Wednesday, September 22, 2004
Raeder Won't Reveal Name---Story Tomorrow
######## surrounding the article denotes it is a “press release”
If you are not on our mailing list, perhaps you should be. Late breaking leasing news or events such as the raising of the key interest rate by the Federal Reserve are sent to those on the mailing list. In addition, you are informed when Leasing News is posted ( and you will know when it is not posted. )
We do this because we have readers around the world, from London to Romania, Italy, India, Australia, not just the time zones of the United States and Canada. We are very aware of the time and thus the reason we post at 2am to 3am California time with the current news---not yesterday’s. We are building readers in Europe because we are the first with news for their time zone. Often we are weeks ahead of the
competition to what is happening in the equipment leasing industry, as we do not just rely on “press releases.”
Correction: In Yesterday’s “Salesman’s Pay Survey” several readers said they could not read the cartoon due to its size.
Classified Ads---Senior Credit Officer/Senior Management
Senior Credit Officer
experienced in middle- market leasing; structured, vendor and 3rd party to the fortune 1000. Proactive team builder, originations capable with strong work ethic.
Senior Management: Baltimore, MD
25 year veteran of commercial and equipment leasing seeking a senior management position with leasing or asset based financing company in the southeast (Florida preferred)
Senior Management: Denver, CO.
Fortune 500 GM/SVP wants to team up with aggressive lender looking for Western expansion mid-market equip. finance/leasing. 20+ years experience within Rocky Mountain/ Southwest and Ca markets.
Senior management: Hope, NJ.
25 years in optimizing call center operations, collections, billing, and back end revenue generation. Experienced in $7 + billion dollar portfolios. Verifiable achievements.
Senior Management: Irvine, CA.
Credit executive, portfolio manager and syndication facilitator. Extensive business building experience in small and mid-ticket operations. Highly innovative. Fortune 100 audit and technology skills. Bottom-line manager.
Senior Management: Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young leasing company where promises were not met. Interested in joining established firm with future.
Senior Management: New York, NY, NJ, Ct Tri-State
Top Exec. middle and big ticket, top skills treasury, funding, ops,transaction detail, syndication, ready to max profit, help build quality operation. right now!
Portfolio Management Consultant; 25+years experience in Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous Process Improvement, Back end Revenue Generation, Cost per Collection Analysis. $5+Billion Portfolio expertise.
Senior Management: San Francisco, CA.,
25 years experience w/global leasing company, sales,marketing,business dev., P&L responsibility, asset mgmt, brokering and re- marketing. Interested in joining an est. firm with a future.
96 Classified Ads at:
Charlie Lester sells LPI— then has a stroke two months later; no joke
(Charlie Lester, taken on Father's Day, with his oldest
daughter Sharon Hess on the left, and his youngest
daughter Melanie Milligan)
Leasing Icon Charlie Lester told us we can now release the news:
"#1. I am at the office most of the time, but I nap a lot.
"#2. Yes--I will be happy to write articles for Leasing News in the
format you request.
"#3. I feel good, not great, but good."
A former Leasing News board advisor and a contributing writer with
much inside news has agreed now that he is retired to write a weekly
column, in addition to taking naps at his office.
"Thank you for holding the news. As you know, in mid-July, I had a mild stroke that put me in the hospital for a few days. In plain English, I have had a "rapid heart" since my early 20's, but like most medical conditions, it has gotten worse with age and it finally caught up with me in July.
"The recovery was complete as far as we can tell and the doctors are
controlling the irregular heart beat with medication for the time being. If it does get any worse, they will install a pacemaker which only takes about 25 minutes with an entry through the neck. In my situation, it took more time than I would have imagined to get my mindset back to positive thinking and rebuilding the stamina level took almost two months
"Like every bad situation, some good has come of it. The weight is down to somewhere below the Pillsbury Doughboy for a change and my wife Barbara makes sure my eating habits are healthier. With the loving support of my family and God's grace, life is pretty much back to normal and I expect to be around for a long time."
