Bo Bohannon Heart Surgery Successful

Bo Bohannon, President at Lease Capital, Inc., on the board of the National Association of Equipment Leasing Brokers for six years, serving as vice-president for four years, is recovering very well from a four bypass heart surgery. He is expected to return home with five days. He has been active also in the Equipment Leasing and Finance Association, National Equipment Finance Association and is well-known in the industry, as well as a long time reader and contributor to Leasing News.

Hospital Address:
St Vincent’s Hospital East
50 Medical Park E
Birmingham AL 35235

Charlie Lester in Hospice

“Charlie Lester - Charlie has always been an innovator in our Industry and gave his time freely to help the small broker understand the business and succeed. He helped lead the organization and success of National Association of Equipment Leasing Brokers at its inception. When Charlie had LeasePro, he was always the ultimate creditable person at all times and the word integrity was born with him. He also was instrumental in the early growth of Leasing News.”
http://www.leasingnews.org/archives/July%202009/07-06-09.htm#25influential

Charlie, age 69, had a series of strokes 2008, and his health started to deteriorate. Leasing News Emeritus Board Member and good friend today is in hospice. This is from his son-in-law Kurt Hess and daughter Sharon Hess:

“As most of you may or may not know, Charlie Lester, founder of LPI Financial Services, Inc., has been in chronic pain and increasingly worse health for a long time. 

“He has bone disease, a bad heart, bad lungs, bad knees, a bad hip, low blood pressure, arthritis and just about any other condition you can think of.  He has been suffering from a series of compression fractures in his spine as a result of his degenerative bone disease.  These fractures cause acute and debilitating pain and make it impossible for Charlie to function, other than to lie still in a position that causes the least amount of pain possible.  Prior to April 22nd, his chronic pain and inactivity had landed him in the hospital for a week with congestive heart failure and pneumonia.  These conditions were arrested enough to address the fractures.  Each time they do a procedure, called Kyphoplasty, to infuse the fractured area with cement to keep the disc off the nerve.  The last Kyphoplasty was done on Thursday, April 22nd.

“Friday, April 23rd found Charlie with no pain relief and significantly weaker from the effects of anesthesia and the general risk of an invasive medical procedure on such an ill patient.  He had zero appetite, couldn’t even sit up in bed and had decided that he really didn’t want to fight this battle any longer.  After long consults with his medical team, the news was grim – the damage to his lungs and heart were extensive and the procedure was done as a last ditch effort to give him some pain relief and any hope of rehab.  The decision was made to transport him back to the hospital where IV pain meds could be given and a long term solution could be made.  That long term solution was hospice to make him as comfortable as possible.

“Friday evening Charlie was transported from the hospital to Altus House Hospice and Healthcare in Dunwoody, Georgia.  His only desire was to be as pain free and comfortable as possible.  To this end and to respect his wishes, the decision was made to only use pain medication to keep him comfortable. Without his pharmacy of other medications it is likely that his severe edema will bring on congestive heart failure and pneumonia.  Determining a timeline for this progression is only vague.  Charlie’s spirit is calm and he is ready to move on to his next phase of life, that in Heaven, but no one can say what fight his body has left.

“As of today, Monday, April 26th, Charlie is resting comfortably at Altus.  He is very weak, sleeps more and more and is increasingly unable to connect thoughts and have conversations.  Charlie had a special IV placed and he is getting pain medicine as much as needed and as many times a day as he requests.  They are placing no limits on his requests.  Everything else has been stopped.  He can eat if he chooses but during his short periods of awake time he is only requesting water. 

“It is expected that he will pass away sometime in the next few weeks if not sooner.  He will be cremated and a Celebration Service of his life will be held within a week or two of his passing.  He is requesting that no flowers be sent.  Instead, he has asked that donations be made to his church in his memory.  A fund has been set-up with the Board of Trustees in memory of Charlie Lester for special projects at the church.  Please make checks payable to Mt. Bethel UMC mark “In Memory of Charlie Lester” on the for line of your check.  Checks can be sent directly to the church or you can include them in a card and mail them to Charlie’s house.  Barbara is sure to appreciate your thoughts and prayers.

“We will keep everyone updated and thank you so much for your thoughts, prayers and support at this most difficult time.“

Kurt Hess
Sharon Hess
LPI Healthcare Financial Services, Inc. 

His current facility:
http://www.altushospice.com/index.php

Altus House
Charlie Lester - Room 6
5411 Northland Drive NE
Atlanta, Georgia   30342

Classified Ads---Sales Manager

Bayville, NJ Dedicated individual seeking a account management position, 3 years leasing experience and 15+ years sales experience. Resume furnished upon request, email Frank at weag4th@gmail.com .

Fort Myers, Florida Very experienced and strong skills with both Captive and Specialty Sales Management. Over 25 years , will relocate and travel---successful and team player. e-mail: tlinspections@gmail.com

Northeast Over 30 years experience working with Small and Mid-Ticket Brokers. Extensive current Broker and Customer Base available. sdunham@gwi.net

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

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

Tygris Cuts Back Employees

Last week "less than ten employees" were let go at Tygris Commercial Finance. In the take over of Tygris Commercial Finance Group, Inc., Chicago, Illinois, and Parsippany, New Jersey by  EverBank Financial Corporation, Jacksonville, Florida, the Parsippany office and Chicago office remained the same (Laird Boulden joined CapitalSource Inc. bringing his sale staff with him, as well as operation officers Stephen J. O'Connor and Robert S. Wille.) The Chicago office primarily was to take care of the MarCap portfolio purchased by Tygris.

