Kit Menkin’s Leasing News

www.leasingnews.org   Monday,  October 7, 2002

Accurate, fair and unbiased news for the equipment Leasing Industry

Friday’s Leasing News posted www.leasingnews.org  at 10:00am PDT

 

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Headlines---

          Picture from the Past—Kit Menkin/Jim Kalinski

           Classified Ads—Jobs Wanted

              The Week's Economic Events

    Microsoft Capital Up-date

     UAEL Elects First Female President

      Commercial Money Center Last Day for Credit Filing

       Growing losses cause anxiety for truckers idling at ports

         Port dispute turns on technology--S.F.Chronicle

          ELA Conference Starts This Sunday-Over 1,000 registered

           Key Equipment Finance Lease Advisory Services

             Monday--Odds and Ends

              Universal Express -USXP- To Acquire ATM Paycard LLC

                 **Lipton's Ten Questions

 

### Denotes Press Release

 

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  Pictures from the Past

         

1977

James J. “Jim” Kalinski, General Partner Christopher “Kit” Menkin, Managing Partner
American Leasing,
Santa Clara, California

(1990 picture of Jim, latest one in the file)

 

 

Classified Ads---Job Wanted

 

 

Finance: Lyndhurst, NJ

CFO w/20+ years leasing/financing. Respected by lenders/rating agencies full & fair financial reporting. Outstanding record restructuring debt. Adept at investor relations and mentoring people. Email:joemcdev@aol.com

 

Operations: Wayne, NJ

20+ heavily experienced collection/recovery VP looking to improve someone's bottom line. Proven, verifiable track record. Knowledge of all types of portfolio. Will relocate Email:cmate@nac.net

 

Sales: Tampa, FL

Experienced Outside leasing professional seeks direct funding company. 3 years direct experience. Construction, Capital equipment experience. Bi-lingual English/Spanish. Seek employee basis only. Email:holybull@hotmail.com

 

  for full list, please go here:

 

http://65.209.205.32/LeasingNews/JobPostings.htm

 

 

The Week's Economic Events

 

 

October 7

MONDAY

Consumer Borrowing:  August

 

October 8

TUESDAY

None

 

October 9

WEDNESDAY

Nobel Prize in Economic Science awarded in Stockholm, Sweden.

 

October 10

THURSDAY

Sales of Leading Retailers: September

Weekly Jobless Claims

Freddie Mac, the mortgage company, reports on mortgage rates.

 

 

October11

FRIDAY

Producer Prices: September Retail Sales

.

October 13

Sunday

Equipment Leasing Association

San Francisco Conference

(Leasing News will have daily reports

on the conference---stay tuned ).

_________________________________________

Microsoft Capital Up-date

 

Microsoft Capital does not accept any broker business nor has a “private

label” program, according to a Microsoft spokesman.

 

Microsoft Capital was set up specifically for OEM and Microsoft

partners.

 

http://www.microsoft.com/licensing/programs/open/finance/faqcredit.asp

 

http://www.microsoft.com/licensing/programs/open/finance/

 

http://www.microsoft.com/presspass/inside_ms.asp

 

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UAEL Elects First Female President

 

Oren Hall, emeritus member, former president of the United Association of

Equipment Leasing (UAEL), made the motion from the floor, and President

Bob Fisher, CLP, made the announcement, “ In the first 26 years of

our association, we  now have a female president, Bette Kerhoulas, CLP. “

 

2000
Bette Kerhoulas, CLP
Pacifica Capital
(“Winner of Closest
to the Pin”)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Also elected were vice-president Jim Coston, Coston & Lichtman, Secretary/Treasurer, Terey Jennings, CLP, Financial Pacific Leasing , Peter Eaton, CLP, Pentech Financial Services, Bob Baker, CLP, Wildwood Leasing, John Donohue, Direct Capital, Dwight Galloway, CLP, Republic Financial, Brent Hall, CLP, Pinnacle Capital, Victor Harris, Law Offices of Victor Harris, Marci Kimball, ACC Capital, John Kruse, CapitalStream, Jim McCommon CLP, Brad Peterson, Manifest Funding Services Bob Teichman, CLP, Teichman Financial Training.

