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Like selling vendor programs and large transactions? CLICK HERE to find out how to have fun again. |
Monday, May 4, 2009
Actor/Singer/Songwriter Randy Bruce Traywick (Randy Travis) born May 4, 1959 Marshville, North Carolina. Grammys for Best Male Country Vocal Performance (1987 and 1988), Best Country Song (1988's "Forever and Ever, Amen") and Best Southern, Country or Bluegrass Gospel Album |
Headlines---
Classified Ads---Sales
The $40,000 Church Kiosk
Pugent Sound reason for $18.3MM Y/E Loss
Bank Beat—FDIC cost $1.3B loss in takeover
Classified Ads---Help Wanted
Leasing Association Membership Down
by Christopher Menkin
Leasing News Top Stories--April 27--May 1
Leasing 102 by Mr. Terry Winders, CLP
Residuals vs. Purchase Options
Mortgage Rates lowest since 1971
ELFA Legal Forum Excellence Award
ING Lease results marked by “sharp fall”
Dell, HP - big market in smaller companies
Trustee sues Madoff feeder fund mgr for $1B
News Briefs---
You May have Missed---
California Nuts Brief---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
Baseball Poem
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
National Association of Equipment Leasing Brokers Las Vegas
Conference story in Wednesday edition. Look for it May 6th.
######## surrounding the article denotes it is a “press release”
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Classified Ads---Sales
| Cherry Hill, NJ College grad seeking entry level sales position for equipment leasing and financing in small to mid-size ticket markets. Have 6 months experience in the industry and self-motivated. Contact Matt at 609-280-2178 or email at mkuzan@gmail.com |
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Fort Myers, Florida |
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Fresno, CA |
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Minneapolis, MN |
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| Montgomery, AL Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama. Work with leasing company or broker.334-590-5133 E-mail: billmcneal2003@yahoo.com |
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Open |
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Orange County, CA |
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Oklahoma |
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Philadelphia, PA |
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| Philadelphia Metro Area - 30 Years experience Healthcare sales/ management- 3 years experience newly create "small-ticket" healthcare division. Good success - Mitch Utz 215-460-4483 Email: mitutz@msn.com |
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| Pittsburgh , PA Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592 mwiser500@hotmail.com |
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Pittsburgh, PA |
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San Francisco Bay Area: |
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| Texas/Oklahoma 15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested. E-mail: bankingdallas@yahoo.com |
For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
To place a free “job wanted” Leasing News ad:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm
ELFA Career Center: Job Seekers ( free ):
http://careers.elfaonline.org/search.cfm
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The $40,000 Church Kiosk
(Ecclesia Christian Fellowship pastor Rev. Joshua Beckley
whose church was among the 30 defrauded in the Southland
says the kiosks were nothing more than a low-end monitor
and printer that rarely worked.
Photograph: Black Voice News, Riverside, California.)
Yes, this is the $40,000 church kiosk that Balboa Capital, Chesapeake Industrial Leasing and United Leasing of America approved. Their due diligence found this collateral leasable for a $40,000 48 month contract.
Fifty African-American churches on the East Coast, as well as 300 churches in Maryland, Michigan, Indiana, Ohio Wisconsin, Texas and California signed off on a $40,000, 48-month contract with Balboa Capital Corp. Irvine, California, United Leasing Associates of America of Brookfield, Wisconsin and Chesapeake Industrial Leasing of Baltimore as well as other leasing companies. The Michigan Attorney General has been active in the investigation and the Washington, DC Attorney General Peter Nickles filed papers regarding fraud, accusing Television Broadcasting Online, Inc. (TVBO) and its subsidiary Urban Interfaith Network, as well as the leasing companies involved.
The kiosks were to be in the church foyer, allowing members to access church information and community activities. Perhaps a bulletin board would have received more attention. The Kiosk monthly payment was to work out being “free,” being supported by advertisements. The churches relied on Television Broadcasting Online, after all they were backed by the leasing company as being legitimate, in addition they found the collateral having value? Why else would they enter into a so-called “partnership” with Television Broadcasting Online, Inc.?