The Parsippany office will continue to emphasize healthcare, office equipment, and technology as they had when it was USXL Leasing formed in 2004.  The cut backs were not due to business, Leasing News was told, but realignment.

A well informed insider told Leasing News, "This is definitely a business being built again, and it feels great. All systems are a 'go'!"

Accordingly, Tygris has the following openings: credit processor and credit officer:
http://everbank.hodesiq.com/job_detail.asp?JobID=1911277&user_id=
http://everbank.hodesiq.com/job_detail.asp?JobID=1904244&user_id=

Tygris to operate as division of EverBank
http://leasingnews.org/archives/Feb2010/2_10.htm#tygris

“The List”---March

(in both "alphabetical" and "chronological order)

--- Mergers, Acquisitions & Changes
"The Good, the Bad and the Ugly"-

Alphabetical Order
http://www.leasingnews.org/list_alpha_new.htm

Chronological Order
http://www.leasingnews.org/list_chron_new.htm

Brican America, Miami, Florida (03/10) New York Dental Association asks New York AG to investigate. (03/10) Blames Leasing News articles and Brican Viso Blog for misinformation (03/10) Brican America President Chuck Brazier makes offers to some 40 lessees to purchase lease contract back. No takers. (03/10) Brican America Finance starts putting lessees into collection for not making payments. Chuck Brazier signs documents as president of Brican Financial.

Direct Capital Corporation, Portsmouth, N.H.(03/10)Seven year veteran Bob Sweeney, Executive Vice President and CFO is no longer with the company, Direct Capital Chairman Chris Broom told Leasing News. "It was a mutual decision. Bob Sweeney played a key role here and I would be glad to be a reference for him."

CIT / Group CIT Group, New York (03/10) Reports net loss of $4 million for 2009. December 31, 2009 Common Equity of $8.4 billion or $41.99 per share Tier 1 and Total Capital Ratios of 14.2%. Reorganization-related items had a $10.3 billion pre-tax benefit to fourth quarter results. This benefit consisted of an $11.2 billion gain on debt extinguishment and related items, partially offset by an $855 million loss on the termination of certain transportation lease agreements (primarily related to the purchase of railcars previously subject to sale-leaseback arrangements) and $43 million of expenses and other net costs attributable to the plan of reorganization.

NorVergence, New Jersey (03/10) The NorVergence Bankruptcy was filed June 30, 2004 and there are apparently settlements from discovery and other issues, but it continues with recent attorney fees over $4 million, and other costs over $500,000.

Marlin Business Services, Mount Laurel, NJ (03/10) Contacted 20 brokers, says now accepting broker business from them.

LEAF Specialty Group, formerly NetBank/ Republic Leasing of South Carolina LEAF Specialty Group, formerly NetBank/ Republic Leasing of South Carolina (03/10) Stops funding news leases, to cut back on employees, with reliable source saying division to be sold or closed down.

Commercial Money Center (CMC) (03/10) Southern CA. Sterling Wayne Pirtle being sentenced to serve 57 months in custody and Ronald Allen Fisher being sentenced to serve 63 months in custody. Each was sentenced to serve three years of supervised release for his role in a $70 million scheme involving fraudulent equipment leases and tax evasion. Often with good behavior, it is half or less than the time granted.

Heritage Pacific Leasing, Fresno, CA (03/10) Main company continues to collect residuals, work on collection. HL Leasing under investigation. FBI says will be a long time with the suicide of the main party, the investigation centers on the culpability of others. Fresno office working on Home Security issues and other cases primarily in priority order.

Main Street National Bank, Texas (03/10) Ex-employees say it is 42 employees let go. (03/10) Chairman/CEO Thomas Depping says rumors not true, only a few salesmen let go.

Equipment Acquisition Resources, Palatine, IL. (03/10) Report equipment crated and being sold to German company.

