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Vendor Account Executive:
Troy, MI, Proven sales exp in developing vendor relationships. Must be knowledgeable in all aspects of leasing. Strong communication skills. Send email to

About the Company: Lease Corporation of America is a well established, 16 year old, national equipment leasing company.


Tuesday, September 28,2004




    Classified Ads--- Asset Management

        Economic Events This Week

            The Gazelle Is Back!!!

                Should Raeder Reveal the Name or Not?

    Classified Ads---Help ‘Wanted

        Letters---We get eMail

            Goller Joins Huntington Equipment Finance

                AIG Launches IntelliRisk NetSource-R- 6.0

    GE Rail Services Track Record of Success

        Hendershot Appointed  to Lakeland Board

            Fitch Issues Presale CIT Equipment Collateral

                Fitch Upgrades U.S. Bancorp's Ratings; Outlook Stable

    News Briefs---

        Sports Briefs---

            "Gimme that Wine"

                This Day in American History

                    Baseball Poems



########  surrounding the article denotes it is a “press release”




Classified Ads--- Asset Management


Austin, TX.

20+ years exper. lease/finance. P & L responsibility, strong credit & collection management, re- marketing& accounting. Computers, construction, auto & transportation. Both commercial/ consumer portfolios.



Bloomfield Township, MI.

15+ yrs experience asset management and credit analyst.

Leadership and training skills. Audited returns, max residual,

lease end and resale negotiator.



Chicago, IL.

MBA, 15+ years exp. Long history of success in maximizing residual position through outstanding negotiation skills & lease contract management. Third party re-marketing, forecasting etc...



Oxnard-Hollywood Beach, CA.

19 Years w/Equity Analysis/Placement and Residual Forecasting of Computer Assets. Portfolio Manager for Two Major Lessors and Strong Analyst Background w/Leading Information Services Firm.



Princeton, NJ.

Asset management/credit/collection

20+ years experience in equipment financing. Last five years in Asset Management including remarketing, end of lease negotiations, equipment and market evaluations



   full listing of all “job wanted” ads at:


  Post your “free” job wanted ad by going to:





Economic Events This Week




27 September

Consumer Confidence: September




29 September

Personal Income: August

Weekly Jobless Claims



30 September

Construction Spending: August





The Gazelle Is Back!!!


Thomas J. Depping Drinking Coca Cola in his Sierra Cities office


Registered for the October 27th Equipment Leasing Association Conference in Palm Desert, California:





Quinn was Depping’s right hand man as they built up Sierra Cities which was eventually sold to American Express.


Thomas J. Depping Looking at Houston from his Sierra Cities office


In the Leasing News article:


“On the block with a hoped sale date before October 1, 2000, this company joined Leasing News "list" due to its Second Quarter loss and the many rumors from reliable sources that the company is about to be sold. Chairman Tom Depping has told his employees there will be an announcement before September 30th.


“Reportedly the man who originated the First Sierra concept was Bob Quinn, not Tom Depping. Bob Quinn approached Tom Depping in 1993 after Denrich was purchased by ATT Capital in December, 1992. Bob did not feel ATT was dedicated to their Private Label Program so he approached Tom Depping as an old friend and business acquaintance about forming a new company to do nothing but Private Label.

(allowing another to use their name on your contract along with

other “privileges.”)


“From that meeting in 1993 to April 1994, Tom Depping sold some movers and shakers in Houston  to raise the capital to start First Sierra. When Bob Quinn left ATT in May, 1994, he and Tom along with Fred Van Etten, Pete Smith and Sandy Ho actually began the operations at First Sierra.


" ‘ (NASDAQ:BTOB) has harnessed the power of the Internet to create a totally new way for small business owners to get the funding they need. The leader in online banking and financing, we've automated the funding process to offer quick and convenient access to loans, leases, and a full range of comprehensive banking services. Since 1994, has funded over $2.5 billion in small business loans.’"


The above quote was from their web site. For the full story about Thomas J. Depping and Sierra Cities, please go to:


For the full story of the $20 million law suit against RW Professional

Leasing and their role with Sierra Cities, the private label debacle,

“Take the Money and Run,” please go here:


 (parts II, III, and the up-date are included )



Thomas J. Depping at his Sierra Cities office in Houston


Gazelle---that is the word he used to describe himself in

his letter of resignation to employees ( that he was going

out like a Gazelle. He told the parable, which is on several

motivational posters, about the lion and the gazelle both

co-existing in the  same jungle, and how each start each

morning running, either to eat or avoid being eaten.




Should Raeder Reveal the Name or Not?



Leasing News asked readers to give us their opinion as to whether Jim Raeder should reveal the name of the culprit, and his company, who sent several derogatory e-mails to CapitalWerks funders , leasing associations, leasing “on line newspapers,” various print newspapers, and leasing leaders.


