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Wednesday, July 3,2005 Headlines--- Classified Ads --- Sales Manager Maria C. Martinez-Wong Editor ######## surrounding the article denotes it is a “press release”
Classified Ads --- Sales Manager Atlanta, GA Chicago, IL. Chicago, IL Dallas/Fort Worth, TX. New York, NY Pennsauken, NJ. Portland, OR. Scottsdale, AZ For a full listing of all “job wanted” ads, please go to: http://64.125.68.91/AL/LeasingNews/JobPostings.htm To place a free “job wanted” ad, please go to: http://64.125.68.91/AL/LeasingNews/PostingForm.asp ---------------------------------------------------------------- Super Brokers' List A -Requires Broker be Licensed | B -Sub-Broker Program | C -Warehouse Line | D -Also a Lessor
(A) BSB Leasing, Inc has been providing syndication services for brokers nationwide since 1982 and have been funding business directly since 2002 through BSB Direct Finance, LLC. We offer Brokers a complete internet solution for credit submission and tracking and document preparation. --------------------------------------------- These companies basically function as a "broker," meaning most of their transactions are sent to other leasing companies or funders.They are not “lessors” or “funders.” An additional description: the majority of their business comes from others, who are acting as a broker. These “deals” may come from an independent, a “company,” or even a “lessor” or “funder.” Brokers come to them because they may not have the "volume" for the source the "super broker" may have; they may be "too new" in business to qualify for many sources: they may be looking for a better rate than their regular sources, or the transaction was originated by another broker and they need to acknowledge that the transaction comes from another broker, called "sub broker," in the trade (most funders will not accept business from that has been “re-brokered.” .” As important, the sender may not have a regular source for the specific transaction they want to place, such as a young privately held company wanted the lease as “corporate only.” The transactions may come from a lessor that wants to satisfy their client, and they have a "minimum" that the transaction does not meet; or perhaps their client is to the maximum amount of exposure for them. For whatever reason, they come to a "super broker" to place the deal on their behalf. In the question of sub-broker business, we take for granted that the “super broker” not only has a written agreement with the sub-broker but informs the lessor when submitting an application it has come from a sub-broker. A violation of this will have the company removed from the list. This list is not does not include leasing companies who "fund" the majority of the transactions they receive. In addition to the above qualifications, the "Super Broker" must have a "clean" Better Business Bureau rating, no Leasing News Bulletin Board complaints or a poor record, and must belong to a national leasing association, as we view this that they are professional and abide by their association standards and code of ethics. We also will be verifying warehouse lines or "lessor" lines with their bankers (as done with those on the Story Credit List.) Leasing News reserves the right not to list any company it believes does not meet the qualifications as stated above. ----------------------------------------------------------------
------------------------------------------------------------- August 3rd, Costa Mesa, Ca. Broker Workshop -this is an association of companies who have "It's being held the same day as the 4th Annual Angel Game Night - Take me out to the Ball Game! Brokers can attend the workshop during the day, attend the ball game at night. Initial response has been excellent. In the past we have had anywhere from 15 to 35 brokers attend our "free lunch" but we're expecting over 100 brokers to attend this workshop. Space is limited and that's why we're encouraging reservations." Structured Leasing - That’s Where The Money Is! An Equipment Leasing Broker Workshop - August 3, 2005 The enclosed flyer provides a brief overview of the “workshop” Mesa Leasing is producing. The workshop is designed to offer brokers insight into a market niche we and other Funding sources target – C & D Credits. Several funding Sources have committed to attend the workshop and share with the brokers what is necessary to put more money in their pocket. The workshop consists of 2 specific areas of interest. First, each Funding Source is helping to sponsor this workshop. They will have a designated area where several brokers can meet and discuss the niche served by a specific lender. Brokers will learn what special areas of interest each source might have. Brokers will share in the knowledge gained by the questions asked by other brokers at the table. Brokers will come prepared with questions and a willingness to share. The second part of the workshop involves a 20 to 30 minute presentation by each funding source to those of interest. In a classroom environment, each Funding Source will present their program and educate the Brokers as to how to generate more business with them. Brokers are encouraged to come prepared to discuss specific applications they may have had turned down by other funding sources. Perhaps they may walk out with an approval turning that “turn-down” into income. This workshop will be of special interest to brokers “on the street”. They will learn what questions to ask – the first time you meet with the customer! Space is limited! Brokers are encouraged to reserve their spot- NOW! There is a small cost of $10 to the Broker. But when one considers the information obtained, and that lunch is included, this is an excellent workshop. Brokers don’t want to miss an opportunity never before available in southern California. http://leasingnews.org/PDF/CCreditFlyer1.pdf For information or reservations contact: Lauren@mesaleasing.com or Norm Malkowski ------------------------------------------------------------ August 10, 2005 UAEL PRESENTS AN EVENING OUT WITH: Colorado Rockies VS. Pittsburgh Pirates IN THE OWNER'S BOX!