 

Taking the microphone, Bette Kerhoulas, CLP, president of Pacifica- Capital,

promised to continue the theme of “ education, networking, and involvement.”

 

“Get together, see what is happening, and be involved,” she said.

She also announced the next two conference, Palm Spring, California,. the first week of May, 2003, and Portland, Oregon, second week of October, 2003.

 

Her theme she said centered around “R’s”

1) resilient

2) Renew, redirect, realign, recapture, restructure, readjust—all

to go forward.

3) Ripple, as in the ripple effect, through an rock into the water and

the ripple, the effect it has.

 

She also discussed the California Tax Audit of her company, that

she felt would not only affect all lessors and discounters in California,

but other states, as she was now being audited by the State of Texas.

She said she was in contact with the Equipment Leasing Association.

 

“The states are looking for fee increases and as the auditor told us,

leasing companies have been overlooked,” he said.

 

“1.Sales tax on document fees ( in California mortgage companies

and automobile dealership are paying taxes on document fees.)

If it charged separately, in a separate document, it may not

be part of the sale and therefore not subject to sales tax. I n California,

they are going back three years on this and penalties.

2. True lease transaction or defined purchase options, if they are part up

the up front cost and not on the stream, if the assignment transfers the

title, whether master or separate assignment per lease, they are subject

to sales tax, even if you have a tax re-sale card, as the taxing authority

considers this another sale. We are contesting this.

3. Proof of assignee paying the sales tax ( if in the transaction, the funder

is to pay the sales tax or assignee, proof that it was paid---CMC, MSM,

and other situations exist where the sales tax was not paid, and therefore

is the discounters responsibility and obligation).

 

The Top Gun Conference in San Diego was cheered by all those who attended,

including many accolades to chairman John Kruse and his committee. High

energy was experienced, including many very happy exhibitors who were

booked up during the entire time.  One of the words used to express the feeling

of the conference was “nurturing,” as members were “nurtured” by each other.

 

The budget was for 430 members, but chief operating officer Joe Woodley, CLP,

was very satisfied with the actual 330 attendance.  Membership director

Bob Grohe was also pleased at the turn out and member support, especially

in view of all the negative economic news. It was obvious to him, he said,

that members need to get together and talk to each other about their

experiences and learn from each other.

 

President Bob Fisher in his speech let his hair down about the changes in attendance at regional and other meetings, which matched the economy and the state of the leasing industry. One of the highlights of the business meeting was the photo’s of Fisher from being in the Marine in Vietnam, to teaching, running marathons, and pictures of his family and children during their vacations.

 

Leasing News sponsored two workshops and due to this could not

visit the others, which were not repeated, so the news is about the

Top Gun Sales Men and Sales Managers. A report on other aspects

of the conference is expected for tomorrow’s edition.

 

The first workshop “Top Gun Sales Men” was standing room only, with all 90 seats taken, and people standing as Jim Raider,   Ignacio Sanchez,   Tony

Sherwin and Eric Sidebotham spoke. Basically, they do $25,000

to $75,000 transactions as an average, making eight points ( Eric

said he would make less to make the deal and Raeder said there

were other fees, did not do any deals less than $10,000, started

work at 7:30am, made 50 t0 75 marketing calls minimum (although

Tony Sherwin made this amount; he called existing clients and vendors),

all had lunch, left around 6pm, did not take calls at home, nor did they

work on weekends.  All at the beginning of the year decided how much

money they needed to make, and set this as their goal.  They did

a lot of research on industries to call, were well-read, active on

the internet, did a lot of market research on who to call, used

trade show lists published on the internet, had many innovations.

