Wednesday, June 3, 2009

Headlines---

Classified Ads----Other Sites
HL Leasing Blog discovers UCC's
    by Christopher Menkin
Top 25 Most Influential Leasing People-June 3
Sales makes it Happen---by Scott Wheeler
    Looking Forward
Classified Ads---Help Wanted
    Placard---Work by the hour
        Letters-We get eMail
    PickYourlease.com (You gotta read this one!)
Quick Medical Launches Lease Program
News Briefs---
Brazil navy races to pull Air France wreck from sea
    Irwin Union parent faces NYSE delisting
        Pending home sales rose in April
Ford U.S. sales strongest since July
    Zoellick Warns Stimulus 'Sugar High'
Windows 7 Available on October 22
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HL Leasing Blog discovers UCC's
by Christopher Menkin

http://hlfresno.blogspot.com

The blog above ("An attempt to organize HL Leasing research") has discovered a law suit between Pentech Financial, Campbell, California, and HL Leasing, Fresno, California, that was going to a hearing shortly before Heritage Pacific and HL Leasing CEO John Otto committed suicide. Following this lawsuit, existing leases out of state were found being serviced out of Cincinnati, Ohio, reportedly by Key Corp., being answered as "Pentech Financial." The telephone number in the lease assignment form (part of the lawsuit documentation) while at a Cincinnati post office box address is the Pentech Financial Campbell, California address found by using Google as a telephone number search.

There was a hearing scheduled for HL Leasing's lawyers to attend on May 26, 2009 in a case in New York called "In re John Richard Constable, Debtor, HL Leasing, Inc., Plaintiff against John Richard Constable", Case 08-76313 and 8-09-08030. In that case, one of the exhibits to the complaint filed by HL Leasing was an assignment of leases from Pentech to HL Leasing. A list of 48 leases was included in the court records. There are leases still on going, some to expire in 2011.

The documents concern the location of equipment in a bankruptcy from a lease originated by American Capital Group, discounted to Pentech Financial, non-recourse, who in turn discounted them to HL Leasing, non recourse. A list of the leases discounted is included in the transcript. There may be more here, as well as elsewhere, filed under other jurisdictions and secured party names. This is a major find. This blog should be congratulated for what it contains and for its results. It is a further indication of the value of the internet.

(Click on the list to make it larger)

The payments on the lease were being made to a Pentech Financial lockbox in Cincinnati, Ohio, reportedly set up by Key Corp., perhaps their Equipment Lease Finance division. This is important as Dan Ramirez was calling them "American Express" leases. American Express Business Finance was sold to Key in 2004. It could be in referring to buying leases they were leases from Key that were originally American Express Business Finance, and perhaps other leases purchased here, or sold here, was the jargon being referred to as "American Express" leases. The leases may exist. There may be many of them.

Pentech Financial CEO Ben Millerbis, CLP, told Leasing News "the information is not accurate." He made no further comment. He may have been referring to the specific court case, but he did not explain. At one time he acknowledged that John Otto had an investment in Pentech, but had reportedly withdrawn. It was shortly thereafter that Otto basically closed down Heritage Pacific Leasing in Fresno, California, and also let the State Board of Equalization Sales Tax Permit expire. Around this time, Pentech itself started its downward trend that basically saw the company withdraw from active leasing at the end of last year.

1988 WAEL (Western Association of Equipment Leasing President ) Ben Millerbis, CLP (left) of Pentech Financial Services passes the gavel to 1989 President-elect Jim Possehl, CLP of Republic Financial Corporation during the Annual Business Meeting at Lake Tahoe Conference.

Millerbis claimed at one time his company had as many as 9,000 accounts a few years ago with those accounts serviced by Lease Dimensions. Reportedly US Bank is servicing around 4,500 of them as of a few months ago. The Navigator lease program has basically closed down in San Diego, California, with only the accounting manager remaining. It is reported that Lease Dimensions is still servicing a small number of accounts as well. Basically left in Campbell is a recovery team headed by Larry Blazek. Sales manager and Vice-president Brad Brisbin is gone, as well as vice-president Ron Wagner, who put together the team that successfully funded over $300 Million in small ticket leases. Brad Peterson left the firm and other venture group executives such as Peter Eaton left much earlier.

Pentech appears not to be formally servicing any accounts but might be managing residual plays if available, and certainly the servicing is being announced under their name. The lockbox in Cincinnati, Ohio was not explained by Pentech Financial, nor the sale of leases to HL Leasing. What role Ben Millerbis, CLP, may have had in leases sold to HL Leasing investors is not known at this time.