WHEN: Wednesday August 10, 2005 at 7:05 PM| COMPANY EMPLOYEES ARE INVITED AS WELL AS FAMILY AND FRIENDS!! AVAILABILITY IS LIMITED – GET YOUR TICKETS NOW!! ------------------------------------------------------------- September 19-21 ELA Lease Accountants Conference "If you are planning to attend the ELA Lease Accountants Conference, scheduled for September 19-21, 2005 at the JW Marriott Hotel, New Orleans, Louisiana, complete conference details including hotel and conference registration, are now available online: http://www.elaonline.com/events/2005/leaseaccts/ The full conference agenda includes sessions that address: Doing business in a changing corporate environment: understanding the regulatory, tax and accounting impact Current & emerging developments at the FASB and how they impact lease accounting The impact of the SEC report on off-balance sheet arrangements on leasing Current status and outlook of proposed FASB standards related to off-balance sheet accounting and financial reporting for securitization implementation and interpretive questions Update on the latest developments in accounting for cross-border transactions Changes in the accounting treatment of tax benefits in leverage leases." For complete details, including registration information, please go here: http://www.elaonline.com/events/2005/leaseaccts --------------------------------------------------------------
Oct. 21-22, 2005 National Association of Equipment Brokers For more information: mwilson@hqtrs.com --------------------------------------------------------------------- November 4-5 For more information: mwilson@hqtrs.com ---------------------------------------------------------------- Classified Ads --- Help Wanted Account Executives
Lease Administrator
Lease pricing division economic analysis / analytical support
Tax Manager
###Press Release###################### CLEARLINK Reports Details of Settlement Mississauga, Ontario, CLEARLINK Capital Corporation announced that, it settled unconditionally its litigation with the City of Windsor and The County of Essex regarding the regional landfill. Under the settlement, the Corporation contributed approximately $14 million in cash and extinguished certain contractual claims it had for approximately $5 million. In addition, the majority of the dollar exposure on the equipment leasing disputes with the City of Windsor has been settled unconditionally with CLEARLINK making a $7 million payment to the City. The parties have also agreed to a further mediation and arbitration process to settle the relatively smaller claims in the remaining leases. The Corporation believes it has now achieved substantial resolution of this $300 million litigation matter, (other than the remaining leases) that had significantly impaired its business conduct over the past several years. Of further importance, this matter has been settled within the financial reserves established by the Corporation in its Fiscal 2005 financial statements. CLEARLINK Capital Corporation is a provider of innovative financial solutions in technology and equipment leasing, and equipment trading. Based in Mississauga, Ontario, CLEARLINK operates throughout North America and Europe. CLEARLINKTM is a trademark of CLEARLINK Capital Corporation. ###Press Release####################### GATX Board Elects Deborah Fretz Lead Director CHICAGO--The board of directors of GATX Corporation (NYSE:GMT) announced they have elected Deborah M. Fretz to the new position of lead director. Among her responsibilities as lead director, Ms. Fretz will serve as a formal liaison between the independent directors and senior management of the Company, chair the executive sessions of the board's independent directors, act as ex officio member of each board committee, and assist with establishing the agenda for each board meeting. Currently, eight of GATX's ten directors satisfy the independence standards of the New York Stock Exchange and the Company's standards of independence. Ms. Fretz was first elected to the board of directors of GATX in December 1993 and served as chair of the audit committee from 1999 until her election as lead director. Ms. Fretz was named President and Chief Executive Officer of Sunoco Logistics Partners, L.P., an owner and operator of refined product and crude oil pipelines and terminal facilities, in October 2001. Mr. Michael E. Murphy, director of GATX since 1990 and retired former Vice Chairman and Chief Administrative Officer of Sara Lee Corporation, was elected to succeed Ms. Fretz as chair of the audit committee. Further information