Classified Ads---Senior Management

(These ads are “free” to those seeking employment
or looking to improve their position)

Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Active in Leasing---Bank Beat
Bank of Ozarks Now has 12 offices in Georgia

Bank of Ozarks (NASDAQ-OZRK), Little Rock, Arkansas is very active in the leasing industry. Scott Hastings has served as president of the leasing division since 2003 and is part of the executives lead by George Gleason who has served as chairman, CEO and/or president since 1979.

The two branches of Oglethorpe Bank, Brunswick, Georgia were closed Friday with Bank of the Ozarks to assume all of the deposits. It brings the Bank of Ozarks to 12 offices in Georgia. According to the FDIC, as of September 30, 2010, the bank had 95 offices with one office in Alabama, 67 in Arkansas, 3 in Florida, 11 in Georgia, one in Louisiana, two in North Carolina, two in South Carolina, 8 in Texas.

Bank Director magazine recognized Bank of the Ozarks as the second best bank in the US (1)
http://www.bankdirector.com/issues/articles.pl?article_id=12081

Oglethorpe Bank was formed August 26, 2003. The bank had 37 full time employees with an office in Brunswick and Saint Simons Island. It is the 52nd bank to fail in Georgia since the middle of 2008. Again real estate loans, including construction and land development loans were the culprits.

City of Brunswick

Brunswick, the county seat of Glynn County, was incorporated December 3, 1812. Brunswick was founded in 1771 and received its name from the King of England, George III of the House of Brunswick. Many of the street and square names reflect English heritage - Gloucester, Halifax, London, Newcastle and Prince.

In addition, the over development and drop in tourism at Saint Simons Island was a factor, too.

Homes for sale Saint Simons Island:
http://www.trulia.com/GA/Saint_Simons_Island/

As of September 30, 2010, Oglethorpe Bank had approximately $230.6 million in total assets and $212.7 million in total deposits. The bank equity had dropped from $19.7 million year-end 2008 to $17.5 million year-end 2009 and $2.3 million September 30, 2010; $3.8 million loss 2008, $14.2 million loss 2009 with $4.4 million charge off in 1-4 family residential properties, $1.2 million construction and land development, $902,000 in nonfarm nonresidential properties, $919,000 commercial and industrial loans, $705,000 to individuals.

September 30, 2010 the bank had lost $7.1 million after charge offs of $5.3 million in 1-4 family residential property, $3.9 million construction and land development, $982,000 nonfarm nonresidential property, $1.6 million in commercial and industrial loans and $415,000 in loans to individuals.

Non-current loans had also leaped to $28.3 million from $6.1 million the previous September. Tier 1 risk-based capital ratio 1.40%.

The FDIC and Bank of the Ozarks entered into a loss-share transaction on $173.9 million of Oglethorpe Bank's assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.4 million.

Tracking Bank Failures Map:
http://graphicsweb.wsj.com/documents/Failed-US-Banks.html

List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html

Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

Leasing 102 by Mr. Terry Winders, CLP

Reasons to Lease – Cash flow

The proposed new accounting rules may eliminate irregular rents for accounting purposes, however, “Cash Flow is still King” and the more questions you ask about the revenue flow of your customer may create opportunities to create structured rents.

Leasing creates a new line of credit than a bank or accounts receivable line of credit. It also doesn’t have the restrictions and allows the lessee more “cash freedom.” It also may be less expensive when compared to a fixed price lease rather than an adjustable line, especially with a residual lease.

While it is true, the small ticket market place is more “convenience” and “Cash Flow is King,” the comparison advantage exists.

It is especially apparent when applied to the middle market and it is why the larger corporation lease instead of purchase or use their bank lines of credit.

One cost no one seems to want to bring up is the cost for a bank line of credit. The purpose for a line of credit is that all companies have periods of low cash and need to use the line of credit to handle payments that were structured on a level basis. So if a loan is arranged with an interest rate of 4%, which does not include points up front and most often is higher, the company will use the line when it finds itself in a cash shortage position.

