Clarifications---Mar Vista Financial, Villa Park, California

Jamie Chisick wanted to make clear about the residual plan in that the last five payments always add up to at least 20% of the cost of the equipment and the company is the only one to do “start-up restaurants. The changes were made on line, but for those who viewed it before the clarifications, here is what was added:

He wanted this sentence changed to:

"Chisick said he was the only leasing company doing start-up restaurants, just completing a $90,000 to a start-up that no one would touch."

While it was mentioned the company had just completed a $90,000 start-up restaurant, he wanted to clarify that his company was the only one he knew that did start-up restaurants, not just established restaurants. He wanted to make clear there may be others who finance restaurant equipment, but Mar Vista was the only one he knew who did start-up restaurants.

He also wanted to clear up that the residuals were always at least 20%, as he defined they were all “true leases” or “operating leases without a “bargain purchase option.”

The Following paragraphs had this added at his request:

He said most of the leasing deals were 36 months with 31 monthly payments, and after making them, if the lessee made five more payments, the equipment was theirs. He called it a “Term Residual Lease.” * He said that qualified for as a lease. We spoke about the condition that a lease could not have a "bargain purchase" option and in some cases five monthly payments could be considered a "bargain." He add that the remaining payments had to be at least 20% to qualify as a "true lease." All leases were scheduled in this manner.

** **The Term Residual Lease (TRL) acts as an option to either purchase or return the equipment at the completion of the Original Lease Term. Compared to a standard FMV Lease of 12, 24, 36, 48, or 60 months, the term on a TRL is shortened to 10, 21, 31, 42, or 52 monthly payments. The Lessee can return the equipment after the Original Lease Term or they can choose to purchase the equipment by making 2 additional monthly payments on a 10 month term (12 payments to own), 3 additional monthly payments on a 21 month term (24 payments to own), 5 on a 31 month term (36 to own), 6 on a 42 month term (48 payments to own), or 8 on a 52 month term (60 payments to own.) The Residual payments are made monthly. (Note: Jamie Chisick states all remaining payments have to be at least 20% to qualify as a "true lease." All leases were scheduled in this manner.)

The telephone and email address were from the January article in Leasing News, which was quoted, and they have changed:

Telephone is 888-835-9995
email: jchisick@marvistafinancial.com

Conversation with Jamie Chisick, Mar Vista
http://leasingnews.org/archives/Jun2010/6_09.htm#chisick

Classified Ads---Controller

For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

Other e-Mail Posting Sites:
http://www.leasingnews.org/Classified/Posting_sites.htm

Corrections--- Rudy Trebels & LinkedIn---
by Christopher Menkin

There are three corrections to made to the Rudy Trebels LinkedIn site:

First, Cindy Spurdle, Executive Director of the CLP Foundation states Trebels is not a member in good standing, meaning he is not a CLP as he claims on LinkedIn. His first statement that he is one of 350 CLP’s is incorrect. There are less than 200, and he isn’t one of them.

Second, Ralph Petta, COO of the Equipment Leasing and Finance Association says while Trebels may have an application in process, he nor his company are a member of the Equipment Leasing and Finance Association, as he notes in LinkedIn.

Monica Harper, Executive Director of the National Association of Equipment Leasing Brokers says Rudy Trebels is not a member nor is Equipment Leasing Group of America, as the LinkedIn site claims.

LinkedIn is a great web site to connect to others in business. However, it is completely unregulated, unverified, often not correct and those on line often “exaggerate or leave out information that is not complimentary (of course, they would.) More importantly, when you connect it becomes a public endorsement of the person or group that you agree to join.

Many view it as a “Le Tip” on line. And it has many advantages, but as with Facebook, Plaxo, and many others, be careful who you let onto your bus you drive. Are you going in their direction, or more importantly, are they going in your direction?

Many readers emailed and also telephoned about being listed on LinkedIn as a "friend" of Rudy Trebels, now head of Equipment Leasing Group of America, formerly Past PRESIDENT at IFC Credit Corporation.

Several were angry calling it "Character Assassination," "McCarthyism," as well as saying he was the "Teflon Don" of the leasing industry.

If anything was not fact, it what was what Trebels claimed in LinkedIn:

“CLP at Equipment Leasing Group of America
Past PRESIDENT at IFC Credit Corporation
Education - Drake University
Equipment Leasing Group of America
Financial Services industry
August 2009 – Present (11 months)
Rudy is a CLP-Certified Lease Professional, a designation held by less than 350 people in the leasing industry”

Also as a point of information, once you have become a director of a public association board, you are a "public figure." If you head a conference, meetings, and it is broadcast in the media, you are a "public figure." If you appear in the media such as stories brought by the Federal Trade Commission and over twenty states attorneys generals, such as occurred with Rudy Trebels, you are a "public figure."