on GATX's corporate governance is available on the Company's website at www.gatx.com in the investor relations section. COMPANY DESCRIPTION GATX Corporation (NYSE:GMT) provides lease financing and related services to customers operating rail, air, 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, IL 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 (Investor Relations), 312-621-6262 SOURCE: GATX Corporation ###Press Release####################### U.S. Bancorp Equipment Finance Names McBeth PORTLAND, Ore. — U.S. Bancorp Equipment Finance, Inc. has named R. Blair McBeth, Jr. executive vice president and general manager of its Capital Equipment Group. McBeth replaces Greg Mamula, who will be retiring after 14 years with U.S. Bancorp. McBeth will be based in Portland and report to Sal Maglietta, president and chief executive officer of U.S. Bancorp Equipment Finance, Inc. In his new role, McBeth will manage and lead the largest of four lines of business that comprise U.S. Bancorp Equipment Finance, which provides flexible and competitive equipment financing for middle-market and investment-grade companies across the United States. “We welcome Blair's breadth of industry knowledge and seasoned management skills, and are pleased to have attracted someone with his notable background,” said Maglietta. “At the same time I'm saddened to be losing Greg's leadership, expertise and insight. He's been a valued member of our senior management team.” McBeth has worked in the equipment leasing and finance industry for more than 26 years, most recently with ORIX Financial Services in Atlanta, where he was senior vice president and sales manager of the structured finance division. Prior to that post, he worked for ICX Corporation based in Cleveland, and as national sales manager for Citicapital Bankers Leasing in Harrison, N.Y. His experience also includes senior sales management positions with GE Capital–Phoenixcor in Norwalk, Conn. and the CIT Group, Capital Equipment Financing, Inc. in New York. A graduate of Dickinson College in Carlisle, Pa., McBeth earned his bachelor's degree in political science and went on to earn a master's degree from the American Graduate School of International Management in Phoenix. U.S. Bancorp Equipment Finance, Inc., one of the largest bank-affiliated equipment finance companies in the nation, has been providing quality equipment finance solutions for more than 30 years. It is a major funding source for companies in virtually every industry sector nationwide. U.S. Bancorp Equipment Finance, Inc. is part of U.S. Bancorp (NYSE: USB). With $204 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee in which the company pays customers if certain key banking benefits and services are not met. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com. Sites of Reference: CONTACT: ###Press Release####################### Universal Express Receives Special Competitive NEW YORK--Universal Express Inc. (OTCBB: USXP), announced that it has received a special competitive price allowance (CPA) from Ford Motors to offer van leasing incentives to private postal stores and couriers through it's subsidiary, Universal Express Logistics. Ford Motors has offered Universal Express Logistics an aggressive leasing incentive that will be passed along to private postal stores and couriers throughout the United States. This offer gives Universal Express Logistics the opportunity to promote and sell fleet services of select 2006 Ford vehicles at very competitive prices. "Ford's aggressive competitive price allowance will put Universal Express Logistics and UniversalPost in the forefront of the van and fleet leasing industry. We're looking forward to our upcoming incentive programs to promote this special pricing to approximately 13,000 private postal stores and courier's national wide. Our persistence and patience in finding the best leasing options for all private postal stores has finally paid off with Ford bringing us the best offer available", said Mr. Richard Altomare, CEO and Chairman of Universal Express, Inc. Ford has also provided Universal Express Logistics with a competitive assistance offer that will provide the fleet of leased vehicles with significant acquisition economics and purchasing flexibility throughout the 2006 model year which includes Roadside Assistance, and access to the Ford Fleet Customer Information Center. About Universal Express Universal Express, Inc. is a 22 year old logistics and transportation conglomerate with multiple developing subsidiaries and services. For additional