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National Accounts Mgr: Truck/Trailer Industry.  Must generate minimum of $500K/month. Click here for detailed description & resume submission info.

Trinity Capital, a subsidiary of Bank of the West, is a national leader in the equipment financing industry with a consistent presence and superior reputation.

Wednesday, January 19, 2005


Classified Ads---Sr. Credit Officer/Sr. Management
    Archives, January 19, 2001 ----John Kruse
        Alabama Co. Wins $9M Award against CapitalWerks
            Survey: 4/5 Major Fin. Firms Have a Chief Risk Officer
Classified---Help Wanted
    Weekly Bulletin Board Complaint
        Alexa Report Leasing Web Sites
            ELA Equip. Management Conference - Feb. 13-15
Orion First Financial Selects Vision Commerce
    MBA Holdings Motorcycle Leasing Operations
        CIT Announces Quarterly Dividend 4th Q 2004
            Siemens Financial services Announces New Hires
News Briefs----
    "Gimme that Wine"
        This Day in American History

######## surrounding the article denotes it is a “press release”

World Leasing Yearbook 2005

ISBN:184374 142 3
Pages: 524
Edition: 26th
Directory Contacts: 4,400 Companies

Price: $225.00 (NORMAL PRICE $250.00)
Yearbooks 10% off to Leasing News readers until this Friday.
(After January 21, $250.00)

The only annually-updated international reference book for the asset financing and leasing industry available. The new 26th edition includes the latest market trends, over 100 authoritative articles and reports on the leasing software and IT market, an exclusive ranking of the top 50 leasing markets by size worldwide with feature profiles from Africa to Venezuela PLUS a directory of over 4,400 companies.

To order call +44 (0) 20 7779 8999 or toll free in the US +1 800 437 9997 to receive your 10% discount. You can also order on line at



Classified Ads—

Senior Credit Officer/Senior Management
Senior Credit Officer experienced in middle- market leasing; structured, vendor and 3rd party to the fortune 1000. Proactive team builder, originations capable with strong work ethic.
Email: kyletrust@hotmail.com

Senior Management: Baltimore, MD
25 year veteran of commercial and equipment leasing seeking a senior management position with leasing or asset based financing company in the southeast (Florida preferred)
Email: kellogg_md@yahoo.com

Senior Management: Denver, CO.
Fortune 500 GM/SVP wants to team up with aggressive lender looking for Western expansion mid-market equip. finance/leasing. 20+ years experience within Rocky Mountain/ Southwest and Ca markets.
Email: legal@csotn.com

Senior management: Hope, NJ.
25 years in optimizing call center operations, collections, billing, and back end revenue generation. Experienced in $7 + billion dollar portfolios. Verifiable achievements.
E-mail: cmate@nac.net

Senior Management: Irvine, CA.
Credit executive, portfolio manager and syndication facilitator. Extensive business building experience in small and mid-ticket operations. Highly innovative. Fortune 100 audit and technology skills. Bottom-line manager. Email: lenhubbard@bigfoot.com

Senior Management: Jacksonville, FL.
15+yrs Collections/Customer Service Expert. InfoLease, CARMS, managed staffs excess 100 VERY successfully - will relocate WITHIN Florida for right position ~ SIMPLY THE BEST
Email: rafftink@aol.com

Senior Management: Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future.
Email: bob33483@yahoo.com

Senior Management: New York, NY, NJ, Ct Tri-State
Top Exec. middle and big ticket, top skills treasury, funding, ops, transaction detail, syndication, ready to max profit, help build quality operation. right now!
E-Mail: leasefinance@optonline.net

Senior Management:
Portfolio Management Consultant; 25+years experience in Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous Process Improvement, Back end Revenue Generation, Cost per Collection Analysis. $5+Billion Portfolio expertise.
Email: efgefg@rogers.com

Senior Management: San Francisco, CA.,
25 years experience w/global leasing company, sales,marketing,business dev., P&L responsibility, asset mgmt, brokering and re- marketing. Interested in joining an est. firm with a future.
Email: rcsteyer@yahoo.com

Senior Management: Syracuse, N.Y.
Int. equip. leasing exec. 25 yrs global P&L sr. mngt., including corporate turnarounds, strategic planning, new biz dev., structure finance, contract neg., vendor leasing specialist.
Email: jimh356094@aol.com

Full listing of all 97 “Job Wanted ads at:



Archives, January 19, 2001 ----John Kruse

January 19,2001 saw news that EAB would be sold, United Capital closing down, El Camino Leasing with serious cutbacks, Saddleback saying it wasn't true, and John Kruse announcing the good news that CapitalStream had raised additional venture capital:

“Capital Stream Streamlines Their Operation for New Round of Financing

" ‘Wanted to let you know that CapitalStream will be announcing in February that we have successfully raised our third round of venture financing. In addition, we have reduced our head count somewhat, but are adding new positions in customer services and sales. Were very excited about the great attraction CapitalStream is getting in the market. Please see the latest news release about our most recent customer.



As we have seen in Silicon Valley, often the venture capital bring in their own representative, who often not only changes direction but cleans house.

“As of January 1, 2003, I resigned my position at CapitalStream (fka System 1 Software). I wanted to take this opportunity to say goodbye to some of the wonderful folks that have made the last 8 years very memorable for me.

“Many within the industry may or may not know that System 1 was started in March of 1995, the same month my wife, Janet, of 5 years passed away. That was a very challenging time for me personally.