 

They were all asked James Liston ten question that he uses on

Bravo’s “Inside Actors Workshop”*  Jim Raeder was the

most outspoken, bringing laughter from the audience (he enjoyed

the attendance, meeting many ex-salesmen who were glad

to see him, and was surprised by his popularity among them ),

Igagio Sanchez favorite noise was the whinny of horses (he owns

five), Tony Sherwin was the most organized, determined, centered,

businesslike, very serious, and Eric Sidebotham, a Top Gun big

money maker, did the less planning, he said, but worked long hours

and made “relationships.”

 

The Top Gun Sales Managers workshop was very interesting because there was

obviously a difference between the East Coast and the West Coast approach

to hiring and training salesmen.  A first for any conference to highlight

sales manger, who each, by the way, considered themselves a salesman first,

rather than a “manager.”  Richard Baccaro was undoubtedly the wittiest (although comments by Jim Raeder brought the most laugher ) humorous, and layback.  He had his ex-bosses in the room, now owned his owned company, where he trained salesmen, and his approach was quite different than Brad Kissler, sales manager of Balboa ( his boss,

and perhaps the mentor of all, Patrick Byrne was in the audience.) Kissler

worked more a 8 to 5 job, but traveled also to the various branches,
”If the manager was doing a good job, I had dinner with him, if not, no.”

 

Mark McQuitty of Capitalwerks expected to have 100 salesmen soon, and

was the most intense, organized, and team oriented. A brilliant person,

it was also his first appearance at any lease conference.  He could have

had another hour to speak.) He was up at 5am,took 18 of his team to a noon workout, ate on the way back, than at 6pm, did another physical workout with his team for an hour, then went back to work where he and Jim Raeder were there to 8pm or later. (He said to “professions other than your own would you like to attempt? Teach American history at the college level.) No one worked weekends.

 

There were organized sales programs, with mentors, except for the East

Coast, which evidently prefers to “steal” existing and “proven” salesmen,

then train people right out of college with no leasing experience,  ( the West

Coast Offense. ) All said that if  a salesman was coming in early, making

his calls, giving his all, even though his sales were down,  they would not

let them go.  By the numbers, the training the mentor program, anyone who

worked hard would make it, they all said.

 

The sessions should have been two hours to cover the material, especially

since many of the panelist were just getting warmed up.  It was quite a unique appearance, which received applause from the audience.

 

_____________________________________________________________

 

Commercial Money Center Last Day for Credit Filing

 

Today is the deadline for creditors to file proof of claim (case number 02-24068 ).

CMC’s attorney is Bradley S. Sharlberg (561-395-9599).  Judge Raymond B, Ray

has ordered CMC to file missing documents, including schedules and statements

of affairs. 

 

Accordingly, the officers must cooperate with the bankruptcy court.  There are issues regarding the fiduciary responsibility of all the officers pending.

 

http://www.leasingnews.org/Conscious-Top%20Stories/CMC_stories.htm

 

 

Growing losses cause anxiety for truckers idling at ports

 

-- by Rene Tankersley

  Landlinemag.com

  The Official Publication of the Owner-Operator

Independent Drivers Association

 

Owner-Operator Independent Drivers Association members Jim and Athena Shannon have been stuck at the Port of Oakland since Saturday night with a load of meat bound for the Orient. The Shannons, independent truckers from Nevada, say each day costs them at least $600.

 

The Shannons, who deliver meat to the port every week, were due to unload Monday morning, but the port was closed Sunday by the Pacific Maritime Association as a result of a standoff with the International Longshore and Warehouse Union. Jim Shannon says he hasn't been given a "backup plan" from their carrier, Conte Intermodal out of Winter Garden, FL.

 

"The carriers don't know much more than the drivers," says Michael Wright, with Conte Intermodal's safety department. His company has 12 owner-operators sitting at the port.” We don't really know. We asked the people we get our meat from," he said. "They told us sometimes it sits on the containers for 10 days and on the ship 10 days, so they're not worried about it yet. All we can do is sit around. It's the shipper's call. They can't let it sit forever." Wright reported shippers will not be sending a shipment out next week.