Due to technical difficulties, we are making the questionnaire available

again.  You may only vote once, and this form does not allow a second

vote.  Several people did not understand this.  Others said they had

trouble with the form.


Leasing News received over 400 responses to date, many with comments.


For those that did not receive the story or are unfamiliar:



Leasing News also printed Mr. Raeder’s biography:


Both Jim Raeder and Mark McQuitty sold their company

to Sierra Cities, and their story about what happened

to them is in this article written by Mr. McQuitty:



This image will open up the Questionnaire form.  If

you have voted, it will not open.  It will recognize

your e-mail address.





Classified Ads---Help ‘Wanted



We get deals done!  We can help you make more money. We are on top of the changing marketplace with more sources due to our volume. Must have 4 years of leasing experience w/ strong client base.  70% Commission, 70% Residual. Barbara Griffith or 714-573-9804

About the company: SCL has been in business for 12 years. We are contracted with multiple funding sources which enables us to provide more competitive rates and flexible terms and conditions.


Funding/Loan Processor

Funding/Loan Processor: Irvine, CA. Experienced Lease/Loan Processor to join growing operations staff.  Must be organized and very detail oriented.  Leasing experience helpful but not main determinant.

Vendor Sales Specialist: Experienced in developing relationships & vendor programs. Will need to establish/head our new vendor division. Must be knowledgeable in all aspects of leasing from the broker lessor perspective.

Please E-mail resume to:

About the Company: Nationwide Funding, with its prime location in Southern California and offices in Chicago, has been able to secure specialized credit facilities and create funding partnerships with a wide variety of financial institutions. This diversity allows us to be a complete funding partner for your business.


CFO / Leasing Sales Leader

Leasing Sales Leader: Atlanta GA.
Outstanding opportunity for highly motivated, exp. leasing rep. for fast growing tech solutions provider. Unlimited earnings potential, fast paced enviroment. Exper. end-user sales/ tech leasing required.
Full description here

CFO: Atlanta, GA.
CPA/10yrs exp. required. Direct/oversee all financial activities and manage leasing operations. Full description here.

About the Company: Located in Atlanta GA. Optimus Solutions is a leading provider of enterprise Information Technology solutions including systems, storage, and software enhanced by a complete range of integration and consulting services.


Dealer Credit Finance Analyst / Dealer Credit Finance Services Supervisor

Dealer Credit Fin. Analyst, Torrance, CA Click here for full descrip. & to apply.   

Dealer Credit Fin. Services Supervisor, Torrance, CA. Click here for full descrip. & to apply.

To learn more about us, please visit:


Vendor Account Executive

Vendor Account Executive:
Troy, MI, Proven sales exp in developing vendor relationships. Must be knowledgeable in all aspects of leasing. Strong communication skills. Send email to

About the Company: Lease Corporation of America is a well established, 16 year old, national equipment leasing company.





Letters---We get eMail



(Comments that do not include a legitimate e-mail address or want their comments to remain annoymous in the Raeder questionnaire will not be printed; however, here are some from employees, who do not want to be named:


“The culprit, I'm sure you know who it is and I know who it is deserves to be exposed. That piece of trash has ruined my book of business and has allowed other brokers to use slime ball tactics against me to win deals. I average $30-40K a month and because of this idiot I have dropped to 60% of those numbers. I know hate is a strong word, but I have never hated someone so much in my entire life. I have friends that hate ******** for ripping them off, but for what this coward did I will have no remorse for him when his company is out of business. I work 12-14 hours a day Kit and feels almost useless working at times because of what's gone on. Please do not post my name because Jim and Mark would probably get mad.”






“I hope Jim agrees to making the name public. I like the cartoon that you made last week.  Do you think people can now figure out who it is? If Jim agrees to announce the culprit, what do you think it will do for this company.  The guy is a paranoid freak anyways. I know a person that works there and the guy is just going nuts right now.”





“I wish we as employees could start a class action lawsuit against the guy and his company.”




“I very much enjoy reading your articles.  I've been reading them since I worked at *****.  I can personally tell you that working for Mark and Jim has been a pleasure. They are the 2 best bosses I have ever had, especially Mark. They like people who work hard and they reward them for their hard work. I am probably the #2 guy in the company, but the #1 hardest working guy in the industry. As you can see I am in here early pounding the cold calls out hoping that I don't run into those ******** brokers that are using the past emails as a tool to win deals.”




 Nigerian E-mail:


“We just got our 3rd Nigerian Letter today!

  We are having similar problems with the SPAM filters, Anti-Virus and Firewall Software. I was advised by America On Line that it would be a "good idea" to have someone spend "several hours a day" updating the anti-spam, anti-viral, firewall and anti-spyware software!"


 “ If it continues, we may have to "do without" and return to the pre-PC and pre-Internet way of doing business!”


Joseph leslie


FCI Financial Services, Inc.


