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SALES: Los Angeles, CA. Successful leasing company in business 10+years seeking experienced sales professional in vendor programs.Generous commissions,benefits and growth potential.






Classified Ads--Outsourcing (sample)

    NACM October Index Highest Since May

        "ELA Officials Spread the Word About Leasing"

            Treasury Security Three Month Down-Six Month Up

                CIT to Redeem Senior Public Income Notes

                    Tyco to Slash Jobs/Operations                            

                The List is Up-Dated


        AGLF November 12 Tucson, Arizona Conference

    New Arizona Leasing Association Nov. 13 Meeting

MAEL Annual Dinner November 18

    EAEL November 19th Linthicum, Maryland

        UAEL Southern California Xmas Party Dec. 4

            UAEL S.F. Bay Area Xmas Party- December 10

                GE Business Credit Appoints Kathleen Lepak SVP/Reg.Mgr.

            News Briefs---

        "Gimme that Wine"

This Day in American History



This Border ##### Denotes Press Release (Not Written By Leasing News)



Classified Ads--Outsourcing (sample)


Collector: Near Boston, MA

My name is John Kenny. I have 14 years experience in leasing collections. I currently offer outsourced services to clients nationwide on a contractual, contingency basis. E-


Collector: Fountain Valley, CA

Commercial Collector with a track record of collecting lost leasing deposits and advance payments on un-funded deals. If you have been burned, we are the ones to call. 1-888- 278-0658 ext. 233. E-



Collector: Saint Louis, Mo.

Complete commercial collection agency. Licensed bonded in all states and will out performed any other agency! Call 1-800-659- 7199 ext.315




Collections - repossessions: Tampa, FL.

IRTC Contingencies: Commercial Collections- Skip Trace- Repossessions-judgment served- Investigations- Asset Re-marketing& No Cost Warehousing East Coast USA. Call 813-467- 4324 ask for Robert or E-mail to


Finance: Naperville, IL.

Your guide to the right questions and answers in finance. Expert in capital raising, GAAP, acquisitions, lease economics. CPA. MBA.




Human Resource Consultant: New York, NY. Employee Relations, Recruiting, Benefits,employee customer surveys, plus payroll administration "ON-LINE" services-- AND IN PERSON at your location Please visit:

For the full list of “Outsourcing,” please go here:



#### press release ##################################


NACM Credit Manager's Index Report for October 2003 Highest Since May 


The combined NACM Credit Manager's Index of 57.9 is at its highest level since May 2002. This performance is primarily driven by the manufacturing sector, which reached its highest reading in its history, dating to February 2002. The service sector participated in the October gains. The service index reading of 56.3 is its first up-tick since May of this year. Hopefully, the service performance indicates continuing improvement in this sector for the fourth quarter of this year. Overall, the economy continues to strengthen.


Given the news stated for the manufacturing and service sectors, there is little to say about the combined sectors. The combined index has improved for three consecutive months. Eight of the 10 factors making up the index either improved or stayed the same relative to their September readings. "Accounts placed for collections" have declined to neutral territory and "filings for bankruptcies" have increased, although still providing a favorable reading of 55.8.


As stated last month, it appears the economy will continue its steady improvement during the fourth quarter. "New credit applications" and "amount of credit extended" got stronger in October, which bodes well for November.



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


"ELA Officials Spread the Word About Leasing"


                ELT News


In a presentation to the Association of Financial Planners Convention on November 5, former Equipment Leasing Association Chairman Ed Dahlka and ELA President Michael Fleming explained that, "The value added through equipment leasing is in the assumption and management of the risks and benefits of equipment ownership," Joined in the presentation by Richard Lupfer, director, AOL Leasing Services, the presenters reviewed all of the risks associated with equipment ownership and asked three questions of users of equipment:


- Which risks do you want to keep?

- Which risks do you want to share?

- Which risks do you want to resource?


The presentation provided the perspective of both the lessor and lessee on these and other decisions that should occur in the Equipment Lifecycle Plan. The risks include selecting equipment, financing, acquisition, installation, training, insurance, maintenance and tracking, upgrades, disposition and replacement. Dahlka and Lupfer stressed that too often managers focus only on selection and acquisition and ignore all of the decisions about the life of the equipment including the "exit strategy."


Leasing offers a range of options from only finance to a package of solutions/benefits to many equipment risks. Fleming emphasized to attendees that the biggest myth associated with buying/owning equipment is that after cost amortization you get to zero cost. "There is no point where you get to zero cost', Fleming said. This myth exists because nearly all professors of finance only focus on concepts of payment stream PV when teaching about leasing. Leasing also includes a great deal of business strategy and risk management.






 Treasury Security Three Month Down-Six Month Up


$16 billion in three-month bills were sold by the US Treasury Department at a discount rate of 0.935 percent, down from 0.940 percent last week.  $16 billion were sold in six-month bills at a rate of 1.040 percent, up from 1.025 percent.


The three-month rate was the lowest since Oct. 20, when the bills sold for 0.920 percent.


The six-month rate was the highest since June 2, when the rate was 1.095 percent. The  actual return for investors -- 0.951 percent for three-month bills with a $10,000 bill selling for $9,976.40, and 1.063 percent for a six-month bill selling for $9,947.40.


The yield on three-year Treasury notes rose to 2.625 percent, up from 2.422 percent at the last auction on Aug. 5. It was the highest rate since three-year notes sold for 5.633 percent on May 12, 1998. A total of $24 billion in notes was sold out of bids totaling $50.7 billion.


The average yield for one-year constant maturity Treasury bills rose to 1.35 percent last week from 1.30 percent.