“Ironically, I am ending my stint at CapitalStream with the recent birth of Elizabeth and my first child, Lucca William, which seems to bring everything full circle. My work in starting System 1 in those early days helped me through that tough period and, as we progressed, helped create some of the most lasting business and personal relationships imaginable.

“I want to thank all of you who had a part in making System 1 and CapitalStream successful. I have enjoyed every minute of it. I would also like to personally thank those of you who have made a tremendous impact on me personally as well being a strong advocate of our company's direction.

“For the System 1 staff in those early days which consisted of Cliff Monlux, Jim Buckles, Randy Anderson, and Kevin Considine. I have never been involved with a group of individuals that placed more emphasis on the customer's satisfaction than this group.

“ Guys, thanks for showing me how to build a great foundation for a business.

“For our early 'pioneer' customers of Jim McCommon, Brent Hall, Hal and Kathy Hayden, Jim Brady, Bob Baker and Al Vionnet (to name only a few). You made us aware of an opportunity and helped create a great platform to build on while becoming close, personal, friends along the way.

“For some of our key alliance partners who were also instrumental in our early success which include Jeff 'Danger' Werlwas, Russ Hallberg, Randy Haug, Cameron Krueger, Latimer Asch and all the folks at Fair,Isaac.

“Not only has this group been wonderful to work with but they are living proof that all work and no play makes Jack (in this case John), a very dull boy.

“Thanks for all the good times and good luck to you all.

“For Bette Kerhoulas, Bob Fisher, Chuck Brazier, George Davis and Pete/Suzan Stommel. It has been a pleasure sharing experiences on the golf course, the ski mountain, and the UAEL Board. Thanks for the great lessons and good times.

“And last but not least, for Peter Mellon, Steve LeBarron, Mike Donnary, Hans Zahrback, Brian Bjella and Bob Rodi. This group could only be defined as having the 'X' factor, which is a very good thing.

“I would also like to wish all of the folks at CapitalStream good luck.

It has been a great place to hang my hat for the last 8 years and I thank all of you who made it a wonderful place to work.

“Kit, thank you for giving me the opportunity to utilize your publication for this message. Keep up the good work.

“For me, I have no plans for now so I am going to unplug for a brief bit and see what opportunities lay ahead.”

Regards to all,
John Kruse

On August 20,2003 John Kruse he helped form Main Street Finance





Alabama Company Wins $9 Million Award against CapitalWerks

by Kit Menkin

In yesterday's Leasing News, it was reported that six employees showed up on Monday, Dr. Martin Luther King, Jr. holiday, and gave their notice to CapitalWerks, located in Orange County, California. Among them was the credit manager and operations manager, confirmed by the two principals Jim Raeder and Mark McQuitty.


Readers told Leasing News there was more to the story, although we could not substantiate or verify what were told, and the final advice was “to dig deeper.”

Ariton company wins $9 million jury award

By Evelyn S. Pelfrey / Eagle Correspondent


January 18, 2005

ARITON - Construction contractor Carl Sutton went to work as usual on Martin Luther King Jr. day.

Even though Sutton Construction, based in Ariton, had just won a $9 million jury award against California equipment lease/brokerage firm CapitalWerks, LLC, Sutton said he had a lot of work to do Monday.

"It took me two and a half years to get them to court," Sutton said.

In the summer of 2002, Sutton said he was contacted by CapitalWerks via facsimile offering what he thought were good financial terms for the lease purchase of a high-lift fork lift.

"I thought if I could get one Lull lift and move it from job to job, I could save money," Sutton said.

Sutton is a specialty general contractor in the drywall, paint and floor covering market for multi-family apartment complexes.

Sutton testified before a Barbour County jury that he entered into an equipment agreement with CapitalWerks, bid five jobs in South Carolina and one in Auburn based on the terms of that agreement and then could not get the company to return his phone calls.

"The guy I was dealing with... he just became vacant," Sutton said. "We couldn't get up with him."

When contact was finally resumed, Sutton said the company refused to honor the original terms of the agreement, requiring a larger down payment and higher interest rate.

"It was a classic bait and switch," said Sutton's attorney Jock Smith, managing attorney of the Tuskegee office of Cochran, Cherry, Givens & Smith and national law partner of Johnnie Cochran.

"Sutton Construction factored having that equipment into multiple bids and construction contracts making the acquisition of the equipment absolutely necessary," Smith said. "Then, to capitalize on (Sutton's) vulnerability, CapitalWerks refused to honor the agreement unless Sutton Construction agreed to much less favorable terms."

Smith called the case "a perfect example of unlawful predatory lending practices."

On Jan. 6, the jury found CapitalWerks guilty of fraud involving leases on construction equipment and awarded Sutton Construction $4 million in compensatory damages and $5 million in punitive damages.

Sutton made claims for lost profits, increased labor costs, equipment rental, damage to the business reputation and emotional distress.

"They scared me," Sutton said. "I thought they'd drive me into bankruptcy."

Sutton said he feels vindicated by the verdict whether or not he collects on the award and has not yet heard if CapitalWerks plans to appeal.

Evelyn S. Pelfrey can be reached at espelfrey@hotmail.com


CapitalWerks states the issue is not about “Advance Rentals” or a deposit, as they state no contract or money exchanged hands. The award was due to a broadcast fax with “pre-approval language.” Even if they win on appeal, Jim Raeder states by Alabama law, the maximum fine would be $160,000, not $9 million dollars.

