, and Pena kept working hitless frames. Ausmus gave Pena the ninth.On his 81st pitch of the game, Pena retired the Mariners’ Mallex Smith on a grounder to second. The combined no-hitter was complete. So was the greatest opener game in the year-plus history of the strategy. Cole and Pena’s reign almost ended two days later.Sunday in Baltimore, Rays left-hander Ryan Yarbrough was three outs away from finishing the first combined perfect game in baseball history. His regular tag-team partner, Ryne Stanek, set the stage by retiring the first six Orioles batters. Like Pena, Yarbrough was in his seventh inning of work. Unlike Pena, he could not finish. He allowed hits to the first two hitters in the ninth and left one batter later. Tampa Bay couldn’t preserve the shutout, either, as the O’s pushed across a run.The Rays will take the eventual 4-1 victory just the same, and though they failed to make history, they did draw more attention to the strategy they introduced last year and that other teams are adopting — slowly — this year.♦♦♦The opener attracts heat from players, pundits and fans who believe that giving the ball to a horse who can work into the late innings is still a better plan. Those critics probably dismiss the idea that the pitcher who follows the opener can also get the game to the setup man and closer, or, in Pena’s case last weekend, finish the job.Pena had several factors working in his favor Friday night: He was given a big lead early and he was throwing too well, in Ausmus’ estimation, to be lifted. His seven innings pitched tied a season high. Still, Pena has worked into the seventh or later five times in 13 bulk outings.Yarbrough definitely knows how to pitch in bulk. He threw 6 1/3 innings of one-run ball in the first opener game, May 19, 2018, in Anaheim, and he has combined with Rays openers to go seven or more innings in eight of his 25 career bulk appearances. He had not worked into the ninth until Sunday, but with a perfecto on the line and with his pitch count modest (76 through six), Rays skipper Kevin Cash stuck with him.Those performances are on the extreme high end for opener games, though. On average, opener-bulk tandems max out around the sixth inning, just as today’s regular starters do. SN has indentified 99 opener-bulk games, or 3.5 percent of all MLB game starts, this season through July 15. The chart below shows just how closely the tandems’ stats track with the average results of the other 96.5 percent of game starts.STATOP+BULKAVG SPIP/game5.555.42BF/game23.6123.10ERA4.414.47WHIP1.3111.308K/97.938.50League average begins to look really good when a team — the Angels, say — doesn’t have enough quality starting pitching. LA used an opener-bulk tandem 18 times through July 14, about the same number of turns as a mid-rotation starter. The comparison to the team’s non-opener starters is striking: STATOP+BULKLAA SPIP/game5.834.97BF/game24.2221.51ERA4.715.46WHIP1.1811.356K/99.008.56The Rays, on the other hand, have been excellent in both settings this year. Their tandems put together a 2.42 ERA and 1.06 WHIP in an MLB-most 29 games (5.51 innings per game) through July 15, while the traditional starters had a 3.09 ERA and a 1.04 WHIP in 67 games (5.79 innings per game).♦♦♦The Angels moved Pena into a bulk role in April after he made four starts to begin the season. Even though Friday was unusual for many reasons, it was also a typical night, for these reasons:— He began with a clean inning after replacing Cole. Pena has not entered a game mid-inning as a bulk reliever.— His first batter was the Mariners’ No. 7 hitter, Tom Murphy, rather than the leadoff man, Smith. Pena has faced the No. 5 hitter or lower first in 10 of his 13 bulk outings; the other three appearances began with the No. 4 hitter. — He faced 22 batters in all, just two over his season average as a bulk reliever. The only batting order spots he faced a third time were seventh, eighth, ninth and first.Those last two points go to the heart of what teams try to do with bulk relievers: keep them away from the top of the order in the first inning, when the most runs historically are scored, and the third time through, when slash-line averages spike.MORE: White Sox will limit Dylan Cease, who plans to become a workhorseIt seems clear from the numbers that the Angels are most interested in giving Pena an easier “start” by having him follow an opener. He has a career 6.00 first-inning ERA and .815 first-inning opponents’ OPS; only his ninth innings (7.41 ERA, .936 OPS) have been worse. His third-time-through numbers as a starter are excellent (.580 OPS in 81 plate appearances).The Rays, as originators of the opener strategy, are more nuanced in using Yarbrough and their other primary bulk relievers, Jalen Beeks and Yonny Chirinos.— They set up Yarbrough, a left-hander who doesn’t throw hard, to follow the flamethrowing right-hander Stanek.— Yarbrough can enter the game anywhere from the first to the third, depending on matchups, and Cash will hook him quickly if necessary. As evidence, Yarbrough’s bulk innings this year range from two to 6 1/3.— Yarbrough has faced batters a third time in just two outings, and for only eight batters total. He faced 21 hitters Sunday, well above his 14.6 season average for bulk games. In contrast, he’s averaging seven innings and 27.75 hitters in his four starts.Yarbrough’s focus, naturally, is just on getting outs. “It’s basically the exact the same,” he told SN on Tuesday of bulk relieving and starting. “The only difference is I’m coming in in the second or third inning; that’s the only difference. I’m throwing bullpens in between, just like a starter would. I’m coming to the field later, like a starter would. It’s just a matter of coming in later in the game, not starting the game.”♦♦♦There is one other similarity between Pena and Yarbrough, and they share it with the bulk of this year’s bulk relievers: They don’t have a lot of major league service time. Pena was at one year, 79 days coming into the season, while Yarbrough accrued a full season as a rookie last year.Of the 36 bulk relievers who pitched in games through July 15, 30 had less than three years’ service time prior to 2019. The exceptions: Edwin Jackson, Wade LeBlanc, Tommy Milone, Drew Smyly and Angels hurlers Trevor Cahill and Nick Tropeano.Using less-experienced (and mostly less-hyped) pitchers increases the likelihood of buy-in into this innovative plan. Stanek (one year, 38 days prior to 2019) told reporters last year that he’d rather be opening in the majors than pitching in Triple-A. There’s also a monetary benefit to teams that go that route. Pitchers working in these roles don’t get to accumulate large counting numbers other than wins (Yarbrough had 16 last year as a swingman), and wins are supposedly passe among the fancy-stats folks who are running clubs. Those pitchers won’t, in theory, be able to make strong cases when they reach salary arbitration.♦♦♦Sixteen MLB teams, more than half the 30 clubs, used an opener through July 15, per SN’s research. They’ve treated opener games mostly as tandem starts rather than as advancements in bullpenning. Four teams — the Rays, Angels, Mariners and Yankees — accounted for more than two-thirds of all opener games (67 total).That’s why it was said at the beginning of this article that the strategy is catching on slowly, but maybe teams should speed things up. Those four clubs are a combined 42-25 (.627 winning percentage) when an opener goes — and when a bulk reliever follows.last_img read more