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Pugent Sound reason for $18.3 Year-end Loss
In the midst of litigation with the sellers of Pugent Sound Leasing, Bellevue, Washington, as well as various banks seeking intervention, and another suit involving twelve banks and the agreements regarding assigned leases, First Sound Bank restated its year-end to a $20.1 million loss. The bank claims $18.3 is related to the acquisition of Pugent Sound Leasing.
The bank also reported a $37,000 first quarter loss for 2009, and an $11 million decrease in assets to $247 million.
"Our situation is different from other banks," Don Hirtzel, chairman and CEO, said in a press release. "Our increased losses and reserves are primarily the result of alleged misrepresentations made by the owners of Puget Sound Leasing in how they portrayed their assets to us."
The press release from the bank quoted Steve Shaughnessy, president and COO, stating "... that while the litigation to recover from the former owners of PSL continues "we are taking numerous steps to minimize the effects on our future results. The executive team and board have taken cuts in compensation up to 20%, and a salary freeze has been imposed."
Senior Vice-President/Leasing Division Manager
He also pointed out that David Johnson, a new manager is in place at the leasing division and leasing underwriting standards have been tightened. He was vice president of credit and operations for Irwin Commercial Finance's Small-Ticket Leasing Division
The bank received $7.4 million under the terms of the Troubled Asset Relief Program (TARP), Capital Purchase Program in December, 2008.
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Bank Beat—FDIC cost $1.3 Billion loss in takeover
America West Bank, Layton, Utah was closed by the Utah Department of Financial Institutions, become the 32nd bank to fail this year; the second in Utah. The FDIC made arrangements with Cache Valley Bank, Logan, Utah, to assume all of the deposits of America West and open their three branches under their name.
As of December 31, 2008, America West Bank had total assets of approximately $299.4 million and total deposits of $284.1 million. Cache Valley Bank paid a discount of $352,000 to acquire all of the deposits of the failed bank. In addition to acquiring the failed bank's deposits, Cache Valley Bank agreed to purchase approximately $10.9 million in assets, with a 30-day option to purchase loans at book value. The FDIC will retain any remaining assets for later disposition.
The FDIC estimates that the cost to the Deposit Insurance Fund will be $119.4 million.
http://www.fdic.gov/news/news/press/2009/pr09063.html
Citizens Community Bank, Ridgewood, New Jersey, was closed today by the New Jersey Department of Banking, becoming the 31st bank to fail this year. The FDIC appointed North Jersey Community Bank, Englewood Cliffs, New Jersey, to assume all of the deposits of Citizens Community Bank. The bank's sole office will open up today, Monday, as a branch office.
As of December 31, 2008, Citizens Community Bank had total assets of approximately $45.1 million and total deposits of $43.7 million. North Jersey Community Bank paid a premium of 0.67 percent to acquire all of the deposits of the failed bank. In addition to acquiring the failed bank's deposits, North Jersey Community Bank agreed to purchase approximately $11.5 million in assets. The FDIC will retain any remaining assets for later disposition.
The FDIC estimates that the cost to the Deposit Insurance Fund will be $18.1 million
http://www.fdic.gov/news/news/press/2009/pr09062.html
Perhaps the most costly take over this year (The FDIC estimates that the cost to the Deposit Insurance Fund will be $1.3 billion), the Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Silverton Bank, National Association, Atlanta, Georgia, after the bank was closed today by the Office of the Comptroller of the Currency (OCC). TIB-The Independent Bankers Bank, Irving, Texas, was contracted by the FDIC to provide operational management of Silverton Bridge Bank, N.A. TIB is owned by smaller banks and has more than 1,400 bank customers in 46 states.
Founded in 1986, Silverton Bank did not take deposits directly from the general public nor did it make loans to consumers. It was a commercial bank that provided correspondent banking services to its client banks, serving 1,500 small banks in 44 states and operated six regional offices.
