Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.
Friday, April 8, 2011
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Archives---April 8, 2009
10 Things HR Won't Tell You About Your Resume
######## surrounding the article denotes it is a “press release”
and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.
Archives---April 8, 2009
SunBridge Capital Pushed into Chapter 11
Bank of Kansas City holding an original portfolio of $97 million, now down to $76 million, filed a motion for relief and the action appears to have pushed SunBridge Capital into a voluntary Chapter 11. There appears to be over $100 million in debt. Three creditors claiming to be owed more than $102,000 have filed a Chapter 7 involuntary bankruptcy petition against SunBridge Capital Inc., Kansas City, Kansas on March 20, 2009. There appears to be more to follow, as local banks seem to be holding the bag as well as Lakeland Bank, HSH Norbank, and Midwest Bank.
A meeting of Creditors 341(a) meeting will be held on Monday, May 4, 2009 at 11:00 AM at KC Room 173, United States Bankruptcy Court, District of Kansas.
SunBridge CEO Adrian Weber and other witnesses were called to a meeting yesterday, April 7, 2009 at 2:00pm with other witnesses to appear, including those “necessary for rebuttal, foundation, impeachment, or authentication.”
In the meantime, the list of those who have taken losses, have potential losses, agreed to a method of collecting lease payments and set up a “transition agreement,” where: "Each Lender which is signatory hereto, shall place in a separate account designed by SBM as to each lender (the "Deposit Accounts" or as to each Lender the "Deposit Account"), the amounts as set forth below:
Unsecured creditors will be filing.
There is no filing at press time regarding Portfolio's held by LEAF Corporation or New World Equipment Funding.
Attorney for Debtor and Debtor-in-Possession:
Classified Ads---Web Sites for Job Seekers
(These ads are “free” to those seeking employment or looking
Free Posting for those seeking employment in Leasing:
All “free” categories “job wanted” ads:
ZRG Leasing Index Posts 33% Increase in Q1
With unemployment rates falling across the country, the ZRG Leasing Hiring Index showed hiring demand is on the rise again in equipment leasing and finance. It appears the trend continues for direct sales personnel versus indirect or independents. The hiring is mostly centered in banks and captives, according to the ZRG Partners, although they note they are seeing increased activity in the independent sector as well.
The Index ended the quarter at 546, the highest level of hiring since the first quarter of 2008.
All signs point to a measured shift in hiring for the equipment leasing and finance market, with job openings exceeding available talent, the ZRG Leasing Index reports.
"Coming off a 60% increase in hiring in Q4, the first quarter of 2011 showed the demand for new talent is real, said Ken Vancini, Managing Partner of ZRG Partners. "“The tide seems to be turning and companies are now on the prowl for talent. Many firms are finding that advertisements and networking are not producing results like they did in 2009 and 2010. Hiring demand is increasing across the board and companies are having to rethink their talent strategies to attract the best people once again.”
He notes the makeup of the hiring this quarter also shows some interesting shifts. "Business development and sales hiring is back in vogue as companies are once again beefing up originations teams to support 2011 plans. This is running in tandem with improved funding liquidity and funding terms for many non-bank players.
"While hiring is up, we still see companies that are hiring being more selective in each hire which is causing openings to stay current longer. The belief that there are 3-4 candidates on the sideline for every role may be a myth as the market is shifting to a 'candidates' market once again."
The index is published quarterly and is based on several key proprietary data sources. These data sources include hiring data that comes directly from benchmark firms that make up the Index as well as 20 different National Job Boards and several leasing industry specific job sites. The sample group includes banks, captives and independents. The next update will be in July 2011.
Leasing Industry Help Wanted
Please see our Job Wanted section for possible new employees.
Credit Departments Still Operate in
76% Not Hiring
While most recent employment reports, including the ZRG Leasing Index above, report a number of notable job gains, the National Association of Credit Managers (NACM) report the great majority of thier members are not hiring, or planning to hire any new credit staff in the near future.
In the most recent NACM monthly survey, when asked “Is your company hiring, or planning on hiring, new credit staff?” 76% of respondents answered “no.” Only 19% of respondents answered “yes” and the remaining 5% weren’t sure. Many participants who noted their companies would be hiring credit staff in the near future commented that this was often to replace other staff members who were leaving or retiring.
One respondent noted that their company would not be hiring new credit department staff “at least not until we see a significant increase in sales where we can then justify adding staff.
The person also noted, "We have made some technological advancements that have enabled us to maintain our portfolio with a reduced staff.”
The NACM report noted that other respondents cited increased efficiency due in part to technological solutions as the reason for their company’s reluctance to add new employees.
“We have found updated software, computer systems and automated procedures that allow us to operate with the staff we have without expanding,” said one respondent.
Industry concerns have also kept some companies from adding new hires, especially those in the construction or building sectors.