Charlie Lester is President of LPI Financial Services located in
Marietta, GA and has been in the leasing industry since leaving IBM in
1984. In 1986, he founded Lease Pro, Inc. specializing in leasing for
the medical profession. In 1997, Lease Pro was acquired by First Sierra
Financial. In 1999, he resigned from First Sierra and started LPI after
sitting out his non-compete period. Since 2000, LPI in conjunction with
one of the most respected funding sources in the industry has offered a unique one of a kind working capital loan program to medical
professionals through brokers, consultants and direct client marketing.
We featured his company in Pictures from the Past:
He has also contributed to Sunday Sermon's:
And featured articles:
Charlie graduated with a Master's Degree in accounting from Virginia Tech in 1965 and became a CPA in 1966 shortly before going to work in sales for IBM. After 18 years in sales and sales management in six different cities, he resigned from IBM in 1984 to raise his family in Atlanta. In 1985, a friend introduced him to the world of equipment leasing, and on May 17,2004 he sold the assets of LPI Financial Services to LPI Healthcare Financial Services.
" We have not made this public knowledge since we wanted to make the transition to the new ownership before any announcement," he told Leasing News. " Here we are four months later and I doubt very seriously if our sources know about the change since it has gone so well without even so much as a hiccup. The sources are the same, the funding source is the same and the program is the same. What more could a transition want?
"For a little background, LPI Healthcare is owned by Kurt Hess, who is
President and heads up sales with Kay Smith as the VP who manages the administrative functions. Add Kristen Meers who oversees the credit functions and you have the 3-K's.
"To say the least, I am extremely proud of the 3-K's. Kurt is my son-in-law who has been with LPI for 4 years and has demonstrated an uncanny ability to communicate well with our broker and consultant data base. Kay has been with me for the past 10 years and there is no better documentation and funding manager to be found. Kristen is doing a great job of managing the credit piece since taking over earlier this year. To top off the K issue, our super funding source contact's name starts with a K.
"Since the sale in May, funded volume has been consistently higher than it was when I ran the company which shows you what imagination, youth and energy will do for you. I make a few contributions on the company direction as a consultant, but the 3-K's are the company and deserve the credit. They are good to the point I am beginning to dislike them.
"Barbara is a Stephen Minister and I am on the Board of Trustees of our church as well as being on the Cobb County Civil Service Board. A Stephen Minister is a non-denominational "lay" minister who is assigned to be the spiritual care giver on an "as needed basis" for someone going through a crisis in their life. The Board of Trustees helps manage and protect the assets of the church. The Civil Service Board hears cases and make judgments when Cobb County employees feel they have not been treated fairly by the department they work for.
"You asked me about retirement? Since I call myself a consultant now, the answer is "yes and no' and I can justify either answer. I'll take on any project that I know nothing about since I do not want to be confused with facts. The real answer, I am slowing up a bit, but if I ever totally stop, it will be time to send flowers and sympathy cards. I have too many friends in our industry to harass."
( And we look forward to his weekly column, where our only direction was: not to write about politics, religion, or sex, in that alphabetical order of significance. Anything else he has free rein to comment about. Editor.)
Charlie’s e-mail address: firstname.lastname@example.org
Robert J. Fine. Several attorneys have requested information to serve him for his action at NorVengence but have not been able to locate him. Anyone who knows the city-state where he lives or birth date, they may be able to locate the right Fine as they have found 117 Robert J. Fines, but evidently not the right one.
“Kit I have been trying to contact Brian Boys of Firstcredit in Florida and nothing works, phone ,fax or email. I know the hurricane hit him almost head on. Could you put up a posting if anybody has heard from him and if he is okay.”
