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Leasing News is a web site that posts information, news, and entertainment for the commercial leasing and finance industry. The News Edition is updated Monday, Wednesday and Friday.

Wednesday, May 25, 2011

Today's Equipment Leasing Headlines

ACC Capital, Midvale, Utah---and NAELB
  Classified Ads---Asset Management/Controller
   Charlie Chan Saying "Contest"
  “On Deck” Business Loans---aggressive in the marketplace
 Momentum Commercial Funding Joins "Broker/Lessor List"
  Allegiant Partners announces Portfolio Purchase/Line Increase
   Classified Ads---Help Wanted
     Analysis of the Top Leasing Web Sites
     by Christopher Menkin
      Charlie Chan saying…
 Brican America evicted in bankruptcy
   Kahrnoff & Debre join Well-Known Askounis & Darcy Law Firm
     FDIC Banks Earned $29 Billion 1st Quarter of 2011
       San Antonio, Texas Adopt-a-Dog
 April Leasing New Business Volume “choppy”
News Briefs---
 Reported Fraud Jumped in Q1, Survey Finds
  New home sales edge up 7.3% in April
   But Troubled home market creates generation of renters
    Mayor Rahm Emanuel: GE Capital to bring 1,000 jobs to city
     $400,000 Penalty but Probation hidden Swiss bank accounts
      4 Convicted of Mail Fraud in Tax Shelter Case
       Hines Ward & Kym Johnson win Dancing with the Stars

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

Ted Nugget: Solutions to Immigration Challenges
You May have Missed---
   Sports Briefs
    California Nuts Briefs
     "Gimme that Wine"
       This Day in American History
         Daily Puzzle
            Weather, USA or specific area
             Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.



ACC Capital, Midvale, Utah---and NAELB
Bulletin Board Complaint---Up-Date

A check on the NAELB web site of the National Association of Equipment Leasing Membership in good standing no longer finds ACC Capital, Midvale, Utah, a member of the National Association of Equipment Leasing Brokers.

January 20, 2011 a complaint was posted from Genesis Commercial Capital, Irvine, California regarding a residual sharing split of 40/60 of $120,000, of which 40% was due to Genesis. A copy of the agreement was posted. Loni Lowder, President responded, "One time situation, no comment."

Hunter Hill, Genesis Commercial Capital, submitted a complaint to the National Association of Equipment Leasing Broker's Legal Counsel, who then contacted all parties to facilitate a reasonable resolution. It was reportedly unsuccessful and therefore went to the NAELB Ethics Committee, who without knowledge of the names of the party, gave its comments and suggestions. As Hunter Hill explained, it was thoroughly discussed, and according to the procedures, she was notified the complaint went to the full NAELB Board of Directors with the names disclosed. This then required a full discussion at a board meeting.

Asked about the outcome, Hunter Hill stated "NAELB asked ACC to pay us, but ACC chose not to."

Asked what happened then, she stated she did not know, but Genesis has not been paid.

Leasing News asked NAELB about the outcome and received the following:

"As always, thank you for your support of the NAELB. As you are aware by now, the NAELB does not make any public comment regarding decisions made about ethics matters brought to the NAELB. This has been a long standing policy of the NAELB and is especially important to preserve the integrity of the process."

Bud Callahan

Bud Callahan, CLP
National Equipment Leasing
9801 Fall Creek Road #342
Indianapolis, IN 46256
Direct Phone: 317-823-0454

Bulletin Board Complaint--ACC Capital Corporation


Classified Ads---Asset Management/Controller

(These ads are “free” to those seeking employment
or looking to improve their position)

Minneapolis, MN
16 years leasing experience from micro to large ticket market, variety of equipment. Most recently calling on vendor telecom dealers in Upper Midwest.

Santa Barbara CA (will relocate)
Experienced Asset Manager of various portfolio's for a bank, broker and leasing company. Utilized specialized remarketing companies to maximize collateral values. Worked remote two years. | Resume

| Reference 1 | Reference 2

Chicago, IL
experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating.
Southeastern, MI
Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate.

Southern CA
20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant.

Free Posting for those seeking employment in Leasing:

All “free” categories “job wanted” ads:


Charlie Chan Saying "Contest"

There are some very good entrees in this contest started last Friday.

Readers may submit either their favorite saying or one they make up that fits a current leasing story. The top ten will be chosen, with each winner receiving a prize, with number one a very good bottle of wine.

If you also do not want your name used in the announcement of being in the top ten, we will oblige and still send a prize. So you can submit "off the record."

It's easy. Send an email to me with subject: Contest


“On Deck” Business Loans---aggressive in the marketplace

Mitch Jacobs is the Founder and CEO of On Deck, a New York technology company that has delivered over $125 million to small businesses since 2006.

His program encompasses actual loans from six to 18 months ranging from $5,000- $150,000. The company can deliver approvals in 2 business days and funding as fast as 7 business days, judging small businesses based on the recently launched On Deck Score, which Jacobs calls “The first ever credit score for Main Street businesses”.

Jacobs says that On Deck has created a system to efficiently underwrite sub $150,000 loans – something that banks have not been able to do (instead relying on the consumer credit score.) He states the reliance on consumer credit scores is not the way to go, and that On Deck has developed a platform that utilizes electronic data including online banking and merchant processing information as well as social, tax, industry and other technological information to form a financial profile of each business. He explains it as a technology breakthrough that makes capital accessible to millions of small businesses.

The On Deck market is primarily the 5 million businesses with less than 25 employees such as restaurants, doctors, retailers, auto repair shops and other local service businesses. Jacobs thinks the leasing community can bring business to his company as he can provide working capital and loans for other improvements to the business along with what the leasing company leases.

On Deck provides tools for business to better understand their credit profile and lending options. A visit to his site shows this is not a gimmick to collect a fee for credit or analyzing the business, as all of this is free.