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


CIT to Redeem Senior Public Income Notes



announced that on December 15, 2003 CIT will redeem for cash, its 8.125%

Senior Public Income Notes (PINES, NYSE Ticker: CIC), trading under the name

Capita Corporation, formerly know known as AT&T Capital Corporation. The

redemption price will be equal to 100% of the principal amount redeemed plus

accrued and unpaid interest to but excluding the date of redemption.

Currently, $735 million of this security is outstanding.


    About CIT

    CIT Group Inc. (NYSE: CIT), a leading commercial and consumer finance

company, provides clients with financing and leasing products and advisory

services. Founded in 1908, CIT has nearly $50 billion in assets under

management and possesses the financial resources, industry expertise and

product knowledge to serve the needs of clients across approximately 30

industries. CIT, a Fortune 500 company, holds leading positions in vendor

financing, U.S. factoring, equipment and transportation financing, Small

Business Administration loans, and asset-based and credit-secured lending.

CIT, with its principal offices in Livingston, New Jersey and New York City,

has approximately 6,000 employees in locations throughout North America,

Europe, Latin and South America, and the Pacific Rim. For more information,

visit .


SOURCE  CIT Group Inc.



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



Tyco to Slash Jobs/Operations




Tyco announced plans to pare operations, slash

7,200 jobs, consolidate more than 200 facilities, sell its

undersea fiber-optic telecommunications

network and depart more than 50 other small



Over the past several years Tyco has struggled to

recover from a world-wide glut of fiber-optic capacity

and from an accounting scandal that engulfed the

company's senior executives.


Only Tyco's plastics-and-adhesives segment won't see

divestitures. Measured on the basis of revenue, more

than half of the planned sales are in the company's fire-

and-security segment, which has been affected by

accounting troubles. The restructuring program calls for

consolidation of 219 facilities, most of them in the fire-

and-security segment. The job cuts represent 2.8% of

Tyco's world-wide work force of 260,000 employees.


Revenue from Tyco's fire-and-security, electronics and

health-care segments rose, while revenue from two

other segments -- engineered products and services,

and plastics and adhesives -- fell.


Former Tyco Chairman Chief Executive L. Dennis

Kozlowski and former Chief Financial Officer Mark

Swartz are on trial in New York on charges they

embezzled $170 million in unauthorized pay and loans.

They have denied wrongdoing. If convicted, each could

face up to 30 years in prison.





SALES: Los Angeles, CA. Successful leasing company in business 10+years seeking experienced sales professional in vendor programs.Generous commissions,benefits and growth potential.





The List is Up-Dated


   Here is the full list in HTML both chronological and alphabetical”


Here is the up-date to the chronological list:


Leasing News


Chronological Order


166 Changes


Ag Services of America, Inc. (NYSE:ASV) (11/03) Rabobank to Acquire Ag Services of America, Inc.; Rabobank (corporate and investment banking arm of The Netherlands-based Rabobank Group) Continues Its Expansion of US Agri-Business Finance

Orix (11/03) " Holmes had four businesses reporting to him, the ones run by Hidder, Crain, Neptune and Fite. Today after the reorganization Corr gets only one of those businesses, the old Credit Alliance portfolio run by Fite. The other three organizations that Holmes recruited and nourished at OFS are all reporting elsewhere. How long will those guys stay around, they jumped ship from elsewhere to follow Holmes? And what is the fate of Fite, is he really necessary if all Corr has is the Equipment business?" (11/03)Fitch Places ORIX Special Servicer Rating Watch Negative| (10/03) (10/03) Beyond comedy. (10/03) Holmes gone! (10/03) Orix floundering, Holmes to going, going... (9/03) US team in trouble, look for shake-up on top. (8/2001) "Orix Corporation was raised to "outperform" from "hold" by analyst Tomotaka Ohio at UFJ Capital Markets Securities".  In a related story, Orix was reiterated "hold" by analyst Edward Gordon at WestLB Panmure. Insider tells us not much action happening at Orix. Shows what a press release about a new president coming on board and new credit manager.  Hype still works on Wall Street.  (7/2001) Hires Donald Cox as Exec.VP/CFO-30 years exp. at BofA. Many predict he will be a "figure head" and the company will not be around in two to three years---history will tell if this is correct or not.  (4/2001) Orix to "consolidate;" close offices, moving to Atlanta, GA.  (2/2001) Closes re-discount center, Steve Geller says "goodbye."  Geller joins Leasing Advisory Board, receives many accolades from readers.  (11/10 First six months profits up 14% at Orix! )  (11/8) New President at Orix appointed.  10/2000  "long-term Outlook has been revised from Stable to Negative". Credit Alliance has changed its name to ORIX Financial Services,  9/2000 Japanese Bank President commits Suicide (Orix is a 14.7% shareholder in bank having problems),  (8/2000) closes small ticket vendor division in Portland Oregon,  "Business as usual in New Jersey and with Brokers" says Steve Geller.

One World (11/03) Down to five members, but seeks new president (2/2003) Loses three members, obtains new CEO.

