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Classified Ads---Attorneys

    "Leases Delivery Necessary to Trigger Business's Payment Obligation"

        Sunday Sermon---On, No! Mr. Bill!!!

            Treasury to Crack Down on SILO Deals & Traditional Leases?

                Grassley on Big-Ticket Leasing Coalition

    J.P. Morgan / Bank One Merger Receives Antitrust OK

        U.S. Equipment Lease ABS Delinquency Index Falls Below 2%

            De Lage Landen appoints Jim Curley CIO for its Americas Division

                Pawnee Leasing  appoints Lisa Plaetz Supervisor of Lease Admin.

    Classified Ads---Help Wanted

        Leasing Books for Sale

            Streamlined Sales Tax Meetings

                News Briefs---

    Sports Briefs---

        "Gimme that Wine"

            This Day in American History


  The List format is being revised.  Here is the present version:


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


   Classified Ads---Attorneys


Listed are Attorneys and law firms who specialize in the leasing industry,  belong to a leasing association, and are looking for clients to represent---free ad.


California - statewide: CA     "ELA"

5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders, plus collection and creditor rep. in bankruptcy.


California - statewide: Encino, CA.  "ELA"

24 Attorney AV-rated Law firm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court.


Connecticut, Southern New England: EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates. email:     EAEL


Law Firm - Service, Dallas, TX. ELA

Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.



Los Angeles, Statewide: CA.     "ELA"

Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly basis.


Los Angeles -statewide: CA      "ELA "

Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591- 2121 or email. Email:   



Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs:


National: Coston & Lichtman: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate; workouts, litigation, bankruptcy. Chicago & Florida offices. Jim Coston, CLP (Members: ELA/UAEL/MAEL)



Northern California - Statewide: CA "EAEL" "ELA" San Francisco expertise at Marin County prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq.

Vox: 415 461 3777


NY Metro and National: Hackensack, NY

Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters.     "ELA"


   Full Listing of all Classified Job Wanted ads:





"Leases Delivery Necessary to Trigger Business's Payment Obligation"


(This is a common ruling regarding the enforcement of lease contracts, especially

those who do not have “legal language” that allows them to keep monies advanced,

and who rely on their general language of default---meaning if the lease is not

executed-equipment delivery—the contract is not valid. editor )


  ELT News


Leased equipment must be delivered in order to activate a business' obligation to make its monthly payments to the leasing company, even if the business signs an acceptance or risk of loss agreement, the Hawaiian Court of Appeals has ruled. Jaz Inc. sued First Hawaiian Leasing over monthly payments it made on a photo processing machine that was never delivered. Jaz had signed a lease agreement, under which it was obligated to begin making payments upon acceptance of the machine and to take over risk of loss from the vendor. Jaz paid First Hawaiian a total of $13,732 on the $50,000 lease before suing both the vendor and the leasing company for failure to deliver the equipment.

Lender Liability News (03/05/04) Vol. 16, No. 18,




Sunday Sermon---On, No! Mr. Bill!!!


In the fall of 2001, I stopped sending the Sunday Sermon to Leasing News readers.


In a recent e-mail conversation with my friend Charlie Lester, he told me he missed them, and asked me to consider writing them again..  When I stopped, they were considered “too controversial” for readers as I was talking about God.


I think spiritualism is lacking in our daily lives.   Even people who regularly attend church or synagogue or mosque, often are wrapped up in group thinking, and not their own spirit.


Sunday Sermon is non denominational; often “out there,” but with the intention of making you think more of your values, your relationships, and not about money. Sometimes they are humorous, and sometimes quite serious. 


It is NOT sent out as Leasing News nor to Leasing News readers.

They will be sent out for Sunday to those who subscribe only. We

will has “guest” sermons as we did in the past.


If you want to subscribe, hit reply and type in the subject Sunday Sermon.


   Kit Menkin






Does the Treasury Want to Crack Down on SILO Deals and Traditional Leases?


       ELT News


Acting Assistant Treasury Secretary for Tax Policy Greg Jenner attempted to calm the fears of local and state government officials about the Bush administration's proposed crackdown on certain tax-advantaged lease deals at a legislative conference of the National Association of State Treasurers (NAST) Monday.


Jenner told attendees that while the federal government plans to ban what it considers abusive tax shelters under sale-in, lease-out transactions (SILO) between local governments and private companies, it will not tamper with traditional leasing deals involving equipment such as buses and photocopiers.


State and local agencies, along with the leasing industry, are fighting proposals in Congress to ban SILO deals, saying they help cash-strapped governments to fund important infrastructure projects. However, Jenner said the abusive deals not only take funds from the federal government, but they can also deplete state and local tax revenues. He added that legitimate, traditional leasing deals between local governments and corporations will be protected in the proposed legislation.


Officials attending the NAST meeting did not comment on Jenner's statements.


Members of the House and Senate are currently debating proposals to end the SILO deals, and Congress is expected to include some form of the legislation in an upcoming corporate tax reform bill.


Bond Buyer (03/09/04) P. 5 ; Ferris, Craig T




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


Grassley on Big-Ticket Leasing Coalition


Sen. Chuck Grassley, chairman of the (U.S. Senate) Committee on Finance, made the following comment in reaction to a news release from the Big-Ticket Leasing Coalition on the benefits to cities from city infrastructure leasing tax shelters.


“Well-paid lobbyist Mr. Kies conveniently forgets that these abusive tax shelter leases will cost state treasuries $6 billion. State and local governments are losing money on these deals – there is no net gain for them. This is in addition to the $33 billion the federal government will lose. He assumes that cities will not exercise their repurchase option, but we haven’t seen a city yet that’s ready to go without its sewer system.”


