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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
or fax to 718 392 5427.

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


Wednesday, January 25, 2006


Classified Ads---Doc. Mgr./Finance/Legal
    Archives—Rodi-eLease/Mellon 4 Sale?
        T-bills hit highest in five years
GE to eliminate small equip. leasing biz?
    Hughes Network Alert removed
        Finally--RW Professional Trial underway
Fraud Prevention Best Practices
        Top Stories--January 16-20
Classified Ads---Help Wanted
    Retired Leasing Prez: Steve Chriest
Sales Makes it Happen
  ---Superb Listener
Capital Crossing/Dolphin Capital results
    C.J. Condon “Accredited Sr. Appraiser”
        News Briefs---
You May have Missed---
    Sports Briefs---
        California Nuts Briefs---
"Gimme that Wine"
    Restaurant Review-Sushi Ran,Sausalito,CA
        Calendar Event Dates
Top Event in Today's History
    This Day in American History
        American Football Poem

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

Classified Ads---Documentation Manager / Finance / Legal

Documentation Manager: New York, NY
10+ years in equipment leasing/secured lending. Skilled in management & training, documentation, policy and procedure development & implementation, portfolio reporting. Strong work ethic.

Documentation Manager: Phoenix, AZ
Lease Administrator with exp. in lease administration, doc. & porfolio management for $200M in IT assets. Additional experience financial analysis process improvement/development.

Finance: Austin, TX.
20+ years all facets of lease/finance. Collection and credit management. Equipment & rolling stock structuring. $150k credit authority, $100 million portfolio management.

Finance: Chicago, IL
Experienced in big ticket origination, syndication, valuation and workout.
Twenty five years, MBA, CPA,
JD, LLM (Tax), structuring specialist. Inbound and outbound transactions. Email:
Transaction Summary

Finance: Orange County, CA
25+ years experience large ticket and mid-market commercial finance. Senior manager in operations, documentation, legal, credit, workouts, portfolio management. $2+Billion portfolio. MBA Finance. Juris Doctor.

Finance: San Jose, CA.
15+ years sourcing debt, managing cash and receivables and other treasury functions. Strong background in credit, contract
administration and bankruptcy litigation experience. MBA Finance.
Finance: Sausalito, Ca
Sr. Corp. officer, presently serving as consultant, fin. service background, M&A, fund raising, great workout expertise, references Email:
Finance: Toronto
Long diverse career financial services industry. Executed billions of dollars of leases over 20 years; structuring, executing and pricing US/Canadian transactions. Per Diem or full time. E-mail:
Information System: North Detroit, MI
INFOLEASE EXPERT - 18 years experience.  Since being downsized in 2002, working as a consultant for several leasing companies.
Seeking consulting projects nationwide.
Legal: Los Angeles, CA
Experienced in-house corporate and financial services attorney seeks position as managing or transactional counsel. Willing to relocate.

For a full listing of all “job wanted” ads, please go to:

To place a free “job wanted” ad, please go to:

Houston Texas; Very Striking Panorama of the City in 1949.
1949, and reprinted this year.
Museum quality digital image on photographic from high-end 1600-dpi scan.



Archives—2001— Rodi-eLease/ Mellon Leasing for Sale?

January 25, 2002-eLease

“In the last year we have seen the rise and fall of the on line broker.

Perhaps the shortest run I have ever seen for any business model in my 20 year association with this industry. It was the "gold rush" and some of the miners struck it rich. Most of them, however, will end up having to work for a living and for years they will be able to tell stories about how close they came.

“When you think about this business in the last five years it has been absolutely wild. Starting with First Sierra raiding the Colonial Pegasus program, T&W, Greentree, NewCourt, AT&T, Linc, Bankvest, Advanta and countless others the last five years have been unbelievable. It looks like things are about to come full circle. All the turmoil of the past few years has prompted people to start focusing on good solid business, honest operations and sound portfolio management. If we leverage automation and the internet to accomplish these things and stay focused on the needs of our customers and vendors, equipment leasing will rise again to favorable status in the financial services industry.”

Bob Rodi

LeaseNOW, Inc.

January 24, 2002-- Mellon Leasing for Sale?

" Mellon US Leasing was told last Tuesday that the division is for sale. They were told it would not be sold to a competitor, which leads him to believe there may be an overseas suitor. He said Mellon booked about $1 billion in leases last year. Apparently the sales staff was given retention bonuses and most of them have a lot in the pipeline, so they plan to stay. My friend actually thinks it will be positive since Mellon tightened up the credit standards quite substantially after purchasing US Leasing."

(Name With Held)




T-bills hit highest in five years

Interest rates on short-term Treasury bills have risen to the highest in five years.

The Treasury Department auctioned $20 billion in three-month bills at a discount rate of 4.290 percent, up from 4.270 percent last week. Another $17 billion in six-month bills was auctioned at a discount rate of 4.340 percent, up from 4.315 percent last week.

The three-month rate was the highest since these bills averaged 4.370 percent on March 19, 2001. The six-month rate was the highest since 4.420 percent on March 12, 2001.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,891.56; a six-month bill sold for $9,780.59.

Separately, the Federal Reserve said yesterday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable-rate mortgages, rose to 4.43 percent last week from 4.41 percent the previous week.

In Chairman Allen Greenspan's last meeting this month, it is expected the Fed will again raise its best rate a quarter of a point to continue to fight inflation, they say.



GE to eliminate small equipment leasing business?

Wall Street Journal (01/21/06) P. B16


With a $360 billion valuation, dismantling General Electric is not an option, but its portfolio could use some pruning. Unlike failed multinationals such as Cendant and Tyco International, GE's various businesses are all profitable and carry numerous benefits. The conglomerate's diversified earnings stream allows it to maintain its Triple-A credit rating, which reduces funding costs for its businesses, but especially financial services.

