Leasing News

1991 Fall Conference in Monterey Golf Tournament (l to r)) Andrew Alper, Esq., Glass, Alper, Goldberg &Cohn; Jeffrey Wong, Esq.,Cooper, White & Cooper; Stan Nathanson, President, RSN Equipment Leasing & Financial Service ( not picture is Steve Pressler, VP, Tucker Leasing Capital Corporation.”

WAEL Newsline, 1991.

Andrew Alper Today:

“The Leasing News asks "What have I been doing since 1991?" The first thing I notice about that picture is how young I look. The second and more important aspect of that picture is that unfortunately our good friend Jeff Wong is no longer with us. He was a great contributor to the leasing industry and a well-liked and well-respected attorney always there for the joke. Since 1991, I have had one more child (my children are 14 and 11). I have been married to the same woman during the entire time period which these days is unusual. In 1996, I joined Frandzel & Share in Los Angeles as a partner. This firm is now known as Frandzel Robins Bloom & Csato, L.C. I continue to represent leasing companies, funding sources, banks and other financial institutions in litigation, transactional, and bankruptcy matters. I also continue to support UAEL and ELA and attend the conventions. In fact, I will be speaking at the next UAEL convention and the ELA Credit and Collections Seminar. I would like to talk about the changes in the leasing industry since 1991 and the great people in the leasing industry who I have met and are no longer in the leasing industry, but space will not allow me to do so. Thank you for allowing me to take a look back at the past. And, before I forget, I still play golf once a week but unfortunately have lost some yardage on the drives due to old age.”

Andrew Alper

aalper@frandzel.com

Stan Nathanson Today:

“The question that you posed to me " what have you been doing since 1991" has

forced me to think it through for a few days. The best and only answer I

have come up with is; Staying healthy and still searching for a good women.

Overall I feel that I have a loaf of bread under each arm, no complaints.

Other than the above, my goals are to put myself in a better position to do

the type of deals that take advantage of my business skills and experience

that I developed prior to getting in the leasing business. Kind of like what

you have done with Leasing News.

“Best wishes, and keep in mind that ‘your health is your wealth’."

Stan

Columbia Equipment Finance

Columbia Business Capital

www.columbialeasingusa.com

stan@columbialeasingusa.com

Phone: 800.733.3939

Fax: 800.827.2600

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Classified Ads---Attorneys

Northern California - Statewide: CA "EAEL" "ELA"

San Francisco expertise at San Rafael,CA prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq. 415-721-7900 kgreene100@aol.com

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

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

NY Metro and National: Hackensack, NY "ELA"

Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. Email:wuscher@uqur.com

National: http://www.leaselawyer.com/ "ELA" "NAELB"

Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs: Email:bsm@blik.com---

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Leasing Partners Capital Announce Their Formation/Bruce Larsen Nat. Sales Mgr.

Middle States Capital Corp. and Resources Capital Corp. Merge

Duane Rouba of MSCC and Chuck Seergy of RCC have announced the merger of their two companies, effective January 2, 2003. The new company, called Leasing Partners Capital, Inc. (LPC) will be headquartered out of Wayne, NJ and plans to open 24 regional offices nationwide in 2003. They are a general equipment lessor in the small, middle and large ticket markets.

"We are a direct lender with our own lines, as well as, use third parties, too, depending on the deal (credit profile, industry type,

equipment type, etc.)," Larsen explained. " This gives us the ability to accommodate more than just what our in house underwriters will allow for on

our own lines."

The company does not plan to have a lease broker plan, and is in

the start of hiring 25 "territory managers" to do direct sales.

Bruce Larson is the new National Sales Manager LPC has recently announced the appointment of Bruce Larsen as their new National Sales Manager.

He is a veteran of 33 years in the lending industry, most recently as President of Summit Funding Corp., and previously with United Leasing, Enterprise Financial, Security Pacific Bank and Marine Midland Bank.

Mr. Larsen resides in suburban Minneapolis, MN, with his wife and 4 children. In additional to being a Minnesota Vikings "fanatic," he loves fishing and plays a little golf.