Microfinancial/Leasecomm (11) Changes name to Transaction Enabling Systems (10/03) Net Loss $3.2 million for 3rd Q (10/03) class action filed. (5/03) Record Fine/Judgment Under the terms of the settlement with the Federal Trade Commission, Leasecomm will stop collection efforts on all outstanding judgments, totaling $24 million, involving the financing of the software and equipment for processing credit-card transactions. The company also agreed to stop financing those kinds of business opportunities in the future. Leasecomm will also pay a $1 million fine to be split by the states of Massachusetts, Florida, Illinois, Kansas, North Carolina, North Dakota and Texas. The district attorney for Ventura County, Calif. will also receive a portion of that fine.The company was looking for a financial partner, and there is the question regarding the selling of $500,000 stock by an executive officer before the stock took a nose dive. The company was also recently "re-listed" on the exchange. (5/03) New York Stock Exchange has accepted the Company's proposed compliance plan for continued listing on the Exchange (5/2003) Files $0.8 million quarter loss (4/2003) delays filing for 15 days with SEC (3/2003) to be de-listed (3/2003) Net loss for year-end was $7.7 million. (2/2003) Stocks Falls to .73 cents on Friday, 12/2002-----The Board of Directors of MicroFinancial Inc. (NYSE:MFI) has suspended its dividend to comply with the Company's banking agreements. (11/2002) Leasecomm closes, shuts off all brokers, won't fund deals approved "Goes Down---CEO Sells $500,000 Stock Before the News." ( Microfinancial Stories )Waltham, MA (8/2001) Leasecomm, Attorney General investigating, many complaints on line.

Tyco (10/03) Trial starts, video's, excess spending, poor taste, many supermarket magazine headlines including affair with party organizer while married. 2003-10-28-tyco-party-video_x.htm (7/2002)  The 200 Million share offering, led by Goldman Sachs and Lehman Brothers went out at $23 each.  Tyco Intl in a bid to ease its heavy debt load, raised $4.6 billion from the sale of its CIT Group, accepting half of what it paid for the finance Company a year ago. 

Commercial Money Center Southern CA,
(10/103) Ameriana said it will write off two lease pools in the third quarter, an action that will reduce the quarter's net income by approximately $2,784,000 or $0.88 per diluted share. Heretofore, Ameriana had established reserves against these lease pools equal to approximately 58% of the approximately $10,900,000 that currently remains outstanding. Note: NetBank and others have taken over certain aspects of the defaulted portfolio, as reported earlier, and suits with the insurance agency surety continue, while the class action suit continues taking depositions, while the former officers have started new leasing and finance ventures. (3/2002) Court filing agreements (3/2003) Netbank Lakeland settle BK for portfolio (3/2003) CMC attorney withdraws, not getting paid (3/2003) Class action lawsuit regards not being licensed in California for lease financing 12/2002---Commercial Money Center Bankruptcy Docket for case 02-09721 (12/2002) Ameriana Bancorp to Boost Reserves 4Q re: Commercial Money Center (Nasdaq: ASBI) announces that it will set aside additional reserves of up to $5.6 million in the Company's fourth quarter ending December 31, 2002. This action will reduce fourth quarter after-tax net income approximately $3.4 million or $1.08 per share, resulting in a net loss for both the quarter and full year. In 2001, Ameriana reported net income of $1,216,000 or $0.39 per diluted share for the fourth quarter and full-year net income of $3,800,000 or $1.21 per diluted share. Approximately $4.7 million of the additional reserves to be set aside pertain to Ameriana's investment in a pool of leases acquired from the Commercial Money Center ("CMC"), a now- bankrupt equipment leasing company. Ameriana originally purchased two separate pools of equipment lease receivables totaling $12,000,000 from CMC in June and September 2001, of which approximately $10,900,000 currently remains unpaid. Each lease in the pools was backed by a surety bond issued by one of two insurance companies rated at least "A" by Moody's Investors Services. The bonds guaranteed payment of all amounts due under the leases in the event of default by the lessee. Each pool was sold under a Sales and Service Agreement by which the insurers serviced the leases. In each case, the insurers assigned their servicing rights and responsibilities to Commercial Servicing Corporation, an affiliate of CMC, which also has filed bankruptcy. When the lease pools went into default earlier this year, one insurer made payments for several months under a reservation of rights while the other refused to make any payments. Both insurers now claim they were defrauded by CMC and are denying responsibility for payment. Ameriana is one of a number of financial institutions around the country that purchased interests in lease pools from CMC. All of the CMC lease pools are in default and in litigation. The Federal Panel on Multi-District Litigation has taken control over most of the federal actions involving the insurers of the lease pools and has assigned them to the U.S. District Court for the Northern District of Ohio, Eastern Division, for consolidated pre-trial purposes. (NetBank has $80 million as part of the suit, among others.) (10/2002) Deadline for filing for claims for Commercial Money Center has been extended since the proceedings were converted to a Chapter 7. The CURRENT attorney is Bradley Shraiberg and his phone number is 561.395.0500. He is the contact until a further motion is filed to have him removed (he said for geographical reasons, as it is now moving to the Southern District of California Bankruptcy court in San Diego .) (Read about CMC) (6/2002) files voluntary bankruptcy, #11, in Florida, all hell breaks loose (5/2002) Gets worse, officers may go to jail (4/2002) Many, many complaints; reports of leases where equipment never existed, paying for leases that  do not exist, much behind the scenes on the reputation of the founders, lawyers having a field day, San Diego FBI investigating all.(3/2002) Throws in the towel, 128 employees out of work, Dir. of Marketing Bill Hanson not paid, goes back to work for himself, bringing Gil Evans and his son Ty with him. closes door, leaving many unpaid bills and questions, especially about Kiosk leasing. (2/2002) Returns $1.2 Million to Date admit many complaints by applicants, vendors, and brokers. Fails to secure insurance line of credit after September 11th

Milestone Capital, NJ (10/01) files for BK protection

Balboa Capital (9/03) Patrick Byrne is back, Shawn Giffin goes on sabbatical. ( 9/2000) Founder Pat Byrne " available any time he wants to use it".