In addition, GE Capital grants GE's divisions access to financial products, such as vendor financing, that assist with sales. Breaking up GE might eliminate these benefits. Under CEO Jeff Immelt, GE has purchased approximately $110 billion of assets, more than three times the value of divestitures.

Analysts say Immelt should now consider eliminating businesses that do not enhance other parts of the portfolio, have lower capital returns or growth, and greater earnings volatility. Likely candidates might include GE's considerable equipment leasing business, chunks of its consumer appliances and lighting arms, and several residual insurance operations.

(There has been talk in the streets that GE Capital was going to get out of the small ticket leasing business. They like the large dollar transactions, and according to many GE manufacturers, have been moving these capital programs elsewhere. When the palaver gets to the level of the Wall Street Journal, perhaps there is more to it. editor)



Hughes Network Alert removed

"On or about January 4, 2006 I advised your publication that this office represented a creditor whom purchased interest and title in a portfolio originated and serviced by Hughes Network Systems. I am pleased to announce that mutually agreed upon terms have been reached by all interested parties and we now consider this matter resolved.

"As always my staff and I continue to enjoy your publication and wish you continued success.


Troy Lang
Tierra Portfolio Services
605 362 1255 fax 605 362 1215

(As per our policy, when an "alert" or "complaint" is resolved amicably between both parties, Leasing News will remove the "alert" or "complaint" from our bulletin board. editor)



Finally--RW Professional Trial underway

by Christopher Menkin

The trial against the officers of RW Professional, Island Park, New York was postponed several times. It is now underway, Assistant U.S. Attorney Linda Lacewell told Leasing News. All the officers have reportedly made a “deal,” except the “boss.” Barry Drayer, age 66, who continues to deny he was the person running the company or was responsible for money laundering and other charges of interstate fraud.

In a previous move to have the trial postponed, Drayer was described by his attorney Steve Zissou as “ ...just a salesman. ”

In the latest, it is now claimed the case was brought by “... a disgruntled employee and a rival firm that wanted to take over its business.”

Earlier bets were that Drayer was going to use the “snake oil” he reportedly rubbed on Vanguard Leasing, Old Kent, CIT, and with Tom Depping at Sierra Cities. He got caught up with American Express Business Finance for over $20 million from the Sierra Cities portfolio (they'll never see the money is the scuttlebutt and have their legal case on hold, pending the results of this trial) and Crawford & Sons, a Fayetteville, New York, and a host of community banks owed over $15 million, who will be lucky to get a dime on the dollar, it is reported. They have their court case on hold too. This doesn't count the $38 million fine to Bank of New York over the RW professional matter as a result of the handling of the money by one of its officers. The bank is very healthy and wrote this off.

Many lessees were faced with law suits from various banks claiming money was owed to them from leases assigned by RW Professional. Others paid off leases early to RW Professional, who evidently pocketed the money to help make the Ponzi scheme work as RW Professional continued to make leasing payments direct after double dipping and triple dipping leases. The scheme worked as long as sales continued and RW Professional continued to lower margins and reportedly falsify credit to book more leases. The operation reportedly worked before at various other banks, but the perfect storm hit the system. Drayer evidently thought he again could beat the system, actually going through several attorneys in the process, and changes of U.S. attorneys who had originally started the case four years ago.

It does not appear Assistant U.S. Attorney Linda Lacewell is going to let Barry Drayer “skate” free this time.

The other officers, all his relatives, have already pleaded guilty to various charges in the case: his sister Rochelle Besser, 69, the alleged “front” president; his brother Roger Drayer, 63, vice president of marketing; a nephew, Adam Drayer, a computer technician, 26; and a niece, Jennifer Tarantino, 34.

A second defendant in the trial, Stephen Barker, 42, of Lake Forest, Calif., president of Carefree Financial Service, is a well-known lease broker, whose family is still active in the profession. His father, Tony, reportedly active in Carefree Financial Services and an alleged ordained minister, moved back to his native South Africa. His son Bryn allegedly accompanied him out of the country. Barker's other brother, who was allegedly not involved, is still active in the leasing business. He was never named in the matter.

Perhaps the “disgruntled employee”, according to Drayer's attorney Steve Zissou, is Steve Barker, a religious man, who has reportedly lost all his assets defending himself. His crime, he says, he trusted Barry Drayer. He is charged with conspiracy. Barker's attorney, Terrence Buckley of Islandia, said his client was not involved in any crimes. Unfortunately, earlier testimony is powerful evidence against him, as Barker originally told the authorities “all.” It also is perhaps why he is being tried as a co-defendant. Drayer perhaps blames Barker for “talking.”

What Barker told the authorities: he was only doing what Drayer told him to do. He thought it was proper as it was under the direction of his “funder.” He didn't know RW Professional was floating payments, he claims. He didn't know he was doing anything illegal. In July, 2001, he had talked to a “colleague” about what he was doing, and was advised to discuss the matter with the FBI, that ignorance was not a good excuse.

The feds want him in the trial because he personally can testify who really did call the shots, that Drayer was not just a salesman and the cards did not come tumbling down because of a rival firm. The economy pushed the Ponzi firm into not working.