Jacobs says On Deck is looking to grow their partner program, and is actively seeking referral partners. They can work with both licensed and unlicensed independent brokers. For more information about the partner program call 888-269-4246 or email


Gary DiLillo, President 216-658-5618 or

Comprehensive personal property tax outsourcing services.
Click here to see what our clients say about us.


Momentum Commercial Funding Joins "Broker/Lessor List"

We do a significant amount of commercial vehicle business.”

Bugatti Veyron, price tag: $1.7 million

Momentum Commercial
Funding, LLC

Rancho Cordova, CA
Greg McIntosh

Primarily California

"This is Greg McIntosh's company, who I have known from 1985 when I would drive deals in to be funded from my American Leasing office in Santa Clara to CIT Financial, San Mateo, California (half-hour) where he was the manager. Often I would leave with the check and deliver to the vendor the same day. We were doing a lot of dental office leases and Greg would either go out to lunch with us or advance the check with the documents in hand, processing them after we left. We did a lot of business in those days. He then went to Sierra Cities/First Sierra Financial where he worked his way up to general manager and was the first to discover the RW Leasing fraud with checks coming in from companies he discovered were no longer in business (reported in Leasing News), and after the sale, stayed around a short time, but decided to go back to Sacramento where he liked hunting, his dogs, and had family and friends, working as general manager for Snider Leasing for almost nine years before deciding to go on his own."

“I would recommend him highly as credit man, operation's person, with high integrity and knowledge, customer is number one, and more importantly, a very nice guy who you will enjoy doing business with."

Christopher “Kit” Menkin, editor/publisher Leasing News



Allegiant Partners announces Portfolio Purchase/Line Increase

Chris Enbom, CEO of Allegiant Partners, San Rafael, California, President, National Equipment Finance Association, announces his company has acquired a $1 million portfolio from a privately-held equipment finance company as well as increased their line from $13 million to $16.5 million with Harris N.A., a part of BMO Financial Group (NYSE: BMO; TSX: BMO).

Chris Enbom, CEO of Allegiant Partners

“We are very pleased to be expanding our relationship with Harris,” commented Chris Enbom, CEO of Allegiant Partners. “Allegiant has weathered the storm and has a very strong balance sheet. We thank Bob Bomben and his great team at Harris Bank for their hard work and deep understanding of specialty finance businesses.”

Ben Carlilie, President of Allegiant commented on the $1 million portfolio purchase.

"Allegiant has proven once again its ability to quickly purchase a small finance company portfolio,” stated Ben Carlile, President of Allegiant. “We are interested in purchasing more complex $1 to $15 million portfolios. We can either purchase the portfolios directly onto Allegiant’s balance sheet or through our partnership with Dakota Financial.”

San Rafael, CA-based Allegiant Partners is an employee-owned commercial funding source started in 1998 that specializes in equipment finance for small businesses. Allegiant focuses on bank policy exceptions, hard asset transactions, story credits and well capitalized small business start-up financings. Allegiant Partners owns First Star Capital (, a direct source for commercial equipment financing and working capital. Allegiant also purchases small, structured portfolios through its affiliate Dunhill Leasing, LLC.



Leasing Industry Help Wanted

Sr. Contract Adminstrator
Los Angeles, California

5+ years leasing & contract admin. required
7+ years lending/leasing exper. required
Click here for more information

--- About CityNationalBank---

For information on placing a help wanted ad, please click here:

Please see our Job Wanted section for possible new employees.



Analysis of the Top Leasing Web Sites
by Christopher Menkin

Terey Jennings, Financial Pacific, Surfing the Web

It was interesting to go through all the web sites on Leasing News lists of broker/lessors/funders/ captive lessors as rated by Alexa reports. Many were not rated, as they were evidently not visited very often. Those who made the count were often in the 10,000, meaning 9,999 other web sites were visited more than they were.

What does this mean? First, almost everyone has a web site, and even salesmen working out of their apartment living room or bedroom look like a very large company with very well made web sites. But they were not visited very often.

Even larger leasing enterprises had the same problem. Second, let’s look at the top sites from the article:

Direct Capital came in first not just because they have a terrific front page and abilities (www.directcapital). They obviously use the web site for marketing. It is evident by the traffic rating as well as having 136 sites that link to their site. In addition, the fact they do eBay financing and also use Google advertising (very active) and their web site pops up quite a bit to attract both customers and vendors, thus they even had a better rating that a major, larger company such as CIT.

Direct Capital since its inception has not relied on Portsmouth, New Hampshire for business, but is very active nationwide with new marketing programs and since the inception has been ahead in the use of technology marketing. Their physical location has been their greatest advantage in many ways.

Sites linked in as per Alexa are good indications, as note these two tough competitor as GreatAmerica had 24 with 190,851 US rating compared to Balboa with a rating of 368,877 and 25 sites linking in.

The difference with GreatAmerica Leasing is they divided the groups they service, and it obviously attracts more users. They also use a 1:16 video greeting from Tony Golobic, Chairman & Chief Executive. You immediately know you are dealing with a successful company and want to be a part of it. GreatAmerica is another example of a company who utilizes technology and the latest marketing, a leader in its field for years and one of the many reasons why this company has been very successful while others have gone out of business, were purchased by others or merged. Their success is their people as evidenced by Tony Golobic short video message.

I think the best example of the point of this article is Allegiant*Partners listed as number five in the list, primarily because it has an excellent web site, in my opinion; however, it is indicative of many that were visited.

There are many extremely well-done web sites, very well illustrated, succinct, excellent information, and the company’s they represent should be very proud. What they have missed is that what they are presenting as “marketing” is more a brochure than a web site. It has a great message and attitude, but it is not being utilized as a marketing tool as evidenced not only by the low amount of people who visit, but the concept itself.

It sits there. “See my web site,” the company may say. “It’s more snazzy than a glossy paper brochure with more pages and illustration and everything you would want to know about may company.”

But so what? Everyone has a web site. Some better than others. The purpose of the web site is then “just a brochure” because that is the approach taken.

