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Export Finance Administrator for cross-border equipment deals. Seeking someone with existing strong credit, administrative, and people skills whom we can train in our specialized international credit services. Fluent English and Spanish required. To learn more and apply, click here .

Meridian Finance Group provides credit, insurance, and financial services that help U.S. exporters to increase their international sales.

www.meridianfinance.com

Wednesday, April 20, 2005

Headlines---

Classified Ads---Attorneys Specialize in Leasing
  Bridge Capital Leasing, Mission Viejo, CA
    -Bulletin Board Complaint
        120 Days to add NorVergence to Missouri Law Suit
New Classified Section---Legal Expert
    Kit Menkin's New Office
        Alexa Ranks Leasing Association Web Sites
            Cartoon----
Leasing Association Spring Conferences
    Small Businesses Get New Tool to Assess Risk of Fraud
        Classified—Help Wanted
Insight Islamic Finance/Impact Shari'a Law
    U.S. Bancorp Record Net Income First Q 2005
        GATX Air Formation Aircraft Joint Venture
            TIP Promotes Peters and Baker
News Briefs---
    Sports Briefs---
        California Nuts Brief---
            "Gimme that Wine"
                This Day in American History
                    Baseball Poem

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

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California, National: city: Riverside
Ellen Stern - get results, reasonable pricing; numerous industry contacts, nearly 30 yrs exp.in SoCal, 20 yrs equip.: CFL license specialist, documentation, work-outs, litigated collections, recoveries; deal-maker.
Email: leaselaw@msn.com | UAEL
California - statewide: CA      "ELA"
5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders,plus collection and creditor rep. in bankruptcy.
Email: phemar@hemar.com
Website: www.hemar.com
California - statewide: Encino, CA.   "ELA"
24 Attorney AV-rated Lawfirm representing the Leasing Industry for over 25 Years. We specialize in Lease-enforcement, collection and representation in Bankruptcy Court.
email: sjenkins@hemar-rousso.com
Website: www.hemar-rousso.com
Connecticut, Southern New England: EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates.
email: rcfeldman@snet.net     EAEL
Law Firm - Service , Dallas, TX. ELA
Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.
email: dmayer@pattonboggs.com
Website:
www.pattonboggs.com
Los Angeles, Statewide: CA.     "ELA" Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly basis.
email: RGarwacki@prodigy.net

Los Angeles -statewide: CA      "ELA "
Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email: rrcohn@aol.com

Los Angeles, CA.
Wagner & Zielinski,  successfully representing lessees/ lessors.  Not a member of any leasing organization, therefore not beholden to special interests.  Richard Wagner
800 931 0450 www.wzlawyers.com

Long Beach CA.
Paul Bent, helping settle deals that have gone bad. Attorney for 20+ years with GoodSmith & Co., now providing mediation and dispute resolution for lessees and lessors.
www.paulbent.com

National: Coston & Rademacher: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate/finance, workouts, litigation, bankruptcy, portfolio management. Chicago-based national practice. Jim Coston, CLP (Members: UAEL, ELA, MAEL).
email: Jcoston@costonlaw.com
Website: www.costonlaw.com
Northern California - Statewide: CA "EAEL" "ELA" San Francisco expertise at Marin County prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq.
Vox: 415 461 3777
Email: keng@kengreenelaw.com
Website: www.kengreenelaw.com

National:  Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs:
Email: bmarks@bakerdonelson.com
Website: www.leaselawyer.com

St. Louis County, MO. - statewide:
Defend clients sued by Popular Leasing USA and other assignees of Norvergence rental agreements. Also register and collect foreign judgments. Ronald J. Eisenberg, Esq.
Email: reisenberg@sl-lawyers.com
Schultz & Little L.L.P. www.sl-lawyers.com

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Bridge Capital Leasing, Mission Viejo, CA-Bulletin Board Complaint

This is the fourth posted complaint and concerns Bridge Capital Leasing, 26691 Plaza Street, Suite 1809, Mission Viejo, California

March 29, 2005
“Name = Ryan Crownholm
Address = PO BOX 4033
City = Walnut Creek
State = CA
Zipcode = 94597
Phone = 925-250-6434
Fax = 925-229-2246
Email =ryan@haulingpros.com

Comments or Questions= I got burned by Bridge Capital Leasing as many others have in this forum. They stole $2298 from me and my company. Do I have any recourse on this company?”

There are copies of confirmation of the money wired to Bridge Capital's bank, signed documents, including a letter dated March 18 th from Paul Behechiti, president:

“Matthew Brown has forward to me your request for a written decline of the equipment-financing request for 1999 Limo bus equipment for your company Escape Crew, Inc. I am unable to provide you with such request at this time as we have this file open and pending. The approval at this time is contingent upon receipt of additional information requested from you on March 15, 2005 via facsimile. Our investor is essentially considering to move forward with this transaction provided that you can produce the above mention documents, namely application on Hauling pro's as well as a list of available and unencumbered collateral valued at half of the requested financing amount. As mentioned in our telephone conversation, I am confident that I can negotiate the removal of the pledging of additional collateral provided all other credit criteria are satisfied.

Please le me office know of your decision in writing.”

A copy of all the documents received, including a “terms and conditions” agreement which does not require an additional guarantor nor pledging of additional collateral, was sent to Mr. Behechiti, asking for a comment.

April 19, 2005:

“Due to the fact that this transaction has not yet been consummated or declined, and pursuant to federal Privacy Laws and the confidential nature of this transaction, Bridge Capital Leasing is unable to disclose privileged borrower information in a public forum.”

The Better Business Bureau has Bridge Capital Leasing listed as a “D”

http://www.labbb.org/BBBWeb/Forms/Business/CompanyReportPage_
Expository.aspx?CompanyID=13208420&hAKAID=14&hAddrID=12

“We have enough concerns about this company (for example, their offer, customer complaints, advertising, etc.) that we recommend caution in doing business with it.

