Holiday Editions Headlines--- Leasing News Donates $5000 to ELFF plus 10% --Publisher announcement --Editor/Publisher announcement Humboldt Bancorp, Northern California ---from our archives ------------------------------------------------------------------------------------------------- Orix---Goodbye? “Just wanted to let you know in case you haven't heard yet but this past Friday was Gary Gusoff's last day at Orix Financial Services. Also, it appears that it is only a matter of days before the powers that be (Dallas) announce that Orix will be getting out of the leasing business altogether. (name Withheld) http://www.leasingnews.org/Conscious-Top%20Stories/Orix.htm
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Please Support the Equipment Leasing and Finance Foundation. “There is still time to make your tax-deductible contribution to the Equipment Leasing and Finance Foundation. Equipment Leasing and Finance Foundation, the premier developer and disseminator of future-focused industry research is supported entirely by donations. “The Foundation provides valuable, independent studies including the annual State of the Industry Report, Industry Future Council Report, Basel II: Impact on North American Leasing Companies Study, Journal of Equipment Lease Financing and much more. All reports, studies and articles are available at www.leasefoundation.org “ Make your donation today by emailing llevine@elamail.com or call in a pledge at 703-516-8363. Happy Holidays to all!” Lisa A. Levine, CAE, Executive Director Equipment Leasing and Finance Foundation- Your Eye On the Future!
_____________________________________________________________ Leasing News Donates $5000 to ELFF plus Ten Percent Christopher Menkin, Publisher Leasing News will donate $5,000 to the Equipment Leasing and Finance Foundation. In addition, in 2003, it was our intention that those who made a complaint would volunteer to donate to the foundation. I don’t think any followed our recommendation In 2004, we will not accept any complaint nor investigate it without a signed agreement that ten percent of money “recovered” will go to the Equipment Leasing and Finance Foundation. Leasing News, nor any of its boards or editor, receives any remuneration for these complaints. We, or any members of the advisory board ,do not consider any placing of leases or referrals and receive no financial remuneration whatsoever. In fact, we have paid attorney fees and a lot of hassle for our good will. It you want to test us, take us to court and we will prove this is a “truth.” Leasing News will show you our financial records and tax returns. If a court of law, request my personal financial statements and tax returns, I will verify this to them. Starting in 2004, we will have all those who place a complaint, should there be any financial remuneration, we will require ten percent of it be paid to the Equipment Leasing and Finance Foundation. We will not, from now on, consider any complaint without such a signed agreement: ten percent of the remuneration will go to the ELFF. This will be our “fee” to process any complaints. Again, we won’t work on a complaint unless this agreement is signed. Again, let us state, to not only continue to uphold what we believe are the ethics of the industry, we will not consider any complaint without this remuneration to the ELFF being signed. The culture and ethics of leasing industry needs to improve. We will put our money where our mouth is, and as publisher, I challenge readers to do the same. Christopher Menkin, publisher [Headlines] ----------------------------------------------------------------------------------------- Leasing News Holiday Editions Kit Menkin, editor “Over the next two weeks I would like to enjoy the holiday season with my family and friends. I will be on vacation in South Lake Tahoe, Nevada. Therefore, I would like to give you some of the successes of what I believe Leasing News is all about. To my early readers, I hope you enjoy it. To my new subscribers, I hope you will learn from it. “I am getting a little discouraged in the direction of Leasing News as of late. I have had what I consider much criticism of my reporting. I still like the benefit of telling the readers the truth. I would like to think about what the purpose is, and how much I am willing to continue to invest in money, and more importantly, my time. “During this holiday time, I need to know were you the reader want me to direct my attention. Do you want “press release” or do you want information about what is really going on? “Our web site “free advertising” will continue during this period, but we have informed advertisers, and also posted on our site, that we will not