It is the originator of the web site that controls its purpose. It is not being placed in many site engines that will bring the readers, although it will put you higher on the list in a search engine. The internet has grown from being an attractive brochure or listing of information. It should be part of the marketing effort, active, and the best way to communicate this is to take time and visit Direct Capital, Balboa Capital, and GreatAmerica.

Third, the key to look for is: interactive.

Please see the original article for the web sites:

More Top Web Sites:

Coda: Most bank leasing companies are part of the bank and do not have separate web sites to rank. CIT is a major company with a full staff that produces and maintains its web site, as does GE Capital, among many others. There were included in the report both for their rating and branding.




Brican America evicted in bankruptcy

November 5, 2009 Leasing News issued an alert regarding Brican America, Miami, Florida and it subsidiaries along with NCMIC Finance Corporation dba Professional Solutions Financial (PFSF), a subsidiary of NCMIC Group, Inc., Clive, Iowa and what was eventually to evolve into 2,500 dentists and optometrists.

This is the case of a large digital monitor tied to a computer in dental and optometrist offices with advertisements (including the doctor's and their services) with the advertisements of others to pay the monthly lease payments. A side marketing agreement was made. When the payments stopped, so did the lease payments, and then it all hit the fan, including a law suit from the largest creditor NCMIC Finance Corporation d/b/a Professional Solutions Finance Services, owned by NCMIC Group, Inc., out of Iowa.

Several class actions were filed. While this was going on, Laura Spivak, DMD, Sandra Tenzer, DDS and Dr. Anthony Efre, optometrist, three doctors who were recruited by NCMIC (which agreed to pay all attorneys’ fees and indemnify the doctors against any claims) filed Involuntary Bankruptcy July 13, 2010 against Brican America, LLC, taking depositions of those in the case. A May 2, 2011 "Statement of Affairs" shows $1.7 million in assets and $45.388 million in debts consists of 356 pages of unsecured creditors claims of $45.382 million, the marketing fee owed to the lessees by Brican.

On May 18, 2011 a motion was made to abandon the premises at 5301 Blue Lagoon Drive, Suites 520,550, and 560, Miami, Florida. May 24, 2011 a motion was made to allow the landlord to have the offices vacated with a hearing set for June 9, 2011 to be expedited as new tenants would like to move in on June 1, 2011.

A meeting of creditors is to be held June 27, 2011 at 4:340pm at 51 SW First Avenue, Room, 102, Miami, with proofs of claims to be due by 9/26/2011.

Ronald P. Gossett, Gossett & Gossett, P.A., of Hollywood, Florida, perhaps best known for his success for NorVergence lessees, has the largest group of the class action cases.

"A lot is happening on all fronts. First, we have been directly hired to represent more than 1,000 lessees (and their personal guarantees which we do not count; if counted, we would be close to 2,000 clients in these cases). Second, we have been appointed as lead counsel by the United States District Court for the Southern District of Florida, the court to which the Judicial Panel on Multi-District Litigation transferred all pending federal cases involving NCMIC/Brican contracts. Third, NCMIC continues to file cases in Iowa (we are defending about 850 at this point). All Iowa cases involving leases which were assigned to NCMIC have been stayed in Iowa. All Iowa cases which we are defending have been stayed in Iowa.

"The federal MDL action has moved into the discovery phase. We have produced thousands of pages of documents, names and addresses of 984 potential witnesses, and have received 110,500 pages of documents which we are now reviewing. We are mapping out the depositions which will be taken over the next year (100 total), and have taken the limited deposition of the CEO of NCMIC, Patrick E. McNerney.

“We are on course to take this case to trial during the late autumn of 2012.

“Our position looks to be very strong.”

State of Affairs (379 pages):

Landlord papers, May 24:

Three Class Action Suits re: Brican America

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)


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

Kahrnoff and Debre join Well-Known Askounis & Darcy Law Firm

Chicago, IL — Askounis & Darcy PC is pleased to announce that Allison E. Kahrnoff and Michael W. Debre have joined the firm as associate attorneys.

Allison Kahrnoff

A 2010 graduate of University of Wisconsin Law School, Ms. Kahrnoff previously served as an intern for the Honorable Chief Judge Gerald E. Rosen of the United States District Court for the Eastern District of Michigan and Justice N. Patrick Crooks of the Wisconsin Supreme Court. Ms. Kahrnoff is licensed to practice in the State Courts of Illinois, Wisconsin and Michigan and concentrates her practice in commercial litigation.

Michael W. Debre

Prior to joining Askounis & Darcy, Mr. Debre, a 2008 graduate of Chicago-Kent College of Law, worked for seven years at a commercial bank in Chicago where he held various lending and management positions. During that time, Mr. Debre gained broad experience in the documentation of secured transactions, including loans for real estate acquisition and construction, and loans secured by equipment, vehicles, accounts receivable and other assets. Mr. Debre managed a $60 million highly-diversified loan portfolio and also coordinated the bank's collection efforts, which included foreclosures, confessions of judgment and other breach of contract claims. Having had the unique perspective of overseeing a lending institution, Mr. Debre understands the challenges facing creditors during the debt structuring process and also when borrowers default on obligations.

Based in Chicago, Illinois, Askounis & Darcy PC represents banks, equipment lessors, finance companies, lease brokers and equipment vendors on a national basis in commercial and fraud litigation, bankruptcy/workouts, governmental investigations, collections, transactions and appeals. Askounis & Darcy's experience includes representing creditors in the NorVergence litigation, Chrysler, GM and Chicago Tribune bankruptcy cases and Wildwood, EAR, Allied Health, American Screw and Sysix fraud litigation.