HL Leasing Case (2.7mb):
http://leasingnews.org/PDF/constablecomplaintandexhibits.pdf

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Top 25 Most Influential Leasing People-June 3

The nominations are made by readers that Leasing News accepts as "anonymous." This is an effort to keep this from becoming a "popularity contest."

I apologize to those who nominated people that were not accepted for the list. There have been many who have been helpful, or active in a leasing association, and may give rise to a category such as "honorable mention."
Kit Menkin

"Influential" as "a person whose actions and opinions strongly influence the course of events" {Online Dictionary}. They must be alive, and do not need to be active any longer in the leasing or finance industry.

Send nominations to: kitmenkin@leasingnews.org

New nominees to appear in the next list:

Ned Mundell-- Ned was chairman and CEO of U.S. Leasing International from the 1970s until just after the company was sold to Ford Motor Company in 1987. During that period of time, Ned led US Leasing to a position of being the largest independent leasing company (NYSE public company) in the United States, and amongst the largest in the world. He brought the company to international markets in Europe, Latin America, and Asia, forging banking and finance partnerships with some of the largest companies in the world. In Japan, even today-years after Ned's retirement-- Ned is viewed as an extremely important and influential person in the industry (I witnessed this while meeting with the CEO of Orix in Tokyo a year ago). Under Ned's leadership, US Leasing in the US became an early leader in the vendor business with active and important programs with the likes of Digital Equipment Corporation, IBM, Wang, NCR, Kodak, Lanier, and more. Ned led his management team to act swiftly to engage with all the baby bells when they were spun out, and the company landed exclusive program agreements with Southwestern Bell, Nynex, US West, and PacTel. Finally, Ned's negotiations with Ford were at the time characterized as "brilliant", as he sold the company for $68 a share, far exceeding the company's equity value in the markets at the time. In 1987, the year Ford bought the company, US Leasing International was the most successful stock on the NYSE in terms of increasing value.

Alan J. Mogol, Attorney-- Over the last 25+ years Alan and his team have created a large volume of middle market lease documentation currently used by the majority of the larger bank and finance companies in the industry; including standard forms of lease documentation as well as industry standard syndication, assignment, notice of assignment, participation and motor vehicle titling trust documents. Much of what Alan has created is considered de facto industry standard in the bank middle market space. He is a frequent lecturer and author in the equipment financing area.
http://www.ober.com/shared_resources/resume/mogol.html

Robert W. Stubbs--- Founder of Tricontinental Leasing in St. Louis, relocated to Paramus, NJ when purchased by Yeagan Assoc., later bought by Bell Atlantic. Bob was Chairman of the AAEL (now the Equipment Leasing and Finance Association) prior to retiring and no one was a more active supporter of the Industry.

June 3 List of Top 25 Most Influence in Leasing Industry:

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Sales Make it Happen --- by Scott Wheeler With over twenty-six years of leasing experience and an Executive Masters in Business Administration, Scott is an accomplished senior leasing executive with leadership qualities in marketing and operations. His extensive experience will benefit organizations looking to reach a higher level of profitability and corporate development. Looking Forward There are many bright signs for those individuals who are willing to look forward rather than backward. Every day I speak to individuals who are long term veterans in the industry and are aggressively positioning themselves to turn challenges into opportunities. A twenty year plus veteran who finds himself redefining his business, is apprehensive about the changes he is instituting; however, he is convinced he is making the right moves. Some days he feels as if he is starting all over again. This lease origination operation has made several changes with its sales staff. The owner has actually hired a few new experienced sales personnel who have brought with them new industries and new expertise. He has worked diligently to add several new funding sources and better understands the needs of his funding pool. Changes can be difficult, but necessary to move forward. This individual is accepting that his business will be different in the future. He expects to be offering more creative structures and solutions in the near future compared to the commoditized transactions of the recent past. This individual and his operation are redefining who they are and what they will be offering to their clients. Admittedly, sales volume is significantly below where it needs to be; however, the company is looking forward and expects it will realize a stronger position in the market in the near future. There are real opportunities developing in the financing/leasing arena. These opportunities already are looking different than the business we were funding just a few months ago. There are some voids in the market caused by the contraction of competition and there are real cash flow concerns by nearly every small and medium sized business. Vendors and end-users are looking for straight forward facilitators who are well versed in the current market and willing to offer solutions based upon individual needs rather than standardized products which are not satisfying current requirements. Past boiler plate offering are no longer conduits of success for the clients, vendors and funders, because of the changes which have occurred. Therefore, it is the originatorÕs responsibility to alter his services in order to properly match the clientÕs needs with the proper products and available funds. The new market requires us to change. The transaction process will be more difficult to facilitate, it will take time and require more explanation. The gyration we are experiencing will naturally eliminate many who are less committed, unable or unwilling to offer superior leasing/financing services. Many veterans see the return to the days when our industry was distinguishable from institutionalized equipment lenders, when lease originators offered creativity, flexibility, equipment expertise, and unique structures to satisfy the needs of each customer. As we proceed through this period, I am confident most savvy players will innovate. As margins naturally increase, new and different sources of funding will enter the industry, and replace or supplement the dominant funding sources which are significantly pulling back, or withdrawing entirely. The industry is moving ever so slowly away from a period of lowest common denominators (the industry was funding sub-credit transactions Ð high risk; with sub-par pricing - low rewards). The industry is returning to a more traditional risk/reward correlation. The lease originator is being required to strengthen transactions with additional collateral, needed guarantees, shorter terms, and pricing which reflects the current risk. This process takes more effort, it requires creativity, and most importantly it requires a knowledgeable lease originator. The opportunities will grow for those individuals and companies who are engaged with an eye toward the future, rather looking to the past. The individual I mentioned above, who felt as if he was starting all over, claims he had the most fun the first few years of owning his own business because he was excited about the opportunity our industry offers. Those exciting opportunities are once again becoming a reality for individuals who are willing to innovate, listen to the needs of their clients and offer meaningful solutions. Many new and veteran lease originators will take advantage of the challenges and opportunities which are presenting themselves and carve out new niches and financial rewards. -------------------------------- Please let me know your thoughts, suggestions or ideas. scott@wheelerbusinessconsulting.com or 410-877-0428 . Sales Makes it Happen articles: http://www.leasingnews.org/Legacy/index.html