accept any new ads until January 5th. It is my intention to continue “This Day in American History” during this period (most are completed a week in advance.) Should there be any up-dates to the Complaint Bulletin Board or other sections of the web site, Maria Martinez-Wong will do her best to accommodate them. “Please, I need to hear from you. I don’t intend to publish the e-mails; I prefer that you sign your name, those that don’t sign their name, their comments will not be taken as significant as those who sign their names...and maybe I won’t even respond right away, but I will certainly read all the comments, collect them, think about them, and have an open mind to what you send to me with your name signed to your opinion.” Happy Holidays. Christopher “Kit” Menkin editor/publisher Leasing News
-------------------------------------------------------------------------------------------------- Humboldt Bancorp, Northern California from our archives: http://www.leasingnews.org/archives.htm Much of our news comes from “insiders.” We get a lot of tips and information from current officers, employees, salesmen, and perhaps from those who recently left. A good example of this came in the story about Humboldt Bancorp. Leasing News was told the company would soon stop funding broker transaction, and was about to close down. The “insiders” did not want us to use their name, so in this case we didn’t print what they sent, but one told us to look at the most recent financial filing, which we did, that resulted in the story. While there were a series regarding this, here are two that seem to sum up the situation. Kit Menkin, editor April 27, 2001 CORRECTION
-Bancorp Financial Services, owned by Humboldt Bancorp, is Very Much In Business. Regarding
your leasing news report of today, you are clearly irresponsible in your
reporting of Humboldt Bank closing Bancorp Financial Services as our law
firm just informed you. Bancorp Financial Services is in the process of
diluting Some or all of Humboldt Banks interest in Bancorp due to the
regulatory issues associated with being part of a bank. Accounting rules
dictate that we must be accounted for as a discontinued operation during
the course of the dilution/sale as the CFO of Humboldt Bank just informed
you. Now I would like to inform you that prior to reporting issues that
disrupt business, please know the facts prior to writing headlines that
are absolutely bogus. Your retraction of misinformation is anticipated. Executive Vice President Bancorp Financial Services rees@bancorpfs.com
--- Humboldt Bancorp says Goodbye to the Weakest Link
( Doug Rees, Vice-President, has not returned our calls as it appears the second quarter loss and investigation by the Security Exchange Commission, Sacramento, California, has put the company into an immediate “wind down” as they originally informed the Security Exchange Commission and issued a press release, that they later stated was “misinterpreted” and was only “for accounting purposes.” They had asked Leasing News for a “correction,” which we did. with the express purpose of hoping they would survive. editor
http://www.leasingnews.org/archives/April01/4-27-01a.htm
It appears the shutdown has affected several leasing transactions and we have been attempting to obtain public information, to help those in the industry, such as this person:
Just a note on the Bancorp Financial Issue we have a 300k portfolio in funding now that they are now stating they cannot honor this commitment because they are out of money. This was told to us by Doug Reese on Tuesday. We were notified that they would be closing on Friday of late week at 4:30pm (really nice) As of yesterday they were going to purchase the portfolio through a deal they worked out with G.E. Capital / CPL but that has also fell through. This is turning out to be another United Capital issue. You may print this by please leave our name off since we still are working on selling this portfolio to them.
Name Withheld
+ + + +
We have a lawsuit scheduled for August, and perhaps it will be resolved sooner. If there are others who would like to join our suit or share information, please contact leasing news as they will forward your e-mail to me.
Name Withheld
+ + +
I have been doing business with Bancorp Financial Services for many years, and have nothing but good experiences to report. I know Doug Rees and feel for he and his staff. They have been put in a very difficult situation, which is further complicated by the fact that they cannot honor and fund existing approvals which may be in the pipeline. Fortunately, I only have a couple transaction which fall into this category, and I wish them the best of luck in the future.
