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Kit Menkin Leasing News

supplies businesses and consumers with information about the leasing industry. We have independent, unbiased, accurate, and fair news about leasing. Feel free to browse our site and learn everything you need to about leasing.




Correction: Bonanno is NAELB Legal Counsel Now, Not Marks

    Classified ads---Attorneys

        This Week's Economic Events

                Former UAEL Ray Williams Responds to Bob Rodi

                    Bob Rodi Apologies to NAELB

                Update on the State License Project

        Fitch: Aircraft Lease Rates To Fall Additional 15%-20%

    News Briefs---

Sports Briefs----


Tomorrow: Exclusive Interview with Michael Fleming, CAE

President of the Equipment Leasing Association


This Border ##### Denotes Press Release (Not Written By Leasing News)



Correction: Bonanno is NAELB Legal Counsel Now, Not Marks


The National Association of Equipment Leasing Brokers makes

changes on a fiscal basis, Barry Marks, Esq. is not the legal counsel “this year,”

it is Joseph Bonanno.


From: Barry Marks



“Just so Joe Bonanno doesn't gleefully retire and leave me to field HIS member calls, he is the NAELB legal counsel - I retired to a rest home

and am now watching American Idol reruns and making plastic flowers.”





Classified ads---Attorneys


California - statewide: CA "ELA"

5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders,plus collection and creditor rep. in bankruptcy.


California - statewide: Encino, CA. "ELA"

24 Attorney AV-rated Law firm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court.



Los Angeles -statewide: CA "ELA "

Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email:

NY Metro and National: Hackensack, NY

Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. "ELA"


National: “ELA” “NAELB”

Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs:


Northern California - Statewide: CA "EAEL" "ELA" San Francisco expertise at San Rafael,CA prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq. 415-721-7900






This Week's Economic Events


April 7


Consumer Borrowing: February

ELA Principles of Leasing

Marriott Fisherman's Wharf

San Francisco, California


April 8


ELA Principles of Leasing

Marriott Fisherman's Wharf

San Francisco, California


April 9


ELA Principles of Leasing

Marriott Fisherman's Wharf

San Francisco, California

Equipment Leasing Association

National Funding Exhibition

Fairmont Hotel, Chicago, IL.

(to be covered by Paul Menzel

for Leasing News )


April 10


Balance of Trade: February

Sales of Leading Retailers: March

Weekly Jobless Claims


National Funding Exhibition

Fairmont Hotel, Chicago, IL.

(to be covered by Paul Menzel

for Leasing News )

April 11


Producer Prices: March

Retail Sales: March





Former UAEL Executive Director Ray Williams,Ph.d,CAE Responds to Bob Rodi


Thank you for the invitation to respond to Bob's letter. Just two things. I am very proud of what was accomplished at WAEL/UAEL during my tenure. Enhancement of publications, the CLP handbook, the CLP academy, national expansion, jointly sponsored conferences and the regional funding symposiums: these were all accomplished by a visionary leadership -- the best that I have ever had the privilege of working for and with.


WAEL/UAEL's leaders were some of the best minds in the industry. Most of these people are still there and they still have the best interests of the industry at heart. Because of them, UAEL. will survive and prosper.


Thank you for the opportunity to give credit where it is surely due.






PS Once again, I congratulate you on an excellent E-publication. You are doing the industry an invaluable service.




Bob Rodi Apologies to NAELB


Please print my public apology to the very adept leadership at National Association of Equipment Leasing Brokers. My comments were was not meant to be "back biting” or derogatory against anything the NAELB has done. In fact, I had a conversation with Gerry Egan who will be the NAELB past president, and Rick Wilbur, who, I believe, is an incoming board member and also a long time UAEL member, regarding the very items I mentioned in those comments. If they haven't already done so, I would ask that Bob and Barry, speak directly to these two dedicated volunteers regarding their personal opinions on my comments.

NAELB has done a great job but, for me, addresses to narrow a constituency. The operative word here being "ME". The pure "broker" becomes less and less important to the equipment finance process on a daily basis. Regardless of what is stated publicly, I received 8-10 calls and/or emails regarding LeaseNOW's funding process, use of warehouse lines and our technology platform, as a result of the comment that was under the picture you ran in Leasing News.


Here's the really interesting thing. All but three of those people were NAELB members who were curious about how we put this process together. Associations should be working to get new bona fide funding sources to the table. To perpetuate the myth of the "superbroker" as a funding source is a disservice to newer members of our community.(again, my opinion) I was not trying to brag about the capability of LeaseNOW. I was merely pointing out that many of the "funding sources" that attend these conferences, are not. Gerry Egan asked me if I would consider coming as funder because we have a fairly unique program for the franchise industry. While we fund the bulk of that business in house I do not consider LeaseNOW a "funding source" and would not represent my company as such. In my opinion, that is in keeping with our industry code of ethics that governs my business life.

I don't ask people what association they belong to but several of the people that called me had just attended the Chicago conference. Several of them stated that they would like to see more about warehouse lines, credit scoring and technology issues as a topic at future conferences. This does not mean that the content that was offered is not valuable, it simply means that other topic of interest were passed over or the leadership could not fit it in to that particular program.

Bob Bell is correct in calling me out on the fact that I have not attended a NAELB conference. Gerry Egan had talked to me about attending in Chicago and I gave it consideration. I really like and respect Gerry, Barry Marks, Joe, Bob Bell and many of the other NAELB members. I have contact with a lot of their membership because of commentary in Leasing News.


I received the conference brochure in the mail and, when I saw several of the presenters, I made the final decision that I would not attend. I'm sure many of the NAELB members would feel the same way when they see my name as a speaker at the UAEL conference.

