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Incorporated May 21,2000





Lawrence C. Menkin, Publisher
Christopher Menkin, Executive Editor

Advisory Board Members


Wildwood Financial Group, Ellisville, Missouri
Nassau Asset Managmnt, Roslyn Heights, NY.
Bank of the West, Walnut Creek, CA.
Global Financial Services, Manhattan, NY.
Steve Gabriel Porter Novelli-Advanced Tech Division, Campbell, CA
Larkspur, California
Kabot Commercial Leasing, Seattle, WA.
Empire Bradcasting, San Jose, CA.
Kropschot Financial Services, Vero Beach, FL.
SFBI Recruiters, Atlanta, GA.
McCue Systems, Inc. Burlingame, CA.
San Diego Business Journal, San Diego, CA.
Dan Pulcrano

Metro Newspapers, San Jose, California

Santa Barbara Bank & Trust, Santa Barbara, CA.
Teichman Financial Training, Sausalito, CA.
ICON Securities, N.Y., N.Y./San Francisco, CA.
Brava Capital, Orange, CA.


The Cat is Going to Get You

This is not only addressed to lessors and their attorneys involved with NorVergence leases, but to others in the industry who are still living in the 20th century; the days before Google, Yahoo, Copernic, Mozilla Firefox, Opera, Safari, to name a few, plus list serve, blogs, and “professional” web sites a ten year old child can construct in a half hour---free hosting, free e-mail addresse with 1gb storage space, and digital televisions with sixty plus more channels for local and international news happening right now, seen right now, in real time, by satellite, even from Luso in Portugal to Adigar and Casablanca in Morocco ( I was there, almost every apartment had a satellite dish, often clothing hanging to dry, too, but satellite dish nevertheless.) Hotels in Rome, Lisbon, and even Oporto had wireless internet available for guests (one even had a hotel lap top you could bring to your room for personal use, if you did not have your lap top with you to plug in.) There is CNN, Fox News, BBC, all in English, local television news, and even American televisions shows: “CSI- New York” is popular in Portugal. And you haven't seen anything until you watch “Law and Order” in German.

While Leasing News may be alienating a few of its advertisers, several leasing associations, perhaps the 47 leasing companies involved ( the list is still be developed,) our mission is to be independent, unbiased, and provide fair news about the industry. This centers on factual information.

From my bottom floor office window I have a view out a window that goes from the ceiling to the floor, perhaps three and a half feet wide, that often I pull the shade up. My office is in the back of the second building, so not one can see it, but I have this luxurious landscape of an empty lot with the weeds cut down, right next to the County Superior Court House in Los Gatos. It is several football fields wide and long. Seriously, I like to look out the window because it is almost like being in the country.

When I am on the telephone, sometimes I look out and see this black cat. He is big for a cat. He owns the empty lot. It is his to survey. It is his to hunt. He often sits on a small hill in the far corner, surveying the panorama , looking perhaps for a golpher or another animal, more importantly, a bird that lands for the bugs in the soil covered with cut brown weeks. He is quite noticeable to me as I know where he likes being on the top of this small hill. He is black against the brown dirt and cut weeds. He has his territory. He has his own “office.” My eyes go right to him every time I look out the window.

Sometimes in walking to my car, I see him sitting, waiting. He does not appear that he is moving. He might even be a small black statue. He seems to have great patience. The cat reminds me of Randy Brook, the Federal Trade Commission attorney, who specializes in prosecuting banks, financing, and leasing companies, as if he were a cat about to put his teeth around the bird and take him home to eat.

I remember one day looking from my window, sitting in my chair, watching the cat sneek up on its prey.

He moves very slowly, almost as if he is not moving at all. Low to the ground, almost as if he were part of it, deliberately in slow motion, keeping low to the ground, stopping when the bird looks his way, always keeping his two eyes on his goal. His prey is oblivious. There is no fear, just an occassion quick look around, no real care, just eating bugs, not aware he is about to be suddenly pounced upon and also eaten.

Lessors in NorVergence “Equipment Rental Agreements” are losing ground as expressed in a recent decision brought to Leasing News attention in Sterling National Bank, as assignee of NorVergence against Kings Manor Estates, LLC, and Paul Anderson, individually, in the civil court of the State of New York, New York County.

Sterling has its motion for summary judgment denied in NY and then may end up paying for the defendant's legal costs!

"As to any transfer, the court reserves the power to direct that the costs, including the cost of any Request for Judicial Intervention, be borne by plaintiff

"...the motion for summary judgment is denied and the motion for a stay is granted. This matter shall be stayed pending further order of the court and, three months hence, a conference before the court shall be held to determine whether the matter has been resolved or whether defendants request that this matter be transferred to the Supreme Court after the expiration of such stay. As to any transfer, the court reserves the power to direct that the costs, including the cost of any Request for Judicial Intervention, be borne by plaintiff. The court does not reach the question of whether the plaintiff, having elected this forum, has waived a right to request transfer of this matter."

In recent stories, especially in Illinois, cases of venue and other substance issues have gone against plaintiffs. Information, cases, are being share not only with NorVergence lessees, but their attorneys, who should not be viewed as a “sole practitioner but a member of perhaps the United States largest law firm with all its assets, experience, and knowledge with internet instant information.

For leasing companies who have not settled, Leasing News advises you to read this case, to realize you are not safe in your contract, and this cat is going to get you. Be warned. This cat does not have a bell around its neck.

Christopher Menkin, Publisher