He also was aware this group, plus perhaps a few others, were planning a new company and the news of the loss of the law suit may have been the impetuous to move forward their time table.

“I think it's important to make your readers aware of the potential pitfalls involved with any and all direct marketing,” Jim Raeder said in an e-mail. “ I would also like to make it clear that we worked very hard to secure an approval for this tough credit customer all without a signed commitment letter or a deposit check. This situation arose in October, 2002 regarding a D & B profiled marketing flyer pre-qualifying the customer for an equipment lease up to $150,000.00. The marketing flyer was sent without specifying any payment, term or structure to a customer in Barbour County, Alabama.

“The client responded to the marketing piece requesting information to lease a used forklift for $35,000 and filled out an application. After several discussions regarding his equipment needs, the client increased his request to include a work truck for an additional $34,000. Knowing this amount was a reach for a 570 FICO with paid tax liens, we sought out a specialty lender that would understand this type of challenged credit with good collateral. Additional information was provided, and an approval requiring a security deposit equal to 20% of the equipment cost was given. The client was notified of the approval and the requirement of a 20% down payment, and requested we prepare documents for his review. After several calls went unanswered to get the signed agreements back to complete the transaction, we closed the file.

“Less then 30 days later we received a law suit from the Johnny Cochran law firm in Alabama asking for unspecified damages caused by the client's reliance on this marketing piece, as he claimed to have entered into contracts he couldn't complete without the use of this leased forklift, “ Raeder explained. “ Although he was unable to provide documented proof of any monetary damages, the jury still found in his favor for the ridiculous amount of $9,000,000.

“We have notified our insurance carrier, The Hartford, to assist in the appeal and settlement process and intend on fighting this injustice to the Supreme Court if needed. I would also like to seek the help of Equipment Leasing Association and United Association of Equipment Leasing to assist in this case to help brokers and lenders avoid similar traps in the future.”

There have been other cases where attorneys have taken to
court leasing companies and brokers for sending out mass faxes.
One involved Gary Saulter of Chase Industries, in

Grand Rapids, Michigan:



Survey: 4 out of 5 Major Financial Firms Now Have a Chief Risk Officer

U.S. Bankers Weekly

Global financial services institutions are facing growing exposure to risk from a variety of factors, including mega-mergers, off shoring, outsourcing, increasing regulation, and higher volumes of lending. These factors are prompting 81 percent of these institutions to create a new job: chief risk officer, according to Deloitte's biannual Global Risk Management Survey.

The number of large institutions with chief risk officers has increased from 65 percent of the total since the last survey was conducted in 2002. The survey also shows that three quarters of CROs in financial services firms report to the firm's chief executive or Board of Directors. There has also been a 25 percent increase in board-level oversight of risk management over the last two years.

Despite the increasing emphasis on containing risk, the survey shows, however, that enterprise risk management continues to be an elusive goal for many institutions.

In fact, less than one-quarter of survey participants say they are able to integrate risk across any of the major dimensions of risk type, business unit or geography.

Their focus in ERM is on measuring credit, market, operational and liquidity risks. While 38 per cent of respondents say they have integrated the organizational structure required to deal with these risks, only 15 percent to 16 per cent reported progress in integrating methodology, data and systems.


Classified---Help Wanted

Account Representative & Inside Sales Manager

Account Representatives & Inside Sales Manager needed in Nashville, TN & Austin, TX. with exp., in finance & sales, & a successful track record of sales leasing. Work directly with CFOs, CIOs, CEOs and other high-level executives at the Mid-Market level. Please send resume indicating position and location of interest to: Us_DFS_Staffing@dell.com .

About the Company: At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide.


Small-ticket Lessor seeking an experienced accounting professional for a full-time position. Successful candidates should have prior experience in the equipment leasing industry. Knowledge of LeasePlus accounting software a major plus. E-mail: recruiter@gen-cap.com.
[Job Description]

About the Company: Genesis Commercial Capital, LLC; Irvine, CA; www.gen-cap.com


Business Development Officer

Business Development Officer, Camarillo, (Ventura, CA area) for Santa Barbara Bank & Trust. Job description. Contact: ron.neal@sbbt.com Phone 805-384-2581
Fax 801-482-3593

About the Company: Santa Barbara Bant & Trust is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness
and personalized attention of a local community bank.


Funding Manager

Seeking a very organized, detail oriented Funding Manager with experience in discounting consumer and commercial auto loans and leases.
Top salary. Send resume via email to ekaye@advantagefunding.us
or fax to 718 392 5427.

About the Company: Advantage Funding is the leader in automotive and equipment lease financing, Long Island City, NY.



Middle Market Sales Representative

Middle Market Sales Rep.: exp. sales reps throughout country for middle market leasing/financing. Must have min.5-years exp. in “hard assets” ranging from 100K -$1.0MM generated from vendor and /or direct sources. Excel. benefits, base salary and commission program. Resumes to amandell@eqcorp.com .

About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc


Business Channel Manager / National Sales Manager/ Small Ticket Leasing Sales People

We seek a National Sales Manager (Equipment Leasing Experience) for a copier Captive. Also need a Business Channel Manager for a Captive. Also need Small Ticket Leasing Sales People for a multi-$B Bank. CA. AZ. & FL.

MSI International is a global recruiting firm that has been supporting the grown and success of companies and enhancing the careers of professionals since 1968.


National Accounts Manager

National Accounts Mgr: Truck/Trailer Industry.  Must generate minimum of $500K/month. Click here for detailed description & resume submission info.