Also when you go "public" on LinkedIn, information you print is also "public," especially if sent to you by email via the World Wide Web.

To those listed as a "friend," meaning they agreed to be "connected," I contacted as many as I could by email and let them know Leasing News would be printing the list that appeared late yesterday afternoon, Thursday, June 10, 2010:

Note: This is not a complete list as site records 225 connections as well as eight other groups. Only a member of the group has access to all in the group. Here are those listed on the front page by LinkedIn as “linked in” with Rudy Trebels:

“Alexander Cronfield, VP/.COO Apple Credit Capital Group
Joseph Wold, Pres./COO, Gulf Point Capital
Bill Griffith / credit. Op. Mgr. ,Padco Financial
Tom Herlihy., VP Sales & Marketing at TimePayment
Tammy Negelein, Capital Equipment Leasing
John Donohue, Senior Vice President at Direct Capital Corporation
Dave Sendlak, Territory Manager at Latitude Equipment Leasing
Omar Diaz, Financial Services Professional, former VP EAB
Ted Brownrigg, Independent Financial Services Professional
Charles (Bud) Callahan, Owner, National Equipment Leasing
Ross Stites, Exp. Commercial Credit Analyst/Manager/Syndications
Paul Knowlton, CLP, past president, NEFA
Mohammed Ahsan, Partner, Quail Capital
Ronald Lear, formerly PFF * OFC
Tony Sherwin, Owner at Magellan Capital Partners
Marci L. Slagle, CLP, Varilease
Jim Padden, CLP, Padco Financial Services
Chris Raley, Senior VP - Syndications at First Source Funding
Kevin Kepp, Managing Member at Optimus Capital Group
Randy Haug, Lease Team, president, NEFA
Patrick Sponsel, VP at Sharpe Financial Network, Board-NAELB
John Sexton, Equipment and Software Lease Financing
Shannon Green, CLP, •SVP, Credit & Oper. Officer Orion First Financial
Jim Brady, former VP GM at ABCO Leasing, now on his own
Curt Lysne, CLP, Portfolio Financial Servicing Company
Irwin Wittlin, Attorney at Hemar, Rousso & Heald, LLP
Linda Kester, Leasing trainer
'Larry LaChance', CLP, Director CLP
Doug Houlahan, Maxim Commercial Credit”

Several told Leasing News they were taking their name off, and just weren’t thinking, hit the reply, never thought about it.

“I will remove.

Honestly, I just hit the accept button. That will teach me to pay attention. No excuse. I never met the man nor have I done any business with him.

I agree we need to take responsibility for policing our own industry.”

(Due to time delays, never got permission to use his name, so leaving it unsigned.)

There were others that were different:

"I think I will stay connected for the reasons I originally accepted his invitation. From my perspective, it’s a way to track what he is doing but thanks for the info."

Sharon Green, SVP, Credit/Op. Mgr., Orion Financial

"Thank you for the heads-up. I think a lot of people, myself included, have confirmed Rudy's request to "LinkIn" out of curiosity, he appears to be the Teflon Don of the Leasing industry, based on hearsay alone as I have no facts to support what happened with his company(s). I'm not sure I understand your ‘Warning’ or desire to call people out that have ‘LinkedIn’ with Mr. Rudy Trebels.

"I'm comfortable with you printing my name if you feel it's necessary but more than anything I'm curious as to why you feel obligated to print this list."

Doug Houlahan
Maxim Commercial Capital, LLC
(415) 599-4057 - Direct
(877) 77-MAXIM x. 201
(415) 868-4466 - Fax

Doug, let's start with the many complaints from vendors and brokers for not getting paid by IFC Credit Corporation and what they called "lies" told to them (all published in Leasing News):

http://www.leasingnews.org/archives/May%202009/05-08-09.htm#bbc
http://www.leasingnews.org/archives/May%202009/05-01-09.htm#bbc
http://www.leasingnews.org/archives/April%202009/04-29-09.htm#bbc
http://www.leasingnews.org/archives/April%202009/04-08-09.htm#bbc
http://www.leasingnews.org/archives/January%202009/01-28-09.htm#bbc
http://www.leasingnews.org/archives/January%202009/01-14-09.htm#bbc

