“Since 1997 I have been with Affiliated Corporate Services in Lewisville, TX. for the last year have V.P. of Vendor Sales at Forum Financial Services Inc. in Richardson, TX. Just love the leasing life.”

Frank L. Frontario

frank@forumleasing.com

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Classified---Jobs Wanted “Aggressive, smart, qualified”

Accounting: New York, NY.

Three(3)years experience in lease accounting. Managing three Partnerships' Funds, preparing external reports for SEC.,10Q &10K. Consolidation of subsidiaries financial position w/parent company. email:hope2live@aol.com

Asset Management: Patchogue, NY

12+ yr. Experience in Auto/Equipment Leasing. Managed Liquidation of Repo & E.O.L. Portfolios. Managed Litigation Portfolio as well. Exp. in Bankruptcy. Looking for suitable position in Tri-State area. Email:THood8663@Yahoo.com

Asset Management: Redmond, WA 10+ years experience with Small/Middle Market portfolio's. Managed all aspects of Asset Management including residual setting, inspections, repossessions, remarketing& eol negotiations. email:challenger.rt@verizon.net

Asset Management: Jacksonville, FL. 15+ yrs of diversified exp.in Comm.Equip.Fin. Equip Generalist, ASA "Cradle-to-Grave," Sr. Management, creative negotiating, presentation and analytical skills. Open to domestic/global travel/relocation. email:AssetMgrASA@aol.com

Collector: Joplin, Mo. Will do car repossion,willing to go about anywhere.have three years exp. thanks.email: derekrgreen@yahoo.com

Communications: Oceanside, CA. Placed all- wiring-cabling &comp system in Polaris building. Exp.in cabling, webwork, photograph/ad work, server work for 'Racksavor" & top exp.in carpentry-plumbing, finishing work. email:jzapf@artisticimages.com

Here is the entire list of Jobs Wanted---These ads are free to those

looking for employment.

http://65.209.205.32/LeasingNews/JobPostings.htm

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Courts Still Trying to Get Guardian's Tanner Back to Canada

Active in business with Commercial Money Center of Las Vegas, Nevada, as a principal of Guardian Financial, Blaine Tanner quest for reinstatement of a pardon reportedly continues. It involves a pardon issued to him by the Canadian government for fraud, assault, including breaking and entry. . The Canadian government revoked that pardon in August 2000 because Mr. Tanner failed to disclose on his pardon application a 1993 conviction for tax evasion, according to court records.

Reportedly a ruling has not been issued to date.

"Although I was aware that I had been convicted on Sept. 24, 1993, and sentenced on March 1, 1994, under the Income Tax Act, I did not understand that to be a criminal conviction for which a pardon applied, “ he stated in an affidavit as part of his appear."

He is a resident of the United States and married to a U.S. citizen, well known

defense attorney Ellen Simon. The outcome of the appeal in Canada could determine whether Mr. Tanner is allowed to remain in this country.

Guardian Capital, in which he is a major principal, is allegedly in default on about $39.5 million in loans issued by First Merit Bank, Sky Bank, Second National Bank of Warren, Provident Bank, Bank One and Huntington National Bank, according to 10 judgments filed in 2002.

Guardian Financial Group LLC and principal shareholder Blaine Tanner are reportedly in court battles involving both lenders, two insurance companies and another company that invests in those leases. Several of these leases are reportedly also involved with Commercial Money Center and its legal disputes

in bankruptcy and other courts, including investigations by the FBI.

CMC leases went to companies or individuals with poor credit who were willing to pay high interest rates. According to the news report, the company pooled the leases and sold the income stream to investors, typically banks and other financial institutions, then bought insurance policies or surety bonds to pay investors if lessees didn't make payments.

In the final months, it is reported CMC was funding leases that were expected

to fail. Former employees have been cooperating with attorneys for the insurance

companies, we are told.

Investors and insurance companies now dispute responsibility for the unpaid leases in the CMC matter, who’s parent corporations have all filed Chapter 7. The insurers question the legitimacy of the leases, saying they were set up with shell companies or individuals whose signatures were forged. The insurance and bonding companies are just trying to get out of paying claims on the defaulted leases. Netbank has a $80 million claim and several banks have over another

$80 billion claim, and it is expected it could go to $250 million. Provisions

of the bond refer to fraud and technical deception are also in the counter claims.

It is reported the FBI is investigating the matter, especially regarding claims

for leases where equipment never existed and/or lessees never existed. Several

officers of the various corporations in bankruptcy are back in the equipment leasing business. It is not an uncommon practice in the leasing industry.