“3 Making a full refund, as the consumer requested
0 Making a partial refund
0 Agreeing to perform according to their contract
0 Refusing to make an adjustment
3 Refuse to adjust, relying on terms of agreement
0 Unanswered
3 Unassigned

“Complaint Experience

Complainants allege misrepresentation of services, failure to fund leases and difficulty obtaining refunds. Some complainants contend the company solicits them with "pre-approved" lease agreements requiring a deposit of the first and last months rent along with a processing fee. According to most complainants, after submitting the requested documentation, signing paperwork and paying deposits, the company fails to fund leases and make refunds. Another complainant alleges after signing a contract to obtaining leasing at a particular percentage and rate, the company breached the contract by offering two leases at higher terms than contracted. The company responds to some complaints by advising customers they are retaining deposits for future leases. In some cases, the company explained that leases were not funded because the customer failed to provide required documents to continue the process. In another case, the company explained they could not finance inventory or sellable merchandise because their was no collateral in which they could obtain a UCC lien on, but they offered to hold the clients deposit for a future equipment lease. The company responded to other complaints by issuing a refund, or returning documents. In general the company fails to address what services were provided to warrant retaining full deposits when leases are not funded. “

Escape Crew, Inc may take this matter to California Small Claims Court, where they can appear in person, or appoint an officer of the corporation, utilizing such companies as
www.hasslefreeprocess.com

The company is licensed by the California Department of Corporations:

Active License
Licensed: Jul 17 2002 (Lender/Broker)
6038508 - California Finance Lender
BRIDGE CAPITAL CORPORATION
26691 PLAZA DRIVE, SUITE 170
MISSION VIEJO, CA 92691
(800) 617-3476

And may be affiliated with Bridge Capital Corporation located in Foothill Ranch, California. E-mails and telephone calls to Mike Ahmari, who on one fax is listed as president and CEO of Bridge Capital Corporation in Foothill Ranch, California, were not returned.

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120 Days to add NorVergence to Missouri Law Suit

Popular Leasing has asked the St. Louis Circuit Court to reconsider its ruling requiring that NorVergence be added as a defendant or to give it another two months to add NorVergence, according to Ronald J. Eisenberg of Schultz & Little L.L.P., Chesterfield, Missouri. His firm represents from 35 to 40 NorVergence lessees.

A three-judge panel in St. Louis County Circuit Court, Missouri, has ordered the addition of a bankrupt telecommunications company in New Jersey to more than $30 million “cost to lessor “ contract disputes.

Over 100 pending breach-of contract suits involving Norvergence leases were purchased by Popular Leasing USA of Baldwin, Missouri, a subsidiary of Banco Popular North America (BPNA.) They claim the lease payments should continue to be made. It appears a business decision to obtain as many “default judgments” as possible to help cover the write-offs from the losses they will sustain.

The defendants have many issues, stating NorVergence should also be named in the legal dispute, as the contracts are fraudulent. Missouri law in different than other states and several provisions have given the attorneys encouragement, while the latest ruling they consider a “set back.”

“The effect of a court order adding NorVergence on the industry of "buying and selling of contracts would be devastating," Popular Leasing USA Attorney Randal Scherck said in his original arguments, according to the St. Louis Post-Dispatch. " It sets a dangerous precedent."

The original ruling gives Popular Leasing USA 60 days to comply, and the reconsideration will add another 60 days, so whether the ruling is reconsidered or not, it will give them 120 days to add NorVergence to their lawsuit.

Popular Leasing's motion for reconsideration will be heard April 29.

[headlines]

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New Classified Section---Legal Expert

This is a section suggested by our new leasing news advisor Steve Gabriel. It is aimed at those who seek advice for legal matters regarding the procedures and practices in equipment leasing.

The pricing will be the same as “help wanted” classified ads.
Any comments or questions regarding this new section will be welcome.

http://216.66.242.252/AL/LeasingNews/LegalExpert.htm
http://216.66.242.252/AL/LeasingNews/PostinLegalExpert.asp

[headlines]

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(We are very casual in California. I thought readers might enjoy seeing a picture of my new office. Editor)

[headlines]

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Alexa Ranks Leasing Association Web Sites

Rank
4/19/2005
3/21/2005
 
WEBSITE NAME
1.
77,058
79,092
www.aba.com American Bankers Association
2.
115,007
108,393
www.leasingnews.org  Leasing News
3.
337,953
535,174
  www.naelb.org  National Assoc. of Equip Leasing Brokers
4.
389,151
389,511
  www.monitordaily.com Monitor Daily
5.
418,670
506,557
  www.elaonline.com Equipment Leasing Association
6.
545,555
500,358
  www.ibaa.org Ind Community Bankers of America
7.
599,262
585,172
  www.cfa.com  Commercial Finance Association
8.
939,783
772,839
  www.uael.org  United Association of Equipment Leasing
9.
953,113
847,648
  www.us-banker.com  U.S.Banker
10.
1,319,810
1,062,977
  www.executivecaliber.ws  Exec Caliber-Jeffrey Taylor
11.
1,431,537
1,207,797
www.leasefoundation.org Equip. Leasing & Fin Fndn
12.
1,692,667
1,958,962
  www.iicl.org  Institute of International Container Lessors
13.
1,940,846
1,854,004
  www.eael.org Eastern Association of Equipment Leasing
14.
2,021,644
1,932,020
  www.nationalfunding.org The National Funding Assoc
15.
2,118,465
989,795
  www.lessors.com  eLessors Networking Association
16.
2,951,492
4,964,164
  www.Leasingpress.com Leasing Press
17.
3,765,301
2,836,401
  www.clpfoundation.org   CLP Foundation
18.
4,748,743
4,546,459
  www.leasecollect.org Lean -Lease Enforcement Att Net
19.
No Data
5,296,613
  www.efj.com Equipment Financial Journa
20.
No Data
No Data
  www.mael.org Mid-America Association of  Equip Lessors
21.
No Data
No Data
  www.leaseassistant.org Lease Assistant
22.
No Data
No Data
  www.aglf.org  Assoc of Government Leasing  Financing

