Monday, October 31, 2005
Happy Halloween http://memory.loc.gov/ammem/today/oct31.html Headlines--- Classified Ads---Sales ######## surrounding the article denotes it is a “press release” For Christmas or a Thanksgiving gift for your top performing staff member.
Note: New feature Readers are invited to send in their review of a restaurant they want to recommend to their colleagues ------------------------------------------------------------- Classified Ads---Sales Sales
For a full listing of all “job wanted” ads, please go to: http://64.125.68.91/AL/LeasingNews/JobPostings.htm To place a free “job wanted” ad, please go to: http://64.125.68.91/AL/LeasingNews/PostingForm.asp ------------------------------------------------------------- ELA Holds Firm on Conference Cancellation Policy Fleming to Retire by Christopher Menkin From a NorVergence lessee ( who reads Leasing News and obviously conveys back to their list serve or blogs, as this is the source: ) “Read Friday's leasingnews.org. It seems that many Equipment Leasing Association members were no shows for the latest ELA conference in Boca and are mad because they can't get a refund for the attendence fee. I laughed out loud at the thought of a bunch of leasing companies, who live and die by "hell or high water" clauses kicking and screaming about their own ‘hell andhigh water' problem. “It's not ELA's fault they couldn't fly,drive,swim to the conference. It's not the hotel's fault. Guess they should look at that holder in due course thing and look to God for retribution. “When one lives by ‘hell and high water' one should live by ‘hell and high water', so quit whining...(it's similar to the) rip off of many thousands like their ‘customers' routinely experience.” Karen Layman Dynamic Journeys Katy TX (Where we don't get excited about a little rain) From Boca Raton ELA Registration Form “Individuals who cancel on or before September 19, 2005, are entitled to a full refund. Cancellations for any reason received after that date will be subject to a $100 service fee per registrant. Under no circumstances will refunds of any kind be made for cancellations made after October 13, 2005. Telephone cancellations must be followed up by a letter or email indicating the ELA staff member who accepted the cancellation. The letter or email must be received by November 14, 2005, in order to receive a refund. All cancellation and refunds policies apply to both convention attendees and their spouse/companions.” Registration fees were $1,550 with ELA member discount. In an open letter on the Equipment Leasing Association Web Site, and also reported in ELTnews, Joseph C. Lane,Former ELA Chairman,Current Equipment Leasing and Finance Foundation Chairman, not only defending the policy of not returning registration fees, but also "announced,"the retirement of ELA president Mike Flemming: "Finally, while we tried everything possible to postpone and forestall your retirement, even the forces of Nature appear to be incapable of taking you off schedule. We all wish you the very best, and as said so many times in so many ways during this, your last convention as President of the ELA, you have been the personification of our industry in a way that makes us all proud. Thank you." Here is the full letter: http://leasingnews.org/PDF/Rising%20to%20the%20Challenge.pdf ELA President Mike Fleming open letter on the web site thanked the staff and hotel and others for their hard work at the conference, concluding: "Over the years, we have done countless surveys among members to rank the value propositions of the convention, and the "opportunity for networking" continues to be at the top of every list. This year, I heard nearly unanimous consent among those who attended that the opportunity for networking, discussion, getting to know each other better, and establishing some common platform for future business was perhaps better than any convention in our history... “The stories from the convention will grow and grow. Was it easy for people? No! Within three years we will all have been in waders and wearing life jackets and the camaraderie stories will be wonderful. “Hurricane Wilma was a serious event and left a large part of South Florida in bad shape, much worse than expected. All of the leaders of ELA wish that the convention that was planned could have been delivered as planned, but nature is powerful. You cannot apologize for nature; you must be in awe of it. One former chairman of ELA stood outside for much of the storm just to marvel at its speed and power. He observed that he "...now knows he hasn't seen everything, it was amazing." Here is the full letter: http://leasingnews.org/PDF/44th%20Annual%20ELA%20Conv.pdf Current and past ELA Board members came to the rescue of the conference, too, such as our good friend Debbie Monosson ( who is speaking as an individual and is specifically not a member of the current ELA board of directors:) “As one of the attendees let me respond to all the negativity. Yes, it was my choice to attend, I too went on the NOAA maps and made