Leasing associations also accept them as members. They state to Leasing

News it would be a “restraint of trade” not to accept them.

In the Guardian Financial matter, Court documents filed in Cleveland, Ohio note that Guardian has acknowledged it defaulted on the $10.5 million balance of a loan from Sky Bank of Toledo. It is also reported that its subsidiary, Guardian Capital V LLC, also defaulted on the $3.6 million balance of a loan from Second National Bank of Warren. Reportedly a second subsidiary, Guardian Capital XVIII LLC, defaulted on a Sky Bank loan with a $4.8 million balance.

Illinois Union Insurance Co. of Philadelphia and RLI Insurance Corp. of Peoria, Ill., insured Guardian’s investments in the equipment leases, it is alleged in the lawsuit filed by Sky Bank and Second National.

None of the parties were available for a comment.

It is noted that Blaine Turner, was convicted on fraud charges in his native Canada in 1975 and has another conviction for evading more than $360,000 in income tax in 1994. A Canadian court also ordered him in the year 2000 to pay $740,000 in back child support owed to a former wife; however, he claims he is no longer

a resident of Canada..

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$40 MILLION IN LEASE RECEIVABLES SOLD BY LEASE CORPORATION OF AMERICA

TROY, MI -- Lease Corporation of America (LCA) announced it has successfully sold $40 million of lease receivables in 2002. LCA will continue to service the leases. Lease receivables under management total approximately $62 million as of November 30, 2002.

“We are pleased to announce that despite a slower economy, LCA’s fiscal year improved over last year in profitability, sales and portfolio performance,” said President and CEO John Kemp. “Strengthening relationships was a priority to LCA in 2002 and facilitated much of the success we realized this past year. I feel that we have hired key people in management and sales, resulting in a compounding positive effect on the business. Our flexible programs combined with first class service have differentiated LCA in the marketplace. The goal this year is to continue to enhance current relationships, enter new markets, establish new relationships, and innovate with new programs to differentiate our manufacturers and vendors. In addition, LCA will continue building its relationships with investors and funding sources, enabling LCA to have access to additional capital when the company requires it. “

Lease Corporation of America is a privately-owned, multi-million dollar small ticket leasing company providing finance solutions to equipment dealers, distributors and manufacturers, and quality assets to financial institutions and other investors throughout the United States. LCA has distinguished itself as a financing leader in the wireless radio, security and vehicle tracking device industries.

CONTACT:

Nikki McCord

LEASE CORPORATION OF AMERICA

Phone Number: (800) 800-8098 ext. 5106

E-mail: nmccord@leasecorp.com

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Voss to Specialize in "Waste” at TCF Leasing

TCF Leasing, Inc. announced that Kevin Voss has joined TCF Express Leasing as the Sales Representative, Waste Industry. TCF Express Leasing provides lease financing to small and mid-size companies through programs with specialty markets, vendors, manufacturers, distributors and franchise organizations that are acquiring business equipment and technology.

Voss will be based in Upland, CA and will primarily serve the western states. He has been active in the equipment finance business for 15 years. He will provide loan and lease financing primarily in the waste industry.

TCF Leasing, Inc., is a wholly owned leasing and equipment finance subsidiary of TCF Financial Corporation (TCF) (NYSE:TCB). TCF is an $12.2 billion national bank financial holding company with banking offices in Minnesota, Illinois, Michigan, Wisconsin, Colorado and Indiana. Other TCF affiliates provide mortgage banking, insurance and investment sales.

CONTACT:

Nicole West

TCF Express Leasing

Phone Number: 952-656-7415

Fax Number: 952-656-3273

E-mail: nwest@tcfleasing.com

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Leasing Education Series Moves to New Digital Format –Curriculum/Calendar

Here is the Curriculum:

http://two.leasingnews.org/temporary/XeCCore6daysCalendarFeb1303/CurriculumUSMarketFeb132003.pdf

Here is the Calendar:

http://two.leasingnews.org/temporary/XeCCore6daysCalendarFeb1303/XeCCore6daysCalendarFeb1303.pdf

( Irwin, PA ) After a two-year study of eLearning formats, XeC goes digital with its Leasing Education Boot Camp Series for IT Professionals. Learning units can be digitally archived as instructor-led classroom video, digital voice-over-PowerPointTM course slides, or in an SCI (Speaker-Content Integrated) format.

The XeC leasing curriculum has been broken down into smaller learning units to fit the digital medium enabling companies to cost effectively build their own customized curriculum or supplement their existing in-house education programs.

The new Speaker-Content Integration technique combines the instructor video and lecture materials into a single streaming format. For rapid updating, XeC instructors can record current issues and specialty topics at a fraction of the cost of traditional videotape sessions. Production costs and delivery times are drastically reduced.