Just released—“Power Tools For Small Ticket Leasing 2004”
by Galtelli, Johnson and Marks
The world's ONLY book devoted exclusively to the needs of small ticket lessors and brokers
. A unique book written for small ticket brokers and lessors. Two chapters on distinguishing leases and loans for accounting, tax and legal purposes, and how and why small ticket leasing is unique.
Five chapters devoted to lease documentation issues--key lease contract provisions, additional lease documents, financial elements in a lease, the lease package and documentation process
. Five chapters focusing on selling leasing--benefits of leasing to lessees, selling leasing in vendor transactions, the customer's view, the vendor's view and key determinants and checklists for leasing or buying.
Four chapters devoted to relationships with vendors and funders-- vendor development, vendor relationships and agreements, funding overview and funder relationships and agreements.
Over 350 review questions to test comprehension. 299 pages. $79.95 plus shipping and handling. Available from www.leasingpress.com
Call 815.753.1116 to order or email your order
(with or without order form from the www.leasingpress.com website) to
Visit www.leasingpress.com for additional details.
*** announcement **************************************
DVI Certified Corporate Meltdown
Even as top executives of DVI were vouching for its earnings report - a post-Enron mandate - the firm was spiraling into the 13th-biggest bankruptcy of 2003.
( send by a reader from the Philadelphia Inquirer)
Classified Ads---Help Wanted
CFO / Leasing Sales Leader
Controller / Vendor Sales Specialist/ Entry Level Accountant
Dealer Credit Finance Analyst / Dealer Credit Finance Services Supervisor
Fed Keeps Nudging Up Key Rate
Housing construction climbs in August to highest level since March
Oil nears key benchmark: $50 per barrel
Visit by Maria Shriver kicks off expansion of mentoring program
Happiness for Yanks Is a Giambi Home Run
Bellhorn delivers a crucial K-O's punch: Big hit in ninth rallies Sox to 3-2 win
A Season to Forget Continues for Woods
Belichick fillets Tuna: Powerful coach can rip Parcells
Raiders by Three on Sunday
Shula backs Belichick: Downplaying streak is perfect approach
“Gimme that Wine”
Winery, analysts at odds--
Mondavi estimates its sale properties at up to $500 million
Two Prominent Stemware Producers Merge; Riedel Crystal Buys
Colorado wines gain in market share
Dick Reno at Chateau Lafayette Reneau doesn’t care if consumers won’t swallow the $49.99 bottle price he slapped on his 2001 Reserve Cabernet Sauvignon.
Searching for fairness or "the right price" is a sucker's deal; look instead for good bargains
''Cantina Bostonia" red wines, priced at less than $10 a bottle
Wine Train Woodinville Washington
October 15 A Grand Tasting of 1982 Bordeaux Imperiales in S.F.
Virginia Chardonnay grape tastes like before its turned into wine? Find out at Farfelu Vineyards' Great Grape Festival October 9-11.
Virginia One Weekend, 10 Wineries, 10 Special Events October 9-11
This Day in American History
In the Northern Hemisphere, autumn begins today with the autumnal equinox, at 1:27 PM, EDT. Note that in the Southern Hemisphere today is the beginning of spring. Everywhere on Earth (except near the poles) the sun rises due east and sets due west and daylight length is nearly identical--about 12 hours, 8 minutes.
1734-The Moravian settlement in America began with the arrival of George Boehnischt in Pennsylvania. The following year, a group of Moravians led by Augustus Gottlieb Spangenberg came to Georgia for the purpose of converting Native Americans. Their first church was built in 1735 in Savannah, GA, where General James Edward Oglethorpe had given 600 acres of land for a colony. Bishop David Nitschmann arrived from Germany in 1736 and ordained Anton Sieffert, as pastor, the first ordination by a Protestant bishop in America. The group soon relocated to Pennsylvania and built a settlement in Bethlehem, PA, in 1741. Spangenberg became the Oravians’ first American bishop in 1744. Moravians are followers of Jan Hus, the 15th-century Bohemian religious reformer, and call themselves, the Church of the Bretheren, Or Unitas Fratrum.
