|
Inside Sales Manager
Troy, MI
Proven in sales, prospecting and closing
skills. Must know how to lead and
grow our sales team. Send resumes to htischer@leasecorp.com
|
|
|
Wednesday, July 5, 2006
Headlines---
Classified Ads---Operations
Archives--- July 5, 2000
Alan Fern, Negative Press
ELA Lease Index: May Favorable
NACM Index: Business Improves
Real Estate Loan Spreads
UAEL Letter of Support/Tax Case
Cartoon---All the Kings Horse
Top Stories--June 26-30
Classified Ads---Help Wanted
Sales makes it Happen—T.Winders
Depends which corner your view
eLeasing- aggregate funding sources
Netsol Completes Purchase McCue
Bentsen Officially at Helm of ELA
UAE national Jassem Al-Shikar
Int.Healthcare Finance Management
News Briefs---
You May have Missed---
"Gimme that Wine"
Calendar Events
Today's event in History
This Day in American History
Baseball Poem
SuDoku Puzzle
######## surrounding the article denotes it is a “press release”
-------------------------------------------------------------------
Classified Ads---Operations
Valley.jpg)
Hopewell Valley Vineyards, Pennington, New Jersey
Orange County, CA
Operations/Credit Manager with 15 Years Experience, Middle & Large Ticket, initiated policies for Patriot Act and Sarbanes Oxley, Team Motivator.
E-mail: equiplender@aol.com
East Windsor, NJ
Skilled Manager in credit, collections, training, documentation, policy and procedure, lease and finance operations. Get results and keep the customer coming back.
Email: rgmorrill@comcast.net
Resume
http://64.125.68.91/AL/LeasingNews/Resumes/Richard_Morrill.pdf
New York, NY
10+ years in equipment leasing/secured lending. Skilled in management & training, documentation, policy and procedure development & implementation, portfolio reporting. Strong work ethic.
Email: dln1031@nyc.rr.com
Wayne, NJ
20+ heavily experienced collection/recovery VP looking to improve someone's bottom line. Proven, verifiable track record. Knowledge of all types of portfolio. Will relocate
Email: cmate@nac.net
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
* http://hopewellvalleyvineyards.com/vineyard.html
You can also rent their villa in Tuscany:
http://hopewellvalleyvineyards.com/villa.html
[headlines]
----------------------------------------------------------------
Alan Fern, Sovereign Bank, Negative Press
Archives--- July 5, 2000
“- Allan Fern Speaks Out
“Thank you for including me on your daily e-mails. I wanted to wait a couple weeks before commenting. This is my 22nd year in the leasing industry and I have seen many changes. I must confess that I am a little taken back by the amount of negative press our industry is receiving.
“Yes, funding sources are going out of business, and yes, sources are reevaluating their game plans, but this is all positive. Our industry cleanses itself every 7-10 years. Think back to the funding sources that some of you did business with in 1991. Some are out of business. Some are partnering with the broker and lessor community to help maximize profits.
“As a Vice President of a new aggressive funding source, we try and accent the positive events of leasing. A broker still has the ability to process A paper through D paper. Application only programs are easily available including our hard asset to $100,000 at 10.75%. I have always thought it was a privilege being in our industry.
“The friendships and business acquaintances that I have managed to cultivate have been with me for over 15 years.
“Let's stop complaining and move forward with what we do best. Generate leads and fund.
“Alan Fern
amfern@sovereignbank.com “
[headlines]
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### Press Release ###########################
Equipment Leasing Association's Monthly Leasing Index
Shows Favorable Performance in May
Arlington, —The Equipment Leasing Association (ELA) released its Monthly Leasing Index (MLI-25) for May. The MLI-25, a monthly survey of equipment leasing activity and performance as reported by 25 companies, shows positive performance overall.
Originations were up more than five percent for the month, totaling $5.9 billion in new business volume for both equipment leases and loans. Portfolio quality remained strong with very manageable delinquencies and low loan losses. In fact, charge-offs as a percentage of net lease receivables, .39 percent, is identical to the previous period.
The total number of employees rose slightly in May to 10,793 from April's 10,630.
May's credit approval ratios dropped slightly from April, coming in at 79 percent compared with 83 percent the prior month.
