Tuesday, December 13, 2005
Headlines--- Archives--Paul Torres Predictions ######## surrounding the article denotes it is a “press release”
Archives---December 13, 2000--Paul Torres Predictions “If you believe in the deal, buy it. Consider every deal as your own money. Would I invest in it?? “The industry's blood bath is just beginning. If the business climate does not improve soon, I expect to see unemployment at 5%, GDP at 2%, and the budget surpluses gone by 12/2001. “As a funding source working with a select few originators, I have been looking at transactions much harder in the last 120 days. Inflation has crept in as higher energy and labor costs. I do not believe that productivity improvements have counterbalanced the cost-based inflation. Sooner or later, it will show up on FYE financials on small businesses and float to the top tier, larger name brand companies. (This is my trickle-up theory.) “ Paul Torres (The above is from a series of observations by readers. Paul was then with Bay View Capital Leasing. Here is what happened to BVCL:) “Bay View Capital, San Mateo, CA (7/03) (the Company) reported net assets in liquidation of $409.9 million, or $6.37 in net assets in liquidation per outstanding share at June 30, 2003 as compared to $411.0 million, or $6.41 in net assets in liquidation per outstanding share at March 31, 2003. (8/2001) Jeff Allard last day, door now closed says "Goodbye", going to co-produce "Texas Chain Saw Massacre" movie. (7/2001) reports a second quarter 2001 net loss of $95.4 million. (5/2001) Jeff Allard, CLP, COO ... "decided to exit the commercial leasing business and other business lines due to the strategic change in the company's direction as determined by the new management team." Parent company running out of money, a lot of good people let go. (2/2001) reports fourth quarter net loss of $92.5 million. (12/2000) Announces $17 million loss/later does not issue dividend.” Leasing News "The List" http://www.leasingnews.org/list.htm -------------------------------------------------------------- Classified Ads—Collector/Controller/Contract Administrator Collector
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For a full listing of all “job wanted” ads, please go to: http://64.125.68.91/AL/LeasingNews/JobPostings.htm To place a free “job wanted” ad, please go to: http://64.125.68.91/AL/LeasingNews/PostingForm.asp -------------------------------------------------------------- Royal Links and the Lessors to meet Thursday
"December 15, 2005, the Royal Links principals will be questioned at length by the Trustee in Ohio , by some equipment Lessors, and certainly by the Class Action lawyers who have sued the company. We hope to establish that the salesmen who spread the lies about the now famous beverage cart were not authorized to represent the equipment lessors. This is the classic dual agency issue, and if the equipment lessor has good documents, good underwriting procedures, and favorable testimony from the principals, they, the lessors may actually see light at the end of the tunnel and the portfolio may have some prospects of being mined, e.g., collected. Thought you would want to know. Keep up the good work, Kit. Regards, Tom McCurnin Visit our Web Site at www.bkolaw.com Eleven lessors, entered into leasing over 5,000 carts. The National Golf Course Owners Association, via a group of hired the Chicago law firm of Lord, Bissell and Brook for a class action suit. Jay Karen, Director of Membership for the National Golf Course Owners Association web site, summed up the matter: “ Royal Links USA entered into written agreements with over one thousand golf courses throughout the United States , in which golf courses would use Royal Links' beverage caddies to display and sell food and beverage items on the golf course. This “no cost beverage caddy” program involved golf courses leasing the caddies from third-party leasing companies, and Royal Links USA agreeing to reimburse the golf courses for their lease obligations. Royal Links USA proposed to make their revenue from advertising display panels on the beverage caddies. According to a golf course general manager who contacted Leasing News about the story, “Royal Links USA, Holland , Ohio , had salesmen call on golf courses to offer free beverage carts. (cold beer, wine, soda's, snacks.) The courses would use them and allow advertising panels to be displayed by Royal Links. Various national merchandisers would pay Royal Links for ads. Royal Links supplied products for free with delivery, and also paid the courses a lump sum (normally $1000) to initially stock the cart with startup merchandise. “Courses entered into an agreement whereby Royal Links paid the course about $300 per month in sponsorship money, which was then sent back to their leasing arm as a lease payment. This arrangement