For more information, visit


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

FDIC-Insured Institutions Earned $29 Billion in the First Quarter of 2011

Profits Up 66.5 Percent, Driven by Reduced Loss Provisions
Deposit Insurance Fund Balance Nears Positive Territory

Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported an aggregate profit of $29 billion in the first quarter of 2011, an $11.6 billion improvement (66.5 percent) from the $17.4 billion in net income the industry reported in the first quarter of 2010. This is the seventh consecutive quarter that earnings registered a year-over-year increase. For the sixth consecutive quarter, reduced provisions for loan losses drove the improvement in earnings.

"The industry shows continuing signs of improvement," said FDIC Chairman Sheila C. Bair. She added, "Though there is a limit to how far reductions in loan-loss provisions can boost industry earnings."

More than half of all institutions (56 percent) reported better quarterly net income from a year ago, and only 15 percent had a net loss for the quarter. The average return on assets (ROA), a basic yardstick of profitability, rose to 0.87 percent from 0.53 percent a year ago.

First-quarter loss provisions totaled $20.7 billion, less than half the $51.6 billion that insured institutions set aside a year ago. However, some of the benefits from lower provisions were offset by reduced revenues. Net operating revenue (net interest income plus total noninterest income) was $5.5 billion (3.2 percent) lower than a year earlier, and realized gains on securities fell by $1.7 billion.

Asset quality continued to improve as noncurrent loans and leases (those 90 days or more past due or in nonaccrual status) fell for a fourth consecutive quarter. Insured banks and thrifts charged off $33.3 billion in uncollectible loans during the quarter, down $19.9 billion (37.5 percent) from a year earlier.

"The process of repairing bank balance sheets is well along, but is not yet complete," Chairman Bair said. "In addition, housing markets remain weak, in part because of continued questions about mortgage servicing problems. The economic recovery, along with borrower demand, remains sluggish. Longer term, banks may be exposed to interest rate risk when we emerge from this prolonged stretch of unusually low rates."

Financial results for the first quarter are contained in the FDIC's latest Quarterly Banking Profile, which was released today. Also among the findings:

Quarterly net income rose to a three-year high. Net income was the best for the industry since the $36.8 billion earned in the second quarter of 2007. More than half of all institutions (56 percent) reported higher net income than a year earlier. Fifteen percent reported negative net income, down from 19 percent in the first quarter of 2010.

Loan balances continued to decline. Total loans and leases fell for the tenth time in the past eleven quarters (the one exception in first quarter of 2010 resulted from changes in reporting rules, not from actual loan growth). More than 70 percent of all insured institutions reported declines in loan balances in the first quarter. The net decline in balances in the first quarter totaled $126.6 billion (1.7 percent). The largest reductions in loan portfolios occurred in one-to-four family residential mortgages (down $63.8 billion, or 3.4 percent), credit card balances (down $38.9 billion, or 5.5 percent), and real estate construction and development loans (down $25.9 billion, or 8.1 percent). Balances in loans to commercial and industrial (C&I) borrowers increased for a third consecutive quarter, rising by $18.1 billion (1.5 percent), but nearly half of this growth represented loans to foreign borrowers. Small loans to businesses and farms declined by 2.8 percent.

The number of institutions on the "Problem List" flattened. The net increase of four, to 888, is the smallest in three-and-a-half years. The number of "problem" institutions is the highest since March 31, 1993, when there were 928. Total assets of "problem" institutions increased from $390 billion to $397 billion. Twenty-six insured institutions failed during the first quarter, the smallest number in the last seven quarters.

The Deposit Insurance Fund (DIF) balance neared positive territory. The DIF balance — the net worth of the fund — rose from negative $7.4 billion to negative $1.0 billion during the first quarter. Assessment income and continued improvement in the outlook for anticipated bank failures were primarily responsible for the growth in the fund balance. The contingent loss reserve, which covers the cost of expected failures, fell from $17.7 billion at year-end 2010 to $13.8 billion at March 31, the lowest reserve since the third quarter of 2008. The DIF's liquid resources — cash and marketable securities — remained strong at $45.5 billion at the end of the first quarter, about the same as the year-end 2010 level.

"Barring unforeseen circumstances, the reported DIF balance at June 30 should turn positive, after seven quarters in the red," said Chairman Bair.

Total estimated insured deposits increased by 1.4 percent in the first quarter. Over the past four quarters, insured deposits increased by 16.7 percent, reflecting the inclusion of temporarily insured deposits in large noninterest-bearing transaction accounts.

Chairman Bair concluded, "I am proud of all that the FDIC has accomplished during the past five years. We have maintained the FDIC's 78-year record of no losses to any insured depositor, and we did it without borrowing a penny from taxpayers."

The complete Quarterly Banking Profile is available at on the FDIC Web site.

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


San Antonio, Texas-- Adopt-a-Dog

Unit: Kennels
Age: 4 years
Size: Medium
Weight: 44 pounds

"I’m friendly, intelligent and well behaved. I’ll treasure every moment we spend time together whether we’re out for a walk or just hanging out together."

11300 Nacogdoches Road, San Antonio, Texas 78217-2318
Information: 210-655-1481. Fax: 210-655-4498
OPEN DAILY: 10:00 am to 6:00 pm . Adoption applications accepted until 5:30 pm

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

Adopt a Pet




April New Leasing Business Volume “choppy”

(Chart: Leasing News)

Compared against March volume, April volume decreased by 18 percent on the Equipment Leasing and Finance Association MFLI-25 report, falling from $6.2 billion to $5.1 billion.

(Chart: Leasing News)

On the other hand, compared to the first quarter, it is up, so to declare this a trend: too early to tell, but hopefully the trend remains positive.

There are many factors that go into this including the natural disasters, cost of oil, housing market glut, but despite the calamities there is improvement as seen in the statistics:

April 2008: $7.2 billion
April 2009: $4.1 billion
April 2010: $4.7 billion
April 2011: $5.1 billion

Certainly the industry is in flux as compared to the first quarter, perhaps best described by Paul A. Larkins, former senior executive vice-present, Key Equipment Finance and 2006 Leasing News Person of the Year, now president and CEO of SquareTwo Financial Corporation, Denver, Colorado, as “choppy.” (1)

May numbers will be interesting, particularly in view of the Equipment Leasing and Finance Foundation who reported the month confidence index was down to 63.2 from 70.3 in April.

