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Wednesday, March 31, 2010

(1965 Landmark Album)

Bandleader/Composer-Arranger/Trumpet Player Herbert "Herb" Alpert born March 31, 1935 Los Angeles, California. Perhaps best known as Herb Alpert's Tijuana Brass; eight Grammy Awards, fourteen Platinum albums and fifteen Gold albums. As of 1996, Alpert had sold 72 million albums worldwide." The Lonely Bull," "A Taste of Honey," "This Guy's In Love With You," ""Rise," Ironically, no one in Alpert's band was actually Hispanic. The band debuted in 1965 and quickly became one of the highest-paid acts then performing, having put together a complete revue that included choreographed moves and comic routines written by Bill ("Jose Jimenez") Dana. ("Spanish Flea" and “Tijuana Taxi” are my favorites.) He was also the co-founder of A&M Records and founder UCLA Herb Albert School of Music Faculty.


 Bulletin Board Complaint
Business Direct Capital, Carlsbad, California
 Bulletin Board Complaint
Business Direct Capital, Carlsbad, California
  Classified Ads---Credit
 Letters?!---We get eMail!!!
  Classified Ads---Help Wanted
Leasing Conference---ELFA/NAELB Up-dates
 Sales makes it Happen—by Linda P. Kester
  “Never Give Up!”
 CIT Closes New $1 Billion Funding Facility
  Unlicensed Stock Promoter Sentenced to 4¼ Years
   MD promoter of herbal product Daniel Indicted
  Herndon, Virginia---Adopt-a-Dog
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 Rain Still Threatening Flooding, Records in Northeast
  President John Dickson leaves Frontier Bank suddenly
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Bulletin Board Complaint
Business Direct Capital, Carlsbad, California

"I have a complaint about a company call Business Direct Capital out of Carlsbad, California (Richard Ehmke) We filled out a web app and was contacted by this company they said they could help us with a lease on some concrete curbing equipment. We filled out their app they called back and said no problem they need a 1st and last and a doc fee and they could get done they sent us a payment, terms and we through they had it set up so I call back and said I was not sure about sending this much to them ($2,358.00) they said as soon as they received the money they would send out the papers to be signed and we could get this done. We said OK and let them deduct the cash from our acct. (this was in March 2009.)

“After about 2 months with no lease we said we wanted our money back they said they would keep $1600.00 if we did, they needed more time to get a lease for us (after they as much as told us they had one already with a payment and terms then received the money and it changed) we gave them a few more months no lease.

“Rick Ehmke said give him till 10-15-09 so we did he called and left a message on my phone saying he had a lease at the org. terms (total amount funded for the original terms) on the 16Th he e-mailed me a new set of papers wanting another $5566 down and 2 different leases that would be a total of $7924.00 down for a $ 21,739.00 lease we said no that was not the org. agreement (his contract) he said it was we have copy's of every paper every e-mail and recordings of them saying org. terms .

“They broke the org. contract by the amount down, payment, and they even broke the time their contract says 120 days they could not do it in 6 months. We made contact again and Rich Ehmke he cursed at Cindy my partner and hung up."

Stephen Potts
Midwest Industrial Coatings
107 Mueller Lane
Waterloo, Illinois 62298

This was a question to Richard Ehmke at Business Direct Capital:

"I don't understand, and perhaps the others did not, too.

"Your agreement was not for 50%, that was an offer. Whether they accepted it or not, had nothing to do with the original agreement. That is the legal agreement."

His Response:

"Of course you don’t Kit – in my professional opinion, you never have sincerely understood anything in this regard (to the side of the broker), as your motives (with other leasing brokers/companies) are unfortunately, in our opinion (and the opinion of several other equipment leasing brokers in the U.S.) biased, not “un-biased” as you claim. You’re in the business (American Leasing – Los Gatos, California) for profit, which by definition, you are a competitor but you don’t see that as being a conflict of interest.

"Our agreement states (which has been enforced in California Superior Court) that ANY amount approved, up to the maximum amount will be accepted by the client, thus the reason I explained this to you. The client was a significant credit risk – they were declined by several sources you have done business with. The security deposit was FULLY REFUNDABLE to the client upon making all payments OR would go towards the final payments of the lease agreement. What part of this “do you not understand?” Last I have checked, you are not a licensed attorney in the state of California, nor are you a judge in the state of California, however you post your opinions even though a court of law has upheld our legal agreement (Network Services Integration v. Advanced Innovations, Inc).

"Concerning your comment on ‘Gypsies’ I am a small company, not associated with any other leasing company or broker in Southern California or other location within the U.S., thus we are NOT part of this group, and we have never operated in this manner.

(This is in response to the complaint that follows. Editor)

"Concerning Mr. Mann, there are current legal issues in which our counsel has advised us NOT to comment on, thus we will follow their request. Mr. Mann violated the legal agreement in which he signed, we provided the terms to the penny he agreed to, then as previously stated to you in this matter) had received a better deal after the fact from the manufacturer, and used the 'ACH' card to try and maneuver out of the agreement.

"The BBB has proprietary and biased issues, with their rating system – as an example, if a company no longer is a member OR they elect not to pay the BBB to renew their membership as an accredited member, their grade is AUTOMATICALLY downgraded 2 positions (thus if a company has an A- rating, they would then be dropped to a B rating – for no reason other than not renewing). Our company could no longer afford to pay the BBB annual fee, thus we were penalized. In addition, the BBB does not verify methods of company statistics. There is a company based in San Diego, that you are VERY aware of with over 150 complaints that had an “F” rating with the BBB. Suddenly, that were changed to an “A+” rating (with the same level of complaints) based on false information they provided to the BBB (which was not verified). And you show them listed on your website under BBB: Rating Leasing Companies. Thus it creates a biased and un-level playing field for others (like our company) to compete and be compared unjustly.

"When you print your story and opinion, we ask that our comments, respectfully, are printed in their entirety listed in this email to show our opinions, since your site is truly un-biased."