As important, depending if you were the vendor not paid or broker not paid, here are stories about IFC Credit and its involvement in NorVergence cases as well as the subsequent bankruptcy:

http://www.leasingnews.org/Conscious-Top%20Stories/IFC_stories.htm

From here you can contact Marcus Davin, Benchmark Financial Group (ironically his company has appeared in Bulletin Board Complaints), or Len Ludwig of First Portland Capital, both companies purchased by Trebels, or John Boettingheimer, former president of Pioneer Capital, who for months told brokers not to send deals as he could not fund them and took care of vendors without Trebels help---talk to him or the original founder of Pioneer Capital, Bernie Boettingheimer; others caught in claiming money owed were Askounis & Darcy, PC, $167,588 for NorVergence lease work; $1 million settled with the FTC re: NorVergence leases never reimbursed; $100,000 owed to the plaintiff in Texas in the many appeals in the loss of the SOS case over $11,000 which also had a "hold back," which was not disclosed and one of the reasons they lost as got caught in a lie (ruled by the court, not an allegation.) IFC paid one payment $10,000 and S.O.S. was owed $100,000 payable at $15,000 a month, then $16,000 and final of $16,500.

And these companies, from the BK report:

West Suburban Bank, Lombard, IL. $15 million
Ben Franklin Bank of Illinois, Arlington Heights, IL $1 million
PPF Bank and Trust (no amount)
First National Bank McHenry, Richmond, IL $1 million
DZ Bank, New York, NY $75 million
Northside Community Bank, Niles, IL $2 million
First Chicago Bank and Trust, Chicago, IL $10 million
George Washington Savings Bank, Oakland Park (residual loans)
Albany Bank, Chicago, IL (no amount)
American Bank & Trust, Davenport, IA (no amount)
Lakeside Bank, Chicago, IL (no amount)
Parkway Bank, Harwood Heights, IL (no amount)
Signature Bank, Chicago $500,000

Total: $92 million

Discount Sources: Portfolio
Coactive Capital Partners, Horsham, PA
Court Square/ Manufactures and Traders Trust
Lakeland Bank
USBC, Marshall, MN
Susequenna/Patriot, Pottstown, PA
Commercial National Bank, Fullerton, Calif.
LEAF Financial, Philadelphia, PA

This may be considered "alleged," but ask the president of this company: “CoActiv Capital Partners of Horsham, Pennsylvania on July 9, 2009 filed a suit for over $2 million against IFC Credit Corporation, Morton Grove, Illinois, one of their funding groups, and the two main principals, claiming the officers committed fraud as individuals, specifically not paying off leases when the lessee terminated early, and knowing that the company was ‘essential insolvent’ for almost a year.

There is the $1 million complaint filed from an investor in California, perhaps another "allegation," or the many from brokers who discounted leases with security deposits some 10% and 20% to be returned at the end of the lease by the original lessor ( that's right, any claim for money will have to come from the bankruptcy court and not where the lease was assigned by IFC with the original discounter on the hook to the lessee.)

Doug, if the above does not answer your question, perhaps the Leasing News “Mission” may. It appears in the bottom tool bar in each news edition as well as the web news policy. (1)

In addition to readers who took their name off the connection, several made comments, such as:

“In theory, I agree that if you do not are not inclined to do business with a person or company why accept them on linked in? From your list, I would believe that all those people are willing or already do business with Mr. Trebels.

"In the USA you are not guilty until a court finds you guilty but word of mouth goes a long way in this business which is built on relationships. We choose to do business with those that we believe to be ethical. When I hear from friends in the business about people and companies who are not ethical…we then choose not to do business with them. Simple as that. “

Deborah J. Monosson
President
BOSTON FINANCIAL & EQUITY CORPORATION
P.O Box 15071
Boston|MA|02215
617-267-2900
www.bfec.com

CLP Standards of Professional Conduct

“A Certified Lease Professional will always strive to conduct all business dealings in an honest, ethical, and professional manner.

A Certified Lease Professional will respect ownership of funds delivered as advanced fees or security deposits and will treat in a fiduciary capacity all funds received in that capacity.

A Certified Lease Professional will strive to constantly gain additional education to improve his/her professional competency and will work to promote education and integrity within the leasing industry.

A Certified Lease Professional will never knowingly make false or misleading statements to his/her employer, employees, customers, vendors, brokers or funding sources.

A Certified Lease Professional will never be involved in fraudulent activities.

A Certified Lease Professional will act in a leadership role in the industry and always be held to the highest standards of conduct applicable to the industry.”

(1) Leasing News belief from the Mission of “The World” newspaper:
“An institution which should always fight for progress and reform; never tolerate injustice or corruption; always fight demagogues of all parties; never belong to any party; always oppose privileged classes and public plunder; never lack sympathy with the poor; always remain devoted to the public welfare; never be satisfied with merely printing the news; always be drastically independent; never be afraid to attack wrong, whether by predatory plutocracy or predatory poverty.”