Here one told the Equipment Leasing and Finance Foundation that perhaps some momentum has been lost:

“The pace of new business is beginning to slow down," Harry Kaplun, President, Frost Leasing, San Antonio, Texas, stated in the report. "While still positive over 2010, the big improvement in the first quarter of 2011 over the first quarter of 2010 is not continuing into Q2. 2011 will be better than 2010 in every metric, but not robustly so.”

Another has a more positive attitude, particularly with a specific goal in mind:

"Now more than ever, manufacturers and resellers view vendor finance as a strategic part of their business, particularly as the model migrates to include a services-based structure," Ron Arrington, Global President, CIT Vendor Finance, said in the report. "Being able to provide a structure that supports a service solution helps drive incremental revenue for the manufacturer or reseller. This will result in manufacturers looking for lenders that have the expertise and servicing capabilities to support this offering.”

Equipment Leasing and Finance Association MFLI-25 Charts

MLFI-25 New Business Volume
(Year Over Year Comparison)

click image for larger view

Aging of Receivables:

click image for larger view

Average Losses (Charge-offs) as a % of net receivables
(Year Over Year Comparison)

click image to view larger

Credit Approval Ratios As % of all Decisions Submitted
(Year Over Year Comparison)

click image to view larger

Total Number of Employees
(Year Over Year Comparison)

click image to view larger

  1. Accounting Profit for SquareTwo Financial

((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)


--- News Briefs

Reported Fraud Jumped in Q1, Survey Finds

New home sales edge up 7.3% in April

But Troubled home market creates generation of renters

Mayor Rahm Emanuel: GE Capital to bring 1,000 jobs to city

$400,000 Penalty but Probation hidden Swiss bank accounts

4 Convicted of Mail Fraud in Tax Shelter Case

Hines Ward & Kym Johnson win Dancing with the Stars

Ted Nugget: Solutions to Immigration Challenges

Ted Nugget, news anchor at American Network Television (ANT) offers a unique solution to America's immigration challenges.

You May Have Missed--

Heiress of $500 Million dies at 104


Sports Briefs----

San Jose Sharks lose in double OT

Bulls lose Game 4, 101-93, in OT,0,6824694.story

California Nuts Briefs---

Census reveals kids declining, households changing

Half of SF Bay Area newspaper jobs gone in last decade

John Kenny Receivables Management

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs
John Kenny
315-866-1167 |


“Gimme that Wine”

Not enough wine in France to satisfy Chinese thirst

Stag’s Leap Wine Cellars Celebrates the 35th Anniversary of the Historic 1976 Paris Tasting with the Creation of a “Judgment of Paris Seal” for Its Iconic Cabernet Sauvignons

