RE:RE:RE:So farAs a financial services company, the goal is to leverage the balance sheet (appropriately) and earn the net interest margin along with syngergies from acquisitions along with non-interest fleet management fees. Relatively speaking the company's balance sheet remains underlevered, even post the GE fleet aquisition. The company is enjoying both organic and acquisitional growth. Bottom line, the company can realize free cash flow in excess of the cost of capital then making acquistions and leverage the balance sheet is appropriate. Management has shown through the PHH acquisition in 2014 (and many such small acquisitions before that and with Newcourt as well) that this is a winning strategy, and will do the same with GE Fleet with $90-$95M proposed synergies. There will be another acquisition in 2015, and with the larger asset base, higher free cash flow and strong debt rating, the cost of capital for that acquisition will be even lower. The end game is for the company to be acquired in 2017 when they have materially completed building the assets.