Sales makes it Happen by Christopher Menkin "Beat Yesterday" Management keeps records of sales and each salesman, whether a broker, captive lessor, or lessor, should also keep records and charts to learn from them. It will help you to produce better, find more efficient, use of your time as well as create new business. If you are computer savvy, there are many programs available from Google and other sites for free, as well as Excel, PowerPoint, even Word has programs.  Once learned, they are "easy" to us. If you don't have the patience or the computer inclination, you can still keep track as was done twenty-five years ago, before the age of automation: by hand. There are two basic charts you need. They can be converted to graphics in all forms, but it is not necessary. Personally I like graphs and illustrations as they are generally very helpful to catch things you may over look in simple format.  The main thing is to make it a habit to keep your numbers up-to-date. The first list should contain the date of the sale made (not funded), meaning date when the contract is signed, name of company, contact, telephone number, address (you may want to bring out the state if you sales are multi-state), type of equipment (make it general not precise as you will find it easier to do in this method), dollar amount, and where the sale came from ( direct, referral, repeat, vendor and an extension, the vendor). The first to view is the dollar per week or per month. Recommend per week, although retailers for years keep track of sales by department daily called "beat yesterday."  You can also do it by day, if you are computer savvy, but not really necessary as per week is recommended.  You should know each week where you stand in total sales so you need to be able to kick it up a notch if you are falling behind. The idea is to be goal oriented: so much per week, so much per month. Next in importance where is the business coming from.  You may think you know already, but if you take the chart at the end of each quarter, and do a quarterly figure of the numbers, you will see a trend.  It will teach you what you have to emphasize more or specifically what is your goal from what you can see where the business is being generated. Some also make six month charts, and if you have been doing this for several years, yearly charts. Equipment will teach you where you should be going, and not going.  You do not want to get overly dependent on one industry, for instance, as if there is a down turn or become obsolescent, you will definitely be affected; especially if you are relying too much on one vendor.  You might be very happy with the volume, but you should also be looking over your shoulder if the vendor sells his company, mergers, or goes with another creditor who offers a better program (it happens.) Over a period of time, you will also see how much repeat business you are getting, and gain other information.  You can also use the list for follow-up or as a call list, rather than using another program, especially when you learn the overall view of business from the chart. The sales charts I kept under my glass on my desk, the basic sales numbers, and the other I had on a legal chart hanging on the inside of the door to the storage room (we all went there, except for clients, and it was a daily reminder for all.) The second chart to make gets back to where the business is coming from, and ties into "beat yesterday.  It is something I learned from one of the many time management courses I took early in my sales career.  I did it every day.  Most often I did it at the end of the day, but not always, as I might have traveled home from a sales call or other activity.  I always did it first thing in the morning then. In a small book (if you are computer dependent, it may work, but even when I had a computer, I still used the small book and wrote down the categories by ballpoint pen.) Where are you spending your time during the day? Write down in 15 minutes increments, basically categories such as telephone, driving, direct sales, cold calling, operations, lunch, meetings (le Tip, Kiwanis, chamber of commerce—not trade shows, if you do a lot of that, then perhaps it is a category or falls in : ) Misc. and whatever categories are routine in your day.  Keep it as short as possible, as I can tell you after doing it for months, you will wish you had started making it more simply. You also may want to take this a step further, especially if most of your day is making telephone sales calls. Chart what you are doing by categories. At the end of the week, add up the time periods.  When you record them in the weekly chart, you may want to put the actual time, but don't do that. Put the weekly results in percentages. After viewing the percentages of your first month, you will see things pop out.  With me, I realized I needed an office to have customers and vendors see me, than always driving out to them. While it was important, there was too much time spent doing this. I didn't realize how much time I was wasting (even when I had one of the first land lines when you had to call an operator to connect from the vehicle.) When I saw operations taking up too much time, I got a part-time secretary, then a full-time secretary, and the company grew as I realized the best use of my time was actually "direct sales."  This also applies to direct and captive lessor salesmen.  I know of successful such leasing salesmen who hire part-time secretaries to make lists, get things organized, and help, even though they are paid directly by a corporation. Okay, those readers who are now laughing saying, are you stupid or what, didn't you know that from the beginning the goal was more “direct sales.”  Of course, I did, but I did not realize where I was wasting time and what I can do about it to make the best use of my time now (ask Alan Lekien’s question).

Leasing Industry Help Wanted

Sales

We are looking for experienced business development  professionals with established vendor / client  contacts in general manufacturing equipment,  road maintenance, material handling , radio/TV broadcasting and other hard collateral. We have openings for in-house business development positions  and Independent Sales Associates. Contact or send resumes to: John Martella SVP 800 800 8098 ext 5209 or direct: 248 743 5209 jmartella@leasecorp.com

Please see our Job Wanted section for possible new employees.

Meet the Government Leasing Players and the Funders

Next Week

May 5-7,
AGLF/ELFA Public Sector Finance Forum
Westin Hotel, Michigan Avenue
Chicago, Illinois

Registration by Company (4/26)
http://www.aglf.org/Attendee%20Listing%20by%20Company%20Name%204.26.10.pdf

Registration by name (4/26)
http://www.aglf.org/Attendee%20Listing%20by%20Last%20Name%204.26.10.pdf

Registration Fees:
AGLF or ELFA Member $750.00
Non-Member $900.00
Government Registration* $400.00
Spouse/Companion** $200.00
Basics Session Only *** $95.00

Registration rates include admissions to all sessions,
refreshment breaks, the receptions, and continental breakfasts.

* Available to employees of state and local government entities only
** Guest registration is open only to those who accompany a registered

Registration form, who is attending by name or company,
and more about the conference, please click here:
http://www.aglf.org/spring2010.html

### Press Release ###########################

CIT Reports First Quarter 2010 Net Income of $97 Million

Earnings per Common Share of $0.49
Common Equity of $8.5 billion, $42.63 Per Share
Tier 1 and Total Capital Ratios in excess of 15%

NEW YORK---CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today reported net income for the quarter ended March 31, 2010 of $97 million, $0.49 per share.