Rich Ehmke

Part of this response concerns a second complaint, which follows this complaint. To answer some of these questions:

While not very active at all, American Leasing remains a member of the National Association of Equipment Leasing Brokers and supports the programs and success of the organization. At one time the company belonged to all, but wants to remain a member for the group that does the most for brokers.

Readers of Leasing News have had the opportunity to see this answer several times, plus it has been addressed in other such complaints and lawsuits. First, almost all the lessees in 40 years were within one hour driving time, mostly in Silicon Valley, where we met the lessee and had the documents signed in front of us. Any competition was local, not out of the immediate area.

Eight years ago I started to wind down the company, downsizing, moving it three times to smaller offices, and almost three years ago, August, 2007, closed the office and moved into the house. American Leasing has no employees. It wrote one lease last year for a long time client. It wrote maybe six or seven the year before. Basically retiring at 65 three years ago as American Leasing has turned out to be a good decision in light of the industry today.

It is Leasing News' role in Bulletin Board complaints to get both sides, try to resolve them, as an "ombudsman" or "action line" would do, and if not resolved, to determine if they were "legitimate" in the oponion of the editor, to post the complaint to let reader's decide.

As to being "un-biased," when a writer signs his name to a column, he then is letting readers know that he is able to express an opinion and therefore to be "biased." Un-biased to news means being fair to all parties and giving all sides the opportunity to express themselves.

Kit Menkin, Editor

Copy of "Master Lease Agreement":

Business Direct Capital BBB Report: C

Does not appear to be a member of a leasing association.

No listing under Mr. Ehmke's name or company are found being licensed under the California Finance Lenders Law.


Bulletin Board Complaint
Business Direct Capital, Carlsbad, California

July 16, 2008

“I needed to lease about $275k worth of equipment. $85k for a truck, $140k for a specialty trailer and $50k for video screens. I bid the deal to numerous brokers that I later found out was a mistake. Who knew shopping money was a bad idea? The best deal was a company that had an ‘F’ BBB rating, so I went with number 2.

“I signed two ‘Master Lease Agreements’ with company 2 after I had a ridiculous clause removed stating that I would pay for all legal costs theirs and mine regardless of fault. The first one for the truck signed on 12/18/08 and was completed with various difficulties on 2/3/08. It took so long that I had to pay cash a full month earlier and get reimbursed by Country Leasing. I should have leased from the dealer.

“The second deal for the trailer started late 12/28/07 and I did not get a valid deal till 3/12/08. All other proposals were for amount exceeding those set forth in the Master Lease Agreement. The one deal presented on 3/12/08 offered such an egregious ACH requirement that the lease broker actually offered to cover any ACH discrepancies out of his own pocket. I appreciate the sentiment but a bad deal is still a bad deal. No other offers were presented. ACH is not a deal killer but unfettered access to my account is a problem and not part of the Master Lease Agreement. Now after 6 months they will not return my 1st and last month’s security deposit totaling $7285.00.

David Mann
Jumbo Screen
Thousand Oaks, California

There were emails and discussions regarding ACH, which was not including in the original agreement. After months of going back and forth with both parties:

October 9, 2008

“Due to the turmoil in the credit markets, a change in specification to purchase a much cheaper screen and my available credit line(s), I intend to complete the purchase with existing credit facilities by year’s end. I appreciate (I really do) the time and energy that you have expended in order to get the trailer deal done and have a partial understanding of the financial predicament that this places on you. We completed one transaction. To attempt to force the issue on the second deal seems pointless in the light of today’s wide-spread financial mismanagement, but that seems to be the way you are poised to play it out. Please plan on returning the deposit of $7,285.00 so we can both move on.”

David Mann
Jumbo Screen
Thousand Oaks, California

At this point, Mr. Mann asked Leasing News to hold off, as he was talking with the Better Business Bureau, who was trying to resolve the complaint. After several months, Mr. Mann said Business Direct Capital had agreed to resolve the complaint and make payments to him regarding the deposit.

January 23, 2010

“I meant to update you on this...Mr. Ehmke likes to bully people with threats of litigation. In order to expedite and avoid getting only the lawyers paid, I chose to arbitrate via the San Diego Better Business Bureau. My goal was to knock down his BBB rating in which I relied on in choosing him in the first place, and then take that ruling to court if necessary.

“The arbitration was continually pushed back and was finally resolved late last year. The fact that Mr. Ehmke was not credible was well documented thus the arbitration hearing was short and sweet. He successfully delayed payment as well. Even though I was forced to pay in advance for the (2) leases as well as pay in advance for one of the vehicles in cash prior to completing the lease, the arbitrator granted him a year to make payments. So far I have received two payments.

“The BBB quite clearly is protecting the dues payer with an even clearer disregard for consumer protection. Up until recently Business Direct Capital enjoyed an A- rating. After 9 complaints in the last 12 months, the BBB has knocked him down to a B+. The BBB chapter president promised me that if I can prove BDC or Mr. Ehmke violated state law that he would lose his accreditation. I presented evidence that proved that to be the case and the BBB president proceeded to tell me that she is not a judge nor jury. I have referred the case to the California Department of Corporations whom has started an investigation.

“Caveat Emptor is still the rule. I did, what I thought was, due diligence. Consumer protection is non-existent. Perhaps if enough people get taken advantage of, the lenders will stop providing the Rich Ehmke's of the world a source of funding and facilitate them to find other lines of work. In the mean time he is going to make it difficult for the respectable in your industry to make an economic recovery due to lack of credibility.”

David Mann
Jumbo Screen
Thousand Oaks, California

March 29, 2010

“It appears Mr. Ehmke has yet another new gig. I called California Department of Corporations to inquire about my complaint. They tipped my off to this:

“Mr. Ehmke made 3 restitution payments, and is currently in default for the 4th payment for March.

“California Department of Corporations – Enforcement Division has an active investigation in progress.”