Ralph Petta, Vice-President of Industry Services
“MLI-25 data once again paint a favorable picture of a financially healthy commercial equipment leasing and financing industry,” said Ralph Petta, ELA's VP-Industry Services, who oversees compilation of the data. “Durable goods orders for capital goods increased in May as well, so we continue to see robust investment spending, which is reflected in the MLI-25 numbers.”
The ELA provides a variety of studies, reports, and market analyses covering the $220 billion equipment leasing and finance industry. To access this and other industry information, visit the ELA website at http://www.elaonline.com/Research/
or call Dean Frutiger at (703) 516-8380.
About ELA
Organized in 1961, the Equipment Leasing Association (ELA) is the premier non-profit association representing companies involved in the dynamic equipment leasing and finance industry to the business community, government and media. As the voice of the leasing industry, which is directly responsible for generating a minimum of three million jobs and $75 billion in GDP to the economy annually, ELA promotes the forecasted $220 billion industry as a major source of funds for capital investment in the United States and abroad. Headquartered in Arlington, VA, ELA has more than 750 member companies and a staff of 25 professionals. For more information on ELA, please visit www.ELAOnline.com.
ELA MLI-25 Participants
ADP Credit Corporation
Amsouth Leasing Corporation
Bank of America Leasing
Bank of the West
Canon Financial Services
Caterpillar Financial Services Corporation
CIT
De Lage Landen Financial Services
First American Equipment Finance
GreatAmerica Leasing Corporation
Hitachi Credit America
HP Financial Services
Irwin Financial
John Deere Credit Corporation
Key Equipment Finance
LaSalle National Leasing Corporation
Marlin Leasing Corporation
National City Commercial Corp.
RBS Asset Finance
Siemens Financial Services
US Bancorp Leasing & Financial
US Express Leasing
Verizon Capital Corp/Verizon Credit
Volvo Financial Services
Wells Fargo Equipment Finance
[headlines]
### Press Release ###########################
--------------------------------------------------------------
NACM Index: Business Continues to Improve
The service section again buoyed the manufacturing sector into a seasonally adjusted improvement over May, with the significance of collections being up, according to the National Association of Credit Managers monthly survey.
Many economists see the nation's manufacturing sector expansion at a slower rate than expected in June as negative news. They also worry about construction spending, which plunged in May, the price of oil, and US auto makers not selling cars.
With the job report due to this Friday, many analysts see increasing sluggishness in the economy. They believe the Federal Reserve should not have raised the prime rate last month. They believe the Fed should definitely pause in its credit-tightening regime in August.
The NACM sees a more robust economy as apparently the Federal Reserve also sees it as well as the ELA economic index which showed a five percent increase over the previous month.
“Dollar Amount Beyond Terms and Accounts Placed for Collection showed the strongest improvement,” Dan North, Chief Economist with credit insurer Euler Hermes ACI, said, adding , “ (it) suggests that customers have experienced an improvement in cash flow.” While the CMI continues to indicate economic expansion, it is important to note that other than last month's trough of 54.9, the Index has not been lower than this since last October. “This data suggests that while the economy is still growing, the rate of that growth is declining,” summarizes North.
Similarly, in its statement accompanying the 25 bps increase in the Fed Funds Rate on June 29th, the Federal Open Market Committee noted that “Recent indicators suggest that economic growth is moderating from its quite strong pace earlier this year; partly reflecting a gradual cooling of the housing market and the lagged effects of increases in interest rates and energy prices.” “In other words,” said North, “as the Fed and the CMI indicate, the three major headwinds on the economy are starting to take effect.”
Manufacturing was up compared to the previous month, but not one year ago.
“The seasonally adjusted Combined Index rose 0.7% on a year-over-year basis, with a 1.1% increase in the service sector and a 0.3% increase in the manufacturing sector,” said North. “Overall, seven of the 10 components rose for the year, suggesting modest improvement on top of already positive business conditions.”
The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy. www.nacm.org.
[headlines]
----------------------------------------------------------------
Real Estate Loan Spreads, Property Value Disconnected
ABSnet
Commercial real estate loan spreads do not reflect the volatility in the underlying real estate markets. "Property market risk is a major factor driving credit performance of the loans backing commercial-mortgage backed securities and of the securities themselves, so loan spreads should incorporate appropriate pricing for that risk," said Sally Gordon, senior v.p. at Moody's Investors Service. "Contrary to what one might expect, initial loan spreads do not proportionately capture, reflect or anticipate variability in property market risk."