Decision Systems/IDS (9/03) Becomes private company (8/03 Twins Engineers wins bid (8/03) Capital Stream to let offer lapse (7/03) Twins Engineering, Summit enter fray (7/03) Capital Stream ups ante ( 6/03) Bidding starts for ownership by CapitalStream, as others jump in. (3/2003) Year-end not so good in UK. (2/2003)Highly reliable rumors US company for sale.

DVI Capital (9/03) Suit Filed Against Former Senior Executives of DVI as law suits galore appear (8/03) starts cutting employees, half let go, close to 200 now (8/03) DVI files BK (8/03) Leasing News insiders say deals not being funded, real problems, company most likely will file bankruptcy, major problems. (12/2000 out of broker )

RW Professional, Long Island, NY (9/03) Defendents on bail, "house confined," with trial to start April 12, 2004. "Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnares two weeks before jury selection on 3/30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt to move documents to another location and keep boxes (2nd set) for the Courthouse." Last file is a letter: "Ms. Besser is currently subject to a 7:00 p.m. curfew as part of her pre-trial supervision and requests that the curfew be lifted on 10/19/03 so she may participate in a gathering in Manhattan." It appears for the defendents to ask to either/or travel from their home or at certain hours, as they are remanded to their residence with electronic monitors on their ankle.
"MINUTE ENTRY; before USDJ Spatt on 9/5/03 @ 11:30 a.m., for Criminal Cause for Status Conference as to Dfts Payaddi Shivashankar, Susan Cottrell, Adam Drayer, Roger Drayer, RW Professional Leasing Services Corp., Rochelle Besser, Barry Drayer. Dft RW Professional Leasing Services Corp. present on bail with retained counsel Stuart E. Abrams. Dft Rochelle Besser present on bail with retained counsel Stuart Abrams. Dft Barry Drayer present on bail with retain counsel Stephen L. Cohen. Dft Roger Drayer present on bail with retained counsel Jerald Rosenthal. Dft Adam Drayer present on bail with retained counsel Thomas Marino. Dft Susan Cottrell present on bail with retained counsel Jerald Rosenthal. Dft Payaddi Shivashankar present in custody with CJA counsel Edward Jenks. Govt: Geoffrey Kaiser. Court Reporter: Harry Rapaport. Case called. Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnaires two weeks before jury selection on 3/30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt to move documents to another location and keep boxes (2nd set) for the Courthouse. Notice of Appearance filed by Jerald Rosenthal for dft #4. (Coleman, Laurie)" (6/2002) 40 FBI agents raided the offices and arrested Barry and Rochelle, Roger and Jennifer Drayer. The investigation found $6.5 Million of fraud.  Prosecutors said that the company, the RW Professional Leasing Corporation, concocted  elaborate schemes using up to 100 rented mailboxes as far away as California to send  phony checks, sham invoices, bogus leases and other false documents to banks in various states. Based on those documents, the banks lent RW millions of dollars to buy equipment and lease it out, prosecutors said. The schemes included multiple loans from different banks for the same medical equipment and loans for equipment that was never bought or leased,  prosecutors said.
Take the Money and Run: Part I, Part II, Part III

Capital Stream, (8/03) John Kruse, Jim Brady, Cliff Monlux Open New Company: MAINSTREET FINANCE. Kruse and Monlux were original founders of CapitalStream, originally System 1 and Capital Advantage (6/03) Raises money for acquisitions, first move is to Buy Decision Systems International American operation. (1/2003)John Kruse has left the building. (10/2002) Corporate take-over by Wired Capital, complete new management team and officers, John Kruse now "salesman." For a full story click here (3/2002) Steve Campbell Resigns as CEO,  (8/2001) John Kruse, VP, Account Development, announces another reduction of staff as  "... precautionary measures because we don't see an immediate resolution to the economic  downturn. We still remain financially healthy, and believe that reducing our capacity is a prudent business decision." Hal Hayden, Jim Buckles, Randy Anderson, many sales people  gone.

Bay View Capital, San Mateo, CA (7/03) (the Company) reported net assets in liquidation of $409.9 million, or $6.37 in net assets in liquidation per outstanding share at June 30, 2003 as compared to $411.0 million, or $6.41 in net assets in liquidation per outstanding share at March 31, 2003. (8/2001) Jeff Allard last day, door now closed says "Goodbye", going to co-produce "Texas Chain Saw Massacre" movie.  (7/2001) reports a second quarter 2001 net loss of  $95.4 million.  (5/2001) Jeff Allard, CLP, COO ... "decided to exit the commercial leasing business and other business lines due to the strategic change in the company's direction as determined by the new management team."  Parent company running out of money, a lot of good people let go.  (2/2001) reports fourth quarter net loss of $92.5 million.  (12/2000) Announces $17 million loss/later does not issue dividend.

Merrill Lynch Financial (7/03) Merrill Lynch Capital To Be a Major Player: Remiker appointed John Settano as Director of Syndications to Merrill Lynch Capital Equipment Finance. Mr. Settano, a veteran of US Leasing for twenty-eight years, has extensive transaction structuring, pricing, documentation, tax leasing, credit underwriting, and product distribution experience with a solid reputation in the leasing industry. (4/03) Robert E. Radway, Managing Director and President, Merrill Lynch Capital, announced the appointment of Richard J. Remiker as Managing Director of its Equipment Finance Group (3/2003) Merrill Lynch Business Financial Services is working with De Lage Landen Financial Services, Inc. of Wayne, PA., enters online lease financing from $10,000 to $2 million-plus for a wide range of commercial equipment. This includes computers, software, telephone and voice-mail systems, medical, dental and diagnostic equipment, construction and materials handling/industrial equipment, and more.