David Mann
Jumbo Screen
Thousand Oaks, California

As stated in the first complaint above, the response to this second complaint is in the email above (First Complaint) from Mr. Ehmke.

Business Direct Capital BBB Report: C

Does not appear to be a member of a leasing association.

No listing under Mr. Ehmke's name or company are found being licensed under the California Finance Lenders Law.


Classified Ads---Credit

Atlanta, GA
9 Years experienced small ticket Credit Analyst seeking full-time position with equipment broker/lessor. Resume available. Email at or
Orange County, CA
10 yrs. exp. middle market credit underwriting/syndication/collections. All collateral. Seeking full-time position with equipment broker/lessor. Resume available

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

Other e-Mail Posting Sites:


Letters?!---We get eMail!!!

Clarification: Southern California Leasing Gypsies

“I thought your piece on the broker/lender model was one of the most interesting I've seen in your newsletter in a while. There were valid points made on every side of the argument. My opinion is that this is and will continue to be a harsh lending and leasing environment for those who choose to invest all their energy and resources in short-sighted bait and switch, turn and burn, smash and grab, and steal and run strategies, as well as those who value volume and gross margin above all else.

“However, I think right now there are EXCELLENT opportunities for those who:
- value their long term vision and reputation over short term profits.

- are honest and upfront with their prospects, applicants, lessees, vendors, and funding sources about all news both good and bad.

- are interested in building a solid book of vendor, return end user, and referral business.

- take their fiduciary obligation with any upfront fees or deposits seriously.

- have some knowledge about the industries they are financing.

- know the whole story on the businesses they are financing, not just the personal credit scores of the owners.

- know the equipment they are financing (usable life, remarketability, value retention, whether it is revenue generating or cost saving, etc.)

- can make recommendations as to what kind of lease or finance agreement clients should choose based on how it would benefit their tax and cash flow situations.

- continue to educate themselves and their clients and treat this like a respectable profession, not a back alley dice game.

- aren't afraid to meet some of their lessees and vendors face to face when possible and look them in the eyes and shake their hands.

- stay in constant contact with their funded customers

My Return of Saturn is drawing near and so is the return of good old fashioned equipment leasing. Keep up the good work.

Best Regards,
Justin Smith
Equipment Finance Specialist
Southern California Leasing, Inc
Over 18 Years of Customer Service!
Tel: 714-573-9804 Ext. 109
Cel: 562-318-8816

“Good article on Southern Calif. Leasing. I think you do a great service to the leasing industry by letting us know these things. Keep’em coming. Thanks.”


“Who are these companies? I don't think there is any confidentiality here. Crooks are Crooks.”

Phil Lieber

(Many of those in Southern California are aware of the companies, as well as funders, who accept their business today, but believe as long as they do their “due diligence,” it is all right to do business with them. Liability reasons prohibit us from printing their names without specific signed complaints. Editor)

“I have been a fan of Leasing News since the 90's when your e-mail news "blog" was considered blasphemy and "cult" literature within AFG (American Finance Group) and PLM. They are gone, equipment leasing is correctly identified as "finance" and you successfully persist as an informative force in the leasing industry. The texture of your e-mails has evolved to embrace many subject matters beyond leasing and as such has taken on the complexion of an informational document. From your respect for our armed forces to wine choices - you have accomplished a broad spectrum forum. Keep up the good work.”

Dave Fisher - ex leasing junky

View on the Economy
 by Brad Harmon, CLP – President, First Star Capital

“We have been running the monthly First Star Capital Newsletter since early '06 and it has gotten progressively better IMO each month. Also – the distribution list has grown significantly as I am sure you can imagine. The historical NL archive is accessible at:

“I appreciate your comments and printing it in Leasing News.”

Brad Harmon, CLP
First Star Capital - President
P: 800-604-4817 F: 925-262-8244
3050 Citrus Circle, Suite 222 | Walnut Creek, CA 94598 |

NEFA Dallas Conference
 by Bernie Boettigheimer, CLP

“Kit and Bernie,

“Bernie, it was great seeing you and everyone this weekend in your home town. Dallas is a wonderful city with so much to offer. Thank you also for the nice article on the NEFA spring conference in Dallas this weekend. I agree it was a “home run” as far as speakers and content. Having an opportunity to sit a lunch with you, Col. Tom Schaefer, Dave Schaefer and the others is something that I will never forget…..what an honor. Thanks for also providing the wonderful pictures it really helps memorialize what took place. It also, never hurts my feels to have my picture taken with Debbie either …you always look better when your next to an attractive lady.

“Kit, I along with all NEFA members appreciate the excellent coverage Bernie and Leasing News provided this weekend.”

Randy Haug
Sr. Vice President / Partner
LeaseTeam, Inc.
President, NEFA

“Thank you for the reports on Brican America. We signed the contract because we had the out clause stating Brican would take back the lease. The sales force assured us that we were making a smart decision and even docs who lawyers look at the contract had said it seemed good. Bottom line is the company has no new money coming in, by now has put the money in someone else’s name and we will get nothing back by negotiating with them one on one.

“I sent in my thousand dollars because the only way you’re going to get out of this contract is a class action suit. I need to work harder in my practice to come up with that money but it’s the only way out of the lease. My choices were either come up with one grand or keep paying 22k.

“Thank you for writing about our situation.”

(Name With Held)

“Spammers have automated programs (harvesters) that sweep websites for email addresses. That is why a lot of times you will see the email address spelled out phonetically, or as a picture (something the program can’t read), rather than the spelled out email address. Maybe you should not print email address in Leasing News.

“Here are some links that go into it with more detail.

(name with held)

(As this party requested, I have not printed his email address or name. When it is appropriate, and/or request, we will continue this practice, but in most cases readers like to know who said what and often like their email address so they may correspond.