the choice to go. Was it the right decision? Yes and No. No..only because the lack of electricity extended beyond the hotel and became an issue flying out on Wednesday, I was lucky to find someone with a full tank of gas to drive us to Orlando and was home in Boston by 6:00 Pm. Yes, because I really got to know many ELA members who I have only conversed with in cocktail style banter in the past 10 years. “Those of us who were ‘stuck' there secretly had an enjoyable time and though I don't care for the wording "bonding" there was definately some going on between all of us. We came..we made the most of it and I didn't hear anyone complain. The hotel staff did a phenomenal job. There was electricity in the main lobby, the session rooms and the dining hall. The lack of a TV was not something that was high on my list of can't live without. It was almost a relief to not have to hear all the bad news going on in the world for 3 days. “ Most of us had hot water, there may have been one wing that did not. Would I want to sit through a Category 3 again? Probably not..but I made many new relationships and friendships at this convention then I ever have in the past. “...and Kit...why aren't those people who had such strong sentiments about this put there names where their mouths are? I still don't get it. “ Deborah J. Monosson (As quoted directly in Friday's story, including a statement on why one person did not want to give their name, many are afraid of retribution. Two courageous people, Chris Enbom and Mark Kitaeff, did want their name used and were not afraid to voice their opinion. As important, Leasing News knew who sent the e-mails, even though we did not print their name. We confirmed they were members of ELA, except for one, where we made an exception as the person is very active in two other leasing associations and very well-known to us. He didn't want to use his name, such as the following from someone else known to us: ) “Please pardon my anonimity. I attended the ELA confernece in Boca Raton. Let me first state that if there were 200 people in attendance, I would be shocked. When I checked in on Sunday at 3:30 PM, the attendee from the ELA told me quietly that only around 150 peole had registered at that point. So to state more than 200 people attended is an outright lie. “ The conference was a black eye for not only Michael Fleming but also the entire ELA Board who collectively allowed this conference to continue. I was foolish enough to attend this conference but to state that others should be expected to throw thier lives in harms way when the governor of the state declared a state of emergency is just plain irresponsible. “ The fact remains that the ELA has remained silent just as they did throughout the convention. Not once did anyone from the ELA let anyone know via an announcement that there would be issues related to leaving town on Wednesday. Would it have been so difficult to at least tell some of us what to expect? I stayed in town much later than most because I could not get a flight out nor get ride north. If someone had just told me to be aware of the potential problem, it would have been easier for me. The ELA as a whole has a responsibility not only to represent the leasing industry as a lobby group but also to safeguard the best interests of its membership and to put it plainly....they should care if we live or die. “I have no axe to grind with the association as I have been a member for over 15 years. But this entire event should have been cancelled. They made a mistake. That is acceptable. But now they need to own up and make it right for all those who not only attended but also those who did not (the wise ones).” A 15 year ELA Member ------------------------------------------------------------- Fleming Joins AAEL---1979 From Leasing Digest , September, 1979, UK publication: “IN AMERICA “Record turn-out at Reno Convention “There was a record turn-out of some 1,500 people at the annual convention of the American Association of Equipment Lessors, this year held in Reno, Nevada, from September 16-19. The AAEL President, Sam Eichenfield, described 1979 as being the most significant in the history of the Association, because it wa sthe year in which it became active rather than reactive. “This year th eAAEL moved its heardquarters from Milwaukee, Wisconsin, to Washingtoni, DC. For the long standing and respected serectary, Sideny R. Rose, this is retirement year and his last Convetion. In 1966 he joined th young association of 23 members, and it has since then grown massively in membership. (ELA started in the year 1961.) “With the move to Washington comes the appointment of the new Executive Secretary, Michael J. Fleming. Now in temporary offices in Wahsington he will move to new offices at 1700 North Moores Street, Arlington, VA 22209, from November 1. A sign of the importance of the new location lies in the fact that a reception for US Congressmen is being planned for October 22 when the AAEL will be asserting itself as an effetive voice in the political lobby.