[headlines]

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[headlines]

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Leasing Association Conferences—Spring

 

April 21-24, 2005

Spring Leadership Conference
Doubletree Paradise Valley Resort
Scottsdale, Arizona
Chairman: Steve Reid - Pacific Capital Bank

Content:
- Great Educational Sessions and Roundtables
- Strong Speakers
- McCormick's Ranch Golf
- Arizona Diamondbacks Game

SPECIAL SPOUSE EVENT:
Friday 10:30 am - 2:00 pm
Interactive cooking Class/Lunch and Wine Tasting with the Chef at Sur La Table. Shopping, to follow your luncheon outing!

Crab Cakes with Chili Lime Dressing
Grilled Spice Rubbed Pork Tenderloin with Spicy Mango Corn Salsa
Potatoes Gratin Dauphinoise
Warm Chocolate Molten Cake with Raspberry Coulis

Saturday 2:00 pm - 5:00 pm
Join us for the Texas Hold'em Card Tournament
$75.00 Entry Fee. $1000.00 to the winner!
(Special championship bracelet to the winner. Male or Female.)

---------------------------------------------------------------

May 4-6,2005

Loews Miami Beach Hotel
South Beach, Miami, Florida

for more information, please go here:
http://leasingnews.org/PDF/25AM05_springpgm.pdf

---------------------------------------------------------------

May 12-15,2005

Hyatt Regency Union Station
St. Louis, Missouri


Claude Elmore—Conference Chairman
Netbank Business Finance

Conference information:
http://www.naelb.org/associations/2004/files/
NAELB05%20Reg%20Brochure%20FINAL.pdf

Registration Form:
http://www.naelb.org/displayconvregister.cfm?convnbr=1588

[headlines]

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Small Businesses Get New Tool to Assess Risk of Fraud

AccountingWEB.com

Business owners with limited money to hire anti-fraud professionals now can see for themselves whether their company is vulnerable to insider fraud.

Larry Cook, president of CVA Solutions Inc. of Lenexa, Kan., developed the Internal Fraud Vulnerability Assessment Tool, or IFVAT, for auditors to assess internal control weaknesses as part of the new requirements of the Sarbanes-Oxley Act. He later decided, however, to make it available to any organization on the Internet at an affordable price.

“It makes sense that the IFVAT will have a greater impact if it is widely available to small and medium-sized organizations,” he said in a statement. “Any employee who is familiar with an organization's accounting controls can use this tool very effectively.”

IFVAT uses a standard risk assessment methodology to determine the how likely it is that fraud can occur, the risk to the organization's assets and the effect of the loss on the organization. Cook, a certified fraud examiner, believes the cost of fraud cannot be measured only in dollars - damage can be irreparable to the organization's reputation and employee morale.

The assessment tool uses more than 300 questions and measures risk in a dozen of the most common internal fraud schemes, which include skimming, check tampering, inventory and equipment theft, proprietary information theft, corruption and financial statement fraud.

While CVA Solutions Inc. contends that IFVAT is easy to understand and use, fraud professionals can be called in to help the business create fraud prevention and detection programs.

[headlines]

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Classified—Help Wanted

Account Representatives & Sales Coaches


Account Representatives & Sales Coaches are needed in Nashville, TN & Austin, TX locations with exp. in finance and sales with a successful track record of sales leasing.  Positions are available for remote Account Executives with 8+ yrs Equipment Leasing Sales exp. Work directly with CFOs, CIOs, CEOs and other high-level executives.  Please send resume indicating position of interest and location: US_DFS_Staffing@dell.com.

About the Company:  
At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow.  We're the exclusive provider of leasing and finance services for Dell technology systems worldwide.

www.dellfinancialservices.com

Asset Management


Asset Management:
Long Island City, NY
seeking an experienced off lease and repossession manager. Successful candidates should have prior experience. Email resume to ekaye@advantagefunding.us or fax to 718 392 5427.

About the Company: Advantage Funding is a leading commercial and consumer vehicle and equipment financing and leasing company, Long Island City, NY.

www.advantagefund.com

Collection Attorney


Collection attorney - three to five years experience, creditor rights and bankruptcy experience is a must - contact: cgates@spiwakandiezza.com

Spiwak & Iezza, LLP, Westlake Village, Ca. is an extremely aggressive collection law firm that believes in taking action against debtors quickly and pushing through to final resolution without delay.
http://www.spiwakandiezza.com/about.htm

Finance Administrator


Export Finance Administrator for cross-border equipment deals. Seeking someone with existing strong credit, administrative, and people skills whom we can train in our specialized international credit services. Fluent English and Spanish required. To learn more and apply, click here .

Meridian Finance Group provides credit, insurance, and financial services that help U.S. exporters to increase their international sales.

www.meridianfinance.com

Marketing Officer



Marketing Officer, generate/maintain relationships w/equip. leasing companies nationwide. Heavy phone/moderate travel. Ability to read/understand FS/tax returns required. Indirect marketing exp. necessary plus computer skills. Bachelor's degree.
Email resume to sgreen@bankofthewest.com
Website: www.bankofthewest.com

Bank of the West and its subsidiaries are equal opportunity/affirmative action employers. It is our policy to recruit, advertise, employ, promote, transfer, discipline, and discharge without regard to race, religion, color, national origin, ancestry, age, physical or mental disability, medical condition, veteran status, sexual orientation, sex, marital status, or any other protected status.