(As to culling email addresses, there are lists and robots that find all names, and it has been going on a long time. The recent trends are emails mostly emanated out of China. Spam catchers and having safe emails only is also a trend. The latest is using your own email address to send out spam, as the address has been cleared by your friends. Editor)


Sales makes it Happen by Steve Chriest
  Focus On Results

“Steve's column had a simple but extremely fundamental message today. Salespeople constantly confuse activity with results. A few years ago I lost a very large portfolio purchase opportunity - $400MM. When I was informed of the decision to 'pass' on the opportunity, I complained that ‘we all worked so hard to get to this point and now we have nothing to show for it’.

“The EVP who had just delivered the bad news to me responded by saying, ‘We don't get paid to work hard. We get paid for results.’ As painful as it was to accept at that point in time, I'm reminded of the same situation today after reading Steve's article.

Randy Eyers

“And from what I recall when I worked there from 1972-1982, Judd Hirsch was a collector of medical accounts since the 60's, for the then named law firm of Hayt, Hayt, Tolmach & Landau when they officed on Wall St, New York, NY before moving to Great Neck. He was a struggling actor until he started to click on TV.

Ralph Coppola
Agency Manager
GE Capital
Transportation Finance
T 469-586-2372 (Direct)
T 866 521-9159 (Toll Free)

“I really think that we are coming into a new era of equipment finance. A few years ago the fruit was hanging low and plentiful, so IMHO there were a bunch of people who didn't give a damn working in the industry. Dialing mindlessly and with no respect for how integral a part commercial equipment finance is the the growth and stability of this great nation, some of them gave the industry a perception of a nuisance industry. (i.e. long distance in the 90s).

“I don't want to get all cheesy on you, but I really think that I am doing my part to get the country back on track with every customer I help. Both the company that obtained the asset - more profitable, increase market reach, improve efficiency, etc. - and the vendor who sold the equipment. Its up to people like us because, in my opinion, there are a lot of upset unemployed or under-employed people out there who throw up there hands and wonder what the heck's happened.”

John Kammerer
Salt Lake City, UT

“I notice you have had ACC on your list of ‘Leasing Companies out of Broker Business’ for quite some time. Though we did exit the small ticket marketplace last year, we still continue to do business within the broker community through our middle market and service contract finance divisions; in fact the vast majority of our business is broker driven. Further, we are presidential sponsors of NAELB (one of only 3) as we have been for many years and actively seek new broker relationships.

I respectfully request that you remove ACC Capital Corporation from this list as our inclusion thereon is grossly misleading. We have had a number of calls from brokers, including a member of Leasing News’ advisory board and a NAELB board member, concerned that we had exited the broker marketplace. With the number of companies and funders who have left the leasing arena in the past year, our inclusion on the list is easily misconstrued. I would very much appreciate your assistance in this matter.

Please feel free to call or email me if you wish to discuss it further.

Thank you.

Kirstin Patterson, CLP
ACC Capital Corporation
Midvale, UT 84047
ph 801-233-2369

((This has been on the list since the announcement was made by ACC, and is quite explicit, too. It is not a new add:
((ACC Capital Corporation, Salt Lake City, Utah
(no longer "application only"-new $100,000 minimum)

(At the time, it was appreciated being put on the list, since the company was changing direction, but a your request, it will be removed as it has been nine months since the original announcement. Editor)

Empty Mayonnaise Jar

“Kit, someone recently shared this with me and it struck a chord. In today’s leasing industry we sometimes forget this lesson because we are so focused on the company bottom line.”

Bob Underwood
Specialty Funding
505.797.7141 ext 102
800.440.5137 toll

The story about the “Empty Mayonnaise Jar:”


“Greetings from Apple Valley!

“I recently was the concluding speaker at TEDx Greenville. I thought you might enjoy seeing my presentation, and hope that you might include it in a leasing news update – i.e. Where are they now?

“Here is the link -

I hope you are well.

“Life is Good!”

(Former Leasing News Advisory Board member Andrew Thorn who left the industry in 2002 and now is in motivational and other enterprises. Editor)


Classified Ads---Help Wanted

Leasing Industry Help Wanted


Please see our Job Wanted section for possible new employees.



Leasing Conference---ELFA/NAELB Up-dates

Leasing Association 2010 Conferences

April 13-15
ELFA National Funding Conference
Fairmont Hotel Chicago
Chicago, Illinios

Funding Source Exhibitors (as of March 19, 2010)

* AIG Commercial Equipment Finance
* Atel Capital Group
* Bank of the West
* Boston Financial & Equity Corporation
* CapitalSource, Inc.
* Century Services (USA) Inc.
* Commonwealth Capital Corp.
* Fifth Third Leasing
* Financial Pacific Leasing
* First Bank of Highland Park
* First Eagle Bank
* First Financial Corporate Services
* GE Capital Corporate Finance
* GE Capital Markets, Inc.
* Key Equipment Finance
* Kingsbridge Holdings
* MB Financial
* Peoples Capital and Leasing Corp
* RBS Asset Finance
* SCG Capital
* Sterling National Bank
*SunTrust Equipment Finance & Leasing
* Wells Fargo Equipment Finance

Non-member Attendee $1500.00
Member Attendee $750.00

April 15-17
2010 NAELB Annual Conference
Omni Hotel at CNN Center
100 CNN Center
Atlanta, Georgia

2010 Annual Conference Exhibitors

(As of March 17, 2010)

ACC Capital Corporation
Allegiant Partners Incorporated
Amerisource Funding
Bank of the West
Bankers Capital
Baystone Financial Group
Bulldog Truck & Equipment Sales
CFC Investment Company
CLP Foundation
Collateral Specialists, Inc.
Dakota Financial, LLC
Diversified Lenders, Inc.
Equipment Lessors Protection Association
Facteon, Inc.
Financial Pacific Leasing
GreatAmerica Leasing Corporation
Kent Funding, Inc.
Mar Vista Financial
Maxim Commercial Capital, LLC
MicroBilt Corporation
Monitor, Inc.
NAELB Member Benefits
Pawnee Leasing Corporation
Preferred Business Solutions
Quail Capital Corporation
Quiktrak, Inc.
TEAM Funding Solutions
Tetra Financial Group
U.S. Bank Manifest Funding Services

Attendance Fees (the brochure says all
registration needs to be in the office
by today, March 31, 2010)
---as of this date:
Broker (Member & Nonmember) $550
Funder/Associate (member & Nonmember) $700

Registration Form: NAELB%20Annual%20Conference%20Registration%20Form.pdf


Attention all women in Leasing! 
Join other women leasing professionals for the 4th Annual Women in Leasing Luncheon
on Thursday, April 15. Click here for more details and to register.