The bank grew largely on providing lines of credit and other services to banks, but also by selling customers so-called loan participations, or pieces of larger loans parceled out into smaller chunks. Loan participations allow small banks in deposit-rich, loan-poor areas to grow by buying into loans from other areas. It provided a variety of services for its clients, including credit card operations, clearing accounts, investments, consulting, purchasing loans, and selling loan participations. Since the FDIC created a new bank to take over the operations of Silverton Bank, there is not expected to be any meaningful impact on the bank's clients.
Silverton was cooperatively owned by community banks throughout the Southeast. The bank was heavily invested in loans to real estate developments in Florida, Georgia, plus other parts
of the Southeast.
At the time of its closing, Silverton Bank had approximately $4.1 billion in assets and $3.3 billion in deposits, all of which are expected to be within the FDIC's insurance limits.
Silverton Bank is the 30th bank to fail in the nation this year and the sixth in Georgia this year; tenth within the last year.
http://www.fdic.gov/news/news/press/2009/pr09061.html
List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html
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Classified ads---Help Wanted
Leasing Account Executive
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LEASING ACCOUNT EXECUTIVE
Seeking an experienced Leasing Professional who has: Home State Leasing Corporation, a subsidiary of Home State Bank, N.A., has been serving the needs of our clients since 1915.
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Sales
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Like selling vendor programs and large transactions? CLICK HERE to find out how to have fun again. |
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Leasing Association Membership Down
by Christopher Menkin
End of year 2008 Membership Count:
1021 National Association of Equipment Leasing Brokers (NAELB)
700 Equipment Leasing and Finance Association (ELFA)
289 United Association of Equipment Leasing (UAEL)
265 Association of Government Leasing & Finance (AGLF)
183 Eastern Equipment and Leasing Association (EAEL)
It should not be any surprise to readers that when CIT, GE, and many other leasing and financial companies report business being down, the leasing association membership should be down, too. Especially when within the last year there are 32 companies no longer in the leasing business. This does not include changes in captive lessors or those who no longer accept indirect or broker business.
End of March, 2009
( renewals of membership)
The real surprise should be the drop in membership in the merger of EAEL and UAEL from a combined total of 472 t0 231.
Leasing News had great difficulty in attempting to get the numbers from the management group now in charge of NEFA, starting April 16th; many emails, and telephone calls. While the other associations were quite prompt, it finally took a call to former UAEL president Joe Woodley, CLP, who had the numbers within an hour to Leasing News:
" UAEL end of 2008 was 289 members. EAEL had 183 at the end of 2008. Approximately, they can't really tell us clearly, 60 some members, were members of each association.. At the end of .arch 2009, NEFA has 233 renewals and new members, "Joe sent from his Verizon Wireless Blackberry." The encouraging thing is many decided not to go to Orlando, they will renew and will be in Monterey, if they are still in business. If you need anything else, please contact me directly,"
The numbers indicate it certainly appears a mistake to have let long time leasing veteran and membership professional Bill Grohe go. He not only brought in new members, kept new members happy, and worked the telephones for better attendance at UAEL events. I can tell you when it came to regional meetings, he would call you two or three times, even after you said you weren't going. Talk about persistence and salesmanship. He would finally talk you into attending, and a member who wanted to leave UAEL, you didn't!!!
Membership numbers were not available from the National Vehicle Leasing Association. It should be noted they cancelled their June 10, 2009 Annual Convention, and that should tell you enough. Vehicle sales are down, so is leasing, fleet sales, too. At one time they had between 200 and 250 members.
Cindy Spurdle, Executive Director of the Certified Leasing Profession Foundation reported: "At the end of 2008 there were 179 CLP's in Good Standing. At the end of our first quarter there were 176 CLP's in Good Standing. The term 'In Good Standing' means that each CLP is current with their dues and recertification's and are actively involved in our industry."
The prior year it was at 204, a drop of 28 to the first quarter, which means 2009 CLP President Theresa Kabot, CLP, has her work cut out this year to replace those, primarily no longer in the leasing business.
