Leasing News

Copenhagen, Denmark
10 years of experience as VP Europe, Middle East and Africa for a US based Equipment Leasing Company. $500,000 plus w/ excellent connections European shipping lines/ maritime financing.
Click here.

Fresno, CA
Aggressive, competitive self-starter w/successful vendor/direct equipment leasing and asset-based lending experience seeks return to leasing industry after successful stint in business banking sales.
Email: dsp559@hotmail.com
Resume

Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker.
334-590-5133
E-mail: billmcneal2003@yahoo.com

Philadelphia, PA
25 years in Healthcare and seeking an opportunity to represent a lender for dental/medical funding in the Northeast to Mid-Atlantic states. email: mitutz@msn.com

San Diego , CA
Tenacious, competitive self-starter w/successful vendor/direct equipment leasing and asset-based lending experience seeks return to leasing industry after successful stint in secondary mortgage markets sales.
E-mail: pajohnson1@cox.net

Stuart, FL area
Years of experience in leasing sales, credit, operations, documentation and syndication. Seeking position with direct middle market lender, equip. mfr or major equip. distributor.
email: southernleasing@bellsouth.net

UAEL Volunteer of the Month-Bob Teichman, CLP

Bob Teichman, CLP
Teichman Financial Training
e-mail: BoTei@aol.com

Leasing News Chairman of the Advisory Board Robert Teichman, CLP, was named Volunteer of the Month for the United Association of Equipment Leasing (UAEL.)

"Bob Teichman, CLP started in automotive leasing sales in 1963, then moved into equipment leasing in the late 1960’s. For over 20 years he provided funding for leasing companies as an officer of both bank and non-bank lenders, and started several successful leasing companies. His company, Teichman Financial Training, located in Sausalito, California, was founded in 1998 and provides lease education and consulting services to lessors, funders, brokers, bankers, government agencies and other members of the financial community.

"He was Chairman of UAEL’s Education Committee with responsibility for the Certification and Educational Programs from 1994 through 1998, and served four years on UAEL's Board of Directors. He is currently a member of the UAEL Education Committee and is instrumental in the development of UAEL educational materials including the new video presentation "The Benefits of Leasing".

"Bob is a frequent speaker at leasing industry events, and has written articles for many industry publications. He is a co-author of the Certified Lease Professional’s Handbook and currently serves as President and Member of the CLP Foundation’s Board of Directors. Bob also serves as Chairman of the Leasing News Advisory Board."

One of Seattle's fastest-growing banks is buying one of the region's most established leasing companies.

First Sound Bank has signed an agreement to acquire Bellevue-based Puget Sound Leasing Company Inc. The deal would more than double the bank's 32-person staff while adding a revenue stream that First Sound executives say could help insulate their firm against recession.

"This is a huge deal, and it's going to be very significant" for the bank, said Don Hirtzel, First Sound's chairman and chief executive officer.

Founded in 1985, Puget Sound Leasing specializes in helping businesses acquire equipment ranging from office machines to forklifts. The company essentially buys the equipment a business needs, rents it to that firm, and collects revenue from the lease.

According to Hirtzel, Puget Sound Leasing generates roughly $8 million a month in new leases and has an average delinquency rate of less than 1 percent.

That made it an attractive target for First Sound, which has intended to establish a leasing arm since it opened its doors three years ago, according to Hirtzel and Steve Shaughnessy, the bank's president and chief operating officer.

One reason for the move: Leasing companies often flourish during economic downturns, when cash-strapped business prefer to lease -- rather than buy -- expensive equipment.

The acquisition also gives First Sound inroads to Puget Sound Leasing's customers, most of whom are small- and mid-sized businesses that match First Sound's target clientele.

Shaughnessy would not disclose terms of the stock-and-cash purchase, other than to say "it's a multimillion-dollar deal."

First Sound expects the deal to close early next year. The acquisition is subject to regulatory approval.

By the end of the year, offices of First Horizon Home Loans will no longer accept deposits as parent company First Tennessee Bank National Association gives up its bricks and mortar.

"We're going to be focusing on Internet banking," said Sam Ishii, manager of the Honolulu branch of First Horizon. Letters will be sent to clients detailing the change.