A Moody's study covered 50-60 cities and paired each city with the four major property types--office, retail, multifamily and industrial--for 221 markets for 2003-2005. While the markets ranged from groups whose values fell by more than 10% to groups whose value rose by more than 50%, average loan spreads stayed within a 13-basis point range, Gordon said. Conventional wisdom would have that initial loan prices should include premium for markets that are more volatile or likely to decline, but loans spreads in riskier markets were very similar to those in less risky markets, she noted.
[headlines]
----------------------------------------------------------------
UAEL Letter of Support/Tax Case
Memo
Members of the United Association of Equipment Leasing
Subject:
Tax Case Pending Before the California Board of Equalization; UAEL Letter of Support
Dear UAEL Member:
As part of your UAEL membership benefits, UAEL informed you by email on April 25, 2006 of a sales tax case which was then scheduled for hearing on May 17, 2006 before the California Board of Equalization ("BOE"), which may be important to you and involves Pacifica Capital, one of our long-time members. The hearing has been rescheduled for July 18, 2006. Pursuant to the decision of your Board of Directors, UAEL has filed comments in support of Pacifica Capital's position, which will benefit all of our members. You can view UAEL's comments at
http://leasingnews.org/PDF/boe_letter.pdf
Full story at:
http://www.leasingnews.org/archives/June%202006/06-07-06.htm#tax
[headlines]
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[headlines]
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Top Stories--June 26-30
Here are the top ten stories most "opened" by readers last week.
(1) Kropschot helps Orix Vendor Finance Group go to Equilease
http://www.leasingnews.org/archives/June%202006/06-28-06.htm#krop
(2) Archives---June 30, 2000
Warren/Doyon No Longer at Totalfunding
http://www.leasingnews.org/archives/June%202006/06-30-06.htm#archive
(3) Funders Raise rates before Announcement
http://www.leasingnews.org/archives/June%202006/06-30-06.htm#rates
(4) Sales Makes it Happen--by Gerry Egan
A Critical Sales Tool Too Often Ignored
http://www.leasingnews.org/archives/June%202006/06-28-06.htm#sales
(5) “ Commercial Equipment Leasing in Community Banks”
by Terry Winders, CLP
http://www.leasingnews.org/archives/June%202006/06-26-06.htm#cel
(6) Fred McDonald at LEAF Financial
http://www.leasingnews.org/archives/June%202006/06-28-06.htm#leaf
(7) HP Financial Memo: Kendall “bye,” Adams/Olson “hello”
http://www.leasingnews.org/archives/June%202006/06-26-06.htm#hp
(8) Capital City: “Broker/Lessor” list
http://www.leasingnews.org/archives/June%202006/06-26-06.htm#broker
(9) Story Credit Lessors
http://www.leasingnews.org/archives/June%202006/06-26-06.htm#story
(10) Mortgage Rate Hits another High
http://www.leasingnews.org/archives/June%202006/06-30-06.htm#high
Not included in the top ten, this "extra" news story, first with this news in the United States:
FTC $90 Million NorVergence Officer Settlements
http://www.leasingnews.org/archives/June%202006/06-26-06-Flash.htm
[headlines]
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Classified Ads---Help Wanted
Account Executive
|
Exp. Account Executive
Salt Lake City, Utah
Intermediaries--Background in sales/leasing and/or finance required/credit experience preferred. Salary plus commission. Fax resume: 801-733-2363 or email: clong@acccapital.com
|
|
|
Account Managers
 "Specializing in Equipment Financing"
Charlotte * Los Angeles * New York * Phoenix
|
National Account Managers
60% com./30% res. APP only to $150,000. No industry/geo restrictions. Tremendous flexibility/freedom: your home office or our regional offices. bjohnson@alliancecap.com
|
|
|
Sales Manager
|
Inside Sales Manager
Troy, MI
Proven in sales, prospecting and closing
skills. Must know how to lead and
grow our sales team. Send resumes to htischer@leasecorp.com
|
|
|
Sales Manager
|
Sales Manager
Costa Mesa, CA
Responsibilities include managing and directing marketing staff from solicitations through credit submission and doc signing.