Perhaps most seriously affected was the Equipment Leasing and Finance Association, with a large professional staff, a very active unit involved not only in education, services, information, but active in Washington and the fifty states in behalf of the leasing and finance industry. President Ken Bentsen, Jr. has certainly been getting the association name before the public in his many radio, television, and the print news media, plus raised the association influence quite a bit during his tenure.
"We ended 2008 with 700 members, whom we billed for 2009 renewal. To date 79% have renewed vs. 83% at the same time last year, " reported Donald Ethier, CAE, ELFA Vice President, Membership and Marketing . "Renewals are still coming in and we expect to end up in the low to mid 80's, vs. a final renewal rate of 87% for 2008. Our membership count now is 579."
Under the circumstances, Ethier has done an outstanding job, although the numbers might lead you to another conclusion. To get the truth, look at the stock market price of many of ELFA members, not counting the many banks and independents. He and his committee, volunteers, should be commended for the results. The core group is very supportive.
Today
NAELB membership numbers have dropped 181, but are basically in line with what other leasing associations are reporting.
"Obviously the economy hit us harder on membership renewals than in years past but we still have the same dues rates as always and our conference rates have not gone up in at least five years either,” Monica Harper, Executive Administrator, National Association of Equipment Leasing Brokers, told Leasing News.” I guess we are all in the same boat."
NAELB Membership Dues:
Broker $295
Associate $600
Funding Source $750
It should also be noted that the Association of Government Leasing and Finance had It should also be noted that the Association of Government Leasing and Finance had 277 members representing 118 companies in 2007, which would change their rating in the group, especially compared to ELFA whose member GE Capital, among some other top companies, belong only to ELFA and is counted as one member (although many from the company are active at ELFA. In reality, Leasing News was told AGLF still has their renewals open so the current count is officially also their year-end count. It was noted that even though the May 6-8 Conference at the Brown Palace Hotel Denver, Colorado is a joint one with ELFA, they only had 125 registered at the time.
Arizona Equipment Leasing Association at one time had 40 members. One member reported it was down to 25, but that is not official, and Leasing News was not able to get an official count at press time. This is primarily independents who's companies are located in Arizona.
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Leasing News Top Stories---April 27--May 1
Leasing News Top Stories---April 20-24
Here are the top ten stories opened by readers:
(1) Unbelievable Bulletin Board Complaint
http://www.leasingnews.org/archives/April%202009/04-20-09.htm#bbc
(2) $40 Million Fraud/Leasing Founder Assets Frozen
http://www.leasingnews.org/archives/April%202009/04-24-09.htm#40
(3) Alert—Greystone $2-$3 Million Not Funded?
http://www.leasingnews.org/archives/April%202009/04-20-09.htm#alert
(4) Unbelievable Bulletin Board Complaint –Up-Date
http://www.leasingnews.org/archives/April%202009/04-24-09.htm#bbc
(5) US Bancorp 51% 1st Q Loss/Lease Losses Up
http://www.leasingnews.org/archives/April%202009/04-22-09.htm#bancorp
(6) How's Business---Don't Ask!
by Christopher Menkin
http://www.leasingnews.org/archives/April%202009/04-22-09.htm#ask
(7) OFC Capital Downsizes
http://www.leasingnews.org/archives/April%202009/04-24-09.htm#ofc
(8) (tie)
Letters Criticize “Anonymous” Larkins" letter
http://www.leasingnews.org/archives/April%202009/04-20-09.htm#letter
(8) (Tie)
Sales makes it Happen--by Kit Menkin
Cold Calling----Part II
http://www.leasingnews.org/archives/April%202009/04-22-09.htm#sales
(9) (tie)
Cartoon—Greystone Department Head Meeting
http://www.leasingnews.org/archives/April%202009/04-20-09.htm#toon
(9) Wells Profit is Vanishing
http://www.nypost.com/seven/04232009/business/wells_profit_is_vanishing_165729.htm
(10) Key Loans and Leases off 1st Quarter
http://www.leasingnews.org/archives/April%202009/04-22-09.htm#key
Here are the top ten stories opened by readers:
(1) Bulletin Board Complaint
IFC Credit Corp. dba First Corp.
