Benchmark Financial Groups, LLC, Aliso Viejo, CA
Bulletin Board Complaint

From the series of emails, it appears MedSource, Layton, Utah has a legitimate complaint for the Leasing News Bulletin Board regarding the return of $3,284.46 for first payment and $199 document fee. He is also a repeat customer of Benchmark Financial, so his business of medical rentals is known.  The sequence of emails also substantiates his complaint:

December 29, 11:02Am email says contract shows contract being sent and asked to sign so funding can take place before the first of the year.

December 30, 11:51 he explains the nature of his business and equipment is rented out for 12 to 18 months to customers, and therefore a site inspection could not be made.

December 30, 3:31pm, salesman says he understands the situation and would like to have a site inspection made.

January 28, 1:50pm, says he hasn't heard from Benchmark and what is going on. He is confused.

January 28, 3:53pm, salesman says he didn't understand equipment was to be rented out, and now it would be considered a sale/leaseback, so he has asked his "HR" department to issue a refund.          

March 29,, 9:33pm, Marcus Davin says,” I’ll look into this tomorrow but it’s my understanding that you applied for financing, were approved, signed our non-cancelable agreement and then cancelled. Unless I’m mistaken and you have facts contrary to this, you are in default."

March 30, 2:49pm: "Marcus, I did not cancel. I sent an email to Rob on 12/30/09 that explained that the items that I wanted to finance had been received by MedSource and rented to patients. He replied that it was not a problem and that he understood the nature of our business. He also explained later that since the equipment was rented that I did not qualify for a sale lease back program and that a request for refund was submitted. I am a past customer of Benchmark and sincerely wanted this lease to be completed. I still would like it to be funded. After the documents were signed there was a delay in getting the funding. I called several times during the delay and was told that outside funding was not approved that I was only approved by the inside people and that Benchmarks policy was to get the first months payment to secure the deal before working on Securing Bank funding. The purpose for this, as explained, was to prevent customers from shopping to lease companies at once, wasting time for the broker. I did not shop and I was completely committed to Benchmark as a previous happy customer. Please follow through with Rob’s request for a refund, Richard Spainhower/MedSource"

Response from Benchmark Financial Groups:

“1) You do not report the facts nor the truth. You only report and post what you want and when provided with documentation clearly proving our side of the story, you do not report or post it. Very “Biased” Kit!

“2) You are a competitor and we will not discuss our transactions with you.

Marcus Davin
President & CEO
Benchmark Financial Groups, LLC.
Office: (949) 716-2100
Toll Free: (800) 680-3946
mdavin@benchmarkfingrp.com
65 Enterprise
Aliso Viejo, CA 92656

MedSource/Benchmark eMails:
http://leasingnews.org/PDF/Medsource_Complaint.pdf

Response to being a competitor:
http://leasingnews.org/PDF/Response_re_beinga_competitor.pdf

BBB Report: F (69 reports)
http://www.la.bbb.org/Business-Report/Benchmark-Financial-Groups-LLC-100045720

Benchmark Financial Groups is no longer a member of the National Association of Equipment Leasing Brokers.

Benchmark Financial Groups, Aliso Viejo, CA
Bulletin Board Complaint
http://leasingnews.org/archives/December%202009/12-31-09.htm#bbc

Benchmark Financial Groups, Aliso Viejo, CA
Bulletin Board Complaint
http://leasingnews.org/archives/December%202009/12-29-09.htm#bbc

Benchmark Financial Groups, Aliso Viejo, CA
Bulletin Board Complaint
http://leasingnews.org/archives/December%202009/12-14-09.htm#benchmark

Benchmark Financial Groups, Aliso Viejo, CA
Bulletin Board Complaint
http://leasingnews.org/archives/September%202009/09-24-09.htm#Bulletin1

Benchmark Financial Groups, Aliso Viejo, CA
Bulletin Board Complaint
http://leasingnews.org/archives/September%202009/09-24-09.htm#Bulletin2

Benchmark Financial Group, Aliso Viejo, CA
Bulletin Board Complaint
http://www.leasingnews.org/archives/April%202009/04-06-09.htm#bbc

Benchmark Financial Group, Aliso Viejo , CA
Bulletin Board Complaint
http://www.leasingnews.org/archives/March%202009/03-02-09.htm#bbc

Classified Ads---Sales

Boston, MA Senior leader in companies of varying size and scope, including start-ups. My current focus is sales, as a leader or as an individual contributor. thomasherlihy33@comcast.net