October 30, 1911 Frank J. Cobb, editor, “The World.” His statement is a quote from the publisher Joseph Pulitzer's retirement speech on April 10, 1907.

http://www.leasingnews.org/Mission_Statement.htm

Original Story: Trebels and LinkedIn
http://leasingnews.org/archives/Jun2010/6_09.htm#trebels_linkedin

((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

Alexa Report rates Leasing Media Web Sites

The lower the number, the better the rank in the number of web sites on the world wide web. Leasing Media sites have very small audiences compared to the major web sites. All newsletter go to the company web site and are ranked in this manner. Most are Monday-to-Friday, five times a week. Leasing News is Monday-Wednesday-Friday (most often) and three times a week.

Alexa Ranks Leasing Media Web Sites
US rankings

Alexa Ranks Leasing Media Web Sites
World rankings

David G. Mayer's Business Leasing and Finance 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 and Finance News has its own individual web site, it will be included in the Alexa survey.

*It should be noted that NAELB web site "list serve" requires logging onto their site, meaing 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."

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.

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

Five New CLP’s !!!

The Board of Directors of the CLP Foundation would like to extend its congratulations to our newest group of Certified Lease Professionals. The letters "CLP" behind their name are a visible recognition of their experience in the industry and their professional achievement in having passed the CLP Exam.

James House, CLP
GreatAmerica Leasing
Cedar Rapids, IA

Norm Malkowski, CLP
Dakota Financial, LLC
Los Angeles, CA

Shervin Rashti, CLP
Maxim Commercial Capital, LLC
Los Angeles, CA

Nicholas A. Ross, CLP
Bank of the West – Equip. Leasing
Walnut Creek, CA

Frank Schwarz, CLP
Action Business Leasing Inc.
Pittsburgh, PA

The CLP Foundation is the official governing body for the Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism in the leasing industry. This designation identifies and recognizes individuals within the leasing industry who have demonstrated their competency through continued education, testing and conduct. The letters "CLP" behind their name represent a visible recognition of this professional achievement and status. The CLP Program is the only recognized certification program in the entire world wide equipment leasing and finance industry.

We invite you to visit our site -- www.clpfoundation.org for detailed information about the CLP Foundation and the CLP Program. For further information about our Mentor Program and Anonymous Test Taker Program please contact:

Cynthia W. Spurdle
Executive Director
CLP Foundation
PH: 610/687-0213
FAX: 610/687-4111
E-mail: cindy@clpfoundation.org
www.clpfoundation.org

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

Funder/Superbroker Looking for New Broker Business

Lease Corporation of America in business over 20 years has been funding selected brokers since 2001. We currently fund brokered transactions from $10,000 t0 $75,000 at LCA Bank and have placement capability up to $1MM. We have a very strong service platform designed to process a large volume of small ticket transactions. We are particularly interested in developing special funding programs for flow business and SBA loans in excess of $400,000.

Full List:
http://www.leasingnews.org/Funders_Only/New_Broker.htm#lca

Beige Report--Still Weak

“Commercial and industrial lending by banks remained weak in most Districts, although Philadelphia, Chicago, Dallas, and San Francisco noted business loan demand was firming. Philadelphia also indicated an increase in business lending by non-depository financial companies, and New York reported that underwriting and investment banking activity strengthened.

“Consumer lending weakened in most Districts. In contrast, real estate lending increased even though standards on these loans remained tighter than on other loans, particularly for commercial mortgages. Chicago noted that the secondary market for residential mortgages was beginning to improve, and private equity investment in commercial properties increased in Boston, Chicago, and Dallas.

“Loan quality was indicated to be stabilizing or gradually improving in most Districts, but remained an issue for banks with large exposures to real estate. “

Kevin Dobbs writes in SNL Financial about West Coast Banking Business, "While businesses remain generally cautious about spending, "reports indicated a pickup in loan demand coming from selected businesses that are planning to replace worn or outdated equipment and software," and bankers expect such capital spending 'to increase further in the second half' of this year. And while lending standards remain "relatively restrictive," reports "suggested that credit quality may be stabilizing."

Dobbs notes "This is in line with comments Federal Reserve Chairman Ben Bernanke made during a presentation this week.

"Bernanke said he thinks the U.S. economy will grow a solid 3% to 4% this year. But he noted that such growth will not be enough to quickly bring down unemployment — which stands at 9.7% — because the job losses caused by recession are simply too great in number to fill with normal growth levels."

"My best guess is we will have a continued recovery, but it won't feel terrific," Bernanke said.

Dobbs quoted John Stumpf, chairman and CEO of Wells Fargo & Co., the largest bank based in California, who said as long as joblessness pervades the economy at high levels, Stumpf said, banks will have to grapple with festering credit issues among their customers, and their pool of credit-worthy customers will remain shallower than bankers would like.