“The housing market/construction industry is still in no shape to consider hiring new people in any department. In fact, some builders and building material suppliers are still laying off and closing doors. I know of three people so far this year that have lost their jobs in our industry,” said one respondent.
“Our company has been laying off people for the past three to four months. We have lost people with 12-15 years of service,” said another. “The building industry, as everyone knows, is on its ear and I see no turnaround for another two years or longer. Wages have been frozen here for five years as well, and some people have suffered cut hours and reduced pay.”
Some respondents noted that, despite sales increases, their company was relying on less permanent staffing solutions, like shared service environments or temporary hires, to maintain performance without having to add to department headcount.
“Regardless of the increase in transactional and dollar volume, ‘do more with less’ is the continued policy,” said one participant.
NACM is hold their four day 115th Credit Congress and Exposition from May 22-25, Nashville, Tennessee to share new developments and find out how those involved in credit are staying abreast with the pressures of "do more with less."
More information on the conference can be found here:
eLease Founder Starts “St. Pete Brew” in St. Petersburg, FL
The founder of eLease, Tom Williams, one of the first aggregate leasing companies on the internet, changed the concept and moved from San Francisco to Florida in 2003. He grew the company, and along the way followed his favorite hobby of making beer. He also discovered a niche and wound up helping to finance over 50 craft breweries.
In the course of crafting beer at home, he developed what he calls the Orange Wheat ale, as well as some other recipes, that his friends and neighbors wanted more than the gifts of brew he was able to provide.
His wife Michele thought it would be a good idea to be able to make more beer available for friends and neighbors, perhaps even others in their hometown.
"We started talking about how it would be great to have a local beer here in St. Petersburg," she said. "So we started a Facebook page." St. Pete Brew was born from it, with the inaugural beer St. Pete Orange Wheat, which Tom describes as ale made with orange peel and coriander seeds (4.7 a.b.v.) Right now, the beer is being brewed by one of Tom's clients, Dog Beverage in New Windsor, Maryland.
Michele Williams is the president and CEO, while Tom says he is still active in leasing, but is the brew master. The beer will be distributed in the Tampa Bay area.
Ken Glasgow and Wife Going Gangbusters
When the economy started to turn, Ken Glasgow, President of Corporate Capital Leasing Group, started winding down his leasing company with graduates of his leasing training school, as well as winding down the school, too.
He and his partner Sal Cozza, President of Flexlease Financial, changed directions, he told leasing news last year.
"Sal and I decided that we can't encourage anyone to become a Broker right now considering the climate. I have been spending my time working with my wife's cupcake business, Simply Cupcakes of Naples www.naplescupcakes.com. Similar to our leasing training program, we train people to open their own Simply Cupcakes and have opened 13 so far with 6 more coming this summer www.yoursimplycupcakes.com
"By the way, they are not franchises. They pay a one time consulting fee and nothing after that. The www.yoursimplycupcakes.com web site tells all about our training programs."
Ken has a Facebook site for his store with 2,500 on it, and it is not only for individual sales, but birthdays, weddings, and well as other events. All cup cakes are with the best ingredients, separated eggs, you name it, and well for $2.95 each and cheaper by the tray.
(This ad is a “trade” for the writing of this column. Opinions
(does not include those specifically employed in training or education, but who have a similar program as the following entities:)
Program cost: $19,950.00
In 2003, broker/lessor Global Leasing founder Phil Dushey created a new division to train independent salesmen in all the aspects of finance, including leasing ,accounts receivable financing, business acquisitions, debt restructuring, working and venture capital. His students have found great success and he spends most of his time now developing entrepreneurs, who also utilize his knowledge and sources of funds.“
" We are not superbrokers and have never been one. Occasionally we will co-broker a transaction ,but generally we function as a lessor for our own accounts. 2. Our website address for our training is www.globalbrokersystems.com 3 When we train our students we do not have them send transactions through Global. We set them up to deal directly with the lenders. We also require that all lenders who work with our students will automatically approve them to do business with them. Also our current price for the program is $24,950 We also model our training program from the experience we have from being in the business for about 25 years that a broker needs to serve all of the financial needs of their clients ,whether it be equipment leasing ,factoring,acquisitions,SBA Loans or debt restructuring, we do it all."
Philip DusheyGlobal Financial Services
17 State Street
New York NY 10004
Mr. Dushay is also on the Leasing News Advisory Board
Program Cost: $19,900.00
Since 1989 Lease One has been providing superior training along with unprecedented ongoing support to our broker network. With offices from coast to coast we proudly exhibit the foremost training experience available. Our one time initial investment will provide you with the training and support for the lifetime of your venture with no on-going fees (Hotel/Airfare/Materials/Leads are all included in this price).