1777-Tacy’s Richardson’s Ride: Courageous 23-year-old Tacy Richardson (Jan 1, 1754-June 18, 1807) rode her favorite horse, "Fearnaught," several perilous miles from the family farm at Montgomery County, PA to the James Vaux mansion to warn General George Washington of the approach of British troops led by General William Howe. As it turned out, the British crossing of the Schuylkill at Gordon's Ford was a feint to deceive Washington who indeed hastily withdrew to Pottstown, clearing the way for General Howe to spend that night in the quarters Washington had occupied only a few hours earlier.
1776 – Captain Nathan Hale of Connecticut was executed by the
British in New York City for spying. Before he was hanged he said, “ I only regret that I have but one life to lose for my country.”
1789-The U.S. Created the Office of Postmaster General, following the Departments of State, War and Treasury.
1862-Emancipation Proclamation---One of the most important presidential proclamations of American history is that of Sept 22, 1862, in which Abraham Lincoln, by executive proclamation, freed the slaves in the rebelling states. "That on . . . [Jan 1, 1863] . . . all persons held as slaves within any state or designated part of a state, the people whereof shall then be in rebellion against the United States, shall be then, thenceforward, and forever, free. . . ." The "13th Amendment officially declared the abolition of slavery in all states.
( lower half of: http://memory.loc.gov/ammem/today/sep22.html )
1903- Italy Marchiony applied for his patent for his new mold which was filled with Ice Cream and is credited with inventing the Ice Cream Cone. He immigrated from Italy in the late 1800’s and went into business in New York City with a pushcart dispensing lemon ice. Success soon led to a small fleet of pushcarts, and the inventive Marchiony was inspired to develop a cone, first made of paper, later of pastry, to hold the ices and then vanilla and chocolate ice cream.
1922- with the passage of the Cable Act, women who married foreign citizens kept their US citizenship. Up to that point, American-born women automatically lost their US citizenship if they married a foreign man. At no time in the history of the United State could men have lost their citizenship.
1927-Still talked about today as the “long count”, the world championship boxing match between Jack Dempsey and Gene Tunney at Soldier Field, Chicago, IL. It was the largest fight purse in the history of boxing at the time, nearly $1 million dollars. Nearly half the population of the US is believed to have listened to the radio broadcast of this fight. In the seventh round of the 10-round fifth, Tunney was knocked down. Following the rules, Referee Dave Barry interrupted the count when Dempsey failed to go to the farthest corner. The count was resumed and Tunney got to his feet at the count of nine. Stopwatch records of those present claimed the total elapsed time from the beginning of the count until Tunney got to his feet at 12-15 seconds. Tunney, awarded seven of the 10 rounds, won the fifth and claimed the world championship. Dempsey’s appeal was denied and he never
fought again. Tunney retired the following year after one more (successful) fight.
1937 - On the Brunswick label, Red Norvo and his orchestra recorded the "Russian Lullaby". Later Norvo would do a more famous work with a recording including singer Dinah Shore.
1955 - The film, “To Hell and Back,” starring World War II hero Audie Murphy, premiered in New York on this date.
Canadian Sunset - Hugo Winterhalter & Eddie Heywood
Whatever Will Be Will Be (Que Sera Sera) - Doris Day
Be-Bop-a-Lula - Gene Vincent & His Blue Caps
Don’t Be Cruel/Hound Dog - Elvis Presley
1957- Duke Snider hits his 40th home run tying him with Ralph Kiner for having five consecutive 40+ homer seasons in the National League.
1957-“Maverick” premiered on television. ( yes, my father Lawrence Menkin wrote several of these episodes as well as other Western television shows ).