information please visit www.usxp.com Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. ###Press Release####################### Vehicle Leasing Back to New York, Says Greater NEW YORK, - When President Bush signs the federal highway bill New Yorkers will likely get a special bonus -- the return of vehicle leasing. The Bill includes a ban on vicarious liability – the antiquated law that holds a leasing company liable for a driver's negligence which has forced 20 automakers and every major retail bank in New York out of leasing. The elimination of vicarious liability has long been an initiative of the Greater New York Automobile Dealers Association (GNYADA), and is expected to bring automakers back into the business of leasing vehicles in New York. GNYADA president, Mark Schienberg, welcomed the federal action. "I am pleased with this bill, which results in repealing lessor vicarious liability in New York," said Schienberg. "The anticipated signing of this Bill means that all New Yorkers will be able to again lease vehicles. This antiquated law has hurt the retail auto industry, and we are pleased that Congress has put an end to it." Vicarious liability is a legal concept that holds a leasing company liable for the actions of the driver of a leased vehicle. According to information released by GNYADA and the Alliance of Automobile Manufacturers earlier this year, it has cost consumers in New York more than $280 million in extra costs since 2003, and has eroded choice from the market place. The passage of this bill ends a long-running battle with the trial lawyers who supported vicarious liability and brings New York in line with the other 49 states which have already eliminated it. Vicarious liability has forced 20 manufacturers, including all of the GM, Ford, and Chrysler brands and every major retail bank and credit union in New York out of leasing. The repeal is expected to bring the automakers and banks back into the New York leasing market. "Historically, automobile leasing programs have allowed thousands of New Yorkers to drive new vehicles at more affordable monthly payments. Leasing is an important alternative financing option for families looking for newer, safer vehicles and for small and large businesses looking to expand their fleets. It is an option that all consumers deserve, and we are pleased that New Yorkers will again have the ability to lease vehicles," Schienberg concluded. The Greater New York Dealers Association, a not-for-profit organization represents 650 franchised automobile dealerships in the metro are of New York, which sells more than 700,000 cars each year. Its members generate more than $1.2 billion for state and local governments and employ (directly and indirectly) approximately 54,000 individuals in metro New York. ###Press Release#######################
Xerox Capital Services Chooses Avolent's Online Invoicing Avolent Inc., the leading provider of Interactive eBilling software, announced that Xerox Capital Services, LLC (a joint venture of GE Commercial Financial Services and Xerox Corporation), has selected Avolent's BizCast™ web-based invoicing solution. Xerox Capital Services will be the first in the industry to offer customers online self-service to review, parse, dispute, approve and pay invoices. Using BizCast, Xerox Capital Services anticipates significantly reducing invoice process costs, streamlining IT operations, and lowering Day Sales Outstanding (DSO), while setting new industry standards in customer service. The Leasing Industry Today – more than the “Art of the Deal” Equipment leasing is a $200 billion industry in the U.S. with over 35% of all business capital being leased. With “commoditized” products and aggressive competitors, leasing firms can no longer depend on winning deals based on price or products, but must focus on operational efficiency and customer service to maintain a competitive edge. Xerox Capital Services realized that one area of high operational costs and immense frustration for both leasing firms and their customers was the manual and complex invoicing process, where the invoices vary significantly each month based on usage of the equipment (i.e. number of copies) and how companies charge back equipment within their organization. “With millions of invoices sent every year, billing represents a critical interaction with our diverse group of customers and their specific product and service needs”, stated Kevin Divine, eBusiness Leader at Xerox Capital Services. “We believe that Avolent's online solution can help XCS reduce the cost and