Stephen P. Sambor Vice President of Credit and Funding Americorp Financial, Inc. 877 S. Adams Birmingham, MI 48009 stephen.sambor@eAmericorp.com
_________________________________________________________ June 7, 2000 The List Hal Hayden of CapitalStream helped me revise this list. Any comments or corrections are always appreciated. 32 Leasing Companies with Problems the last Six Months: Bankvest (bankrupt) Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales ) DVI Capital ( out of broker ) Leasing Solutions ( bankrupt ) Prime Capital ( sold off ) VGM ( out of business ) American Business Leasing ( gone ) Fidelity ( acquired by ABN Amro Bank ) Phoenix ( both divisions ) Dana ( sold off ) Rockford ( sold ) Franklin Bank ( no more leases ) Transamerica ( sold ) Commerce Security ( closed ) Nationbank Leasing ( closed ) Unicapital ( reportedly struggling ) Imperial ( sold portfolio ) Newcourt ( sold off ) United Leasing ( out of liquidity ) Leasing Corp of America ( for sale below book value ) C&W Leasing ( bankrupt ) Merit Leasing ( gone ) USA Leasing ( gone ) Libery Leasing ( closed ) Copelco ( sold to Citibank ) Finova ( out of market place ) Bombadier ( reported having problems, not confirmed ) SDI ( closed ) United Capital ( reported having problems, very bad quarter ) Charter Financial ( purchased by Wells Fargo ) New England Capital ( sold ) T&W ( lost their capital )
--------------------------------------------------------------------------------------------------- This Day in American History 1696-Birthday of William Oglethorpe, English general, author and colonizer of Georgia. Founder of the city of Savannah. Oglethorpe was born at London. He died June 30, 1785, at Cranham Hall, Essex, England. http://www.ourgeorgiahistory.com/people/oglethorpe.html http://www.cviog.uga.edu/Projects/gainfo/hogarth3.htm 1727-Birthday of William Ellery, Signer of the Declaration of Independence, born at Newport, RI, and died there Feb 15, 1820. During the British occupation of Rhode Island, Mr. Ellery's house was burned and much of his other property “injured.” http://www.williamellery.com/ http://www.colonialhall.com/ellery/ellery.asp 1770 -Birth of Father Demetrius Gallitzin, a Dutch Catholic priest. Arriving in America in 1792, he spent his remaining years as a frontier missionary, building up the Catholic church in parts of PA, MD, VA and WV. Gallitzin became known as the "Apostle to the Alleghenies."
http://www.gsd1.org/business/GlendaleBoatSales/history.htm http://www.catholicism.org/PAGES/gallitzin.htm 1775-Esek Hopkins of Rhode Island became the first Commander-8in-chief of the Continental Navy and severed until January 2, 1778. He also got into trouble with Congress for interpreting his orders rather broadly in diverting his fleet from its announced destination of Charleston to the Bahamas, where he made a successful raid on military stores. Congress sacked him anyway. Some say his real crimes were a hot temper and an unguarded tongue. Others say he had secret orders. Among his officers was First Lieutenant John Paul Jones, who helped take New Providence. This was the first American naval victory. Commodore Hopkins flew on this first and on other voyages the Gadsden flag, designed by a man from Charleston, Carolina, with a coiled rattlesnake and the motto ``Don't Tread on Me.'' http://www.worldsfinestnavy.com/EsekHopkins.html http://www.famousamericans.net/esekhopkins/ http://www.sat.quarterman.org/who/essexhopkins.html http://www.sat.quarterman.org/gif/gadsden1.gif 1815-Birthday of Henry Highland Garnet, early Black abolitionist leader, leader of both emigration to Liberia and freedom in the United States.. Later in life, Garnet turned to religion and lost a lot of his influence on the issue of slavery, but he continued to fight for the cause and helped to improve the lives of former slaves. In 1881 he was appointed to a position in Liberia, but died only two months after he arrived in 1882. http://www.pbs.org/wgbh/aia/part4/4h2949.html http://www.africawithin.com/bios/henry_garnet.htm http://www.ugrworkshop.com/hgarnet.htm http://raider.muc.edu/~horninme/G7%20henry_highland_garnet.htm 1833- Mercer University was chartered in Penfield, Georgia