And, by the way, Barry, my personal mission with respect to certain individuals, may have taken the place of some other process available to any association. In my experience, however, processes involve politics and I hate politics. Politics generally implies some sort of stupid diplomacy and I'd just rather call somebody a scumbag rather than dance around the subject with some committee that doesn't want to hurt someone's feelings.

In summary, while my comments may sound like back biting to Barry, or may have been taken somewhat personally by Bob Bell, they were neither meant to denigrate NAELB nor offend its leadership. In fact, those comments were meant to transcend the petty differences that I have always seen between and among the associations. The associations are the "visible" representation of the third party segment of our industry so anything that they do, as far as I'm concerned, concerns everybody whether they are a member or not. Look back in Kit's archives and you will see that many people have commented on this.

As a case in point, I told Gerry Egan during our conversation that I thought it was a mistake for the NAELB to restrict voting to "brokers" only. What does that mean anyway? If someone discounts a deal, or puts their name on the docs, have they violated the "broker only" secret handshake criteria of the NAELB by-laws? Because I still "broker" 10-15% of my business, would I be eligible to be a voting member of NAELB or is calling myself a "broker" sufficient. Would Barry Marks take me to task before the ethics committee if I said I was a broker but really discounted my deals?

I am of course asking these questions, tongue in cheek, as I am somewhat certain that Bob Bell, and maybe even Barry, as soon as they were done being angry with me, would allow me to join the NAELB, albeit at a penalty for leveling my occasional "non-member" criticism.

I don't comment to offend the current or past leadership of any association. I comment because the equipment leasing business has been good to me. When I was a start-up, working out of my bedroom office there were people who would help me, share information, teach me, etc. I met them through my involvement in an association. If I see curricula or people who are disseminating archaic information, or anything that would lead new people down a path that would not only be bad for them, but bad for the leasing business, then I will speak my mind. All anybody needs to do, is remember what opinions are like, and that I will always have one. I can't help myself. If I can't get in a good argument with someone on a daily basis I will suffer withdrawal.

Bob Rodi,CLP


LeaseNOW, Inc.

1-800-321-LEASE (5327) x101

PS: Hal Horowitz is a nice guy and he was an excellent volunteer leader at the WAEL but after his time as president he wasn't around very much. He is correct that it is the responsibility of the association leadership to determine the direction of the association. I am pretty certain, however, that he never saw the book on Ray's shelf, entitled "How to Control Your Board and Executive Committee" If the leadership got too "involved" with the day to day operation of the association we were accused of "micro managing". By the way Hal, the leadership finally did "correct" those problems and set a new direction.





Update on the State License Project.




“ I wanted to give you a quick update on the State License Project.


The information for three states has been submitted since 3/20/03. CA, OH +



Perhaps you could post this again.


With all the kvetching about belonging to associations or not belonging,

here is a project that is FOR the leasing community and everyone who submits

is automatically part of the "in crowd" and gets to benefit from it.


So please everyone take a moment and give your interpretation of "your"

states laws regarding any licensing or filing requirements that you do to

protect yourself.


This information will be compiled and posted on Kit's website as a starting

point in choosing the legal filing strategy for your company.


Please email your knowledge on this subject to:


The Subject line should be "License" + the two letter abbreviation for the

State you are responding about.


Example: "License NY" or License MA" or "License CA", etc...


Thank you. Jim


James A. Hill





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


Fitch: Aircraft Lease Rates To Fall Additional 15%-20%


Fitch Ratings- Aircraft lease rates are already down between 10%-50% from pre-Sept. 11 levels, and Fitch Ratings anticipates that lease rates will fall an additional 15%-20% or more in 2003, according to a new report on aircraft operating lease asset-backed securitizations (ABS) published yesterday by the rating agency. Aircraft lease ABS transactions with the least liquid aircraft and the most terminations in the next 12-24 months will experience the highest cash flow impairment and, consequently, will be the most likely candidates for a rating downgrade.


'It is hard to imagine a year more difficult for aircraft operating lease asset-backed securities than 2002, but, unfortunately, the worst is not over,' said Donald Powell, senior director, Fitch Ratings. 'Fitch Ratings expects lease rates to continue their downward spiral in 2003 due primarily to continued economic softness, which could likely be intensified by the far reaching effects of the war with Iraq and the possibility of new terrorist activities.'


If the liquidation of one or more large U.S. airlines were to occur, the utility of many aircraft types would be impaired and the lease rate decline would be exacerbated. The factors that will have the most impact on the magnitude of performance changes in aircraft lease ABS transactions will be the liquidity of the aircraft in the portfolio and the amount and timing of the lease terminations.


The new report titled 'Aircraft Operating Lease ABS: Iraq and Beyond,' is available at '' Fitch's subscription based web site by selecting 'special reports' under the 'ABS sector'.


Contact: Donald Powell 1-212-908-0570 or Wendy Cohn 1-212-908-0681, New York.


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




News Briefs---


Economic tsunami


New York area to be hit by heavy snow again



Sports Briefs---


Buc Owner Glazer's Interest In Dodgers Has Different Possibilities


Redzone Mock Draft


Bobby Jones' major Golf legend sprinkled his stardust on Masters




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2003 Annual Spring Conference

May 14-16, 2003
Four Seasons Hotel,
Las Vegas, NV


Wednesday, May 14 2:00 PM – 4:00 PM Basics Session

Thursday, May 15 8:00 AM – 5:00PM Keynote Speaker, General Sessions and Luncheon
Evening – Annual Conference Dinner Event

Friday, May 16 8:00 AM – Noon General Sessions, Ending with the Lawyers’ Panel

If you are interested in becoming a sponsor for the 2003 Annual Spring Conference please (Click Here)

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