administrative workload for invoice processing.” Xerox Capital Services successfully deployed the application in April of 2005. "Xerox Capital Services understands that you don't have to sacrifice raising the bar on customer service to achieve operational effectiveness," stated Doug Roberts, chief executive officer of Avolent. "We are pleased to support Xerox Capital Services in leading the industry in this effort – minimizing the back-office financial cost and resource commitment of invoice processing and payment.” About Xerox Capital Services Xerox Capital Services, LLC (XCS) is a joint venture owned 81% by GE Capital and 19% by Xerox Corporation. With over 1,800 employees in four major locations, XCS is a world-class provider of specialized administration, financing and servicing programs for Xerox, its vendors, distributors, dealers and resellers in the United States. About Avolent Avolent provides application software for Interactive eBilling for large organizations that want to connect with customers online. Avolent's award winning BizCast software product suite streamlines all processes in the invoice-to-cash cycle through real-time electronic invoicing and payment, customer self-service, cash management, forecasting, and a unique patent-pending ability to dynamically adjust trade terms to meet corporate financial goals. Avolent's BizCast processes over $44 billion in invoices annually for customers such as AT&T, MasterCard, Highmark, Do It Best, Office Depot, PacifiCare, Xerox Capital Services, Unisys, Wells Fargo, and two of the three largest PC suppliers. For more information call (800) 553-5505 or visit www.avolent.com. Sites of Reference: CONTACT: ###Press Release####################### ---------------------------------------------------------------- Today's Top Event in History 1492--- Christopher Columbus ( Christophe Colombo ) set sail half a hour before sunrise from the harbor of Palos, Spain. With three ships, Nina, Pinta and Santa Maria, and a crew of 90, he sailed “for Cathay” but found instead a New World of the Americas, first landing at Guanahani ( San Salvador Island in the Bahamas ) October 12. He returned 224 days later, on March 14, 1493, to Lisbon, where he dispatched two letters of identical content, one to Raphael Sanchez and the other to Luis de Santangel, to describe the new world he had discovered. While he never set foot on the mainland of the United States or even called it America, he described what he thought were islands of China. He was to return to the area three more times. During his fourth and final expedition (1502-1504) Columbus (who's Italian name was Cristo Columbo---history changed it to Columbus on a map written in Latin ) discovered Martinique, and explored the coasts of present-day Honduras, Nicaragua, Costa Rica, and Panama. ----------------------------------------------------------------
This Day in American History 1492--- Christopher Columbus ( Christophe Colombo ) set sail half a hour before sunrise from the harbor of Palos, Spain. With three ships, Nina, Pinta and Santa Maria, and a crew of 90, he sailed “for Cathay” but found instead a New World of the Americas, first landing at Guanahani ( San Salvador Island in the Bahamas ) October 12. He returned 224 days later, on March 14, 1493, to Lisbon, where he dispatched two letters of identical content, one to Raphael Sanchez and the other to Luis de Santangel, to describe the new world he had discovered. While he never set foot on the mainland of the United States or even called it America, he described what he thought were islands of China. He was to return to the area three more times. During his fourth and final expedition (1502-1504) Columbus (who's Italian name was Cristo Columbo---history changed it to Columbus on a map written in Latin ) discovered Martinique, and explored the coasts of present-day Honduras, Nicaragua, Costa Rica, and Panama. ---------------------------------------------------------------- http://leasingnews.org/images/baseball.jpg Baseball Poem Life Life is like a game of baseball But the kind of game you play. With men who really care. The grounders they will tame. He's opportunity. A stalwart of the nine. You'll find his name is work. Your game is always clean. With joy and happiness. To make your game complete. Discouragement and falsehood, Carelessness and a man called waste, There's one more man you'll have to watch, The game will not be easy, So stand behind your team, | |||||||||||||||||||||||||||||||||||||||||||||||||
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