May 5-7,
AGLF/ELFA Public Sector Finance Forum
Westin Hotel, Michigan Avenue
Chicago, Illinois

Registration Fees:
On or Before April 13, 2010     
AGLF or ELFA Member    $650.00
Non-Member   $800.00
Government Registration*   $400.00 
Spouse/Companion**   $150.00
Basics Session Only ***   $95.00      

After April 13, 2010     
AGLF or ELFA Member    $750.00
Non-Member   $900.00
Government Registration*   $400.00
Spouse/Companion**   $200.00
Basics Session Only ***   $95.00

Registration rates include admissions to all sessions,
refreshment breaks, the receptions, and continental breakfasts.

* Available to employees of state and local government entities only

** Guest registration is open only to those who accompany a registered

Registration form, who is attending by name or company,
and more about the conference, please click here:

September 24-25
2010 NAELB Eastern Regional Meeting
Atlanta, Georgia

October 15-17
NEFA Funding Symposium Fall 2010
The Ritz-Carlton, Buckhead
Atlanta, Georgia

October 24-26
ELFA 49th Annual Convention
Boca Raton Resort & Club
Boca Raton, Florida

November 12-13, 2010
NAELB Western Regional Meeting
Costa Mesa, California


To view Leasing Association Events-Meetings Open to All, please click here


Sales Make it Happen

"Never Give Up!"

By Linda Kester

People have told me that I'm a natural born salesperson. In fact, one of my performance reviews stated, "Linda could sell ice to an Eskimo."

That's garbage!

I started my career selling photocopiers. The ten months I spent in that job were the longest and most disheartening months of my life. I hated to prospect. My heart would pound, my hands would shake, and I felt like a nuisance. I would go out to prospect and I would end up at the mall.

I began to think I was never cut out for sales.

Then two things happened, almost simultaneously. First, a friend gave me an audio tape of The Psychology of Winning by Dr. Denis Waitley. Second, I was offered a job at Advanta Leasing Corp. Since my copier sales job was straight commission and the Advanta job offered a base salary ($13,500 + commission) I took the leasing gig.

I listened to that Psychology of Winning tape over and over again (truth be told, my car radio was broken-only the cassette player worked) The four biggest things I learned were:

1. Act enthusiastic until you become enthusiastic
2. Continually ask yourself "What is the best use of my time right now?"
3. Commit to yearly, quarterly and weekly goals.
4. Implement a calendar planning system, or a to-do system

I started to understand that if we narrow down the business of prospecting it's just one thing.talking to people. The best use of my time was to become successful at my job. To be successful I had to make myself call on vendors.

Then an amazing thing happened. I fell in love with leasing. My first day at Advanta Leasing, a fellow sales rep, John Forsythe, looked me up and down and said: "If you really sold copiers, you'll feel like you died and went to heaven in this job." You know what? It was like I died and went to heaven. I loved selling leasing!

I still got nervous while prospecting and to combat this I started studying sales techniques. To maintain my dignity I did my homework before making a prospect call. This is so much easier today with the internet. Thank God for the internet! You can get a contact name, and qualify a vendor just from their web site.

Simply stated to maintain your dignity while prospecting vendors or lessees:

1. Believe in your leasing services.
2. Gather as much information as you can before talking to a decision maker.
3. Ask everyone you talk to how decisions about leasing are made.
4. Have two objectives set before making a call. For example one objective could be to obtain their email address, a second objective would be to have them go to your web site.
5. Listen to the prospect-listen to understand-if they take the conversation to a different place than you wanted the conversation to go-just go with it. The goal is to establish a relationship.
6. Bring something of value to each prospect call. A new idea, sales tips, an interesting article or web site to visit. It's not about you-it's about them.
7. Ask them "What is most important to you in a leasing company?"
8. Make your calls with confidence and enthusiasm. I became eager and anxious to make calls because I had thought about the vendor, I studied their situation, and had some ideas I believed might be of value to them.
9. Find out what your prospects want and help them get it.
10. Never give up!

I believe I really helped my vendors sell more equipment. I was inspired to find creative ways to get difficult lessees approved. And that's what helped me succeed. I fell in love with what I was offering and I sold my enthusiasm to vendors.

Do I still get the butterflies while prospecting? Sometimes. I'm putting myself out there, and that is still a little frightening. However, I believe so strongly in my product that it's OK if they hang up on me. It's OK if they say no.

I just keep going because I know that there is an abundance of business out there and my services will be a match for lots of companies. We will create a win-win situation for all parties involved.

Linda Kester helps leasing companies obtain more volume. For more information please visit



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

CIT Closes New $1 Billion Funding Facility

NEW YORK— — CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, announced that it has closed a new $1 billion committed U.S. Vendor Finance conduit facility with Barclays Bank PLC as Administrative Agent and three additional banks as committed lenders. This new facility supplements the recently closed $667 million TALF eligible equipment securitization, which also financed Vendor Finance originated assets.

These new financings further support CIT’s lending to the small business and middle market customers it serves. The new private facility will allow CIT Vendor Finance to fund both existing assets and new originations. The revolving period of the facility expires in March 2011 and the facility has a final maturity in 2018.

About CIT
CIT (NYSE: CIT) is a bank holding company with more than $45 billion in finance and leasing assets that provides financial products and advisory services to small and middle market businesses. Operating in more than 50 countries across 30 industries, CIT provides an unparalleled combination of relationship, intellectual, and financial capital to its customers worldwide. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. Founded in 1908 and headquartered in New York City, CIT is a member of the Fortune 500.