If the equipment warrants a residual then the payments would be lower than a full payout loan and if the lessee understands the time value of money a lease will always have the upper hand.

In addition to the lower payments from a lease with a 10% put or 10% purchase option the earnings are greater for the lessor while being lower for the lessee. Example: a loan at 10 % for $100,000 over 60 months is $2,124.70 for a total of $127,482.27. A lease with a 10% put over the same terms is a payment of $1,995.57 saving the lessee $129.13 for 60 months for a 60 month savings of $7,747.96. Now you may say that the $7,747.96 does not equal the put at $10,000 which is true but if you put a present value to the monthly savings equal to the lessee’s current return on investment (ROI) say 15% pretax the actual value of the savings is $11,437.63.

The lessor with payments of $1,995.57 for a total of $119,734.20 plus the put of $10,000 gets a return of $29,734.20 while the bank only gets $27,482.27. Because of this difference the actual risk to the lessor for the $10,000 put is reduced by the $2,225.93 extra income so the actual risk is only 7.75%. The larger the put, or the residual, the greater the savings.

A lease that is arranged with irregular payments that match the firm’s revenue flow can prevent the need to use a line of credit and therefore would be cheaper that a level payment bank loan with a comparable interest rate. This is true regardless of the type of lease.

We must also remember that a large percentage of American business prefer to use cash accounting so they will expense irregular rents as they are paid. So always request the type of accounting used by small business and request information about revenue flow so you can create a lease that helps the lessee arrange their cash requirement.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at leaseconsulting@msn.com or 502-649-0448

He invites your questions and queries.

Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

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

[headlines]
--------------------------------------------------------------

Evergreen and the ELFA MFLI-25
by Christopher Menkin

David A. Merrill, President, Fifth Third Leasing Company
Equipment Leasing and Finance Association Chair

This is a follow-up to the story on the Equipment Leasing and Finance Association (ELFA) position on the Louisiana legislation regarding Evergreen Leasing clauses. While Ralph Petta, COO, and Dennis Brown, CAE, Vice-President, State Government Relations, have told Leasing News they are for "transparency," the issue is the notification by the lessor to the lessee about the end of the initial term of the lease (a). It has been common in the small ticket market specifically for those finally holding the lease to not notify the lessee and continue the monthly payments, even on $1.00 purchase options.

This practice of extending payments has been going on for years by smaller companies ((such as in the past Puget Sound Leasing as documented in the court records of the practice (b)) as well as Marlin Leasing ((documented in their SEC filings as well as many complaints.(c))

Leasing News printed the ELFA MFI-25 participants and stated they "appear" to support this non-notification. Several have contacted Leasing News, and others are invited to state their policy and position.

1- ADP Credit Corporation
(Anthony Pacchiano of Credit Corp. is on Board of Directors)
2- Bancorp South Equipment Finance
3- Bank of America
(Larry A. Similie of Leasing is on Board of Directors)
4- Bank of the West
(Notifies Lessee of pending purchase option)
5- BB&T
(Thomas M. Jaschik--is Treasurer)
6- Canon Financial Services
7- Caterpillar Financial Services Corporation
(Kent M Adams is on the Board of Directors)
8- CIT
9- De Lage Landen Financial Services
(William F. Stephenson is on the board of Directors)
10- Dell Financial Service
11- EverBank Commercial Finance
12- Fifth Third Bank
(Leasing Div. David A. Merrill is Chair)
13- First American Equipment Finance
14- GreatAmerica
(States notifies lessee and if doesn't pay residual, goes month-to-month until paid.)
15- Hitachi Credit America
16- HP Financial Services
17- John Deere Financial
18- Key Equipment Finance
(Adam D. Warner is Second Vice-Chair)
19- M&I Equipment Finance
(Jud Snyder is on the Board of Directors)
20- Marlin Leasing Corporation
(SEC shows profit of company is from Evergreen clauses (c)
21- Merchants Capital
22- National City Commercial Corp.
23- RBS Asset Finance
24- Regions Equipment Finance
25- Siemens Financial Services
26- Stearns Bank
27- Susquehanna Commercial Finance, Inc
(Kenneth R. Collins, Jr., past Chairman)
28- US Bancorp
(Anthony Cracchiolo from Equipment Finance Division is on Board of Directors)
29- Verizon Capital Corp
30- Volvo Financial Services
31- Wells Fargo Equipment Finance