This popular western, which has since been remade into a popular movie, starred James Garner as Bret Maverick, a clever man who preferred card playing to fighting. A second Maverick was introduced when production was behind schedule--Jack Kelly played his brother Bart. Garner and Kelly played most episodes separately, and when Garner left in 1961, Kelly was in almost all the episodes. Other performers included Roger Moore, Robert Colbert and Diane Brewster. This western distinguished itself by its light touch and parody of other westerns.
1961-The first judge of a federal district court who was African-American was Judge James Benton Parsons, who was sworn in at Chicago, Il, as U. S. district judge for the Northern District of Illinois.
1964 - Robert Vaughn starred as Napoleon Solo when "The Man From U.N.C.L.E." debuted on NBC-TV this night. Solo’s trusty side-kick in this James Bond spoof was Illya Kuryakin, played by David McCallum. The show was a hit for 3½ seasons.
The House of the Rising Sun - The Animals
Bread and Butter - The Newbeats
Oh, Pretty Woman - Roy Orbison
I Guess I’m Crazy - Jim Reeves
1964 - The lights lowered, the curtain rose and Zero Mostel stepped into the spotlight as the fiddler played. “Tra-a--a-dition,” he sang, as he began the first of 3,242 performances and "Fiddler on the Roof" opened on Broadway at the Imperial Theater.. It became the first musical to run for more than 3,000 performances, based on stories by the Yiddish writer Sholem Aleichem ( pen name of Sholem Yakov Rabinowitz). Zero Mostel took the part of Tevye. It was presented by Harold Prince, with choreography of Jerome Robbins, music by Jerry Bock, lyrics by Sheldon Hamick and book by Joseph Stein.
1965- San Francisco rock group, the Great Society with singer Grace Slick, makes its stage debut at the Coffee Gallery in North Beach, California.
1967- The Beatles appear on the cover of Time Magazine.
1968- The Twins' Cesar Tovar is the second major leaguer to play one inning at each position. In 1965, A's Bert Campaneris became the first.
Black & White - Three Dog Night
Baby Don’t Get Hooked on Me - Mac Davis
Saturday in the Park - Chicago
When the Snow is on the Roses - Sonny James
1973 - Henry Kissinger took the oath as U.S. Secretary of State. This was the first time a naturalized citizen had held this office. Only in America...
1976—“Charlie’s Angels” Premiere. This extremely popular show of the '70s featured three attractive women, usually scantily-dressed, solving crimes. Sabrina Duncan (Kate Jackson), Jill Munroe (Farrah Fawcett-Majors) and Kelly Garrett (Jaclyn Smith) signed on with detective agency Charles Townsend Associates. Their boss was never seen, only heard (the voice of John Forsythe); messages were communicated to the women by his associate John Bosley (David Doyle). During the course of the series, Cheryl Ladd replaced Fawcett, Shelley Hack and Tanya Roberts succeeded Kate Jackson.
Upside Down - Diana Ross
All Out of Love - Air Supply
Another One Bites the Dust - Queen
Lookin’ for Love - Johnny Lee
1982—“Family Ties” premiers on TV. This popular 80s sitcom was set at Columbus, OH and focused on the Keaton family: Ex-hippies Elyse (Meredith Baxter-Birney), an architect, and Steven (Michael Gross), a station manager of the local public TV station; Alex (Michael J. Fox), their smart, conservative and financially-driven son; Mallory (Justine Bateman), their materialistic, ditzy daughter and Jennifer (Tina Yothers), their tomboy youngest daughter. Later in the series Elyse gave birth to Andrew. Marc Price played Irwin "Skippy" Handleman, the nerdy next-door neighbor who adored the Keatons, and Mallory in particular.
1985 - The poor of America’s Heartland ... the financially troubled farmers of Middle America ... got help from their friends in the music biz. Singing stars Willie Nelson, Neil Young and John Cougar Mellencamp held a benefit concert to raise funds. The stars came out and so did the money. The "Farm Aid" concert raised ten million dollars.
1983 - Forty-one cities reported record cold temperatures during the morning. Houston, TX, hit 50 degrees, and Williston ND plunged to 19 degrees.