under Baptist support. In 1871 the college moved its campus to Macon, Georgia. http://www2.mercer.edu/About_Mercer/default.htm 1862-Birthday of Connie Mack,, Baseball Hall of Fame manager and executive born Cornelius Alexander McGillicuddy at East Broofield, MA. Mack was a mjajor league catcher who became the original manager and co-owner of the Philadelphia Athletics in 1901. He managed the team, always wearing street clothes and signaling to his players with a scorecard, through the 1950 season and retired after the 1953 season The Mackmen often finished as also rans, but his te4ams did win nine pennants and five world Series. Inducted into the Hall of Fame in 1937. Died at Germantown, PA, PA. Feb 8,1956. http://memory.loc.gov/ammem/today/dec22.html http://www.baseballhalloffame.org/hofers_and_honorees/ 1869-Birthday of Edward Arlington Robinson, three-time Pulitzer Prize winner best known for his short dramatic poems, including "Richard Cory" and "Miniver Cheevy." Born at Head Tide, ME, and died at Los Angeles, CA, Apr 6, 1935. http://robinson.bokardo.com/biography.phtml 1883-Birthday of Arthur Wergs Mitchell, leading “New Deal” Black politician, from Illinois. Died May 9, 1968 http://www.system.missouri.edu/upress/spring1997/nordin.htm http://bioguide.congress.gov/scripts/biodisplay.pl?index=M000805 http://www.aaregistry.com/african_american_history/493/ 1886-The first accounting society (national) was the American Association of Public Accountants, formed in New York City. The first president was James Yalden. 1888-Birthday of Dr Chancellor Williams, historian and author of “Destruction of Black Civilization.” http://saxakali.com/Saxakali-Publications/runoko8.htm http://www.raceandhistory.com/Historians/chancellor.htm http://aalbc.com/reviews/chancell.htm 1894-The United Sates Golf Association, the governing body for golf in the US, was founded at a meeting of representatives from five golf clubs. 1904-Birthday of Kenneth Rexroth, Beatnik Poet. Well-known San Francisco personaltiy,died June 6, 1982 in Montecito, California. http://www.charm.net/~brooklyn/People/KennethRexroth.html http://www.amazon.com/exec/obidos/tg/detail/-/1556591713/ 1910-Birthday of trumpet player Reunald Jones (Count Base Band) born Indianapolis, In. Died, 1989. One of the “Jones Boys.” http://www.centrohd.com/biogra/j2/reunald_jones_b.htm http://www.52ndstreet.com/reviews/mainstream/vajonesboys.html 1913-Pianist Dudley Alonzo Brooks(Elvis Presley band) born Los Angeles, Ca. 1914-The mood to ban alcohol as a means of ending alcoholism and its abuse in the United States had it first test in the first alcohol prohibition vote taken in Congress that showed the House of Representatives with a dry majority. The representatives voted 197-189 in favor of a resolution to provide a constitutional amendment banning the manufacture and sale of intoxicating beverages. The resolution, offered by Representative Richmond Pearson Hobson of Alabama, failed to win the necessary two-thirds majority, but the mood and politics regarding prohibition was certainly changing. Hobson became known as the anti-alcohol crusader. Richmond Pearson Hobson was one of the great heroes of the Spanish-American War, following only Theodore Roosevelt and George Dewey. Hobson's fame and popularity was the result of leading an unsuccessful attempt to block the harbor of Santiago de Cuba by sinking the collier MERRIMAC in the entrance. Despite the fact that the effort was a failure, and Hobson and his crew were captured by the Spanish, he became a hero anyway. As a result of his status as a war hero, he was later elected to Congress, and became a prominent crusader for alcohol prohibition. He introduced the first national alcohol prohibition bill in 1911. http://bioguide.congress.gov/scripts/biodisplay.pl?index=H000667 http://www.samford.edu/groups/amhf/id35.htm http://www.druglibrary.org/schaffer/people/hobson/ 1919-Singer Lil Green ( Lillian Johnson) born Clarksdale, MS “Why Don’t You Do Rights” was her big hit, later to be the theme song of Peggy Lee. http://www.oafb.net/once29.html http://www.geocities.com/theblueslady.geo/LilGreen.html http://www.artistdirect.com/music/artist/bio/0,,551235,00 1921- The first U.S. commercial radio license assigned to a religious broadcaster was awarded to the National Presbyterian Church of Washington, D.C. Within five years, there were over 60 other licensed religious broadcasters, including KJS_Biola (L.A.), KFUO_Concordia Seminary (St. Louis), and WMBI_Moody Bible Institute (Chicago). 