was simply explained as their accounting procedure. The general manager thought he was signing a contract with Royal Links finance, which in turn were sold off to the eleven leasing companies from $11,000 to $12,500 each. It was similar to a Ponzi scheme, which evidently forced Royal Links into Chapter 17 bankruptcy on August 19,2005. Leasing News is also trying to determine if the Royal Links contracts contained a residual clause for the golf courses. In a letter to Leasing News, a reader claims that the contracts did have a residual. The attorneys for the golf courses have printed on line the contracts, and they appear to be "fair market value." They also have what are known as "evergreen clauses," that the contracts are automatically renewed at the conclusion. One of the lessors involved stated the residuals were $1.00, and the claim that there was a "residual" value is false. Here is a copy of the letter written to Preferred Capital, which also has a copy of the private label leasing contract: http://leasingnews.org/PDF/Royal_Links_Preferred_Capital.pdf Here is a copy of the complaint, 42 pages, 30mb download in pdf format (Please be aware, this is a long down load as it is a very large file and will be five minutes even on a T1 line): http://leasingnews.org/PDF/Royal_Links_Comp_040105.pdf Previous articles are located here: http://www.leasingnews.org/Conscious-Top%20Stories/11_Lessors_in_the_rough.htm -------------------------------------------------------------- 330 Attended the Boca Raton ELA Conference by Christopher Menkin
Leasing News was informed the November-December, edition of “ELT, the Magazine of Equipment Leasing & Finance,” now in the mail, will have a story on the Equipment Leasing Association (ELA) Boca Raton Conference, stating “...there were approximately 330 attendees at the convention;” over $1,000,000 registration fees paid by those who did not attend? Perhaps there should be a ground swelling of ELA membership support, or a drive to replace money that is to be reimbursed, or a lease to those who registered, payable back in cash over thirty-six or sixty month payments, or discounts to future conferences, or given to the association as a donation as certainly the loss of funds is serious to the operation of the associations. Perhaps with the announced retirement of Michael J. Fleming, CAE, 26 years of leadership, a tribute to his hard work should also be considered to help repay any reimbursements.
Earlier reports from ELA had estimated 400-500 attended, as well as 1200 had registered. A spokesperson yesterday clarified this, stating, “There were just over 1000 registrants, not 1200. The 330 attending were just under one-third of the registrants .” Assuming the numbers are correct, that leaves 670 members who did not attend times the average cost of $1,550, or $1,038,500; not counting vendor fees, who did or did not attend. Plus the costs of speakers, printing, advertising, program, staff time, room and travel costs, this is then a sizeable chunk of the association operating costs, and is a very serious number. There were complaints regarding not returned registration fees, due to the hurricane. Airlines and hotels reportedly waived their “hell and high water” paragraphs and returned money to those who had made reservations. While ELA had a “hell and high water” too, they were not originally going to return any money. Bowing to pressures of members who did not attend, on November 1, 2005, the ELTnews ran a story that, ” ELA intends to return a portion of the registration fee to each and every individual who registered for the convention. The amount will be determined in the next few weeks, once we have as ascertained the cost of ELA's various expenses for the convention.” An ELA spokesperson also told Leasing News, “ The reimbursement info will come later. It's not in the magazine article.” How this is financially going to be treated should include members who did not go, contributing, as well as other members who did not attend, donating to a specific fund to overcome the financial loss that occurred due to this act of nature. Non-members of ELA may also purchase “Equipment Leasing Today” articles, or subscribe to the magazine, by going to: http://www.elaonline.com/Store/ Previous stories on the Boca Raton conference registration are located at: http://www.leasingnews.org/Conscious-Top%20Stories/ELA_Conv.htm -------------------------------------------------------------- Funder List ( for funders specializing in “Story Credits," please click here There is no advertising fee or charge for a listing. They are “free.”Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list. There are an estimated 15,000 "funders" of leases in the the United States, including 7,640 FDIC insured banks, 1,226 FDIC insured Savings & Loans, and related companies such as corporations such in the business of insurance, investments, financial groups, and manufacturing. Many establish a minimum dollar amount, creating a line of credit ( portfolio) and specific requirements, accepting business both from a "broker/lessor" or "super broker/lessor" with "representations and warranties" or other "recourse" arrangements. To qualify for this list, the company must be a "funder" and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. The company may sell off its portfolio from time to time, but the definition is for a company or financial institution where 50% or more of its business is from actually "funding" transactions themselves. Leasing News reserves the right to not list a company who does not meet these qualifications. We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged. ( To apply to be listed, please fill in this form and fax to 408.374.3843) A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
(A) Pioneer Capital originates all it's paper from brokers - 100%. Pioneer is a full service funding company that holds 100% of its transactions internally. We have over $150 million in small ticket leasing lines. We offer "A", "B" and in some circumstances "C+" credit coverage. We also offer franchise, medical, and new business leasing programs. Accepts Broker Business - to apply for to http://www.pioneerfunding.com/becomebroker.html. Private Label Program - Pioneer offers private label documents and discounting programs to eligible brokers. (B) BWC Equipment Leasing only funds deals in Northern California. Sub-broker accepted only is disclosed up-front. Broker must sign "Representation and Warranty" broker agreement. (C) Dolsen Leasing, see our Broker Application at www.dolsenleasing.com . While we do not require brokers to be licensed, we do a background check on all prospective brokers. While we have both inside and outside sales people, we are always open to expanding our broker network. (D) TFC Equipment Finance is a wholly owned subsidiary of TCF National Bank (TCF). TCF is a subsidiary of TCF Financial Corporation. (E) NetBank Business Finance accepts sub-brokered transactions only from a select, pre-approved group of broker/lessors. NBF is a wholly owned subsidiary of NetBank, Inc. and will occasionally accept lease and loan referrals from other NetBank companies. (F) Madison Capital - Broker should be in business at least 2 years. Private Label program requires six months positive experience working with them; and only after the 6 month term we offer the brokers or discounter a contract that allows them to put their name on it, primarily for marketing purposes. We originate business through both direct sales and indirect sales. However, we offer broker protection and are extremely vigilant about it. One clarification. We do offer financing to restaurants, but not for their exhaust hoods, an item we are frequently asked about. (G) ICB Leasing - Business is conducted only with approved brokers. In addition, Brokers must not only be approved by ICB but licensed where appropriate. We will permit use of ICB Leasing Corp. lease docs in approved originators name and purchase/take assignment of lease. (H) Balboa Capital:
(I) BUTLER CAPITAL – For nearly three decades, Butler has purchased loans and leases – individually or in portfolios – from lessors and brokers nationally. Butler 's inclusion in the 2005 edition of the “Monitor 100” underscores the firm's commitment to funding deals quickly, structuring deals professionally, and avoiding the limitations of app-only credit scoring. As a direct lender with wholesale lines of credit ready to be tapped for our broker/lessor clients, we pride ourselves on common-sense, individualized credit decisions on a wide variety of equipment. We invite no-obligation calls! Butler does not require brokers be licensed except those in states that require such licensing. We welcome both opportunities to fund brokers' transactions under our name or create private-label programs to enable brokers to market their own services more broadly. Although Butler has in-house sales personnel, we do not solicit the customers of our broker/lessor clients; rather, we work to preserve and enhance a broker's relationship with his/her customer. (J) American Bank Leasing provides fast responses and high touch service for small ticket transactions. Our online system provides “almost instant” approvals up to $100,000 and the ability for you and your vendor to view transaction status. Our experienced staff is empowered to use a common sense approach to lending. Private label program reserved for our top producing partners. (K) Allco Leasing was purchased in April 2005 by LEAF Financial Corporation, a wholly-owned subsidiary of Resource America Corporation (NASDAQ: REXI). Allco Leasing provides a middle market leasing