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Classified ads---Help Wanted

Sales

Sales San Clemente, California The iFinancial Group is looking for highly motivated individuals with experience originating equipment lease transactions .  We offer a relaxed work environment, provide leads and offer above industry standard commission. Call Todd Clark 888-852-5155 x223 email: tclark@ifinancialgroup.com Ten years providing financing nationwide

www.ifinancialgroup.com

VENDOR SALES SPECIALISTS LEASING SALES PROFESSIONALS Like selling vendor programs and large transactions? Enjoy international financing programs? Prefer the advantages of a commission only environment with the security of health and welfare benefits? CLICK HERE to find out how to have fun again.

Help Wanted ads start at $500 for 21 days. Logo and company description are free, as well as clicking from the ad to a full job description. You can submit your own ad or have Leasing News design one for you.

It is also our policy to place "help wanted" ads above the news edition headlines. This position is not available as a paid position, but appears on the top of the news edition in a rotation basis.

Contact: kitmenkin@leasingnews.org

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Letters-We get eMail
(Primarily in chronological order)

"I appreciate your thorough articles about HL Leasing. Unfortunately, I am one of their investors.

"I have a question for you and need your expertise and advice.

"I am invested in the following other leasing companies: Cypress Equipment Fund 12 &14, LLC; Icon Capital Corp; and SCI Capital Group. Who do you recommend that I contact for an independent assessment that these funds are legitimate. I have not had any trouble with the investments but I could have said the same for HL. I was invested with them for 15 years and they were 'solid' right until they fell off the cliff.

"Thank you for your assistance with this."

(An HL Leasing Investor)

(ATEL Capital, Cypress Equipment Fund 12 &14, LLC; Icon Capital Corp; and SCI Capital Group are quite different, heavily regulated, audited by outside large firms.

(You should consult your broker to whom he recommends for a second opinion, perhaps a few names.

(The relationship with a broker is like that with your personal physician. If you have concerns about the first opinion you got, go get a second one from another licensed practitioner.

(That said: there is NO WAY for a concerned party to ferret out a leasing fraud. All leasing frauds are based on non-existent equipment. A guy would have to try to get an estoppel certificate from every lessee PLUS review the terms of every lease to prove the portfolio was there. No one gets that access, no one.

(Each brokerage house conducts abbreviated due diligence, that's some comfort.

(The SEC monitors the accuracy of public statements including the offering documents, that's some comfort (note SEC does NOT verify the existence of a portfolio so don't overstate the value of this).

(Accounting firms verify the statements, if it is an honest firm that's some comfort. Not the same as verifying a portfolio.

("Public" sponsors (those large enough to be required to file 10Qs) are highly unlikely to be a fake, there are too many people looking at it. The frauds tend to be sole practitioners who have the authority to keep a secret to themselves, Madoff, Ponzi himself, Otto, Bennett, Judah, etc.