Cherry Hill, NJ College grad seeking entry level sales position for equipment leasing and financing in small to mid-size ticket markets. Have 6 months experience in the industry and self-motivated. Contact Matt at 609-280-2178 or email at mkuzan@gmail.com

California Aggressive, competitive self-starter with vendor/direct equipment leasing and asset-based lending experience. Success in business banking sales and financial planning. Email: dsp559@hotmail.com | Resume

Minneapolis, MN 16 years leasing experience from micro to large ticket market, variety of equipment. Most recently calling on vendor telecom dealers in Upper Midwest.  golfadm@yahoo.com

Montgomery, AL Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama. Work with leasing company or broker.334-590-5133 E-mail: billmcneal2003@yahoo.com

Orange County, CA 20+ years in leasing sales & sales management. Have estab. existing remote office with Lessee /Vender following. Looking for a partnership w/funding source. shermbp@gmail.com

Philadelphia Metro Area - 30 Years experience Healthcare sales/ management- 3 years experience newly create "small-ticket" healthcare division. Good success - Mitch Utz 215-460-4483 Email: mitutz@msn.com

Pittsburgh , PA Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592 mwiser500@hotmail.com

Pittsburgh, PA Over 25 years of leasing experience including Captive, Dealer, Broker, and Third Party. Multiple equipment types. Seeking a Territory or National Sales position. vsiegel2@aol.com

San Francisco Bay Area: Business Development “Hunter” with transferable book of business in multiple segments: commercial construction, technology, fitness, etc. Years of managerial experience: can also be a “player/coach”. E-mail: VdrPgmBizDev@aol.com

Texas/Oklahoma 15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested. E-mail: bankingdallas@yahoo.com

For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Other e-Mail Posting Sites:
http://www.leasingnews.org/Classified/Posting_sites.htm

Bob Fisher No Longer at Main Street Bank
by Christopher “Kit” Menkin

Confirmed, Bob Fisher, CLP, is no longer Executive Vice-President, Leasing Division, Main Street Bank, Kingwood, Texas. The 63 year old ex-marine had a golden parachute, and may be retiring.

First, Main Street Bank is still doing equipment leasing, and is not out of the equipment leasing or finance business, according to one highly reliable source.

Leasing News has confirmed from several reliable sources that early March it was 42 leasing and finance personnel let go by the bank, not a "couple of salesmen," as Chairman and CEO Thomas J. Depping had originally explained in an interview.

It appears bank examiners did not like the lease yields and viewed them as indications of being subprime transactions. Reportedly what they did not like, according to several insiders, were the ten to fifteen year medical loans. It was not the credit, but the fact that they believe the Health Care Act is going to affect medical doctors income and ability to make payments, and many were made without collateral, just on credit alone, as a credit card instrument, but had ten to fifteen year terms, which reportedly was the number one concern by the regulators.

According to the most recently filed FDIC statement, December 31, 2009, Commercial and Industrial Loans have gone from $97.8 million year-end 2008 to $259.2 million year-end 2009. Leasing Receivables went down from $150.7 million to $127.4 million in the same time period.

Charges offs were $1.8 million compared to $3.4 million end of 2009 with net income attributable to the bank going from $2.1 million to $3.4 million. Tier 1 risk-based capital ratio was 11.21%

Accordingly Bob Fisher, CLP, was in charge of the direct business, and responsible for a reported $26 million on the books, all being paid as agreed with good yields, but too good and too much in one industry for the bank examiners, a well informed source told Leasing News.

It certainly seemed that perhaps the best credit man in the business had found the right home at Main Street Bank. The December 2, 2004 Press Release:

” Main Street National Bank, Kingwood, Texas announced that Robert “Bob” Fisher has joined the Bank as Senior Vice President – Broker, Lessor and Program Development.

“Fisher served as the 2002 President of the United Association of Equipment Leasing and has served as a UAEL board member for a number of years....”

“Tom Depping, Chairman of National Bank stated: ‘Bob Fisher will not only bring in a great deal of experience and knowledge to the Bank but he will bring a commitment to serve the leasing industry.” Depping went on to say, ‘Bob is going to be a big part of making Main Street Bank a national presence in the equipment leasing industry and truly ‘America's Small Business Bank'.”

Personally I started doing business with Bob Fisher non-recourse discounting as American Leasing when he was a credit manager at CIT back in the 1980's. As I remember, the operation moved, and the announcement of September 26, 1990 had him as “National Credit Manager” for Datronic Rental Corporation, Schaumburg, IL. Later the company became New Era Funding, moving to Hoffman Estates, Illinois, perhaps in 1993.