And Greg McIntosh, in a new position at American Express Business Finance, had the brains to look into the names of checks coming in that others had ignored in the past. Then Finance Team of America ((now called Bankers Healthcare (the Castros)) began warning the industry of deals supposedly funded, but not, and deals not paid. The Castros filed a complaint with the Massachusetts attorney general claiming he had not paid them over $125,000 in commissions and questioned his way of doing business. Leasing. News printed their letters and this information, plus the dealings while at Sierra Cities/First Sierra in several articles co-written with Charlie Lester. Community banks were the first to also find leases not being paid. In reality, Finance Team of American Bankers Healthcare) were not rivals, but one of RW Professionals sources of business.

Drayer's attorney tried not to have Barker a co-defendant and made many moves to have him removed.

From Pacer court records (public knowledge:)

"Due to unfortunate events, media and motion to sever the trial, the trial will not go forward as scheduled on 11/1/05 and the jury is excused. Mr. Drayer is in Steve Zissou's Office. Next in Court Conference is set for 11/8/05 at 9:00 a.m. Both defendants to waive speedy trial to 11/8/05. Both counsel for the defendants agree to waive speedy trial. (Coleman, Laurie) (Entered: 11/08/2005)

"Jury Selection 1/18/06 at 9:00 a.m. Government to submit another letter regarding severance issues with more case law that is current. Court reserves decision on defendant Drayer's motion for severance until after letter from Government is received. Waiver forms given to defendants' counsel for defendants' to execute. (Coleman, Laurie) (Entered: 11/16/2005)

"MEMORANDUM OF DECISION AND ORDER - This case involves charges of conspiracy to commit bank fraud, wire fraud, and money laundering. Presently before the Court is a motion by the Defendant Barry Drayer for severance of his trial from that of his codefendant Stephen Barker, who also joins in the motion. Ordered, that the 329 motion by Defendants for severance pursuant to Rule 14 is DENIED. SEE Decision for further details. (Ordered by Judge Arthur D. Spatt on 11/29/05). C/ECF. (Coleman, Laurie) (Entered: 11/30/2005)

"MOTION TERMINATED as to BARRY DRAYER, STEPHEN BARKER: The Government's 361 MOTION to Take Deposition (Videotaped) is WITHDRAWN (SEE document 363 Withdrawing Motion). (Coleman, Laurie) (Entered: 01/11/2006)

"01/22/2006 366 Letter regarding disclosure of tax returns as to Barry Drayer (Zissou, Steve) (Entered: 01/22/2006)

"01/23/2006 367 Letter in Response to Barry Drayer's Letter Opposing Disclosure of Certain Tax Return Information as to Barry Drayer, Stephen Barker (Lacewell, Linda) (Entered: 01/23/2006)"

This is evidently why Drayer didn't want Barker to be a co-defendant:

"Barker made a series of statements to federal agents both before and after his arrest. Specifically, Barker made incriminating statements to FBI agents in August of 2005, which also inculpated Barry Drayer. Barker also provided the government with a laptop computer and delivered an eight page typewritten single spaced statement. The statement attributes all criminal responsibility to Barry Drayer while attempting to excuse his own involvement in any illegality that he might have unwittingly aided and abetted. Barker states in this statement that Drayer told the unwitting Barker to form Medpro in order to facilitate Drayer's secret frauds. The Barker statement reads as follows:

"I can and am willing to testify to the above facts concerning my business dealings with PLS and Barry Drayer. I admit that I made it very easy for Barry Drayer to use me and that I was ignorant in hindsight. But I was NOT a co-conspirator. I was not a part of the “inner family circle” that existed at PLS. PLS was simply a place for me to submit credit applications for loan approval. I had the opportunity to do business with many other funding sources that offered the same programs offered by PLS but we had no reason to ever leave PLS. I would have earned the same referral fees from other funding sources.

"Looking at things now, hindsight is always 20/20 but I had no way of knowing that PLS was setting Medpro and Carefree up to “take the fall” if things ever went wrong for PLS. It is completely out of character for me or my family to participate in any type of fraud or co-conspiracy. Not only did we not have the knowledge of how the industry operated in order to perpetrate such a fraud, it completely violates our belief system which is based on strong Christian values. I trusted PLS and Barry Drayer and that trust allowed him to take advantage of me. By following the instructions of Barry Drayer and his Case 2:02-cr-00767-ADS Document 352 Filed 11/29/2005 Page 5 of 13"

Here is a copy of the full 13 pages:

If convicted, both could face up to 30 years in prison. With time off for good behavior, they could get out in 15 to 18 years.

Drayer could well then be well over 80 years old.

Previous RW Professional stories located here:



Fraud Prevention Best Practices

Allegiant Partners Newsletter

2004 and 2005 produced more than its share of large fraud cases in the leasing industry most notably NorVergence and more recently Allserve Systems which cost lessors an estimated $300 million and $80 million respectively.

Per the ELTimes: "The Equipment Leasing Association Legal Committee met at ELA headquarters for two days January 9 and 10, 2006. Though the committee had a three page agenda, most of the discussion revolved around fraud against lessors and industry fair business practices with customers and channel partners.

The tone set in the meeting is one of greater pro-activeness by lessors to prevent fraud and a new attention to leasing practices. The concern about fraud is driven in part by the emergence of what could very well be the latest major fraud against lessors by Allserve Systems, a company set up to provide IT and telemarketing services. The matter has all of the elements to raise suspicion - non-existent equipment, old equipment, fire, bogus addresses, doctored invoices and financials, bankruptcy and disappearing principals… "

Allegiant Partners saw both of these transactions and fortunately we were able to avoid these and several other fraudulent submissions which have devastated many funding sources in our industry.

We attribute these near misses to the rigorous underwriting standards and fraud checks Allegiant Partners has in place. Allegiant has not been lucky enough to avoid fraud completely but we learned early on what steps we can take to help reduce our potential exposure to fraud.