CIT / Group (7/03) CIT Elects Jeffrey M. Peek President & COO, Reorganizes Senior Management Structure (8/2002) CIT Execs/Directors take stock Bonuses  (7/2002)  The 200 Million share offering, led by Goldman Sachs and Lehman Brothers went out at $23 each.  Tyco Intl in a bid to ease its heavy debt load, raised $4.6 billion from the sale of its CIT Group, accepting half of what it paid for the finance Company a year ago.  (6/2002) Tyco loses 30% of stock value, insider loans and shenanigans by directors  embarrassing to all, maybe illegal, too, says SEC, IRS, State Attorney General. (6/2002) CEO Dennis Kozlowski---Delusions of Grandeur: Tyco gets a lot worse, like a dark Opera, CEO resigns, directors taking private loans, and talk is they should all  resign (5/2002) Tyco to spin off CIT within 45 days (5/2002) Tyco to pay off $10 billion debt by selling CIT(4/2002)CEO Al Gamper says this is the "quiet period" to employees on  line.(3/2002)board member borrows millions, loans to insiders made. (2/2002) Tyco International pledged to accelerate its breakup plan, starting with a spin-off or sale of its Tyco Capital finance arm within 8 to 12 weeks. (2/2002) Participants at the Equipment Leasing Association Annual CEO Forum, Feb. 4-5, expressed doubt that Tyco can successfully spin off it financial unit, CIT,  through an IPO. Prez. Kozlowski says $10 billion- paid too much for CIT, analysts say will sell for  $7.7 billion to $12 billion. Stockholder suit against company. Says Kozlowski made too much money-finder fee to director Walsh too much. Trouble in River City, however Kozlowski  holding it together, But the shares remain 49% below where they started the year. (1/2002) Tyco to Separate Into Four Independent, Publicly Traded Companies.   (10/2001 ) Tyco Makes it Official: CIT Tyco Capital (8/2001) Many opt to move to Tempe, AZ, stay with CIT, become bold, challenge GE and others in the marketplace, morale up, company on the move. ( 5/2001) CIT Shareholders Approve  Proposed Tyco-CIT Acquisition (3/2001) Tyco International Ltd. makes offer for about $9.2  billion in cash and stock in a deal that would allow the manufacturer to finance purchases of its wide array of products. Bermuda Hq, N.H.. operation office. ( 2/2001) Closing Atlanta  office and others, "freeze" on  new broker business from this office (5/2001) Bruce Nelson,  Tempe, Arizona seeking broker business. "We are an asset based lender and provide equipment financing in the following industries: Construction, Transportation, Logging,  Material Handling, Corporate Aircraft, Mining, Energy, & Marine."

Matsco Financial (7/03) Greater Bay Bancorp Reports Net Income of $48 Million for the First Six Months of 2003; Credit Quality Stable and now in compliance. Greater Bay Bank telephone conference:" Didn't sell any Matsco loans (securitizations last quarter due to operational problems, these loans are in the 1 ½ million to 2 million dollar range---problem is primarily due to a front system conversion, not complete, that will allow Matsco to save a quarter million a month in operation expenses when it is up and running (said in question and answer session at end of conference). Basically Greater Bay Bank is a "business bank" and should not be compared to peers who are more into consumer finance; they are a relationship bank and want to continue in that manner. Personal guarantees are important in real estate because in many instances the president of the bank can go to the person directly and ask them to stand up; the bank plans to be tight on operations and even more so, the local economy has been one of the toughest, especially the last couple of years, but the bank is in a strong position when the bay area turns around, capital levels very strong, although loans have been sluggish recently, but perhaps will move soon as there are some signs, less commercial real estate loans, no residential mortgages on balance sheet, loans were "flat," didn't sell any Matsco loans this last quarter due to operational problems, but plan to soon in the 1 ½ to 2 million dollar range (7/03) Having problems with vendors (Patterson Dental), real problem with operation system, while parent Great Bay has their own with their last audit. Shieman to make announcement (but does not.) (5/2003) Reliable sources report commercial and broker division shut down, people let go, company to work solely on captive vendor, dentistry, veteran,CPA marketplace. President Matt Shieman was to give a statement on this at the beginning of this week, but has apparently changed his mind. (12/2000 purchased by Greater Bay Bank)



SALES: Los Angeles, CA. Successful leasing company in business 10+years seeking experienced sales professional in vendor programs.Generous commissions,benefits and growth potential.






*** announcement *********************************************


AGLF November 12 Tucson,  Arizona Conference


Association for Government Leasing and Finance





Wednesday, November 12

Noon Annual Golf Tournament

2:00 PM – 4:00 PM Basics Session



Thursday, November 13

8:00 AM – 1:30PM Keynote Speaker, General Sessions and Luncheon


Evening – Annual Conference Dinner Event



Friday, November 14

8:00 AM – Noon General Sessions, Ending with the Lawyers’ Panel



**** announcement****************************************


AELA Newsletter---New Arizona Leasing Association Nov. 13 Meeting


Arizona Equipment Leasing Association proudly announces our  1st issue of the newsletter attached here for your review. Our last meeting was a success and our next meeting is November 13th. Thanks to all the members who have joined and we look forward to seeing you at the next meeting.



AELA Board.

Patrick Sponsel


*** Announcement **********************************************


MAEL ANNUAL DINNER   November 18th



Plan To Be In Chicago November 18th, 2003 To Attend


The 21st Annual Dinner Meeting

                 of the

MidAmerica Association of

Equipment Lessors


you won't want to miss...






Anthony Galie, the motivational hypnotist!