product for LEAF. We are not collateral oriented and are industry generalists. Allco specializes in rapid responses to difficult to understand credits operating within the “A- to B+“ arena. Startups are considered with experienced management and strong guarantors. (L) SunBridge Capital is a direct funding source. We specialize in commercial equipment such as construction equipment, work trucks, titled vehicles and more. Because we understand the value of the assets we fund, we are able to approve a wider range of customers than most other lenders, and deliver approvals in one business day or less. We are committed to providing unprecedented sales tools to the Broker community. We give you the flexibility and control that you need to best serve your customers and to realize your business goals. This includes our on-line broker financing application at www.sunbridgecapital.com/apply . Approvals are delivered as parameters, which allows our brokers to structure the most appropriate deal for their customers and increases their likelihood of closing. *We are in the process of developing our private label program. Some documents can be customized for our regular brokers. **We work direct with vendors who prefer to do business with a direct funding source; and those with whom we have a long standing relationship. We will never attempt to develop a vendor relationship as a result of information obtained from one of our brokers. (M) Centennial Bank - Prompt service, quick review, new & use equipment. No outside sales force - "Brokers Preferred." Brokers must be approved. (N) Commonwealth Capital Corporation does not directly originate, we do not compete with Lessors. We only buy deals from Lessors. (O) Enterprise Funding equipment restrictions: -------------------------------------------------------------- Classified Ads---Help Wanted Documentation Manager
Equipment Finance & Leasing Representative
Senior Funding Manager
-------------------------------------------------------------- “Broker/Lessor” List (for “Funder,” please click here There are an estimated 5000 companies who process applications to present to a third party, who often make the final approval and “fund” the transaction with a standard “representation and warranty” provision. These companies are similar to an insurance agency or mortgage firm. Size may very from a single person to a national multi-office operation. Some in this category may select transactions for a private portfolio from their own cash or bank lines, which they fund direct. 50% or more of their business is as a “Broker/Lessor.” Often their clients are primarily in a specific industry, service or geographic area. Many also market directly to potential lessees, rather than be referred by a seller of equipment. There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have a satisfactory Better Business Bureau report, and no unresolved complaint at Leasing News from an applicant or company involved in the equipment leasing industry. Leasing News reserves the right not to list any company who requests to be listed. Companies, who act as a funder in over 50% of their business, servicing their own portfolio, are listed in the “Funder” list. “Story Credit” are funders who have a niche market, often requiring the “story” of the company to make a credit decision. Often their rates are higher as the credits are consider a “higher risk” than standard for the dollar amount involved. A “Super Broker/Lessor” rarely considers business direct, but work on referrals from a “Broker/Lessor,” funders, and, financial groups, manufacturers, and others who cannot fit the transaction into their criteria. ( To apply to be listed, please fill in this form and fax to 408.374.3843) Third Column: YES - Year Company Started | YELB - Years in equipment Leasing Business A - City Business License | B- State License | C - Certified Leasing Professional |
(A) Stoddard & Associates - No Employees. We currently have Independent Affiliate Brokers with offices in the states of Alabama, Florida, Georgia, Iowa, Massachusetts, Missouri, Nevada, New York, Texas and Washington. --------------------------------------------------------------- Super "Broker/Lessor" List ( for “Funder,” please click here There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list. For those who want to be listed on this form, please fill out Super "Broker/Lessors" Form A -Requires Broker be Licensed | B -Sub-Broker Program | C -Warehouse Line | D -Also a Funder