(We just migrated to our third server, this time a Unix service,

where they will keep us more up-to-date.  More expensive in

cash, but not in our time in trying to combat all the e-mail,

spoofing, and hacking problems.editor)



“It was interesting to read your leasing news this morning in which you wrote about all those e-mail scams that we receive. Here is one that I received from an employee of Great Basin Bank of Nevada, Elko, NV. When I received it I called the security department at Great Basin Bank and told them about it. They asked me to forward the e-mail to them, which I did, claiming that they did not have an employee by the name mentioned in the message and that they were going to turn it over to the FBI. I don't know if they did turn it over as I have not heard from them since. Since all of the previous scam messages that I have received were supposedly initiated in a foreign country, I was surprised to see one with a US origination and to actually name an existing US bank.”


Fred Anderson



-----Original Message-----






Fax: 1-800-379-0240 (Direct) Email: Dear Friend, This letter may come to you as a surprise because we have not met but was borne out of my sincere desire to establish a business/mutual relationship with you. I got your contact through the International Trade and Commerce Chamber (ITCC) in Nevada. I am Mr. Athur F. Price, the Director of Treasury, Great Basin Bank of Nevada,Elko - Nevada.


 We are a highly reputable bank with years of outstanding service. To be explicit and straight to the point. Sometime in 1997, a customer of ours deposited the sum of $12,500,000 (Twelve Million, Five Hundred Thousand US Dollars) in our bank as safe deposit and since then our customer has failed to come forward to claim his money, which has accumulated a considerable amount of interest. Consequently, in our bid to contact this customer to discuss the position of the deposit, we discovered that the customer was one of the victims of the Pan Carribean Airline disaster of 2000 in Hawaii.


Since the death of our client who happened to be an expatriate from France (he worked for Consolidated Oil Inc, Nevada) none of his benefactors has come forward to claim the money. This means that none of his relatives or aids had any knowledge of this money. I also found out from enquiries that our late client siphoned a lot of money from Consolidated Oil, which led to the liquidation and eventual sale of the company. It is my conviction that the money in our bank is part of the money that our customer siphoned, and now that he is dead there is no trace to it. By the virtue of my office, I stumbled on this goldmine and decided to keep it for my retirement. I am now soliciting your unreserved assistance to assist me in transferring this money into your account anywhere in the world for immediate investment. In the course of this transaction, you will be required to act as the benefactor or a relative of the dead depositor. I will furnish you with all necessary information that will be required from you by our bank.


 As a serving senior bank officer, I am not permitted to run a private business enterprise or maintain a foreign bank account. You will be entitled to a considerable percentage of the money after transfer and 20% of the investment profit. If you are honest, trustworthy, capable of investing this huge amount of money and interested in the above proposal, contact me immediately through the numbers indicated above for more details.


For my safety, you must maintain absolute confidentiality to ensure success. Please, indicate your personal Tel./Fax nos. when replying. Yours Faithfully, Mr. Athur F. Price PLS. NOTE THAT THIS MESSAGE IS NOT A SCAM. YOU MAY DISREGARD IT IF YOU WISH BUT HELPS TO ACKNOWLEDGE THE RECEIPT. THANKS FOR YOUR UNDERSTANDING


(The gimmick is when you open a bank account, you will need to

put sufficient money in it to make the transfer not so obvious...editor)






“Kit, you did a great job collecting the examples listed on your website on Nigerian type e-mail,

but  to become a true master of the craft you need to attend their convention:”

Larry Sherman






“Just wanted to update you on the happenings of A.E.L.A.

We just started our 2nd year with a successful mixer held at the Radisson Hotel in Phoenix.  It was attended by approx. 20 members and non member, newbie's and long experienced, funders and brokers.  Most in attendance were from AZ, but we did have attendees from NY, TX and Calif. It allowed us to find out what is happening in our industry, on the local and national level.


“Thank you for your support!”


Bernice Truszkowski

"your equipment finance specialist"

P.O. Box 985

Scottsdale, AZ 85252-0985

480 949 0710

480 949 7012 FAX





“The Hurricanes have come and gone and I'm thankful and relieved to inform you that my family and my home are safe and sound.  My office however, was not quite so lucky with Hurricane

Frances.  AMSTAT'S roof did not survive and because of it we sustained extensive water damage.  Fortunately we removed our computers and most of our files (the rest were in water proof cabinets) before we evacuated, making the job of opening a temporary office so much easier.


“I am hoping to back at the office sooner than later but in the mean time here is my contact information:


“Phone:  321-452-4459

Cell:      321-480-9159

Fax:      321-452-7715



“Thank you for your patience and understanding and I hope this will not cause you too much of an inconvenience.


“Take care,”


Louise Jennings

AMSTAT Capital




“We leased an Elephant in 1984, it cost $84,000,  20 yrs of inflation
has really raised their prices. We also thought that 3 points then was a
great commission!”