Middle Market Sales Representative



Middle Market Sales Rep.: exp. sales reps throughout country for middle market leasing/financing. Must have min.5-years exp. in "hard assets" ranging from 100K -$1.0MM generated from vendor and /or direct sources. Excel. benefits, base salary and commission program. Resumes to amandell@eqcorp.com .

About the Company: A rapidly expanding Middle Market Leasing / Finance Company located in CT. Equilease Financial Services, Inc

Sales / Sales Representative


Sales:
seeking energetic, exper; sales prof/ work Newport Beach CA & Deerfield IL Vendor Services Division offices/middle to large ticket resellers/orig. equip. mfg. Requirement/Apply click here

About the Company : CG Commercial Funding is a rapidly growing industry leader in middle/large ticket lease finance.

www.cgcommercial.com

 


RCA Capital Corp. Fair Lawn NJ seeks exp. sales rep.w $5 million annual middle market business. A great opportunity to grow with an established reputable independent. Competitive comp. plan w gd benefits/401k. Contact: Mike Pandolfelli, CEO mbp@rcacapital.com

RCA is a privately held nationwide equipment leasing and finance company. Its primary focus is in the printing, packaging, corrugated and label industries. RCA is seeking to diversify and expand its customer base through industries such as transportation, machine tools, plastics, medical, etc.

 


Baltimore/Washington based Sales Rep. - To develop vendor & lessee direct originations. Requires 3+ yrs commercial sales exp. For full description and application, click here for more information.

Madison Capital, a Baltimore based equipment and vehicle leasing company for 30 years is a national provider of direct financing services for both vendors and lessees. www.madisoncapital.com

 

Sales Representatives:
Well-established leasing company seeks veteran sales professionals in the small and middle ticket equipment marketplace. Stay where you are and share in the profit of each deal you book with ACC. Fax resume: 801-733-2358.

About the Company: ACC (ACC Capital Corporation) is a diversified middle-market financial services company that specializes in structuring, origination, servicing and syndication of a broad array of lease products.

www.acccapital.com

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World Leasing Yearbook 2005

ISBN:184374 142 3
Pages: 524
Edition: 26th
Directory Contacts: 4,400 Companies

Price: $250.00

The only annually-updated international reference book for the asset financing and leasing industry available. The new 26th edition includes the latest market trends, over 100 authoritative articles and reports on the leasing software and IT market, an exclusive ranking of the top 50 leasing markets by size worldwide with feature profiles from Africa to Venezuela PLUS a directory of over 4,400 companies.

To order call +44 (0) 20 7779 8999 or toll free in the US +1 800 437 9997 to receive your 10% discount. You can also order on line at
http://www.euromoney-yearbooks.com

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

Insight Into Islamic Finance and the Impact Shari'a Law
Plays on the Financial Sector

DUBLIN, Ireland, / -- Research and Markets announced the addition of Islamic Finance - Innovation and Growth to their offering.

Islamic Finance - Innovation and Growth will enable you to take advantage of the opportunities presented by one of the most rapidly growing but least understood areas of international finance. The book's 16 detailed chapters comprise an examination Islamic finance, its role in the global financial system, an overview of the legal and accounting framework for Islamic participants and the specific practicalities of structuring successful financing in accordance with Shari'a law.

The book examines Islamic finance and Shari'a compliant structures in the retail and private banking sector; trade and commodity finance; project finance; leasing and property finance; corporate finance; and risk management and concludes with a discussion of challenges the sector faces and how these might be addressed.

This is the most comprehensive and practical guide to Islamic finance available and is indispensable reading for anyone seeking to benefit from its innovation and growth.

Published in association with Al Rajahi Banking and Investment Corp, Al Tafweek Company for Investment Funds Ltd, Dubai Islamic Bank, First Islamic Investment Bank EC and Gulf Finance House.

Contents contained in this book include the following:

Part I:

Fundamentals of Islamic finance and the development of Islamic financial institutions
2 The religious foundations of Islamic finance Yusuf Talal DeLorenzo
3 The evolution of the Islamic financial system Professor Rodney Wilson
4 The development of Islamic financial institutions and future challenges Zamir Iqbal and Abbas Mirakhor

Part II: Corporate governance, regulatory, legal and accounting issues
5 Regulatory issues in Islamic finance
6 Legal aspects of Islamic finance 90 Mahmoud Fadeel
7 Accounting issues for Islamic banks Taha Eltayeb Ahmed Part III: Financial services and investment funds
8 Retail and private client services Stella Cox
9 Project finance Syed Tariq Husain
10 Islamic equity investment Mohamed A Elgari

Part IV: Liquidity and risk management
11 Liquidity management and trade financing Youssef Shaheed Maroun
12 Risk management in Islamic banks Dr Kenneth Baldwin For more information visit
http://www.researchandmarkets.com/reports/c15956

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.com
Fax: +353 1 4100 980

[headlines]

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

U.S. Bancorp Reports Record Net Income for the First Quarter of 2005

“The decline in commercial products revenue (15.1 percent) was driven by lower loan syndication fees and leasing revenue....Net charge-offs of $3 million in the first quarter of 2005, compared with net recoveries of $8 million in the fourth quarter of 2004, drove the unfavorable variance in the provision for credit losses from the prior quarter.”

U.S. Bancorp (NYSE:USB) reported net income of $1,071 million for the first quarter of 2005, compared with $1,008 million for the first quarter of 2004. Net income of $.57 per diluted share in the first quarter of 2005 was higher than the same period of 2004 by $.05 (9.6 percent). Return on average assets and return on average equity were 2.21 percent and 21.9 percent, respectively, for the first quarter of 2005, compared with returns of 2.14 percent and 20.7 percent, respectively, for the first quarter of 2004.