1937- Lincoln Tunnel (New York NY) opens to traffic http://www.nycroads.com/crossings/lincoln/ 1938-Birthday of Mateo “Matty” Alou, former baseball player, born Haina, Dominican Republic. http://www.baseballlibrary.com/baseballlibrary/ballplayers/A/Alou_Matty.stm http://www.yankeeinfo.com/master.asp?id=alouma01 http://www.angelfire.com/va3/steelerchief/images/Matyalou.jpg 1939- drummer Nick Ceroli born Warren OH Died August 11,1985 He began his professional career with the Ray Anthony band in the late '50s, and progressed through the bands of Lionel Hampton, Terry Gibbs, and Stan Kenton. Never a fan of rock or "pop" music, but rather a mainstream jazz and big band player, Nick nonetheless joined Herb Alpert's Tijuana Brass in 1965. He spent five years with that incredibly successful group, lending his talent to an act once described as having "single-handedly returned instrumental music to the American popular consciousness." http://www.centrohd.com/biogra/c3/nick_ceroli_b.htm
1941 - On Decca Records, Jimmie Lunceford and his orchestra recorded "Blues in the Night", which became one of Lunceford’s biggest hits. From 1934 to 1946 Jimmy Lunceford racked up 22 hits more hits. http://www.pbs.org/jazz/biography/artist_id_lunceford_jimmie.htm 1943-WEB Du Bois elected First black member, National Institute of Arts and Letters http://www.csustan.edu/english/reuben/pal/chap9/dubois.html http://www.americaslibrary.gov/cgi-bin/page.cgi/aa/dubois 1944-Birthday
of Steven Norman “Steve” Carlton, baseball Hall of Fame pitcher,
born Miami,Fl. http://www.baseballhalloffame.org/hofers_and_honorees/ 1946-Birthday of Diane Sawyer, journalist ("60 Minutes," "Prime Time Live"), born Glasgow, KY. http://abcnews.go.com/sections/GMA/GoodMorningAmerica/ 1947-Drummer Art Blakey’s Jazz Messengers cut first record, Blue Note Label. http://www.playjazz.com/DR005.html http://home.ica.net/~blooms/Art1.html http://800-buy-movies.com/GeneralDVD/gr107322D1.htm 1948-Birthday of Steve Garvey, former baseball player, born Tampa, Florida. http://www.thebaseballpage.com/past/pp/garveysteve/ http://www.baseball-reference.com/g/garvest01.shtml 1951---Top Hits Rudolph, the Red-Nosed Reindeer - Gene Autry White Christmas - Bing Crosby Slowpoke - Pee Wee King Let Old Mother Nature Have Her Way - Carl Smith 1952—“Ding Dong School” Premieres on TV. Named by a three-year-old after watching a test broadcast of the opening sequence (a hand ringing a bell), "Ding Dong School" was one of the first children's educational series. Miss Frances (Dr. Frances Horwich, head of Roosevelt College's education department at Chicago) was the host of this weekday show. http://www.richsamuels.com/nbcmm/dds.html http://www.skypoint.com/members/schutz19/dingdon1.htm 1952-The Modern Jazz Quartet cuts first recording,Prestige label. http://www.holeintheweb.com/drp/bhd/MJQ.htm http://www.jazclass.aust.com/lewis.htm 1958- "Chipmunk Song" reaches #1 http://www.poplyrics.net/waiguo/compilations/xmascarols/012.htm http://www.psci.net/~aa9ai/chip.ra 1959---Top Hits Heartaches by the Number - Guy Mitchell Why - Frankie Avalon The Big Hurt - Miss Toni Fisher El Paso - Marty Robbins 1963- Oakland Raider Tom Flores passes for 6 touchdowns vs. Houston (52-49) http://www.hickoksports.com/biograph/florestom.shtml http://www.frameposters.com/Posters_Tom_Flores.html http://www.geocities.com/madnessmike/tom_flores.htm 1963 -Official 30-day mourning period for President John F Kennedy ends. 1967---Top Hits Daydream Believer - The Monkees Woman, Woman - The Union Gap Boogaloo Down Broadway - The Fantastic Johnny C It’s the Little Things - Sonny James 1968-President-elect Richard Nixon’s younger daughter, Julie, was married in New York City to Dwight David Eisenhower II, grandson of the former president. http://www.jag.org/jn_eisenhower.htm 1972 - Folk singer Joni Mitchell was awarded a gold record for her album, "For the Roses"; which included the song, "You Turn Me on, I’m a Radio". 