Contact: Bruce Larsen

Leasing Partners Capital, In.

(952) 890-5092

LeasingPartnersCapital@msn.com

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Please send to a colleague, as we are trying to build our readership.

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Lessors.Com "Expands" Conference Due to Large "Waiting List"

"Due to extraordinary interest in this event, the Lessors Network has expanded Attendee Registration by 20% and added two additional Exhibitor/Speaker registrations. All registrations are subject to review and approval by the Lessors Network and are available on a first come basis. "

2003 Lease Syndication Showcase

Matching Buyers With Sellers In The

Commercial & Municipal Syndication Markets

March 10 | The Ritz-Carlton, Buckhead | Atlanta, GA

http://www.lessors.com/Events-2003/Syndication/syndication.html

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What Lessors Are Saying About. . .Inertia

Equipment Leasing Association News

“We’re still adding positions,”

“We are under the assumption that this year will get worse not better”

“full steam ahead.” "

“ ‘hold the line,’ we still have to hold back expenses.”

“Hesitant” is the word many leasing company executives use to describe businesses’ attitude about new investment in equipment. In light of the inertia, lessors will need to find new avenues for growth, and in some cases, for mere survival.

Ken Collins, President of Patriot Commercial Leasing, Co. Inc., agrees that this topic has been on everyone’s mind lately. “We have been asking that same question since early 2002: ‘What are we going to do in 2003?’”

The leasing industry is known for its entrepreneurial outlook, however, and most agree the strong players will make it through 2003 by exercising their creativity muscles.

“In the environment today, we’re having to go out and create need,” said Bob Hunter, Senior Vice President, Citicapital. “Customers are reluctant to part with funds for investment.”

He added, “Traditional financing solutions that have been offered in the past to facilitate sales aren’t working in the marketplace today. No longer are we facilitating sales, as much as creating a value proposition for [vendor] customers that will help them get over the hump.”

Some aren’t finding they need to do much different, however, even in today’s trying times.

“I’m not going to do anything differently,” said Dan McKew, president of Sun Trust Leasing, about the stagnant business environment. “We were up 26% last year. We’re having a great first quarter. I know that business isn’t robust, but we’re finding business.”

However, McKew points out that changes are still afoot for Sun Trust Leasing. “Our mix of business has changed. We added small ticket leasing. Though we won’t grow as robustly as in the past, our growth this year still can be in the high teens to 20 percent.”

“Our total business last year was down just slightly from the year before but our income was up,” he continued. “Lessees are holding onto equipment a little bit longer, which actually helps us. It’s continuation of business as the deal, slated to go off the books, stays on.”

Operating in certain niches helps, too.

Ken Collins, President of Patriot Commercial Leasing, Co., Inc., said they put out special programs to get attention from sectors “that we think will keep moving or sectors that need to replace old equipment to keep operating.”

He added, “We do a certain amount of volume and equipment types like materials handling. No matter who you are, you will need materials handling equipment. The same holds true with medical and possibly trucks and trailers. The nation has to keep moving.”

He also added that, “Even if we do go after niches and ‘hold the line,’ we still have to hold back expenses.”

Expense management is two words heard often. Other ways to keep going include increasing fee income and structuring deals creatively.

Collins said that banks seem to be trying to generate more revenue from fees. “On our side, we have a large portion of revenue coming from fees as well, through servicing, lease insurance, and a slew of other services. We recognize a large portion of our revenue — 20% — from fees.”

Citicapital’s Hunter said, “We are actively pursuing with our manufacturing partners some creative ways to subsidize solutions for customers – subsidized rental programs, interest free programs, deferred programs.”

“Manufacturers still have to move inventory and have a core volume to justify keeping the manufacturing facilities open,” added Hunter, echoing other’s comments that today it is just smart to operate in niches that just have to “keep going” no matter what. “We’re looking at creative solutions that will force [end-user] customers to make an acquisition. Our solutions can help drive sales so customers can take an existing budget for maintenance and support, for instance, and defer costs of new capital expenditures over the next one or two years.”