(A) BSB Leasing, Inc has been providing syndication services for brokers nationwide since 1982 and have been funding business directly since 2002 through BSB Direct Finance, LLC. We offer Brokers a complete internet solution for credit submission and tracking and document preparation. --------------------------------------------- These companies, perhaps numbering below 100, are the smallest group, considered the “elite,” as they exist because they have the knowledge and experience to know who and why another would be interested in a specific transaction. They also exist because they rarely consider business direct, but work on referrals from “broker/lessors,” funders, banks, financial groups, manufacturers, and others who cannot fit the transaction into their criteria. A leasing application may also come to them because they do not have the "volume" for the source the "super broker/lessor" may have; they may be "too new" in business to qualify for many sources: do not meet the minimum dollar required from the referral; they may be looking for a better rate than their regular sources, or the transaction was originated by another broker and they need to acknowledge that the transaction comes from another broker, called "sub broker," in the trade (most funders will not accept business from that has been “re-brokered.” .” As important, the sender may not have a regular source for the specific transaction they want to place, such as a young privately held company wanted the lease as “corporate only.” For whatever reason, they come to a "Super Broker/Lessor" to place the transaction on their behalf. In the question of sub-broker business, we take for granted that the “Super Broker/Lessor” not only has a written agreement with the sub-broker but informs the lessor when submitting an application it has come from a sub-broker. A violation of this will have the company removed from the list. In addition to the above qualifications, the "Super Broker/Lessor" must have a "clean" Better Business Bureau rating, no Leasing News Bulletin Board complaints or a poor record, and must belong to a national leasing association, as we view this that they are professional and abide by their association standards and code of ethics. We also will be verifying warehouse lines or "Funder" lines with their bankers (as done with those on the Story Credit List.) Leasing News reserves the right not to list any company it believes does not meet the qualifications as stated above. ---------------------------------------------------------------
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--------------------------------------------------------------- CIT Small Business Outlook Finds Sustained Optimism among Commercial Lenders are Primary Source for Small Businesses to Obtain Capital NEW YORK, -- Eight out of ten small businesses expect their revenues to grow in 2006, according to the CIT Small Business Outlook, a nationwide survey conducted jointly by CIT Group Inc. (NYSE: CIT) and BusinessWeek Research Services. The survey also found that established small businesses (69%) prefer to raise additional funds from commercial lenders because it allows them to maintain control. "The performance and optimistic outlook reported by small businesses in the CIT Small Business Outlook shows the strength of this important engine of the U.S. economy. The key to their continued success will be ready access to sources of capital," said Tom Hallman, CIT's Vice Chairman for Specialty Finance. "The survey revealed what we at CIT know to be true: small businesses are best served by lenders that do not interfere in management decisions." The CIT Small Business Outlook provides key insights into America 's small businesses and their capital needs: * Seven in ten small businesses (71%) have performed well over the past 12 months (relative to the economy) The CIT Small Business Outlook continues to gauge the pulse of the U.S. small business sector by monitoring current and future business conditions, spending and investment intentions, and growth prospects. The Outlook collected responses from 353 companies nationwide, with approximately 5 to 100 employees and revenues of $15 million or less. Participants were all key influential business decision makers in more than 40 industries, with a high concentration in consulting services, IT, healthcare and pharmaceuticals, publishing, financial services, real estate, manufacturing, and construction. The results of the CIT Small Business Outlook are published in the Winter 2005 issue of BuisnessWeek's SmallBiz. About CIT Small Business Lending Corporation CIT Small Business Lending Corporation, a business unit of CIT Specialty Finance, offers Small Business Administration (SBA) loans to finance business acquisitions, owner-occupied real estate purchases, franchises, and medical and professional practice start-ups, through a network of field representatives. The nation's #1 SBA lender for six years, CIT Small Business Lending has been designated a "Preferred Lender" by the SBA and can provide quick credit decisions and loan closings. The company's website and online SBA loan application are located at: About CIT CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance company, provides clients with financing and leasing products and advisory services. Founded in 1908, CIT has over $60 billion in assets under management and possesses the financial resources, industry expertise and product knowledge to serve the needs of clients across approximately 30 industries. CIT, a Fortune 500 company and a component of the S&P 500 Index, holds leading positions in vendor financing, factoring, equipment and transportation financing, Small Business Administration loans, and asset-based lending. With its Global Headquarters in New York City and Corporate Offices in Livingston , New Jersey , CIT has approximately 6,000 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim . For more information, visit http://www.cit.com. About BusinessWeek Research Services BusinessWeek Research Services (BWRS) is the custom marketing research division of BusinessWeek with more than 50 years of combined experience. This group of research experts regularly conducts primary research studies for established companies including technology and financial clients as well as leading agencies. For more information about BWRS, please contact Marc Scheer at Marc_Scheer@businessweek.com or (212) 512-2298. SOURCE CIT Group ### Press Release ########################### Graphic Savings Group Launches Municipal Leasing Program In an era where public agencies are struggling to balance budgets and fund programs, Graphic Savings Group is proud to launch a Municipal Leasing Equipment Program. “We understand that the current fiscal climate requires public officials to consider alternative options and creative financing. Graphic Savings Group is looking to partner with government agencies to resolve budgeting difficulties and provide real answers to real budget issues,” said Andrew Bender, CEO of Graphic Savings Group. cxcs The newly designed Municipal Equipment Leasing Program offers tax exempt financing on all office equipment and peripherals needed by public agencies. The Graphic Savings Group specializes in high-volume production equipment; relying on the 25 years of experience in the graphics industry brought by the principals of sister company JJ Bender. Leasing specialists at the Graphic Savings Group will work with city, county, or state governments to fill short-term or long-term needs. The Municipal Equipment Leasing Program is designed to allow government agencies to procure new equipment. Graphic Savings Group can help with equipment servicing and vendor negotiation as well. The key to successful fiscal management for public entities is to have a variety of cost efficient alternatives. “We want to help public officials to think creatively about their problems and proactively address their equipment needs,” said Bender. About Us Graphic Savings Group is a cash flow management consulting company. GSG specializes in leasing high volume copiers, printers and other IT equipment. Whether you are a Fortune 500 company or a start-up venture, Graphic Savings Group helps clients control the velocity of money. For more information visit Graphic Savings Group online at www.graphicsavings.com or call 203.336.4034. Contact: Jonathan Bender (jbender@graphicsavings.com) 203.336.4034 ### Press Release ########################### DealerTrack Sets Price for Initial Public Offering LAKE SUCCESS, N.Y., -- DealerTrack Holdings, Inc. today announced the initial public offering of 10,000,000 shares of its common stock at a price of $17.00 per share. Shares of DealerTrack's common stock will be traded on the Nasdaq National Market under the trading symbol "TRAK." In the offering, 6,666,667 shares are being sold by DealerTrack and 3,333,333 shares are being sold by the selling stockholders. In addition, DealerTrack has granted the underwriters a 30-day over-allotment option to purchase an additional 1,500,000 shares. DealerTrack will not receive any of the proceeds from the sale of shares by the selling stockholders. Lehman Brothers acted as the book-running manager for the offering. JPMorgan and Wachovia Securities acted as co-lead managers, and William Blair & Company and SG Cowen & Co. acted as co-managers. A registration statement relating to this offering was filed with and declared effective by the Securities and Exchange Commission. The offering is being made solely by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, and there shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. A copy of the final prospectus related to this offering may be obtained from Lehman Brothers Inc., Prospectus Department, 745 Seventh Avenue , New York , NY 10019 , phone number (212) 526-7000. About DealerTrack DealerTrack is a leading provider of on-demand software and data solutions for the automotive retail industry in the United States . DealerTrack