Leo Timmerman
Timmerman Leasing Inc




“In regards to Norvergence, Steve Nardi of Ramsgate makes the point that our lessees are businesses engaged in commerce and not subject to consumer protection laws. While this may be true in fact there is a difference between what is law and what is justice.  In the small ticket arena most of our lessess are basically consumers who happen to own small businesses.  The leases they sign are boilerplate documents written in favor of the lessors and not subject to negotiation.  I'm not saying that's bad, Lessors need protection from default, fraud, etc., and yet in a situation like Norvergence where clearly the lessee's have been defrauded (and it appears that all or most of the lessor's have also been defrauded), if we say to all of the 11,000 lessee's that it is your fault for signing that lease document then they and all of their supporters will rise up and impose legislation on the leasing industry to make sure these small businesses have increased protection in the future.  Is that what we really want?


“While there will only be pain in the Norvergence resolution, perhaps the major lease associations might consider involving themselves in trying to find a negotiated settlement that is fair to both lessees and lessors.  The alternative is we let the lawyers and the courts dictate events that could change the landscape for all of us.”


Joe Schmitz, CLP

F.I.T. Leasing






“I found out the correct name for the magic funding source. It is Delphi! Delphi is located in the Chicago suburbs and the credit application consists of the applicant's name, address and social security number! There is a 15 minute turn around!”



 ( name with held )


( Rockford in the old days would take such an application on the medical profession and approve deals.  In reality, if the consumer credit is very good, many industrial companies have finance arms that will approve in such a manner. There is a trend for brokers to set

themselves up as “dealers” in order to obtain access to these

funding sources.


There is a Delphi automotive company:  Delphi Automotive Systems-  spun off by General Motors last February, Delphi Financial, a Delphi Islamic bank group, a large Swedish company seeming to specialize in aircraft leasing, plus other European finance, and Delphi Capital Corp., Chicago, Ill.: (773) 248-8875.  editor.)






“I have a question - When the truth comes out about what really went on at Norvergence and Robert Fine is found not to have known what the owners of the company were doing - Will you post an apology in your newsletter??????????


“I really don't know where some of your information comes from but you should do some research because Mr. Fine was not a Corporate officer or a Boss in any way. He actually did have a Boss and I find it very funny that his name is never mentioned .”


   (name with held )


(Leasing News made no accusations.  We quoted attorneys, other newspapers, and listserve ex-employees on several

list serves.  When we quoted them, we attributed the quote

to the party who made them.


(April 26,2004 Robert C. Arnold was named CFO for Norvergence Capital, a wholly owned financial services subsidiary of Norvergence Inc; Chief Operating Officer Alexander L. Wolf.  Whether Mr. Fine

was the president or not, he was involved directly with the financing

as per NorVergence press releases and advertisements, such as:



(In an October 16,2003 e-mail, Mr. Fine stated in an e-mail to Leasing News, which we printed:  "“On a personal note, I can assure you that my twenty-seven years of experience in the equipment leasing industry, primarily working for commercial banks have impressed upon me the need to know the people with whom you are conducting business. Norvergence is an exciting and fast-paced company and I am very happy to be a part of this organization and look forward to its bright future."


(The Norvergence web site is no longer up; however, links show he was "president with full profit and loss responsibility.”


(The Norvergence press release, printed in Leasing News on June 2,2003:


(“NORVERGENCE is pleased to announce that Robert J. Fine has been named as Director of Bank Relations. In his new role Mr. Fine will be responsible for managing all aspects of the company’s non-recourse, third-party relationships as well as developing new funding relationships."”


(Perhaps as important,  for the last year and a half,  I have personally communicated directly with him by telephone and by e-mail and through the NorVergence public relations persons regarding various complaints about service, the equipment, and what was going on.  He denied what readers were saying about the value of the equipment or the separate service agreements on many occasions.  He had made

Leasing News very unpopular with his friends and associates because

we were asking questions, printing what readers were telling us. He was the key point man in the NorVergence private label program.


(As the bankruptcy hearing proceeds, perhaps by the first of the year, many of these things will be further documented in court papers available to the public.  Attorneys have been trying to serve him, but two have told me they have not located to serve him personally.

They believe he is also "personally" responsible as well as a "corporate officer." 


(If you have any information that you could pass along, I will gladly look into it.  We look forward to any comment Mr. Fine would like

to make to Leasing News or any apology readers may want to

make to him because he did not know what was going on

at NorVergence or NorVergence Capital.  editor.)


from October 9,2003  Leasing News


Robert J. Fine



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





Indianapolis, Indiana – Huntington Equipment Finance, a division of Huntington National Bank that provides both tax and non-tax financing solutions for company’s purchasing capital equipment, has appointed Daniel Goller as Vice President of sales for Indiana Region. In his new capacity, Goller will focus on understanding our client’s business, structuring the right financial solution to meet their needs and delivering superior customer service.