The MidAmerica Association of Equipment Lessors ("MAEL"), ELA's largest

regional affiliate, will be hosting its 21st Annual Dinner Meeting at

the Westin Hotel @ O'Hare in Rosemont, Illinois.



*** announcement ************************************************


EAEL November 19th Linthicum, Maryland


Scott Wheeler and Dennis Horner of The Equipment Leasing Company and Nancy

Pistorio, Madison Capital, LLC our hosting an Eastern Association of Equipment

Lessor;s  networking cocktail  reception November 19 at the Holiday Inn, BWI Airport, in Linthicum, Maryland.


Come  and mingle with your peers and find out what is happening in the Mid-Atlantic.

For more information, contact the EAEL office at 914 381 5830 or email



**** announcement *************************************************


UAEL Southern California Xmas Party December 4


Tis the  Season ...

Mingle & Jingle at our 2nd Annual United Association of Equipment Leasing Southern California Holiday Cocktail Party & Charity Event


Date:                Thursday, December 4, 2003


Time:                5:30 PM to 8:30 PM


Location:          Café Tu Tu Tango

20 City Blvd West

Orange, CA 92868

                          (714) 769-2222



Details:             Menu:  Hors d'oeuvres, Dessert, No-Host Bar

Entertainment:  Salsa Dancers will spice up this holiday party!

Charity Event:  Join us and bring an unwrapped toy that will be donated to Fire Station #1, Fountain Valley, CA.  (Information to follow)


Cost:         $15.00 UAEL Member "Early Bird"  Ticket

$17.50 Non-UAEL Member "Early Bird" Ticket

** Ticket Prices after 11-10-03:   $25.00** 


Reserve your ticket today by emailing Gina Iacono at


A special Thank You to Bank Of The West, Financial Pacific Leasing, Orion Financial Services, PFF Bank & Trust and Santa Barbara Bank & Trust for your contribution and support!


Event hosted by UAEL Southern California Regional Committee

Barbara Griffith, Tom Mulally, Mohammed Ahsan, Russ Munson, Larry Turner, Gina Iacono



***  announcement ***********************************************



UAEL San Francisco Bay Area Xmas Party- December 10


Northern California United Association of Equipment Lessors look for

a Christmas party on 12/10/03 in Walnut Creek at McCovey's from 4-6.

Food compliments of Paul Knowlton,  Bank of Walnut Creek, and a no host bar.

They have a lot of money for leases and for a party, so this will be a good one to attend.

More information to follow, but please save  the date.


*** announcement *******************************************




Seeks experienced small ticket B2B leasing sales professionals in the western U.S. Very generous commission sharing with salary draw and benefits. Resumes


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


GE Business Credit Appoints  Kathleen Lepak SVP and Regional Manager



GE Business Credit, a unit of GE Corporate Financial Services, announced that it has named Kathleen Lepak as senior vice president and regional sales manager for the Northeast, mid-Atlantic and southeast U.S. As senior vice president, Lepak will manage new business development initiatives in these regions for all asset-based lending transactions ranging between $5 million and $30 million.


With 23 years of corporate finance experience, Lepak previously served as vice president and business development manager of Wells Fargo Business Credit, where she was responsible for driving new business growth initiatives in the eastern U.S. from Maine to Florida. Prior to her management position at Wells Fargo, she worked as vice president business development officer at Wells Fargo, 1994 - 1997; vice president loan administrator for Affiliated Business Credit Corporation, 1989 to 1994; and vice president loan officer for CSB Financial Corporation, 1980 to 1988.


"We are pleased to announce the addition of Kathleen Lepak to the GE Business Credit team," said Andrew Waterson, managing director for GE Business Credit. "Kathleen has deep corporate finance experience and we are extremely confident she will continue to add value in our efforts to successfully market GE's experience and the sophisticated portfolio of finance products and services on which our clients rely."


Lepak is the past president of the Commercial Finance League of Connecticut, director/past president of the Connecticut Chapter of the Turnaround Management Association, former director of the Connecticut Venture Group, and director/vice president of University Relations for the National Turnaround Management Association.


She obtained a B.A. degree, magna cum laude, from the University of Connecticut in 1978 and an M.A. degree from Trinity College in 1983.


For more information on the businesses and products of GE Corporate Financial Services, please visit



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





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Canadian Oak Barrels Get the Nod From Winemakers,1145,2249,00.html





This Day in American History


    1701- The Carolina Assembly passed a Vestry Act making the Church of England the official religion of the Carolina Colony. (Strong opposition by Quakers and other resident Nonconformists forced the colony's proprietors to revoke their legislation two years later.)

        1751- Margaret Molly Corbin birthday, revolutionary war hero who was near her husband at a battle when he was killed (women were on the battlefields of the war both as participants and as water, food, and munitions suppliers) and she immediately took over the cannon until she was wounded by enemy fire. Disabled, she lost the use of her left arm, she was granted a soldier's half- pay as a pension, was considered a full member of the military until mustered out in 1783. Margaret Corbin was listed on military rolls until April 1783. In 1926, the Daughters of the American Revolution had her remains moved from an obscure grave and re-interred with other soldiers behind the Old Cadet Chapel at West Point where they also erected a monument to her. Near the place of the battle, in Fort Tryon Park in New York City, a bronze plaque commemorates Margaret Corbin "the first American woman to take a soldier's part in the War for Liberty".