 

Meanwhile, the Port of Oakland has provided a parking lot for the truckers held up by the labor dispute. Jim Shannon says they are existing on a day-to-day basis. "They brought in new port-a-potties," he said. "A lunch wagon comes around three times a day, and lots of truckers have their own grills and we get together for grocery runs. They send around a fuel truck to keep the reefers running 24 hours a day. We're taking care of ourselves, but the revenue loss is the main issue."

 

In the parking lot where the Shannons' truck is parked, there are at least 50 trucks, including the 12 from Conte and many from Nebraska-based R.E. Monson. Shannon says Oakland news sources estimate about 2,600 trucks are currently jammed up at the 29 ports along the West Coast.

 

Additionally, published reports say more than 12,000 rigs operated by short-haul drivers in Southern California have been parked at cargo transfer stations throughout the region. Afraid of a run-in with picketing longshoremen, drivers are avoiding the docks.

 

The ILWU has been without a contract since July 1. Contract talks are stuck on the issue of computerized cargo-handling machinery. The PMA says they need this technology, but ILWU officials fear the new technology will cost union workers their jobs.

 

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Port dispute turns on technology

 

David Armstrong, San Francisco Chronicle Staff Writer

 

In Rotterdam, a marine terminal is run by robots. In

Singapore, a crane operator in an air-conditioned cab uses video screens and computer links to choreograph the movement of cargo containers. In myriad ports around the world,

 

optical character recognition scanners speed-read the identification numbers on cargo containers -- work that used to be laboriously hand-recorded by clerks with clipboards.

 

None of this high-end technology is employed in West Coast seaports, where a dispute between employers and members of the International Longshore and Warehouse Union shut down the ports last week. The conflict revolves around whether the union will have jurisdiction over newly created tech- driven jobs. Yet, industry observers say, change is inevitable, and the use of high-tech tools abroad suggests that they eventually will be adopted by the ports in Oakland, Seattle and Los Angeles.

 

Ironically, the technology proposed for West Coast ports is far from cutting-edge, at least in the initial stages. Shipping experts describe it as basic technology akin to bar-code scanning found in retail outlets and electronic data-crunching long used around the world by the U.S. military.

 

Basic as it is, such technology could, they say, improve seaport security in an anxious age by making improvements to cargo tracking and surveillance. It could also boost the productivity of U.S. ports that are trying to compete with more- efficient ports overseas.

 

"The most-sophisticated technology is used by ports in Southeast Asia, and in Holland and Germany," said Tom Ward, principal in charge of terminal planning and analysis for the JWD Group, an Oakland seaport architectural and consulting firm. "We are way behind what's being done there."

 

LAGGING THE LEADERS

 

In a study done by JWD in 2001, the firm found U.S. ports badly lagged world leaders, as measured by how many standard 20-foot container units were moved annually in relationship to the acreage of the ports. In 1999, the most recent year for which statistics were available, Oakland moved barely one- fifth as many TEUs as Hong Kong, according to the study. Oakland was running just behind Seattle- Tacoma and just ahead of last-place New York/New Jersey. (A TEU, or twenty-foot equivalent unit, is the standard unit of measurement for container cargo.)

 

"We're crunching numbers now for last year, and the relationships between the ports haven't changed materially," Ward said. With new technology, he estimated, Oakland could increase its efficiency "from 30 percent to 50 percent without seriously increasing its operating costs."

 

Oakland's technological deficiency has proven frustrating to major carriers and terminal operators. Many carriers, such as Singaporean-owned APL, Korean- owned Hanjin and Danish-owned Maersk Sealand, can use the latest technology in Asian and European ports but not in Oakland.

 

"The technology (proposed for implementation) in West Coast ports is basic information technology," said Ward, whose firm has done consulting work for the Pacific Maritime Association, the employers' trade group.

 

"The technology exists to capture information automatically," he said. Video cameras, for example, can read the license plate numbers of trucks on port land, feeding the information to computers that can identify trucks and what they are carrying.

 

Taking such steps, Ward said, could speed the movement of trucks through increasingly congested ports and cut the toxic fumes the trucks spew into the air. At present, drivers idle their engines while they wait, sometimes for hours, to be cleared and have their cargo loaded or off-loaded.