“Successful growth in the Equipment Finance business line at Huntington, combined with the strong and continuing commitment of Huntington Bank to its local markets, created a need for local representation across our footprint,” said Rob Allanson, Huntington’s Equipment Finance Division President. “We are very pleased to have added such a capable, experienced and talented individual to our team.”


Prior to joining Huntington, Goller served as a vice-president at Key Equipment Finance of Indianapolis, IN, where he was responsible for new business development and marketing. Daniel Goller earned his bachelor’s degree in business administration and finance from Indiana University.


Huntington Equipment Finance, which began operation in late 2001, provides a strategic opportunity for Huntington to add value to its business clients and equipment vendors who have both large and small financing needs. The team offers financing solutions for assets that include construction, manufacturing, metal working, printing and technology equipment as well as railcars, marine transportation and corporate aircraft.



About Huntington

The Huntington National Bank is the principal subsidiary of Huntington Bancshares Incorporated (NASDAQ: HBAN), a $30 billion regional bank holding company headquartered in Columbus, Ohio.


Through its affiliated companies, Huntington has more than 138 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; through its technologically advanced, 24-hour telephone bank; and through its network of nearly 700 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Georgia, Tennessee, Pennsylvania and Arizona; Private Financial Group offices in Florida; and Mortgage Banking offices in Florida, Maryland and New Jersey. International banking services are made available through the headquarters office in Columbus and additional offices located in the Cayman Islands and Hong Kong.



Sites of Reference:



Inna Gogoua Marketing Specialist

Huntington National Bank

Phone Number: 2165156601

Fax Number: 2165150689




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




AIG Domestic Claims Announces Launch of IntelliRisk NetSource-R- 6.0



NEW YORK----The Primary Claims division of AIG Domestic Claims, a division of the AIG Companies(sm), today announced the launch of IntelliRisk NetSource(R) 6.0, an enhanced version of the leading web-based claims analysis and inquiry system. Version 6.0 features the integration of a new reporting tool that will make it easier to run standard and custom reports.


   Version 6.0 enables users to save customized reports to their library or email them in either PDF, Microsoft(R) Excel, or HTML format. Improved functionality provides advanced sort and filter capabilities to help customize reports by key elements such as location coding, line of business, or state in which the accident occurred. Further, full "bursting" functionality allows customers to segment and distribute reports by key elements. For select reports, users can drill down to access more specific claim details.


   "With the help of the IntelliRisk Advisory Board, we recognized that this enhancement was an important step in increasing risk management efficiency," said Steve Iler, President, Primary Claims. "IntelliRisk NetSource 6.0 reinforces our commitment to expanding our service capabilities to meet the diverse and dynamic needs of our clients through cutting-edge technologies."


   The technology behind the new enhancement is WebFOCUS, a fully integrated enterprise business intelligence suite. WebFOCUS was provided by Information Builders, a leader in enterprise business intelligence and real-time Web reporting, and customized according to the objectives set forth by the IntelliRisk Advisory Board.


   For more information about IntelliRisk NetSource 6.0, please call 800/767-2524.


   AIG is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.


CONTACT:AIG, New York Andrew Silver, 212-770-3141


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


Rail Services Unit of GE Builds on Track Record of Success

with Customers at Global Railway Tech 2004



CHICAGO-- Announces investment in new capabilities and expansion of railcar fleet in response to growing demand -- 


   The Rail Services unit of GE Equipment Services announced it will unveil new capabilities and fleet management technologies at "Global Railway Tech 2004," the 43rd Annual Convention of the Railway Supply Institute (RSI) in Chicago, IL. 


   Rail Services is demonstrating how it is building on its solid track record of over 40 years in providing Class I railroads and shippers with fast, flexible equipment leasing solutions to meet changing market demands. Rail Services has made significant capital investments in 2004 to build on what is already the most diverse fleet in the industry and is targeting up a significant investment program over the next few years. The company is also developing new products and service offerings to help streamline maintenance operations. The result is an even stronger ability to help customers optimize their productivity. 


   "Rail Services is committed to the continued growth and diversification of our fleet in order to meet our customers' current and future demands," says Ted Torbeck, President and CEO, GE Equipment Services, Rail Services. "We're investing significant capital to continue to deliver the best service in the industry." 


   In addition to actively refurbishing current cars as part of its ongoing upgrade plan, Rail Services is planning to add several thousand cars to their fleet over the next several years. 


   "Being a leader in the industry starts with having the right product to meet the customer's needs," says Torbeck. "Rail Services has built our reputation on providing the right cars, with the right lease at the right time. Now we're taking steps to build on that reputation and deliver new products and technologies." 


   The new Maintenance Max(SM) service, also announced today, helps shippers better manage maintenance costs while optimizing their fleet operations. The unique aspect of Maintenance Max(SM) is that it integrates maintenance costs into a fixed monthly fee to eliminate the annual guesswork associated with ongoing maintenance needs. 


   In addition to investing in new technologies, Rail Services is contemporizing its intermodal assets to meet customers' needs. Upgraded chasses give shippers more room to accommodate larger containers and are a less expensive alternative to investing in new equipment. 