U.S. Bancorp Chairman and Chief Executive Officer Jerry A. Grundhofer said, "Once again, I am pleased to announce record earnings for the first quarter of 2005, along with industry-leading returns on equity and assets. In addition, we returned 108 percent of earnings to our shareholders during the quarter in the form of dividends and share repurchases. Growth in our fee-based businesses, as well as continued improvement in credit quality, were the primary drivers of the Company's earnings' growth year-over-year. Fee revenue, excluding the impact of securities losses, grew by over 9 percent, with the payment services categories increasing over 15 percent, driven primarily by investments in the businesses and improvements in the economy. Deposit service charges increased by over 13 percent, driven primarily by increases in net new checking accounts. Commercial loan growth gained momentum as the quarter progressed, with period-end commercial loan outstandings increasing an annualized 16.1 percent from December 31, 2004. As we enter the second quarter, historically our strongest in producing linked-quarter revenue growth, we expect to achieve our target of 10 percent earnings per share growth for the full year 2005.

"Although average commercial loan balances continued to show encouraging trends this quarter, growing 7.3 percent year-over-year and at an annualized rate of 8.4 percent over the fourth quarter of 2004, loan pricing remains competitive. Tighter credit spreads accounted for 6 of the 12 basis points drop in our net interest margin between the fourth quarter of 2004 and the current quarter. We will continue to compete aggressively on loan pricing, but will remain disciplined on credit structure. Our low-cost position in the industry and extensive fee-based product and service offerings that can be used to penetrate commercial relationships, give us pricing advantages over our competitors. We are confident that this approach to the market will allow us to best capitalize on the strengths of our franchise.

"As many already know, customer service has been, and continues to be, an important focus in this Company. Customer service is our brand and we believe it distinguishes us from our competition. We have been measuring the results of our efforts for just over three years, and I am pleased to report that we have significantly increased the number of retail customers that we define as loyal customers based on their satisfaction with our service, the likelihood that they will remain with the Company and the likelihood that they will recommend U.S. Bank to their friends and relatives.

"Looking ahead, we will continue to enhance this great franchise through growth initiatives designed specifically to increase our market penetration, introduce new products and services and expand our market presence, all the while remaining focused on providing great customer service and improving customer loyalty.

"Finally, I want to thank all 51,000 of our employees for their hard work and dedication, and would like to recognize the nearly 24,000 employees that have been with our Company for five years or longer. We took time this past month to honor these employees for their contributions, as we believe that loyal and experienced employees provide the type of service that attracts and retains loyal customers."

The Company's results for the first quarter of 2005 improved over the same period of 2004, as net income rose by $63 million (6.3 percent), primarily due to lower credit costs and growth in fee-based products and services. During the first quarter of 2005, the Company recognized a $54 million reparation of its mortgage servicing rights ("MSR") asset, reflecting rising longer-term interest rates in 2005, compared with the recognition of $109 million of MSR impairment in the first quarter of 2004. The yield on both 10-year Treasury Notes and 30-year Fannie Mae commitments increased approximately 26 to 34 basis points. The Company sold certain investment securities during the first quarter of 2005, resulting in net securities losses of $59 million. The Company realized no securities gains or losses in the first quarter of 2004. Also included in the first quarter of 2004 results was a $35 million expense charge related to the prepayment of certain debt and a $90 million reduction in income tax expense related to the resolution of federal tax examinations.

Total net revenue on a taxable-equivalent basis for the first quarter of 2005 was $36 million (1.2 percent) higher than the first quarter of 2004, primarily reflecting 9.3 percent growth in fee-based revenue across the majority of fee categories. The expansion of the Company's merchant acquiring business in Europe accounted for approximately 1.9 percent of the change in fee-based revenue year-over-year. Fee based revenue growth was offset somewhat by the unfavorable variances in securities gains (losses) and net interest income.

Full Press Release at:
http://phx.corporate-ir.net/phoenix.zhtml?c=117565&p=irol-news
Article&ID=697499&highlight
=

[headlines]

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

GATX Air Announces Formation of Aircraft Joint Venture

CHICAGO--GATX Air announced the formation of Alster & Thames Partners Ltd., a new aircraft investment joint venture between GATX Air and HSH Nordbank AG. The initial assets of the joint venture are approximately $125 million of commercial jet aircraft acquired in the secondary market by GATX Air in 2004. GATX Air also will provide management services to the joint venture, including aircraft purchase, leasing, lessee account administration and disposition services.

Alan C. Coe, president of GATX Air, said "HSH is an important player in transportation finance and GATX is pleased to be co-investing with such a knowledgeable partner. Managing this joint venture continues GATX's strategy of leveraging our asset expertise by managing assets for partners. We look forward to additional opportunities to expand our management platforms."

At December 31, 2004, GATX Air had ownership interests in 163 aircraft and managed an additional 66 aircraft for other third-party investors. This fleet of owned and managed aircraft is operated by over 60 airlines located in countries worldwide.

COMPANY DESCRIPTIONS

GATX Air is a division of GATX Financial Corporation, a wholly owned subsidiary of GATX Corporation (NYSE:GMT). GATX is a specialized leasing company combining asset knowledge and services, structuring expertise, partnering, and capital to provide business solutions to customers and partners worldwide. GATX specializes operating leasing of railcar, locomotive, aircraft, marine vessel and other targeted assets.

HSH Nordbank AG was established in Germany following the merger of Hamburgische Landesbank and Landesbank Schleswig-Holstein (LB Kiel) in 2003. HSH Nordbank is active in many areas, including transportation finance covering the entire transportation chain of aviation, rail and logistics/infrastructure. The aviation segment is comprised of a portfolio of approximately 4.5 billion Euros of loans to airlines worldwide, financing more than 600 aircraft.

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

CONTACT: GATX Corporation
Rhonda S. Johnson (Investor Relations), 312-621-6262
SOURCE: GATX Corporation

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

TIP Promotes Peters and Baker

TIP Capital, Auburn Hills, Michigan, announces promotions of two key team members. Geoff Peters, is promoted to Vice President of Syndications, responsible for funding TIP Capital's leases with its various funding partners; and Christine Baker is appointed Vice President of Operations, responsible for the documentation processes for TIP Capital's transactions with its customers and funding partners.