Boston
www.federalreserve.gov/fomc/beigebook/2010/20100609/1.htm

New York
www.federalreserve.gov/fomc/beigebook/2010/20100609/2.htm

Philadelphia
www.federalreserve.gov/fomc/beigebook/2010/20100609/3.htm

Cleveland
www.federalreserve.gov/fomc/beigebook/2010/20100609/4.htm

Richmond
www.federalreserve.gov/fomc/beigebook/2010/20100609/5.htm

Atlanta
www.federalreserve.gov/fomc/beigebook/2010/20100609/6.htm

Chicago
www.federalreserve.gov/fomc/beigebook/2010/20100609/7.htm

St. Louis
www.federalreserve.gov/fomc/beigebook/2010/20100609/8.htm

Minneapolis
www.federalreserve.gov/fomc/beigebook/2010/20100609/9.htm

Kansas City
www.federalreserve.gov/fomc/beigebook/2010/20100609/10.htm

Dallas
www.federalreserve.gov/fomc/beigebook/2010/20100609/11.htm

San Francisco
www.federalreserve.gov/fomc/beigebook/2010/20100609/12.htm

Full report
www.federalreserve.gov/fomc/beigebook/2010/20100609/1.htm

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

CLP June Newsletter—Highlights Gary Greene/Bernie Boettigheimer

An Interview with Gary Greene, CLP

Gary Greene, CLP
Lease$mart

How did you get your start in the industry?

I'm a former real estate broker who got burned out by the long workweeks and frustrations of a real-estate finance market gone dead. I got out shortly after mortgage rates went to 16% or more — if you could qualify and get one! How Deja. Vu!

I worked for 3 other leasing companies before breaking out on my own in 1988. In the first 2 companies, I observed scandalously unscrupulous behavior and I learned what NOT to do in the leasing business. When I joined the 3rd company, the company owners either approved the transaction for funding internally or they turned it down. I suggested they let me try to broker some of the transactions they turned down. I researched and established multiple relationships with outside funding sources; 2 years later approximately 90% of what we did was being done on a brokerage basis! This 3rd company was ethical, though and I learned many great lessons about the business end of leasing — things I didn't see working at the 2 prior companies.

Lease$mart started out at our home breakfast nook and then expanded to an outside office where we grew to a peak of 6 employees over the next 20 years. The painful truth is that I was pretty much the only effective producer of sales and should never have gotten so heavy with support staff. NA Vu: I'm back to working from home again — just not from the breakfast nook!

What do you enjoy most about your work?

I LOVE that everybody wins in the kind of transactions we handle. Vendor, Lessee, Funder, Insurance Agent and of course, Lease$mart: all of us benefit when we fund a lease! If that's not rewarding, I don't know what is.

What are some of your biggest challenges?

Funding Sources that abuse my clients - or try to - claiming evergreen rights where there are none, charging termination fees and other charges that aren't part of the contract and similar ethical shenanigans. I spend more than 100 hours every year auditing and helping my clients to get corrected termination statements. How many times could a single funding source really 'forget' to refund the security deposit to my lessees? Last year alone, I saved my clients more than $20,000 by preventing this type of gouging. I consider it my responsibility to know what each lease agreement provides for and to make sure that all parties to the transaction are treated ethically and with respect.

How would you perfect day start?

My perfect day starts with a pre-dawn soak in the back yard hot tub, gazing at the stars, spotting orbiting satellites and watching the first pink rays of dawn blending with the midnight blue of early morning.

Do you have any interesting stories you might like to share with your fellow CLPs and colleagues?

I sang and toured with the world-famous Tucson Arizona Boys Chorus from 1969 to 1972. Chorus tours took me to 48 states and much of Canada and my experience gave me a profound love of music and especially singing. My only regular 'gig' now is to sing with the TABC Alumni Chorus once each year. I've been participating in that for 27 years now, and it's always a thrill to have the curtain open and see an audience waiting to hear me/us perform!

I'm a 'survivor' of what is perhaps the worst shakeout and upheaval our industry has ever seen — and I know that MOST of the business that's been postponed over the last 2 years will ultimately happen, just later rather than sooner. My clients will need what I do and — when they're ready — I intend to be there to provide to them the most attractive and appropriate funding available.