As I remember the story, the president or principal of Datronic Rental Corporation co-mingled funds with real estate transactions. He evidently was running the company as he wanted, considered it “his money,” and was shut down. It put several leasing companies out of business who were dealing with New Era, most notably the Perry Morris Company, run by brother and sister Jeff and Kris Morris (they are the ones who explained the situation at New Era to me, their viewpoint.)

Bob Fisher started Fisher-Anderson, LC, moving to Des Moines, IA, where his brother-in-law lived, as I remember. He brought Sandy Thrasher as vice-president of Credit him. Scott Anderson knew very little about equipment leasing. He spent three full days at American Leasing, Santa Clara, California, all day, and dinner with staff at night, seeing the entire operation. American Leasing did business with Fisher-Anderson.

The company grew, and according to a MarCap (their reported main line of credit) Press Release: “Fisher-Anderson is based in Des Moines, Iowa, is a small ticket leasing company with 40 employees.

A Capital Stream press release about Fisher-Anderson using their software the company had “...41 brokers, representing 25 and 30 small-to-$75,000) lease deals a day. In the five year history of the company, perhaps the number was an average of $50 million a year.

The same year he was president of UAEL, Bob resigned from Fisher-Anderson. February 28, 2002, he announced Scott Anderson would be winding down the company, that they had sold 100% interest to MarCap in December, 2001. He would be starting FireRock Capital.

The truth MarCap was getting out of certain aspects of the business.

There is more to the story, but let's leave it at that. MarCap took over the operation and Scott eventually moved to FireRock Capital.

April, 2003, Bob resigned as president of FireRock Capital to become sales manage for Douglas-Guardian, Houston, Texas (the company “... has been providing collateral control, inspection, and valuation services to secured lenders since 1932. http://www.douglasguardian.com/) Scott Anderson became president of the company.

MarCap’s portfolio was eventually sold to Tygris, who recently was purchased to operate as a division of EverBank Financial Corporation, Jacksonville, Florida.

Leasing News was not able to reach Mr. Fisher for an interview.

Mike Hoffman, Main Street Bank Former President

Several sources have told Leasing News that Mike Hoffman resigned as president of Main Street Bank. A spokesperson reached by telephone said he retired, and when asked if there would be a press release, responded: “No.”

Leasing News spoke to Mr. Hoffman the beginning of last month and there was no mention of retirement at the time, except that any information about the bank should not come from him but Chairman and CEO Thomas J. Depping.

Thomas J. Depping Office at Sierra Cities

Description from formation of the bank, June 3, 2005:
“Depping is joined in his senior management team by Mike Hoffman, who has been Chairman, CEO or President of a number of banks including First Heights Bank, First American Bank-Central, First of America Bank-Detroit, and First of America Bank-Southeast Michigan."
http://www.ascentequitycapital.com/main-street-national-bank.htm

A telephone call to Mr. Depping was not returned, but late afternoon Leasing News received this email:
“Mike Hofmann is 67 years old and retired.  Is there a reason you won't let the man retire in peace?  He still works for the bank from time to time as a consultant.

“Bob Fisher left the bank when we discontinued the Healthcare Group.

“You are like a little old lady who does not have anything to do and wants to stir up gossip.

“Your pictures are twenty years old. My hair is gray and I have gained twenty pounds.”

Tom Depping
Chief Executive Officer
Main Street Bank
281-348-2010

(Current Official Photo from Main Street Bank Web Site)

March ZRG Group Employment Index Up

First Quarter 2010 brings the first major increase in the Leasing Industry Hiring Index since October 2008.

The report notes, "the Leasing Industry index finally showed a substantial increase after months of stagnation," but at the same time, notes,” Leasing hiring is still trailing the macro hiring trends in the overall market by a few months."

ZRG states this may be a signal of "..the beginning of a new year with increased activity for employers who now must deal with 2010 plans and executing on initiatives. The new roles to be hired showed more balance towards business developments than in previous 2009 results.

"Additionally, the quantity of the jobs showed increased hiring across several key functional areas including sales, operations, credit and portfolio management. Accounting related roles also increased during the period. The next index report will be interesting to see if the level continues or the increase was a January bounce."

Copy of ZRG Group Newsletter:
http://leasingnews.org/PDF/March2010ZRGHiringindex.pdf

Classified Ads---Help Wanted

Leasing Industry Help Wanted

Sales

Please see our Job Wanted section for possible new employees.