Michael J. Fleming, CAE Twenty-Six years of leadership in the now Equipment Leaisng Association. “Throughout his career, Fleming has been involved in economic and political activity. He has been a teacher, lobbyist, political organizer, and trade association executive. Prior to serving as ELA President, Fleming managed state associations in Iowa and South Carolina. Mr. Fleming is devoted to the concepts of strong, active business leadership and believes that associations are most effective when they act in a proactive mode on behalf of their members. “Fleming earned a BA in Political Science and History and an MA in History and Economics with honors from Drake University in Des Moines, Iowa. He has done additional postgraduate work at several other major universities. “Fleming is an active member of several professional and economic groups. He is a past chancellor of the Exchequer Club of Washington, the organization for all financial industry trade associations and federal agencies in the financial services sector. He also served on the Board of Directors for the American Society of Association Executives (ASAE). He is currently a member of the Board of Governors of the City Club of Washington. He has been active in the business organizations of each major political party during his tenure at ELA. He is a member of the U.S. Chamber of Commerce's Committee of 100.” ELA Website biography ------------------------------------------------------------- Alco Leasing Joins the “Funder Only” List Listing is free. Qualifications include a clean Better Business Bureau report, no unresolved complaints at Leasing News, background check that the company is a “funder” and not a broker or superbroker. contact: kitmenkin@leasingnews.org Funders Only - Update A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
(K) Allco Leasing was purchased in April 2005 by LEAF Financial Corporation, a wholly-owned subsidiary of Resource America Corporation (NASDAQ: REXI). Allco Leasing provides a middle market leasing product for LEAF. We are not collateral oriented and are industry generalists. Allco specializes in rapid responses to difficult to understand credits operating within the “A- to B+“ arena. Startups are considered with experienced management and strong guarantors.
Full listing of Funder List: http://www.leasingnews.org/Funders_Only/Funders.htm
-------------------------------------------------------------- Classified Ads---Help Wanted Administration Manager
Lease Representative
Leasing Sales Manager
National Account Manager
------------------------------------------------------------- Top Stories---October 24-28
These are the top ten stories most "opened" by readers last week. (1) Uproar re: ELA Convention in Boca Raton http://www.leasingnews.org/archives/October%202005/10-28-05.htm#uproar (2) ELA Convention Boca Raton "Eventful Annual Convention Closes" Flash News-- (3) Sales Makes It Happen---Salespeople Aren't Marketers! http://www.leasingnews.org/archives/October%202005/10-26-05.htm#sales (4) Super Brokers' List http://www.leasingnews.org/archives/October%202005/10-25-05.htm#super (5) Top Ten Stories - October 17-21, 2005 http://www.leasingnews.org/archives/October%202005/10-25-05.htm#top10 (6) EFG is in Business despite Rumors http://www.leasingnews.org/archives/October%202005/10-28-05.htm#efg (7) R.W.Professional Trial Postponed Again http://www.leasingnews.org/archives/October%202005/10-28-05.htm#rw (8) Orix to Acquire Houlihan, Lokey Howard & Jukin? http://www.leasingnews.org/archives/October%202005/10-28-05.htm#orix (9) Classified Ads--Help Wanted http://www.leasingnews.org/archives/October%202005/10-26-05.htm#help (10) CSI Leasing, Inc. Selects SAP to Catalyze Change Processes http://www.leasingnews.org/archives/October%202005/10-25-05.htm#csi -------------------------------------------------------------- Cartoon---Christopher
###Press Release############################ Two New Healthcare Equipment Leasing Studies ARLINGTON, Va. -- $15 Billion in New Business Projected Over Next Two Years as Healthcare Equipment Sales in IT Systems, Outpatient Care Grow Two new studies were released today which provide complementary macroeconomic overview and market-specific details for use by the equipment leasing industry. The Equipment Leasing Association (ELA), the non-profit association representing companies involved in the forecasted $248 billion equipment leasing and finance industry, and R.S. Carmichael & Co., Inc., a marketing research and management consulting firm, White Plains, New York, have released a new report, Healthcare Equipment Leasing: U.S. Market Dynamics and Outlook 2005-2006. The Equipment Leasing and Finance Foundation, a non-profit organization dedicated to enhancing recognition and understanding of equipment lease financing, released its study researched by the University of Virginia Darden School, Long-Term Trends in Healthcare: Implications