(a) Favors transparency, but not notification
http://www.leasingnews.org/archives/December%202007/12-17-07.htm#elfa

(b) Puget Sound Leasing
http://www.leasingnews.org/archives/March%202009/03-09-09.htm#puget

(c) Marlin Leasing
http://www.leasingnews.org/Conscious-Top%20Stories/Marlin_Leasing_2008.htm

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

================================

Leasing Industry Help Wanted

Sales Manager – Houston Office 5 years+ equip fin/leasing experience Player/Coach 3-4 Rep’s, Energy Experience+ Must have track record of overachievement Controller – So California Office AR, AP,Tax,Fin-Statement Prep/Internal Controls Treasury Mgmt/Lease Acct and IT knowledge all++ Please submit resume to mcurtis@firstncc.com FIRST NATIONAL CAPITAL CORPORATION Is the 5th Largest Privately Held Equipment Finance Company In the United States www.firstncc.com

Vehicle Lenders Group, LLC is looking for dynamic sales associate. Either work out of one of our offices in Calif. , Dayton, or Oyster Bay, NY or your own office. Draw w/benefits after three month probation period. Must have excellent references, honest, self motivated, able to generate $500,000 a month by the end of 12 months of employment. Curt Webster, CVLE 516-922-7447 ext 104 http://www.trucklendersusa.com/

Sales Account Executives: Jacksonville, FL/Philadelphia, PA. Small ticket Direct Lender with broad funding capabilities and exceptional vendor service. Join an experienced management team in a dynamic growth environment. E-mail resume to: garyshivers@navitaslease.com Navitas Lease Corp is a top leader in the equipment financing industry. We offer solutions to small-to-medium-sized businesses looking to acquire and finance equipment.

National Business Development Manager with minimum ten years experience and current book of business. Strategically located throughout US in various targeted industries. Click here for more info. Western Finance & Lease, a subsidiary of Western State Bank established in 1901, solicits originations throughout the US and provides funding solutions for a wide range of industries

Transportation Focused Company seeks Credit Manager. Knowledge of automated scoring as well as subjective credit underwriting a must. Compensation commensurate with experience. Located in the Inland Empire, please email wdalton@crlease.com

Please see our Job Wanted section for possible new employees.

[headlines]
--------------------------------------------------------------

Top Stories --January 10---January 14

Here are the top ten stories opened by readers:

(1) Bulletin Board Complaint--ACC Capital Corporation
http://leasingnews.org/archives/Jan2011/1_10.htm#bbc_acc

(2) Archives January 14, 2001
Top Ten Reasons for Staying in Equipment Leasing
http://leasingnews.org/archives/Jan2011/1_14.htm#archive

(3) New Company: LEAF Commercial Capital?
by Christopher Menkin
http://leasingnews.org/archives/Jan2011/1_10.htm#new

(5) Sales Makes It Happen---by Steve Chriest
Solid Reasons for Growing the Sales Organization In 2011
http://leasingnews.org/archives/Jan2011/1_12.htm#growing

(6) From the Desk of Michael J. Witt, Esq.
Royal Links “Hell or High Water” Clause Upheld
http://leasingnews.org/archives/Jan2011/1_12.htm#clause

(7) (Tie) Clarification: ZRG and ELFA MFLI-25 Employment Charts
http://leasingnews.org/archives/Jan2011/1_12.htm#clarification