“We continue to make progress on advancing our key priorities”

“We continue to make progress on advancing our key priorities,” said John A. Thain, Chairman and Chief Executive Officer. “We remain focused on reducing our cost of funds, improving our operating efficiencies and charting the optimal path for our commercial businesses. Our return to profitability further strengthens our financial position, which includes strong liquidity and a solid capital base. I am encouraged by the resiliency of our customer relationships, the receptivity of the capital markets, and the business opportunities ahead.”

Summary of Financial Results

Total assets declined nearly $2 billion from year-end to $58.1 billion driven by a reduction in finance and leasing assets as cash collections and asset sales were partially offset by a modest level of loan and lease originations.

Assets held for sale increased by $1 billion, largely reflecting our decision to sell certain non-strategic Vendor Finance assets outside the U.S. and student lending receivables.

Our preliminary Tier 1 and Total Capital ratios improved to 15.5% and 15.8% from 14.2% at December 31, 2009, as risk-weighted assets declined and common equity increased.

Net income included pre-tax net accretion and lower depreciation of $421 million resulting from fresh start accounting (“FSA”) balance sheet adjustments recorded in December 2009.

Net finance revenue as a percentage of average earning assets was 4.09%, which includes a 3.55% benefit from the net accretion and lower depreciation.

Non-spread revenue benefitted from gains on loan and asset sales, which were partially offset by losses on unhedged foreign currency positions.

Operating expenses declined from fourth quarter’s core operating expense level. The current quarter includes $12 million for restructuring as we continue to take actions to better align costs with our smaller balance sheet.

Credit

Overall credit performance was within expectations. Non-accrual loans, after FSA, increased from year-end levels reflecting some deterioration in Vendor Finance and Transportation Finance. Net charge-offs were modest at $42 million, as loans had been written down at year-end to estimated fair values. Excluding FSA, charge-offs were $233 million, 2.40% of receivables, significantly lower than recent quarters.

The provision for loan losses reflects the re-establishment of certain reserves eliminated in FSA and some deterioration on loans discounted in FSA. The provision includes $37 million for reserves on new originations (including Trade Finance - $27 million) and $74 million for re-establishing reserves on performing loans. Provisions also were made for reserves of $33 million on impaired loans and $42 million was provided for charge-offs in excess of existing discounts.

At March 31, 2010, the $181 million reserve for credit losses reflects the provisioning above less charge-offs and also includes $40 million of reserves for securitized loans brought on-balance sheet in conjunction with a new accounting pronouncement (no provision or income statement impact).

Operating Highlights

New loan and lease volumes, excluding factoring, declined modestly from the prior quarter to $0.9 billion. Vendor Finance programs began to expand with volume totaling $0.5 billion, and we took delivery of 4 airplanes valued at $0.2 billion.

Corporate Finance credit metrics began to stabilize. Net charge-offs, before the benefit of non-accretable discounts, were 3.55% of finance receivables, improving from 5.96% in the prior quarter. Corporate Finance selectively resumed originating loans in CIT Bank.

Vendor Finance signed new vendor relationships and successfully returned to the capital markets by executing term and conduit asset-backed financings.

Transportation Finance aerospace fleet was fully utilized, as we placed all new aircraft deliveries and re-leased all aircraft upon their lease expiration. Rail fleet utilization was essentially unchanged at 90%.

Trade Finance factoring volume declined from the fourth quarter, reflecting seasonality and some residual impact of prior year client terminations. We resumed factoring for certain clients that had previously withheld business.

Liquidity and Financing

Total cash increased to $10.0 billion, and consisted of $5.5 billion of cash available to repay debt at the bank holding company, $1.5 billion at CIT Bank, $1.5 billion at operating subsidiaries and $1.5 billion in other restricted cash.

During the quarter, the Company prepaid $750 million of high cost first lien debt and $731 million of secured rail financing using available cash resources. We completed a $667 million private placement equipment finance securitization (principally vendor finance assets), and re-established a $1.0 billion vendor finance conduit facility. Weighted average funding costs for these two financings approximates 3.0%.

As a result of our improved liquidity, cash flows from our portfolio and the success of financing initiatives, the Company intends to make an additional $1.5 billion prepayment of first lien debt to lower our cost of capital and increase finance margins.

CIT Bank ended the quarter with very strong capital and liquidity. The total capital ratio was 47.7% with total leverage at 17.7%. Total deposits were $4.9 billion, down from year-end.

CIT SEC Filing:
http://leasingnews.org/PDF/CITGROUPINC8K_04_10.pdf

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

#### Press Release #############################

Equipment Leasing and Finance Association Appoints
William G. Sutton, CAE as President

Ralph Petta Appointed Chief Operating Officer

ELFA Positioned to Continue Moving Forward Under New Executive Leadership

Washington, DC— The Equipment Leasing and Finance Association (ELFA), which represents companies in the $518 billion equipment finance sector, announces the appointment of Rear Admiral (retired) William G. Sutton, CAE, as President of the ELFA. Ralph Petta, who served previously as interim president of ELFA, was named Chief Operating Officer.