for the Leasing Industry. Together, The Healthcare Financing Compendium provides the most comprehensive information currently available on the dynamic healthcare market and its implications for the equipment leasing and finance industry. "These two studies provide thorough insights into the drivers of healthcare equipment leasing," said Ralph Petta, Vice President of Industry Services for the Equipment Leasing Association. "This is a tremendous resource for organizations in healthcare and equipment leasing to understand how the healthcare marketplace is financed and why." The ELA/Carmichael market study focuses on the leasing practices of healthcare providers, including hospitals, outpatient centers and physicians' offices. It also examines the market from the standpoint of healthcare equipment vendors and lease financing competitors. Highlights from the report include: -- The estimated size of the U.S. healthcare equipment leasing market in 2005 is at least $7.0 billion in terms of new volume. -- The healthcare equipment leasing market is projected to exceed $8 billion in volume by 2007, attributable mainly to forecasted equipment sales growth (as opposed to significant gains in lease penetration). -- Over the past five years the average annual rate of lease financing market growth in healthcare has been seven percent. -- Healthcare equipment leasing is primarily a "middle-market" business, with most transactions in the $250,000 to $5 million range. -- The hospital market represents a growth market for IT systems (e.g., digital radiology systems that store, retrieve, distribute and display medical images in digital format). -- The outpatient care market, especially the ambulatory surgery center segment, also continues to grow as a market for lease financing. -- When investment in all healthcare equipment is considered, lease financing penetration is relatively low and appears to be stabilizing due, in part, to reimbursement reductions, regulations affecting physician referrals, and a lack of awareness of leasing as a tool for equipment acquisitions. However, the upside potential remains substantial although leasing companies will continue to see challenges in realizing the potential opportunities. "Equipment leasing continues to represent a fundamental source of capital financing for healthcare providers," said Richard S. Carmichael, Managing Director of R.S. Carmichael & Co., Inc., which conducted the study. "Healthcare industry conditions such as steady growth, capital budget constraints and rapid technological changes create opportunities for equipment leasing to make greater inroads." The Equipment Leasing and Finance Foundation report features an overview of healthcare industry trends, a statistical analysis of leasing transactions and implications for leasing and finance organizations. Among the study findings: -- The healthcare industry in 2004 represented a $1.8 trillion annual market that accounted for 15.4 percent of total gross domestic product (GDP). -- Healthcare's share of GDP is expected to continue to increase every year to 2014 as healthcare expenditures growth are expected to outpace GDP growth. -- Small, professional firms are the most significant business form in the healthcare sector, followed by not-for profit organizations. -- The critical element in improving the productivity of the healthcare industry and reducing its cost growth is capital investment in productivity improving technology that will substitute capital for labor. "Knowledge of both historical and future trends in the healthcare industry is key to participating in this marketplace," said Lisa Levine, Executive Director of the Foundation. "The Foundation study on long-term healthcare trends provides those and other critical perspectives on the healthcare industry." ###Press Release############################ Houlihan Lokey Joins Forces with Tokyo-Based Financial Firm Orix LOS ANGELES, -- Houlihan Lokey Howard & Zukin, an international investment bank, announced today that it has agreed to join forces with ORIX Corporation (NYSE:IX, TSE: 8591), a leading integrated financial services group headquartered in Tokyo, in a move that will expand Houlihan Lokey's financing strength and global capabilities. Under the agreement, the two firms will establish a holding company that will own the business of Houlihan Lokey and the corporate lending operations of ORIX USA Corporation, a wholly owned subsidiary of ORIX. ORIX USA will own approximately 70% of the holding company, with Houlihan Lokey's current shareholders owning the remaining share. Houlihan Lokey will continue to operate under its current name and its existing management and board structure will remain in place. The combination between Houlihan Lokey and ORIX forms a uniquely attractive and complementary business platform. "Houlihan Lokey has had another record year of accomplishments in 2005, with continued