"For the last 4 years, the class I teach in Carnegie Mellon's eCommerce Masters program has been digitally captured and posted on the web with my course materials, " stated Michael Pochan, co-founder of XeC, Adjunct Assistant Professor, and former CEO of LeaseTek. " I have working adults as students who 'attend' the class remotely as their schedule allows. It is this pioneering experience that led XeC to a 'blended learning' approach."

The XeC digital formats are ideally suited for delivering fresh content to a global workforce, especially when used in a 'blended learning' approach with traditional classroom methods.

The Lease Education Boot Camp Series is designed and delivered by XeC's senior consultants, who have implemented more than 450 lease and asset finance systems in 22 countries over the past 15 years. Companies interested in learning more about the program can contact John Voytko at 724-861-9953 or at info@xec1.com.

XeC is an international leasing software support group specializing in lease/loan asset finance education, multi-national system rollouts, system analysis, software specification, testing, and implementations.

Contact: John Voytko

(724) 861-9953 jvoytko@XeC1.com

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United Association of Equipment Leasing Spring Conference

2003 UAEL Spring Conference

Rancho Las Palmas Mariott

Rancho Mirage, California

May 1-3, 2003

Ron Lear, Conference Chairman

PFF Bank and Trust

$695 Before April 20

$895 Thereafter

Non-Member:

$1,195/$1,395

If you are a golfer, this

is one conference you do

not want to miss!

[Headlines]

Cartoon---- oh-well-that’s life.jpg

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Please send to a colleague as we are trying to build our readership

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Sunrise International Leasing Corporation Reports Fourth-Quarter Results And Record 2002 Net Income

GOLDEN VALLEY, Minn., -- Sunrise International Leasing Corporation (SILC), a wholly owned subsidiary of privately held King Capital Corp., today announced unaudited financial results for the fourth quarter and fiscal year ended December 31, 2002.

For the fourth quarter, SILC reported net income of $4.1 million, up 41 percent from $2.9 million recorded in the year-ago period. Due to the technology recession, revenue totaled $21.1 million, compared to $40.3 million for the prior-year period.

For the full year 2002, SILC recorded record net income of $14.7 million, up 17 percent from $12.6 million for the prior year. As expected, revenue was down 38 percent to $117.4 million, from $188.5 million realized in 2001.

"While revenue was considerably lower in 2002, we experienced a substantial increase in revenue from lease renewals and other remarketing activities which had a positive impact on gross margins, and expenses were substantially lower as well," said Peter King, Sunrise CEO. "In addition, the company saw a significant reduction in defaults during the year on its seasoned portfolio of more than $150 million in gross earning equipment. We were able to capitalize on the reduced costs and improved margins on end-of-lease equipment sales to achieve record levels of net income."

SILC is debt free after paying off $87.5 million in debt during the year. The company continues to generate significant free cash flow, and at the present time has over $47 million in cash and investments. It intends to use both its cash and substantial borrowing capacity to purchase lease portfolios or other leasing companies that fit the company's profile.

Outlook

"We expect 2003 to be another challenging year in the technology leasing industry," said King. "SILC is well positioned, with no debt and substantial levels of cash and reserves, to withstand the current economic recession and to succeed in a recovery."

With the continued reduction in demand for leased equipment, SILC is focused on allocating capital to available equipment portfolios or companies that meet the company's business profiles. SILC also is currently negotiating with several vendors to develop new or to enhance existing programs utilizing SILC's sophisticated systems and servicing capabilities.

About Sunrise International Leasing Corporation

SILC's business consists primarily of developing and implementing customized lease and rental programs for vendors of high technology and other equipment. The lease options offered by the company generally focus on short-term, fair-market-value leases, but it also provides a full range of lease and financing options. SILC also is a competitive reseller of high quality used equipment.

About King Capital Corp.

King Capital Corp., established in 1975 and based in Golden Valley, Minn., offers a wide range of leasing options to manufacturers, distributors and resellers through its primary subsidiary, SILC as well as high-availability software through H.A. Technical Solutions, LLC.

[Headlines]

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Willis Lease Finance Reports Profits in Fourth Quarter and Full Year 2002

SAUSALITO, Calif.----Willis Lease Finance Corporation (Nasdaq:WLFC), a leading lessor of commercial jet engines, today reported a profitable fourth quarter and full year 2002. Fourth quarter 2002 net income totaled $2.0 million, or $0.23 per diluted share, compared to $461,000, or $0.05 per diluted share, in the same period of 2001. For the full year ended December 31, 2002, net income totaled $3.6 million, or $0.41 per diluted share, compared to $6.9 million, or $0.78 per diluted share, in 2001. Income from continuing operations before income taxes was $1.9 million in the fourth quarter of 2002 and $4.3 million for the full year, compared to $176,000 in the fourth quarter of 2001 and $12.0 million for the full year 2001.