Rear Admiral (retired) William G. Sutton

Most recently, Mr. Sutton served as interim President and Chief Executive Officer of the Association, Education and Business Institute, Inc, in Arlington, VA. A former U.S. Navy Rear Admiral with 30 years’ military service, Mr. Sutton previously served as Commerce Assistant Secretary of Manufacturing and Services, a unit of the Department of Commerce’s International Trade Administration. Appointed by President George W. Bush, Rear Admiral (retired) Sutton was unanimously confirmed by the Senate.  He joined the Commerce Department after serving for five years as president of the Air Conditioning and Refrigeration Institute (ARI), an association that represents manufacturers of more than 90 percent of North American-produced central air conditioning and commercial refrigeration equipment. Mr. Sutton attained the Certified Association Executive (CAE) credential in 2007 through the American Society of Association Executives.

“Our board of directors expressed a unanimous enthusiasm and endorsement for ‘Woody’ Sutton’s appointment and we are extremely pleased to have him at the helm of the association,” said Kenneth R. Collins, Jr., Chairman and Chief Executive Officer of Susquehanna Commercial Finance Inc., and ELFA chairman.

Kenneth R. Collins, Chairman/CEO Susquehanna Commercial Finance

“His leadership combines association, policy and business skills and experience that will enable ELFA to continue moving forward as the premier trade association of the equipment finance industry.”

Rear Admiral (retired) Sutton said, “The members of the ELFA and their products, as engines for growth, are critical to the future prosperity of our country. I am excited about joining this highly professional association staff in supporting this industry during the challenging times ahead.”

During his five-year tenure at ARI, Rear Admired (retired) Sutton served as an officer of the National Association of Manufacturers’ Council of Manufacturing Associations, and he served on the Boards of Directors for the American National Standards Institute (ANSI), North American Technician Excellence (NATE), the Air Conditioning and Refrigeration Technology Institute (ARTI), the Clifford H. “Ted” Rees Scholarship Foundation, and was an active member of the U.S. Chamber’s Committee of 100. In the U.S. Navy, Rear Admiral (retired) Sutton served as Naval Aide to President Ronald Reagan and Director of Programs in the Navy Office of Legislative Affairs, in addition to numerous operational at-sea assignments, including ship, squadron and group commands. Sutton holds an M.S. in Naval Architecture and Marine Engineering from the Massachusetts Institute of Technology and a B.S. in Naval Engineering from the United States Naval Academy.

The announcement of Rear Admiral (retired) Sutton’s appointment completes an eight-month search process which was overseen by the ELFA Executive Committee and the Board of Directors and conducted by ELFA’s Succession and Transition Committee and executive search firm Spencer Stuart.

Ralph Petta will serve in the newly created position of Chief Operating Officer of ELFA. Petta served as interim president since September 2009 and has been with the association since 1987. Prior to his position as interim president, he was Vice President, Research & Industry Services.

“The association is delighted to appoint Ralph Petta as chief operating officer and to express our tremendous gratitude for his outstanding service as ELFA’s interim president over the last seven months,” said Kenneth R. Collins, Jr., Chairman and Chief Executive Officer of Susquehanna Commercial Finance Inc., and ELFA chairman.

“Ralph has been an integral thought leader throughout his tenure with ELFA and we look forward to his continuing contributions to the association and our industry.”

Ralph Petta, 2009 Leasing News Person of the Year
http://leasingnews.org/archives/Jan2010/1_05.htm#poy

Mr. Petta is a member of the American Society of Association Executives (ASAE).  He completed the ASAE/University of Maryland Executive Development Program in Association Management and was selected to participate in the ASAE Future Leaders Conference.  Before joining ELFA, Petta worked for nine years in the office of United States Senator Sam Nunn, serving in a variety of professional capacities. He was Senator Nunn's legislative assistant when he left to join the association in 1987. Petta graduated from Syracuse University earning a B.A. in Political Science.

About the ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $518 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods.  ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad.  Its over 600 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers.  For more information, please visit www.elfaonline.org 

#### Press Release ##############################

TRALA Elects New Chairman

The Truck Renting and Leasing Association (TRALA) has elected Allen Serfas, vice president of Enterprise Commercial Trucks, as its new chairman for the 2010-2011 term.

Serfas has served in TRALA's leadership for the past several years, guiding its direction through his chairmanship of the Finance Committee and Governance Committee.

"TRALA's first priority is advocacy with governments at all levels and Allen Serfas has long been engaged in the pursuit of industry-wide legislative and regulatory priorities," said Thomas James, president and CEO. "In his new leadership capacity at TRALA, he will be particularly well positioned to affect the critical issues impacting our industry in Washington, D.C., as well as in Jefferson City and other state capitols."

"The vehicle renting and leasing industry will face many new challenges over the coming years and I am ready to begin working with our members and Board of Directors to advance such issues as protecting the industry from unfair fees and taxes, overly burdensome lease accounting standards and attacks on federal vicarious liability repeal won several years ago," said Serfas during his April 8 acceptance speech.

#### Press Release ##########################

Dunbar and Rives Join Beverly Bank & Trust to Lead
Newly Formed Equipment Leasing and Finance Group

CHICAGO, Ill. – Richard L. Dunbar and Jack Rives have joined Beverly Bank & Trust, a subsidiary of Wintrust Financial Corporation (NASDAQ: WTFC), as leaders of the bank’s newly created Equipment Leasing and Finance Group. Dunbar joins as Executive Vice President and Group Head and Rives joins as Vice President of Sales.