Steps include:

* experienced credit personnel,

* Allegiant's Supplemental Application form,

*Google and other internet search engines,

*interviewing of applicants, criminal background checks,

* and a multitude of business reports on our lessees, vendors and all the affiliated companies.

The increasing complexity and sophistication of these criminals compounds the challenges facing lessors today. It is estimated that fraudulent applications cost creditors over $1 billion annually however exact numbers are uncertain as most companies do not specifically report losses due to fraud. This $1 billion is only part of the cost of fraud as lessors implement more stringent technology and underwriting standards to combat increased fraud risks.

In addition to our internal controls Allegiant Partners looks to our brokers to help us validate our potential lessees and their applications. Allegiant has very little gray area in our submission requirements and expectations. We need and expect our brokers to protect us and provide all the information they ascertain on their customers. Coaching lessees to exclude a questionable applicant and/or using a ‘front man' to lease the equipment are grounds to immediately terminate a relationship.

Part of the value of Allegiant Partners product offering is to analyze all of the credit information, both positive and negative, and determine if there is a way to get comfortable with the transaction. It's the surprises that our credit department uncovers that are the real deal killers, this includes splitting up larger transactions into 'app only' pieces without our knowledge. A guarantor with a 590 FICO or a bankruptcy isn't necessarily a deal breaker if there are offsetting strengths and/or additional stronger guarantors. We as lessors can be more forgiving and flexible when we know we have the whole story and the broker has proven he is providing all relevant information. In the indirect third party leasing niche it is imperative that funder and broker work together to help reduce fraud and keep our businesses and relationships healthy.

For further information regarding Allegiant Partners, please contact:

Doug Houlahan at 415-257-4200 x 205 or
Paul Foster at 415-257-4200 x 206 or


Allegiant Partners Inc.
999 5th Avenue Suite 300
San Rafael, CA 94901
phone: 415.257.4200
fax: 415.257.4201

(Note: January 5 th Doug and his wife had a son, Brady Douglas Houlahan. Doug is a Capricorn, too, December 27 th . Drop him a note or card to share with his wife at:



Top Stories--January 16-20

These are the top ten stories most "opened" by readers last week.

(1) Oh, No, Mr. Bill! EFG Still in Business!!!

(2) EFG Leasing Closed?

(3) Popular Loses another NorVergence Legal Round

(4) Alert—CBIZ –Property Tax Payments

(5) Ken Goodman joins Financial and Training List

(6) Icon Capital to acquire Clearlink Capital

(7) Funder List--Up-dated

(8) Still an Imperfect Business MJ Fleming, CAE

(9) Top Stories

(10) Sales Makes it Happen--Listening Through a Screen, Darkly



Classified Ads---Help Wanted

Equipment Finance & Leasing Representative

Job opening in
Baltimore/Virginia Region

In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout Baltimore/Virginia Region. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at and view posting 4044

At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!

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
or fax to 718 392 5427.

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


Independent Regional Sales Manager

Reg. Sales Managers:

Philadelphia, Baltimore, Washington, D.C., Florida, Georgia. Other positions available nationally. Vehicle & Equipment Funder.

Earnings potential is unlimited. Two years outside leasing/finance sales, proven track closing deals. Est. customer base/vendors a plus. Click here for more info.


Sales Person

Motivated Sales Person
Burbank, California  

Long established lessor, "app. only" to
$100K, commercial & structured
transactions up to $10 million.

Call Jim McFeeters
818-843-8686 X25


Sales Professionals / Sales Manager / Credit Analyst

Sales Professionals :

Outstanding opportunities for Equipment Finance Leasing professionals with middle market leasing sales backgrounds, an existing or established book of business, and at least 2 plus years experience.  Fast paced environment.  NYC, Long Island, Westchester and National areas available. Lease teams welcome.

Sales Manager :

Seeking a top NYC based sales manager to become part of an excellent executive team. The job would include recruiting salespeople and supervising up to 20.

Credit Analysts :

Seeking Credit Analysts with at least 2-4 years experience. NYC location

E-Mail :


Please visit our website at:



Retired Leasing President is Steve Chriest

August 31, 2005 was Steve's first contribution, “Key Receivers.”

Today through “Selling-Up” (, he travels the world, consulting with major corporations on sales and how to improve the management of the sales and marketing effort, speaking primarily to executive management.

The goal of “Sales Makes it Happen” was to have a column on sales addressed to executives, and if it also appealed to those directly in sales, okay. We also wanted it to be more ear marked for those in the leasing industry, and who best to start the first series, but Steve Chriest, well-known to us as Signature Leasing, who at one time with his main funding source, Bayview Federal, was doing over $100 million a year, through an affiliate program, very similar to One World Leasing. His affiliate program had a system with a matrix score to approve leases locally and fund them before all the formal booking was complete, including bonuses for quota and quality. Steve considered it a “sales organization.” All the leases were $1.00 residual.

Prior to this, he started out as a broker, then a lessor and funder.

He received his bachelor's degree from the University of California at Santa Barbara. Since 1990, he has been President of Adults Toward Independent Living, a San Jose, California non-profit organization dedicated to providing independent living environments for adults with severe spinal cord injuries. Steve resides in the San Francisco Bay Area.

You can reach him at

He will be continuing his column in Leasing News as well as other syndicated news letters and trade publication, but under his by-line and “Selling-Up.”

“Sales Makes it Happen” will also continue, but written by a different guest columnist each Wednesday.



Sales Make it Happen

Superb Listeners

I've been impressed with the listening skills of a few people I have heard about or whom I know personally. Two of the people I want to write about are former President Bill Clinton, and my friend Rob Martinez.