Customers will be able to maintain accounts, but will no longer have face-to-face interaction with the financial services managers who once worked at the loan offices, a change that Ishii said will bolster the bank's own yields.

The Honolulu office carried an average of $5 million in deposits each month, Ishii said, drawing clients with competitive rates of return on checking, savings and time deposits. Mortgage loans for First Horizon totaled $231.6 million this year through August, according to Title Guaranty of Hawaii.

The move comes as First Tennessee sells 34 First Horizon bank branches in New York, Virginia, Maryland, Texas and Georgia.

Publish interest tables, also computed the rates into factors, where you could then compute "retail" rates from "wholesale" rates.

For instance, on 60 months .025 was 18% or 10% add on ( in advance) and you could then multiply 1.05 ( if you wanted five points) times it and get the retail rate, the selling rate.
They also have books that had first and last and then with residuals.

A reader asked us for a program that would calculate his commission based on a lease factor. Many founders and equipment leasing companies offer these programs on line, for free. Some allow you to download the program Excel can also do this easily.
Bob Teichman, CLP, sent us the correct formula for HP17BII :
ADV:PMT=(-PV-FVx(SPPV(I%YR÷12:N)))÷(USPV(I%YR÷12:N-#ADV)+#ADV)
"This is a very difficult formula to copy correctly, whether on paper or on the calculator.
"I use this formula in my pricing classes, and it is very useful as it will solve for any of the leasing variables, given any number of advance payments, including rate factor, cost, term, yield (or rate), and residual. As shown above, the formula is only for leases or loans which are paid monthly and where payments are level. However, the formula could be easily adapted to other payment periods (quarterly, for instance). You would have to use a difference formula, or a program such as T-Value, to calculate skip or step payment structures.

"Thanks for printing the information about on-line calculators. I continually refer people to your list."
Regards,

Bob Teichman, CLP
Teichman Financial Training
3030 Bridgeway, Suite 213
Sausalito, CA 94965
Tel: 415 331-6445
Fax: 415 331-6451
e-mail: BoTei@aol.com

In the old days we would take the factor and multiply it by 1.00 with the commission the salesman was seeking. For instance, .0331 and the salesman wanted five points, multiply 1.05 times .0331 and it would be 034755.

Here are some personal financial portals and calculation tools we will be adding to the page:

CNN Money has also a financial calculator and other tools, and it's advantage, it is designed with currency converters, and may other programs at work all over the world:
http://cgi.money.cnn.com/tools/

If there is a calculator we have not mentioned on this page, please let us know as we will share with other readers.

Rosanne Wilson, CLP, sent in a company that will add a calculator to your web page for a fee.
http://www.tcalc.com/
Rosanne Wilson, CLP
1st Independent Leasing, Inc.
3800 SW Cedar Hills Blvd., Suite 165
Beaverton , OR 97005
(800) 926-0851 or Fax: (503) 626-1631
"It's the Lease We Can Do"
www.1stindependentleasing.com

EFD Credit Officer

EFD Credit Officer III
Walnut Creek, CA

You will underwrite equipment finance and lease transactions primarily using credit scoring systems. Requires 5 years lending experience including underwriting.
CLICK HERE for a detailed description and resume submission info.

Visit www.bankofthewest.com, for more information. Bank of the West and its subsidiaries are equal opportunity/affirmative action employers.

www.bankofthewest.com

Funding/Lease Processor

Funding/Lease Processor
Los Angeles, California

Organized, detail person, 1 yr min. Brokering/discounting exp. Unlimited career growth.Contact: jdobens@taycor.com

Taycor has been in business for over 10 years with access to every major funding source.

www.taycor.com

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ATEL Capital Group is pleased to announce the close of its most recent privately placed investment program ATEL Growth Capital Fund III (“GC3”). The $35 million dollar fund provides debt and equity to pre-IPO emerging growth companies that offer the potential for substantial capital appreciation. The close of GC3 brings the total funds committed by ATEL to this growing market to $100MM.

ATEL has sponsored twelve prior public equipment leasing and four private growth capital investment programs that have purchased $2 Billion of equipment with over 44,000 investors.

ATEL's team is made up of seasoned executives with deep experience and a reputation for helping to unlock the value of growing companies. The new fund will leverage this expertise in its attempt to select only the best quality companies to add to its growing portfolio.

About ATEL Capital Group
Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private closely held independent leasing company in the United States. ATEL Capital Group offers a broad spectrum of leasing services and a diverse mix of other investments. The family of ATEL companies includes subsidiaries specifically dedicated to providing flexible equipment financing solutions for corporate accounts, equipment vendors, lease brokers and banking institutions. These subsidiaries, supported by ATEL’s capital market group, have priced, structured, negotiated and funded over $30 billion of equipment transactions. For information about ATEL Capital Group and its services, contact Mari Lynch, Vice President, Human Resources or visit their website at www.atel.com.

National Foundation for Credit Counseling Holding Annual Leaders Conference
To Discuss Housing and Other Issues Impacting the American Consumer

Silver Spring, MD – With everyone from policymakers and journalists to homeowners themselves becoming more and more concerned about the deepening mortgage crisis in this country, the National Foundation for Credit Counseling (NFCC) is gathering in Portland, October 1 to 3 to address this and other pressing issues confronting the American consumer.

This year’s conference will bring together more than 250 agency executives, credit counselors, national leaders and stakeholders from around the country. Featured speakers and panels in Portland include:

In addition, there will be numerous workshops and other presentations addressing important issues and providing agency representatives with the tools to better serve consumers.

Members of the press interested in covering the conference should contact Nick Jacobs at (301) 576-2537 (direct) or (240) 599-6547 (cell) or via email at: njacobs@nfcc.org to obtain a conference program. Note: Some sessions are for NFCC members only.

The National Foundation for Credit Counseling (NFCC), founded in 1951, is the nation’s largest and longest serving national nonprofit credit counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior and build capacity for its members to deliver the highest quality financial education and counseling services. NFCC members annually help two million consumers through its nearly 1,000 community-based offices nationwide. For free and affordable confidential advice through a reputable NFCC member, call 1-800-388-2227, (en Español 1-800-682-9832) or visit www.nfcc.org.

SlingMedia Inc., an ATEL Growth Capital Portfolio Company, is being acquired by EchoStar Communications Corp in a deal valued at $380mm and expected to close in Q4’07. We will of course keep you updated as more specific terms are identified. ATEL Growth Capital 1, 2, and 3, as well as Fund X and XI will all benefit from this positive event.

ENGLEWOOD, Colo. -- Satellite television provider EchoStar Communications Corp. has agreed to acquire Sling Media Inc. in a cash and options deal that values the provider of Slingbox at $380 million.

Sling Media, based in Foster City, Calif., makes devices that lets consumers send content from their TVs over the Internet to desktop computers, laptops or cellphones. "

As an early investor in Sling Media, EchoStar has been pleased with the progress and commitment the company has made establishing Sling Media and the Slingbox as powerful and beloved digital media brands," EchoStar CEO Charlie Ergen said in a written statement.

"We are psyched to make this announcement," Mr. Krikorian said. "We have worked closely with EchoStar for more than two years, and have come to realize that both companies have similar entrepreneurial cultures and mutual dedication and passion for creating empowering experiences that benefit the consumer and the media industry."

-Jim
James A. Kamradt
Executive Vice President
Direct: 415.616.3458
Mobile: 415.385.5464

CHICAGO--GATX Corporation today announced that Robert Zmudka has been appointed vice president and executive director - strategic sales and that Katie Hadenfeldt has joined GATX as director - strategic sales. The strategic sales team will focus on GATX's Class I railroad customers as well as the renewable fuels markets, including ethanol, biodiesel and other bioenergy products. In addition, Mr. Zmudka will have responsibility for GATX's Canadian sales operations.

Thomas Ellman, chief commercial officer - rail of GATX stated, "As a leader in railcar leasing and services in North America, GATX is very proud of our lasting customer relationships. With their considerable market knowledge, rail asset expertise and strong customer focus, we look to Rob and Katie to enhance our relationships with the major railroads and bioenergy companies."

Mr. Zmudka joined GATX in 1989 and has served in a variety of commercial and asset management positions, most recently as vice president for Midwest regional sales, where he led GATX growth in the biofuels market. Mr. Zmudka received his bachelor of science degree from Illinois State University in 1989 and his masters of business administration from Dominican University in 1992.

Ms. Hadenfeldt joined GATX in August 2007 after six years with Union Pacific Railroad, where she most recently served as senior business manager for ethanol development and sales. She also worked at International Paper as inbound rail logistics manager. Ms. Hadenfeldt graduated from Iowa State University in 2000 with a bachelor of science degree in marketing, transportation logistics and international business. She will be based in Omaha, Nebraska.

GATX Corporation (NYSE:GMT) provides lease financing and related services to customers operating rail, marine and other targeted assets. GATX is a leader in leasing transportation assets and controls one of the largest railcar fleets in the world. Applying over a century of operating experience and strong market and asset expertise, GATX provides quality assets and services to customers worldwide. GATX has been headquartered in Chicago, Illinois since its founding in 1898 and has traded on the New York Stock Exchange since 1916. For more information, visit the Company's website at www.gatx.com.

Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com.

CONTACT:
GATX Corporation
Rhonda S. Johnson, 312-621-6262
Director, Investor Relations
rhonda.johnson@gatx.com

### Press Release ###########################
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    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: http://memory.loc.gov/ammem/today/sep28.html )
    1836-- the first of 3 early snows for the year hit the northeast, Hamilton NY had 4 inches, Asby, MA had 2 inches.
    1850-Brigham Young, Mormon leader, was named first governor of the territory of Utah by Pres. Fillmore.
    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
http://www.lonelyplanet.com/destinations/north_america/toronto/history.htm
http://www.city.toronto.on.ca/archives/index.htm#more
http://www.blackhole.on.ca/index_history.html
    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 music.
http://memory.loc.gov/ammem/today/sep28.html
    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.
    1928-~ Glen Gray's orchestra recorded Under a Blanket of Blue, with Kenny Sargeant on vocals.
    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.
http://www.triviatribute.com/brigittebardot.html
http://www.jon-aristides.com/brigitte.html
http://www.silverscreensirens.com/brigitte.htm
    1935- Pianist/singer Jerry Lee Lewis Birthday
http://www.jerryleelewis.com/
    1937—President Franklin D. Roosevelt dedicates Bonneville Dam on Columbia River (Oregon.)
http://www.ohwy.com/or/b/bonnedam.htm
http://www.cqs.washington.edu/crisp/hydro/bon.html
    1938 –Birthday of Ben E. King (Benjamin Earl Nelson), Singer, songwriter
    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.
    1958--.With 7 hits in his last 11 at-bats, Red Sox outfielder Ted Williams wins his sixth and final batting becoming the first 40-year old to lead the league in hitting. The 'Splendid Splinter's' .328 batting average beats out his teammate Pete Runnels, who goes 0-for-4 today and ends up with .322.
    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.
http://www.olemiss.edu/depts/english/ms-writers/dir/meredith_james/
    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
    1974- "Rock Me Gently" by Andy Kim topped the charts and stayed there for a week.
    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.
    1991- "Good Vibrations" by Marky Mark & the Funky Bunch topped the charts and stayed there for 2 weeks.
    2001--- In the first home game at Wrigley since the terrorist attacks on America, Sammy Sosa, after hitting his 59th home run of the season, pulls out a small American flag and waves it as he circles the bases. After scoring and making a curtain call from the dugout, the Cub slugger continues to wave Old Glory.
    2001 ---On a night he hits his 68th round tripper of the season in quest of Mark McGwire's single season home run record, Barry Bonds is walked for the 163rd time breaking 'Big Mac's' 1998 National League record for bases on balls. The major league record is 170 walks held by Babe Ruth.
    2003 ---Ron Santo, the team's radio color commentator joins Hall of Famers Ernie Banks and Billy Williams becoming third player to have his number retired by the Cubs. The former third baseman, who spent 14 of his 15-year career with the Chicago (1960-73), will have his uniform #10 below Ernie Banks' on the left-field foul pole.

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?