   Visit Rail Services in booth 301 in the southeast hall of the Chicago Hilton and Towers during Global Railway Tech 2004. Rail Services' equipment can also be seen on tracks 11, 12 and 13 of Section B at the BNSF/METRA Railyard, Chicago. 


   About GE Equipment Services, Rail Services  


   A unit of the General Electric Company (NYSE:GE) and GE Equipment Services, Rail Services, headquartered in Chicago, Illinois, leases approximately 180,000 railroad cars--including coal hoppers, grain hoppers, refrigerator cars that carry fresh produce and frozen foods, tank cars for petroleum and chemicals, gondola cars for hauling steel and other industrial products, and intermodal flat cars that carry highway semi-trailers and intermodal containers. Additionally, the company leases 150,000 semi-trailers and containers to shippers and railroads.

For further information, visit


CONTACT:GE Rail Services Frank Mantero, 312-853-5557 or Gibbs & Soell Inc. Jennifer Gray, 847-519-9150 Mobile 847-530-5755



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


Janeth C. Hendershot Appointed to Lakeland Bancorp Board of Directors



OAK RIDGE, N.J., -- John W. Fredericks, Chairman of Lakeland Bancorp has announced the appointment of Janeth C. Hendershot to Lakeland Bancorp's Board of Directors.


Ms. Hendershot is a Senior Vice President at Munich-American Risk Partners, and has held various positions at numerous insurance organizations. Ms. Hendershot is a Director of Newton Trust Company, a subsidiary of Lakeland Bancorp and a past Director of Newton Financial Corporation.


Ms. Hendershot, a resident of Washington Crossing, Pennsylvania, has a Bachelor of Arts degree, Cum Laude in Economics from Cornell University.


Lakeland Bancorp, the holding company for Lakeland Bank and Newton Trust Company, has a current asset base of $1.9 billion and forty-eight (48) offices spanning six northwestern New Jersey counties: Bergen, Essex, Morris, Passaic, Sussex and Warren.  Lakeland Bank, headquartered at 250 Oak Ridge Road, Oak Ridge, and Newton Trust Company headquartered at 30 Park Place, Newton, offer an extensive array of consumer and commercial products and services, including online banking, localized commercial lending teams, equipment leasing, and 24- hour or less turnaround time on consumer loan applications.  For more information about their full line of products and services,

visit their website at or,


SOURCE  Lakeland Bancorp 


CO:  Lakeland Bancorp


ST:  New Jersey, New York




Web site:


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


Fitch Issues Presale On CIT Equipment Collateral 2004-DFS



Fitch Ratings-Chicago- Fitch Ratings has issued a presale report on CIT Equipment Collateral 2004-DFS (CITEC 2004-DFS). The notes will be backed by commercial lease contracts originated directly or purchased and serviced by Dell Financial Services L.P. (DFS) through the Dell Inc. (Dell)/ CIT Group Inc. (CIT) Joint Venture. CITEC DFS represents the first CIT securitization composed exclusively of DFS contracts.


The presale report is available to all investors on the Fitch Ratings web site,

''. For more information about Fitch's comprehensive subscription service Fitch Research, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at ''.


Contact: Brigid E. Keyes +1-312-606-2361 or John Bella +1-312-368-2058, Chicago.



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


Fitch Upgrades U.S. Bancorp's L- & S-Term Ratings; Outlook Stable



Fitch Ratings-New York- Fitch has upgraded the long- and short-term ratings of U.S. Bancorp (USB) to 'AA-' and 'F1+', respectively, from 'A+' and 'F1', respectively. The long-term ratings of subsidiary banks, U.S. Bank, NA and U.S. Bank NA ND, as well as trust-preferred securities issued through subsidiary trusts have also been upgraded. These ratings were placed on Positive Outlook during September 2003. A list of ratings is provided at the end of this release.


USB continues to perform well, with its characteristic strong level of earnings driven by a solid net interest margin, diverse sources of noninterest income, and disciplined expense management. USB operates one of the premier banking franchises in the U.S. with a retail banking network spanning 24 states, which is augmented by strong positions in payment systems, asset management, and mortgage banking.


USB has not been immune to challenges on the asset quality front, largely reflecting the last economic downturn that especially affected the manufacturing sector prevalent in its footprint. However, asset quality has vastly improved over the past year, reflecting a slowly improving economy, as well as previous steps taken to reduce the risk profile of the organization by exiting some higher risk segments of both the commercial and consumer portfolios. Nonperforming assets and net charge-offs are both declining, and the loan portfolio is supported by ample reserve coverage.


Through earnings retention and modest balance sheet growth, USB has boosted capital levels, especially tangible common equity (TCE), which has in the past been pressured by acquisition activity and stock buybacks. Capital levels now compare favorably to peer comparisons. USB's strong earnings momentum adds additional flexibility in its ability to quickly build capital.