Dunbar, who most recently served as Senior Vice President for Park National Bank, brings 29 years of experience in the equipment leasing industry which includes a decade with 1st Source Bank. He will be based out of the group’s central location in South Bend, Indiana.

Rives joins with more than 25 years in the leasing industry, having had key sales and management positions with Bank of America Leasing, Orix, Mellon Leasing and most recently, Vice President at Park National Bank. He will be based out of Roswell, Georgia.

The new unit will focus on providing financing to the equipment leasing and finance industry, primarily targeting independent equipment lessors, captive lessors, and large financial institution's leasing subsidiaries.

“We are very excited about this new branch of business,” said Dennis O’Malley, Vice-Chairman of Beverly Bank & Trust. “Dick and Jack are a seasoned pair with extensive knowledge of the industry and product understanding that will greatly support our goals of future growth.”

About Beverly Bank & Trust Company
Beverly Bank & Trust Company, N.A is a subsidiary of Wintrust Financial Corporation, a financial services holding company based in Lake Forest, Illinois, with assets of approximately $12 billion. The Company engages in providing traditional community banking services, wealth management services, commercial insurance premium financing, mortgage origination, short-term accounts receivable financing and certain administrative services. The Company provides community-oriented, personal and commercial banking services to customers located in the greater Chicago, Illinois and southern Wisconsin metropolitan areas through its 15 wholly owned banking subsidiaries. Their website is www.wintrust.com.

Beverly Bank & Trust was founded in 2004 by bankers and local business people who wanted to restore true neighborhood banking to the area. It is locally controlled and managed, providing customized products and services for residents and businesses in the area. Beverly Bank & Trust is FDIC insured, is an Equal Housing Lender and has two locations in Chicago at 10258 S. Western Ave. and 1908 W. 103rd Street. Interested community members may call 773-239-2265 or stop by either bank location. The bank’s website is www.thebeverlybank.com.

#### Press Release ############################

International Decision Systems Announces Details for Annual User Conference

ConnectionPoint 2010 includes Ralph Petta as a guest speaker plus over 40 informative sessions

Minneapolis, MN -- International Decision Systems® (“IDS”) today announced the details of ConnectionPoint 2010 which will be held on June 6-9 in Minneapolis, MN. ConnectionPoint is the equipment finance industry’s largest user conference and brings together the IDS community including customers, industry leaders and staff to share the latest information about equipment leasing and IDS solutions.

Ralph Petta, Chief Operating Officer for the Equipment Leasing and Finance Association (ELFA), will be the guest speaker on June 8. Mr. Petta’s session will provide an update on trends within the equipment leasing and finance marketplace, focusing on the drivers that impact the business, including the supply and demand cycle, key performance metrics, and the legislative and regulatory environment.

At ConnectionPoint 2010, participants will:

· Choose from over 40 sessions, many of which are hands-on and panel/discussion format.

· Become familiar with the existing solution capabilities and roadmap including multicurrency, wholesale market feedback, asset usage, and loan opportunities.

· Interact with IDS staff and learn the latest news regarding Rapport®, InfoLease®, and ProFinia®.

· Attend sessions about migration, data importation, support for multiple back-office systems, workflow automation and integration with disparate enterprise systems.

· Network with peers and business partners to share best practices.

“Each year, I look forward to ConnectionPoint,” commented Todd Davis, CEO of IDS. “As the number one global leader in our industry, we take pride in hosting the foremost user conference. Attendees of the event will have many opportunities to interact with our staff and other customers to learn the latest information and share best-practices.”

To learn more or register for ConnectionPoint 2010, visit www.idsgrp.com.

About International Decision Systems
International Decision Systems, Inc. is the leading provider of equipment finance origination and portfolio management software and solutions. Our 30 years of history enable us to deliver operational efficiency, flexibility and compliance to over 250 financial institutions and equipment manufacturers across 34 countries. The majority of our diversely accomplished staff of global professionals are focused on product development, and we offer the largest and most experienced global development, consulting, implementation, and support teams in the asset financing industry. Headquartered in Minneapolis, Minnesota, International Decision Systems also has offices in London, Singapore, Sydney, and Bangalore. For more information, visit www.idsgrp.com.

Rapport, InfoLease, ProFinia and International Decision Systems are registered trademarks of International Decision Systems, Inc.

******Announcement**************************************

New LEAN firms in Kansas, Idaho & Rhode Island

In order to better serve our clients, we are pleased to announce the addition of three experienced, highly qualified and carefully screened law firms to the Lease Enforcement Attorney Network:

Kansas:
Young, Bogle, McCausland, Wells & Blanchard – William A. Wells

Idaho:
Trout Jones Gledhill Fuhrman Gourley – Kimbell D. Gourley

Rhode Island:
Cohn Dussi & Bilodeau – Andrew Bilodeau

More than 25 LEAN attorneys will be attending ELFA’s upcoming Legal Forum in Dallas at the beginning of May. We hope to see you there!

Now in 30 locations and growing, LEAN stands ready to assist leasing companies and financial institutions with a myriad of creditors’ rights issues, including enforcement, collection and recovery, replevins, workouts and bankruptcy matters. Our goal is to provide the same outstanding service, legal expertise and reasonable rates you’ve come to expect from LEAN in locations throughout the entire country.