utilizes the Internet to link automotive dealers with banks, finance companies, credit unions and other financing sources, and other service and information providers, such as the major credit reporting agencies. DealerTrack has established a network of active relationships with over 21,000 automotive dealers, including over 80% of all franchised dealers; over 175 financing sources, including the 20 largest independent auto financing sources in the United States and eight captive financing sources; and a number of other service and information providers to the automotive retail industry. DealerTrack's credit application processing product enables dealers to automate and accelerate customer financing by increasing the speed of communications between these dealers and their financing sources. DealerTrack's integrated subscription-based software products and services enable automotive dealers to: receive valuable consumer leads; compare financing and leasing programs; sell insurance and other aftermarket products; document compliance with certain laws; and execute financing contracts electronically. SOURCE DealerTrack Holdings, Inc. ### Press Release ########################### MICROFINANCIAL INCORPORATED - Company Announces Special One-Time Cash Dividend of $0.25 per Share; Declares Fourth Quarter 2005 Cash Dividend of $0.05 per Share WOBURN, Mass.------MicroFinancial Incorporated (NYSE:MFI) announced today that the Board of Directors of MicroFinancial, Incorporated, in a meeting held on December 8, 2005, has approved and declared a one-time cash dividend of $0.25 per common share, payable on February 15, 2006 to holders of record of MFI common stock at the close of business on January 31, 2006. In addition to the one-time cash dividend, the Board of Directors also approved its fifth consecutive cash dividend of $0.05 per common share, payable on January 16, 2006 to holders of record at the close of business on December 30, 2005. This dividend represents the same amount per common share as the last dividend paid by the Company in November of 2005. Richard Latour, President and Chief Executive Officer stated, "We are pleased that our solid balance sheet enabled the Board to approve these dividend payments. The Company is committed to growing its business over time in an ongoing effort to generate shareholder value." Future dividend payments will be subject to an ongoing review and approval by the Board of Directors on a quarterly basis. About MicroFinancial MicroFinancial Inc. (NYSE:MFI), headquartered in Woburn , MA , is a financial intermediary specializing in leasing and financing for products in the $400 to $15,000 range. The company has been in operation since 1986. MicroFinancial Incorporated Richard F. Latour, 781-994-4800 President and CEO Previous stories are available at: http://www.leasingnews.org/Conscious-Top%20Stories/micro_leasecomm.htm ### Press Release ########################### CalFirst Bancorp Announces Second Quarter Dividend IRVINE , Calif. ------The Board of Directors of California First National Bancorp (NASDAQ:CFNB) today declared a quarterly cash dividend in the amount of 10 cents ($.10) per share. The dividend will be payable on January 6, 2006 to all stockholders of record at the close of business on December 23, 2005. California First National Bancorp is a diversified financial services company with two primary businesses - leasing of high technology capital assets to businesses and organizations nationwide, and banking through an FDIC-insured national bank. California First National Bancorp S. Leslie Jewett, ### Press Release ########################### Travelers Appoints Director of Contracts & Funding Burnaby , BC -- Roberto Genovesi comes to Travelers after almost a decade with HSBC and Household Finance, most recently as a national level manager for the Montreal based consumer finance joint venture of HSBC/Household Finance's Montreal consumer business unit specializing in automobile finance. In his new role with Travelers Acceptance Corporation, Mr. Genovesi is based at its head office in Burnaby, British Columbia, where he is responsible for laying the groundwork for launch of Travelers Consumer Finance into the Quebec market, acting as Project Manager for the company's technology-based origination platforms, as well as managing its Contracts & Funding initiatives and team. "The addition of Roberto Genovesi to our Consumer Finance business provides Travelers with the expertise and knowledge to maximize our business on a national level", said Karl Sigerist Jr., Senior Vice President and COO for Travelers Acceptance Corporation. "I am thrilled with this opportunity to support Travelers as it expands its consumer finance initiatives across Canada . The role of Director of Operations for Contracts and Funding brings together my industry