Sweet Child o’ Mine - Guns N’ Roses
Simply Irresistible - Robert Palmer
Don’t Worry Be Happy - Bobby McFerrin
Joe Knows How to Live - Eddy Raven
1989 - Called by some critics "Body Watch", the California-beach-based lifeguard show “Baywatch” debuted on NBC. It first appeared on April 23 as a two
hour movie. Although the series had a healthy viewership, the network canceled the show after one season. Baywatch star, David Hasselhoff, took an unusual step, and investing a great deal of his own money, revived the show and offered it for syndication. He had researched the audience, and believed there was a loyal enough following to make his investment pay off. Hasselhoff proved to be right, and within a few years, Baywatch became the most-watched television show in the world, with huge audiences in England and China. It was estimated to have a collective viewership of 1 billion.
1989 - Hurricane Hugo quickly lost strength over South Carolina, but still was a tropical storm as it crossed into North Carolina, just west of Charlotte, at about 7 AM. Winds around Charlotte reached 69 mph, with gusts to 99 mph. Eighty percent of the power was knocked out to Charlotte and Mecklenburg County. Property damage in North Carolina was 210 million dollars, and damage to crops was 97 million dollars. The strongest storm surge occurred along the southern coast shortly after midnight, reaching nine feet above sea level at ocean Isle and Sunset Beach. Hugo killed one person and injured fifteen others in North Carolina. Strong northwesterly winds ushered unseasonably cold air into the north central U.S., in time for the official start of autumn, at 8:20 PM (CDT). Squalls produced light snow in northern Wisconsin. Winds in Wisconsin gusted to 52 mph at Rhinelander.
1992- Bruce Springsteen breaks the rules and plays an electric set for MTV's "Unplugged" show. The episode is renamed, "MTV Plugged."
1993- The Rockies complete their inaugural season with a major league home attendance record of 4,483,350 fans.
1994-“Friends” premiered. This NBC comedy brought together six single friends and the issues in their personal lives, ranging from their jobs to their love lives. Cast included Courteney Cox Arquette, Lisa Kudrok Jnneifer Aniston, Mathew Perry, David Schwimmer and Matt Le Blanc.
1997 - The Atlanta Braves won an unprecedented sixth straight division title. The record eclipsed the old mark of five straight set by the New York Yankees (1949-1953) and the Oakland A’s (1971-1975). The Braves failed to reach the World Series, however, for the first time since 1993.
1998 -The Blue Jays' Jose Canseco hits his 45th and 46th home runs setting a new career high.
1998- With AL-leading HR #s 54 and 55, Mariner Ken Griffey Jr. joins Babe Ruth and Lou Gehrig as the only players to drive in 140 or more runs in three consecutive seasons.
2002 -In last game ever played at Cinergy Field, the Phillies complete a three-game sweep defeating the Reds ,4-3, in front of many of the team's former superstars except for the banished Pete Rose. The all-time hit leader, however, is not forgotten as Tom Browning, paints Rose's uniform number 14 on the pitcher's mound after the game with red spray paint and, as home plate is dug up and to be delivered next door to Great American Ball Park, the crowd begins to chant, "Pete, Pete".
by: Robert Frost
Out through the fields and the woods
And over the walls I have wended;
I have climbed the hills of view
And looked at the world, and descended;
I have come by the highway home,
And lo, it is ended.
The leaves are all dead on the ground,
Save those that the oak is keeping
To ravel them one by one
And let them go scraping and creeping
Out over the crusted snow,
When others are sleeping.
And the dead leaves lie huddled and still,
No longer blown hither and thither;
The last lone aster is gone;
The flowers of the witch-hazel wither;
The heart is still aching to seek,
But the feet question 'Whither?'
Ah, when to the heart of man
Was it ever less than a treason
To go with the drift of things,
To yield with a grace to reason,
And bow and accept the end
Of a love or a season?