Even with all this creativity, can lessors (or any other business) survive another year?

“Lessors that are going to remain market competitive and solvent over the next year or two will become stronger,” summed up Hunter. “More opportunity will exist for them to pursue relationships.”

Hope remains, but recovery will remain elusive, said most lessors interviewed about economic conditions over the last few months.

“We don’t foresee any real recovery this year,” Hunter said. “We are under the assumption that this year will get worse not better. We’re basing costing structure and budget structure around stagnation if not an actual slow down.”

Interestingly, though, some are charging “full steam ahead.”

“We’re still adding positions,” said Sun Trust’s McKew. “I’m probably going to add eight percent more employees this year.” He agreed that the economy wouldn’t likely recover this year, but “I’m okay with that. We’ve got a plan for growth next year.”

McKew summed up: “Luck is a great thing and we’ve had a lot of it.”

( Courtesy ELA Online )

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“Goin’ to Chicago, Sorry I Can’t Take You.”

Jimmy Rushing, Count Basie Band

http://www.naelb.org/images/regmeeting02/12-36b.jpg

UAEL President, Bette Kerhoulas; NAELB President, Gerry Egan; NAELB

Secretary/Treasurer, Donna Cole

or: http://www.naelb.org/events.shtml.

Thank you for reminding everyone Friday is the last day for the Hotel Reservation

discount, and the Admission discount ( save $100) for our upcoming NAEBL

Annual Conference in Chicago. I encourage anyone and everyone to attend,

whether they are members of NAELB or not. Here's why. I wasn't a member of

NAELB when I attended my first NAELB Annual Conference, (I joined right

after, though). Nevertheless, I came home with practical ideas I could put

to use immediately and with contacts that remain helpful to me to this day.

Recently, in conversation, I was asked what I thought the real value of

attending business conferences was. I didn't hesitate in my answer. I have

learned a tremendous amount of technical information in conference

educational sessions; I've met funder exhibitors who've helped shape and

built my business; and I've signed up for valuable money-saving programs.

However, the single most valuable thing I've gained from any business

conference is the confidence I've gained from meeting and talking with other

professionals in my business.

Not a single day goes by in my business that I don't use some little idea,

technique or process that was shared openly with me by someone else who's

faced the same challenges I face everyday. Those one-on-one face-to-face

impromptu conversations have yielded some of the most productive business

advice I've ever received and sown the seeds of some of the most dependable

and rewarding relationships ---personal as well as business--- I've ever

had.

If anyone will invest the time and money to spend a few days mingling with

their peers and then leverage that investment by opening up and talking and

exchanging ideas with them, I know from personal experience their investment

will pay off handsomely and for many years to come.

To any of your readers, Kit, not familiar with the NAELB, I'll say this.

The NAELB is the most open and sharing business group I've ever known or

heard of. Come and spend a few days with us next month. I think you'll

want to become part of the group, but even if you don't, you're welcome to

the host of new ideas and contacts that will be waiting for you there.

Gerry Egan

President

NAELB

President

TecSource, Inc.

5621 Departure Drive, Suite 113

Raleigh, NC 27616

Phone: 919-790-1266

Fax: 919-790-2262

E-Mail:GerryEgan@ForEquipmentLeasing.com

Internet: http://www.ForEquipmentLeasing.com

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ML Technologies Announces Integration of First American CREDCO's DataFlite

DOWNERS GROVE, Ill.--

Internet Connectivity Now Available through all SalesDesk(TM)

Dealership Products

LML Technologies, a leading provider of financial marketing software, credit reports and automotive dealership support services and the creators of LeaseLink(R),y announced that First American CREDCO's DataFlite(TM) system is now available within all applications of LML's SalesDesk(TM) product suite.

The products within SalesDesk - including GuestTrack 3.0, LeaseLink and FinanceWizard - interface with the major dealership management systems in the marketplace, and allow for fast access to multiple payment scenarios for new and used car leasing, non-prime finance and prospect management.

