Mazuma Capital Adds EVP/General Counsel

DRAPER, UT, March 13, 2012 -- Mazuma Capital is pleased to announce the hiring of Todd K. Jenson as EVP/General Counsel.  “The hiring of in-house General Counsel is a consequence of growth, new ventures and upcoming strategic partnerships,” said Jared Belnap, CEO and President of Mazuma Capital. "We are excited about adding Todd to our executive team and look forward to leveraging his experience, and leadership in expanding our footprint in the middle-market leasing segment.”

 “I am excited to join Mazuma Capital.  They are a talented group, and consequently, Mazuma is growing quickly in their core segment.” said Todd Karl. Jenson, newly appointed EVP/General Counsel of Mazuma Capital.

About Todd Karl Jenson

Todd received his Master of Business Administration from the University of Utah, David Eccles School of Business in 2002.  Todd attended Willamette University College of Law in December 2004, and completed his final  year of law school at Brigham Young University (BYU), J. Reuben Clark Law School. The majority of his legal career has been spent between his former employer Republic Bank Inc. as in-house Corporate Legal Counsel, in private practice at two small and mid-size law firms, and at the Office of the Utah Attorney General.  Todd’s expertise at Republic Bank, Inc. focused on commercial litigation, collections, secured lending, bankruptcy, creditors’ rights, and the Uniform Commercial Code.  During his tenure at the Office of the Utah Attorney General Todd represented the Utah Labor Commission in State and Federal Courts handling legal matters in the areas of OSHA, wage claims, discrimination and fair housing.  In private practice, Todd worked in the areas of commercial litigation, insurance defense, personal injury, property law, probate, and municipal law.

About Mazuma: Mazuma Capital is committed to our client’s success. Our unique capabilities and innovative product offerings provide solutions accelerating financial growth. Servicing both rising companies and established businesses, Mazuma continues to secure its position as the middle-market industry leader. We build long-term relationships by delivering on our commitments. Mazuma co-authored the Utah Best Practices Alliance. Mazuma Capital subscribes to the ELFA Code of Fair Business Practices and NAELB code of ethics.

Media Contact:

Julie Fuchs

801-816-0800 Ext. X291

jfuchs@mazumacapital.com

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Most Recent Funding at Mazuma Capital

Capital Spending to Increase; Employment to Accelerate

The most recent Duke University/CFO Magazine Global Business Outlook Survey noted that optimism among U.S. and Asian chief financial officers jumped this quarter and the hiring outlook is strong for 2012. European CFOs also say 2012 will be an improvement over a difficult 2011. 

These are some of the findings of the most recent quarterly survey, which asked 873 CFOs from a broad range of global public and private companies about their expectations for the economy. 

The U.S. CFO Optimism Index, in which CFOs rate their confidence in the economy on a scale of 0 to 100, increased from 53 last quarter to 59 this quarter, equaling the index's long-term average. 

"This rebound is encouraging because increases in CFO optimism have historically preceded improvements in the overall economy," said John Graham, a professor of finance at Duke's Fuqua School of Business and director of the survey. "Optimism also rebounded in Europe and Asia, suggesting that 2012 should be a better year than 2011. Still, European optimism lags behind the rest of the world." 

The following summary of findings was excerpted from the report: 

U.S. finance chiefs said they plan to increase capital spending by slightly more than 7% and expect to boost tech spending by 6% over the next year. Capital spending growth will be especially strong in the energy and manufacturing sectors. 

U.S. CFOs said they plan to expand their workforces by slightly more than 2% on average over the next 12 months, a staffing increase that would bring the unemployment rate below 8%. Sixty-eight percent of U.S. CFOs say they are actively trying to fill vacant job positions, and many firms are recruiting more aggressively to fill the slots. 

Nearly 40% of U.S. CFOs say their firms will be active in mergers and acquisitions this year. 

Mazuma Capital Partners: Section 179 for 2012

Mazuma Capital Partners: Section 179 for 2012: Section 179 limits for the year 2012 were increased by the 'Jobs Act of 2010' which allows businesses to write-off up to $139,000 of qualifi...

Section 179 for 2012

Section 179 limits for the year 2012 were increased by the 'Jobs Act of 2010' which allows businesses to write-off up to $139,000 of qualified capital expenditures subject to a dollar-for-dollar phase-out once these expenditures exceed $560,000 in the 2012 tax year.

Bonus Depreciation was also increased to 50% by the 'Tax Relief Act of 2010' which allows larger businesses that exceed the $560,000 cap to write-off 50% of qualified assets using first year Bonus Depreciation. Also, small businesses that are not profitable in 2012 can use 50% Bonus Depreciation (on new equipment only) and carry-forward the loss to future profitable years.

This should mean a substantial boost to your bottom line this year. But, to get the deduction for tax year 2012, you have to act this year, as once the clock strikes midnight on December 31, 2012; Section 179 can't increase your 2012 profits anymore.

FASB, IASB Vote Differing Approaches For Lessees

Accounting Today reported that at a meeting this week, the boards of the FASB and IASB voted for differing approaches on the leasing standards project involving income statement changes for lessees.

However, Accounting Today noted that since the leasing standards are expected to be re-exposed for further comment, the two boards hope to eventually issue a converged standard for U.S. GAAP and IFRS standards once they hear feedback on their differing approaches from constituents and reconvene in April.

In conference call with reporters, FASB chair Leslie Seidman noted that the focus of the joint board meeting “was entirely on addressing some recurring feedback we have been getting about the effect on the income statement of the model for right of use that we have been developing on certain types of leases”, Accounting Today said.

Mazuma Capital Unveils an Exclusive Finance Program for Mobile and Off-The-Grid Housing Solutions with Life Simple Network, LLC

DRAPER, UT- MARCH 2012/ Mazuma Capital announced their newly formed partnership with Life Simple Network, LLC; as the exclusive finance provider in the U.S. and Canada.   Life Simple sought out Mazuma Capital as their direct finance provider for their high level customers and vendors.  Life Simple Network, LLC offers their unique CHUHouse as an unparalleled housing solution for field workers on remote work sites or where housing is limited.

Mazuma Capital’s exclusive finance program allows Life Simple Network customers to immediately reduce upfront housing expenses with no capital outlay. Mazuma Capital brings their experience and strong technical knowledge within the oil and mining industry to ensure a profitable partnership with Life Simple.

“Our relationship with Life Simple is another example of our ability to work with unique collateral and unusual transactions.   The Life Simple product fills a demand that is continuing to grow, while taking us back to our financing roots in construction, mining and oilfield exploration.  We’re very excited to have them as a partner”, said David Eckman, VP of Vendor Services Mazuma Capital.

Curt Smith, managing member of Life Simple Network, LLC stated, “We are very excited about our new strategic partnership with Mazuma Capital.  The financing options, provided by Mazuma, will make it easier for our customers to secure much needed housing for their mobile work force,  at a lower overall cost than traditional housing options, while providing safety and convenience for their people.”, said Smith. 

About Mazuma: Mazuma Capital is committed to our client’s success. Our unique capabilities and innovative product offerings provide solutions accelerating financial growth. Servicing both rising companies and established businesses, Mazuma continues to secure its position as the middle-market industry leader. We build long-term relationships by delivering on our commitments. Mazuma co-authored the Utah Best Practices Alliance. Mazuma Capital subscribes to the ELFA Code of Fair Business Practices and NAELB code of ethics.