 

Additionally, Ward said, scanners can identify cargo containers and make it unnecessary for clerks to record information by hand out on the docks, where hulking, moving machinery makes work dirty and dangerous.

 

ELECTRONIC ID

 

"All 13 million containers in the world carry four letters and seven numbers in various combinations on the side," Ward said. Electronic scanners can read the codes and match up the container with computerized cargo manifests that show the contents, where the container was packed, where it is going, the name of the shipper and other information needed for security and efficiency.

 

Post-Sept. 11 security concerns are helping to drive the push to automate the nation's seaports, seen as potential weak spots in the fight against terrorism.

 

"There's no technological magic bullet," said Michael Nacht, dean of the Goldman School of Public Policy at UC Berkeley and an expert on national security issues.

 

"It's melding of existing technologies, nothing super- duper, just a greater use of things like global positioning satellites," said Nacht, who has studied the nation's seaports.

 

In a report he wrote for the Pacific Maritime Association last October, shortly after the Sept. 11 attacks, Nacht recommended a series of upgrades to port security. Among them: portwide biometric smart- card ID systems and the use of container seals that can be read electronically to detect tampering.

 

Bay Area companies are among firms designing and making such equipment, much of it originally developed for use by the Pentagon, which transports most of its equipment by sea.

 

For example, electronic seals made by Sunnyvale's Savi Technology are in use as part of the Smart and Secure Tradelanes Initiative, a program begun last summer by the U.S. Customs Service and Department of Transportation to track and secure shipments headed for major U.S. ports. Broken seals can be detected by radio and satellite systems linked to Web-based software, Savi spokesman Mark Nelson noted.

 

 

 

E-mail David Armstrong at

davidarmstrong@sfchronicle.com.

 

 

Equipment Leasing Association San Francisco Conference

    Over 1,000 Registered    Starts this Sunday

 

 

Full list with complete attendee information only available

to those attending the conference. 

 

Leasing News will have daily reports on this important conference.

 

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  KEY EQUIPMENT FINANCE

                 ESTABLISHES LEASE ADVISORY SERVICES UNIT

                    UNDER DIRECTION OF STEVEN T. DIXON

 

SUPERIOR, Colo., USA Key Equipment Finance, one of the

nation's largest bank-affiliated equipment financing companies and an

affiliate of KeyCorp (NYSE: KEY), has announced the formation of a Lease

Advisory Services group. This financing team will focus on providing

manufacturers' captive leasing and finance companies with efficient funding

through securitization and other liquidity alternatives as well as advisory

services regarding acquisitions, divestitures, syndication and capital

formation. Key's Lease Advisory Services team was part of Key Global

Finance, formerly Key's merchant banking unit. The newly established unit

will operate from Irvine, California, under the direction of Steven T.

Dixon, managing director. Rian W. Emmett and James R. Carney serve as vice

presidents, and Gia M. Matthews is an associate.

 

   "The establishment of the Lease Advisory Services team expands the

breadth of capabilities offered by Key Equipment Finance," said Paul A.

Larkins, president and chief executive officer. "The addition of quality

advisory services delivered through highly experienced individuals adds to

our value as a financial services provider and furthers our goals of

presenting the broadest array of profitable lease products and services to

our clients."

 

   Steven T. Dixon, managing director, began his career in corporate

finance and leasing in 1973. He joined Key Global Finance in 1997 as

managing director of lease securitization and was responsible for

delivering an array of funding products primarily to finance and leasing

companies. His experience includes equity syndication, structuring tax

deferrals, creating multi-tiered debt and securitization structures,

lending against residual positions, providing synthetic and tax-oriented

lease products and successfully managing several operating lease portfolios

with significant residual exposure. In 1993 Mr. Dixon was responsible for

starting a capital markets unit for Citicorp Securities, Inc., where he

managed a unit providing funding solutions to leasing and financing

companies nationwide. Mr. Dixon earned his bachelor degrees in art and

science at Central Missouri State University where he majored in business

administration. He is a NASD General Securities Principal.