Whatever you might think of Bill Clinton's politics or personal habits, observing him in conversation will confirm that he is a superb listener. While I have never spoken directly to Mr. Clinton, I am aware of what others who have spoken with him say about their experiences.

Generally, those who have spoken with Bill Clinton all agree that conversing with him is an experience they won't forget. All agree that when they spoke with Mr. Clinton, they had the overwhelming feeling that they were the only person in the room, and that they had 100% of his attention. I have been told that when talking with President Clinton, you know he “feels your pain,” though he might not have uttered those words in the conversation!

Anyone who speaks with my friend, Rob Martinez, has a similar experience. When you talk with Rob, he leans ever so slightly forward and looks intently at you as you speak. His eyes never wander to other parts of the room, and he genuinely appears unaware that anyone else is in the room. There is never a doubt in the speaker's mind that Rob is listening totally, with every ounce of energy he can muster.

So, what is it that seems to distinguish superb listeners from the rest of us? First, when you watch them listen, they appear to be just listening, and not listening through a screen, darkly. They never give the impression that they have an image in their mind that has created a screen through which they see and hear the speaker. Although they may know the speaker, or know something about her, they listen as if it was the first time they had ever met her.

While super listeners are listening, they give the impression there is no one else in the room. All their attention is focused on the speaker. There are no interruptions, no hint of a wandering mind, and their eyes never lose their focus on the speaker. I don't know what it's like for them, but for the speaker the feeling is empowering. There is no sense whatsoever that you are not being heard, and understood, completely.

In observing superb listeners in conversation, I've seen that the people to whom they are listening seem as absorbed in the conversation as they are. As strange as it may sound, there did not seem to be any separation between the speaker and the listener. Nothing from the outside penetrated the conversation.

Superb listeners are able, consciously or out of habit, to focus their entire attention on the speaker. Focusing attention is what is meant by true seeing and true listening. There is no reliance on intention, effort, or images and memories of the past. There is only attention , like the attention you give, at least for a brief moment, to the beautiful song of a bird.

To have a conversation with a superb listener is a joy. It's also an inspiration to me as I constantly observe my lack of listening skills and work to continually improve them. I've been around sales long enough to know that even poor listeners can have successful careers in sales. I'm willing to bet, however, that no matter how good a salesperson you are, your sales will zoom into the stratosphere if you become a superb listener.

For previous columns, please go to:


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

Capital Crossing Bank Announces Annual and Fourth Quarter Results

(“ During 2005, the Bank's leasing subsidiary, Dolphin Capital Corp., originated leases with an aggregate investment balance of $62.2 million, compared to 2004 when it originated or acquired leases with an aggregate investment balance of $57.2 million. Dolphin Capital Corp.'s net income was $1.8 million for the year ended 2005 compared to $2.6 million in 2004.”)

BOSTONCapital Crossing Bank (NASDAQ:CAPX) (the "Bank") reported consolidated net income of $16.4 million, or $2.41 per diluted share, for the year ended December 31, 2005, compared to consolidated net income of $17.8 million, or $2.31 per diluted share, for the year ended December 31, 2004.

The Bank also reported consolidated net income of $4.1 million, or $0.63 per diluted share, for the three months ended December 31, 2005, compared to consolidated net income of $3.9 million, or $0.53 per diluted share, for the same period in 2004. Total transactional income for the three months ended December 31, 2005 amounted to $11.2 million, compared to the three months ended December 31, 2004 when the Bank recognized $10.7 million of transactional income.

Nicholas W. Lazares, the Bank's Chairman and Co-Chief Executive Officer, stated, "We are pleased to report another strong year at Capital Crossing Bank." Mr. Lazares further stated, "A significant portion of the Bank's revenue arises from the recognition of "transactional" income. In 2005, the Bank recognized $38.7 million of transactional income, including $27.2 million of accelerated interest income associated with loan and lease payoffs, $10.5 million in net gain on sales of other real estate owned and assets in possession and $939,000 in net gain on sales of loans. By contrast, in 2004 the Bank recognized a total of $35.0 million of transactional income. Since the level of transactional income is unpredictable from quarter to quarter and year to year, the Bank's earnings may fluctuate significantly in the future."

Mr. Lazares also stated that, "We continue to focus on our business of acquiring and managing loans. As we've previously disclosed, the volume of our loan acquisitions can be unpredictable from quarter-to-quarter and from year-to-year. During the fourth quarter of 2005, we purchased loans with outstanding principal balances of $121.2 million for a purchase price of $96.0 million, compared to the same period in 2004 when we purchased loans with outstanding principal balances of $90.8 million for a purchase price of $79.9 million. For the year ended December 31, 2005, we purchased loans with outstanding principal balances of $252.5 million for a purchase price of $207.9 million, compared to 2004 when we purchased loans with outstanding principal balances of $294.8 million for a purchase price of $263.4 million. Included in our loan acquisitions for 2004, were $114.5 million of high quality residential loans that were acquired for a purchase price of $113.0 million. In 2005, we purchased $6.5 million of such loans at a purchase price of $6.5 million. Although other residential loan portfolios were available during 2005, management elected not to bid on or purchase such loans at the offered pricing levels. "

Richard Wayne, the Bank's President and Co-Chief Executive Officer, reiterated that, "During the course of our review of available loan portfolios, we will, in some cases, decline to bid on a portfolio after analyzing the results of our due diligence review, or, in other instances, be outbid by other purchasers. We simply cannot predict how often we will successfully acquire a loan portfolio."