Trinity Capital, a subsidiary of Bank of the West, is a national leader in the equipment financing industry with a consistent presence and superior reputation.



Weekly Bulletin Board Complaint

1) The vendor called saying he had not been paid for a piece of equipment, and should have followed the Better Business Bureau report on this company located in Southern California. The lessee located in Tennessee signed the contract on November 22, and stated to the Leasing Company in Orange County that they check in amount of $10,406.86 “...cleared my bank on December 2nd. I do not understand why your company would ask for more information after accepting a deposit.”

“ *********finally came back to the customer with an approval that required an additional $6,000.00 upfront   This was in addition to the $10,400 he had already sent them with his lease for a $105,000 machine.  Needless to say the customer was completely frustrated and trapped.   He didn't have the additional $6,000 and knew he could not cancel and get his $10,400 back so he has ordered a panel saw for around $25,000 to clear his account with ********* and get what money he could back from them.    It was a very unfortunate experience and his plans for the CNC machine have been postponed indefinitely.   

“I wish he would have sent me the lease agreement to read before he sent it in.   He was to trusting and as we all know - if it is too good to be true it probably is. “

2) “Because of your news letter and because it would be unthinkable for us to send $50,000 to a man in Florida without a contract, and escrow account, etc., we did not send the money.  Since then, several "customers" of the ******s have contacted us with similar stories.  They are such smooth talkers.  They play against each other.  When I had a problem with old man *******, I called ******* and asked why would ****** wanted to know if I had talked to my attorney and why did I not trust them.  "Good ole *****" smoothes things over and attributes any misunderstandings to old age and the generation gap!”

“. Either way, both wanted me to wire them money.  Then they
could take the wired money to the rich investor looking for the tax write off.  I would have 60 days to purchase all the equipment, etc., present them with the bills, then get the money wired to me.

”First of all, how do you get $2,000.000 to spend on equipment, if you need the $2,000.000 to buy the equipment.  There were so many outs for them in the contract.  If we didn't meet certain requirements, our $50.000 would be a non-returnable deposit!!

”Tell all to stay away from the ******....Nothing but bad news.”

There are two other complaints, but too early to comment upon them at this time, as they involve companies already on the Leasing News Complaint Bulletin Board.




Alexa Ranks Leasing Association Web Sites

www.aba.com American Bankers Association
www.leasingnews.org  Leasing News
  www.monitordaily.com Monitor Daily
www.elaonline.com Equipment Leasing Association
  www.ibaa.org Ind Community Bankers of America
  www.uael.org  United Association of Equipment Leasing
  www.cfa.com  Commercial Finance Association
  www.naelb.org  National Assoc. of Equip Leasing Brokers
  www.iicl.org  Institute of International Container Lessors
www.us-banker.com  U.S.Banker
www.executivecaliber.ws  Exec Caliber-Jeffrey Taylor
  www.lessors.com  eLessors Networking Association
  www.leasefoundation.org Equip. Leasing & Fin Fndn
www.Leasingpress.com Leasing Press
  www.aglf.org  Assoc of Government Leasing  Financing
  www.leaseassistant.org Lease Assistant
  www.eael.org Eastern Association of Equipment Leasing
www.mael.org Mid-America Association of  Equip Lessors
No Data
www.clpfoundation.org   CLP Foundation
No Data
  www.efj.com Equipment Financial Journal
No Data
  www.nationalfunding.org The National Funding Assoc
No Data
No Data
www.leasecollect.org Lean -Lease Enforcement Att Net

David G. Mayer's Business Leasing News is not included in the Alexa report list as it does not have its own individual site and Alexa finds Patton Boggs, LLP Attorneys at Law.  The rating is not valid as it includes all those who visit and communicate with the law firm.  When Business Leasing News has its own individual web site, it will be included in the Alexa survey.

It should also be noted that several of the web sites have their "list serve" posted via their site, meaning their e-mails are counted as a visit to the site, whereas they are "list serve" communication.  These are technically visits to the web site, but primarily to use "list serve."

These comparisons are compiled by Leasing News using Alexa and should be viewed as a "sampling," rather than an actual count from the website itself.  Other than as noted above, we believe the ratings are reflective as most have stayed in the same position, basically, for over a year.

The Alexa tool bar works on most browsers.
They are partnered with Google.

You may download their free tool bar A graph and analysis of the last three months are available.

( Note: the lower the number, the higher you are on the list. It is based on all web sites. Leasing is only a very small part of the various sites such as Yahoo, MSN, Google, etc. )



*** Announcement ***************************

"ELA Equipment Management Conference - Feb. 13-15"

There are only a few exhibit spaces left for this premier event--they are going quickly! Don't be left out...become an exhibitor today!

For nearly 20 years, the Equipment Leasing Association Equipment Management Conference & Exhibition has been the #1 event for asset managers, remarketers and providers of asset management services in the equipment leasing and finance industry. The conference draws more than 375 equipment managers representing leasing companies from throughout the U.S., and those attendees tell us they consider the exhibit one of the major reasons for attending the conference year after year. This year's Conference, scheduled for February 13-15 at the Westin La Paloma in Tucson, promises to be no different.

For more information on exhibiting opportunities and to view the current exhibitors list, please go to:


For further information about becoming an Exhibitor, contact
Royann Holland at rholland@elamail.com or (703) 516-8373.