 

   Rian W. Emmett, vice president, began his career in equipment financing

in 1979. He joined Key Global Finance as vice president in 1997; his

primary role was to provide funding solutions to originators of leases and

loans. Prior to joining Key, Mr. Emmett spent ten years at Citicorp where

he focused on national equipment finance and leasing. In 1993 he was named

vice president of Citicorp Securities, Inc. and delivered various funding

solutions to issuers of loans and leases. Mr. Emmett earned his bachelor of

science degree in economics and business from Edinboro University and holds

Series 7 and Series 63 securities licenses.

 

   James R. Carney, vice president, has over 20 years of experience in the

financing and leasing market. Formerly vice president, originations, for

Key Global Finance, Mr. Carney offered a combination of tax-advantaged and

structured lease products to large corporate clients in the western U.S.

Prior to joining Key in 1995, he worked with USL Capital originating true

lease and finance transactions. Mr. Carney has extensive experience in

structuring true leases and synthetic leases and working with clients in

preparing lease-versus-buy analyses. He received his bachelor of arts

degree in finance and marketing from the University of Washington and his

masters in business administration in finance from the Albers School of

Business at Seattle University.

 

   Gia M. Matthews, associate, joined Key Global Finance in 1997 and was

responsible for coordination and administration of portfolio purchases

under Key's multi-seller securitization program. She also coordinated

fundings and assisted in the risk management and settlement processes for

single issuer securitizations. Before joining Key Global Finance, Ms.

Matthews worked as a portfolio manager within the capital markets unit of

Citicorp Securities. She earned her bachelor of science degree in business

and information systems from the University of Phoenix.

 

Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides

business-to-business equipment financing solutions to businesses of many

types and sizes. They focus on four distinct markets:

 

·      businesses of all sizes in the U.S. (from small business to large

corporate);

 

·      equipment manufacturers, distributors and value-added resellers

worldwide;

 

·      federal, state and local governments as well as other public sector

organizations; and

 

·      lease advisory services for manufacturers' captive leasing and

finance companies.

 

Headquartered outside Boulder, Colorado, Key Equipment Finance oversees an

$8 billion equipment portfolio with annual originations of approximately $3

billion. The company, which operates in 25 countries and employs more than

600 people worldwide, has been in the equipment financing business for

nearly 30 years. Additional information regarding Key Equipment Finance,

its products and services can be obtained online at KEFonline.com.

 

Cleveland-based KeyCorp is one of the nation's largest bank-based financial

services companies, with assets of approximately $83 billion. Key companies

provide investment management, retail and commercial banking, retirement,

consumer finance, and investment banking products and services to

individuals and companies throughout the United States and, for certain

businesses, internationally. The company's businesses deliver their

products and services through KeyCenters and offices; a network of

approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a

Web site, Key.com, that provides account access and financial products 24

hours a day.

 

lisa.a.miller@key.com

                                 # # # # #

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Monday---Odds and Ends

 

 

Look for major news from the first leasing co-op, One World Leasing.

Twelve members participating, warehouse lines and regular lines

of credit. Major announcement expected soon.

 

-----

 

Johnnie Johnson from Kuwait

 

 

Thanks for forwarding the information request from A'ayan.   In fact, the formation of a leasing organization here in the Middle East has been gaining momentum for some time.  The International Leasing & Investment Co. (ILIC) has, as one of its corporate mandates, to encourage and spread the use of leasing in this part of the world.  We have been working over the last year on preliminary plans for the organization and operation of such a leasing organization.   We were pleased to hear that A'ayan was thinking along the same lines, and I have set up a meeting with A'ayan to coordinate our efforts.

 

While the published statistics do not reflect any great activity, there is actually substantial leasing business done here in the Middle East--and the volume is growing.  However, there are many issues regarding leasing in this part of the world  that could be facilitated through the activities of a recognized leasing organization. 

 

I will keep you posted on future developments. Again, thanks for passing on Mohammed's e-mail.