The following large items had a significant impact on the fourth quarter 2002 net income: a $4.1 million gain on the prepayment of a credit facility, a $2.9 million write-down on certain older equipment, and a $491,000 tax credit resulting principally from a change in deferred state tax liability estimates.

Current Market

"Our results in 2002 demonstrate our continued resilience in the face of very challenging industry conditions," said Charles F. Willis, President and CEO. "Considering the lingering effects of the worldwide economic recession and the events surrounding 9/11, the fallout from the bankruptcies of US Air and United Air Lines, the threat of war in Iraq and other geopolitical uncertainties, achieving profitability this year, albeit lower than a year ago, was a major accomplishment. I am proud of how the company has successfully navigated through these very difficult times."

"Our staff has demonstrated an extraordinary dedication to meeting the changing needs of our customers. During 2002, many of our airline customers had difficulty forecasting their spare engine requirements. Others chose to defer major maintenance expenditures by leasing engines. As a consequence, in order to retain maximum flexibility these customers favored shorter-term commitments, which increased engine turnover and activity in every department of our company. The ability of our people to respond effectively to the ever-changing needs of our customers is one of our most powerful competitive edges," Willis added. "This ability paid huge dividends over the past year as we were able to increase the portfolio utilization rate from 80.0% at June 30, 2002 to 86.1% at the end of 2002, which is up slightly from 85.6% at September 30, 2002 and 84.6% at the end of 2001."

"Airlines, particularly the large domestic carriers, continue to suffer to varying degrees from severe industry conditions," said Donald A. Nunemaker, Chief Operating Officer. "Fortunately, last year only 16% of our revenue came from U.S. carriers, and we have no engines on lease to either US Air or United Air Lines. Nearly half of our revenue comes from Europe, which has been a more stable market and whose airlines have generally avoided the major issues troubling domestic carriers. Today, the outlook for 2003 points to Asia as the most robust aviation market, and we are well positioned to take advantage of opportunities there. Nonetheless, we do not expect to see significant overall improvement in our markets during 2003, and we will need to continue to carefully manage expenses, optimize our portfolio mix, keep our engines on-lease and work hard to meet customers' needs."

Willis Lease Finance Corporation

Donald A. Nunemaker, 415/331-5281

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News Briefs---

Government deficit hit $97.6 billion in first four months of 2003 financial year

http://www.boston.com/dailynews/055/economy/Government_deficit_hit_97_6_bi:.shtml

Picture grim for job rebound

---Silicon Valley California Forecast: Recovery in 2011

http://www.bayarea.com/mld/mercurynews/business/5244728.htm

Economy, War Puts Hiring on Hold

http://www.washingtonpost.com/wp-dyn/articles/A56117-2003Feb24.html

Manpower Reports Nationwide Job Hiring by Region

http://www.washingtonpost.com/wp-dyn/articles/A56116-2003Feb24.html

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Sports Brief

Dallas Cowboys Looking for Quarterback?

(Will Other Teams Fight of Jake the Snake)

Charlie Batch: Might prefer to stay with Pittsburgh

Jeff Blake: Throws a great deep ball

Chris Chandler: Injury-filled career takes luster off numbers

Jake Delhomme: 1999 win over Cowboys is career highlight

Koy Detmer: Played well as backup in 2002

Doug Johnson: Has flashed potential as Falcons' backup

Rob Johnson: Has flopped in starting roles

Ray Lucas: Horrible last season, but Parcells likes him

Rodney Peete: Former Cowboy might be good fit again

Jake Plummer: Inconsistent performances are maddening

Kordell Stewart: 0-2 in AFC Championship games

Vinny Testaverde: Had his best season under Parcells in 1998

Danny Wuerffel: Intelligent player, but weak arm limits him

McCaffrey top target because of bottom line

http://www.denverpost.com/Stories/0,1413,36%257E86%257E1200377,00.html

POSSIBLE CUTS OR RESTRUCTURES

Ed McCaffrey, WR $3.5 million Base salary

$4.14 million Salary cap fig. | ??? Savings

Terrell Davis, RB $4.7 million Base salary

$7.8 million Salary cap fig. | ??? Savings

----------

Salary Cap Chart NFL Teams

http://www.theredzone.org/caproom.asp

RedZone Mock NFL Draft

http://www.theredzone.org/2003/draft/mock_draft.asp

Off Season NFL Team Needs

http://www.theredzone.org/2003Needs.asp

Free Agents and Time Line

http://www.theredzone.org/2003/freeagents/index.asp

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Chicken Little---The Sky is Falling

by Kit Menkin

Chicken Little was in the woods one day when an acorn fell on his head. It scared himr so much she trembled all over. He shook so hard, half his feathers fell out.