      The Big-Ticket Leasing Coalition’s news release follows.


Senate Finance Committee Analysis Confirms Study Showing Leasing Transactions Provide Substantial Benefits to Municipalities


Washington, DC – March 5, 2004 – Senate Finance Committee Chairman Charles Grassley (R-IA) and Senator Max Baucus (D-MT) have released findings showing that municipal leasing transactions provide cities and their agencies $1 for every $2 that the transactions cost in reduced federal tax revenues. These findings confirm the results of the study released by the Big-Ticket Leasing Coalition on March 2, 2004.


The Big-Ticket Leasing Coalition study found that municipalities receive benefits equal to 52.6 percent of the tax savings from a municipal leasing transaction in which the municipality chooses to exercise the option it has to purchase the leased property at the end of the lease term – this result is virtually identical to the Grassley-Baucus findings.

The Big-Ticket Leasing Coalition Study also showed that in the more likely case where the municipality chooses not to exercise its purchase option, the benefits to the municipal lessee on average are likely to exceed the revenue losses to the federal government. Specifically, the study shows that the municipal lessee benefits in the 26 transactions range from 81.8 percent to 377.7 percent of the revenue losses – an average of 125.1 percent of the revenue loss. According to Coalition leader Kenneth Kies, "the findings by Senators Grassley and Baucus confirm that leasing is an efficient way of providing for the capital needs of municipalities compared to tax exempt bonds or other tax incentives. Indeed, it is as efficient, or more efficient, than tax-exempt bonds.”


Grassley and Baucus also revealed that municipal leasing transactions are estimated, by the Congressional Joint Committee on Taxation, to provide municipalities with $5.4 billion of benefits over the next ten years. According to Kies, "if the Administration's municipal leasing proposals are ultimately enacted, that is $5.4 billion the nation's cities will simply not have."



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


J.P. Morgan / Bank One Merger Receives Antitrust OK


  U.S. Banker


The merger between J.P. Morgan and Bank One received antitrust clearance from the Federal Trade Commission on Friday. The government agency granted the companies an early termination of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act.


Under terms of the merger agreement, J.P. Morgan has agreed to exchange 1.32 of its shares for each Bank One share. The deal, which was announced January 19, is valued at $58 billion. The companies have projected a combined net income of up to $12.06 billion in 2005, based on cost-savings assumptions.




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


U.S. Equipment Lease ABS Delinquency Index Falls Below 2%



Fitch Ratings-New York- During fourth-quarter 2003 (4Q'03), Fitch Ratings' U.S. equipment lease asset-backed securities (ABS) delinquency index fell to a six year historic low, according to the latest edition of 'The ABS Equipment Expo'.


As of Dec. 31, 2003, total delinquencies over 30 days past due fell 57 basis points (bps), or 23% from the third quarter to reach 1.88%. Likewise, the 3- and 12-month moving averages dropped 67 and 61 bps , respectively.


Overall, the equipment ABS market continued to reap the benefits of the sector's stabilization in 2003. Total issuance volume by dollar amount increased more than 35% from 2002 and lower delinquencies and defaults have strengthened lessors' portfolio performance. While fewer players are financing through the ABS market than in years past, the consolidated sector is dominated by healthier equipment lease ABS issuers.


In addition to highlighting the delinquency index, Fitch's 'ABS Equipment Expo' newsletter features a 'Financial Institutions Rating and Watch/ Outlook Trends' report from Fitch's Financial Institutions Group, a summary of Fitch-rated equipment ABS upgrades and an update on the DVI, Inc. bankruptcy situation.


All public and 144A Fitch-rated ABS equipment lease transactions since December 1997 are included in Fitch's index, which now tracks the performance of 102 transactions over a six-year period.


'The ABS Equipment Expo' is a publication that follows equipment lease ABS performance, industry trends and developments within the securitization market. Both current and historical editions of the newsletter are available on the Fitch Ratings web site at '' or by contacting the Ratings Desk at +1-800-893-4824.


Contact: Sara Grohl +1-212-908-0564, New York.


Media Relations: Sandro Scenga +1-212-908-0278, New York.



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



De Lage Landen appoints Jim Curley Chief Information Officer for its Americas Division


WAYNE, Pa.,  – De Lage Landen International B.V., a leading international provider of high-quality asset-based financing products for manufacturers and distributors of capital goods, has promoted Jim Curley to the newly created position of Chief Information Officer for the company’s Americas Division, headquartered in Wayne, PA.


    In this position, Curley, of Ambler, PA, who previously served as Senior Vice President – Information Technology for De Lage Landen Financial Services, also in Wayne, will oversee the Information Technology function for the division and work to ensure IT alignment among operations throughout the Americas.  


    He will report directly to De Lage Landen Americas Division Chairman Ronald Slaats.


       Curley joined the company in 1997 as Systems & Programming Manager and was promoted in quick succession to Director, Systems & Programs in 1998, to Vice President in 1999 and to Senior Vice President in 2000.


    He earned both a Bachelor of Business Administration degree in Computer Information Science and a Master of Computer Information Science degree from Temple University in Philadelphia.


    De Lage Landen is a Netherlands-based international provider of high-quality asset financing products. With a presence in 22 countries across the globe, the company focuses on the following industries: Food & Agriculture, Healthcare, Office Equipment, Telecommunications, Technology Finance, Materials Handling & Construction and Financial Institutions. In its domestic market the company offers Equipment Leasing, Car & Commercial Vehicle Leasing, ICT Leasing and Trade Finance through local Rabobanks and direct to market.