TIP Capital is an independent financing company that was formed in January 1999 by former executives of AT&T Capital Corporation to engage in the sale, lease financing and remarketing of technology equipment and provide business solutions its end-user customers and business partners.

Regardless of market or industry, TIP Capital originates new lease transactions, performs remarketing services, buys and sells equipment in both the retail and wholesale markets, and acquires portfolios of existing equipment lease transactions for investment. Through our joint venture with tip | Interactive, we also provide clients with a wide range of Web-based and e-commerce business solutions.

Management Team:
http://www.tipcapital.com/default.aspx?tabid=53
www.tipcapital.com

CONTACT:
Jamie Militello
TIP Capital
Phone Number: 248-484-2814
Fax Number: 248-484-2801
E-mail: jmilitello@tipcapital.com

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

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News Briefs---

Industry Giant Falling Behind: GM Reports $1.1 Billion Loss
http://www.washingtonpost.com/wp-dyn/articles/A2396-2005Apr19.html

Housing Starts Fade After Busy February
http://www.washingtonpost.com/wp-dyn/articles/A2397-2005Apr19.html

Dollar Slips to 1-Month Low Versus Euro
http://www.washingtonpost.com/wp-dyn/articles/A3435-2005Apr20.html

Intel Profit Up Sharply on Demand for Chips
http://www.nytimes.com/2005/04/20/business/businessspecial3/
20intel.html
?

Yahoo's First-Quarter Profit Doubles
http://www.washingtonpost.com/wp-dyn/articles/A2826-2005Apr19.html

Bush to sign rewrite of bankruptcy code
http://hosted.ap.org/dynamic/stories/B/BUSH_BANKRUPTCY?SITE=
CADIU&SECTION=HOME&TEMPLATE=DEFAULT

As a Ratings Edge Narrows, NBC Fires Its 'Today' Producer
http://www.nytimes.com/2005/04/20/business/media/
20today.html?pagewanted=all

Wynn offers inside look at new resort
http://www.lasvegassun.com/drudged/518626651.html

Mint to make coin with higher gold content
http://www.ajc.com/business/content/news/stories/0405/19goldcoin.html?
UrAuth=%60N]NUOaNTUbTTUWUXUTUZT[U_UWU^UVUZUcU\UcTYWYWZV

What I learned from golfing in China
http://www.usatoday.com/money/industries/technology/maney/
2005-04-19-golfing_x.htm

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Sports Briefs ---

Al Davis Ordered to “open the financial books”
http://www.mercurynews.com/mld/mercurynews/11422807.htm

The Brain in Sports
http://www.mercurynews.com/mld/mercurynews/sports/football/
nfl/san_francisco_49ers/11431193.htm

2005 NFL Draft Headlines
http://www.theredzone.org/2005/draft/headlines.asp

Fitch: Newly Announced NFL TV Contracts Reflect League's Strengths
http://www.fitchratings.com/corporate/events/
press_releases_detail.cfm?pr_id=155721

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California Nuts Brief---

Schwarzenegger talks tough on illegal immigration
http://www.signonsandiego.com/news/state/20050419-1927-ca-schwarzenegger-mediaexecutives.html

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“Gimme that Wine”

Not the Same Old, Same Old Nouveau
http://www.nytimes.com/2005/04/20/dining/20wine.html?pagewanted=all

100 Women In Wine" Book Set For Publication
http://www.100womeninwine.com/

Farmers statewide say goodbye Chenin Blanc, hello Pinot Grigio
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/04/14/WIGH8C77KH1.DTL

The S.F. Chronicle's Wine Selections: Kosher Wines
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/
2005/04/14/WIGSJC5C961.DTL

Germany's warmest year since 1540 creates historic wines
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/
2005/03/31/WIG2MC0CER1.DTL

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Your One stop solution for training and reference material for the Leasing Professional


Visit our website by clickng on the logo above

122-A Foothill Blvd., Arcadia, CA. 91006
Voice 626-305-1053 . Fax 626-305-0019 .
ted@cclease.com