Leasing Associations Remain Optimistic
although membership down considerably

670	National Association of Equipment Leasing Brokers (NAELB)
490	Equipment Leasing and Finance Association  (ELFA)
215	Association of Government Leasing and Finance  (AGLFA)
184	National Equipment Finance Association (NEFA)

	3/31/10	2010	3/31/09	2009	2008	2007	2006	2005	2003	2002	2001	2000
AGLFA	215	238	265	265	277	255	255	255	203	263	343	250
EAEL	*	*	*	183	181	196	198	180	191	216	227	240
ELFA	490	604	579	700	741	768	817	780	732	862	873	850
NAELB	640	847	840	1021	1089	950	731	648	480	433	415	475
UAEL	*	*	*	289	314	314	314	297	248	378	379	589
NEFA	184	274	233

The group with the largest drop in membership is the National Association of Equipment Leasing Brokers.

Once having 1,089 members, the group at the end of March, 2010, is down to 670 members. The numbers show NAELB had the largest actual loss from year end 2009 to, the first quarter of this year: 847 to 670, a loss of 177 members, 21%.

The largest percentage loss is “funding sources,” which also appears in the other associations. Year-end 2008, there were 113 funder members, March 31, 2010 now down to 66.

The loss is not that the funding group is unhappy, but the basic fact is there are a lot less funders in the leasing industry in the last year. (1)

NAELB has quite a large cash war chest saved over the years through frugal management, continuing its many programs, and definitely now coming in handy for its members. With a thrust for brokers with a $295 membership fee, as well as $50 credit given last year, and what is available, product discounts, active forums, education video and webair, weekly meet the funder, the association has much to attract the independent broker community.

It appears there are new programs to be introduced that should increase NAELB’s broker membership. Since there are less funders, perhaps a more direct approach to help broker members will work.

This concept may be controversial, but if you view the sources participating at the NAELB April 15th conference, note there are a lot more “higher rate” sources, places for “story credits” or “just plan difficult deals” or “subprime leases” than for instance at the ELFA Funding Conference (( in an attempt to reduce the criticism, did not say “all,” but “a lot more” and before closing your mind, compare with the ELFA Funding Conference and also see the “Story Credit” list.(2))

Leasing Funding Exhibitors at the Atlanta, April 15th Conference:
ABCO Leasing, Inc.
ACC Capital Corporation
Allegiant Partners Incorporated
Amerisource Funding
Bank of the West
Bankers Capital
Baystone Financial Group
CFC Investment Company
Dakota Financial, LLC
Financial Pacific Leasing
GreatAmerica Leasing Corporation
Kent Funding, Inc.
Mar Vista Financial
Maxim Commercial Capital, LLC
MicroBilt Corporation
Pawnee Leasing Corporation
Quail Capital Corp.
TEAM Funding Solutions
Tetra Financial Group
TimePayment Corporation
U.S. Bank Manifest Funding Services

List of Exhibitors at ELFA Funding Conference, Chicago, Illinois:
*AIG Commercial Equipment Finance
* Atel Capital Group
* Bank of the West
* Boston Financial & Equity Corporation
* CapitalSource, Inc.
* Century Services (USA) Inc.
* Commonwealth Capital Corp.
* Fifth Third Leasing
* Financial Pacific Leasing
* First Bank of Highland Park
* First Eagle Bank
* First Financial Corporate Services
* GE Capital Corporate Finance
* GE Capital Markets, Inc.
* Key Equipment Finance
* Kingsbridge Holdings
* MB Financial
* Peoples Capital and Leasing Corp
* RBS Asset Finance
* SCG Capital
* Sterling National Bank
*SunTrust Equipment Finance & Leasing
* Wells Fargo Equipment Finance

The loss from the end of year for the Equipment Leasing and Finance Association is 114; 19%.

“At least for our group, the numbers reported above are somewhat misleading, “ Ralph Petta, Interim President, told Leasing News. “ They represent where we are today (late-March) in the membership renewal cycle. They represent an incomplete picture. We are still collecting 2010 renewals and new member applications and expect that our year-end totals come close to the 600 members we had in 2009. Our membership year is surprisingly strong thus far."

It should be noted the keeping of membership categories should give a better idea as to the difference of ELFA than the other association.

The Equipment Leasing and Finance Association is quite unique; definitely the most influential in both state and federal government issues, as well as a major educational source and networking group. Despite the many banks and leasing companies which have exited the marketplace, the breakdown of membership shows how viable ELFA has become.