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

Unlicensed Stock Promoter Sentenced to 4 ¼ Years
in Federal Prison on Tax Charges

Los Angeles – An unlicensed stock promoter was sentenced to federal prison after previously pleading guilty to being a part of a conspiracy to obstruct the Internal Revenue Service and for subscribing to a false tax return.

Nicholas Myles Garcia, 46, who has been in custody since his arrest in August 2009, was sentenced by United States District Judge Manuel L. Real to spend 51 months in federal prison, pay restitution of $327,980 to the IRS, and spend three years on supervised release after serving his sentence.

According to court records, Garcia operated several shell entities that he used to receive and sell shares of stock that he earned as compensation. During the years 2003, 2004, and 2005, Garcia, with the assistance of others, devised a scheme to hide from the IRS his receipts from the sale of stock he had earned as compensation for stock promoting activities.

According to court records, the tax charges in this case involve a multi-year scheme during which Garcia illegally received stock in numerous public companies. Garcia deliberately sold this stock through numerous nominees in order to hide this income from the IRS. Between 2003 and 2005, Garcia received more than $1 million in stock proceeds that he failed to report as income to the IRS. Garcia convinced several individuals to assist him in hiding his ill-gotten income.

In an effort to conceal his compensation from the IRS, Garcia would have the companies whose stock he promoted issue stock in the names of various nominees, including friends, who let Garcia use their bank and brokerage accounts to execute stock trades. Garcia used these accounts to receive his stock, sell the shares, and transfer the proceeds.

Garcia's conduct resulted in a tax loss of more than $327,000 to the federal government.

At his change of plea hearing, Garcia admitted that he signed a personal federal income tax return, IRS Form 1040EZ, for tax year 2003, that he submitted to the IRS. Garcia admitted that the 2003 tax return did not list any income based on Garcia’s stock promotion activities nor from the sale of stock. Garcia admitted that he knew that he was required to file a truthful and complete tax return with the IRS and deliberately failed to do so.

Garcia began serving his sentence immediately.

The investigation and prosecution of Garcia was conducted by IRS - Criminal Investigation in Los Angeles in conjunction with the United States Attorney’s Office for the Central District of California.

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Michael Witt, Esq.)

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

MD promoter of herbal product Daniel Indicted on
Tax Evasion, Witness Tampering, and Fraud Charges

Los Angeles –The operator of Sonrise Medical Clinic and Christine Daniel, M.D., Inc., in Mission Hills, was arraigned in United States District Court in Los Angeles on tax evasion, wire fraud, mail fraud, witness tampering, and criminal forfeiture charges detailed in a superseding indictment returned earlier this month.

Christine Daniel, of Los Angeles, a medical doctor and ordained minister for the Pentecostal Church, pleaded not guilty to the charges specified in the superseding indictment.

For the tax years 2002, 2003, and 2004, the indictment alleges that Daniel failed to report approximately $1,290,613 on the corporate income tax returns for Christine Daniel, M.D., Inc., resulting in a tax loss to the government of $438,809. Similarly, the indictment alleges that Daniel failed to report approximately $315,109 on her personal income tax returns for the same time period, resulting in a tax loss to the government of $73,895.

Daniel was previously indicted in September 2009 on charges of wire fraud, mail fraud, and criminal forfeiture stemming from a scheme to defraud in which Daniel promoted an herbal product that Daniel, and her employees, working a her direction, falsely claimed that it would cure many human diseases and conditions. These diseases and conditions included cancer, multiple sclerosis, stroke, Alzheimer’s disease, Parkinson’s disease, diabetes, and hepatitis. According to the indictment, Daniel claimed that the herbal product had a cancer cure rate of 60% to 80%.

The herbal products were promoted under a variety of names, including “C-Extract”, “the natural treatment”, and “the herbal treatment”.

The indictment details that Daniel falsely claimed she personally manufactured the herbal product according to the needs of each individual patient. Depending upon the purported strength of the herbal product, Daniel charged her customers between $750 and $4,270 for approximately one week’s worth of the product.

Additionally, the indictment alleges that Daniel tampered with three witnesses who were to testify before the grand jury.

An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until proven guilty in court.

If convicted of all the charges detailed in the indictment, Daniel faces a statutory maximum 130 years in federal prison and fines totaling $2.1 million. Currently, trial in this matter is scheduled for June 29, 2010, before United States District Judge Margaret M. Morrow.

The investigation of Daniel was conducted by IRS-Criminal Investigation, the U.S. Food and Drug Administration, and the Medical Board of California in conjunction with the United States Attorney’s Office for the Central District of California. - "Your One Stop Vendor Check"

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

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


Herndon, Virginia---Adopt-a-Dog

Breed: Hound (Unknown Type) / Labrador Retriever Mix
Size: Med. 26-60 lbs (12-27 kg)
Color: Black - With White
Sex: Male
Age: Puppy

Jake is:
good with kids
good with dogs
good with cats

Pet ID #: 2224999

Jake's story...
"Jake is an 8 week old hound mix who was born on 1/27/2010 along with his 6 brothers and 1 tiny sister. He loves to run around chasing his brothers and sister or playing tug of war. Jake is doing a great job at paper training.

"Jake will be at the Sterling Petsmart from 12-3 on April 3rd. Come see him there

If you are interested in a dog:

Contact this rescue group to adopt Jake ... <>
Rescue Group: PAWS Rescue of Northern VA

Pet ID #: 2224999
Contact: Kim Larimer
Phone: (703) 851-3010
- Let 'em know you saw "Jake" on

Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet




Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

April 12th until Noon on the 14th
Seattle, Washington
Hosted by Financial Pacific

$395.00 Paid in Advance for first person from company
$345 with each additional attendee 

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

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President John Dickson leaves Frontier Bank suddenly


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Today's Top Event in History

1949-RCA Victor introduces the 45 rpm single record, which had been in development since 1940. The 7 inch disc was designed to compete with the 33 1/3 LP introduced by Columbia a year earlier. Both formats offered better fidelity and longer playing time than the 78 rpm platter that was currently in use. Advertisements for new record players boasted that with 45 RPM records, the listener could hear up to ten records with speedy, silent, hardly noticeable changes. Remember that the next time you load your iPod.