http://www.leasingnews.org/archives/April%202009/04-29-09.htm#bbc
(2) Bulletin Board Complaint--Up-Date
IFC Credit Corp. dba First Corp
http://www.leasingnews.org/archives/May%202009/05-01-09.htm#bbc
(3) Blackberry, Handheld Device Users
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#hand
(4) (Tie)
Greystone Closed?
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#grey
(This story was not that well read, but actually should be part of (4):
Greystone says goodbye to Leasing
by Christopher Menkin
http://www.leasingnews.org/archives/May%202009/05-01-09.htm#grey
(4) (Tie)
Marlin! Oh, Marlin! Rise up & Hear the Bells
http://www.leasingnews.org/archives/May%202009/05-01-09.htm#marlin
(5) Pugent Sound/Secords/Larasco/12 Banks +
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#pug
(6) Envision Capital Group Secures Credit Facility
http://www.leasingnews.org/archives/April%202009/04-29-09.htm#ecg
(7) In Defense of Benny Judah/Excel Leasing
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#def
(8) Bank Beat---Four more Banks Fail
http://www.leasingnews.org/archives/April%202009/04-27-09.htm#beat
(9) Cartoon—I tried to hijack a US ship
http://www.leasingnews.org/archives/April%202009/04-29-09.htm#toon
(10) Sales Makes it Happen---by Linda P. Kester
Vendor Follow-Up
http://www.leasingnews.org/archives/April%202009/04-29-09.htm#sales
Extra: Not counted for technical reasons
Shareholders Oust Bank of America Chief as Chairman
http://www.leasingnews.org/archives/April%202009/04-29-09a.htm
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Leasing 102
by Mr. Terry Winders, CLP
Residuals vs. Purchase Options
In a funding market that we are in today lessors are finding it hard to find a location to sell a transaction with a residual. Therefore most transactions in the small and middle market that are not funded by a captive are only offering $1 out leases or transactions that only qualify as a capital lease. This type of capital lease, for accounting, requires the lessee to depreciate the present value of the rent stream over the lessee’s average useful life, for the equipment, regardless of the lease term. This could be very short sited for the Lessor because when the lease term is over the lessee may still have months to go on the depreciation and be reluctant to replace the equipment and suffer a book loss. The answer to solving this program is to not give the lessee a bargain purchase option. If the option is not a bargain and it fails the 90% test it is still a Capital lease for accounting but the depreciation is limited to the lease term. An example is data processing equipment that is usually depreciated over 60 months for book but usually has a lease term of 36 to 42 months.
I know you will argue with me that no lessee will accept a FMV or high fixed price purchase option because without a residual their payments would be higher or at least equal to equipment financing. To combat this, offer them a trade- up option or a trade-in option and indicate that whatever the equipments worth at termination will be used to lower your cost on the next piece of equipment giving them a lower payment. They get the same benefit equipment financing would provide but they can depreciate the equipment for book purposes over the “actual” term of the lease instead of over its useful life. This ties depreciation and interest expenses to the term of the lease and not to some artificial term with a salvage value established by accountants. In addition it saves your customer because they have to come back to you to get the benefit. It they exercise the purchase option to go elsewhere you may pocket some extra income.
On the tax front remember that you should always restrict your residuals to 80% of the purchase option, or less, to show you expect to receive a profit from the sale of the equipment, at termination, so as to not fall into the IRS trap that the economics of your transaction is the same as a loan and therefore a disguised conditional sales contract (if the residual and purchase option are the same).