experience and education to develop best practices to take Travelers to its next level in its exciting growth and capture of industry market share," said Genovesi. Mr. Genovesi is fluent in three languages, is a graduate of the John Molson School of Business (MIS) at Concordia University , Montreal , and has a Civil Engineering (Technology) degree from Dawson College , Westmount . Travelers Financial Group is a leader in the provision of financial solutions and services to organizations, dealers, consumers, vendors and financial intermediaries in Canada . Travelers focuses on providing financial choice and the generation of value through the application of experience, service and innovation. Travelers Acceptance Corporation, a unit of Travelers Financial Group, provides solutions and services specifically tailored to vendors of consumer products and services - including education, automotive aftermarket and repair, timeshare, renovation and real estate acquisition loans, elective dental and cosmetic surgery procedures, memberships and power products. For more information about Travelers Financial Group visit www.travelersfinancial.com Press Contact: Cindy White cwhite@travelersfinancial.com Travelers Consumer Finance 1.877.293.0202 http://www.travelersfinancial.com ### Press Release ###########################
News Briefs---- $50-a-barrel oil seen as here to stay Fed watchers wait for signal on rate moves Case Calls For Time Warner-AOL Split Businesses' tech outlays may rise 11% Forecast would beat 2000's level 15 years of the World Wide Web Poll: Broad Optimism in Iraq , But Also Deep Divisions among Groups On the Eve of the Elections, Most Iraqis Want Iraq to Stay Unified Chrysler will invest $1 billion at Fenton Army stays on track for recruiting in November Experts say big SUVs may be in again ---------------------------------------------------------------
You May Have Missed Wipeout Hits the Surf Industry! http://www.hbonline.com/surfnews.htm ---------------------------------------------------------------
Sports Briefs---- T.O. Throws Star-Studded Birthday Bash http://sfgate.com/cgi-bin/article.cgi?f=/n/a/2005/12/12/sports/s201149S80.DTL N.F.L. Roundup http://www.nytimes.com/2005/12/13/sports/football/13nfl.html?pagewanted=all Troy Aikman, the former Dallas Cowboys quarterback, wants the N.F.L. to change its system of ranking teams' offenses and defenses by yardage alone. http://www.nytimes.com/2005/12/13/sports/football/13sandomir.html Belichick says Brady 'fine' after injury ----------------------------------------------------------------
California News Briefs--- Schwarzenegger refuses to spare life of gang founder http://www.signonsandiego.com/news/state/20051212-1931-ca-williamsexecution.html ----------------------------------------------------------------
“Gimme that Wine” Katrina Destroys Once Great Wine Cellar Wine owners keep their collections safe and cool in 'perfect' Presidio bunkers http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/12/09/WBGE0G22EF1.DTL Larsson wins Sommelier Challenge 2005 http://www.wineint.com/story.asp?sectioncode=1&storyCode=2058 Cannery Row II, Starring the Sardines http://www.nytimes.com/2005/12/07/dining/07sard.html?pagewanted=all If you want to know if you got a value for your wine, or what the wine price is today, go to www.winezap.com Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1998 Viader ----------------------------------------------------------------
Today's Top Event in History 1774- Contrary to popular belief, the first battle of the Revolutionary War was not the Battle of Lexington on April 17.1775, but happened on this date in 1774 when Major John Sullivan of the Granite State Volunteers, later a major general in the Continental Army, captured by the British, helped Washington against General Howe led 400 patriots that attacked Fort William and Mary at New Castle, New Hampshire, in Portsmouth Harbor. They bound the commander of the fort and frightened the soldiers away, capturing 100 casks of power and small arms. The news of this victory spread over New England the next few months, leading up to the Battle of Lexington. ----------------------------------------------------------------
This Day in American History 1621- the first shipment of furs were shipped to England on the S.S. Fortune under the charge of Robert Cushman, one of the Plymouth colonists. The cargo, valued at $2,450, consisted of furs, sassafras, clapboards, and wainscot. The boat was captured by the French and the cargo seized. Things were not merry in the old colony. http://images.nfl.com/history/images/1213.jpg ------------------------------------------------------------- American Football Poem
Spinning Records With Spinoza Spinning records with Spinoza Lawrence P. Murren, Jr. |
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