Steven Spurrier elected to Hall of Fame

MacMurray Ranch Hosts 32nd Annual Taste of Sonoma

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


Please send to a colleague---Leasing News is Free

This Day in American History

     1607- the first battle between English colonist and Native Americans took place this day in Jamestown, Virgina. One hundred and five colonists were able to repulse an attack by two hundred Native American Warriors.
    1647- Achsah Young of Massachusetts was hanged as a witch. According to historians, Margaret Jones of Charlestown, MA was the first accused of being a witch, but was not executed until 1648 by drowning.
    1721-The first fire insurance agent is said to have been John Copson of High Street, Philadelphia ,PA, who inserted an advertisement this day in the American Weekly Mercury announcing that he would open an office for insurance on “vessels, goods and merchandise.”
    1787 - Four years after the United States won its independence from England, 55 state delegates, including George Washington, James Madison, and Benjamin Franklin, convene in Philadelphia to compose a new U.S. constitution. In February 1788, a compromise was reached under which Massachusetts and other states would agree to ratify the document with the assurance that amendments would be immediately proposed. The Constitution was thus narrowly ratified in Massachusetts, followed by Maryland and South Carolina. On June 21, 1788, New Hampshire became the ninth state to ratify the document, and it was subsequently agreed that government under the U.S. Constitution would begin on March 4, 1789. On September 25, 1789, the first Congress of the United States adopted 12 amendments to the U.S. Constitution--the Bill of Rights--and sent them to the states for ratification. Ten of these amendments were ratified in 1791. In November 1789, North Carolina became the 12th state to ratify the U.S. Constitution. Rhode Island, which opposed federal control of currency and was critical of compromise on the issue of slavery, resisted ratifying the Constitution until the U.S. government threatened to sever commercial relations with the state. On May 29, 1790, Rhode Island voted by two votes to ratify the document, and the last of the original 13 colonies joined the United States. Today the U.S. Constitution is the oldest written constitution in operation in the world.
    1790-The first copyright law was enacted by Congress “for the encouragement of learning by securing the copies of maps, charts and books to the authors and proprietors of such copies during the times therein mentioned.” Protection was extended over a 14-year period, renewal rights being granted only if the author was still alive.
    1793-The first Catholic priest ordained in the United States as father Stephen Theodore Badin, by Bishop John Carroll in Baltimore, MD. He was appointed to the mission of Kentucky and held his first mass there on the first Sunday of Advent, 1793, in the house of Ennis McCarthy in Lexington, KY. In British colonial America, there were few English-speaking Catholics outside of Maryland, which was established in 1634 as a haven for Roman Catholics persecuted in England. One hundred years later, John Carroll was born in Baltimore into a prominent Catholic family. As secondary Catholic education was forbidden by the British colonial authorities, Carroll traveled to Europe, where he was ordained in 1769. Returning to America, he aided the Patriot cause during the Revolutionary War, and in 1790 was chosen by the Vatican to become the first bishop of the US Catholic Church.
Carroll supported the separation between church and state, and advocated an autonomous US clergy that would elect its own bishops and carry out its own training. In his early years as bishop, he endorsed the use of English in the liturgy, and in 1793 presided over the first ordination of a Catholic priest on US soil. Although the US Catholic Church grew substantially under Carroll’s leadership, it was the mass immigration of Catholics from Ireland, Germany, Italy, Poland, and the Balkans during the nineteenth and twentieth centuries that made Catholicism a major force in US religious life.
    1803-Rlaph Waldo Emerson birthday, American author and philosopher born at Boston, MA, and died there Apr 27, 1882. It was Emerson who wrote (in his essay "Self-Reliance," 1841), "A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines. With consistency a great soul has simply nothing to do."
    1825- American Unitarian Association founded
    1829—The first letter written on a “typographer,” the first typewriter, was sent by John P. Sheldon, editor of the Michigan Gazette, Detroit, MI, to Martin Van Buren, secretary of state. The first practical typewriter was invented in 1867 by Christopher Latham Sholes, who coined the word “type-writer.” It was first manufactured in 1873. The typewriter ribbon was patented on September 14, 1886 by George K. Anderson of Memphis, TN.
    1844-The gas engine was invented by Stuart Perry of Jew York City, who received a patent for it. He invented both air-and-water-cooled types and used turpentine gases as fuel.
    1844-The first news dispatch by telegram was sent from Washington, DC, to the offices of the Baltimore Patriot. The message read: “One o’clock. There has just been made a motion in the House to go into committee on the whole on the Oregon question. Rejected. Ayes 79-Nays 86.” The Democratic platform was nationalistic, calling for the annexation of Texas and control of the entire Oregon Territory, then shared with England.
    1847-John Alexander Dowie birthday, Evangelist and claimant of the title "Elijah the Restorer" was born at Edinburgh, Scotland. He established the Christian Catholic Church at Zion, IL, where some 5,000 followers created a unique community without pharmacies, physicians, theaters or dance halls and where smoking, drinking and the eating of pork were prohibited. Dowie's ostentatiously expensive personal lifestyle and his unsuccessful attempt to convert New York City were partially responsible for the falling away of his followers. He was expelled from the church in 1906 and died at Chicago, IL, Mar 9, 1907.
    1849-Birthday of pianist Thomas Green Bethune, known as "Blind Tom," the first black artist known to have performed at the White House. He played the piano for President James Buchanan in 1859. Accounts from the period made it clear he was a phenomenal prodigy, an idiot savant, who was said to have played like Mozart, Beethoven or Gottschalk.
    1862- First Battle of Winchester VA (there were three)
Confederate General Thomas "Stonewall" Jackson notches a victory on his brilliant campaign in the Shenandoah Valley. Jackson, with 17'000 soldiers under his command, was sent to the Shenandoah to relieve pressure on the Confederate troops near Richmond, who were facing the growing force of George McClellan on the James Peninsula. In early May, Jackson struck John C. Fremont's force at McDowell, in western Virginia. After driving Fremont out of the area, Jackson turned his attention to an army under the command of Nathaniel Banks, situated at the north end of the Shenandoah Valley. With only 10,000 troops, Banks had the unenviable task of holding off the fast-moving Jackson. On 25 May, Jackson found Banks outside of Winchester. He attacked the Union force but was initially repulsed. The Confederates then struck each Union flank, and this time the Yankee line broke. A confused retreat ensued through the town of Winchester, and even some residents fired on the departing Yankees. Banks fled the Shenandoah into Maryland, and Jackson continued his rampage. The Union lost 62 killed, 243 wounded, and over 1700 captured or missing, while Jackson's men lost 68 killed and 329 wounded. The numbers from Jackson's 1862 valley campaign are stunning. His men marched 550 km in a month; occupied 60'000 Yankee soldiers, preventing them from applying pressure on Richmond; won four battles against three armies; and inflicted twice as many casualties as they suffered. Jackson's record cemented his reputation as one of the greatest generals of all time.