***** Announcement**************************************

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

Orion First Financial Selects Vision Commerce Front-End Solution

Orion First Financial, LLC of Gig Harbor Washington has selected Vision Commerce, Inc. of St. Charles, Missouri to provide its Front-End Solution, VISION to its joint venture partners. Vision will deliver automated application and transaction processing on a single platform for Orion's multiple Joint Venture Partners. Vision will allow each of Orion's JV partners to operate independently or in tandem with Orion on a transaction by transaction basis. .

According to Steve Lundergan, President of Vision Commerce, "Vision is the perfect solution for Orion's business model. Orion supports a myriad of different Lessors with different ways of doing business. Our patent pending architecture allows each of the Orion JV partners to do business in their unique fashion through as many different business channels as they require. At the same time, they will be able to use Orion's best practice rules to fully accommodate the transactions that belong in the Joint venture portfolios. There is no cookie cutter version of our solution. Vision's scalability can accommodate any number different JV business models in a single platform on Orion's server".

Ted Brownrigg, Vice President of Orion had this to say about the selection.

"One of the commitments we have made to our JV Partners is the use of the best technology available in the market to manage their business. After a comprehensive search, we found that Vision Commerce had not only the most current technology, but also an architecture that would accommodate that commitment. Using Vision Commerce's state of the art technology Orion is able to effectively deliver our lease management programs to our partners. At the same time, the system will provide our Partners the autonomy to manage their business any way they deem is best for them. We are pleased to be working with Steve Lundergan and the people at Vision Commerce. They understand the small ticket leasing marketplace and we look forward to long and successful relationship."

About Orion First Financial, LLC

Orion First Financial, LLC located in Gig Harbor WA, provides a complete and comprehensive suite of services to assist lending institutions and lessors successfully compete in the commercial equipment leasing industry. With a concentration in small-ticket leasing, Orion provides consulting and advisory services, lease servicing and complete portfolio management.

Orion First has developed a funding mechanism by creating joint ventures with lease originators and arranging warehouse and permanent financing. The joint venture program is unique in that it provides a level of control and flexibility needed in today's leasing marketplace. This program allows participants to expand funding resources, improve transaction flow and build lasting value. The company employs state-of-the-art technology combined with years of management experience to insure lease portfolios are managed in a sound and cost-effective manner. For more information about Orion First Financial visit their website at www.orionfirst.com.

About Vision Commerce, Inc.

Vision Commerce, Inc. (www.visioncommerce.com) was created to serve the leasing and finance industries. Vision's goal is to provide its clients access to e-commerce solutions at an affordable price. The company's philosophy is that technology should automate routine processes and provide real-time information, but can never replace industry experience and product knowledge. The leadership team offers finance industry experience, technology expertise and a commitment to listen to the custom


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

MBA Holdings Commences Motorcycle Leasing Operations

SCOTTSDALE, Ariz.-----MBA Holdings, Inc. (OTCBB:MBAH) has signed an agreement with D & M Leasing, Inc., a subsidiary of VT, Inc., for MBA's subsidiary, the National Motorcycle Association (NMDA), to provide retail motorcycle leasing to NMDA dealerships in the United States and Canada. D&M Leasing is under the guidance of Owner Cecil Van Tuyl and co-CEO Larry Van Tuyl, VT, Inc. has grown to become the #1 privately held auto dealer group in the U.S. and a Fortune 500 company. D&M Leasing is one of the largest leasing companies in the country in both the consumer and fleet leasing markets.

The market for motorcycle leasing remains both under-served and largely untapped. By comparison, auto leasing is a fully matured sector with limited future expansion and profit margin potential. Used motorcycles retain a significantly higher portion of original cost in resale values than automobiles which maximizes net proceeds when a lease expires. This economic viability is increasing alongside the overall growth of the motorcycle industry which to date has lacked the participation of a major corporation with the financial capacity to back a national motorcycle leasing program. The CycLease(TM) program provided by D&M Leasing and the Van Tuyl organization is a major step towards creating a well organized leasing marketplace for motorcycle dealers.

The NMDA will be responsible for marketing this valuable program to its membership and will receive an up front commission for every lease signed. In addition, D&M Leasing will make available to NMDA dealers consumer financing on motorcycle sales for which the NMDA will receive a separate up front commission for every bike financed. The Van Tuyl organization is a widely recognized industry leader in auto finance and insurance sales.

The NMDA has already initiated the marketing of the CycLease(TM) program. In the first week alone, newly signed NMDA marketing agents have received verbal participation commitments from the first eight dealers approached in Florida with many more slated to be contacted in the immediate future. The intent of the NMDA is to aggressively market the CycLease(TM) program to grow and capture market share and drive additional membership growth while building a significant primary revenue stream from leasing in the southernmost U.S. regions in early 2005.

D & M Leasing

VT, Inc.


M.B.A. Holdings
MBA Holdings Inc., Scottsdale
Gaylen Brotherson,
480-860-2288, ext. 317


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

CIT Announces Quarterly Dividend for Fourth Quarter 2004

NEW YORK, / -- CIT Group Inc. (NYSE: CIT) announced that its Board of Directors has declared a regular quarterly cash dividend of $.13 per share, payable on February 28, 2005 to shareholders of record on February 15, 2005.

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 approximately $50 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. CIT, with its principal offices in Livingston, New Jersey and New York City, has approximately 5,800 employees in locations throughout North America, Europe, Latin and South America, and the Pacific Rim. For more information, visit http://www.cit.com



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


Appointments Strengthen Commercial Finance Capabilities

ISELIN, NJ, - Siemens Financial Services, Inc. (SFS), the U.S. financial services arm of Siemens AG, today announced that Jay Gonzalez, Thomas Creal, Michael Ollio, and Rod Kelm have joined as Vice Presidents respectively.