CLP Spotlight

An Interview with Bernie Boettigheimer, CLP

Bernie Boettigheimer, CLP, Lease Police

“Not many people have more than one career in their lifetime. But three?? It does seem odd that all three of my careers are completely different but equally instructive and character-building. Corporate life amid manufacturing appliances consumed my early years while Barbara and I raised three children who are our pride and joy. I learned how to work with people from different disciplines and how they mesh to build a useful product that produces a profit. It was a great experience and very useful in my journey thru my business life. However, in 1983 I threw off that mantle and started anew in my lifetime ambition (until that time) to start up and own an equipment leasing company. It seemed that everything associated with my first career was just a prologue to this next Endeavour. My son, John joined me in 1985 and together we built Pioneer Capital until we were funding $50 Million annually. We sold the company in 2004 and my stay continued until April 2006. My thought was "Retirement, here I come... travel, sleep late, lazy lunches, grand kids." My first two careers were to support my family but when the music stops what do you do?

“Now retired, in April, 2006, reality stepped in. A month in Italy went by, but something was missing. Peggy Lee's great song "Is That All There Is", came to mind. Then in June, 2006, John came up with a brilliant idea which became the outline to what became LeasePolice.com. No doubt it was somewhat inspired to keep me from being a nuisance around the house, but I liked the idea even though my background in the information internet age was generationally challenged. This was a whole new world. There was a similar non-profit firm started by the Leasing Industry in the 90's, but when it was turned over to the prestigious National Association of Credit Men, it had failed .This became my third career and labor of love. What have we achieved since then? Our database has over 40,000 firms with 350 "alerts" of unusual vendor/lessee activities. Success? Just ask our Subscribers who stay away from fraudulent vendors or who decline to deal with a vendor who has five or more repossessions in their history. It has been only three years since we started and we will never stop growing and improving our product. There won't be another career. This is it!

What type of music do you enjoy?

“A search for a quiet place to study while in college led me to a small music room in the school library. My unexpected reward was a new appreciation of symphonic music. Dvorak, Copland, Prokofiev were my new heroes. They reawakened my early interest in my Mother's favorite, Franz Schubert. Later on when I moved to Dallas my interest in the arts grew when I served on the Board of the Dallas Ballet and my wife on the Board of the Dallas Opera. But it was always symphonic music, and when Dallas built our beautiful Meyerson Symphony Hall I had it all. Best of all were the choral symphonies in works such as Carmina Burana by Carl Orff and Beethoven's 9th Symphony. I've even taken several courses on music history and theory.”

If you could transport yourself to any place in the world right now, where would you go and why?

“Italy, of course. We have been in almost every section of Italy, Sicily and Sardinia in our eight trips. The only exception is in the area north of Pisa and the five coastal cities called Cinque Terre. Almost everyone speaks English, history is everywhere, the people are lovely and the beauty is breathtaking. We always drive as the roads are great and we feel right at home. September is the best month as in August all Europe closes down and most tourists go south to Italy and Greece.”

There are other articles in the June Newsletter from Scott Wheeler, CLP, and Ralph Lavin, CLP, both well worth reading:

June CLP Newsletter:
http://leasingnews.org/PDF/JuneCLPNewsletter.pdf

(This is a free “ad” for our good friends the Bateman’s,
proprietors of Thunder Mountain Kona coffee)

Fernando's View
By Fernando F. Croce

A delicate fairy-tale (“Ondine”) and explosive action (“The A-Team”) vie for attention at the box-office, while three comedies (“Mystery Train,” “Youth in Revolt,” “When in Rome”) give DVD viewers plenty to laugh about.

Ondine (Magnolia Pictures): Following a stylish venture in New York City with “The Brave One,” acclaimed Irish director Neil Jordan (“The Crying Game”) returns to his homeland with this lyrical, often enchanting fairy tale. Colin Farrell plays Syracuse, a fisherman who one day finds a beautiful young woman (Alicja Bachleda) caught in his nets. With the help of his vivacious daughter (Alison Barry), Syracuse takes her in and calls her Ondine, believing that she’s the legendary mermaid from the tales he grew up listening to. The two fall passionately in love, but can their union survive as reality intrudes into the realm of myth? A movie that somehow manages to blend fantasy with grit, Jordan’s romance is both magical and endearing.

The A-Team (20th-Century Fox): Big-screen adaptations of beloved TV shows are a dime a dozen, but this breezy action thriller manages to recapture the wisecracking spirit of the early 1980s series. In it, a group of four war veterans framed for a crime get together to sniff out the true culprits, one explosion at a time. There’s cigar-chomping leader Hannibal (Liam Neeson), wise-guy Face (Bradley Cooper), eccentric ace pilot Murdock (Sharlto Copley), and bigger-than-life specialist B.A. Baracus (Quinton “Rampage” Jackson), who form the A-Team for covert operations. The story may not hold many surprises, but the nonstop combo of stunts and laughs cooked up by director Joe Carnahan (“Narc”) will give audiences looking for summer thrills plenty of bang for their buck.