1973 - Barbra Streisand's hit record, The Way We Were, from the movie of the same title that she starred in with Robert Redford, debuted on Billboard's pop record charts on this date. The song was on the charts for 17 weeks total, and for 3 weeks was Number 1. It was later certified gold, and it won the Academy Awards for Best Song and for Best Original Dramatic Score. The music was written by Marvin Hamlisch, and the lyrics by Alan and Marilyn Bergman. 1974-Center Phil Esposito of the Boston Bruins scored the 500th goal of his career in a 5-4 win over the Detroit Red Wings. Esposito played from 1963-64 through 1980-81 and finished with 717 regular season goals. 1975 - On CBS-TV's "All In the Family," Mike and Gloria Stivic, played by Rob Reiner and Sally Struthers, had a baby. 1975---Top Hits That’s the Way (I Like It) - KC & The Sunshine Band Let’s Do It Again - The Staple Singers Saturday Night - Bay City Rollers Convoy - C.W. McCall 1976 - Production of "Let’s Make A Deal" came to an end. During the games show's 3,200 episodes, Monty Hall gave away an estimated $35 million in prizes and over 20,000 kisses. The show's announcer was Jay Stewart, and Carol Merrill was the spokesmodel. 1977-Not everyone who jumped from the top of the Empire State building committed suicide, as 26-year-old Thomas Helms, who jumped from the observation deck oon the 86th floor landed on a narrow ledge on the85th floor, about 20 feet lower down. He was knocked unconscious for half an hour, but was not seriously injured. http://www.hockey-fans.com/players/esposito.php 1983---Top Hits Say Say Say - Paul McCartney & Michael Jackson Say It Isn’t So - Daryl Hall-John Oates Union of the Snake - Duran Duran Black Sheep - John Anderson 1984 - CBS Records it would release Mick Jagger, of the Rolling Stones, first solo album, set for release in February, 1985. After a 20-year career with the self- proclaimed “greatest rock ‘n’ roll band in the world,” Jagger went solo with the album: "She’s the Boss". http://www.amazon.com/exec/obidos/tg/detail/-/B000002I http://www.sweetstar.com/song/b000002ixg 1986 - "Sports Illustrated" magazine named Joe Paterno Sportsman of the Year; whose naming marked the second time a coach won the honor. The first coach to do so was UCLA basketball legend, John Wooden. For this issue, the magazine chose to change its logo to a two-line design. http://sportsillustrated.cnn.com/features/2002/sportsman http://www.gopsusports.com/football/people/paterno/ http://www.hoophall.com/halloffamers/Wooden.htm 1989- Cold wave: -4ºF in Oklahoma City OK, -6ºF in Tulsa OK, -12ºF in Pittsburgh PA, -18ºF in Denver CO, -23ºF in Kansas City MO, -42ºF in Scottsbluff NE, -47ºF in Hardin MT & -60ºF in Black Hills SD. 1991---Top Hits Black or White - Michael Jackson It’s So Hard to Say Goodbye to Yesterday - Boyz II Men All 4 Love - Color Me Badd My Next Broken Heart - Brooks & Dunn 1996-Right wing Brett Hull of the St. Louis Blues became the 24th player in NHL history to score 500 regular-season goals. He tallied goals Nos.498,499 and 500 in a 7-4 victory over the Los Angeles Kings. Another goal, originally thought to be No. 500 was later credited to teammate Sepahne Matteau. Hull and his father Bobby thus became the first father-and-son duo in NHL history to score 500 goals each. http://www.hockey-fans.com/players/brett-hull.php 1998 -- U.S. Woman Combat Pilot Sees Action -- December 22, 1998 -- ABOARD THE USS ENTERPRISE (AP) -- The first American woman fighter pilot to see combat action took part in the air strikes on Iraq. Navy Lt. Kendra Williams, 26, flew her FA-18 fighter-bomber as part of the attack force launched from the aircraft carrier USS Enterprise in the Gulf. Williams, who was raised in Anchorage, Alaska, was among the first group of women allowed to train for fighter duty, military officials said Tuesday. She graduated from jet training at the Naval Air Station in Kingsville, Texas, in 1997. http://www.ctie.monash.edu/hargrave/williams_k.html -------------------------------------------------------------------------------------- [Headlines]
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