        1775 -General Washington forbids recruiting officers enlisting blacks

who were not “free men.” He later rescinds this as many blacks enlist

in the British Army to earn their freedom from slavery.(Washington

was from Virginia and was one of the largest land owners and slave

owners in the state. As a side note, his best friends included the father

of Robert E. Lee, who was to become a Confederate general. Henry Lee

was to be the main drafter of the Declaration of Independence as

he was very popular, very well respected and  educated, but due to a family emergency at his farm, he suggested Thomas Jefferson fill his stead. Coda:

In the 1800’s, Washington freed many of his slaves, who continued to work

the land as “free men” and after his death granted land to those remaining.

        1815- birthday of Elizabeth Cady Stanton; American woman suffragist and reformer, Elizabeth Cady Stanton was born at Johnstown, NY. “We hold these truths to be self-evident,” she said at the first Women’s Rights Convention, in 1848, “that all men and women are created equal.” For 54 years  she was the women's rights movement's principal leader, organizer, theorist, and writer. Preserved the early women's movement her story in the first three volumes of the monumental History of Woman Suffrage (1881-1922) written along with Susan B. Anthony and Joseyln Gage.  She died at New York, NY. Oct 26,1902 You can read some of Stanton's works in the WiiN Library:

       1864- Union General William T. Sherman orders the business district of Atlanta destroyed before he embarks on his famous March to the Sea.When Sherman captured Atlanta in early September 1864, he knew that he could not remain there for long. His tenuous supply line ran from Nashville, Tennessee, through Chattanooga, then one hundred miles through mountainous northern Georgia. The army he had just defeated, the Army of Tennessee, was still in the area and its leader, John Bell Hood, swung around Atlanta to try to damage Sherman's lifeline. Of even greater concern was the Confederate cavalry of General Nathan Bedford Forrest. Forrest was a brilliant commander who could strike quickly against the railroads and river transports on which Sherman relied.

During the fall, Sherman conceived of a plan to split his enormous army. He sent part of it, commanded by General George Thomas, back toward Nashville to deal with Hood while he prepared to take the rest of the troops across Georgia. Through October, Sherman built up a massive cache of supplies in Atlanta. He then ordered a systematic destruction of Atlanta to prevent the Confederates from recovering anything once the Yankees had abandoned the city. By one estimate, 37 percent of the city was ruined. This was the same policy Sherman would apply to the rest of Georgia as he marched to Savannah. Before leaving on November 15, Sherman's forces had burned the industrial district of Atlanta and left little but a smoking shell.  In retaliation, the Confederates attempt to burn New York City

on November 25th (more on this on November 25th)  As a side note: Historians

believe much of the destruction of Atlanta was also caused by Confederate

soldiers leaving no supplies for the invading Union Army, causing fires

in residential areas.

        1892-William “Pudge” Heffelfinger became the first generally-acknowledged professional football player when he was paid $25 for expenses and a cash bonus of 4500.  It was the cash bonus that made him professional.  Scoring the winning touchdown for the Allegheny Athletic Association, he helped his team beat the Pittsburgh Athletic Club, 4-0.

        1911- Trumpet player Buck Clayton Birthday

       1915 - Harvard University's Theodore W. Richards became the first American to be awarded the Nobel Prize for chemistry. He was given his award in Stockholm, Sweden.

       1920- in the wake of the growing scandal surrounding accusations that members of the Chicago White Sox conspired to fix the 1919 World Series, baseball owners appointed Federal Judge Kenesa Mountain Landis, the game’s first commissioner with extremely broad powers.  Landis replaced the National Commission, a three man governing board,  to a seven-year term from 1921 to 1928.  He received a salary of $42,500 a year plus $10,000 for expenses to rule the 16 American and

National League baseball clubs.  He was re-elected three times and died in office on November 24, 1944.

       1925-First Louis Armstrong Hot Five recording, Chicago (Okeh label)

       1920- an underwater highway tunnel with twin tubes was started this day to run from New York City to Jersey City under the Hudson River.  It was named after its chief engineer, Clifford Milburn Holland.  It was opened on November 12,    

       1927- by President Calvin Coolidge, who gave the signal form the presidential yacht Mayflower anchored in the Potomac River off Washington, DC.  In that first hour, 20,000 people walked through the tunnel from shore to shore.  Vehicular traffic was allowed through on November 13, 1927.  1921, the first conference of great powers to be held on American soil and affecting American interests was the Conference on the Limitation of Armaments, which was assembled at Memorial Continental Hall in Washington, DC, from this day to February 6, 1922.   Nine nations took part in this conference: The United States, Great Britain, France, Italy, Japan, China, Holland, Belgium, and Portugal.  The American delegation was headed by Secretary of State Charles Evans Hughes.

          1925- Louis Armstrong Hot Five makes their first recording, Chicago, ILL Okeh

       1929- birthday of Grace Kelly; American award-winning actress (Rear Window, To Catch a Thief) who became Princess Grace of Monaco when she married that country’s ruler, Prince Rainier Ill, in 1956. Born at Philadelphia, PA, she died of injuries sustained in an automobile accident, Sept 14, 1982, at Monte Carlo, Monaco. 1936 –San Francisco-Oakland Bay Bridge opens.

       1933-First Sunday football game in Philadelphia (previously illegal)

         1941-Madame Lillian Evanti, opera singer, founds the National Negro Opera Company.

         1942 - The naval battle of Guadalcanal began between Japanese and American forces during World War II.  The battle lasted un November 15. The U.S. scored a major victory, inflicting heavy losses on a Japanese task force and preventing Japanese reinforcements from reaching the island. The early TV series “Victory

at War” captures much of the famous battle.

        1945-Singer Neil Young born Toronto, ON, Canada.