The addition of DataFlite, First American CREDCO's proprietary credit data delivery system, means that dealerships using any of the three SalesDesk applications can access information from one, two or all three of the national credit bureaus (Equifax(R), Experian(R), and TransUnion) in a single, merged report via the Internet. Dealerships will now have the flexibility to obtain credit information using the SalesDesk application that best matches their sales process, while utilizing the speed of the Internet to take customers from contact to contract more quickly than ever before.

In addition to the SalesDesk suite, customers can also access the DataFlite system through LML's newest online product, LeaseLink Direct

- the internet-based version of the company's flagship LeaseLink product - enabling a complete turnkey Internet solution.

"Our clients are always asking for better solutions to speed their sales process and improve their competitive advantage," said Phil Battista, Chief Operating Officer of LML Technologies. "We are proud to be among the first companies to implement the DataFlite technology and provide our dealers with the tools they need to achieve their business results."

LML Technologies, headquartered in Downers Grove, IL, and formerly known as Lease Marketing Ltd. - the creators of LeaseLink - was established more than a decade ago and is the largest provider of leasing, custom finance and business development software to the dealer and financial industry. For more information about LeaseLink(R) Direct and the SalesDesk(TM) suite of products, contact LML Technologies at 1-800-576-5480, or visit www.lmltechnologies.com.

First American CREDCO, a member of The First American Family of Companies, processes millions of credit transactions annually and is the industry's technology and service leader. The company processes more than 100,000 credit reports daily, and is the leading provider of specialty credit reports to the mortgage, consumer finance, and automotive industries. First American CREDCO proudly serves a broad range of lending and retail markets with a variety of business information products and services.

CONTACT:

LML Technologies

Christine Wellman, 937/886-9275

SOURCE: LML Technologies

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AIG Reports 2002 Net Income of $5.52 Billion vs. $5.36 Billion in 2001

American International Group, Inc. (AIG) today reported that its net income for the full year 2002 was $5.52 billion, compared to $5.36 billion in 2001. The

fourth quarter of 2002 resulted in a net loss of $103.8 million, compared to net income of $1.87 billion in the same period of 2001.

On February 3, AIG announced that it would incur a net, after tax charge of $1.8 billion in the fourth quarter of 2002 related to an increase of general insurance net loss and loss adjustment reserves, following the completion of

AIG's annual year-end loss reserve study. Fourth quarter 2002 income as adjusted, excluding the reserve charge and realized gains and losses, increased 13.9 percent to $2.33 billion. For the full year 2002, income as adjusted was $8.91 billion, an increase of 11.9 percent over the full year 2001, which was also adjusted for the cumulative effect of accounting changes, acquisition,

restructuring and related charges and World Trade Center and related losses.

American International Group, Inc. (AIG) is the world's leading U.S.- based international insurance and financial services organization, the largest underwriter of commercial and industrial insurance in the United States, and among the top-ranked U.S. life insurers. Its member companies write a wide range of general insurance and life insurance products for commercial, institutional and individual customers through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services, retirement savings and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making, and consumer finance. AIG has one of the largest retirement savings businesses in the United States and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.

CONTACT:

Charlene M. Hamrah

American International Group, Inc.

Phone Number: (212) 770-7074

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News Briefs---Sport Brief

U.S. Trade Deficit Rises to Record Levels

(puts a significant damper on U.S. economic growth last year)

http://www.washingtonpost.com/wp-dyn/articles/A37740-2003Feb20.html

Mortgage rates hit new lows

http://www.signonsandiego.com/news/business/20030220-1140-mortgagerates.html

Gas at Pump Price May be "gouging" by oil companies

http://www.signonsandiego.com/news/business/20030220-1340-gasprices.html

America’s Ten Top Best Selling Vehicles 2002

http://autos.msn.com/advice/windowshop.aspx?contentid=4019057

Titans release veteran QB Neil O'Donnell

http://sports.espn.go.com/sports/gen/wire?messageId=10235920

February 21,1917 Tadd Dameron Birthday

http://www.cleveland.oh.us/wmv_news/jazz30.htm

http://blackhistory.eb.com/micro/726/86.html

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