    De Lage Landen is a wholly owned subsidiary of the Dutch Rabobank Group that is AAA-rated by Moody’s and Standard & Poor’s. For 2003 De Lage Landen grew its profits to $129.6 million (€114.8 million) and its balance sheet total to $17.8 billion (€14.1 billion).



    For more information, please contact our website:




Sites of Reference:



Rita DiMartino

De Lage Landen Financial Services

Phone Number: 610 386 5441

Fax Number: 610 386 5840




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


Pawnee Leasing  appoints Lisa Plaetz Supervisor of Lease Admin.



Pawnee Leasing Corporation is pleased to announce the addition of Lisa Plaetz as Supervisor of Lease Administration effective March 1, 2004.  Plaetz will oversee day-to-day documentation and customer service functions at Pawnee Leasing's corporate headquarters.

Most recently, Plaetz was a Commercial Credit Analyst for US Bancorp-Manifest Funding Services, responsible for the analysis of lease transactions ranging from $75,000-$500,000.  She brings six years of experience in the leasing industry to her new position at Pawnee Leasing.  Jerry Reeves, Executive Vice President, stated, "We're very excited to have Lisa join Pawnee Leasing.  Her years of varied experience in the leasing industry make her a valuable addition to our staff.  In her role as Supervisor of Lease Administration, she will continue to utilize her expertise in servicing the broker community and play a key role in strengthening our existing relationships."

Pawnee Leasing Corporation is a small ticket lease funding source specializing in start-up and "B" credit transactions.  Pawnee has been servicing the broker community exclusively since 1982.


Pawnee Leasing Corporation
 700 Centre Avenue
 Fort Collins, CO 80526

Phone = (970) 482-2556
Fax = (970) 482-2666



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



 Classified Ads---Help Wanted


Credit and Documentation Administrator

Credit & Doc. Admin. to assist with credit investigation, doc.prep., coordinate territory mgrs. Wayne, NJ fast growing lessor.
Contact: Duane E. Rouba @ 800-848-7210 X 222

About the Company:


Sales Representatives

Looking for a company change?

SCL is adding to the sales force. We are looking for 8 new sales people.  We are a vendor driven company with a large funding portfolio. High Impact commission, 50-65%! We can provide Real Estate Loans to your commercial clients. Profit sharing & Medical.  Call 714-573-9804

About the Company: 250 El Camino Real   #111 Tustin Ca. 92780. UAEL Member


Sales: We're not the biggest or the slickest. Work form home or our office in Scottsdale, AZ. If you are ethical, hard working, take pride in your craft and want a career not another job please contact George Armstrong @
800-836-7753 ext. 107

About the Company: A successful, well-respected broker, well-established family owned broker with outstanding funding capabilities. Located in Scottsdale, AZ.


Sales: Tired of working on commission and not getting your fair share of the split?
We pay up to 60% of gross margin +residuals !! Contact Michael Wagner @
949-250-0585 x222 or Fax: 949-250-8042.

About the Company: Dimension Funding, LLC Formed in 1979. Located on 17748 Sky Park Circle, Irvine, CA. 92614. Website:


Senior Sales Executive

Balboa Capital Logo
"Sr.Sales Exec. 5+yrs exp. 10-150K market. Current deal flow and superior closing skills a must. No geo. restrict./satellite office ok. Use our internal line/prefund ability, provides support you need to reach W2 goal. Our 16 years TIB stands alone."

About the Company: Balboa Capital. 2010 Main Street 11th Floor Irvine, CA. 92614


Vendor Sales Manager

Seeking experienced Vendor Sales Manager to build world class small-ticket vendor sales team in Southern California.





Leasing Books for Sale



Books on Equipment Leasing by Listed by Source:




              Direct Purchase

              Certified Leasing Professional (CLP) Foundation

              Equipment Leasing Association

              Equipment  Leasing and Finance Foundation Reports

              United Association of Equipment Leasing           


Library Research from Home


               See site at:







  Streamlined Sales Tax Meetings


Three meetings dealing with Streamlined Sales Tax (SST) are scheduled.  The Council On State Taxation (COST) hosts a meeting dealing with SST issues on Monday, March 22 and Tuesday, March 23 in New Orleans. The Streamlined Sales Tax Project (SSTP) convenes in Tampa, Florida on Monday, May 24 and Tuesday, May 25.  The SSTP concludes at 12:00 p.m. followed by the inaugural meeting of the Conforming States Committee of the Streamlined Sales Tax Implementing States. 


This update provides:


·       COST Conference & Hotel Registration

·       COST Conference Agenda

·       Streamlined Sales Tax Project Announces May Meeting

·       Business Only Session

·       SSTP Agenda

·       ELA Schedules Technology Web-Seminar

·       Conforming States Inaugural Meeting Scheduled

·       Taxability Matrix Posted

·       Exemption Certificate Posted

·       Bundling Conference Call March 15

·       Bundled Transaction Definition Revised

·       Taxability Matrix Posted


COST Conference & Hotel Registration


COST will host a private sector meeting dealing with SST issues on Monday, March 22 and Tuesday, March 23 at the JW Marriott (formerly Le Meridien Hotel) located at 614 Canal Street in New Orleans. Registration will be handled by your prompt RSVP to Steve Kranz of COST at   Include your name, job title, company/trade association/state department of revenue, street address, telephone and fax numbers and email address for each person that will be registering.  A registration fee of $100 per person will be invoiced to you for payment by credit card or check. Call the JW Marriott directly at (504) 525-6500 to make reservations at a group rate of $165 - $185 depending on the room configuration.  The room block is listed under the ABA/IPT conference (which is taking place at the same hotel March 23rd to 26th).  