Another problem with people new to our business is that they think the purchase option amount or percentage is cut in stone. The word “option” means the lessee can negotiate with you on the actual sales price. Do not kid yourself, the lessee knows that even thought they must return the equipment to you in good condition (assuming you have good return language)you are not a seller of that type of equipment and will be lucky to get wholesale for it and must deduct selling expenses such as insurance, storage, advertising, commissions, and maybe the cost of time as your investment sits there waiting to be sold while interest continues to build. They will compute a purchase price that they think is fair and as long as it exceeds your residual you will probably accept it.
Residuals are very much a part of leasing but to get a funder in position to accept your residual position you need a completed “use and description form” and provide evidence that you have investigated the impact of that use on the equipments value over the term of the lease plus some indication of how to expect to remarket the equipment at termination. I know that no residual means no risk but leasing is not equipment finance and if you want to be successful in leasing you need to understand the fundamentals and the wonderful reasons companies lease and how they fit into different types of leases for accounting, tax and legal.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666.
He invites your questions and queries.
Previous #102 Columns:
http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm
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Mortgage Rates lowest since 1971
Freddie Mac reports the 30 year fixed mortgages are now 4.78% from last week's 4.8%, the lowest since the survey began in 1971.
Frank Nothaft, Freddie Mac's chief economist, said the low rate means that those who refinance a $200,000 loan would save almost $212 in monthly mortgage payments and more than $2,500 per year.
The average rate on a 15-year fixed-rate mortgage was 4.48 percent this week, unchanged for the third straight week.
Rates on five-year, adjustable-rate mortgages fell to 4.80 percent from 4.85 percent last week — the lowest since Freddie Mac began tracking it in January 2005.
Average rates on one-year, adjustable-rate mortgages fell to 4.77 percent from 4.82 percent last week.
The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for every type of mortgage mentioned in Freddie Mac's survey except for the five-year adjustable rate mortgage, which averaged 0.6 point.
30-year fixed mortgages, the most popular loan among home buyers, slid to 4.78 percent from 4.8 percent last week, Freddie Mac said. Last year at this time, the average rate on a 30-year mortgage was 6.06 percent.
The all-time low of 4.78 percent was recorded the week of April 2. Freddie Mac's annual survey dates back to 1971.
Freddie Mac also said the average rate on a 15-year fixed-rate mortgage was 4.48 percent this week, unchanged for the third straight week.
Rates on five-year, adjustable-rate mortgages fell to 4.80 percent from 4.85 percent last week — the lowest since Freddie Mac began tracking it in January 2005.
Average rates on one-year, adjustable-rate mortgages fell to 4.77 percent from 4.82 percent last week.
The rates do not include add-on fees known as points. The nationwide fee averaged 0.7 point last week for every type of mortgage mentioned in Freddie Mac's survey except for the five-year adjustable rate mortgage, which averaged 0.6 point.
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ELFA Legal Forum Excellence Award
Equipment Leasing and Finance Association (ELFA) President Kenneth E. Bentsen, Jr. is very pleased to congratulate ELFA members for whom awards for exemplary work and demonstrated best practices have been recently announced:
- ELFA Annual Legal Forum and Excellence in Leasing Award:
The ELFA Annual Legal Forum brought together internal and outside legal counsel at the premier legal event for the equipment finance industry. Updates on current legal issues and trends in the industry were featured. Industry segment roundtables provided the opportunity to share ideas on key industry and legal matters. An important element of the Legal Forum is the presentation of the ELFA Excellence in Leasing Award. The ELFA Excellence in Leasing Award is given each year to an exemplary attorney at the ELFA Legal Forum and this year, Marshall Goldberg, Partner, Glass & Goldberg - A Law Corporation, of Woodland Hills, California was presented with the award. Marshall has served on the Legal Committee, the Credit and Collections Management Committee and as a member of the Editorial Review Board of the Journal of Equipment Lease Financing. He is currently the Chairman of the Professional Development, Education and Information Sub-Committee for the ELFA Legal Committee.