This Day in American History

   1871---Millions of birds fly over San Francisco and darken the sky.
    1878--John "Jack" Arthur Johnson birthday.  In 1908 Jack Johnson became the first black to win the heavyweight boxing championship when he defeated Tommy Burns at Sydney, Australia.  Unable to accept a black man's triumph, the boxing world tried to find a white challenger.  Jim Jeffries, former heavyweight title holder, was badgered out of retirement. On July 4, 1910, at Reno, Nevada, the "battle of the century" proved to be a farce when Johnson handily defeated Jeffries. Race riots swept the US and plans to exhibit the film of the fight were canceled.  Johnson was born at Galveston, Texas, and died in an automobile accident June 10, 1945 at Raleigh, NC.  He was inducted in the Boxing Hall of Fame in 1990. The fl "the Great White Hope: is based on his life.
   1849 --Colonel John W Geary arrives as 1st postmaster of San Francisco.  He will get a street named after him.
   1854 - In Tokyo, Commodore Matthew Calbraith Perry, representing the U.S. government, signs the Treaty of Kanagawa with the Japanese government, opening the ports of Shimoda and Hakodate to American trade and permitting the establishment of a U.S. consulate in Japan.
   1870 - In the United States, Thomas Peterson-Mundy became the first black to vote under the Fifteenth Amendment (passed by Congress in February 1870) which required all Southern states to allow blacks to vote.
    1880 - The first electric street lights installed by a municipality were turned on in Wabash, Indiana. 1890 - Saint Louis, MO, received 20 inches of snow in 24 hours. It was the worst snowstorm of record for the St Louis.
   1895--Birthday of Lizzie Miles, popular black singer in New Orleans and Los Angeles in the 1920's and 30's, developed a style known as "gumbo French" jazz.
   1917---Transfer Day. Commemorates the transfer resulting from purchase of the Virgin Islands by the US from Denmark, March 31, 1917, for $25 million.
   1918 - Daylight Savings Time went into effect throughout the U.S. for the first time.
   1922-1922 KFI-AM in Los Angeles CA begins radio transmissions.
   1928 -- Scotch Tape is first sold.
   1929-Birthday of Liz Claiborne, founder, president, CEO and chair as well as fashion designer of Liz Claiborne, Inc., a billion-dollar corp. Her mother taught her to sew and Liz says instilled ambition in her.
   1934-Birthday of Shirley Jones, actor. After a very successful stage career in such musicals as Oklahoma! which she brought to the screen in 1955, she won the Academy Award for best supporting actress in Elmer Gantry (1960). Best known to a generation for her TV work in The Partridge Family.
   1943---Rogers and Hammerstein's landmark musical (their first collaboration) opened at the St. James Theatre on this date in 1943. (It had its world premier under the title Away we Go" at the Shubert Theater in New Haven, CT, on March 11, 1943.  Oklahoma is considered significant because it was the first musical in which songs, music, characterization and story are integrated into an emotional whole.  It changed musicals forever.  It was also the first musical to run more than 2,000 performances and to have a cast album recorded.  Agnes de Mille was the chorographer. It received a special Pulitzer Price for drama on May 2, 21944.  In May, 194, "Oklahoma" became that state' official song.
   1945-Tennessee Williams' "Glass Menagerie" premieres in New York NY.
   1948 -- J. D. Salinger's short story "A Perfect Day for Banana Fish" appears in "The New Yorker".
   1949-RCA Victor introduces the 45 rpm single record, which had been in development since 1940. The 7 inch disc was designed to compete with the 33 1/3 LP introduced by Columbia a year earlier. Both formats offered better fidelity and longer playing time than the 78 rpm platter that was currently in use. Advertisements for new record players boasted that with 45 RPM records, the listener could hear up to ten records with speedy, silent, hardly noticeable changes. Remember that the next time you load your iPod.
   1954---Top Hits
Make Love to Me! - Jo Stafford
Wanted - Perry Como
Answer Me, My Love - Nat ‘King’ Cole
Slowly - Webb Pierce
   1954 - The temperature at Rio Grande City, TX, hit 108 degrees, which for thirty years was a U.S. record for the month of March.
  1955- Chase National (3rd largest bank) & Bank of the Manhattan Company (15th largest bank) merge to form Chase Manhattan.
   1958-Chuck Berry's "Johnny B. Goode" is released. It would enter the Billboard chart six weeks later and rise to number 8.
  1962---Top Hits
Don’t Break the Heart that Loves You - Connie Francis
Johnny Angel - Shelley Fabares
Dream Baby - Roy Orbison
She’s Got You - Patsy Cline
   1962 - A tornado struck the town of Milton, FL, killing 17 persons and injuring 100 others. It was the worst tornado disaster in Florida history.
   1965-US ordered the 1st combat troops to Vietnam
   1968- President Johnson stunned the country by announcing he would not run for another term of office.
   1970---Top Hits
Bridge Over Troubled Water - Simon & Garfunkel
Let It Be - The Beatles
Instant Karma (We All Shine On) - John Ono Lennon
The Fightin’ Side of Me - Merle Haggard