The National Equipment Finance Association lost 89 members, and while the number is smaller than those above, NEFA had the largest drop of members for its size in 2009: 274 to 184 members.

The association has almost lost a third of their members since last year.

Looking at the numbers before the merger of the Eastern Association of Equipment Leasing and United Association of Equipment Leasing, it is a more serious loss. There were a combined 472 members in 2009 of the two associations. With the number noted by the merged group that there were 60 of the members belonged to both, the total membership, deleting those who belonged to both, was 412. It is quite a drop to today's 184 member group.

These numbers come from NEFA:

2009 Year-End

158 Broker/Lessor
51 Funding Source
62 Service Provider
3 Honorary/Complimentary
274 Members

3/31/10

103 Broker/Lessor
31 Funding Source
49 Service Provider
5 Honorary/ Complimentary
188 Members

Randy Haug, Sr. Vice President / Partner, LeaseTeam, Inc., and president of NEFA, told Leasing News "The largest variance of course is in the broker/ lessor and funding source categories which should come as no surprise considering the current state of the marketplace.

"With this being said the NEFA board budget for 2010 is based off of having a 2010 membership at year end of approximately 230 members. We anticipated having about a 15% decline in our membership numbers 2010 vs. 2009. That would be calculated as 273 (year end total 2009) X 15% decline = 232 total projected members 2010.

To live up to the budget stated by Randy, not including any decline during the year, NEFA is going to have to attract a minimum of48 new member companies in the next nine months. It should be noted that in the case of NEFA and ELFA the size and category denotes the membership fee, so the loss of the larger funder affects their budget more than the loss of an independent, a broker-lessor, or smaller funding source.

David Wright, Executive Director, Association for Governmental Leasing & Finance (AGLF),Mount Royal, New Jersey believes some of those that did not renew will be renewing, that they like to work the cashflow, plus go to the April conference at a member price. While the association is comparatively small, it appears stable, but is down 19% from the previous quarter.

The 2010 year-end:
99 are in the Basic Category
93 are in the Industry Leader Category
24 are Limited members
22 are Individual and Government members

The response from Cindy Spurdle, Executive Director of the Certified Leasing Professional Foundation, perhaps sums up all the association’s response to Leasing News annual membership count:

“Y/E 2009 we had 182 CLPs in good standing.

“End of 1st quarter we had 159 CLPs in good standing.  It has been a rough last 18 months for everyone in our industry.”

CLP’s

2007: 204
2008: 179
2009: 182
Today: 159

Cindy has worked for NAELB as well as NEFA in its former entity, and recently was awarded for her ten year service for the CLP Foundation. She also was in the leasing business as a broker and knows the industry well; a “rough” eighteen months indeed

Arizona Equipment Leasing Association at one time has an estimated 25 members. No official count is available at this time. The group is active. They get together for social and business meetings during the year, even invite speakers.