Young, Bogle, McCausland, Wells & Blanchard, P.A.
Wichita, Kansas - William A. Wells
Established in 1886, Young, Bogle, McCausland, Wells & Blanchard, P.A. is one of the oldest continuously operating firms in the State of Kansas. While providing a range of legal services, it has for many years served major agricultural and commercial equipment leasing companies and lenders as well as commercial real estate companies and lenders, with bankruptcy litigation, secured transactions, replevins, foreclosure of security interests, real estate foreclosures, collections and other creditor related issues. The long term clientele of the firm results from the reliability of regular client communication, promptness of service and concern with delivering legal services at a reasonable rate.

Trout Jones Gledhill Fuhrman Gourley, P.A.
Boise, Idaho - Kimbell D. Gourley
Trout Jones Gledhill Fuhrman Gourley, P.A. was founded in 1996 and provides a broad range of legal services, with particular focus upon creditors’ rights, commercial loan and lease transactions, commercial litigation, bankruptcy litigation, and collection matters. The firm represents a wide variety of national, regional, and state banks, credit unions, leasing companies, equipment retailers, and other creditors with their loan and lease transactions. In addition, the firm has represented both bankruptcy trustees and creditors in bankruptcy proceedings, and has broad experience in bankruptcy litigation. Kimbell Gourley, president of the firm, leads this practice area and also serves on the Idaho Commercial Law & Bankruptcy Section Board of Directors. The firm is a unique consortium of attorneys who first gained experience with national or regional law firms and then desired to form a small to medium sized AV rated firm to represent their respective clients. The firm is located in downtown Boise, Idaho, and has excellent access to the federal and state courts throughout southern Idaho. The firm is uniquely situated to offer experienced high-level service and expertise at small to medium firm rates.

Cohn Dussi & Bilodeau LLC
Warwick, Rhode Island - Andrew Bilodeau
The Bankruptcy and Creditors' Rights Group is the original cornerstone of Cohn Dussi & Bilodeau LLC and remains one of its highly prominent practice areas offering extensive experience in creditors rights matters, equipment leasing, corporate, commercial litigation, bankruptcy, creditors’ committee representation, assignment for the benefit of creditors, secured and unsecured lending and the representation of financial institutions. The Creditors’ Rights and Bankruptcy Group offers representation in the reorganization and restructuring as well as liquidation of financially troubled companies. On behalf of our banking, financial, real estate, venture capital investor, and equipment leasing clients, we pride ourselves on the aggressive enforcement of the rights and remedies with respect to secured and unsecured transactions. Cohn Dussi & Bilodeau, LLC has substantial experience in the representation of secured and unsecured creditors in Chapter 7, 11 and 13 bankruptcy proceedings and if a reorganization or liquidation is indicated, the Firm is experienced to handle all aspects of representation including litigation over contested claims, motions for relief from the automatic stay, defense of preference actions and other types of adversary proceedings
www.leasecollect.org

****Announcement****************************************

 

Santa Ana, CA---Adopt-a-Dog

 

TAZ
Pomeranian

Medium Adult Male Dog Pet ID: A1015370
“Friendly, but needs care as you can see.
when groomed and loved, will shine for you.”

* Orange County Animal Care Services
* Orange, CA
* 714-935-6848
OCCRocpetinfo@occr.ocgov.com
http://egov.ocgov.com/ocgov/Info%20OC/Departments%20&%20Agencies/OC%20Animal%20Care

 

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/

Classified ads—Asset Management

Asset Management: Atlanta, GA premier provide accounts receivable management functions from 3rd Party contingency collections to Portfolio Purchasing. Contact George Elliott, National Account Manager. 678-694-9063, www.westassetmanagement.com	Asset Management: Boston, MA Nationwide appraisals, remarketing, audits, inspections and more! Over 15-years industry experience and dedicated to deliver personal, prompt, professional services. Call Chris @ 508-785-1277. Email:chris@dovermanagementgroup.com
Asset Management: Minneapolis, MN NetSentric provides services to leasing companies: Inspection, Appraisals, Auditing, Warehousing, Repossession, Asset Management, Repairs, Remarketing and Field Service for Electronics and Computing Technology. Email: jcahill@netsentricinc.com	Asset Management: Monroe, NC Recover a greater return on your investment.  We specialize in the woodworking, pallet, sawmill and forestry industries.  Carolinamachinerysales.com/ Melinda Meier (704)288-1904 x103
Asset Management: Nationwide BUYER/LENDER BEWARE. Don't sign anything until Collateral Verifications Inc. goes onsite, knocks on the door and gets the facts. http://www.i-collateral.com Email: mark@i-collateral.com	Nationwide Seasoned and fair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals.  Call Nassau Asset Management 800-462-7728   dcastagna@nasset.com
Asset Management: Orange City, FL We help Lessors Liquidate un-wanted Assets valued at $750,000+. It's an effective method of Liquidating Assets such as Jets, Planes, Helicopters, Freighters, etc. Eric R. Sanders Tel  386-789-9441 www.ValuedAssetSales.com www.The-RandolphCapital.com EQPMNTLEASING@aol.com	Asset Management: Oxnard-Hollywood Beach, CA 20 Years Exp. w/Equity Analysis/Placement- Residual Forecasting Methodologies Computer Equipment Assets. Portfolio Mgr. Two Major Leasing Companies/Strong Analyst Background w/Leading Info Services Firm. E-mail: GregoryMLorenz@aol.com
Asset Management: NorthWest Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contact rossr@sequentam.com	Asset Storage/Re-Marketing: Ohio & surrounding states. Providing no cost warehousing, condition reports, digital photos and remarketing of off-lease forklifts & industrial equipment. NAFTA wide dealer network. Email to GCochran@OhioLift.com
Asset Management: Global Specializing in Semiconductor and Electronic Test Equipment collateral. Lender services include Consignment Sales, Remarketing, Portfolio Purchases, Inspections, De-installation, Repairs and Warehousing. www.testequipmentconnection.com mnovello@testequipmentconnection.com