The move follows the firm's recent expansion of its existing mid- to large-ticket equipment financing offerings, as well as an increased focus on international financing and long-term forfaiting capabilities for customers across the European Union.

"These new team members bring an abundance of experience and expertise in commercial finance and will be extremely valuable to the firm," said Ed Wojtowicz, Senior Vice President at SFS. "As our market presence and capabilities continue to increase these individuals will play important roles in aiding our growth while providing a superior customer experience."

Gonzalez brings over 15 years of experience in equipment finance sales and management to SFS. He will be based in California and be responsible for developing new relationships throughout the western U.S. He joins SFS from J.P. Morgan Leasing.

Creal has over nine years experience in both national and international commercial finance. He will be based in Connecticut and be responsible for growing the SFS business throughout the northeast region of the U.S. He previously worked with GE Commercial Finance.

Ollio has worked in financial services for over 15 years, and joins SFS after nine years within commercial leasing and indirect originations at PNC Leasing, LLC. He will be seeking large syndicated lease transactions in the eastern U.S. Kelm has been in the leasing business for 24 years, focusing on tax leases and structuring debt for a variety of customers. He will be based in Dallas and will have responsibility for Texas, Oklahoma, Arkansas, Louisiana and New Mexico. Kelm was previously employed by Bank of America.

Bill Haefliger and Allan Gulliver were hired as Regional Managers for its captive Siemens Equipment Financing unit.

"We're very pleased to have Bill and Allan on our team," said Jeff Teucke, Senior Vice President of the Equipment Financing unit. "Both bring a wealth of experience and track records of success that will benefit our Siemens operating company clients and continue the growth of SFS." Haefliger will be located in southern California and will focus on developing business in the western U.S. He joins SFS from the vendor finance group of LaSalle National Leasing. He has over 20 years of leasing and finance experience, including 12 years with Fleet Capital Leasing (previously known as Sanwa Business Credit). Bill is a graduate of the University of California, Santa Barbara.

Gulliver has joined us to support growth in New England for Siemens

Equipment Finance. He is also a long-time leasing industry veteran, most recently with Pitney Bowes Credit and previously with Citicorp Bankers Leasing. He will be located in the Boston area and will work with several Siemens operating companies and their customers to generate new finance and leasing business. Allan is a graduate of Tufts University with an MBA from Babson College.

About Siemens Financial Services

With about 1,500 employees and an international network of financing companies coordinated by Siemens Financial Services GmbH, Munich, Siemens Financial Services offers a broad range of financial solutions. This covers services from sales and investment financing to treasury services, fund management and insurance brokerage. Key customers of our companies are internationally active industrial and services companies as well as public-sector operators. For further information about SFS see


Siemens Financial Services, Inc. is one of Siemens' operating companies in the United States. The people of Siemens Financial Services, Inc. build relationships to deliver customized commercial financing solutions. SFS is led by industry veterans who work to ensure quick, quality financing. With expertise in Asset-Based Lending, Equipment Financing, Commercial Trade Finance and Vendor Financing, each transaction is tailored to fit the specific borrowing needs of the client.

About Siemens

Siemens AG (NYSE:SI) is one of the largest global electronics and engineering companies with reported worldwide sales of $91.3 billion in fiscal 2004. Founded more than 150 years ago, the company is a leader in the areas of Automation and Control, Information and Communications, Lighting, Medical, Power and Transportation. With its U.S. corporate headquarters in New York City, Siemens in the USA has sales of $16.6 billion and employs 70,000 people throughout all 50 states and Puerto Rico. Eleven of Siemens' worldwide businesses are based in the United States. With its global headquarters in Munich, Siemens AG and its subsidiaries employ 430,000 people in 192 countries. For more information on Siemens in the United

States: <www.usa.siemens.com>


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


ACQUISITION OPPORTUNITY: Great opportunity for a successful lease marketing executive or a company interested in expanding in vendor leasing. Company develops full service private label vendor programs for major manufacturers. Founder is retiring, will retain lease portfolio and is receptive to providing some owner financing. For more info, click here.
Contact: Bruce Kropschot at (772) 234-4544 or bkropschot@kropschot.com

Kropschot Financial Services has arranged the sale of over 140 equipment leasing and specialty finance businesses in the past 19 years. www.kropschot.com

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This Day in American History

    1770--- Battle of Golden Hill (Lower Manhattan). Although no one was killed, the Battle of Golden Hill was the first significant clash between citizens and British troops as the colonies moved toward revolution. Several New Yorkers had been wounded in a similar confrontation three years earlier, but Golden Hill was a more direct challenge to the British and the wounds suffered by the patriots were more severe.