“The Lease One Opportunity is the only turn key business opportunity that allows you to devote the time necessary to building a business, no need to worry about processing or underwriting your deals; we do it for you, forever! Our unique program is the only one that offers free marketing assistance along with a devoted graphics design department to enable you to creatively attract new customers to your business. Call us today or visit our website ( www.leaseoneopportunity.com ) to learn more about this exciting opportunity. We are Lease One; It's the Lease we can do!”
Joseph L. Angelo Jr.
Program Cost: $14,500
The training and support provided will allow individuals to establish their own independent brokering businesses. This program is not a franchise operation and therefore has no future royalty payments due. There is a one time upfront investment. The ongoing business expenses are determined by you.
A five day course taught by Scott Wheeler, CLP. There is no financial requirement or obligation with the application. Upon completing the pre-screening process and being accepted into the program you will be asked to sign an agreement with Wheeler Business Consulting LLC.
With over twenty-six years of leasing experience and an Executive Masters in Business Administration, Scott is an accomplished senior leasing executive with leadership qualities in marketing and operations. His extensive experience will benefit organizations looking to reach a higher level of profitability and corporate development.
Link to articles written by Scott Wheeler:
Top 10 Dying U.S. Industries
1. Apparel Manufacturing
2. Record Stores
3. Manufactured Home Dealers
5. Wired Telecommunication Carriers
6. Mills--American Manufacturing
7. Newspaper Publishing
8. DVD, Game & Video Rental
9. Formal Wear and Costume Rental
10. Video Postproduction Services
Three Active Cases—AHCS, EAR, IFC
Allied Health Care Services president Charles K. Schwartz personal bankruptcy sent out a notice regarding an examination of Mr. Schwartz assets and liabilities on May 2, 2011 at the Essex County Department of Corrections, Newark, New Jersey. Since the Essex County Department of Corrections is not equipped to provide for attendance of creditors or thier counsel, the examination will be conducted solely by the Trustee and his counsel. A transcript of the proceeding will be made available to any creditor or party in interest upon written request to Richard B. Honig, Esq. representing the trustee.
All claims must be filled with the Clerk of the U.S. Bankruptcy Court by August 2, 2011.
In the Allied Health Care Service Bankruptcy a notice of Public Auction for 10:00am, May 17, 2011 was posted and all creditors so informed (too many to name as there are 18 pages in eight point type).
Public Auction Notice (20 pages):
The criminal case against Allied Health Care Service alleged main perpetrator Charles K. Schwartz continues in plea negotiations, it is reported.
Equipment Acquisition Resources hearing is concluded and the ordered confirming Chapter 11 now moves ahead as "side issues" now resolved (Internal Revenue Service settlement acceptance by all parties).
There are neither criminal actions nor personal bankruptcy on file regarding ex-convict Sheldon Player. It is reported he still is playing at casino that are not aware of his company’s bankruptcy or his alleged involved in same.
EAR BK Plan (35 pages):
IFC Credit Corporation Bankruptcy
Over 1,000 documents have been filed to date, not including Leibowitz and Trebels or Leibowitz and First Chicago Bank and Trust Company, nor the three actions taken by Coactiv Capital Partners against Rudolph Trebels as an individual involved all three cases mentioned.
The original corporate bankruptcy was filed July 27, 2009.
(Leasing News provides this ad “gratis” as a means
### Announcement ###########################
Brian Black and John Turnacliff two new CLP's
The Board of Directors of the Certified Leasing Professional Foundation would like to extend its congratulations to the Equipment Leasing and Finance Industry’s newest Certified Lease Professionals. The letters "CLP" behind their names are a visible recognition of their experience in the industry and their professional achievement in having passed the CLP Exam.
Brian Black, CLP
John Turnacliff, CLP
The CLP Foundation is the official governing body for the Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism in the leasing industry. This designation identifies and recognizes individuals within the leasing industry who have demonstrated their competency through continued education, testing and conduct. The letters "CLP" behind their name represent a visible recognition of this professional achievement and status. The CLP Program is the only recognized certification program in the entire world wide equipment leasing and finance industry.
"We invite you to visit our site -- www.clpfoundation.org for detailed information about the CLP Foundation and the CLP Program. For further information about our Mentor Program and Anonymity Program please contact:"
Cynthia W. Spurdle
Bernie Boettigheimer, CLP, President of Lease Police, will be conducting the workshop at the National Association of Equipment Brokers Conference this weekend.
#### Announcement ############################
Boston, Massachusetts-- Adopt-a-Dog
Two photo's as the first one shows a very cute dog,
Pet ID: 10-602-bugsy
City of Boston Animal Shelter
Adopt-a-Pet by Leasing Co. State/City
Adopt a Pet
(Leasing News provides this ad as a trade for investigations
An offbeat Western (“Meek’s Cutoff”) and a subtle drama (“Poetry”) provide moviegoers with a critically acclaimed double-bill, while a blockbuster (“Harry Potter and the Deathly Hallows”) and a couple of great sleepers (“Somewhere,” “White Material”) await DVD watchers.