(In conclusion, you don't have any redemption rights anyway so you are likely stuck and they are likely fine anyway. They are not HL Leasing or Excel Financial. Not even in the same league in any way. Editor)

(This is a reverse as originally Leasing News was seeking a current photograph and more information on Mark Sullivan, why he joined Time Payment. The photo was received after press time, but thought we should run it and got his permission to print his email response. editor)

"Next time you gotta use my new "skinny" pictures….dropped 40 lbs over the last year by not eating after 8pm…that is all it took…

"I made the move because of the opportunity to grow this. Bank Lessors have been TARP'd, and Leasing Companies are seeing funding/credit tighter than its been since the 70's and must add more value to their Vendor Relationships to survive. TPC is the solution, Time Payment is not a competitor to Leasing Companies, we are an adjunct to them. Leasing companies are not set up to handle tiny deals, and only do them as an accommodation in hopes of seeing larger deals. TPC is the opposite, TPC's whole model is lots of tiny deals that nobody else wants, and TPC has a 20 year time tested model for surviving in this space.

"Time Payment Corp works with Leasing Companies as a private label referral solution for micro-deals $500 dollars (yes, dollars) to $15,000 (yes, dollars!) and immediate turn-around sales expectations. Payments are up to 60 mos. Time Payment's unfair advantage is a tested model for doing start-ups and earlier stage entrepreneurs that need to conserve cash by matching monthly revenue to payments.

"The unfair advantage is that TPC can approve startups without recourse to vendors. This is unheard of in traditional leasing companies. TPC is more a technology company, and while the ultimate contract ends up as a lease, the real business is to provide Equity like funding where the collateral is only the equipment and PG. Plus it is fast, consistent approval model and the Vendors are funded fast. And we will go as low at ($500) five hundred dollars on an app only basis. I am very excited. "

Mark Sullivan, Time Payment

Mark J Sullivan
Corporate Vice President
Time Payment Corporation
(e)Mark.Sullivan@timepaymentcorp.com

(New Hire/Promotion notice:
Mark J. Sullivan appointed Vice President of Sales, TimePayment, Woburn, Massachusetts. He previously was Corporate Vice President, Wells Fargo Vendor Finance. Prior to that he was senior vice president CP&S Capital. Prior to joining CP&S Capital, he served as Corporate Vice President for Fleet Global Vendor Finance, , where he was instrumental in funding over $850 million of new business through vendor program relationships. He was named highest individual profit producer for the corporation during four of his 10 years at Fleet, and developed creative new financing programs in diverse industries including IT hardware, software, energy services and telecommunications. Earlier in his career, Mr. Sullivan served in several finance, lending and treasury positions with The Bank of New England and Chase Manhattan Bank.

---------

"John Zinke, the former General Counsel for IFC Credit Corporation who planned and implemented their NorVergence litigation strategy, is no longer with the company. IFC is providing no information on whether his termination was the direct result of the NorVergence settlement, a deal that some at the company consider to have been a disaster. Oddly enough, Mr. Zinke still identifies himself on the Illinois ARDC attorney search web page as an attorney for IFC.

"Thought this piece of trivia might make an interesting tidbit for your publication."

(Name With Held)

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Andrew Corsi
Senior Vice President
212.575.2465
Sterling National Bank
500 Seventh Ave.
New York NY 10018

Andrew Corsi is back from a five week hip replacement, anxious to get
more leasing going 212.575.2465 or andrew.corsi@sterlingnationalbank.com
http://www.sterlingbankleasing.com/

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GE Slogan

GE-wiz…we didn't think it could get this bad!"

Ralph P. Mango
8502 Tysons Ct.
Vienna, VA 22182-5019
cell - 732-642-5008
home - 703-288-3127
ralphmango@hotmail.com

GE Slogan Contest Winners
http://www.leasingnews.org/archives/February%202009/02-04-09.htm#contest

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Your CLP 2009 Board of Directors at the NAELB Conference at the Red Rock Casino in Las Vegas, Nevada.

Back row. Chris Walker, CLP; Cindy Spurdle; Rosanne Wilson, CLP; Paul Nibarger, CLP; Joe Bonanno, Esq, CLP
Front row. Vicki Shimkus, CLP; Theresa Kabot, CLP; Bob Teichman, CLP
Not Pictured: Nancy Pistorio, CLP; Rob Crivello, CLP; Kevin Clune,
CLP; Larry LaChance, CLP; John Rosenlund, CLP
http://leasingnews.org/PDF/CLP%20Circular%20May.pdf

"Kit, I know you have always been supportive of the Foundation and a believer in the program and we thank you for that."