strong performances in each of our product and industry lines, extension of our service offerings, and office expansion within Europe," said Jeffrey Werbalowsky, Co-CEO of Houlihan Lokey. "In light of the substantial growth in our corporate finance practice and the growing international demand for our services, this is the ideal time for us to join forces with ORIX, which will allow us to expand our presence around the world and specifically in Asia." Scott Beiser, Co-CEO of Houlihan Lokey, said, "Houlihan Lokey and ORIX form a great strategic fit. Our complementary business lines will be made even more valuable by the structured financing solutions and capital resources that ORIX has to offer, and we look forward to new opportunities to better serve our clients. In addition, we will continue to maintain our own strong identity and professional independence, focusing on providing the dedicated client services that we consider the core of our franchise." Yoshihiko Miyauchi, CEO of ORIX Corporation, said, "As a leading international investment bank, Houlihan Lokey's combination with ORIX will further strengthen our existing leadership in our core business areas. Working together with ORIX USA, Houlihan Lokey will be a dynamic vehicle in our strategy to enhance our U.S. presence, and we look forward to leveraging the respective strengths and natural synergies between the two organizations." The combined enterprise is expected to begin operations in the first quarter of 2006, with Houlihan Lokey and the ORIX USA Corporate Finance Group operating independently under their respective brand names. The holding company established to own the two entities will initially have approximately $2.5 billion in total assets. The new enterprise will have approximately 800 employees and operate from 10 locations in the United States and Europe. Houlihan Lokey was established in 1970 primarily as a provider of valuation services and has grown since that time to become the leading advisor in middle-market M&A transactions, one of the largest financial advisory firms in the United States, and a dominant global force in financial restructuring. The firm this year advised M&A clients such as MidAmerican Energy Holdings Co. in its acquisition of PacifiCorp and Mammoth Mountain Ski Area in its sale to Starwood Capital Group. Houlihan Lokey has also advised the official creditors' committees in the three largest bankruptcies of all time: Enron, WorldCom and Conseco. The firm this year opened a Paris office, its 10th worldwide location. ORIX Corporation is a publicly traded international financial services company with operations in 24 countries and regions worldwide. Its U.S. subsidiary, ORIX USA, is headquartered in Dallas and provides corporate lending, leasing and real estate services. Since beginning its operations over 20 years ago, ORIX USA has expanded its activities to virtually all aspects of middle-market commercial and real estate financing. About Houlihan Lokey Howard & Zukin Houlihan Lokey Howard & Zukin, an international investment bank, provides a wide range of services, including mergers and acquisitions, financing, financial opinions and advisory services, and financial restructuring. Houlihan Lokey has ranked among the top 10 M&A advisors in the U.S. for the past five years, has been the No. 1 provider of M&A fairness opinions for five consecutive years, and has one of the largest worldwide financial restructuring practices of any investment bank. Established in 1970, the firm has over 700 employees in 10 offices in the United States and Europe. We annually serve more than 1,000 clients ranging from closely held companies to Global 500 corporations. For more information, visit Houlihan Lokey's Web site at www.hlhz.com. About ORIX Corporation ORIX Corporation (NYSE:IX, TSE: 8591), is an integrated financial services group based in Tokyo, Japan, providing innovative value-added products and services to both corporate and retail customers. With operations in 24 countries and regions worldwide, ORIX's activities include corporate financial services, such as leases and loans, as well as automobile operations, rental operations, real estate-related finance, real estate, life insurance, and investment banking. For more information, please visit our Web site at: www.orix.co.jp/grp/index_e.htm. SOURCE Houlihan Lokey Howard & Zukin ###Press Release############################ Huntington Names Schroeder Vice President to Direct Leasing, TROY, Mich. – Vern K. Schroeder has been named vice president and vendor program manager for Huntington Bank's Equipment Finance Group. In this role, he will develop national vendor programs for Huntington and non-bank customers that speed transactions and provide leasing and finance options for their customers. Huntington's vendor financing programs give manufacturers, distributors and dealers the opportunity to increase equipment