COST Conference Agenda


The COST agenda is focused on reviewing the compliance checklist process and discussing the status of compliance in each of the twenty states that have passed conforming legislation.  The meeting starts Monday morning at 9:00 a.m. and concludes Tuesday afternoon at 4:00 p.m.  Representatives of state government are encouraged to attend, especially the 20 states that have enacted the Agreement.  This will provide an opportunity for private sector volunteers to meet as a group and to review the compliance checklists with the government representatives who did the initial preparation.



If you are one of the volunteers involved in the compliance checklist process it is important that you participate in this meeting.  So that copies may be made for discussion purposes, please send a copy of the most recent compliance checklist to Steve Kranz at


The draft agenda below is subject to change but at present begins with a private sector only session on Monday morning to discuss the checklist process, bundling rule, federal legislation, and any other topics you suggest.  Those retained to represent state and local government interests are not eligible to participate. RSVP for the business only session with COST Tax Counsel, Steve Kranz, at


After Monday’s lunch COST will convene a joint business / government session to go through the compliance checklist process, discuss specific issues and findings, and hopefully develop a firm understanding of the status of state compliance with the Agreement. 


On Tuesday, a number of people are speaking at the ABA/IPT session that morning so the start time will be delayed until 10:30 a.m.  From 10:30 to noon on Tuesday COST will again lead a meeting with the government representatives to go over any remaining compliance issues.  After lunch they will have a wrap-up business only session from 1:30 p.m. until 4:00 p.m.  If you have other suggestions for the agenda please send them to Steve Kranz.     


Monday, March 22, 2004


9:00 – 12:00    Private sector only discussion of compliance checklist and other issues

12:00 – 1:30    Break for lunch (on your own)

1:30 – 5:00     Joint meeting of private sector and government representatives to discuss compliance checklist issues


Tuesday, March 23, 2004


10:30 – 12:00   Continuation of joint meeting

12:00 – 1:30    Break for lunch (on your own)

1:30 – 4:00     Business only session recap


Streamlined Sales Tax Project Announces May Meeting


The Streamlined Sales Tax Project will meet on Monday and Tuesday, May 24-25, in Tampa, Florida at the Grand Hyatt Tampa Bay. Registration information will soon be made available. A preliminary agenda is provided below. Sessions begin at 8:30 am on Monday for government personnel and 10:00 am for business representatives.  SSTP concludes with lunch on Tuesday followed immediately by the first meeting of Conforming States Committee. Web address for the Grand Hyatt Tampa Bay is



The Grand Hyatt Tampa Bay is located at 6200 Courtney Campbell Causeway in Tampa and provides complimentary transportation to and from the airport, which is about 2 miles away.  The rate will be $95 single/$120 double per night plus tax.  You may make a reservation by calling 813/874-1234 or 800/233-1234.  Be certain to ask for the Federation of Tax Administrators Streamlined Sales Tax room block.


Business Only Session


COST will sponsor the business-only session on Monday, May 24 from 10:00 a.m. until noon.  It is not part of the SSTP program and is not a public meeting. Those retained to represent state and local government interests are not eligible to participate.  The session is open to COST members and others from the private sector that send notice to COST of a desire to attend.  If you are not a COST member but wish to participate, please RSVP to Steve Kranz at


SSTP Agenda


Streamlined Sales Tax Project Meeting

Tentative Agenda

May 24-25, 2004


Grand Hyatt, Tampa, Florida


Monday, May 24, 2004           


8:00 a.m.       Continental Breakfast

8:30 a.m. – 12:00 Noon  Combined Work Group Meeting

          (Government Personnel Only)


10:00 a.m. – 12:00 Noon Business Community Meeting

          (Private Sector Only)


12:00 Noon – 1:00 p.m.  Lunch for all


1:00 p.m. – 4:30 p.m.   Combined Work Group Meeting* (one room)


Compliance Review

Taxability Matrix Review

Rate/Jurisdiction Database Review

Exemption Administration Paper

Amnesty Procedures

Candy Definition

Audits/Certification Standards

Sales Tax Holiday Definitions



Tuesday, May 25

7:30 a.m.       Continental Breakfast


8:00 a.m. – 9:30 a.m.   Combined Work Group Meeting* (one room)



Sourcing Issues

Registration System Update

·       Request for Proposal Update


Time Line


9:30 a.m. – 11:00 a.m.  Work Group Meetings* (two rooms)


Telecommunications Definitions

Digital Equivalent of Tangible Personal Property



11:00 a.m. – 11:45 a.m. Project Meeting**


(Open to Government and Private Sector)




Approve Minutes

Business Discussion

Public Comments**



11:45 a.m. – 12:45 p.m. Lunch


12:45 p.m. – 3:00 p.m.  Conforming States Meeting*

        (Open to Government and Private Sector)




*As a general rule, work group sessions will be open to the private sector.  Some work groups may have a closed session for a limited period of time.


**Members of the public wishing to address the Project should contact Diane Hardt at (608) 266-6798 or Scott Peterson (605) 773-3311 to be included on the agenda.  Time for each person may be limited, depending on the number of persons wishing to address the Project.


ELA Schedules Technology Web-Seminar


The Equipment Leasing Association (ELA) has scheduled an informative web-based seminar examining technology that will implement Streamlined Sales Tax (SST). Scheduled from 1:30 – 3:00 pm Eastern Time on Thursday, April 8, the web seminar is designed for commercial equipment lessors but will have some applicability to other industries since the basic technology platform concerns all parties implementing the software-driven SST.  Taxware will guide participants through a review of lease origination, accounting and tax software integration with certified automated systems and certified service provider systems considered critical for compliance with SST. To learn more about the agenda and to register, go here:


The following has been provided by COST


Conforming States Inaugural Meeting Scheduled


The SSTP meeting will conclude on Tuesday the 25th at 12:00 p.m. but will be followed by a meeting of the Conforming States Committee of the Streamlined Sales Tax Implementing States. 