Email: sltidland@goldenwestfinance.com
|
|
[headlines]
----------------------------------------------------------------
Sales Make it Happen
Depends on which corner your view is coming from...
by Terry Winders, CLP
When making a presentation to a prospective lessee, you may be asked the differences in the various leases.
It may appear your potential client only wants only one answer to every set of lease questions, when, in fact, there are multiple answers depending on the nature of the question and the difference between legal, tax, and accounting.
While it is not the smartest sales ploy to pretend to be a professional accountant, I recommend using the metaphor of a four-corner intersection ----with a person standing on each corner when three cars have an accident in the center of the intersection. Each person observed the accident, but from a different corner thus from a different point of view.
Each point of view is correct from the angle of the observer ---but will be different from each other. The words and phrases from both accounting rules and income tax requirements appear to look the same; however, they have a different perspective for the outcome.
You can treat a lease different on your financial statement than on your tax return. Each has an advantage on how the rules are applied.
The old adage that it is the “use” of the equipment that makes the profit, not the ownership is the key. In situations where the lessee can take advantage of the depreciation allowance, the “capital lease” may be the best approach. If alternate minimum tax issues or the company has already utilized its allowance with loss carry forwards, start-up costs, then an operating lease may be the way to go.
Or a flexible arrangement that at the end of the year the accountant can make that decision, may be another alternative.
By definition, equipment leasing is a financial product that deals with asset ownership in many different ways. When you say that you own something, what does that really mean? We purchase many things during our lives but the way we approach each purchase varies with the purchase. A car, truck, or transportation equipment requires a certificate of ownership; a title. This is also true for airplanes, boats, railcars and mobile homes. These assets are called titled personal property . However if we purchase a sofa, desk, computer, or office equipment there is no certificate of ownership. This type of asset is called untitled personal property or tangible property .
Tangible property is not supported by any title so the owner obtains control and ownership with a “bill of sale” and “possession”. Many professionals define ownership in personal property, as having “title” even though there is no actual title instrument. Therefore, as we start we can see that the rules we are asked to follow are going to be different depending on what type of asset is going to be leased.
The Federal government and most State governments are interested in taxing the profits that come from the “use” of the equipment. Therefore the Internal Revenue Service has established rulings to determine who is the true user and will allow capital recovery benefits (depreciation) to anyone using the equipment for 80% or more of its “useful life,” regardless of legal ownership .
These rules are defined by “useful equipment life” (the term of time the equipment can be used by some business, some where, to help create a profit) and proving who will gain from the equipments “use” and how much of that “use” has been controlled by the user.
The legal system (UCC) on the other hand has to define who has the rights to the equipment (ownership or title). This legal approach includes rules on how an asset is pledged to a lender, or owned by a Lessor. The legal system is therefore said to be interested in the “title” aspects of the equipment, to determine who has ownership rights.
For accounting purposes a different problem emerges. Who has the right to place the asset on their balance sheet as an owned asset? It is difficult to place an asset on the Lessee's balance sheet if it appears that the Lessor owns it, so the accountants have decided to value the “possession” of the asset and make it equal to the present value of the payments the Lessor requires of the customer. How the rent payments impact the income statement will also be viewed in relation to what type of lease transaction the lease “is” (classification) according to an accounting approach.
You see, after all, it depends on which corner of the intersection your view is coming from.
Terry Winders, CLP
Lease training and Consulting
502-327-8666
leaseconsulting@msn.com |
[headlines]
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eLeasing- aggregate funding sources
( Soley eLease brokers/online brokers/super brokers )
Top eLeasing companies as ranked by employees and volume
|
Rank |
Company Name
Year Founded |
Employees |
CEO |
Additional Services Offered |
Yearly Volume |
Major Clients |
|
1 |
Captara
1998
(formerly puremarkets.com,
last year
raised an addition $4 million and evidently
emphasizing new products.) |
70 |
Michael Caglarcan |
advisory service, online marketplace and web-based tools, providing access to both leases and secured loans |
N/R |
N/R |
|
2 |
Emarketcapital.com
2000
(formely known asleaseexchange.com
1999) |
21 |
Jonathan Moran |
N/R |
N/R |
Gerber Scientific, HPM, Barco Inc., Mellon Leasing Corporation, GMAC Mortgage Equipment Finance Group. |
|
3 |
Leasing.com
N/R |
14 |
C.Allen Rice |
N/R |
N/R |
N/R |
|
4 |
Efinance.com
1999 |
5* |
Reid Rutherford |
N/R |
N/R |
NEC, Costco, eScout |
|
5 |
Govlease.net
N/R |
N/R |
N/R |
N/R |
N/R |
N/R |
[headlines]
---------------------------------------------------------------
### Press Release ###########################
Netsol Technologies completes Acquisition of U.S. Based McCue Systems
Accretive Acquisition Expected to Drive Top and Bottom Line Growth and Establish U.S. Market Presence
CALABASAS, CA – – NetSol Technologies, Inc. (NASDAQ:NTWK), a developer of proprietary software applications and provider of information technology (IT) services, announced it has completed its acquisition of Burlingame, California-based McCue Systems Inc., a leading provider of lease and loan portfolio management software for banks, leasing companies and manufacturers.