    1864 - Battle of New Hope Church GA. Joseph E. Johnston tried to halt Sherman’s advance on Atlanta at the Hell Hole.
    1878- Bill “Bojangles” Robinson, born , Richmond, VA, the grandson of a slave, Robinson is considered one of the greatest tap dancers. He is best known for a routine in which he tap-danced up and down a staircase. He appeared in several films with Shirley Temple and taught Gene Kelly, Sammy Davis, Jr., Gregory Hines, and others. Died at New York City, Nov 25, 1949.
( lower half of: )
    1895-The first golf book was “Golf in America, “ a practical manual by James Parish Lee, published by Dodd, Mead and Company, New York City. In consisted of 194 pages and a front’s piece.
    1898-James Joseph “Gene” Tunney birthday, heavyweight boxing champion, business executive. The famous "long count" occurred in the seventh round of the Jack Dempsey-Gene Tunney world championship fight, Sept 22, 1927, at Soldier Field, Chicago, IL. Tunney was born at New York, NY, and died at Greenwich, CT, Nov 7, 1978.
    1898-The First military expeditionary force to be sent beyond the Western Hemisphere sailed from San Francisco, California, on the Australia, City of Pekin, and City of Sydney, bound for Manila, Philippines, a distance of 6,220 miles. The expeditionary force consisted of 115 officers and 2,386 enlisted men commanded by General Wesley Merritt. They arrived off Manila on June 3 and landed on July 1. Admiral George Dewey and General Merritt demanded the surrender of Manila on August 7. The city complied on August 13.
    1908 -- American poet Theodore Roethke born, Saginaw, Michigan.
    1917-Clarinestist/tenor sax player Jimmy Hamilton born Dillon, SC, perhaps best known for playing with Duke Ellington Hamilton, who played with Duke Ellington from 1943-68, had a gorgeous, pure clarinet tone, while his tenor sax sound was rougher and funkier. He also was an arranger, and one of his was “In a Mellow Tone.” Early in his career, Hamilton performed in bands led by Lucky Millinder, Jimmy Mundy, Teddy Wilson, and Eddie Haywood. Died Sept 20, 1994 at age 77
    1925--Birthday of Jeanne Crain, film actor nominated for an Academy Award for her work in Pinky (1949), the story of a black girl who passes for white.
    1926- Jazz trumpeter Miles Davis was born at Alton, IL. He was influenced by the be-bop music style of Charlie Parker and Dizzy Gillespie and ended up leaving the Julliard School of Music to join Parker’s quintet in 1945 at the age of 19. He experimented with different styles throughout his career, exploring new voicings in jazz with arranger Gil Evans. I met him several times, one of them in the Men’s room at a night club (Mocombo on Sunset Strip? 1960?) in Hollywood. He was followed shortly thereafter by two white men in business suits, who asked me if I had seen him come in. I told them I had not. After they left, I opened the door, seeing them gone, informed Mr. Davis, who’s bathroom door opened and he was rolling down his sleeve. He thanked me and left as quickly as he had entered. I saw a performance of his again, and I swear he gave me a “high five” in the crowd. His “Kinda Blue” Album is one of his classics, but I think the albums with Gil Evans as arranger and conductor are perhaps his best, although early recordings with Charlie Parker perhaps remain one of my favorites.
You can hear in his albums his growth in style.
    1926-Tombonist Milt Bernhart born Valparaiso, Ind.
    1928--Birthday of Mary Wells Lawrence, founded highly successful Wells, Rich, and Green advertising agency.
    1929- Beverly Sills birthday, premier coloratura soprano with the New York City Opera for 25 years. She became its director 1979-89, and in 1994 was named director of Lincoln Center. Sills sang in more than 50 different operas and was a highly respected musician. Although always seen as a very upbeat woman - her nickname is Bubbles - her life was filled with tragedy. Meredith (Muffy), her first born child was almost deaf and never heart her sing and her second child was born retarded.
    1935-Jesse Owens sets six world records in less than an hour in Ann Arbor, Michigan.
    1935-George Herman Ruth could barely run and could no longer hit like he used to , but occasionally the Babe could still put on a show with his bat. On May 25th, Ruth, playing for the Boston Braves, hit three home runs before a crowd of only 10,000 at Pittsburgh’s Forbes Field. His last home run of the day—his 714th in regular season play—proved to be Babe’s last major league home run as well as his last big-league hit.
    1937- Future Hall of Famer Mickey Cochrane's career ends after being beaned with an 3-1 inside fastball thrown by Yankee hurler Bump Hadley. Near death at first, the Tiger catcher/ manager will spend six weeks in the hospital and will return to the team only as its skipper.
    1938-Vernon Presley is sentenced to a three year term at Parchman penal plantation in Mississippi for forging a check. His wife Gladys and son Elvis are forced to live on welfare
    1943 - The Trident Conference ends. Roosevelt and Churchill, and their staffs, reach compromises on all of the significant differences. Among the decisions taken is the target date for the invasion of Western Europe (D-Day) -- May 1, 1944. British General Morgan is appointed to prepare plans for the invasion. His is designated Chief of Staff to the Supreme Allied Commander (COSSAC).
    1943 - There was a riot at Mobile, Al., shipyard over upgrading 12 black workers.
    1944 - Patrols of the US 2nd Corps link up with forces of the US 6th Corps from Anzio near Latina (Pontine Marshes). In its advance, the US 6th Corps captures Cisterna and Cori. The German 10th Army is in danger of being cut off and Army Group C (Kesselring) sends its last reserve, the "Hermann Goring" Division, for reinforcement. The US 5th Army (Clark), however, now puts the weight of its forces into the capture of Rome. Meanwhile, the British 8th Army crosses the Melfa River in strength.
    1953---Top Hits
Song from Moulin Rouge - The Percy Faith Orchestra
I Believe - Frankie Laine
April in Portugal - The Les Baxter Orchestra
Mexican Joe - Jim Reeves
    1955 - Two tornadoes struck the town of Blackwell, OK, within a few minutes time during the late evening. The tornadoes killed 18 persons and injured more than 500 others. Early the next morning a tornado virtually obliterated the small community of Udall KS killing 80 persons and injuring 270 persons. More than half the persons in the community were killed or injured by the tornado.
    1961-- President Kennedy asked the US to work toward putting a man on the moon by the end of the decade.
    1961---Top Hits
Mother-In-Law - Ernie K-Doe
Daddy’s Home - Shep & The Limelites
Travelin’ Man - Ricky Nelson
Hello Walls - Faron Young
    1962 - The Isley Brothers release ``Twist and Shout.''