Netflix tip: Though he had his international breakout with “The Crying Game,” director Neil Jordan had a fascinating career before and since that 1992 hit. Netflix provides the perfect venue for catching up with this unique talent, from his fascinating 1984 re-imagining of Red Riding Hood (“The Company of Wolves”) to the critically acclaimed 1986 crime drama “Mona Lisa” and the 1996 historical epic “Michael Collins.”

New on DVD:

Mystery Train (Criterion): A pioneering staple of American indie cinema, director Jim Jarmusch (“Stranger Than Paradise”) offers up a delicious series of deadpan skits in this 1989 gem, which is finally getting the Criterion DVD transfer it deserves. Taking place around a shabby hotel in the Elvis Presley hometown of Memphis, it follows the interlocking stories of an unpredictable group of characters. There’s a couple of loopy Japanese tourists (Masatoshi Nagase and Youki Kudoh) who wander in and out of the town’s landmarks without speaking a word of English, an Italian woman (Nicoletta Braschi) who believes the place is haunted by the ghost of Elvis himself, and a gang of bumbling hoods (including Steve Buscemi). Framed by hilarious appearances by the legendary Screamin’ Jay Hawkins, it’s a one-of-a-kind comedy.

Youth in Revolt (Sony): Forever typecast as a soft-voiced nerd, Michael Cera gets a chance to expand his repertoire in this amusing adaptation of the popular C.D. Payne novels. Cera plays Nick Twisp, an introverted teen whose hip taste in art doesn’t help him overcome his tumultuous family life and lack of success with girls. That’s when he meets lovely, free-spirited Sheeni (Portia Doubleday), the girl of his dreams. In order to reach her, Nick develops an alter-ego that’s the exact opposite of him: Francois, a rebellious, cigarette-smoking bad boy who might just provide the shot of coolness that Nick has been looking for. Director Miguel Arleta and an impressive cast (including Steve Buscemi, Justin Long, Jean Smart and “The Hangover’s” Zach Galifianakis) keep the laughs coming.

When in Rome (Walt Disney Pictures): If Italy and romance are more your speed than France and action, check out this lightweight comedy, which presents a chance of pace for superhero-movie director Mark Stephen Johnson (“Daredevil,” “Ghost Rider”). Beth (Kristen Bell) is a New Yorker who, disillusioned with love, decides to try her luck in Rome. As soon as she grabs a few coins from a mystical “fountain of love,” however, a gaggle of suitors is after her, including a magician (Jon Heder), a millionaire (Danny De Vito) and an artist (Will Arnett). But will this spell extend to the man of Beth’s dreams (Josh Duhamel)? Reminiscent of the European 1960s travelogues that used to star Sandra Dee, this winsome comedy should please viewers looking for fluffy fun.

Howell-Brigthton, Michigan---Adopt-a-Dog

“ABBEY was born in November 2009, she is a black labrador retriever - spayed, microchipped, on heartworm preventative and current with her vaccines. She weighs about 60 pounds. Abbey loves to swim, splash, chase the water out of the hose - it will be a very wet summer for her and her new forever home. She even swims in her water dish - (oops) She is a slow eater, gets along very well with big and small dogs, doesn't seem to pay attention to cats, good with horses and barn cats and chickens. Good with children - but will knock down toddlers with her tail. Abbey is close to being house trained, she is still in her chewing stage - so beware - whats yours may be hers if it is left out (oops again).

“Abbey does well on a leash - of course needs training - she is beautiful and kind and comical, and playful, and inquisitive, rides great in the car and water proof - and everything more a lab should be. She would make a fantastic fishing buddy - you might not even need a fishing pole or net with her. Abbey's adoption fee is $250.00, she would love a home with a canine friend and a fence to keep her safe.

“Foster mom Jan gladllc@netzero.net: Abbey will be shown at the Salvation Army Annex in Brighton (7000 E. Grand River Ave.) on Wednesdays noon-3 and Saturdays noon-4. She will also be at the Brighton Farmer's Market on Saturdays 9-noon, weather permitting."

Abbey is up-to-date with routine shots, house trained and spayed/neutered.

lcrhowell@yahoo.com
Voice Mail:(810) 220-9394

Regular Mail:

Last Chance Animal Rescue
P.O. Box 1208
Howell, MI 48844-1208

http://www.lastchancerescue.org/index.php?lcr=adoptableanimals

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

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

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

Fitch on FASB proposed regulation changes for Banks/Leasing

FASB recently unveiled its much anticipated proposal on financial instruments and it requires most financial instruments, including loans, to be measured on the balance sheet at fair value.

The most notable change in the proposal, if adopted in the current form, will be the requirement to account for all loans at fair value. 'This is a profound accounting change that will affect the reported balance sheets of most banks in a very significant way, with possible repercussions on bank analysis and reported bank capital' said Olu Sonola, Director, Fitch Ratings. From a regulatory standpoint, it remains to be decided what the capital impact will be; however, the total equity of most banks is set for more volatility.