His Foster Farm News said the economy was in really bad shape.

Chicken Little: "Help! Help! The sky is falling! I have to tell the New York Times."

So she ran in great fright to tell the New York Times. Along the way she met Henny Penny.

Henny Penny: "Where are you going, Chicken Little?"

Chicken Little: "Oh, help! The sky is falling!"

Henny Penny: "How do you know?"

Chicken Little: "I saw it with my own eyes, and heard it with my own ears, and part of it fell on my head! And I also read it in the Washington Post. "

Henny Penny: "This is terrible, just terrible! We'd better hurry up."

So they both ran away as fast as they could. Soon they met Ducky Lucky.

Ducky Lucky: "Where are you going, Chicken Little and Henny Penny?"

Chicken Little & Henny Penny: "The sky is falling! The sky is falling! We're going to tell the New York Times."

Ducky Lucky: "How do you know?"

Chicken Little: "I saw it with my own eyes, and heard it with my own ears, and part of it fell on my head. And everyone is telling me we’re in a recession. Every

article I read is depressing news. It is so terrible. I feel I should just shoot myself. "

Ducky Lucky: "Oh dear, oh dear! We'd better run!"

Narrator: So they all ran down the road as fast as they could. Soon they met Goosey Loosey walking down the roadside.

Goosey Loosey "Hello there. Where are you all going in such a hurry?"

Chicken Little: "We're running for our lives!"

Henny Penny: "The sky is falling!"

Ducky Lucky: "And we're running to tell the New York

Times??? Are you kidding. They report the same thing as the Washington

Post and the Los Angeles Times and the San Francisco Chronicle and

the Boston Globe and the Chicago Tribune and even the Iowa Democrat!"

Goosey Loosey: " There are Democrats in Iowa!!! But how do you know the sky is falling?"

Chicken Little: "I saw it with my own eyes, and heard it with my own ears, and part of it fell on my head! At least, the Foster Farms daily newspaper told me that."

Goosey Loosey: "Goodness! Then I'd better run with you."

Narrator: And they all ran in great fright across a field. Before long they met Turkey Lurkey strutting back and forth..

Turkey Lurkey: "Hello there, Chicken Little, Henny Penny, Ducky Lucky, and Goosey Loosey. Where are you all going in such a hurry?"

Chicken Little: "Help! Help!"

Henny Penny: "We're running for our lives!"

Ducky Lucky: "The sky is falling!"

Goosey Loosey: "And we're running to tell the New York Times!"

Turkey Lurkey: "How do you know the sky is falling?"

Chicken Little: "I saw it with my own eyes, and heard it with my own ears, and part of it fell on my head. And I read about it every day, hear it on the radio, and

television, too. They say we are really having a bad time.”

Turkey Lurkey: "Oh dear! I always suspected the sky would fall someday. I'd better run with you."

Narrator: So they ran with all their might, until they met Foxy Loxy.

Foxy Loxy: "Well, well. Where are you rushing on such a fine day?"

Chicken Little, Henny Penny, Ducky Lucky, Goosey Loosey, Turkey Lurkey (together) "Help! Help!" It's not a fine day at all. The sky is falling, and we're running to tell the New York Times!"

Foxy Loxy: "How do you know the sky is falling?"

Chicken Little: "I saw it with my own eyes, and heard it with my own ears, and part of it fell on my head! Everything I read, everything I hear, and every business

expert tells me we are having a terrible time. It is just awful and everyone tells

me so."

Foxy Loxy: "I see. Well then, follow me, and I'll show you the way to the New York Times."

So Foxy Loxy led Chicken Little, Henny Penny, Ducky Lucky, Goosey Loosey, and Turkey Lurkey across a field and through the woods. He led them straight to his den, and they never saw the king to tell him that the sky is falling.

The morale of this story: You can’t believe everything you read, or hear, or see on TV, unless you want to be food for the fox. Or being negative, will bring you

down the wrong road.

( American Day in History Follows the mandatory statements )

[Headlines]

www.leasingnews.org
Leasing News, Inc.
346 Mathew Street,
Santa Clara,
California 95050
Voice: 408-727-6464 Fax: 800-727-2026
kitmenkin@leasingnews.org