This Day in American History

    1534 - French explorer Jacques Cartier set sail from St. Malo to explore the North American coastline.
    1657-Asser Levy of New Amsterdam ( later New York City ) was admitted as a town citizen. Jews were denied the privilege of standing guard and keeping watch, compulsory for all citizens, Asser Levy and Jacob Barsimson objected to the discrimination, after being denied, Levy appealed. He became a prosperous trader, the first Jew to own land in America, and the first to serve on a jury ( in 1671, after the colony had been taken over by the English.
    1718- Birth of David Brainerd, colonial American missionary to the Indians of New England. Following his premature death from tuberculosis at 29, Brainerd's journal (published in 1649 by the Jonathan Edwards) influenced hundreds to become missionaries after him.
    1799-- Napoleon issues a decree calling for establishing Jerusalem for Jews
    1832 - Hot Springs National Park, the first national park in the United States, was established by an act of Congress. It had been a reservation prior to becoming a national park.
    1836 - The United States Congress separated the western part of Michigan Territory and formed a new territory to be known as Wisconsin.
    1841 - "The Murders in the Rue Morgue," Edgar Allen Poe's first detective story, was published. The story featured C. Auguste Dupin, the first-ever fictional detective. Poe considered his work an example of ratiocination - the process of logical and methodical reasoning.
    1850-birth of American sculptor of Daniel Chester French at Exeter, NH. One of the most important artists of the 19th and early 20th centuries as a sculptor of public monuments, French is best known for his 1875 “Minute Man” statue at Concord, MA, and his 1922 statue of the seated Abraham Lincoln in the Lincoln Memorial at Washington, DC
http://memory.loc.gov/ammem/today/apr20.html
1853-Harriet Tubman starts Underground Railroad.
http://www.americaslibrary.gov/cgi-bin/page.cgi/aa/tubman
http://www.nyhistory.com/harriettubman/life.htm
    1865 - Safety matches advertised for the first time.
    1880 - Sacramento, California had its heaviest 24 hour rainfall when 7.24 inches fell.
    1908 – Vibraharp/Bank Leader Lionel Hampton birthday
    1901 - a spring snowstorm dumped very heavy snow over northeastern Ohio. Warren was buried under 35.5 inches in 36 hours and 28 inches fell at Green Hill. Akron established April snowfall records with 15.6 inches in 24 hours and 26.6 inches for the month.
1912 After two days of rain, the first game ever is finally played at Fenway Park with a comeback eleven-inning Red Sox win over the New York Highlanders, 7-6.
    1916--In Chicago, the Cubs play their first game at Weeghman Park beating the Reds in 11 innings, 7-6. The ballpark will be renamed Wrigley Field in 1926.
    1923-Birthday of Tito Puente, The King of the Mambo—or “El Rey” ---was born Ernesto Antonia Puente, Jr. at Spanish Harlem, New York City, to Puerto Rican parents The legendary Puente had a career that spanned more than six decades, starting in 1937. He popularized the timbale, but played many percussion instruments and was also a composer, arranger and bandleader. His album Dance Mania (1948) was an international bestseller, and he released more than 100 albums. His song “Oye Corno Va” was covered by Carlos Santana and has become a classic. Puente won five Grammys, was inducted into the Jazz and Hispanic halls of fame and received a Smithsonian Lifetime achievement Award. President Jimmy Carter pronounced him “The Goodwill Ambassador of Latin American Music. “ Puente died on May 31, 2000,at New York, NY.
    1931 - On Okeh Records, Louis Armstrong recorded, "When It's Sleepy Time Down South", which would be his theme song for decades. The song was recorded in Chicago, Illinois.
    1934 - Child actress Shirley Temple's first major movie, Stand Up and Cheer, was released to New York theaters on this date. It was the beginning of the most-successful child actor's career in the history of Hollywood.
    1939-Ted Williams made his major league debut for the Boston Red Sox, getting one double in four at-bats, as the Sox lost to the New York Yankees, 2-0.
    1939—Billie Holiday records Strange Fruit.
    1939--- New York World's Fair opens
    1939-country-pop singer Johnny Tillotson was born in Jacksonville, Florida. Between 1958 and 1965, he had more than 25 records on Billboard magazine's Hot 100 chart, including "Poetry in Motion," "Without You" and "Talk Back Trembling Lips."
    1939-Birthday of Katherine V. Forrest - U.S. novelist and editor whose erotic lesbian novel Curious Wine has sold more copies than any lesbian-centered novel since Well of Loneliness. She crossed over to mainstream novels using some lesbian characters, especially a mystery series that features a Los Angeles detective. The detective series is strong on technical police work.
    1945 --Soviet troops enter Berlin
    1945 ---US 7th Army & allies forces capture Nuremberg & Stuttgart in Germany
    1948 --: Labor leader Walter Reuther is shot and seriously wounded by would-be assassins. Reuther was previously victim of an attempted abduction in April 1938. His brother Victor was shot & nearly at his home by police in 1949. In 1949 the UAW's headquarters in Detroit was bombed .He later died in a plane crash in 1970 (of the media reports apparently only one paper addressed the possibility that he may have been murdered; In October 1968, both Walter and his brother Victor were almost killed in a small private plane near Dulles Airport).
http://www.is.wayne.edu/mnissani/media/reuther.htm
    1950---Top Hits
If I Knew You Were Comin' I'd've Baked a Cake - Eileen Barton
Music, Music, Music - Teresa Brewer
Peter Cottontail - Gene Autry
Long Gone Lonesome Blues - Hank Williams
    1951-Birthday of singer Luther Vandross.
    1958---Top Hits
He's Got the Whole World (In His Hands) - Laurie London
Book of Love - The Monotones
Don't You Just Know It - Huey (Piano) Smith & The Clowns
Oh Lonesome Me - Don Gibson
    1959 - CBS-TV's "Desilu Playhouse" presented a two-part show titled, "The Untouchables" starring Robert Stack. When the program became a weekly show in 1959, Stack became a star.
    1959- 13-year-old Dolly Parton released her first single, "Puppy Love."
    1960 -- Elvis Presley's return to Hollywood to film "G.I. Blues" is greeted by tremendous fanfare. Of course, it's the top story on the nightly news & even makes page one of the local newspapers.
    1961 - The Federal Communications Commission (FCC) approved FM stereo broadcasting, but it would be another five or six years before FM stations went ‘underground' to attract listeners tired of poor audio quality on AM stations. Until then, FM stations broadcast in monaural sound.
    1963 - The movie soundtrack album of West Side Story hit Number 1 on the pop LP chart and stayed there for 2 weeks.
    1966---Top Hits
The Ballad of the Green Berets - SSgt Barry Sadler
(You're My) Soul and Inspiration - The Righteous Brothers
Daydream - The Lovin' Spoonful
I Want to Go with You - Eddy Arnold
    1968-- Pierre Elliott Trudeau sworn-in as Canada's PM
    1969 - Ken Harrelson almost quit major-league baseball when he found out he was being traded from the Boston Red Sox, an American League contender, to the Cleveland Indians, a perennial American League non-contender. He stayed for money, and played for Cleveland after all.
1971: The U.S. Supreme Court upheld the use of busing to achieve racial desegregation in schools.
    1971-- Barbra Streisand records "We've Only Just Begun"
    1974---Top Hits
TSOP (The Sound of Philadelphia) - MFSB featuring The Three Degrees
Best Thing that Ever Happened to Me - Gladys Knight & The Pips
The Loco-Motion - Grand Funk
A Very Special Love Song - Charlie Rich
    1979 - It was reported Johnny Carson was leaving "The Tonight Show". Newspapers in the United States offered ideas why the comedian and late-night host was unhappy after 17 years on the show. More money, more vacation time and a four-day week (he got Mondays off) was just what ‘The Great Carsoni' need to stay at NBC for another 12 years.
    1982---Top Hits
I Love Rock 'N Roll - Joan Jett & The Blackhearts
We Got the Beat - Go-Go's
Chariots of Fire - Titles - Vangelis
The Clown - Conway Twitty
    1982-- With a 4-2 win over the Reds, the Braves record their 12th consecutive victory to establish a major-league record for the most victories from the beginning of the season. The previous mark had been set a year earlier by the Oakland A's.
    1983 --President Ronald Reagan signs a $165 billion bail-out for Social Security
    1984 --a temperature of 106 degrees in Del Rio, Texas set a new record high for April.
    1986 - Michael Jordan of the Chicago Bulls scored a record 63 points in the NBA Playoffs against the Boston Celtics. This NBA Playoffs record included two overtime periods.
    1986 - Pianist Vladimir Horowitz gave his first concert in the Soviet Union for 61 years. He had emigrated in 1925.
    1987 - "Starlight Express", the roller-skating musical, posted the largest week's gross in the history of Broadway, earning $606,081 at the box office. The revival of "The King and I" starring Yul Brynner was the old record holder in 1985.
    1987- In Columbus, OH, the Evangelical Lutheran Church in America (ELCA) was organized, making it the largest Lutheran denomination in the U.S. It represented the merger of three smaller Lutheran bodies, and was officially born on Jan 1, 1988.
    1988,--Helen Thayer, New Zealand-born American reaches the North Pole on foot and on skis with no mechanical assists. Using a rope attached to her belt, she pulled a sled which held her tent and all her food (and her dog's food). Her sole companion was a husky who would warn her when polar bears were approaching. (The big bears are absolutely silent when they attack.) Temperatures in storms dropped to minus 100 degrees. The 345-mile, 27-day journey marked the first time a woman had reached the North Pole alone. Thayer, a mountain climber and U.S. Luge Champion in 1975, was 50 years old at the time. In 1990 she would serve as the leader of the first International U.S./Soviet Arctic Women's expedition. The website at http://www.goals.com/thayer/expfrm.htm
that explains the arctic trip in detail.
    1988 Claudell Washington hits the 10,000th home run in Yankee history.
    1990---Top Hits
I'll Be Your Everything - Tommy Page
Don't Wanna Fall in Love - Jane Child
Nothing Compares 2 U - Sinead O'Connor
Five Minutes - Lorrie Morgan
    1992-- 100th episode of "Murphy Brown" airs
    1996- In a case that sparked an uproar reminiscent of the Rodney King case in Los Angeles, two Riverside County, Calif., sheriff's deputies were videotaped repeatedly clubbing a Mexican man and woman after a 70-mile highway chase involving a pickup truck suspected of sneaking across the border.
1997 Mark McGwire becomes the fourth major leaguer to hit a home run over the left field roof at Tiger Stadium. The A's first baseman joins Harmon Killebrew (1962), Frank Howard (1968), and Cecil Fielder (1990) as the only players to accomplish the feat.
    1999- at this high school at Littleton, CO, students Eric Harris and Dylan Klebold killed 12 other students, a teacher and then themselves.