(7) (Tie) Road Conditions Closing Some Leasing Companies
http://leasingnews.org/archives/Jan2011/1_14.htm#closing

(8) Bank Beat---Florida, Florida, Florida
http://leasingnews.org/archives/Jan2011/1_10.htm#bank_beat

(9) 21st Century Leasing added to “Broker/Lessor” “A” List
http://leasingnews.org/archives/Jan2011/1_12.htm#21st_century

(10) “Story Credit” List---Up-dated
http://leasingnews.org/archives/Jan2011/1_14.htm#story_credit

Saluting Leasing News Advisor Bruce Kropschot

The Leasing News Advisory Board does not participate in editorial decisions, meaning reviewing or choosing stories or subjects. Their role is to participate with policy and business advice as well as contribute in discussions on matters brought up by the publisher in a private internal blog.

Bruce Kropschot is one of the first asked to join the advisory board and he has been active since September 6, 2000.

Kropschot Financial Services
2352 Clearwater Run
The Villages, FL 32162
(352) 750-3588
bkropschot@kropschot.com
www.kropschot.com

Bruce Kropschot is President of Kropschot Financial Services, a firm he founded in 1986. The firm has been for many years the leading provider of merger and acquisition advisory services for equipment leasing companies, having initiated the sale of more than 160 businesses. In 2008, Kropschot Financial Services became part of The Alta Group, a leading worldwide consulting firm for the leasing industry. Mr. Kropschot is Senior Managing Director of Alta and serves as the firm’s M&A Advisory Practice Leader. He has been active in the equipment leasing industry since 1972 and has been a senior executive of three large leasing companies.

Mr. Kropschot has served on the Board of Directors of the Equipment Leasing and Finance Association, the Equipment Leasing and Finance Foundation, Eastern Association of Equipment Lessors and United Association of Equipment Leasing. He is also a founding director of the International Network of Merger & Acquisition Partners. Mr. Kropschot is a CPA and graduated with BBA and MBA degrees (with honors) in Accounting and Finance from the University of Michigan.

Leasing News has asked each one the same four questions to give readers more insight into their personality and experience in the industry.

1. What is the biggest issue you face in your business?

“As a merger and acquisition advisor to leasing companies, my most important issue usually is to be able to convince potential acquirers that the acquisition of my equipment leasing company client can provide an excellent return on investment.”

2. What advice would you give to a young person entering the leasing business today?

“Become a well-rounded leasing person by trying to get experience in sales, credit, collections, accounting and finance. Continue the learning process throughout your career by participating in leasing industry association conventions and conferences.”

3. To what do you attribute your success?

“Throughout my career, I believe that hard work, doing more than is expected and maintaining a high level of integrity have played important roles in my success. I try to live by the words of my high school class motto: "Give to the world the best you have, and the best will come back to you."

4. What is one big thing that you hope to do before you die?

“After I semi-retire, I would like to take an active management role in a charitable organization.”

Kit receives CLP Handbook for his birthday

Theresa Kabot, CLP, K2 Funding, Kabot Commercial Leasing LLC, a past president of the Certified Leasing Professional Foundation, former Leasing News Advisory Board member, and a long time personal friend, sent me the new Certified Lease Professionals Handbook for my January 1st birthday. I had not seen an edition since the original, which was also a gift, but from Bob Teichman, CLP, who was tutoring me to pass the test (I never could get the math part correct and Bob spent a lot of time in my office with two private lessons.)

I read chapters, browsed others since receiving the 4th edition, and plan to go back to it. This is not just for entry level people interested in leasing, but is a reference book, and even for persons in business a long time, a refresher course, a handbook.

If I may be so bold, and with respect, to say: "The CLP Professionals Handbook is the bible of the leasing industry."