1. Companies not accepting broker business:
   http://www.leasingnews.org/Pages/Out-of-broker-bus.htm
   

2. Story Credits:
   http://www.leasingnews.org/Story_Credit/Story_Credit.htm

Sales Make it Happen --- by Christopher Menkin “Get yourself a Warehouse Line” A Warehouse Line enables you to “fund leases” to discount or borrow against recourse or non-recourse with specific stipulations. Before getting into this aspect and its history, a “Warehouse Line” allows you also to pay a seller of equipment much faster than waiting for all paperwork to be complete, speeding up the process tremendously. In this tightening money situation, it gives you the ability to pay vendors half with the order, or to form a multi-lease, paying in any increments you choose. Today vendors are hungry for cash, plus also becoming even more particular in how fast they are going to be paid. This is a tremendous advantage in the street. While some funders offer this today, including an interest only form on the money advanced, the profit comes in not only being able to attract more vendors, control the rate and margin of the transaction, but in additional profits by using the lease factor on the money advanced in the lease factor. In addition, in better control of the sale of the “master lease” and its advantages, often a fee of 2% can be included. This is not an uncommon practice in the financial industry. Encourage more “master leases” from multiply vendors. Not only does the “Warehouse Line” allow you to create more sales, but more income too. You are not only collecting on the increase rate in the sell, but the principal too (which is all profit in interim rent.) Many banks and funders will issue these lines of credit based on viewing the credit of the company obtaining the “master lease” and/or viewing the approval from the company who is going to fund the transaction, rather than your own net worth or history. Of course, the better your credit, net worth, and history, the larger the line of credit, better terms, and perhaps even several warehouse lines of credit. When you are able, have a second bank, which will help in negotiations with the first bank, and perhaps more importantly, if one bank changes the terms and conditions, you have a second backup with no business disruption. Again, it depends on your personal and/or company’s creditworthiness as to what you may obtain. It also depends if it is a community bank or regional bank or your personal relationship, meaning your network of friends. The idea is to start, manage it well, and with history be able to increase the line of credit. The first pitfall is credit changes before the final “take out” transaction is completed. Rate changes can be protected, but say in collecting the “interim rent” the check bounces. The master lease takes six months, not two, or even longer. You learn there is fraud involved. There are a long lists of other things that can go wrong. It is best to start small, funding solid credits in advance to obtain the vendor business, learning the mechanics, and getting your feet wet. The more transactions you do, the more experience you will gain in what you overlooked and what can go wrong. Another piece of advice is to only use the line for lessees an hour driving distance from your office. You can visit them. See what is going on. Have a better relationship and anticipate pitfalls. You can also have a recourse line, as the credit may expire, and you are either allowed to keep the transaction in your warehouse line or have a recourse line to carry your own leases. This is extremely dangerous in this economy. Be prepared to drive every month to the lessee to pick up a check and “hammer” it in their bank ( I have done this too many times to recount.) Do not jump in nationwide thinking that a top credit will protect you. It is naïve. Youl find out the hard way as staffs grow because problems grow. It may look easy, but it is definitely not. Be very careful. Be scared. The “Warehouse Line” has many other uses today. It has enabled small lessors to both get away from recourse lines and seek non-recourse lines, often at lower rates, plus attract more sales either directly and/or through others lessors in different marketplaces. Before computer software accounting, lessor non-recourse was on a “deal by deal basis,” although there were larger lessors and banks who could collect a large number of leases and “lay them off” in $1 million and $5 million portfolio’s. Computer software brought this down to $500,000, and giving the lessor more sources for various collections of portfolio’s. Today minimums can be $100,000 for small ticket items. The warehouse line has created many brokers who call themselves lessors, and even funders. In reality, if you are not full recourse, meaning if the lease defaults, you payoff the transaction ( not trade it for another or pay it down over time) you are a broker with a warehouse line. Maybe you might be collecting the personal property tax or keeping up to date on the insurance or assisting or even making the collection calls, if you have to pay it back with cash, then you are a funder. It is really your money, not someone else’s. Most of the leasing companies today use a warehouse line to either securitize or sell portfolio’s or use them for a larger line of credit, basically another warehouse line in reality. It often is also a means to take a “deal off the street” while a search is made for the “take out.” The accounting, operations, information required large staffs, a lot of overhead, so the players were limited, but as the computers grew fast, processed more, retained more, programs were written that controlled the accounting, accountability, and statistics of the leases. This enabled more non-recourse transactions, as well as making it economical for others to buy in smaller increments, particularly useful in the small ticket marketplace. It enable securitization of leases in smaller portfolio’s which could be bundled and re-sold again just like in real property mortgages. It also enabled, as Bill Gates originally said, a very small operation to compete with a very large operation. Sales Makes it Happen articles: http://www.leasingnews.org/Legacy/index.html

SEATTLE    Meet and learn from Mr. Terry Winders, CLP Leasing #102 columnist for Leasing News, long time educator and trainer Sales and Operations click here for course information and to register April 12th until Noon on the 14th Seattle, Washington Hosted by Financial Pacific $395.00 Paid in Advance for first person from company $345 with each additional attendee  "Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education) Credits toward their recertification"

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

Classified ads—Back Office

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Back Office: Northbrook, IL Our staff of CPA's and lease professionals can handle any or all portfolio responsibilities incl. portfolio mgmt, invoicing, sales/property/income tax, accounting, etc. 800-826-7070 E-mail: ngeary@ecsfinancial.com	Back Office: San Rafael, CA We can run your back office from origination to final payoff. 30 years experience in commercial equipment lease and loan portfolio management. E-mail:gmartinez@phxa.com
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Back Office: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available, (216) 658-5618, E-mail gary@avptc.com	Back Office – National Spending too much time on processing credit applications, preparing lease documents and other administrative tasks and not enough time marketing and growing your business? Call us! 407.964.1232 dee@leasebrokerassistant.com
	Back Office: Gig Harbor, WA Orion First Financial provides comprehensive lease/loan account servicing, collection/workout solutions and strategic advisory services. Contact David T. Schaefer 253-857-9610 dtschaefer@orionfirst.com

Leasing Industry Outsourcing
(Providing Services and Products)

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http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
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#### Press Release ########################

Veterans Gaining Toehold on Economy with Franchise Ownership;
Discount purchase program on path to break 2,000 mark in 2010

WASHINGTON, April 7― America’s military veterans haven’t been sitting idly by hoping the economy will improve, according to the International Franchise Association, which today reported that sales of franchise-small businesses to former military personnel through its award-winning “VetFran” program have reached 1,778, an increase of more than 250 since last fall. And the association reports that there are nearly 250 other sales currently under negotiation.