sales without the financial investment required to operate an in-house financing program for their customers. Prior to joining Huntington, Schroeder worked for Federated Capital Corp., Farmington Hills, Mich., where he served as president, CEO and director since 2001. He also served as president and founder of Technology Finance, a whole owned subsidiary of Fleet Capital Leasing. Schroeder brings more than 20 years of experience in management, sales and finance industries to this position. Schroeder earned a bachelor's degree from the University of North Dakota. He also graduated from the First Bank Commercial Lending School and received a Mini MBA in Business Administration from St. Thomas University in St. Paul, Minn. He resides in Troy. About Huntington Huntington Bancshares Incorporated is a $33 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 139 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of approximately 900 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Georgia, Tennessee, Pennsylvania, and Arizona; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Maryland, Florida and New Jersey. International banking services are made available through the headquarters office in Columbus and an office located in the Cayman Islands and an office located in Hong Kong. ###Press Release############################
News Briefs---- Expect Fed to raise rates again Tuesday http://www.usatoday.com/money/economy/fed/rates/2005-10-30-fed-usat_x.htm OOIDA sues firms for reneging on hurricane deal Seeking more than $5 million on behalf of hundreds of truckers who hauled ice and water for hurricane victims, OOIDA and three of its members have filed suit in federal court against a broker and a water company. http://www.landlinemag.com/Special_Reports/2005/Oct05/102705_OOIDA_vs_lipsey.htm Louisiana's transportation director said this week the state's entire road-building program would be in jeopardy unless the federal government quickly releases $100 million for emergency hurricane spending. http://www.landlinemag.com/todays_news/Daily/2005/Oct05/102705.htm#9 Silicon Valley humming again Tech giants turn on their smarts and figure out where to take the Internet 30-year mortgage rates hit 6.15%, highest in 15 months http://www.usatoday.com/money/perfi/housing/2005-10-27-mortgage-rates_x.htm ---------------------------------------------------------------
You May Have Missed There's no place left to hide from the crucible of competition ----------------------------------------------------------------
“Gimme that Wine” Too broad a stroke for labeling wines--_Eric Asimov-NY Times http://www.azcentral.com/home/wine/articles/1028winelabel1028.html ZORK NOT CORK – it was only a matter of time Actor Jeff Bridges to appear at Ledson My Chateau Is Your Chateau: B & B's in Burgundy's Vineyards ---------------------------------------------------------------
Restaurant Review New feature. Readers are invited to send in their review of a restaurant they want to recommend to their colleagues. Fog City Diner Get a Map Parking is a problem. Taking a cab is best, or just keep driving around the blocks until you find a meter open (there are health clubs in the area and parking is a premium). Great restaurant and bar. Busy all the time. A wait all the time. They will take telephone reservations. Built like an up-scale "diner". Food is fantastic. ----------------------------------------------------------------
Today's Top Event in History 1929 -- A little boy explodes some firecrackers on La Salle Street in Chicago and rumors quickly spread that gangsters who have lost heavily on the stock market are shooting up the street. Squad cars of police arrive to find a very bewildered little kid. "Despite the fact that there is a cherished legend in American folklore that pedestrians on Wall Street had to scurry out of the way of falling financiers, no such wave of suicides took place. Those (and there were countless) whose life savings had been wiped out were far too stunned & depressed to think of anything so violent as suicide." — Robert Goldston, The Great Depression ----------------------------------------------------------------
This Day in American History 1517- German Augustinian monk Martin Luther, 31, nailed to the door of the castle church in Wittenberg a list of 95 theological points he wished to debate, one of the major events in the founding of the new world, which was to become the United Colonies ( later changed to the United States.) The weakening of the Vatican controlled religion touched off the Protestant Reformation, which lead to seeking of religious freedom in all countries, but none as profound as the “New World.” Football Poem The Road Not Taken Two roads diverged in a yellow wood, Then took the other, as just as fair, And both that morning equally lay I shall be telling this with a sigh Robert Frost
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| 