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



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This Day in American History


This is a National Holiday in Taiwan, designated as "Teachers' Day," to celebrate the birthday of Confucius, the "Latinized " name of Kung-futzu, born at Shantung province on the 27th day of the tenth moon ( lunar calendar) in the 22nd year of Kuke Hsiang of Lu (551 BC).  This day is observed annually on September 28, although the  27th day of the 8th lunar month is considered by the Confucian Society of the Confucius Temple at Causeway Bay.

    1542- California is discovered by Portuguese navigator Juan Rodriguez Cabrillo who reached San Diego Bay. Cabrillo died at San Miguel Island, CA, Jan 3,1543. His birth date is unknown. The Cabrillo National Monument marks his landfall and Cabrillo Day is still observed in California (in some areas on the Saturday nearest Sept 28). Cabrillo left Navidad, Mexico on June 27, and landed at what is now known as Ballast Point, San Diego, CA. He continued his explorations and discovered Santa Catalina Island, San Pedro Bay, the Santa Barbara Channel, San Francisco Bay, and

other West Coast landmarks.  Other Europeans had encountered the Pacific Ocean previously, including Gasco Nunez de Balboa, who had laid eyes on the Pacific in 1513, and Ferdinand Magellan, who had sailed across the Pacific in 152-21 during the first circumnavigation of the world.

( lower part of: )

    1856-Kate Douglas Wiggin born at Philadelphia, PA. She helped organize the first free kindergarten on the West Coast in 1878 at San Francisco and in 1880 she and her sister established the California Kindergarten Training School. After moving back to the east coast she devoted herself to writing, producing a number of children's books including The Birds' Christmas Carol, Polly Oliver's Problem and Rebecca of Sunnybrook Farm. She died at Harrow, England, Aug 24, 1923.

    1886-The Statue of Liberty was dedicated in New York Harbor and women were barred from the ceremony because it would be too crowded and rough for the ladies, but a group of women chartered a boat and circled the island singing and shouting women's rights messages.

    1867-- Toronto becomes the capital of Ontario


    1895- At a convention in Atlanta, three Baptist groups merged to form the National Baptist Convention. It is today the largest African-American denomination in America and the world.

    1901- Birthday of Ed Sullivan, well-known columnist, lived in Port Chester, New York, and in his day was the “King of TV Variety,” born at New York, NY. Sullivan started his media career in 1932 as a sportswriter for the Daily News in New York. His popular variety show, “The Ed Sullivan Show” (“Toast of the Town”), ran from 1948 until 1971. It included such sensational first time public

appearances from such stars as Elvis Presley and the Beatles. He died at New York, NY, Oct 13,1974.

    1912-W.C.Handy’s “Memphis Blues” is published, changing the course of American popular


    1920- Eight members of the 1919 Chicago White Sox were indicted by a grand jury in Chicago on charges that they conspired to fix the 1919 World Series and allowed the Cincinnati Reds to win.  White Sox owner Charles Comisky immediately suspended the eight.  They were acquitted, but were nevertheless banned from baseball for life.

    1930 -- Lou Gehrig's errorless streak ends at 885 consecutive baseball games. The winning pitcher is Babe Ruth, beating the Red Sox 9-3.

    1934-Birthday of French sex symbol Brigitte Bardot ( born Camille Javal), Paris, France.

    1935- Pianist/singer Jerry Lee Lewis Birthday

    1937—President Franklin D. Roosevelt dedicates Bonneville Dam on Columbia River (Oregon.)

    1941-Ted Williams of the Boston Red Sox, starting the day with a batting average of .3995, went six-for-eight in a doubleheader against the Philadelphia Athletics to finish the season with a batting average of .406.  Williams rejected manager Joe Croni’s suggestion to sit out the day and have his average rounded up to .400.  He went four-for-five in the first game to raise his average to .4040 and got two hits in three at-bats in the nightcap.

    1945- Robert Todd Duncan, a baritone of Washington, DC, became the first opera singer who was African-American to sign a white role with a white cast, appearing as Tonio in I Pagliacci, and then as Escamillo in Carmen on September 30 in the New York City Opera Company’s presentation at the City Center of Music and Drama, New York City.

    1954---Top Hits

Sh-Boom - The Crew Cuts

Hey There - Rosemary Clooney

Shake, Rattle and Roll - Bill Haley & His Comets

I Don’t Hurt Anymore - Hank Snow

    1958-"To Know Him Is To Love him" by the Teddy Bears, composed and arranged by 18 year old Phil Spector is released on Dore Records. The title is taken from the inscription on Spector's father's tombstone. The song makes it up to Number One by the end of the year.