Stanley Cup Champions This Date

    1958 Montréal Canadiens

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Baseball Poem

Stolen Butter

Chooga-Chooga-Chooga-Chooga-Chooga-Chooga
Shiny steel tracks and dusty coal stacks
The line of the 9:30 train,
Bound for the great big town,
Pounds and pounds
On the flat farm ground,
Traveling all around
From the wet Northwest,
Home of farmboys and cold rain,
To the educated East
And then right back again.
In the dining car,
Full of fur and fun and overweight nuns,
Our set scene unfolds over the tea:
The waiter turns left and right
And then who does he see?

The ghost of a boy with a bullet in his belly
Now that's a tummy-ache!

Ladies and Gentlemen,
Here's one for the books!
Let's guess this boy's destination
By his height and looks:
Tall and tan of skin,
More of a man than a boy
And with a smile women surely do enjoy.
He's got brown eyes and strength to spare
Look at those white teeth and chestnut hair!
He's got calluses on his young hands
And he's steady where he stands
But he's no worker, I wager,
But a promising young athlete!
Where do you go, boy,
With your bag full of baseball bats and toys?
To see Orleans, with the swamps and toads?
“No.”
To visit the Colossus shining at Rhodes?
“No.”
To see hot and hilly San Francisco
Or maybe the ruin and rubble in Rome?
“No.” 7

Well!

Where is it, then,
that you want to go, Roy from Idaho?

“I'm going to the great big city of Chicago,
Where I'm going to lay the fans down low-
I'm a baseball player and the best there ever was
And no one can slam that ball like I does.”

Oh! He's a baseball player
And a home-run hitter, at that!
Well, he's quite the coming thing,
No one sit where he's sat,
He might come right back
And hit you with his bat!
Let's have a show, then, boy,
Let's see how good you really are!

“I'm the best there ever was
And I'm going to be a star.
I'd like to give you a show,
I really, really would
But I got this bullet in my gut
And I wouldn't be no good.”
“But tell you what,
I'll practice swinging
Like I was in the gym
And you can ooh and aah
At where I pretend to hit ‘em.”

The blue eyed woman sits in the corner,
And reads of pumps and Percival
But he's heard it all,
No cups or castles or fishing affairs-
Look past his lips,
Worlds you will find there.

“There's one!
And there's one!
That's a homer, right there!”

---Anonymous—poem not signed.

[headlines]

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