    1807-Confederate General Robert E. Lee's birthday , an official state holiday for the State of Texas. His birthday is also observed in Florida, Kentucky, Louisiana, and Tennessee. It is also observed the third Monday in January in Alabama, Arkansas and Mississippi. He was considered the greatest military leader of the Confederacy, son of Revolutionary War General Henry ( Light Horse Harry) Lee, George Washington's best friend. He most daring plan was to turn more against the war by directly attacking Washington, DC, although his troops were discovered quite by accident in Gettysburg, Pa, resulting in one of the bloodiest battles of the Civil War. His surrender April 9, 1865, to Union General Ulysses S. Grant brought an end to the Civil War.
    1809-American poet and story writer Edgar Allan Poe, born at Boston, MA. He was orphaned in dire poverty in 1811 and was raised by Virginia merchant John Allen. In 1846, he married his 13-year old cousin, Virginia Clemm. A magazine editor of note, he is best remembered for his poetry, especially “The Raven.” and for his tales of suspense. He died at Baltimore, MD, October 7, 1949. The Baltimore Ravens are named in his honor. Birthday
    1825- Ezra Daggett and Thomas Kensett obtained a patent for a process for storing food in a can.
    1846—The first military prison on an island was Fort Jefferson, Monroe County, FL. Construction began in 1846 on an island in the Gulf of Mexico, 60 miles from Key West. It was garrisoned this day by Brevet Major Lewis Golding Arnold, 2 nd U.S. Artillery, with four officers and 62 men. The fort had not been completed and was barely defensible. A prison for the confinement of U.S. Military prisoners was established in 1863. The prison, often called Dry Tortugas. During the Civil War the fort was a military prison for captured deserters. It also held the 4 men convicted of complicity in President Abraham Lincoln's assassination in 1865, the most famous being Dr. Samuel Mudd. The Fort was plagued with construction problems and Yellow Fever epidemics. The invention of the rifled cannon made the Fort obsolete, as its thick walls could now be penetrated. The Army finally abandoned Fort Jefferson in 1874. Today it is a national park.


