EXCEL Investment Group, Florida (12/03) A Federal Inspector by the name of Sal Farash said this operation has now reached over $1.9 Million dollars in fraud. Peter Gonzales, the President of EXCEL Investment Group was arrested a few weeks ago. He got bailed out 24 hours later, but they are "watching" him. “They are going to get this case tried within 90 days to 6 months and hopefully put him away for good. There are assets that they can seize and hopefully get some of the victims compensated. The Inspector, Sal Farash, can be reached at (954) 436-7228.He is asking for victims of EXCEL Investment Group or Nations Capital Credit.


    Ag Services of America, Inc. (NYSE:ASV) (11/03) Rabobank to Acquire Ag Services of America, Inc.; Rabobank (corporate and investment banking arm of The Netherlands-based Rabobank Group) Continues Its Expansion of US Agri-Business Finance


    Milestone Capital, NJ (10/01) files for BK protection


    Decision Systems/IDS (9/03) Becomes private company (8/03 Twins Engineers wins bid (8/03) Capital Stream to let offer lapse (7/03) Twins Engineering, Summit enter fray (7/03) Capital Stream ups ante ( 6/03) Bidding starts for ownership by CapitalStream, as others jump in. (3/2003) Year-end not so good in UK. www.leasingnews.org/archives/March%202003/03-12-03.htm#ids (2/2003)Highly reliable rumors US company for sale.


    Bay View Capital, San Mateo, CA (7/03) (the Company) reported net assets in liquidation of $409.9 million, or $6.37 in net assets in liquidation per outstanding share at June 30, 2003 as compared to $411.0 million, or $6.41 in net assets in liquidation per outstanding share at March 31, 2003. (8/2001) Jeff Allard last day, door now closed says "Goodbye", going to co-produce "Texas Chain Saw Massacre" movie.  (7/2001) reports a second quarter 2001 net loss of  $95.4 million.  (5/2001) Jeff Allard, CLP, COO ... "decided to exit the commercial leasing business and other business lines due to the strategic change in the company's direction as determined by the new management team."  Parent company running out of money, a lot of good people let go.  (2/2001) reports fourth quarter net loss of $92.5 million.  (12/2000) Announces $17 million loss/later does not issue dividend.



    Venserve/Salestream (3/2003) Warburg Pincus is selling it's interest in SaleStream Capital to Texas Equity Holdings (TEH, LLC) a company owned and operated by Lighthouse Investments. One report states banker and former Sierra Cities major domo Fred Van Etten is the key to the arrangement. http://www.leasingnews.org/archives/March%202003/03-10-03.htm#ven

    FirstCorp, Portland Oregon (3/2003 )acquired by IFC Credit. Highlights, according to their press release, include: "10,000 leases under management totaling $200 million in receivables.120 employees located in the metropolitan areas of Chicago, Los Angeles, Dallas, Atlanta, New York, and Portland, with IFC's headquarters being maintained in Morton Grove, Illinois.32 sales and marketing professionals serving the vendor services, middle market, and venture leasing market segments. Assimilation of FIRSTCORP's business platform into IFC Credit's leasing operations, with lease operations being directed by John Estok, former President of FIRSTCORP.Integration of FIRSTCORP's web-based Lease Sales Manager front-end software with IFC Credit's LeasePlus software, both products of Lease Team, Inc. of Omaha, Nebraska." http://www.leasingnews.org/archives/March%202003/03-03-03.htm#ifc (1/2003) Purchased by IFC Credit (reported 1/2003 but full story is here)


    Southern Pacific Bancorp (2/2003) delays sale of portfolio. (2/2003) The story of SP's demise http://www.leasingnews.org/archives/February%202003/02-18-03.htm (2/2003) Bad Telcom Leases close Southern Pacific down, to open with new owner (first major California bank to close since 2000). http://www.leasingnews.org/archives/February%202003/02-12-03.htm#bad (4/2002) Changes of bank management personnel take place. Imperial Credit Industries, Inc., is the parent company of Southern Pacific Bank, a FDIC insured industrial bank headquartered in Torrance, California. Southern Pacific Bank offers a wide variety of commercial loan and lease products to its borrowers and certificates of deposit, money market, passbook, and IRA accounts to its depositors. Southern Pacific Bank offers loans through its core lending divisions, including: Coast Business Credit -- specializing in asset-based commercial lending; Imperial Warehouse Finance -- offering residential mortgage repurchase facilities; the Lewis Horwitz Organization -- the premier lender to independent film and television production companies; the Income Property Lending Division -- lending to multifamily and commercial property owners; and Southern Pacific BanCapital -- offering equipment leasing to middle market businesses. (3/2002) “for the time being” not going to be able to take any more intermediary business, according to W. Scott McCullum, Capital Advance Leasing


    Conseco Finance Vendor Service (1/2003) Bankruptcy judge OKs auction plans for Conseco Finance 12/2002---In the third- largest bankruptcy in U.S. history, Conseco Inc. filed for Chapter 11 protection after four months of talks with creditors to restructure the insurance and finance company's $6.5 billion in debt. Although the filing was not surprising given Conseco's recent woes, it marked a dramatic downfall for a company whose stock was once a Wall Street darling. From 1988 to 1998, the company's stock averaged a total return of 47 percent per year and Conseco shares traded as high as $58. Today, the stock trades at less than a nickel per share. The filing follows a years long tailspin after the conglomerate's aggressive acquisition strategy in the 1990s backfired. ( 12/2000) purchased by Wells Fargo Leasing.

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