Cindy

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Fred McDonald

"As a long time reader of Leasing News, I am most appreciative of your journalism and reporting. It is my first To-Do-Action of the day, even before I read the sports section. I use the archives all the time.

"I am also pleased to sign-up once again under the UNICYN name. Thank you.

"Best Regards,"

Fred MacDonald
Unicyn Financial Services, LLC
Phone: 201-669-4700 ext. 208
Fax: 866-521-6320
www.unicyn.com

One of the Three Amigos
http://www.leasingnews.org/archives/May%202009/05-20-09.htm#amigos

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"Good day Sir,

I wish to use this opportunity to express my gratitude to you and your wonderful team at Leasing News.

"I am a Leasing correspondent for a weekly paper in Nigeria and I find your briefs and releases very useful and Educative.

"The leasing sector in my country has been experiencing tremendous growth but there exists a void in information.

"Thank you for being there for me and aiding my research work, I always gain from each subscription of leasing news that I receive by email."

Yours sincerely,
Ejiofor Calistus

---------

"I would like to subscribe to leasingnews.org. I have a suggestion the site I visited does not have RSS (really simple syndicate), hence I would request you to enhance the Website that has RSS feeds."

Regards

Dhinesh Kumar

(Joining our mailing list is like getting a RSS. When we have a breaking story, we send it out to our mailing list. We may note it in the "on line" news edition or reference it in the next issue. In reality, we try not to send out but three news issues a week, as most news can wait for the next edition. editor)

---------

"Good afternoon ALL at K12 CDW

"You think you can close more prospects with $0 down and 0% for the first year?

"We have several payment options to help accommodate your clients' budgets.

"Please call if you have any clients looking to get approved.

"I look forward to earning your business and trust. Have an awesome week! "

**** ******
Balboa Capital Corporation
Account Executive
Vendor Services Group
tel.949-553-3474
fax.949-399-3174
****@balboacapital.com

Our business is built from satisfied clients and Integrity is what we stand by!

(Leasing News has no comment at this time. editor)

---------

"Interesting developments in the Dental, medical and Vet financing business. Bank of America Practice Solutions is making a serious effort to buy all the business in multiple ways. It's nothing new and has been going on for a few years since Bank of America bought the division from MBNA.

"They are buying the business is by bribing equipment reps and construction reps for referrals. This has been confirmed especially in the dental business where Patterson and Henry Schein reps are going to serious lengths to accept these fees. Despite being asked NOT to accept bribes, these reps are being advised by the Bank of America reps to establish corporations so that bribe money doesn't get reported personally to them. Other ways include paying the reps spouses. Even paying third party companies (i.e: contractors, designers, marketing co., etc) then asking theses companies to payout the reps so it's untraceable."

( Ricky L. Â Â )

(Referral fees are common and published by most leasing companies as to what they pay. Often they are similar to brokerage commissions. Often they are paid to the company itself and then disbursed to the sales manager and sales personnel. It has been common for gifts and money to sellers perhaps for two thousand years. GE cut it off when they acquired some companies and then lost the dealers. It is a way of life. Live with it. Editor)

---------

"Regarding Benny Judah and Excel Leasing: I sincerely question your independence and absence of bias.

"My father was Benny Judah's mentor; he gave Benny his start; he was a believer in Benny's ability and integrity. In fact, he was so confident he gave him a trusteeship; conveyed the responsibility for safeguarding funds left my daughter, money my father intended for her college education. These funds are now held in receivership; it is a trust frozen, leaving my only child, a senior in high school, without the ability to attend any college next fall, much less the one she'd been accepted on partial scholarship (she does not qualify for financial aid while her trust resides with the Receiver. Unfortunately, I relied on Trust and do not have the means to raise $70,000 Benny stole/lost)

"Ironically, my father's generosity paid for Benny's college education---the same generosity he intended for my daughter. More ironic, is my dad also gave Benny the means to choose integrity or greed. If he were still alive, I know he would be more disgusted than I am.

"My request is this: before you publish any more anonymous or public defenses for Benny Judah, consider the real lives and the real damage he has created. If Benny has no regard for the grandchild of the man who gave him his start, that's a human characteristic worthy of contemplation---in my case, it's a feeling of definitive contempt and disdain."

Sincerely,
Sally Durham, daughter of Pete Durham

(Leasing News needs to print all sides, not just one side. We have never heard from Mr. Judah only the indictment. What you are referring to is from brokers who said they did business with him; nothing more, and found the company easy to work with.