    1961- “Hazel” premiered on TV,  based on a comic strip of the same name about a maid working for the Baxter family who gets into everyone’s business. Hazel was played by Shirley Booth, and the Baxters were played by Don DeFore, Whitney Blake and Bobby Buntrock. “Hazel” moved from NBC to CBS after the third season and Hazel switched families from George to younger brother, Steve Baxter. These Baxters were played by Ray Fulmer, Lynn Borden and Julia Benjamin. Buntrock and Booth remained. This very successful series also featured MaIa Powers and Ann Jillian.

    1961 - On NBC, Richard Chamberlain sang the top-10 hit song "Theme from Dr. Kildare (Three Stars Will Shine Tonight)", and played the part of the handsome, young doctor on NBC. Raymond Massey co-starred in the medi-drama. A year into the show's run, Chamberlain’s "Theme from Dr. Kildare" became a hit. On MGM, he also sang "Love Me Tender" and "All I Have to Do is Dream" in 1962 and 1963.

    1962- US Circuit Court of Appeals orders James Meredith admitted to U of Mississippi.

    1962---Top Hits

Sheila - Tommy Roe

Ramblin’ Rose - Nat King Cole

Green Onions - Booker T. & The MG’s

Devil Woman - Marty Robbins

    1963-The legendary New York disc jockey Murray The K receives a copy of The Beatles' "She Loves You" and plays it on the radio. It is believed to be the first Beatles song ever played in the U.S,

    1963-The Beach Boys' "Little Deuce Coupe" peaks at #15 on the singles chart.

    1968-The Beatles' "Hey Jude" hits #1 on the singles chart, a position it will hold for 9 weeks. At 7 minutes 11 seconds, it was the longest song ever to hit the Billboard Hot 100 chart, an honor it held until Richard Harris' "MacArthur Park" in 1972 clocked in at 7:20.

    1970---Top Hits

Ain’t No Mountain High Enough - Diana Ross

Lookin’ Out My Back Door/Long as I Can See the Light - Creedence Clearwater Revival

Julie, Do Ya Love Me - Bobby Sherman

There Must Be More to Love Than This - Jerry Lee Lewis

    1976 - World heavyweight boxing champion Muhammad Ali won a unanimous 15-round decision over Ken Norton at Madison Square Gardens in New York City.

    1982-Poisoning of store merchandise, the first of its kind to have resulted in numerous deaths, took place in and around Chicago, Il,.  In a three-day period form September 29 to October 1,1982, several people died after taking Tylenol, a brand of acetaminophen, which they had bought at local drugstores and supermarkets. A murder who was never apprehended had removed the bottles from store shelves, opened them, added cyanide to the capsules of Tylenol, and replaced them in the stores.  The poisonings led to the introduction of wraps and seals on all pharmaceutical products and many other products as well.

    1978---Top Hits

Boogie Oogie Oogie - A Taste of Honey

Kiss You All Over - Exile

Hopelessly Devoted to You - Olivia Newton-John

I’ve Always Been Crazy - Waylon Jennings

    1985-Phil Collins' "Don't Lose My Number" peaks at #4 on the singles chart.

    1986---Top Hits

Stuck with You - Huey Lewis & The News

Friends and Lovers - Gloria Loring & Carl Anderson

Walk This Way - Run-D.M.C.

In Love - Ronnie Milsap

    1988-The first American women to ascent Mount Everest was Stacy Allison of the Northwest American Everest Expedition.  Peggy Luce, was who part of the same expedition, completed her ascent two days later.  Both used the South Col route.

    1989-Jimmy Buffett publishes a book of short stories entitled, "Tales From Margaritaville."

    1989 - Thunderstorms over northeastern Florida drenched Jacksonville with 4.28 inches of rain between midnight and 6 AM EDT. Unseasonably cool weather prevailed in the northeastern U.S. Five cities reported record low temperatures for the date, including Binghamton NY with a reading of 30 degrees. Morning lows were in the 20s in northern New England. Unseasonably mild weather prevailed in the northwestern U.S., with afternoon highs in the upper 70s and 80s. In Oregon, Astoria reported a record high of 83 degrees

    1991-R.E.M.'s "Shiny Happy People" peaks at #10 on the singles chart.

    1991-Dire Straits' "On Every Street" enters the LP chart.



Baseball Poems


  Ballpark Haiku


              by Tim Peller



Hot wicked summer

 Against the fat man's belly

 Budweiser can sweats


Under the shrubbery

Down by the bullpen mound

Yellow jackets whine




Budweiser! he calls

between innings, between pitches,

between breaths



    God Protects Fools with Curveballs


Going after her

Was chasing

A bad pitch,

A sharp curve

That tailed off

Into the dirt,

Evaded the end

Of my whirling bat.

Thank goodness

I only looked stupid

On the first strike.




    from “ Touching the Bases”


These come from a soft cover 128 pages

with index published by

( they take two weeks to send, but you are helping

 this company stay alive, or you can buy from

 Amazon, for the same price, but perhaps faster

delivery. While they are all mostly baseball,

some are not. He is a unique American poet.

He lives in Hickory, North Carolina.




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