 

Johnnie

 

W. R. Johnnie Johnson, CLP

Exec. Vice President/Chief Operating Officer

The International Leasing & Investment Co.

P. O. Box 3716, Safat

13038, Kuwait

Phone:  965-244-0368

FAX:     965-246-3190

E-Mail:  johnson@ilic.net

      

 

-------------------

 

Hey Kit:

 

I agree with Barry on format.  For your readers who may be new to your work,

it helps to see the headlines where you would normally expect to see them.

Hope all is well.

 

 

     David

 

  David G. Mayer

  Patton Boggs LLP

  2001 Ross Avenue

  Suite 3000

  Dallas, Texas 75201

  Tel:  (214) 758-1545

  Fax: (214) 758-1550

  Author of: Business Leasing For Dummies

  Publisher of: Business Leasing News

 

----------- 

I agree with Barry Marks

John Keating

Sharpe Equipment Leasing

jkeating@sharpelease.com

623-934-1340 or 800-886-4920

Direct 480-730-7952

 

----

 

 

I note that the recent Leasing News article appearing under the headline

"Microsoft Enters Leasing Fray" by Christopher Menkin shares some (word

for word) similarities with another article entitled "Microsoft Forms

Microsoft Capital" authored by Marcelo Prince of Dow Jones Newswires.

 

The DJN article is dated October 3rd.

 

Comments?

 

David McNeil

National Leasing Group

: David_McNeil@nlgroup.ca

 

 

You will see this often, especially in Associated Press stories.

Sometimes if it is considered "unique," the source is quoted,

as I did to the information from the New York times. Often

information is generated by a press release. Or perhaps even

a “press conference.”  The quotes were shared as was other

material.

 

The reason I put my name was since I obtained information from

many different sources. It is not to take credit, but my responsibility for accuracy

and not the others---as they did not write the story. I am sure if the

story came in entirety from Dow Jones, it may have had more

“creditability. “

 

If it is important to attribute the source, it is often done and you will note other newspapers or publications are often noted with quotes or without quotes around the material ( depending in verbatim or not.)

 

You will also see stories that I write without my name.  In the newspaper industry,

they are stories without an opinion. It is from the staff of the newspaper.

 

The writer’s name appears if it is an exclusive, has a “viewpoint”, especially opinions, and when it is the combination of many sources---direct or indirect, such as other publications, and it not fair to say it is a “Boston Globe”

story if you have specifically changed what is included, not included, added

or subtracted, or basically did a “re-write.” .  If I do not make any changes in the

story, it is printed with the writers name, if noted, and the source, such as

the Washington Post or Wall Street Journal.  It is not only proper to do this,

then the reader knows the specific source and validity of the story.

 

The story I wrote came from many sources, including Dow Jones, Microsoft,

my knowledge, two readers who gave me some inside news and did not

want to be quoted, and was a combination of these.  To state it was a “Dow Jones” story would not be fair to them. We may have shared similar quotes, such as in a press conference or press release, but in reality came from many sources.

 

Readers should also be aware if the story is a press release, we do not

change any of the wording and put #### in front and at the end to

show readers it is a press release, written by the company who sent

it.

 

Coda:  When I was writing the story of the closing of Colonial Pacific Leasing,

I could get no information from the General Electric Press Department. They

never heard of CPL in Portland, Oregon ( I also got the impression they

didn’t know where Portland was---seriously ). It was really small potatoes to them. No one else was asking for a statement, only Leasing News. Curt Lynse nor anyone at CPL would give me information on or “off the record,” as they did not

want to jeopardize their severance pay. Curt did call GE, set me up with

a press person, who in reality knew nothing about CPL, would get back

to me, but never did. They didn’t care. It appeared we were the only one

interested in a “quote.”