(Leasing News will be following the story and finding out if he is guilty or not.

(We try to expose all fraud and crimes in the equipment leasing industry.

(Please keep us informed. Editor)

"Since you need to print all sides, it appears you now have an opportunity---I'll check back. I will also keep you posted. This is much bigger for me than Benny Judah. My tenacity is about my daughter and my father---preserving her future and his will." Sally

(SEC froze his company assets and accused 50 year old Benny Judah of selling some $40 million in unregistered securities between January 2006 and March 2009 that he was using for "day trading." They also claimed his stating in literature to investors that he had over 4500 leases with receivables from the leases at $15 million earning 19.8% was "fictitious." May 6 the receiver was granted the motion to hire the accounting firm of Bolinger, Segars, Gilbert & Moss LL to perform accounting services. May 21 a second motion to take more than one deposition of Defendant Benny L. Judah was granted. editor)

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(First New Aggregate "On Line" in Years. I could not pass up this press release, especially when they have President Obama on the front page. This is really hustling. The press release actually made me laugh out loud. You know, we need more of these in these days of nothing but bad news. Editor)

www.PickYourlease.com

Austin, TX,-- The world of Equipment Financing is taken by storm by PickYourLease.com, a new service that provides a unique and revolutionary approach to people across North America looking to lease or finance their equipment.

Usually people have no choice but to go through services that are biased to one lender or another but never before has there been a service where the client was matched with the best possible lenders based on their respective criteria, thus ensuring the Customers will receive the best deal possible for their type of equipment and profile.

What makes PickYourLease.com unique is that it uses a simple three step process which is 100% Online, 100% automated and is done without the customers having to give out their confidential information like their SSN thus preventing multiple credit checks.

It is also distinctive on another front given it's associations with specialized equipment journals and retailers who are using the system to offer financing to their own customers while making a commission on the actual deals.

Here's a quote from the president and founder Dan Courville himself:

"… our system is unique and revolutionary because we are an online workplace where pre-qualified businesses from all over North America connect with pre-qualified equipment Leasing companies to get the best competitive Lease Financing. As the first exclusive online equipment leasing referral service, we help businesses succeed by connecting them with equipment leasing companies that match the proposed request."

In summary here's what makes PickYourlease.com so unique:

· Customers receive, anonymously, multiple targeted offers to their equipment leasing/financing request.

· Lenders get a continuous stream of targeted leads at a fraction of the usual cost

· Retailers increase their bottom line by improving their closing ratio while adding a new source of income to their business

For additional information please contact them or visit www.PickYourlease.com and see for your self what the fuss is all about.

About PickYourLease.com

PickYourlease.com is not a leasing Broker nor is it a lender in any way. It is an exclusive equipment leasing and equipment finance referral service for equipment buyers from Canada and the US looking for equipment leasing or equipment financing by providing direct access to pre-qualified lenders that have specifically identified their target markets.

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Quick Medical Launches Medical Equipment Lease Program

The demand for new and/or additional medical equipment continues to rise among heath care facilities. Quick Medical has recognized the need to offer hospitals, medical clinics, and other health care facilities the option of leasing new and/or additional medical equipment a number of medical practices could possibly afford to pay cash for additional or new medical equipment, but the question is why?

versus paying cash or long-term high interest rate financing. A number of medical practices could possibly afford to pay cash for additional or new medical equipment, but the question is why?

Snoqualmie, WA -- With the continued fluctuations in interest rates, slowing of the economy, and competition for new patients, a number of hospitals, dental and medical clinics are struggling with reduced cash flow and the dilemma of how to purchase new or additional medical equipment to meet the needs and requests of their patients.

"The medical industry continues to remain strong with the constant and increasing need for health care goods and services," said Bobby Beaulieu, IT Director at Quick Medical. "For many health care facilities, profit margins and cash flow are lower and the cost of providing newer or additional medical equipment is higher. At the request of our customers, we made the decision that we would offer a new medical leasing program designed specifically for hospitals, medical clinics and other health care facilities."

One of the fastest growing and most popular ways to finance medical equipment is through a lease program. Current data suggests that of the majority of medical equipment sold to and/or financed by a medical practice, at least 50% was leased. Why pay cash for a piece of medical equipment when the business can pay nothing down and have the revenue generated by the medical equipment pay for itself?

"A number of medical practices could possibly afford to pay cash for additional or new medical equipment, but the question is why?" said Scott Hanna, CEO of Quick Medical. "A new or growing hospital, start-up medical clinic, a medical practice with little cash flow, or a practice that has experienced exceptional growth may not have the cash nor the desire to tie up money in a large down payment or long-term financial obligation. Leasing is a way to leverage money and invest it in other revenue generating ideas that cannot be financed; or the money can be saved to cover expenses during an economic slowdown."