Full press release located here:


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

Christopher J. Condon awarded “Accredited Senior Appraiser”
designation form American Society of Appraisers

Christopher J. Condon, President, Dover Management Group, Inc., Dover, Massachusetts, recently received his designation as an Accredited Senior Appraiser (ASA) Machinery & Equipment from the American Society of Appraisers. Mr. Condon was awarded his designation as a result of successfully passing the Society's intensive written and oral examinations, submission of appraisal data, other qualifying criteria demanded by the Society's International Board of Examiners, and having performed more than 5-years of fulltime appraisal service.

As a member of ASA's local Boston Chapter, Mr. Condon stated, “This is a milestone in my career as a professional appraiser. The American Society of Appraisers is the nation's oldest multi-disciplinary, accrediting appraisal society and passing their examinations and other qualifying requirements is a major achievement.”

Dover Management Group, Inc. performs a full range of equipment related services including appraisals of machinery and equipment such as trucks, trialers, construction, all other modes of transportation, material handling, manufacturing, processing, office furniture, technology, and many other types of commercially employed equipment.

Christopher J. Condon
Dover Management Group, Inc.
Phone 508.785.1277


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

News Briefs---

Banks feeling the squeeze

Sun Microsystems Inc. loses $223 million

Disney to Buy Pixar Studios In Its Move to A Digital Era

N.Y. Times profit drops 41%

Knight Ridder reportedly urging cuts

FedEx taking over joint venture in China

Google launches services in China



You May Have Missed

Morton's steakhouses to go public
Owner will return headquarters to Chicago, keep stake,1,6953393.story?coll=



Sports Briefs----

Lemieux says goodbye for final time

Hawks game plan: Business as usual

Steelers are four-point favorites



California News Briefs---

La Jolla tops California in million-dollar home sales

More pricey homes selling
1 in 8 transactions carries price of $1 million or more



“Gimme that Wine”

U.S. Supreme Court declines Bronco challenge of 'Napa' brand

Wines & Vines 2006 Directory/Buyer's Guide Now Available For Purchase; New Directory Includes 1,300 New Listings, New Growers' Section

Bordelais 'twirl their moustaches' as Languedoc suffers

Ancient oak felled for wine barrels

Texas-size talent to make West Coast Pinot Noir

If you want to know if you got a value for your wine, or what the wine price is today, go to Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1999 Viader



Restaurant Review

Sushi Ran

107 Caledonia Street
Sausalito, CA 94965
Telephone: (415) 332-3620
Fax: (415) 332-3940
Online reservations:

Monday-Friday 11:45 am-2:30 pm

Monday-Saturday 5:30-11:00 pm
Sunday 5:00-10:30 pm

Definitely a reservation!!!

This out of the way restaurant has become one of the most popular in the entire San Francisco Bay Area. Zagats has rated it up there with the other top restaurants from Napa to Monterey. At one time, it was one of the best kept secrets in the Bay Area, until Zagats in 2006 gave it a 28 ( only one restaurant in the Bay Area is higher: Gary Danko.)

Normal waits at Sushi Ran are an hour and a half, and soon it will be like the French Laundry in Yountville or Chez Panisse in Berkeley, where you need reservations way in advance.

Marin County locals have been coming to this "in spot" for years.

It is not on the main street along the bay, but in the "downtown" and you have to look for parking. No view, just the restaurant and wine-saki bar next door, where the waiting is not that long, but the same food.

Again, you are not going here for the view as with the Trident ( terrible fare ) or the convenience ( it's in Sausalito, not San Francisco) nor the decor, as it has been here 20 years. It is clean and crisp, well lit, but noisy. A Japanese bistro.

30 different types of saki and a 300 bottle list will not make it to the Wine Spectator. Also many drink beer here, with their meals. Again, the portions are small, following the not so new trend, presentations are excellent, and friends who have gone here for years tell us it is consistently excellent.

(for other reviews: please go here: 0



Calendar Events This Day

Compliment Day

Robert Burns Day

Irish Coffee Day



Today's Top Event in History

    1945- the first water supply to be fluoridated in order to reduce tooth decay was the water system of Grand Rapids, MI. Fluoridation started with the addition of one part of fluoride ion to each million parts of water passing through the water treatment plant.