The Conforming States Committee was authorized by amendment to the Agreement (made during the Phoenix meeting), which allows the states that have passed conforming legislation to meet and take necessary steps to implement the requirements of the Agreement.  This will be the first meeting of the Conforming States Committee - which will ultimately evolve into the Governing Board once sufficient state laws become effective to trigger creation of the Board.  The meeting of the Conforming States Committee is expected to end by 3:00 p.m.


Taxability Matrix Posted


The taxability matrix that was approved by the SSTP during its January meeting has been posted on the SSTP website at  The matrix is limited to identifying the tax treatment for items which the project has approved uniform definitions.  An earlier version of the matrix, which included tax treatment for items that have not been uniformly defined (including exemptions), was tabled for later discussion.  The narrower matrix is required by Section 328 of the Agreement and the SSTP wanted to have met that requirement before dealing with other issues.  COST hopes the larger taxability matrix will be adopted by the SSTP, and Section 328 amended, in the future to address the remaining issues.  



Exemption Certificate Posted


The uniform exemption certificate that was approved by the SSTP during its January meeting has been posted on the SSTP website at 




Bundling Conference Call Scheduled March 15th


The SSTP subgroup responsible for developing the definition of bundled transactions is holding a conference call on March 15th at 12:00 p.m. (Eastern) to continue its work. The most recent draft appears below. Because the SSTP has arranged a limited number of lines for this call, they have asked that members of the business community interested in participating RSVP through Steve Kranz at 



Bundled Transaction Definition Revised


The purpose of this section is to define when a transaction is bundled.  For purposes of clarity, bundled transactions may be subject to taxation pursuant to each state’s applicable statutes.




A bundled transaction means the retail sale of otherwise distinct and identifiable products for one non-itemized price that does not vary and is not negotiable based on the selection of the products made by the purchaser.


(A)     The term “product” means tangible personal property or services and does not include real property or services to real property.


(B)     The term “distinct and identifiable products” means products that are commonly understood as separate and independent such as (list is not meant to be all inclusive):


Hardware, hardware maintenance and help desk support

Software, software maintenance, programming and help desk support

Data processing, data printing and consulting

Prescription drugs, medical supplies, nursing and pharmacist consultation

Local, long-distance telecommunications and ancillary services



  “Distinct and identifiable products” does not include:


(1)     Packaging – such as containers, boxes, sacks, bags, and bottles – or other materials – such as wrapping, labels, tags, and instruction guides – that accompany the products that are incidental and immaterial to the retail sale thereof.  Examples of packaging that are incidental and immaterial include grocery sacks, shoeboxes, dry cleaning garment bags and express mail envelopes.


(2)     A product provided free of charge with the required purchase of another product.


(a)     A product is “provided free of charge” if the sales price of the product purchased does not vary depending on the inclusion of the product “provided free of charge.”


(3)     Products that are part of the sales price as defined in Appendix C of the Agreement.(Clarify this section as purpose not clear) 


(C)     The term “one non-itemized price” means the sales price of the distinct and identifiable products are not separately itemized.  The term “one non-itemized price” does not include products which are separately itemized on binding support sales documentation including an invoice, bill of sale, contract, service agreement, lease agreement, catalog or price list.


A bundled transaction does not include any of the following:


The retail sale of tangible personal property and a service where the tangible personal property is essential to, or facilitates, the use of the service, and is provided exclusively in connection with the service, and the true object of the transaction is the service.  This is a retail sale of a service.


The retail sale of services where one service is provided that is essential to, or facilitates, the use or receipt of a second service, and the first service is provided exclusively in connection with the second service and the true object of the transaction is the second service.  This is a retail sale of the second service.


The retail sale of taxable products and nontaxable products where the purchase price or sales price of the taxable products is de minimis.




If the retail seller is the bundler, de minimis means the seller’s purchase price of the taxable products are ten percent (10%) or less of the total purchase price (i.e., the buyers purchase price) of the bundled products.


If the retail seller is not the bundler, de minimis means at the option of the seller:

De minimis pursuant to subsection (B)(1), or The sales price of the taxable products is ten percent or less of the total sales price of the bundled products.


Seller shall use the full term of a service contract to determine if the taxable products are de minimis.




Dennis Brown

Equipment Leasing Association




News Briefs---



Consumer Confidence Falls Again in March


Doctors feeling pinched/Seen seeking ways to hike incomes


U.S. Gas Prices a Penny Short of Record


Tyco, Law And Lunacy At Trump Tower


Adelphia witness testifies about loans of $2 billion


U.S. Increasing Trade Pressure on China, India


Cotton Industry Eyes Quality Problems


VW to cut 5,000 jobs as profit drops


92 in Palm Springs/82 in San Jose/88 in downtown Burbank





Sports Briefs---


Seattle gets WR Jackson for reported $25 million, 6-year deal


 Garcia, Browns come to terms- $25 million four year contract


Owens wants deal undone-Pleads to Philly to Make Offer





“Gimme that Wine”


For Unashamed Bargain Hunters-Macon-Village Chardonnay our house white-Louis Jadot-on sale $9.99 to $10.99---by Frank J. Prial


Screw Caps Make the Turn in America, Canada



This Day in American History


Hey, this is Mario Day.  A day for all persons named Mario. Using the abbreviations for the month of March, i.e., Mar, with the day, i.e. 10, you get the name spelled out: Mario.