As a national distributor of medical supplies and medical equipment since 1993, Quick Medical has been experiencing strong sales and customer growth. By adding a number of new product lines and a new leasing program, Quick Medical will provide additional value to their existing services while meeting ongoing customer requests for new products that will increase distribution channels and help to reduce overall customer cost.

"One objective of our new leasing program is to reach the existing Quick Medical customers who wish to purchase our products, but do not have the cash and/or the desire to make a large up-front down payment", said Mr. Hanna.

"We believe that with our new leasing program, a medical practice or health care facility can have the latest equipment and technology, as lease payments are often lower than payments available through conventional financing. Leasing offers tax benefits and has real cash flow advantages by eliminating the large down payments or cash outlays necessary with other forms of financing or purchase," concluded Mr. Hanna.

About Quick Medical:
Quick Medical is a Medical Supply Store offering a large selection of medical equipment and medical supplies. Established in 1993, they currently offer over fifteen thousand medical products. In addition, Quick Medical offers a large selection of medical equipment and medical supplies. They are an authorized distributor for Tanita scales, Detecto, Health O Meter, Brewer Medical equipment, Clinton Industries, Burton Medical Lighting, and many others. They also provide the widest variety of medical scales available on the Internet. Quick Medical has a large selection of health and fitness products, medical furniture, medical cabinets, medical casework, medical exam tables, medical lighting, x-ray equipment, and physical therapy products.

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News Briefs----

Brazil navy races to pull Air France wreck from sea
http://www.reuters.com/article/africaCrisis/idUSN03529997

Irwin Union parent faces NYSE delisting
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Pending home sales rose in April
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Ford U.S. sales strongest since July
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Zoellick Warns Stimulus 'Sugar High' Won't Stem Unemployment
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZMsPVTXn9I8&refer=worldwide

Windows 7 Available on October 22
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“Gimme that Wine”

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Today's Top Event in History

1965-the first Astronaut to walk in space was Major Edward Higgins White, II, who opened the hatch of Gemini 4 at 3:42pm this day, stepped out into space at a 1230-mile altitude at 3:45pm and remained outside for 20 minutes until 4:05pm, attached to the craft by a 25-0foot tether. A hand-held 7.5 oxygen jet propulsion gun operated by pressure on a trigger gave him control over his movements. ( The first human to walk in space was cosmonaut Aleksie A. Leonov, who stepped out of the Vokshad 2 spacecraft on March 18, 1965).1968-Poor People's Campaign March on Washington, DC, begins.
http://www.kcsclc.org/about.html

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This Day in American History

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Baseball Poem

This day in 1888 the famous comic baseball ballad "Casey at the Bat" was printed in the Sunday San Francisco Examiner. Appearing anonymously, it was written by Ernest L. Thayer, Recitation of "Casey at the Bat" became part of the repertoire of actor William Dwalt Hopper. The recitation took five minutes and 40 seconds. Hopper claimed to have recited it more than 10,000 times, the first being at Wallack's Theater at New York, NY, in 1888.