    1863-The founder of the Goodwill Industries Edgar J. Helms was born near Malone,NY. Reverend Dr. Helms became a minister to a parish of poor immigrants in Boston's South End. In that capacity he developed the philosophy and organization that eventually became Goodwill Industries. Helms died December 23,1942, Boston, Mass.
1861 Georgia becomes 5th state to secede.
    1865-- Union occupies Fort Anderson NC
    1871-- 1st Negro lodge of US Masons approved, New Jersey
    1905-Birthday of Oveta Culp Hobby, U.S. newspaper executive and the first U.S. Secretary of Health, Education, and Welfare, director of the Woman's Army Corps (1942-1945). She was noted for her organizational abilities before marrying into the family which owned the Houston Post newspaper. She ran it as executive vice president and later chaired the board for 19 years.
    1898-The first college ice hockey game ever played saw Brown University defeat Harvard University 6-0. Fifty years late, the NCAA staged its first college hockey champions.
    1933 - Giant Forest CA received 60 inches of snow in just 24 hours, a state record, and the second highest 24 hour total of record for the U.S.
    1937 - Howard Hughes set a transcontinental air record, when he flew from Los Angeles, California to New York City in 7 hours, 28 minutes and 25 seconds.
    1937- Phil Everly, of the Everly Brothers, was born in Brownie, Kentucky. Together with his brother Don, he made some of the most exciting pop records of the late 1950's. The brothers came from a country music family, and their parents took them to Nashville in 1956 to meet Chet Atkins. A year later, the Everly Brothers had their first hit, "Bye Bye Love." They were rarely absent from the charts for the next five years. "Wake Up Little Susie," "Bird Dog" and "Cathy's Clown" were among their hits. The relationship between the two brothers began to deteriorate about 1963, although they continued to perform together for another decade. The Everly Brothers got together again in the 1980's. Recently touring with Simon and Garfunkle, who originally wanted to sound exactly like them.
    1943--Birthday of singer Janis Joplin, born Port Arthur, Texas, possibly the most highly regarded white female blues singers of our time. Joplin's appearance with Big Brother and the Holding Company at the Monterey International Pop Festival in August, 1967, launched her superstar status. I was there and she was quite loaded, but then again, most of the audience was either drunk or high and the music very loud and emotion high. Among her recordings hits were “ Get it While You Can,” “ Piece of My Heart, “ Ball and Chain” and the windshield song. She died of a heroin overdose October 4, 1970 at Hollywood, Ca., age 27.
    1944---Football coach Daniel Edward “Dan” Reeves birthday, born Rome, Ga.
    1944- Pop singer and actress Shelley Fabares was born in Santa Monica, California. On her 18th birthday, in 1962, Fabares's recording of "Johnny Angel" hit number one on the Billboard chart. A year later, she retired when she married record producer Lou Adler.
    1946- Country star Dolly Parton was born in Sevierville, Tennessee. She gained wide exposure as part of Porter Wagoner's TV and road show from 1967 to 1974. And Parton did even better on her own. Hits such as "Nine to Five," from the movie in which she starred, and "Heartbreak Express" brought her a wider audience than most country artists enjoy.
    1947---Top Hits
For Sentimental Reasons - Nat King Cole
Ole Buttermilk Sky - The Kay Kyser Orchestra (vocal: Mike Douglas & The Campus Kids)
A Gal in Calico - Johnny Mercer
Rainbow at Midnight - Ernest Tubb
    1949-Brithday of rock singer Robert Palmer, best known for his song, “Addicted to Love.”
    1949 - The President of the United States salary was increased from $75,000 to $100,000, with an extra $50,000 expense allowance for each year in office. As of 2001, the President makes $1,000,000 a year.
    1952---PGA Admits Blacks: The Professional Golfers Association of America amended its rules to allow black golfers to participate in tournaments.
    1953 - Sixty-eight percent of televisions in the United States tuned to CBS-TV, to see Lucy Ricardo, of "I Love Lucy", give birth to a baby boy, as she actually did in real life. The program's audience was larger than that watching the inauguration of President Dwight D. Eisenhower next day. In fact, in many papers, the Lucille Ball baby story kicked the inauguration off the front page.
    1953- Marty Robbins made his debut on the Grand Ole Opry. His first big hit, "Singin' the Blues," was at the top of the country charts at the time.
    1954—Football player Steven L. “Steve” DeBerg, born Oakland, Ca.
    1955---Top Hits
Mr. Sandman - The Chordettes
Hearts of Stone - The Fontane Sisters
Make Yourself Comfortable - Sarah Vaughan
Loose Talk - Carl Smith
    1955- " The Millionaire" premiered on television. The CBS drama that had all of America hoping to find Michael Anthony on their doorstep. Mr. John Beresford Tipton was a millionaire who made a hobby of giving away million dollar checks anonymously to unknown people to see how they handled the sudden wealth. Michael Anthony, played by Marvin Miller, was Mr. Tipton's personal secretary and the star of "The Millionaire." No one ever saw Mr. Tipton but his voice would greet Anthony at the opening of each show and issue instructions for delivery of the next check. Anthony would then find the recipient and give him or her the check, explaining that the recipient had to agree never to divulge the amount or how it was acquired.
    1955-The first Presidential news conference filmed for television and newsreels was held in the treaty room of the State Department building, Washington, DC, where President Dwight David Eisenhower held a 33-minute conference. The film was cut to 28 minutes, 25 seconds, plus introduction and closing remarks, to fit television time formats.
    1957 - Philadelphia, Pennsylvania comedian, Ernie Kovacs, became a star, when he successfully completed a challenge to do a half-hour television show without saying a single word of dialogue.
    1959- Dick Clark's "American Bandstand" was rated the number-one daytime television program.
    1963---Top Hits
Go Away Little Girl - Steve Lawrence
Hotel Happiness - Brook Benton
Tell Him - The Exciters
The Ballad of Jed Clampett - Flatt & Scruggs
    1966 - Robert Montgomery, actor-producer and White House advisor on Presidential telecasts, testified on this date to the FCC that the reports of quiz-show fixing and payola were widespread within the broadcasting industry long before the charges were made public.
    1969 -- The West is best, topping the East 38-25 in the AFL Pro Bowl and 10-7 in the NFL Pro Bowl.
    1969—Football player Tiaina “Junior” Seau, Jr. birthday, born San Diego, CA.
    1970 - The soundtrack to the film, "Easy Rider" earned a gold record, making it the first pop-culture, film soundtrack to earn the award.
    1971---Top Hits
My Sweet Lord/Isn't It a Pity - George Harrison
Knock Three Times - Dawn
Lonely Days - Bee Gees
Rose Garden - Lynn Anderson
    1971 - Ruby Keeler had her comeback in the play, "No, No Nanette", opening at the 46th Street Theatre in New York City. Keeler played Sue Smith in the revival of the 1925 musical. The show played for 861 performances.
    1972-Football Player Tyrone Wheatley, born Inkster, MI.
    1974 - At South Ben, Indiana, Notre Dame ended UCLA's 88-game winning streak. The Fighting Irish enjoyed a 71-70 basketball win over the Bruins of the University of California at Los Angeles.
1974-The longest winning streak in college basketball history came to an end as Notre Dame defeated UCLA, 71-070, to snap the Bruin's 88-game reign. Down by 11 points with less than four minutes to play, the Irish took the lead at 0.29 on Dwight Clay's jump shot from the corner.
    1979---Top Hits
Too Much Heaven - Bee Gees
Le Freak - Chic
My Life - Billy Joel
Lady Lay Down - John Conlee
    1985—Lenny Wilkens became the first person in NBA history to play and coach in 1,000 games as his Seattle SuperSonics defeated the Cleveland Cavaliers, 106-105. Wilkens had played in 1,077 games in a career that ended in 1975.
    1987---Top Hits
Shake You Down - Gregory Abbott
C'est La Vie - Robbie Nevil
Open Your Heart - Madonna
What Am I Gonna Do About You - Reba McEntire
    1988 - A powerful storm hit the central U.S. producing blizzard conditions in the Central High Plains, and severe thunderstorms in the Lower Mississippi Valley. Snowfall totals ranged up to 36 inches at Wolf Creek Pass CO, with 31 inches at Elsmere NE. Tornadoes claimed five lives in Tennessee, and a tornado at Cullman AL injured 35 persons.
    1990- Elizabeth M. Watson, became the first woman to head the police force of a major American city. Houston Mayor Kathryn Whitmire named Watson, who wore maternity "uniforms" and also became the first police chief to birth a baby while on active duty.
    1994 -20ºF (-29ºC) (5 32 AM) coldest day ever recorded in Cleveland OH
    1994 -36ºF (-38ºC) in New Whiteland IN (state record)
    1996-Top Hits
On Bended Knee- Boyz II Men
Another Night- Real McCoy
Always- Bon Jovi
Take a Bow—Madonna
    1998-Hearn Broadcasts 3,000 th Straight Game: Francis Dayle “Chick” Hearn, the only play-by-play announcer the Los Angeles Lakers have ever had, broadcast his 3,000 th consecutive game when the Lakers hosted the Orlando Magic. Hearn's streak began after he missed a game on November 20, 1965, because bad weather kept him from making an airplane flight.
    2000—Top Hits
What A Girl Wants- Christina Aguilera
I Knew I Loved You- Savage Garden
Smooth- Santana Featuring Rob Thomas
Back At One- Brian McKnight


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