“This is an important milestone for the VetFran program,” said IFA Chairman Ken Walker, chairman and CEO of Driven Brands. “As more and more veterans learn how franchising can help them get into business for themselves and start a new career after their military service, this program will continue to grow.”

Since 2002, the Veterans Transition Franchise Initiative, as the program is formally known, has enabled honorably-discharged veterans to apply discounts or other financial incentives to the purchase price of franchises in a wide variety of industries, ranging from auto repair services to restaurants to commercial and residential cleaning concepts.

Endorsed by the U.S. Dept. of Veterans Affairs, VetFran today is supported by nearly 400 companies that are members of IFA. Some franchises offer veterans reductions of the initial franchise fee; others provide discounted inventories or waive certain franchise fees.

On April 9, the association’s International Franchise Expo will open at the Washington, D.C. Convention Center for a three-day trade show featuring hundreds of franchise concepts on display where future franchisees can get a closer look at the popular brands and meet with company representatives to gather key information about possible purchase.

Veterans will be admitted to the event without charge and are invited to attend a special, free seminar “Franchising 101 for Veterans” April 10, which will be conducted by veterans who are experts in franchising, including some who have purchased franchises by using the VetFran discounts.

Veteran-attendees are encouraged to look for the VetFran symbol which will be prominently displayed on the booths of participating companies. Additional details about the VetFran program, including a list of the participating companies and the discounts they offer, can be viewed at www.franchise.org, where early Expo registration can also be accomplished. Free copies of IFA’s April Franchising World magazine will also be distributed during the trade show which features the program and offer profiles of veterans who are enjoying their franchise-business experience.

Recognized by VA’s Center for Veterans Enterprise as a “Champion of Free Enterprise,” VetFran has also been honored by the American Society of Association Executives. The program is a volunteer effort conducted by the association and its members; it receives no federal funding.

About the International Franchise Association:
The International Franchise Association is the world’s oldest and largest organization representing franchising worldwide. Celebrating 50 years of excellence, education and advocacy, IFA protects, enhances and promotes franchising through government relations, public relations and educational programs. Through its awareness campaign highlighting the theme, Franchising: Building Local Businesses, One Opportunity at a Time, IFA promotes the 21 million jobs and $2.3 trillion of economic activity generated by franchising. IFA members include franchise companies in over 90 different business format categories, individual franchisees and companies that support the industry in marketing, law and business development.

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Tax Preparer Gets Two 12 Months/One Day

Karen P. Hewitt -- U.S. Attorney, San Diego, California

Pablo Amesquita, a self-employed tax preparer doing business as "Tax & Weddings," located in San Ysidro, California, was sentenced in U.S. District Court in San Diego by United States District Judge Michael M. Anello to serve two concurrent sentences of 12 months' and one day in prison and a one-year term of supervised release, announced United States Attorney Karen P. Hewitt. The sentence was based upon his April 1, 2009 guilty plea to two felony counts of aiding and assisting in the preparation and presentation of false tax returns for tax years 2005 and 2006. In addition, Judge Anello ordered Amesquita to pay a $4,000 criminal fine and ordered that he immediately cease from preparing any further tax returns.

According to Assistant U.S. Attorney Joseph J.M. Orabona, who prosecuted the case, Amesquita prepared tax returns for his clients for tax years 2005 and 2006 by knowingly and willfully falsifying and exaggerating itemized deductions claimed on the tax returns in an attempt to defeat a total of approximately $65,096 and $80,227 in additional taxes due and owing to the United States in 2005 and 2006, respectively. According to court records, during an undercover operation in March 2007, Amesquita advised an undercover agent that he could deduct home improvements and expenses for non-business meals and entertainment, clothing, gasoline, and insurance, even though Amesquita knew that these items were not deductible under the tax law and that the undercover agent had no documentation to justify the numbers that Amesquita entered on the tax return.

