Orix—Time to Heal



"Your last article regarding the "Down Dates" for ORIX has everyone so worried. I appreciate your posting of the information pertaining to ORIX. As I said before, this is about the only information that we are given.


"Just like Gary's statement Friday, corporate isn't saying much either. If so, it's so full of holes that they leave an easy out for themselves if they do shut us down.


"All of the "BEST" employees are leaving for jobs with other companies. Some of these people are the only person in their position with the knowledge it takes to keep things going. If ORIX doesn't close, they might as well.


"It's all down hill from here for ORIX!"


 (name with held )





"Attached is the memo that was sent out to the OFS employees on Wednesday.  One interesting note is that it was put in a PDF format so that it couldn't be printed out or posted on your site.  I guess they have grown increasingly irritated with your site and view it as "The Gadfly Of The State".


"I have heard that the execs in Dallas were so ***** that some of this information has hit your site that they have delayed the announcement of the executives whom are being let go in an effort to discredit Leasing News."


( name with held )











Leasing news has many such e-mails. It's time to stop thinking "us versus them" or "versus Leasing News."  It is obvious employees at Orix Financial have a tremendous desire to communicate their concerns. We have printed the “cry for help.”  It appears management has gotten part of the message, and appears to realize that there is not only “miscommunication,” but “fear” and “apprehension.”  Instead of being from just a few, it is growing and appears to be of concern to the company.


This is evident in the memo from Orix USA Financial President

Gary E. Corr.




Leasing News believes the concerns, which several readers

refer to as “fear,” needs to be addressed in an open question and answer session, similar to a staff meeting; but due to the logistics, we recommend a “telephone conference call” with all employees in the financial division.


This was extremely successful for CIT president Al Gamper, Jr.,

in the transition from Tyco to going public again.  Gamper spoke

to employees in offices around the world, making a telephone number with tape available to employees who were not able to participate, so they could listen to the conversation in an “un-edited” format.


Friday, April 25th, 2002, he addressed the employee's fears.

He spoke to them a second time  about what was going, has his right hand person with him, who also spoke about the financial condition. He did not have all the answers, said he would talk to Human Resources, and also directed questions to others in his company. He came across confident, considerate, and you could tell he wanted everyone “to be on the same page.”







Leasing News at the time went on the limb and advised to

buy this stock when it came out because you were not buying

a company, you were buying “people.”


CIT, even though part of Tyco, was a company working together, almost with a family attitude.  I am sure they had their disputes and arguments, but they worked them out, they moved forward, they changed with the times, they cared.  Even people who retired, many after twenty or twenty-five, or more years, still talk how proud they were part of CIT Financial.


Gamper went on the road, visited offices, made his pitch about

CIT, and also spoke directly with the employees, involving his management team, about the direction.  He was the boss.  He didn't hide. He was a street fighter.  He was proud of his “people.”


Gary E. Corr has an excellent reputation, both peers and employees don't seem to question his integrity or leadership, but they are afraid of the closings and changes and what will happen to them.  Leasing News suggests Mr. Corr engage all the employees in his division in a telephone conference call, perhaps follow it up in a week or two, as the first conference call may have technical difficulties and also many may be too afraid to speak. It worked from Gamper, and it may work for Corr, too.


Virus Info Center

Leasing News, Inc.
346 Mathew Street,
Santa Clara,
California 95050
Voice: 408-727-7477 Fax: 800-727-3851

Mission Statment