- ELFA’s Operations & Technology Excellence Award:
The ELFA’s O&TE Award Program identifies and recognizes equipment leasing and finance companies that have demonstrated best practices in developing and implementing innovative uses of technology or creative business processes to improve operations, enhance customer interactions, enter new markets and build overall ROI. The program brings the backroom to the foreground spotlighting the best in the industry as an example for others. The O&TE Award subcommittee selected winners for the O&TE Award Program and announced them April 30. Projects submitted by Key Equipment Finance and PHH Arval won the award, which will be presented during ELFA’s Operations & Technology Conference, to be held May 13-15 in San Antonio, TX. Winning projects will be showcased in sessions during the conference. “Equipment finance companies have long recognized the value of developing best practices to improve processes and performance for their organizations and the industry,” said Joan Simpson, Sr. Manager, Cisco Systems Capital Corporation and O&TE Award Committee Chair. “The achievements of this year’s winners, Key Equipment Finance and PHH Arval represent outstanding examples of value creation and the importance of continuing to invest in their operations, even in a time of economic downturn.”
#### Press Release ##############################
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News Briefs----
ING Lease results marked by “sharp fall”
http://www.leasinglife.co.uk/articles/article.asp?x=4983&mid=4&smid=&cf=a&cm=
Dell, HP sees a big market in smaller companies
http://www.usatoday.com/money/industries/technology/2009-05-03-dell-hp-
small-business_N.htm
Trustee sues Madoff feeder fund manager for $1 billion
http://www.usatoday.com/money/markets/2009-05-01-ponzi-madoff-lawsuit_N.htm
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You May have Missed---
An invention that could change the internet for ever
http://www.independent.co.uk/life-style/gadgets-and-tech/news/an-invention-that
-could-change-the-internet-for-ever-1678109.html
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California Nuts Briefs---
Sawmill layoffs topple a way of life
http://www.sacbee.com/topstories/story/1829508.html
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“Gimme that Wine”
One-of-a-kind Wine Experience Opens in Napa Valley
http://sev.prnewswire.com/travel/20090429/SF0541429042009-1.html
Uncorked: 10 etiquette tips for wine tastings
http://www.onmilwaukee.com/bars/articles/uncorked043009.html
Vinfolio Launches WinePrices.com Fine Wine Indexes
http://www.prweb.com/releases/wpfinewineindexes/409/prweb2374904.htm
‘The California Directory of Fine Wineries’ is a fine companion for your next road trip
http://www.napavalleyregister.com/articles/2009/05/01/wine/doc49fa424f944c8259445539.txt
Lafite's price rockets as Parker releases
http://www.decanter.com/news/281756.html
Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas/\
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/
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Today's Top Event in History
1626-Dutch colonist Peter Minuit arrived on the wooded island of Manhattan in present-day New York. He bought Manhattan for $24, but from a tribe in Brooklyn, almost like buying the Brooklyn Bridge. The story has been repeated so many times school children believe the borough was bought for beads. Ironically, The Dutch had already established the town of New Amsterdam at the southern end of the island. The American Indians had no comprehension of land ownership. Shortly most of them were wiped out by small pox, influenza, and a host of diseases brought from Europe in which they had no immunity.
( lower half: http://memory.loc.gov/ammem/today/may04.html )
[headlines]
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This Day in American History
| 1494- Christopher Columbus discovered Jamaica. The Arawak Indians were its first inhabitants. This was his second journey. His first he basically discovered Cuba, and on his third Trinidad, and on his fifth trip, 1502-1504, Martinique, exploring the coasts of Nicaragua, Costa Rica, and Panama. He brought a lot of slaves back to Spain, his main find in the islands. Stanley Champions This Date 1969 Montreal Canadiens |
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Baseball Poem
The Base Stealer Poised between going on and back, pulled ----Robert Francis |
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SuDoku
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
http://leasingnews.org/Soduku/soduko-main.htm
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Daily Puzzle
How to play:
http://www.setgame.com/set/puzzle_frame.htm
Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm
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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx
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Weather
See USA map, click to specific area, no commercials
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Traffic Live---
Real Time Traffic Information
 |
You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live
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