This Day in American History

    1821 - The Hudson River was frozen solid during the midst of the coldest winter in forty-one years. Thousands of persons crossed the ice from New York City to New Jersey, and refreshment taverns were set up in the middle of the river to warm pedestrians.
    1831-Birthday of Jane Goodwin Austin, novelist, essayist, and short story writer. Most of her novels were authentically accurate depictions of the Pilgrims which she carefully researched.
    1837 - At 7 PM a display of the Northern Lights danced above Burlington, VT. Its light was equal to the full moon. Snow and other objects reflecting the light were deeply tinged with a blood red hue. Blue, yellow and white streamers were also noted.
    1871- Unveiled in the U.S. Capitol Rotunda, Vinnie Ream's statue of Abraham Lincoln that was authorized by Congress.
    1890- Nellie Bly circled the world in 72 days, stepping into history. Newspaper reported Nellie Bly ( pen name used by Elizabeth Cochrane Seaman) set off from Hoboken, JN., Nov. 14, 1889, to attempt to break Jules Verne's imaginary hero Phileas Foggs record of voyaging around the world in 80 days. She did beat Fogg's record, taking 72 days, 6 hours, 11 minutes and 14 seconds to make the trip, arriving back in New Jersey on January 25, 1980. ::
    1896-Birthday of the leading black American singer and dancer of the Jazz Age, and the Harlem Renaissance, Florence Winfree, born at Washington, DC. She appeared in Langston Hughes's Shuffle Along in 1921 and Plantation Review on Broadway in 1922, then at the London Pavilion in Dover Street to Dixie in 1923. Offered a spot in the Ziegfeld Follies , she turned it down and joined in creating a rival show with an all-black cast. Mills was the first black woman to appear as a headliner at the Palace Theatre. She was so revered for her efforts to create opportunities for black entertainers and to bring the unique culture of blacks to Broadway that more than 150,000 people filled the streets of Harlem to mourn her when she died at New York City, Nov 1, 1927, at age 31.
    1900—birthday of tensor sax player Captain John Handy, Pass Christian, MS.
    1903- (Sleepy) John Estes, an important early bluesman, was born in Ripley, Tennessee. He played on the streets of Memphis in the 1920's, supporting himself by working the night shift at a train yard. His tendency to doze off on the job earned him his nickname. He returned to Brownsville, Tennessee, in the 1940's, where he remained in obscurity for more than 15 years. Estes was rediscovered by a documentary filmmaker. He signed a recording contract and appeared at folk festivals in the U-S and Europe. One of Estes's L-P's included a guest spot by guitarist Mike Bloomfield, and Estes later appeared on an L-P by Ry Cooder. The rock group Joy of Cooking had a minor hit in 1971 with a song written by Estes, "Going to Brownsville." Sleepy John Estes died of a stroke in 1977, just as he was about to begin a tour of Europe.
    1919 - The League of Nations, forerunner of the United Nations, was founded.
    1924-The first Winter Olympic, opened in Chamonix, France, with athletes representing 16 nations. The ski jump, previously unknown, thrilled spectators The Olympics offered a boost to skiing, which would make enormous strides in the next decade.
    1937- Trumpeter Buck Clayton cuts his first record, accompanying Billie Holiday, on “Why Was I Born?”
    1938 - Etta James Birthday
    1940 - the biggest snowstorm on record for Richmond, Virginia came to an end. 21.6 inches of snow fell over a 3 day period.
    1944 - The character of Beulah, a black maid who was played by a white man, Marlin Hunt, first aired on radio's "Fibber McGee and Molly". In 1945, the spin-off, "Beulah", became a radio series.
    1940-- Mary Martin, "My Heart Belongs to Daddy"
    1945 - In New York, Richard Tucker debuted at the Metropolitan Opera House in "La Gioconda". As a note of trivia, I went to the summer camp with his son in New Hampshire, who we became fast friends during this time period.
    1945- the first water supply to be fluoridated in order to reduce tooth decay was the water system of Grand Rapids, MI. Fluoridation started with the addition of one part of fluoride ion to each million parts of water passing through the water treatment plant.
    1945---Top Hits
Don't Fence Me In - Bing Crosby & The Andrews Sisters
There Goes that Song Again - Russ Morgan
I'm Making Believe - Ella Fitzgerald & The Ink Spots
I'm Wastin' My Tears on You - Tex Ritter
    1950 -- 73ºF (23ºC) highest temperature ever recorded in Cleveland, Ohio in January.
    1951- Steve Roland “Pre” Prefontaine, long distance runner born at Coos Bay, OR. Prefontaine was an outstanding athlete who grit, determination, and activism personified Americans' growing interest in physical fitness, jogging, and running. Although never an Olympic Champion or world record holder, he set 14 US records during his career cut short by a fatal automobile accident on a road where he often trained. Died at Eugene, OR May 30, 1975.
    1953---Top Hits
Why Don't You Believe Me - Joni James
Don't Let the Stars Get in Your Eyes - Perry Como
Keep It a Secret - Jo Stafford
I'll Go On Alone - Marty Robbins
    1953- the Cincinnati Mohawks and the Troy(OH) Bruins played the only doubleheader in the history of the International Hockey League, with one game being played in each team's home city. The Bruins won the first game in Troy, 3-0. The Mohawks won the nightcap in Cincinnati, 2-1.
    1958-Elvis Presley's "Jailhouse Rock" becomes the first single ever to enter the U.K. pop chart at Number One
    1959- American Airlines opened the jet age in the US with the first scheduled transcontinental flight on a Boeing 707 nonstop from California to New York.
    1960-- Sam Cooke, "Chain Gang"
    1961- Beginning a tradition that survives to this day, John F. Kennedy held the first televised presidential news conference five days after being inaugurated the 35th president.
    1961- President John F. Kennedy appointed the first presidential physician who was a woman, Dr. Janet Graeme Travell of New York City. Several president prior had received treatment from a female medical practitioner. the one of most note was Dr. Susan Ann Edison, who graduated from the Cleveland Homeopathic Medical College, who treated President James Garfield from July 2, 1881, the day he was shot by an assassin, to September 19, 1881, when he died.
    1961 - The Disney animated cartoon classic, One Hundred and One Dalmatians, was released to theaters. It took an animation staff of three hundred to complete the film in three years, at a cost of $4 million. It was a huge success at the box office.
