######## surrounding the article denotes it is a “press release”
Editor’s Note: Please excuse the difficulty we have been experiencing
in sending Leasing News this week. We hopefully on Monday will switch over to an HTML edition. It will be sent out at 3:00am ,California time, as well as up-dating the web site at this time.
This continues to give the most “up-to-date” news to readers
for an early morning edition.
This is part of an “improvement” in our abilities, and includes the new maintenance procedures of e-mail addresses. Brian Wong will be producing the edition. The problems have been on my end, not his.
He is skilled in HTML and internet communications. If this is successful, we then will address the “text” version e-mail addresses.
Next week we will be sending out only the “HTML” version.
This will bring the
web site direct to your mail box, allow you to
By the way, advertisers
are given an “extra day” for each day we do not issue a newsletter,
and often several “extra days” in an effort
Listed are Attorneys and law firms who specialize
in the leasing industry, belong to a leasing association, and are looking
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. email:email@example.com
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: firstname.lastname@example.org EAEL
Law Firm - Service, Dallas, TX.
ELA Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance. email:email@example.com
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. email:RGarwacki@prodigy.net
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: Email:firstname.lastname@example.org
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. Email:email@example.com "ELA"
From the Archives—May 15,2000 “The Start of the List”
“Here is a list with comments from a very well known publicly traded leasing company to their sales people ( it is an internal memo and I make no attribution to validity or the comments, just pass it along without attribution ):
Linc Capital ( out of vendor and broker business )
DVI Capital ( out of broker )
Leasing Solutions Prime Capital ( sold off )
VGM ( out of business )
American Business Leasing Fidelity ( acquired by ABN Amro Bank )
Phoenix, San Rafael ( both divisions )
Dana ( sold off )
Rockford ( sold )
Franklin Bank Transamerica Commerce Security Nationbank Leasing Unicapital
( struggling ) Imperial ( sold portfolio )
Newcourt ( sold off )
United Leasing ( out of liquidity )
Leasing Corp of America ( for sale below book value )
C&W Leasing Merit Leasing USA Leasing Liberty Leasing Copelco
( sold to Citibank )
Finova ( out of market place )
“We have an opportunity to grow from the departure of others. I am confident the rate increase will not obstruct your efforts to win vendors.”
While we did not identify it at the time, it was a memo from
First Sierra President Thomas J. Depping to his sales department.
“The" Fed raised prime a half point, as expected. Prime is now 9 1/2 by most banks. The highest it has been in nine years.”
Depping was telling his salesmen there must be more business available because these companies are no longer around. He
obviously did not see the Perfect Storm ahead.
From this memo, originally send by the late Adrian Bulman
was the start of the Leasing News List of companies in trouble,
and major changes in the industry.
Leasing Today Out of Business
by Kit Menkin
“Subsequent to our earlier communication Publish West Inc. stopped publishing the newsletter Leasing Today.
“Please provide us with your mailing address and we will mail you a refund for the unused portion of your subscription.
“The same offer made to you is available to any other paid subscribers, simply provide us with your mailing address and we will mail you a refund for the unused portion of your subscription.”
This news was confirmed earlier with the publisher Karl E. Sigerist, Jr., [mailto:firstname.lastname@example.org]
It appears “Office Dealer Equipment News” is still available at:
Leasing Today was sent out daily. The stories were very
similar to the Monitor
On Line and the Lessors Network, basically press released from the various
free news services, also direct from the leasing industry, along with
Wall Street Journal or Yahoo financial
Leasing Today was current, attractive, and often had news
It also had articles
written by members of the industry that
Financial Pacific IPO at $80.50 Offering Up-Date
Status not known at this time. Calls to Financial Pacific and
other securities spokesmen were not returned. The company
made its announcement about the sale of stock on April 12, 2004.
Financial Pacific Financial Statement with SEC:
Leasing News story on sale of stock:
Truckers protest spreads to Houston
Trucker protests over high fuel prices and low rates began in California late in April, but have since caught on in ports in Virginia and Houston.
More than 50 independent drivers walked off the job recently at Bridge Terminal Transport in East Houston.
They want the company to start chipping in considerably more to help pay their rising fuel costs – among other things. Drivers say they now pay an extra $150 a week out of their own pockets to fuel their rigs and keep working.
The main issue: Fuel costs have risen so much that independent truckers can’t make a profit – they’re surviving by the skin of their teeth.
"That's what's killing us -- the fuel prices. If the fuel prices would go down, we wouldn't be out here," trucker Urben Williams told KHOU television in Houston.
Some California and Virginia drivers have agreed to go back to work, but they vow to protest once again if their demands are not met.
LAND LINE MAGAZINE IS THE BUSINESS MAGAZINE FOR PROFESSIONAL TRUCKERS AND THE OFFICIAL PUBLICATION OF THE OWNER-OPERATOR INDEPENDENT DRIVERS ASSOCIATION (www.ooida.com).
Classified Ads---Help Wanted
Equipment Sales Representative
Marketing Indirect Originator
#### Press Release #############################
Brodt/Haycock Two New CLP’s
The Board of Directors of the CLP Foundation would like to extend its congratulations to our two newest Certified Lease Professionals:
Samantha Brodt, CLP
District Sales Manager
Wells Fargo Financial Leasing, Inc.
Mark Haycock, CLP
Vice President - Sales
ACC Capital Corporation
The letters "CLP" behind their name are a visible recognition of their experience in the industry and their professional achievement in having passed the CLP Exam.
The CLP Foundation is the official governing body for the Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism in the leasing industry. This designation identifies and recognizes individuals within the leasing industry who have demonstrated their competency through continued education, testing and conduct. The letters "CLP" behind their name represent a visible recognition of this professional achievement and status.
We invite you to visit our website -- www.clpfoundation.org for detailed information about the CLP Foundation and the CLP Program. For further information about our Mentor Program and Anonymous Test Taker Program please contact:
#### Press Release #############################
DocuSign Express™ E-Signature Service Selected by Preferred Business Solutions to Serve the Equipment Leasing Market
Seattle, WA - - DocuSign, Inc. has announced the selection of DocuSign Express™ by Preferred Business Solutions to provide efficient Web-based electronic signature services for companies serving the equipment leasing market. As a leading technology provider to equipment leasing brokers/lessors and an active member of the United Association of Equipment Leasing (UAEL), Preferred Business Solutions is well positioned to help drive the advantages of e-signature processes throughout the industry.
DocuSign Express provides a simple secure service that enables companies to deliver documents for certified delivery or electronic signatures to anyone who has email and a browser. Senders simply “print” documents into a DocuSign Express “Instant Envelope” using a process similar to a standard print driver. They then place Stick-eTabs™ wherever the recipient’s signature or initials are needed. When the document is “sent” the contents are encrypted and stored in a secure repository on a central server. Recipients are then invited via email to authenticate, review and sign the documents using a unique “Electronic Signature Stamp” created just for them.
DocuSign Express fully complies with all requirements of the federal ESIGN legislation (Electronic Signatures in Global and National Commerce act) enacted in 2000, which mandates that online signing provide the same legal effect as paper-based signatures.
According to Preferred Business Systems president, Jim Buckles, “Finally our customers have a way of delivering agreements for signatures instantly and insuring that documents are executed correctly the first time. Customer service is critical in this market and the ability to complete contracts more quickly means both faster deployment of needed equipment and higher revenues for the brokers/lessors. In addition, because DocuSign Express is a hosted service with a pay-per-usage model, there are no start-up costs or other barriers for our customers to get started immediately.”
According to Court Lorenzini, CEO of DocuSign, “The DocuSign Express architecture is designed to allow seamless delivery and signing of any document from any application, making it easy to integrate within existing line-of-business processes. We are very pleased with the leadership demonstrated by Preferred Business Solutions and the UAEL in recognizing the inherent benefits of e-signature processes. In response, we are offering UAEL members a 30-day trial of the service with establishment of a new account.”
Jim Coston, President of UAEL added, “The interest in DocuSign Express has been great and we look forward to the benefits of efficient e-signature services being available to our members.”
DocuSign, Inc. was founded in 2003 with the fundamental goal of enabling any document to be sent for electronic signature as easily as it could be printed. During 2003, DocuSign acquired the assets of DocuTouch, a pioneer in electronic signature technology since 1998 that had already invested more than $10 million in development of the internal processes used to secure, encrypt, and distribute electronic documents. DocuSign has leveraged these technology assets and associated patents into a unique user-friendly Web-based service that simplifies and speeds the process of sending, signing and storing legal documents. For more information on the DocuSign Express service, visit the DocuSign Web site at www.docusign.com .
About Preferred Business Solutions
PBS is a software sales and service organization specializing in the continued support of computer automation to the Equipment Leasing Broker/Lessor. Our expertise is in the Advantage family of products (formerly System 1 Software) as well as 3rd party programs used in conjunction with Advantage products, such as alaQuote, our custom web-based quoting and application tool. For more information, visit the PBS Web site at www.pbs4u.com
For more information, contact:
Tom Gonser, Founder and Executive VP
Phone: (206) 223-8251
Jim Hunt, SitMark
Phone: (253) 857-7242
Preferred Business Solutions
Jim Buckles, President
Preferred Business Solutions
Phone: (206) 775-6591
### Press Release ###############################
Resource America, Inc. Reports Operating Results for Second Fiscal Quarter Ended March 31, 2004
PHILADELPHIA----Resource America, Inc. (NASDAQ:REXI) (the "Company") reported net income from continuing operations of $6.8 million and $10.6 million for the second fiscal quarter and six months ended March 31, 2004 as compared to $3.1 million and $4.9 million for the second fiscal quarter and six months ended March 31, 2003, an increase of $3.7 million and $5.7 million, respectively. Net income from continuing operations per common share-diluted was $.37 and $.59 per common share for the second fiscal quarter and six months ended March 31, 2004 as compared to net income from continuing operations per common share-diluted of $.18 and $.28 per common share for the second fiscal quarter and six months ended March 31, 2003, an increase of $.19 and $.31, respectively.
Earnings before interest, taxes, depreciation, depletion and amortization (EBITDDA) were $15.2 million for the second fiscal quarter ended March 31, 2004 as compared to $10.7 million for the second fiscal quarter ended March 31, 2003, an increase of $4.5 million (42%). The following reconciles EBITDDA to our income from continuing operations for the second fiscal quarters ended March 31, 2004 and 2003.
-- The Company's equipment leasing division increased its lease
originations to $20.0 million in the second fiscal quarter
ended March 31, 2004, as compared to $4.8 million in the
second fiscal quarter ended March 31, 2003, an increase of
$15.2 million (317%).
-- Equipment leasing assets under management increased to $89.3
million as of March 31, 2004, an increase of $64.9 million
(265%) from March 31, 2003.
full press release available at:
CONTACT: Resource America, Inc., Philadelphia
Steven Kessler, 215-546-5005
### Press Release #############################
This Day in American History
In the early days of the English colonies, trade was a one-way street. The colonists badly needed supplies from the homeland. Historians note that unfortunately, some of the earliest pioneers, as at Jamestown, were adventurers interested more in making a quick fortune from the alleged riches of the New World than in engaging in agriculture or forestry. In late years, through a great diversity of settles arrived and brought with them a variety of skills. They ranged from wealthy Englishmen, who wanted to carve out large estates, to servants. Merchants saw the opportunity for trade as populations grew. Groups seeking religious freedom were also prominent, bringing with them a tradition of hard work and a willingness to start life anew.
As a side comment to this, a measure of social position among the male settlers of Jamestown was the fact that of some 105 men, 35 were considered gentlemen, persons whose means freed them from the need to work or engage in trade. The second expedition to Jamestown contained 33 gentlemen out of 120. In the early
days, a gentleman was a “high rank” in society and to be one greatly admired
1771-Robert Owen, English progressive owner of spinning works, philanthropist, Utopian socialist, founder of New Harmony, IN, born at Newtown, Wales. Died there Nov 17,1858. http://robert-owen.midwales.com/
1796-In the 18th century, smallpox was a widespread and often fatal disease. Edward Jenner, a physician in rural England, heard reports of dairy farmers who apparently became immune to smallpox as a result of exposure to cowpox, a related but milder disease. After two decades of studying the phenomenon, Jenner injected cowpox into a healthy eight-year-old boy, who subsequently developed cowpox. Six weeks later, Jenner inoculated the boy with smallpox. He remained healthy. Jenner called this new procedure vaccination, from vaccinia, another term for cowpox. Within 18 months, 12,000 people in England had been vaccinated and the number of smallpox deaths dropped by two-thirds. . Inoculations were begun
in the United States where the spread of smallpox had wiped out entire communities, particularly Indian tribes.
1804-Charged by President Thomas Jefferson with finding a route to the Pacific, Meriwether Lewis and Captain William Clark left St. Louis. They arrived a the Pacific coast of Oregon in November, 1805 and returned to St. Louis, September 23, 1806. http://www.pbs.org/lewisandclark/
1856-Liutenant David Dixon Porter of Chester, PA, arrived at Indianola, Texas with camels imported for military purposes form Ismir, Turkey on the ship “Supply,” a Navy store ship. The shipment consisted of 34 camels---one more than left Smyma. ON March 3, 1855, Congress had appropriated $30,000 to the War Department for the purchase and importation of camels and dromedaries to be employed for military purposes.
1863- Setting aside their own cry for equality, Susan B. Anthony and Elizabeth Cady Stanton called a meeting of the Women's National Loyal League that would gather hundreds of thousands of petitions calling for a Constitutional amendment to abolish slavery.
1874-this one event created a lot of “firsts”, starting with the first football goalpost when McGill University and Harvard University squared off at Jarvis Field, Cambridge, MA. The teams played rugby football under Harvard’s rules, which stated that every goal constituted a game. McGill arrived with 11 men and Harvard with 15, four of whom were dropped to equalize the teams. Harvard won three games, the first two lasting about five minutes and the third about 12 minutes. As McGill is located in Montreal, Canada, this was also the first international rugby football contest to be played, as well as the first instance in which an admission fee was charged at a collegiate sporting event. The proceeds were used for “lavishly” entertaining the McGill team. A second match was played the following day, and a third match was played in the fall in Montreal.
1887-Massachuetts required under the Employers Liability Act, passed this day, for all accidents be reported by employers concerning personal injuries suffered by employees in their services.
1893—birthday of guitarist Pop Stoneman, Galaxy, VA http://www.fmp.com/orthey/stoneman.html
1897- the unveiling of a statue of George Washington at Philadelphia, PA, and President William McKinley was present. John Phillip Sousa wrote a march for the event, which is perhaps his most widely known,” The Stars and Stripes Forever.” He was in the U.S. Navy, stationed in Great Lakes, Illinois
1897-Soprano sax player Sidney Bechet birthday
1898-drummer Zutty Singleton born Bunkie, LA. http://www.dws.org/sousa/
1902- (Helen) Flanders Dunbar birthday - U.S. psychiatrist. 4'11". She earned four advanced degrees in seven years including a Ph.D. in philosophy, a B.D, and then added a medical degrees in 1930. Dunbar integrated religion, science, medicine and psychiatry to head the Council for the Clinical Training of Theological Students. Her chief legacy regards psychosomatic approach to illnesses - a study that showed distinctive personality profiles for each disease. She also uncovered the emotional disturbance of accident prone people. Her “Mind and Body “(1947) is a summation of her findings and considered a classic in modern psychiatry.
1904-The first Olympic Games held in the United States was the Third Olympiad, held in St. Louis, MO, from this day to August 1, 1904. The games were first awarded to Chicago, IL., but were later given to St. Louis to be staged in connection with the World’s Fair. There were few entrants other than Americans in the 14 events. In the field competitions, the American athletes made a clean sweep of all the events with the exception of lifting the bar and throwing the 56-ound weight.
1913 - John D. Rockefeller made the largest gift of money (to that time) by establishing the Rockefeller Foundation for $100,000,000. The foundation promotes “the well-being of mankind throughout the world.”
1920-Pitcher Walter Johnson of the Washington Senators considered by some to be the greatest pitcher of all time and the faster, won the 300th game of his career, beating the Detroit Tigers, 9-8. Johnson played in the major leagues from 1907 through 1927. He compiled a record of 417 wins against t279 losses with an earned run average of 2.17..
1930-Located in southwester New Mexico, Carlsbad Caverns was proclaimed a national monument. October 25, 1923, and later established as national park and preserve. http://www.carlsbad.caverns.national-park.com/
1936-Singer Bobby Darin, whose real name was Walden Robert Cassotto, was born in the Bronx, New York City. Darin's big break came in 1958 when he wrote and recorded "Splish Splash," which reached number three on the US charts and sold a million copies. His other hits included "Queen of the Hop" and "Mack the Knife." At the beginning of the '60s, he made the transition from teen idol to a more mature star who performed in Vegas nightclubs. Bobby Darin died on December 20th, 1973 after heart surgery.
1937 - Duke Ellington and his band recorded the classic, "Caravan", for Brunswick Records.
My Foolish Heart - The Gordon Jenkins Orchestra (vocal: Eileen Wilson)
It Isn’t Fair - The Sammy Kaye Orchestra (vocal: Don Cornell)
The Third Man Theme - Alton Karas
Long Gone Lonesome Blues - Hank Williams
1951—Comedian Ernie Kovacs first hosted "It's a Time for Ernie", a 15-minute afternoon program on NBC in May of 1951 before replacing the "Kukla, Fran and Ollie Show" with "Ernie in Kovacsland." Kovacs also appeared on a variety of daytime and prime-time series and was a fill-in for Steve Allen on the "Tonight!" Show. One of his most famous skits was The Nairobi Trio! He early shows featured his wife, Edie Adams, who smoked a cigar later in commercials, in a seductive manner, saying she liked men who smoked cigars. I will never forget Ernie Kovacs reduced very small and superimposed over his wife, looking down who low cut dress. He died in a freakish accident in Beverly Hills, not driving fast, but on a rainy road ramming into a telephone poll where the climbing rung was left and it pierced the driver's door, killing the great comedian.
1951- saxophonist Jay Beckenstein born Brooklyn, NY, leader of the jazz-pop band Spyro Gyra.
1956- Mercury Records released the first LP by the Platters. They had just scored on the charts with "Only You" and "The Great Pretender." I bought it, and still
have it to this day.
1957 - The musical, "New Girl in Town", opened at the 46th Street Theatre in New York City. Thelma Ritter and Gwen Verdon starred in the Broadway adaptation of Eugene O’Neill’s "Anna Christie". "New Girl in Town" had a run of 431 performances.
All I Have to Do is Dream - The Everly Brothers
Wear My Ring Around Your Neck - Elvis Presley
Return to Me - Dean Martin
Oh Lonesome Me - Don Gibson
1959-In a melding of classical ballet and modern dance, George Balanchine’s and Martha Graham’s “Episodes” premiered. A new experience for ballet enthusiast, half of the program was choreographed by Balanchine and the other half by Graham.
Monday Monday - The Mamas & The Papas
Rainy Day Women #12 & 35 - Bob Dylan
Kicks - Paul Revere & The Raiders
I Want to Go with You - Eddy Arnold
1966-- The Kingsmen's "Louie Louie" on pop charts since '63, enters the Hot 100 for the ninth & last time with a re-released version. Incites controversy over its unintelligible, but assumed obscene lyrics: "Smash your left hand down about right here three times, then twice up in this area, then three times right about here . . . that's "Louie Louie."
1967--- Mickey Mantle's 500th career home run off of Stu Miller helps the Yankees defeat the Orioles, 6-5. The 'Commerce Comet' is the sixth big leaguer to reach this plateau.
1970- Crosby, Stills, Nash and Young announced their breakup before a performance in Chicago. The band - minus Neil Young - would regroup several times during the next dozen years. And all four would get together again in 1988 for the hit single and album "American Dream."
1973-The House of Representatives received formal approval of the appointment of female pages in 1972. Today the 934d Congress, appointed Felda Looper as the successor to Gene Cox, who, for three hours, had served as the first female page 34 years earlier.
The Loco-Motion - Grand Funk
The Streak - Ray Stevens
Dancing Machine - The Jackson 5
Is It Wrong (For Loving You) - Sonny James
Chariots of Fire - Titles - Vangelis
Ebony and Ivory - Paul McCartney with Stevie Wonder
Don’t Talk to Strangers - Rick Springfield
Always on My Mind - Willie Nelson
1985 - The first McDonald’s restaurant -- in Des Plaines, IL -- became the first museum of the fast-food business. McMannequins, McPosters and loads of McPhotos display years of hamburger McProgress http://www.mcdonalds.com/countries/usa/corporate/info/museum/index.html
Nothing Compares 2 U - Sinead O’Connor
Vogue - Madonna
All I Wanna Do is Make Love to You - Heart
Help Me Hold On - Travis Tritt
1996-Basketball player Earvin “Magic” Johnson announced his retirement for the second time form the Los Angeles Lakers. Johnson had first retired before the start of the 1991-92 NBA season when he learned he was HIV-positive. Other players rebuffed his attempts to come back for the 1992-93 season, but he did play 32 games in 1995-96.
While we “celebrate “birthdays, today is an exception, Frank Sinatra, 82, dies in Los Angeles, 1998. The Chairman of the Board has left the room.
NBA Finals Champions This Date
1981 Boston Celtics.
THE GREATEST HITTER THAT EVER LIVED
by Ken Wasnock
( He is “The Kid,” “The Splendid Splinter,” “Thumper,” “Teddy Ballgame,” he is Theodore Samuel Williams, the greatest hitter who ever lived, the last of the .400 hitters.)
made his name with a stick of ash,