Kit Menkin, editor

Site Inspection Services

( To apply to be listed, please fill in this form, you
may e-mail to: kitmenkin@leasingnews.org )
Site Inspection Form

(A) "Douglas Guardian has probably been doing site inspections longer than any other company in the market today. This is our 75th year in business. We even do inspections for some of the people on your editorial board. Please include Douglas Guardian in your survey. We do not subcontract our inspections to independent contractors like many of our competitors. We utilize a network of over 300 company trained and certified employees. We operate throughout the US and Canada performing pre-funding inspections, post-funding inspections, collection inspections and vendor verifications."

Bruce Lurie, President
blurie@douglasguardian.com

(B) SecureTrac, Inc. - Additional Services

-----------------------------------------------------------------

Associations are abbreviated. See our Associations page full name and information.

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

First U.S. Finance Partners With SEC to Offer 100% Financing for Entire Equipment Line

LOS ANGELES, CA--- First U.S. Finance (FUSF), a California-based equipment leasing and financing firm, announced today a partnership with Semiconductor Equipment Corp. (SEC) to provide a wide variety of equipment leasing and financing programs on a national scale. Now SEC customers and affiliates can look to First U.S. Finance for assistance in financing new assembly and production equipment. Financing programs are flexible from 3 to 5 year terms with packages starting at $15,000.00 up to multi-million dollar projects. FUSF can combine a variety of equipment in one contract so an entire assembly area can be easily equipped.

Through the FUSF leasing and financing programs, SEC (www.Semicorp.com) customers nationwide can receive 100% financing for all their production equipment including add-on costs like installation, training and warranties. Customers typically only pay documentation fees and one month advance payment. This is a great benefit to the semiconductor and technology markets which are now poised for rapid growth in 2011 and beyond.

About First U.S. Finance

First U.S. Finance is a national independent equipment leasing and financing business dedicated to providing customized programs to meet the growth objectives of small to mid-size companies in a wide variety of markets. FUSF can finance any capital asset or expansion from $15,000 to multi-million dollar projects with terms from 3 to 5 years. Typical equipment financed includes technology assembly equipment, computer networks, medical technology, communication systems, LED lighting retrofit projects, solar projects, electronic systems and furniture. They have lenders for every major commercial market in the U.S.A.

They work with a variety of credit profiles and base approval decisions on both the credit and the collateral structure of the applicant. FUSF has 14 years experience in the finance market and can structure very competitive financing even when traditional lenders cannot. For more information, please visit http://www.FirstUSFinance.com or contact Lester Salvatierra at: Lester@FirstUSFinance.com or call 805-217-9896.

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

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

Bozeman, Montana---Adopt-a-Dog

Name Dingo
Animal ID 11963858
Breed Border Collie / Mix
Age 3 years 1 month
Gender: Female
Color: Black / White
Spayed/Neutered: Yes
Size: Medium

Address
1549 E Cameron bridge Road, BOZEMAN, MT, 59718
Phone
(406) 388-9399

Website
http://www.heartofthevalleyshe lter.org

Email
adopt@heartofthevalleyshelter. org

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/\

Comprehensive personal property tax outsourcing services We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do. Click here to learn what our clients say about our service Gary DiLillo, President 216-658-5618 or gary@avptc.com

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Casino No Show loses to E.A.R. BK Trustee $471,250

Schwarzenegger says governorship cost him $200 million

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Raiders promote Hue Jackson to be head coach
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/01/17/SPKB1HA5VF.DTL&type=sports

California Nuts Briefs---

Blue Shield of California defies state insurance commissioner over rate hikes
http://latimesblogs.latimes.com/money_co/2011/01/blue-shield-of-california-defies-state-insurance-commissioner-on-rate-hikes.html

“Gimme that Wine”

Winemakers to watch in 2011
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/01/16/FDHB1H89CH.DTL&type=wine

The Case for More Sweet Wine
http://www.winesandvines.com/template.cfm?section=news&
content=82839&htitle=The%20Case%20for%20More%20Sweet%20Wine

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com

http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Winery Atlas
http://www.carterhouse.com/atlas/\

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm