Bad News for Leasing

The negative impact has been growing, including more national media attention, such as this  broadcast on CBS TV News: 

Bum Leases Hit Small Businesses

http://www.cbsnews.com/stories/2004/10/15/eveningnews/consumer/
main649724.shtml?CMP=ILC-SearchStories

Recent Sample of Comments Leasing News Has Received:

“I will NEVER lease anything from anybody. You whole industry is rampant with fraud. If the biggest leasing companies in the country are involved in the Norvergence mess, there is no hope for commercial leasing.”

Paul Klinger

“Since I am a member of the Weir Group I can substantiate that 1,278 firms joined them.  In addition the cost was a 3 month lease payment, in my case slightly over $1800. The count on the Weir Group was at their original deadline to join.  I do not know how many others have joined since the middle of September ( the end of the 3 month payment enrollment fee).”

Mike Honold

“...There are three:  the NJ Class Action, the Weir Group, and a third class action out of Miami Fl. The Weir action is a group, not class action which has already filed with over 20 pages of plaintiffs.  At last count the number of companies enjoined was approaching 2000 which would make a war chest approaching 2 Million dollars. Hardly a shoestring. The Weir action is offensive for companies that have not been sued by an LC yet; added to this is probably hundreds if not thousands of business's or groups with various attorneys around the country defending LC law suits in their home states... I will never lease again.”

  (name with held )