"Tax preparers who intentionally falsify tax returns breach the public's trust and will not be tolerated. We will continue to aggressively prosecute these types of cases to hold any tax cheats responsible for their conduct," said United States Attorney Hewitt.

Leslie P. DeMarco, IRS-Criminal Investigation Special Agent in Charge for the Los Angeles Field Office, stated, "The sentence for Mr. Amesquita sends a timely and critical message to tax preparers who think about filing false returns - there is a price to pay. The Internal Revenue Service will continue to aggressively investigate unscrupulous tax return preparers who take advantage of the public, and undermine the honesty of our tax system for their own personal gain."

DEFENDANT Criminal Case No. 09CR1129-MMA
Pablo Amesquita Age: 57
SUMMARY OF CHARGES
Title 26, United States Code, Section 7206(2) - Aiding and Assisting in the Preparation and Presentation of False Income Tax Returns
AGENCY
Internal Revenue Service, Criminal Investigation

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(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Michael Witt, Esq.)

Bothell, WA ---Adopt a Pet

Diego

Animal ID 10106756
Species Dog
Breed German Shepherd/Purebred
Age 3 years
Sex Male
Size Large
Color White
Housetrained Unknown
Intake Date 3/29/2010
Application Form:
http://www.northwestgermanshepherd.org/OnlineApplication.pdf

Northwest German Shepherd Rescue
Bothell, WA 98011
info@northwestgermanshepherd.org
http://www.northwestgermanshepherd.org

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/

Court Says F.C.C. Cannot Require ‘Net Neutrality’
http://www.nytimes.com/2010/04/07/technology/07net.html?hp

More signals pointing to economic recovery
http://www.chicagotribune.com/business/yourmoney/sc-biz-0407-economic-recovery-gail--20100407,0,1485310.column

Upbeat Signs Revive Consumers’ Mood for Spending
http://www.nytimes.com/2010/04/07/business/07shop.html?ref=business

Rental car industry starts to emerge from the 'perfect storm'
http://www.usatoday.com/money/industries/travel/2010-04-06-rentalcars06_CV_N.htm

FTC's Report On Collections Law Is Incomplete, Inaccurate: ACA International
http://www.collectionscreditrisk.com/news/ftc-report-to-congress-is-incomplete-aca-international 3001259-1.html

John G. McCoy, Innovator in Banking, Dies at 97
http://dealbook.blogs.nytimes.com/2010/04/06/john-g-mccoy-innovator-in-banking-dies-at-97/

'Dancing' twirls past 'American Idol' for 1st time
http://news.yahoo.com/s/ap/20100406/ap_en_tv/us_nielsens

You May have Missed---

Relax, We’ll Be Fine---David Brooks
http://www.nytimes.com/2010/04/06/opinion/06brooks.html?src=me&ref=homepage

 

Sports Briefs ---

Moore, UConn stop Stanford for women's title
http://www.usatoday.com/sports/college/womensbasketball/2010-04-06-championship-game-connecticut-stanford_N.htm?loc=interstitialskip

California Nuts Briefs---

Whitman adds $20M to her campaign
http://www.sacbee.com/2010/04/05/2657729/whitman-in-another-20-million.html

“Gimme that Wine”

Hazlitt's 1852 Vineyards Buys Historic Widmer Winery
http://www.winespectator.com/webfeature/show/id/42452

Inventor Of Box Wine Dies At 92
http://consumerist.com/2010/04/inventor-of-box-wine-dies-at-92.html

Ambitions take root in California wine country
http://www.theglobeandmail.com/report-on-business/managing/at-the-top/ambitions-take-root-in-california-wine-country/article1523403/

April in Carneros
http://www.napavalleyregister.com/lifestyles/food-and-cooking/wine/article_573728ca-3e0f-11df-bf7b-001cc4c03286.html

Great debate over Napa Valley pinots
http://www.sthelenastar.com/articles/2010/04/01/business/local/doc4bb3ea63bc01e115411809.txt

Trefethen Family Vineyards, Grgich Hills Estate, Patz & Hall, Chateau Montelena Winery and DeLoach Vineyards All Innovating With TastingRoom Inc.'s Wine Product Sampling Kits
http://finance.yahoo.com/news/Trefethen-Family-Vineyards-bw-1633376449.html?x=0&.v=1

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Winery Atlas
http://www.carterhouse.com/atlas/\

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm

 

Spring Poem

Spring Vow

    by Larissa Shmailo

We will love like dogwood.
Kiss like cranes.
Die like moths.
I promise.