 

In calling Microsoft, their PR department ironically is in Portland, Oregon, and I had to go through several people just to get any information. Both GE and the

Microsoft PR Department personnel were very nice, cooperative, trying

to be helpful, but they just don’t get calls about “equipment leasing.” I

must admit Microsoft called me back several times and was as helpful

as they could be. All the rest of the media waits for press releases, and prints them automatically. Unless it is a big scandal on the front page of the New York Times, for instance, the only ones who care about this news are quite a minority. Editor

 

 

 

 

--- 

 

 

Hi Kit:

I am proud to say that I have never watched any of the Top 10 Rated TV  

Shows.

 

Keep up the good work and let me know how that Nigerian Laptop lease goes.

 

 

Steve Fix

LeaseSource, Inc.

Equipment, software and website financing for business

770 395 0140 or 800 422 8328

spfix@leasesourceinc.com

 

 

(Not even “Monday Night Football,” “60 Minutes, “ “CSI” or “Law and Order?”

I hope you are then watching at least the Food Network or History Channel

or the Discovery Channel. The Nigerian Laptop story was real, I was told, and they were not asking for money, but a lease for 1,000 laptops. The Kuwait

story was real, too.  Editor  )

 

 

################ ##########################

 

Universal Express -USXP- To Acquire ATM Paycard LLC

 

 

NEW YORK----Universal Express, Inc. (OTC BB:USXP) today announced the signing of a letter of intent to acquire a majority interest in ATM Paycard LLC. ATM Paycards' product offerings may be viewed at their websites: www.americascard.com and www.atmpaycard.com.

 

"This acquisition advances our recent entry into the exciting stored-value Visa and ATM debit card arena. Complimenting the programs being developed by the Universal Express subsidiary Swiss American Financial Corp., ATM Paycard has established an impressive product line and distribution method for ATM debit cards and stored value Visa(R) cards. USXP CashExpress(R) card and additional products will be offered through numerous conduits as well as being offered through the Private Postal Network with its' nationwide exposure" said Mr. Richard Altomare, Chairman and CEO of Universal Express.

 

"There are tremendous opportunities in this sector of the credit card/debit card business. This acquisition broadens our capabilities and infrastructure to support the tremendous growth for this product while incorporating the leadership of the ATM Paycard management team who presently have an exceptional product available. This acquisition will provide a significant impact on the ability of Universal Express to take a leading role in this burgeoning market" stated David Russell, President of USXP Capital.

 

"ATM Paycard currently has numerous national distribution alliances providing a significant volume of card issuance which would be significantly enhanced by the brand recognition and distribution capabilities of the postal store members of the nationwide Private Postal Network" said Brett Hudson, CEO of ATM Paycards LLC. He continues, "The USXP CashExpress(R) card will be recognized as the preferred method of domestic and international funds transfer, payroll alternative, and debit card/credit card option of consumers nationwide, including those with unacceptable credit. In combination with our current product line (Americas First(R), ATM Paycard(R), etc.), Universal Express should realize significant marketshare in this credit niche."

 

The prototype of the USXP CashExpress(R) card may be viewed at www.usxp.com

 

Universal Express, Inc. owns and operates several subsidiaries including Universal Express Capital, Universal Express Logistics (including VirtualBellhop, WorldPost and Luggage Express) and the Private Postal Network. These subsidiaries provide the private postal industry and consumers with value-added services and products, logistical services, equipment leasing and cost-effective delivery of goods worldwide. More information and website locations are available at www.usxp.com.

 

 

CONTACT:

 

Equitilink

Mr. Ron Garner, 877/788-1940

**Lipton’s Ten Questions

 

One of my favorite TV shows is “Inside Actor’s Workshop” on the Bravo Channel. Hosted by James Lipton, he asks his guests at the end of the interview

these ten questions (which were asked to both the Top Gun Sales Men

and Sales Manager Panels):

 

1. What is your favorite word?

2. What is your least favorite word?

3. What turns you on or what is your favorite thing?

4. What turns you off?

5. What sound or noise do you love?

6. What sound or noise do you hate?

7. What is your favorite curse word?

8. What profession other than your own would you like to attempt?

9. What profession would you not like to do?

10. If Heaven exists, what would you like to hear God say, when you arrive?

 

__________________________________________________________________

________________________________________________________

 

 

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