In a December 2009 Fitch study of 20 large commercial banks in the U.S., loans made up 55% of total assets, although this figure would be higher for smaller and regional banks. 98% of loans held by the banks were classified as held for investment and therefore measured at amortized cost. Based on Fitch's review, if the proposal for loans was adopted in the third quarter of 2009, it would have resulted in a decrease in shareholder's equity of $130 billion (approximately 14% of the combined total equity of all the 20 banks reviewed). This reduction excludes the tax effect and the offsets from applying FV to the liabilities that fund the loans.

While the proposal is silent on disclosure, Fitch believes that current disclosure on the fair value of loans is largely not additive to analysis. An overhaul of disclosures on the fair value of loans is necessary to aid transparency and new disclosures would be expected to require more disaggregation. Furthermore, given the potential for a lack of an active and liquid market for loans, disclosures of meaningful sensitivity analysis coupled with the methods and significant assumptions used in the valuation process would be needed to provide a robust and transparent presentation to be insightful to analysts and investors.

Fitch will further study the analytical implications of applying fair value of loans as this will likely add increased volatility to core capital measures, irrespective of the regulatory capital treatment, which is yet unknown.

Full Report:
http://leasingnews.org/PDF/FASBFullReport.pdf

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

News Briefs ---

Mortgage rates at new record low
http://www.bankrate.com/finance/mortgages/mortgage-rates-at-new-record-low.aspx

Jobless claims, exports fall in sluggish recovery
http://www.boston.com/business/articles/2010/06/10/new_jobless_claims_
dip_for_third_straight_week/

Auto dealers could see new financial regulations
http://www.usatoday.com/money/autos/2010-06-11-financialreg11_ST_N.htm

You May Have Missed---

In Louisville, View of Banks’ Role in the Everyday
http://www.nytimes.com/2010/06/11/business/economy/11main.html?ref=business

Sports Briefs----

Celtics claw back vs. Lakers in Game 4, even up NBA Finals
http://www.usatoday.com/sports/basketball/nba/2010-06-10-finals-game-4-lakers-celtics_N.htm

Blackhawks take Stanley Cup on Chicago victory lap
http://www.chicagotribune.com/sports/hockey/blackhawks/ct-met-blackhawks-stanley-cup-20100610,0,3146850.story

A&M Could Throw Off Big 12 six targed by Pac-10
http://stanford.rivals.com/content.asp?CID=1093010

“Gimme that Wine”

Foley acquiring Chalk Hill Winery
http://www.pressdemocrat.com/article/20100610/BUSINESS/100619941/1350?Title=Chalk-Hill-Winery-being-sold

Rosés, With All Due Respect--by Eric Asimov
http://events.nytimes.com/2010/06/09/dining/reviews/09wine.html?ref=dining

100 PercentCork.org Launches Pledge Drive to Reinforce Americans' Overwhelming Preference for Natural Cork: Time to Make Their Voices Heard
http://finance.yahoo.com/news/100PercentCorkorg-Launches-prnews-3739336469.html?x=0&.v=1

Retail Wine Sales Grew Faster in May
http://www.winesandvines.com/template.cfm?section=news&content=75022&htitle=
Retail%20Wine%20Sales%20Grew%20Faster%20in%20May

Wine: Will Rosenblum still be Rosenblum?
http://voices.washingtonpost.com/all-we-can-eat/wine/wine-will-rosenblum-still-be-rosenblum.html

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

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

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

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

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

Baseball Poem

BOB SHEPARD
Bill Lattanzi

Transmigratory birds -
Orioles, Jays, Cards -
In town one day, gone the next.
Our cities connect by rail by bus by train
By plane, by wire and less.
We move.
Born in the burbs, 90 miles from your
Calm, Bob Shepard:
"Now batting. The Centerfielder. Mickey Mantle."
And you were old then. Doing your crosswords,
Looking up at just the right moment, never
Missing a line. Your P.A. voice sitting
kindly between the squawk of the Scooter and
the Ol' Redhead, wised up, seen it all.

We migrate and grow by rail and plane and
PF Flyer - running faster, jumping higher -
Now we're minutes from Fenway, and
Sox fans, too. Proof that peace is possible;
It's all a game. And with my sons
We sit, ghost of my Dad and we and them and watch
Rootless and rooted, rooting,
And listen for you, Bob Shepard,
87 I think you are, still there,
In between clever McCarver and professional Buck.
Look up, Bob. Look up.
"Number 2. The shortstop. Derek Jeter. Jeter."
The game goes on.