The Story Behind the Poem Casey at the Bat
By R. J. Brown

When George Hearst decided to run for senator from California in 1885 he realized the need of an influential organ, and bought the San Francisco Examiner to promote his political ambitions. When the campaign was over, he presented it to his son, William Randolph Hearst who had just graduated from Harvard College. While in college the younger Hearst had been editor of the Harvard Lampoon. When he went to California to edit the Examiner he took along with him three members of the Lampoon staff; Eugene Lent, F. H. Briggs, and Ernest L. Thayer. Each had nicknames -- Thayer's was "Phin." He wrote a humorous column on a regular basis for the Examiner and signed his columns with his nickname. In the spring of 1888, Thayer wrote Casey and submitted it for publication. It appeared in the Examiner in the June 3, 1888 edition and was signed "Phin" as usual. When Casey made its first appearance, nobody hailed it with shouts of joy or suspected that it would become immortal. A few weeks later, (exact date unknown) the New York Sun published the last 8 stanzas of the poem -- but signed its author as "Anon." Other than the Sun, it was just plain ignored by the public. To become immortal, everyone (or thing) needs a press agent. Archibald Clavering Gunter, an author of novels, was "Casey's" press agent. Always on the look out for incidents to base some of his novels on, Gunter, living in New York, sought and actively read newspapers from around the country on a regular basis. When he read Casey for the first time, he clipped it out to save. He wasn't sure just what he would do with it, but he clipped and saved it anyway. Many weeks later, in August of 1888, Gunter read that both the New York and Chicago baseball clubs would be attending the performance of the comedian De Wolf Hopper at the Wallack Theater in New York. Upon reading the announcement, Gunter instantly knew what he wanted to do with the clipping of Casey he had saved. Gunter approached Hopper, a good friend, and offered the poem for him to recite as he felt the baseball teams would enjoy a comic baseball recitation. Hopper agreed and recited it that night. The rest, as they say, is history. From that point forward in time, Casey become immortal -- while a good poem to begin with, it took a recital before a group of "famous" baseball players by a professional comedian to bring it to life. After reviews for Hopper's performance were published, three people came forward to claim authorship and demanded Hopper pay a royalty to use "their" poem. None could prove authorship, so Hopper kept it in his repertory. Four or five years later, Thayer, living in Worcester, Massachusetts at the time, attended a performance of Hopper in Worcester. After the show, Thayer sent a note backstage requesting to meet Hopper. Thayer gave him the rights to perform it without paying any royalties. Newspaper collectors should check their issues of New York papers for August, 1888 (exact day unknown) for reviews of Mr. Hopper's performance of Casey -- You may have an issue almost as important as the first printing of the poem in the June 3, 1888 San Francisco Examiner. Casey at the Bat
By R. J. Brown
NCSA Member #3
The outlook wasn't brilliant for the Mudville nine that day: The score stood four to two, with but one inning more to play, And then when Cooney died at first, and Barrows did the same, A pall-like silence fell upon the patrons of the game.

A straggling few got up to go in deep despair. The rest cling to that hope which springs eternal in the human breast; They thought, "If only Casey could but get a whack at that-- We'd put up even money now, with Casey at the bat."

But Flynn preceded Casey, as did also Jimmy Blake, And the former was a hoodoo, while the latter was a cake; So upon that stricken multitude grim melancholy sat, For there seemed but little chance of Casey getting to the bat.

But Flynn let drive a single, to the wonderment of all, And Blake, the much despised, tore the cover off the ball; And when the dust had lifted, and men saw what had occurred, There was Jimmy safe at second and Flynn - hugging third.

Then from five thousand throats and more there rose a lusty yell; It rumbled through the valley, it rattled in the dell; It pounded on the mountain and recoiled upon the flat, For Casey, mighty Casey, was advancing to the bat.

There was ease in Casey's manner as he stepped into his place; There was pride in Casey's bearing and a smile lit Casey's face. And when, responding to the cheers, he lightly doffed his hat, No stranger in the crowd could doubt 'twas Casey at the bat.

Ten thousand eyes were on him as he rubbed his hands with dirt; Five thousand tongues applauded when he wiped them on his shirt; Then while the writhing pitcher ground the ball into his hip, Defiance flashed in Casey's eye, a sneer curled Casey's lip.

And now the leather-covered sphere came hurtling through the air, And Casey stood a-watching it in haughty grandeur there. Close by the sturdy batsman the ball unheeded sped-- "That ain't my style," said Casey. "Strike one!" the umpire said.

From the benches, black with people, there went up a muffled roar, Like the beating of the storm-waves on a stern and distant shore; "Kill him! Kill the umpire!" shouted some one in the stand; And it's likely they'd had killed him had not Casey raised his hand.

With a smile of Christian charity great Casey's visage shone; He stilled the rising tumult; he bade the game go on; He signaled to the pitcher, and once more the dun sphere flew; But Casey still ignored it, and the umpire said "Strike two!"

"Fraud!" cried the maddened thousands, and echo answered "Fraud!" But one scornful look from Casey and the audience was awed. They saw his face grow stern and cold, they saw his muscles strain, And they knew that Casey wouldn't let that ball go by again.

The sneer has fled from Casey's lip, his teeth are clenched in hate; He pounds with cruel violence his bat upon the plate. And now the pitcher holds the ball, and now he lets it go, And now the air is shattered by the force of Casey's blow.

Oh, somewhere in this favored land the sun is shining bright; The band is playing somewhere, and somewhere hearts are light, And somewhere men are laughing, and little children shout; But there is no joy in Mudville-- great Casey has struck out.

- Ernest L. Thayer

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

http://leasingnews.org/Soduku/soduko-main.htm

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Daily Puzzle

How to play:
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Refresh for current date:
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See USA map, click to specific area, no commercials

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Traffic Live---

Real Time Traffic Information

You can save up to 20 different routes and check them out with one click,
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