****************** ***********************************************************

=========Colonial Times=========

=========Civil War—including pre and post=========

=========Gilded Age=========

=========World War I --pre and post=========


=========Post World War II=========








=========Colonial Times=========

            1776- Charleston,S.C., set up an independent government under a temporary local constitution that was to be in effect until an agreement with England could be reached. John Rutledge was chosen presi­dent. This government, said to be the first independ­ent government within the recognized borders of the colonies, successfully defended Charleston against the British army and fleet on June 28, 1776, thus freeing the South from attack for nearly three years.  Culture was also flourishing here and New York City, Philadelphia, Boston, but most of all in Charleston.  In the mid-eighteenth century musical concerts were flourishing in the colonial centers, and musical societies, music dealers, and instrument makers all benefited.  the first music society in America was founded in Charleston, the St. Cecila Society in 1762.  In Europe, Charleston was considered the chief cultural center of the colonies, and many artists, actors and musicians chose to settle there when they immigrated to America. Other cities could boast of cultural achievements as well. In Boston a group of gentlemen sponsored a concert in Faneui Hall as early as 1744, and in 1954 the first concern hall in Boston was opened by Gilbert Dubois.  Philadelphia boasted four organ makers who produced spinets and virginals as well as organs.

“In 1762, the women of Charleston founded the St. Cecila Society as a musical organization; however, by the 1840's, the society had become more of a cotillion club than an organization to provide quality music to the socially refined. The society held their largest ball annually during February (just before lent) in Hibernian Hall on Meeting Street. A contemporary remarked "the membership remains exclusive and its affairs somewhat secret." Even today, the club remains secretive and its historical records and membership lists remain off-limits to non-members.”

=========Civil War—including pre and post=========

     1849-Besides being an attorney, Abraham Lincoln was an inventor, as o this day he received a patent for a device for “buoying vessels over shoals” by means of inflated cylinders.

    1854-Hallie Quinn Brown, women's right activist, born Pittsburgh, PA.

     1862-The first paper money was issued in the US on this date in 1862. The denominations were $5 (Hamilton), $10 (Lincoln and $20 (Liberty).

    1864-Gen. Ulysses S. Grant was made general in chief by Pres. Lincoln, replacing Gen. Henry W. Halleck.

    1865- Battle of Monroe's Crossroads, North Carolina, one of the largest Calvary battles of the war between two flamboyant generals's_crossroads.htm

=========Gilded Age=========

     1867-American sociologist, founder of the Nery Street Settlement at New York City, Lillian D. Wald birthday.  The Henry Street Settlement was the first nonsectarian public health nursing service. Born at Cincinnati, OH; died at Westport, CT, Sept. 1, 1940.

     1876- Alexander Graham Bell transmitted the first telephone message to his assistant in the next room: “ Mr. Watson, come here, I want you,” at Cambridge, Massachusetts. Born at Edinburgh, Scotland, Bell acquired his interest in the transmission of sound from his father, Melville Bell, a teacher of the deaf. Bell’s use of visual devices to teach articulation to the deaf contributed to the theory from which he derived the principle of the vibrating membrane used in the telephone. Bells other accomplishments include a refinement of Edison’s phonograph, the first successful phonograph record and the audiometer.

      1880- Salvation Army Commissioner George Scott Rail ton and seven women officers landed at New York to officially begin the work of the Salvation Army in the United States.

=========World War I --pre and post=========

     1903-- Trumpet Player Bix Beiderbecke Birthday

     1903-Playwright and politician Clare Booth Luce born at New York City.  Luce wrote for and edited Vogue and Vanity Fair as well as writing plays, three of which were later adapted into motion pictures---The Women(1936), Kiss the Boys Goodbye(1938) and Margin of error(1939)  She served in the US House of Representatives(1943-47) and as ambassador to Italy(1953-56)---the first woman appointed ambassador to a major country.  Luce died Oct 9, 1987 at Washington, DC.

    1924- Guy Lombardo and the Royal Canadians made their first recordings at a session in Richmond, Indiana. Two songs were released on the Gennett label.

     1924-Tenor sax/Trumpet player Bunny Williams born Magnolia, MS

1922-Dodge City, Kansas was buried under 17.5 inches of snow in 24 hours -- the city's biggest 24 hour snowfall on record.


    1933 -Major earthquake in Long Beach CA

   1935 - On Victor Records, Nelson Eddy recorded "Ah! Sweet Mystery of Life". The song was from the film, "Naughty Marietta". Later, Eddy recorded the song with Jeanette MacDonald.

    1937 - An audience of 21,000 jitterbuggers crowded the Paramount Theatre in New York City to see the ‘King of Swing’, Benny Goodman.

    1937- Canadian country singer Tommy Hunter was born in London, Ontario. Hunter joined CBC TV's "Country Hoedown" in 1956 as rhythm guitarist with King Ganam's Sons of the West. "The Tommy Hunter Show" succeeded "Country Hoedown" on the CBC network in 1965. It became one of the most popular TV variety programs in the country, and received international exposure via The Nashville Network pay TV channel in the US. When the CBC cancelled "The Tommy Hunter Show" in 1992, it was the longest-running music show on any North American network. Hunter is known as "Canada's Country Gentleman," and has received several J no Awards as Canada's best male country singer.

    1938 - Jezebel, directed by William Wyler, opened in United States theaters. The film starred Bette Davis, Henry Fonda, George Brent, and Fay Bainter. Davis won her second Oscar as a ruthless Southern belle who goes too far to make fiancé Fonda jealous. Bainter received a Best Supporting Actress Oscar, and the film was nominated for a Best Picture Oscar. Bette Davis starred in a series of acclaimed films that won her Best Actress nominations for five consecutive years: Jezebel (1938), Dark Victory(1939), The Letter (1940), The Little Foxes (1941), and Now, Voyager (1942). In 1950, she won the New York Film Critics' Best Actress Award for her stunning performance as actress Margo Channing in All About Eve. Her career tapered off in the late 1950s but revived in 1962 with her leading role in Whatever Happened to Baby Jane?. She spent most of the 1970s doing television work until cancer forced her to slow down. In 1977, she became the first woman to receive the American Film Institute's Life Achievement Award, and her filmography includes more than 80 works. She wrote two autobiographies, The Lonely Life in 1962 and This 'N' That in 1987, and has been the subject of many biographies. She died of cancer in 1989.

     1938 - The day: the 10th of the month. The movies being celebrated were for the year 1937, whose numbers add up to 10 (1+9, 3+7); and it was the 10th Annual Academy Awards. We wonder if these winners were superstitious or had some reason to think that the number 10 was lucky. Two awards were won by "The Life of Emile Zola", a Warner Bros. movie, produced by Henry Blanke, Best Picture honors and Best Actor in a Supporting Role to Joseph Schildkraut. Other lucky recipients of the coveted prize awarded by the Academy of Motion Picture Arts and Sciences at Los Angeles’ Biltmore Hotel were Leo McCarey as Best Director for "The Awful Truth"; Spencer Tracy for his Best Actor role (Manuel) in "Captains Courageous"; Luise Rainer for her Best Actress role (O-Lan) in "The Good Earth"; Alice Brady as the Best Actress in a Supporting Role (Molly O’Leary "In Old Chicago") and Harry Owens for his Best Music/Song, "Sweet Leilani" from "Waikiki Wedding".

   1939 - The Little Princess, starring Shirley Temple and based on Frances Hodgson Burnett's novel, opened in United States theaters.

    1940- Dean Torrance of the surfing music duo of Jan and Dean was born in Los Angeles. He went to the same high school I did, University High School in Los Angeles.  He really was a “surfer.”  In 1959, Dean and Jan Berry had their first top-ten hit, "Baby Talk," which was arranged by the then-unknown Herb Alpert. Their biggest success came in 1963 with the number-one song "Surf City," written by Brian Wilson of the Beach Boys. In 1966, Jan Berry suffered brain damage when his car rammed into a parked truck in Los Angeles. That ended Jan and Dean's career, although they have performed together occasionally since Berry's recovery in 1973. Dean Torrance turned to designing album covers as head of Kitty Hawk Graphics in Hollywood.

    1941 - The Brooklyn Dodgers announced their players would wear batting helmets for the 1941 season. General Manager Larry McPhail correctly predicted all baseball players would wear the new devices soon

    1944-vibraphone player David Friedman born New York City

     1945 - 300 United States B-29 bombers devastated Japan's capital in what became known as the Great Tokyo Air Raid in World War II. The firestorm they created killed 100,000 people.

=========Post World War II=========

    1948 --  Zelda Fitzgerald and eight other women killed in sanitarium fire in Asheville, North Carolina. Trapped on the third story, she dies at 48. . Both she and her husband were alcoholics, which affected her earlier than it did F. Scott. ( here is corroboration of the date, but go

back to the beginning and read the chronological series of her life  to better understand their “condition.”  Simply put: Once you become a pickle, you can’t go back to being

a cucumber.

 More information of Zelda Fitzgerald

    1949—Top Hits

Far Away Places - Margaret Whiting

Powder Your Face with Sunshine - Evelyn Knight

Galway Bay - Bing Crosby

Don’t Rob Another Man’s Castle - Eddy Arnold


     1956 - Louisa May Alcott's popular novel, Little Women, was again adapted for the screen, and opened in movie theaters on this date. This version starred June Allyson, Peter Lawford, Margaret O'Brien, Elizabeth Taylor, Janet Leigh, Rossano Brazzi, and Mary Astor. The film won an Oscar for Best Art Direction-Set Decoration, Color (1949).

     1957—Top Hits

Young Love - Tab Hunter

Young Love - Sonny James

Round and Round - Perry Como

There You Go - Johnny Cash

     1959 - Tennessee William's play "Sweet Bird of Youth", opened at the Martin Beck Theatre in New York City, starring Geraldine Page, Paul Newman, Rip Torn and Diana Hyland. Critics called Page “fabulous” and said Newman was “the perfect companion piece.”

    1959- Elvis Presley's "I Need Your Love Tonight" backed with "A Fool Such as I" is released on RCA Records. The following day, based on advanced orders for the disco totaling nearly one million, RCA ships a gold record for the platter to Elvis, who is stationed in Germany.



     1960 -a heavy snowstorm left 10 inches in Georgia, 22 inches in Tennessee, 24 inches in Kentucky and 15 inches in Virginia. Many buildings collapsed from the weight of the snow.

     1961- Twenty-two year old songwriter Jeff Barry whose "Tell Laura I Love Her" was a Top Ten hit for Ray Peterson, signs an exclusive writing and recording deal with Trinity Music. In 1962, he hooks up with Phil Spector and Shadow Moaton, and with his new wife Ellie Greenwich, they start cranking out the hits. They include "Da Doo Ron Ron" and "Then He Kissed Me" (Crystals), "Be My Baby" (Ronettes), "Chapel of Love" (Dixie Cups), "Do Wah Diddy" (Manfred Mann), "Leader of the Pack" (Shangri-Las) "River Deep , Mountain High" (Ike and Tina Turner), "Hanky Panky" (Tommy James) and "Cherry Cherry" (Neil Diamond).