Leasing Industry Outsourcing
(Providing Services and Products)

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

PinnFund Michael Fanghella Out of Jail, Seeks $150,000 Job

(Fanghella was the head of PinnFund, a mortgage company, and PinnFund Leasing, where officers all went to jail, including Fanghella. Leasing News started covering the California front page story in 2000. Fangehlla was convicted in 2003 and sentenced to ten years; evidently out now for "good behavior" or other reasons, and says he has “served my time.” Editor)

http://www.sandiegoreader.com/weblogs/financial-crime-politics/2010/apr/18/michael-fanghella-seeking-150000-job/

Fanghella Pleads Guilty
http://www.leasingnews.org/Conscious-Top%20Stories/PinnFund.htm

Here is the full, complete story:
http://www.leasingnews.org/docs/Pinn_1.htm

(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

ILFC founder Steven Udvar-Hazy forming new leasing company
http://blog.seattlepi.com/aerospace/archives/203539.asp

Synovus to seek $600 million in new capital
http://www.ajc.com/business/synovus-to-seek-600-498455.html

Sonoma Valley Bank ordered to raise more money
http://www.pressdemocrat.com/article/20100427/BUSINESS/100429524/1349?Title=Sonoma-Valley-Bank-ordered-to-raise-more-money

BOQ equips itself with CIT buy
http://www.theage.com.au/business/boq-equips-itself-with-cit-buy-20100427-tq5z.html

John Deere Opens Factory in $500M Russian Initiative
http://www.themoscowtimes.com/business/article/john-deere-opens-factory-in-500m-russian-initiative/404943.html

Intel CFO Sees U.S. Losing Battle for High-Tech Jobs
http://www.cfo.com/article.cfm/14492776/c_14493730?f=home_todayinfinance

Man! Twain helps ‘Idol’ singers sound like stars
http://today.msnbc.msn.com/id/36814759/ns/today-entertainment/

You May have Missed---

World’s Fifty Best Restaurants:
http://www.cnn.com/2010/LIVING/04/27/fifty.best.restaurants/index.html?hpt=C2

 

Sports Briefs ---

Poll shows Santa Clara stadium measure ahead
http://www.mercurynews.com/top-stories/ci_14957825?nclick_check=1

John Clayton just said on ESPN’s “NFL Live” that the Raiders are preparing the process of cutting quarterback JaMarcus Russell. Clayton said it is not a matter of if, but when Russell will be cut. He also said the team could release Russell before Oakland’s minicamp, which runs Friday through Sunday, and that there is no trade market for him. The Raiders will save more than $6 million if they cut Russell this year.

Inman: Raiders' deal for quarterback Jason Campbell looks like a smart move
http://www.contracostatimes.com/sports/ci_14963562?nclick_check=1

Draft: Opinions on all team choices
http://www.mercurynews.com/ci_14959121?source=most_viewed

 

California Nuts Briefs---

Playboy's Hugh Hefner helps rescue Hollywood sign
http://www.reuters.com/article/idUSTRE63P4IG20100427

1 in 3 San Francisco employees earned $100,000
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/04/26/MNC51CLUBN.DTL&tsp=1

San Jose leaders poised to cut own pay
http://www.mercurynews.com/bay-area-news/ci_14972846?source=rss

“Gimme that Wine”

Direct to Consumer Big for Small Wineries--Survey
http://www.winebusiness.com/news/?go=getArticle&dataid=73501

Grapes of Wrath
http://www.theatlantic.com/food/archive/2010/04/grapes-of-wrath/39456/

Robert Parker, Primeur 2OO9 and eRobertParker.com
http://www.drinksmediawire.com/afficher_cdp.asp?id=6553&lng=2

Interview with ‘Growing Green’ water steward Mike Benziger
http://www.grist.org/article/2010-04-26-interview-with-growing-green-water-steward-mike-benziger/

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

Baseball Poem

Three Run Homers, or, Rupert Brooke Celebrates Baseball
 
I think that I shall never see
A poem lovely as a three
Run homer when the team is pressed
Against the wall and quite distressed,
A homer that may at evening scare
A nighthawk circling in the air,
Or, 'neath the arc lights blazing bright,
Restore the score and set things right,
Rescue the pitcher and save the game,
And set the home team crowd aflame:
Poems are made by fools like me,
But only heroes knock in three.