        1946- drive-in banking service was instituted by the Exchange National Bank of Chicago, IL.  Ten tellers’ windows protected by heavy bulletproof glass and impregnable corrugated steel were equipped with automatic slide out drawers to enable motorists to transact business without leaving their cars.

        1951---Top Hits

Because of You - Tony Bennett

Sin (It’s No) - Eddy Howard

And So to Sleep Again - Patti Page

Slow Poke - Pee Wee King

        1955 - The worst recorded attendance to a football game occurred in the Washington State vs. San Jose State game at Pullman, Washington. The game was played as scheduled, despite high winds and a temperature of 0 degrees F. The total paid attendance was 1.

        1959---Top Hits

Mack the Knife - Bobby Darin

Mr. Blue - The Fleetwoods

Don’t You Know - Della Reese

Country Girl - Faron Young

        1967 - On Broadway, Pearl Bailey took over the lead role in the musical, "Hello Dolly". "Pearlie Mae", as Buck was called, was a hit.

       1967 - The Detroit Lions set an NFL record by fumbling the football 11 times and losing it 5 of those times.

        1967—Top Hits

To Sir with Love - Lulu

Soul Man - Sam & Dave

It Must Be Him - Vikki Carr

You Mean the World to Me - David Houston

        1968-baseball player Sammy Sosa born San Pedro de Marcoris, Dominican Republic.

        1968 --  Supreme Court voids Arkansas law banning teaching of evolution in public schools. Alabama continues warning high school students evolution is 'controversial', putting stickers on biology books.

        1972- Don Shula of the Miami Dolphins became the first NFL coach to win 100 regular season games in only 10 seasons as the Miami Dolphins defeated the New England Patriots, 52-0.

       1975---Top Hits

Island Girl - Elton John

Lyin’ Eyes - The Eagles

Who Loves You - Four Seasons

I’m Sorry - John Denver

        1981 - The space shuttle Columbia was launched for the second time; it was the first space vehicle to be used more than once.

        1983 - Lionel Richie started the first of four consecutive weeks at #1 on the music charts as "All Night Long (All Night)" became the United States most popular song. 

        1983---Top Hits

Islands in the Stream - Kenny Rogers & Dolly Parton

All Night Long (All Night) - Lionel Richie

One Thing Leads to Another - The Fixx

Somebody’s Gonna Love You - Lee Greenwood

       1986 - For the first time in the history of the NBA both head coaches were absent from the game when coached K.C. Jones and Don Nelson were too sick to be at the Boston-Milwaukee game. The Boston Celtics had their 44th straight home victory as they defeated the Milwaukee Bucks 124-116.

        1986- Red Sox Roger Clemens becomes only the second American League pitcher to unanimously win the Cy Young Award. Denny McLain was the first to accomplish the feat in 1968.

        1988 - "Rattle and Hum", the album by U2, started a six-week run at the top of the U.S. album charts. Hum along now, as we list the tracks on the "Rattle and Hum": "Helter Skelter", "Van Diemen’s Land", "Desire", "Hawkmoon 269", "All Along the Watchtower", "I Still Haven't Found What I'm Looking For", "Freedom for My People", "Silver and Gold", "Pride (In the Name of Love)", "Angel of Harlem", "Love Rescue Me", "When Love Comes to Town", "Heartland", "God Part II", "The Star Spangled Banner", "Bullet the Blue Sky", "All I Want is You".

       1991—Top Hits

Cream - Prince & The N.P.G.

Can’t Stop This Thing We Started - Bryan Adams

Real, Real, Real - Jesus Jones

Someday - Alan Jackson

       1996-Reverend Jesse Jackson threatened to lead a potentially crippling boycott against Texaco if  the oil giant failed to settle a lingering racial- discrimination lawsuit. Six Texaco employees initially filed the $520 million suit in 1994; the ensuing years saw the case mushroom into a complaint backed by some 1,400 workers. Despite growing pressure, Texaco was slow to respond to the case. However, Jackson's involvement, coupled with the revelation of a "secret" audio tape that captured Texaco executives making racial slurs and plotting to derail the lawsuit, helped bring the case to a close. On November 15, Texaco announced what was believed to be a $ 175 million settlement to the case, which included a one-time salary boost for minority employees, as well as the establishment of "diversity training and sensitivity programs".

        1998---Top Hits

Doo Wop (That Thing)- Lauryn Hill

Lately- Divine

The First Night- Monica

One Week- Barenaked Ladies

        2002- Miguel Tejada, who receives 356 points from the Baseball Writers' Association, including 21 first-place votes of the 28 cast, is selected as the American League's Most Valuable Player. The A's shortstop joins countrymen Sammy Sosa and George Bell as Dominican Republic natives to win the award.






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The Deal is in the Details


WHERE: RAMADA INN, 324 East Shaw,
Fresno, CA 93710
Tel: 559 224-4040
TIME: 9:00 a.m. to 4:00 p.m. (lunch on your own)


    How to read and interpret your prospect's financial statements.
    How to qualify your prospects.
    How funders look at full disclosure transactions.
    How to understand what the real story is in your story credit.
    How to explain your deal to your credit manager or funder.
    How to make the best use of your selling time.

The class will be presented by Bob Teichman, CLP, an industry veteran celebrating his 40th year in the equipment leasing business.

COST: $245 (first attendee from a company)
$225 (for each additional attendee from a company)

For more information call: 415 331-6445 or e-mail

Pre-register by sending your check to:
Bob Teichman, CLP
Teichman Financial Training
3030 Bridgeway, Suite 213
Sausalito, CA 94965
Tel: 415-331-6445

Registration at the door on a space-available basis only.

"Providing education and training to the equipment leasing and financing industry."

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