Meek’s Cutoff (Oscilloscope Films): Talented director Kelly Reichardt follows her acclaimed “Wendy and Lucy” with this remarkable Western saga, set in 1845. The story follows a group of settlers who, taking the wrongheaded lead of trail guide Stephen Meek (Bruce Greenwood), end up separated from their caravan and lost in the Oregon desert. Things become more complicated when they come upon an enigmatic Cayuse native (Rod Rondeaux), who’s forced to follow them as they push through unknown territory and Emily (Michelle Williams), the most headstrong of the group’s pioneer women, takes charged of the situation. Can they find the way back home, or will their journey continue going in circles? Working with an exceptional cast that also includes Paul Dano and Will Patton, Reichardt envisions an Old West that’s both naturalistic and stylized, and utterly unforgettable.
Poetry (Kino International): After the devastating “Secret Sunshine,” Korean writer-director Lee Chang-dong offers another portrait of a woman’s psyche that’s quieter and more subtle yet every bit as emotionally affecting. Veteran actress Yun Jeong-hie delivers an astounding performance as Mija, a widow in her mid-sixties who works diligently as a maid and tries to hang on to her private space as cultural changes take place around her. To pass the time she enrolls in a writing class, and the fulfillment she gets from poems gives her life a newfound meaning. Complications arise, however, with the arrival of her grandson, who may be involved in a crime, and with her own health as the early stages of Alzheimer’s creep in. The result is a sometimes painful but ultimately powerful journey. With subtitles.
Harry Potter and the Deathly Hallows, Part One (Warner Bros. Pictures): J.K. Rowling's enormously popular Harry Potter saga reaches its final, two-part chapter with this visually imaginative, surprisingly dark installment. Picking up where we last seen the characters, the film follows the adventures of Harry (Daniel Radcliffe), Hermione (Emma Watson) and Ron (Rupert Grint) as they embark on a dangerous journey to vanquish the dreaded Voldemort (Ralph Fiennes). As shadows begin to loom over Hogwarts and the villain's sinister hordes threaten wizards and humans alike, will Harry be able to live up to his elders' expectations and make the transition from boy to man? Full of endearing as well as creepy moments, this fantasy extravaganza should keep fans of the series thrilled until the second half comes later this year.
Somewhere (Focus Pictures): After the colorful excess of “Marie Antoinette,” director Sofia Coppola revisits her “Lost in Translation” themes with this minimalistic, poignant tale about the emptiness of celebrity. Set largely in L.A.’s famous Chateau Marmont hotel, it follows Johnny Marco (Stephen Dorff), a Ferrari-driving, melancholy superstar caught in a joyless circle of parties, interviews, and encounters. A ray of light comes into his overcast life in the shape of his 11-year-old daughter Cleo (Elle Fanning), who comes to spend some time with him and, perhaps, renew his long-lost love for life. Handling the bond between estranged father and daughter with a delicate touch, Coppola crafts a heartfelt and cutting vision of human connection and potential redemption that lingers in the mind.
White Material (Criterion): Two of French cinema’s fiercest powerhouses, director Claire Denis and actress Isabelle Huppert, team up for this powerful tale of personal strength in the face of volatile conflict. Huppert plays Maria, the head of an affluent French family stationed in Africa who, as the land is torn asunder by brutal political clashes, must decide whether to leave along with the other Europeans, or stay and go through with their farm’s coffee harvest. As violent confirmations erupt and a mysterious rebel leader known as the Boxer (Isaach De Bankole) seeks refuge in the farm, Maria is forced to come to terms with the tensions not only around her, but also within her own family. Typically attuned to subtle emotions and breathtaking visuals, Denis crafts a drama that will stir and haunt you. With subtitles.
This is for Attorneys to post their legal services, who specialize in equipment leasing. If there are other offices or specialties. All classified attorney ads are free. Please mention in the 25 words allowed to describe the firm and services available. If you are a member of a leasing association, please so indicate. Send to email@example.com
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This Day in American History
Birthday of the Buddha. Among Buddhist holidays, this day is the most important as it commemorates the birthday of the Buddha. It is also known as the Day of Vesak. The founder of Buddhism had the given name Siddhartha, the family name Gautama and the clan name Shaka. He is commonly called the Buddha, meaning in Sanskrit "the enlightened one." He is thought to have lived in India from c. 563 BC to 483 BC. Some countries celebrate this holiday on the lunar calendar, so the date changes from year to year but it always occurs in either April or May. This day is a holiday in Indonesia, Korea, Singapore and Thailand.
Stanley Cup Champions This Date
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