   1971-THACKER, BRIAN MILES  Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Battery A, 1st Battalion, 92d Artillery. Place and date: Kontum Province, Republic of Vietnam, 31 March 1971. Entered service at: Salt Lake City, Utah. Born: 25 April 1945, Columbus, Ohio. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. 1st Lt. Thacker, Field Artillery, Battery A, distinguished himself while serving as the team leader of an Integrated Observation System collocated with elements of 2 Army of the Republic of Vietnam units at Fire Base 6. A numerically superior North Vietnamese Army force launched a well-planned, dawn attack on the small, isolated, hilltop fire base. Employing rockets, grenades, flame-throwers, and automatic weapons, the enemy forces penetrated the perimeter defenses and engaged the defenders in hand-to-hand combat. Throughout the morning and early afternoon, 1st Lt. Thacker rallied and encouraged the U.S. and Republic of Vietnam soldiers in heroic efforts to repulse the enemy. He occupied a dangerously exposed observation position for a period of 4 hours while directing friendly air strikes and artillery fire against the assaulting enemy forces. His personal bravery and inspired leadership enabled the outnumbered friendly forces to inflict a maximum of casualties on the attacking enemy forces and prevented the base from being overrun. By late afternoon, the situation had become untenable. 1st Lt. Thacker organized and directed the withdrawal of the remaining friendly forces. With complete disregard for his personal safety, he remained inside the perimeter alone to provide covering fire with his M-16 rifle until all other friendly forces had escaped from the besieged fire base. Then, in an act of supreme courage, he called for friendly artillery fire on his own position to allow his comrades more time to withdraw safely from the area and, at the same time, inflict even greater casualties on the enemy forces. Although wounded and unable to escape from the area himself, he successfully eluded the enemy forces for 8 days until friendly forces regained control of the fire base. The extraordinary courage and selflessness displayed by 1st Lt. Thacker were an inspiration to his comrades and are in the highest traditions of the military service.
   1972 - Swimmer, Mark Spitz, was awarded the Amateur Athletic Union’s Sullivan Award as 1971's outstanding amateur athlete. Spitz went on to Olympic legend a few months later, winning seven gold medals.
   1973 - Ken Norton defeated Muhammad Ali in a 12-round split decision. Ali had his jaw broken during the fight.
   1973 - A devastating tornado took a nearly continuous 75 mile path through north central Georgia causing more than 113 million dollars damage, the highest total of record for a natural disaster in the state.
   1978---Top Hits
Night Fever - Bee Gees
Stayin’ Alive - Bee Gees
Lay Down Sally - Eric Clapton
Mamas Don’t Let Your Babies Grow Up to Be Cowboys - Waylon & Willie
   1981-The 1980 Academy Awards were presented March 31, 1981 at the Dorothy Chandler Pavilion, Los Angeles, "Ordinary People" (Ronald L. Schwary, producer) won four Academy Awards at the 53rd Oscar ceremonies. Johnny Carson hosted the show from the Dorothy Chandler Pavilion in Los Angeles. Oscars were presented to a lot of ordinary people, like "Tess" and "Melvin and Howard". However, it was the Best Picture, "Ordinary People", that also won for Best Director (Robert Redford), Best Supporting Actor (Timothy Hutton) and Best Writing (screenplay based on material from another medium: Alvin Sargent). Best Actor that year was Robert De Niro for "Raging Bull" and the Best Actress was Sissy Spacek for "Coal Miner’s Daughter". The Best Supporting Actress prize went to Mary Steenburgen for "Melvin and Howard" and Best Music/Song Oscars were awarded to Michael Gore (music) and Dean Pitchford (lyrics) for "Fame" from, "Fame". A special award was given to Henry Fonda in recognition of his brilliant accomplishments and enduring contribution to the art of motion pictures.
    1985 - A reunion of stars lit up Beverly Hills, California, as ABC-TV celebrated the 200th episode of "The Love Boat". The network also honored the 1,000th guest star: Lana Turner. She was joined by Mary Martin, who was the 700th guest star to set sail on the show. Ginger Rogers was the 300th, Robert Guillaume #500 and we could go on but we won’t. "The Love Boat" had as a crew: Captain Merrill Stubing (Gavin MacLeod), Dr. Adam Bricker (Bernie Kopell), Yeoman-Purser Burl ‘Gopher’ Smith (Fred Grandy, who went on to become a U.S. Congressman), Bartender Isaac Washington (Ted Lange) and Photographer Ashley Covington Evans (Ted McGinley). Singer Jack Jones provided the vocal to the opening theme song and Ernie Anderson was the distinctive voice for the millions of network promos before each show.
    1986---Top Hits
Rock Me Amadeus - Falco
R.O.C.K. in the U.S.A. - John Cougar Mellencamp
Kiss - Prince & The Revolution
Don’t Underestimate My Love for You - Lee Greenwood
   1987 - HBO (Home Box Office) earned its first Oscar as "Down and Out in America" tied for Best Documentary feature. The cable-TV film played in a Los Angeles movie theatre for one week to qualify for the Academy Award.
   1989 - Afternoon thunderstorms produced severe weather from North Carolina to Pennsylvania. Thunderstorm winds gusted to 76 mph at Cape Henry VA. While squalls blanketed northwest Pennsylvania with up to 9 inches of snow, thunderstorms in eastern Pennsylvania produced golf ball size hail at Avondale.
   1995 - Concerned about embezzlement from her fan club and boutique accounts, Tejana singer Selena confronted Yolanda Saldivar, her recently-fired manager and first fan club founder, while they stayed in a motel in Corpus Christi, Texas. During the heated argument that ensued, Selena was shot fatally in the back by Saldivar. The bullet struck her in her right shoulder. With sapping strength, Selena ran in a panic to the motel lobby to get help. She collapsed in a pool of blood on the floor as the clerk called 911. An ambulance took her to the hospital, where she was pronounced dead about an hour later.
   1996-15th NCAA Women's Basketball Championship: Tennessee beats Georgia 83-65
   1997 59th NCAA Men's Basketball Championship: Arizona beats Kentucky 84-79 (OT)
   2000-The $345 million Pacific Bell Park at Third and King Streets, San Francisco, opened with an exhibition game between the Giants and the Milwaukee Brewers. The Giants won 8-3.


Basketball Poem


Many sizes, many shapes, and many colors
There are Jordans, and Pippins, and Pennys
There are Mashburns, and Hills, and Shaqs
There's even LJs, Kidds, and Stacks
How many shoes I wonder
Man will never know





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?



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