     1965—Top Hits

My Girl - The Temptations

The Jolly Green Giant - The Kingsmen

Eight Days a Week - The Beatles

I’ve Got a Tiger by the Tail - Buck Owens

     1965 - Walter Matthau and Art Carney opened in one of Neil Simon’s greatest theatrical triumphs, "The Odd Couple"; which would also become a television hit starring Tony Randall as the tidy Felix Ungar and Jack Klugman as slovenly sportswriter, Oscar Madison.

1965-Heather Farr, golfer born at Phoenix, AZ.  Farr was an outstanding amateur golfer and a promising member of the LPGA tour when she was stricken with breast cancer in 1988.  Radical treatment allowed her to fight the disease with great courage for five years without losing her spirit or sense of humor.  In Farr’s honor, the LGPA annually present the Heather Farr Player Award to the golfer, “who, through her hard work, dedication, and love of the game of golf, has demonstrated determination, perseverance and spirit in fulfilling her goals as a player.” Died November 20,1993.

   1968 --  César Chávez breaks his fast at a mass in Delano's public park with 4,000 supporters at his side, including Senator Robert Kennedy. 

   1969 - James Earl Ray was sentenced in Memphis, Tennessee, to 99 years in prison for the murder of Martin Luther King Jr. in April 1968. The King family believes he is not the one who pulled the trigger.



    1973—Top Hits

Killing Me Softly with His Song - Roberta Flack

Dueling Banjos - Eric Weissberg & Steve Mandell

Love Train - O’Jays

’Till I Get It Right - Tammy Wynette

    1977- Pink Floyd's album "Animals" was certified platinum - one million copies sold - in the US.

    1978-“The Incredible Hulk” premieres on TV.  A wonderfully campy action series based on the popular Marvel comic books as well as a modern-day Jekyll and Hyde story.  Bill Bixby played the erudite scientist, Dr. David Banner, who accidentally exposed himself to a gamma radiation. When provoked, Banner metamorphosed into the shirt-shredding, body-baring, green-skin, snarling Neanderthal Hulk. The 6’5” 275-lb former Mr. Universe, Louis Ferrigno, played the largely non-speaking part of the Hulk.

    1978- The Bee Gee's "Night Fever" moves into the #1 spot on the chart. It replaces another Gibb Brothers tune, "Stayin' Alive."



     1981-New Denver Broncos owners Edgar F. Kaiser, Jr., named Dallas Cowboys offensive coordinator Dan Reeves head coach.  In 12 seasons, Reeves too the Broncos to three Super Bowls and compiled a 117-79-1 record.

    1981—Top Hits

I Love a Rainy Night - Eddie Rabbitt

9 to 5 - Dolly Parton

Keep on Loving You - REO Speedwagon

Do You Love as Good as You Look - The Bellamy Brothers

       1982- known as the Jupiter effect, the much-talked-about and sometimes-feared planetary configuration of a semi-alignment of the planets on the same side of the sun occurred on this date without causing any of the disasters or unusual natural phenomena that some had predicted.

    1985 - The Dallas Mavericks' Dick Motta became the fourth coach in the National Basketball Association to win 700 games as the Mavs beat the New Jersey Nets 126- 113. The three other coaches in NBA history to have that many wins were: Red Auerbach (938 games), Jack Ramsey (733 games) and Gene Shue (717).

    1986-A Green Beret camp was overrun by about 2000 North Vietnamese troops after a 72-hour siege. About 200 U.S. and South Vietnamese troops were killed or captured at the Special Forces base in the Ashau Valley.

    1986 -severe thunderstorms and tornadoes hit Indiana, Kentucky, and Ohio. A total of 19 tornadoes occurred. 3 of the tornadoes in Indiana reached F3 intensity (winds 158-206 mph). A densely populated subdivision of southeast Lexington, Kentucky was heavily damaged by a tornado. 20 people were injured and 900 homes were damaged or demolished. A very strong thunderstorm downburst hit the Cincinnati area. At the Greater Cincinnati airport, windows were blown out of the control tower, injuring the 6 controllers on duty. At Newport, Kentucky, 120 houses were destroyed from winds estimated from 100 to 140 mph.

    1989—Top Hits

Lost in Your Eyes - Debbie Gibson

The Lover in Me - Sheena Easton

The Living Years - Mike & The Mechanics

I Still Believe in You - The Desert Rose Band

1989 -34 cities in the central and southwestern US reported record high temperatures for the date. The high of 85 degrees at Hanksville, Utah was a record for March and Pueblo, Colorado equaled their March record of 86 degrees. Hill City, Kansas warmed from a morning low of 30 degrees to an afternoon high of 89 degrees.



    1990 - American Jennifer Capriati, at 13 years and 11 months, became the youngest player ever to reach the final of a professional tennis tournament, an event in Florida.

    1993-Giants Hire a Woman PA Voice: The San Francisco Giants made baseball history by hiring Sherry Davis to be the team’s public address announcer. Davis, a legal secretary, became the first woman PA voice in the major leagues after having done voice-over work since 1981.

    1993- Michael Jackson, in a live TV interview with Oprah Winfrey, said he had an inherited disorder that causes skin pigmentation to fade. He denied altering most of his face, but did admit to minor cosmetic surgery. Jackson also said he finds the comfort in children and animals that he missed in a friendless, workaholic childhood. In the wake of Jackson's first solo interview in nearly a decade, sales of his "Dangerous" album, released 14 months earlier, skyrocketed

     1995- Citing the labor unrest as the reason, former Chicago Bulls great Michael Jordan announces he is leaving baseball to return the NBA.




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