    1965-Muhammad Ali knocked out Sonny Liston just one minute into the first round of a controversial rematch for the heavyweight championship in Lewiston, ME. Liston went down from a short right-hand punch that some swore never hit him.
    1968-The Rolling Stones return to straight rock & roll releasing "Jumpin' Jack Flash," a single later included on several greatest hits collections, but not on a regular release album. 
    1968- The 1968 Monterey Pop Festival is canceled because of pressure from the local government and citizenry. In the wake of the cancellation, $52,000 is discovered missing from the previous festival's profits and the festival's bookkeeper, Mrs. Sandra Beebe, can't be located.
    1969---Top Hits
Get Back - The Beatles
Love (Can Make You Happy) - Mercy
Oh Happy Day - The Edwin Hawkins’ Singers
My Life (Throw It Away if I Want To) - Bill Anderson
    1971-ADAMS, WILLIAM E.—Medal of Honor
Rank and organization: Major, U.S. Army, A/227th Assault Helicopter Company, 52d Aviation Battalion, 1st Aviation Brigade. Place and Date: Kontum Province, Republic of Vietnam, 25 May 1971. Entered Service at: Kansas City, Mo. Born: 16 June 1939, Casper, Wyo. Citation: Maj. Adams distinguished himself on 25 May 1971 while serving as a helicopter pilot in Kontum Province in the Republic of Vietnam. On that date, Maj. Adams volunteered to fly a lightly armed helicopter in an attempt to evacuate 3 seriously wounded soldiers from a small fire base which was under attack by a large enemy force. He made the decision with full knowledge that numerous antiaircraft weapons were positioned around the base and that the clear weather would afford the enemy gunners unobstructed view of all routes into the base. As he approached the base, the enemy gunners opened fire with heavy machine guns, rocket-propelled grenades and small arms. Undaunted by the fusillade, he continued his approach determined to accomplish the mission. Displaying tremendous courage under fire, he calmly directed the attacks of supporting gunships while maintaining absolute control of the helicopter he was flying. He landed the aircraft at the fire base despite the ever-increasing enemy fire and calmly waited until the wounded soldiers were placed on board. As his aircraft departed from the fire base, it was struck and seriously damaged by enemy anti-aircraft fire and began descending. Flying with exceptional skill, he immediately regained control of the crippled aircraft and attempted a controlled landing. Despite his valiant efforts, the helicopter exploded, overturned, and plummeted to earth amid the hail of enemy fire. Maj. Adams' conspicuous gallantry, intrepidity, and humanitarian regard for his fellow man were in keeping with the most cherished traditions of the military service and reflected utmost credit on him and the U S. Army.
    1973—The first space station launched by the United Sates was Skylab 2, which lifted off from Cape Canaveral, FL. Three astronauts Charles Conrad, J., Joseph Peter Kerwin, and Paul J. Weitz, spent nearly a month in the station conducting long-duration flight tests and other scientific experiments. The mission ended successfully on June 22, when the astronauts returned to earth, leaving Skylab in orbit. It later disintegrated in the earth’s upper atmosphere.
    1975 - No. 1 Billboard Pop Hit: ``Before the Next Teardrop Falls,'' Freddy Fender.
    1977-“Star Wars” released. “May the Force be with you,” entered the modern lexicon as a new kind of science fiction film opened at 32 theaters. George Lucas’ space epic, starring Mark Hamill as Luke Skywalker, Harrison Ford as Han Solo and Carrie Fisher as Princess Leia, featured stunning special effects and was a smash hit worldwide. It went on to win six Academy Awards out of ten nominations—plus an additional special Academy award for sound effects. The film was part of a larger sage, and in later years was re-titled Star Wars—Episode IV: A New Hope as sequels were released. 
    1977---Top Hits
Sir Duke - Stevie Wonder
Couldn’t Get It Right - Climax Blues Band
I’m Your Boogie Man - KC & The Sunshine Band
Luckenbach, Texas (Back to the Basics of Love) - Waylon Jennings
    1979-An American Airlines DC-10 lost an engine upon takeoff and crashed seconds later, killing all 272 aboard and three people on the ground. This is the worst US air disaster in history.
    1982-Pitcher Ferguson Jenkins of the Chicago Cubs recorded the 3,000th strikeout in his major league career in a 2-1 loss to the San Diego Padres. Jenkins, the seventh pitcher to reach 3,000 strikeouts, wound up his career with 3,192 Ks. night on the all-time list.
    1983 - No. 1 Billboard Pop Hit: ``Flashdance ... What a Feeling,'' Irene Cara.
    1985---Top Hits
Everything She Wants - Wham!
Everybody Wants to Rule the World - Tears for Fears
Axel F - Harold Faltermeyer
Radio Heart - Charly McClain
    1987-Herve Fillon drove Commander Bond to victory in the third race at Yonkers Raceway in New York to become the first harness racing driver to record 10,000 wins.
    1994--- The media report that Compaq Computer Corporation had unseated IBM and Apple as the world's leading computer seller. Compaq would retain its lead position throughout the rest of the decade. Compaq's US market share reached 12.4%, beating out Apple's top ranking: Apple's share slipped from 13.5% to 10.4%. Apple's decline in market share would continue, dwindling to 3% by 1997. Today Apple is close to 5% and Compaq has been merged into Hewlett-Packard, the largest seller of computers today.
    1998- Cardinal Mark McGwire becomes the first player in major league history to hit 25 home runs before June 1. Ken Griffey Jr. is the only other player to hit 24 home runs before the start of the sixth month.
    1999 - Nearly 70,000 readers of Country Weekly choose George Strait as favorite entertainer, favorite male artist and favorite video entertainer in voting for the publication's annual Golden Pick Awards. Strait also takes honors for favorite album, favorite song and favorite line dance song.
    2000 - Wilson Pickett collects three W.C. Handy Awards during the Blues Foundation's ceremony at the Orpheum Theater in Memphis. The veteran R&B singer's set "It's Harder Now" is named soul/blues album of the year and comeback album of the year, and Pickett takes honors for soul/blues male artist of the year.
    2002 -With four homers on Thursday (5/23), one on Friday (5/24) and two more on Saturday (5/25), Shawn Green becomes the first major leaguer to hit seven homers in three games. The Dodger outfielder's nine home runs in a week also breaks a National League record, established by Ralph Kiner with eight and tied by Ted Kluszewski and Nate Colbert.
    2002- Getting his 3,509th K, Diamondback southpaw Randy Johnson passes Walter Johnson to become seventh on the all-time career strikeout list. After fanning Shawn Green in the first to catch the 'Big Train', Dodger outfielder Brian Jordan swings and misses a 2-2 pitch in the second inning to become the 'Big Unit's' historic victim.
    2005 - The "country girl" prevails as Carrie Underwood is named the "American Idol" at the conclusion of the Fox show's two-hour fourth season finale at the Kodak Theatre in Hollywood. The 22-year-old Oklahoma native beats out "rocker" Bo Bice, taking in the most votes cast by viewers.

NBA Finals Champions This Date

    1975---Golden State Warriors

Stanley Cup Champions This Date

    1978 Montreal Canadiens
    1989 Calgary Flames
    1991 Pittsburgh Penguins





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