    1961---Top Hits
Wonderland by Night - Bert Kaempfert
Exodus - Ferrante & Teicher
Calcutta - Lawrence Welk
North to Alaska - Johnny Horton
    1962-Sam Cooke's "Twistin' the Night Away," later done by Rod Stewart, is released on RCA Records. It will make it up to #9 on the pop chart.
    1964 - The Beatles reached #1 on the music charts for the first time, with their single, "I Want to Hold Your Hand" which took the top position not only in "Cash Box" magazine, but also on the hit lists of radio stations. "Billboard" magazine listed the song at #1 on February 1. The group's second #1 hit, "She Loves You" was released on Swan Records, and not Capitol. Other Beatles songs were released on Vee Jay ("Please, Please Me"), M-G-M ("My Bonnie" with Tony Sheridan), Tollie ("Twist and Shout"), Atco ("Ain't She Sweet") and the group's own label, Apple Records, as well as Capitol.
    1965 - Alta, UT, was in the midst of a storm that left the town buried under 105 inches of snow establishing a record for the state.
    1969---Top Hits
I Heard It Through the Grapevine - Marvin Gaye
Crimson and Clover - Tommy James & The Shondells
Everyday People - Sly & The Family Stone
Daddy Sang Bass - Johnny Cash
    1969-- The Beatles release "Two Of Us," "For You Blue," "Let It Be"
    1969-- Creedence Clearwater Revival's "Proud Mary" enters the pop charts
    1971 - Charles Manson was found guilty of masterminding the killings of actress Sharon Tate and six others. He and three female members of his "family" were found guilty of one count of conspiracy to commit murder and seven counts of murder in the first degree and are sentenced to life imprisonment. During one of the most sensational trials in history, it was revealed that Manson regarded the Beatles as angels who communicated to him through their music. In particular, "Helter Skelter," "Piggies," "Revolution 9" and other songs on the "The White Album. He remains in jail today, although he asks for parole each year.
    1975-The Cars win the Rolling Stone magazine annual readers' poll as the best new band of the year.
    1975-- The Carpenters' "Please Mr. Postman" hits #1
    1977---Top Hits
I Wish - Stevie Wonder
Car Wash - Rose Royce
Dazz - Brick
I Can't Believe She Give It All to Me - Conway Twitty
    1981-- Super Bowl XV Oakland Raiders beat Philadelphia Eagles, 27-10 in New Orleans; Super Bowl MVP Jim Plunkett, Oakland, Quarterback
    1984 --Apple's Macintosh computer went on sale this day for $2,495. It wasn't until mid-1985, however, that sales began to take off and this computer began to replace the Apple II model.
    1985---Top Hits
Like a Virgin - Madonna
All I Need - Jack Wagner
You're the Inspiration - Chicago
How Blue - Reba McEntire
    1986- Dionne Warwick's single "That's What Friends Are For" topped the R-P-M magazine singles chart in Canada. Profits from the sale of the disc were donated to AIDS research.
    1986-Bruce Springsteen's "My Hometown" peaks at #6 on the chart.
    1987- the New York Giants defeated the Denver Bronco's, 39-20, to win Super Bowl XXI. The victory gave New York its first NFL title in 30 years. Giants quarterback Phil Simms completed 22 of 25 passes for 268 yards and three touchdowns to win the game's Most Valuable Player Award. Neil Diamond performs the US national anthem.
    1987 - The second major storm in three days hit the Eastern Seaboard producing up to 15 inches of snow in Virginia, Maryland and Delaware. Up to 30 inches of snow covered the ground in Virginia following the two storms
    1988- Guard Rickey Green of the Utah Jazz scored the 5,000,000 point in NBA history to a game against the Cleveland Cavaliers. Green made a three-point shot at the buzzer ending the third quarter. The Jazz won, 119-96.
    1990 - Low pressure developed explosively over east central Missouri and moved into Lower Michigan producing high winds and heavy snow across parts of Iowa, Illinois and Wisconsin. Wind gusts to 60 mph and up to a foot of snow created near blizzard conditions in southeastern Wisconsin and northern Illinois. Wind gusts in Indiana reached 76 mph at Wabash. Thunderstorms associated with the storm produced wind gusts to 54 mph at Fort Madison IA
    1995---Top Hits
On Bended Knee, Boyz II Men
Another Night- Real McCoy
Always- Bon Jovi
    1998 -- Denver beats Green Bay 31-24 in Super Bowl XXXII at San Diego behind Terrell Davis' 157 yards rushing and a Super Bowl-record three touchdowns. A record worldwide audience of 800 million in 147 countries, views the game on television.
    1999-The Rolling Stones open their No Security Tour in Oakland, CA. It is the band's first arena tour in more than two decades. Sue and I were there, four rows from the stage, center right, in the aisle as the usher could not find my site as notednon my ticket. The band was never better, full of energy, spirit, and showmanship. Afterwards, on BART going back to our car, I noted that the tickets I had shown to the usher to find our seats were from the Barry Manilow Show the previous week where we had up-front seats. They were the same color tickets and same style printing. In the dark, the usher using a small flashlight, neither I nor she usher had noticed they were not the Rolling Stone tickets ( that I had placed in my other pocket after the last ticket check and drawn the Manilow tickets out in error, basically only showing the seating numbers.)

Super Bowl Champions This Date

    1981 Oakland Raiders
    1987 New York giants
    1998 Denver Broncos


Jan. 25

Qualcomm Stadium
San Diego, California
Attendance: 68,912

Green Bay






Denver RB
30 carries, 157 yards
3 TDs 2 catches, 8 yards



“Its time, to cheer, Seahawks are here, Seahawks, Seahawks, Yeah, This is our year!!!”

“You got to want it to win it and we want it more. You got to want it to win it and we want it more. Go Steelers."”


by Louis Jenkins

I take the snap from the center, fake to the right, fade back...
I've got protection. I've got a receiver open downfield...
What the hell is this? This isn't a football, it's a shoe, a man's
brown leather oxford. A cousin to a football maybe, the same
skin, but not the same, a thing made for the earth, not the air.
I realize that this is a world where anything is possible and I
understand, also, that one often has to make do with what one
has. I have eaten pancakes, for instance, with that clear corn
syrup on them because there was no maple syrup and they
weren't very good. Well, anyway, this is different. (My man
downfield is waving his arms.) One has certain responsibilities,
one has to make choices. This isn't right and I'm not going
to throw it.