“We are pleased to announce that we completed our acquisition of McCue Systems on June 30, our fiscal 2006 year end,” said NetSol CEO Naeem Ghauri. “The ability to identify, engage and acquire a market leader such as McCue is a testament to the expertise of our team and their dedication and ability to scale the business. We believe this is a major step toward establishing a U.S. presence, as well as market penetration into a region that represents a highly profitable sector of the global asset leasing industry.”
“This acquisition further solidifies NetSol Technologies' standing as a world class provider of software solutions for the equipment and vehicle leasing industry,” said McCue Systems President, CEO and founder John McCue. “Our client base of global brands, from Cisco to Hyundai to Volkswagen, will be well served by the technology leadership, business acumen, and professional services expertise now available through the combined organization. We are pleased to be counted among the NetSol family.”
Under the terms of the acquisition agreement, NetSol acquired McCue Systems for approximately $8.5 million. Payment consisted of 50 percent cash with the balance paid through the issuance of NetSol's common stock carrying Rule 144 restrictions. Additionally, there is a 50 percent deferred component based on an earn-out formula over McCue's 2006 and 2007 fiscal years, ending December 31, 2006 and December 31, 2007, respectively. The company anticipates paying the balance of the consideration in two traunches scheduled over the next 24 months.
“We are extremely pleased to have completed the McCue acquisition before the close of our fiscal year end,” said NetSol Chairman Najeeb U. Ghauri. The acquisition of an established U.S.-based software company is a significant step forward for NetSol, as we now have a strong marketing and solution delivery platform in the largest leasing and finance market in North America. We are also delighted to announce that John McCue will continue in his role as CEO and President of McCue Systems. We look forward to working closely with John as we focus on growing the business in the U.S. and abroad.”
NetSol has reported seven consecutive quarters of revenue growth and profitability, with net revenue of $14 million for the first nine months of fiscal 2006, a 76 percent increase over the comparable period last year. McCue Systems reported revenue of approximately $5.6 million with net profit of approximately $655,000 for fiscal 2005, ended December 31.
About McCue Systems
With over 30 years of experience in developing business solutions for the equipment and vehicle leasing industry, McCue Systems Inc. is the leading provider of lease/loan portfolio management software for banks, leasing companies and manufacturers. Its flagship product, LeasePak, simplifies lease/loan administration and asset management by accurately tracking leases, loans and equipment from origination through end-of-term and disposition.
McCue Systems leads the leasing technology industry in the development of Web-enabled and Web-based tools to deliver superior customer service, reduce operating costs, streamline the lease management lifecycle, and support collaboration with origination channel and asset partners.
By harnessing the most advanced technologies, McCue Systems can offer the right operating platform for almost any enterprise. LeasePak can be configured to run on HP-UX, SUN/Solaris or Linux, as well as for Oracle and Sybase users. And for unmatched scalability, McCue Systems offers the LeasePak Bronze, Silver and Gold Editions for systems and portfolios of virtually all sizes and complexities. McCue Systems' solutions set the industry standard for reliability, providing the equipment and vehicle leasing infrastructure at leading Fortune 500 banks and manufacturers, as well as for the industry's leading independent lessors, including Cisco, Hyundai, JP Morgan/Chase, ORIX, and Volkswagen Credit.
The leasing experts at McCue Systems work closely with lessors to put the company's leasing expertise to work to streamline lease operations and enhance customer retention at every stage of the lease lifecycle. For more information, visit www.mccue.com .
About NetSol Technologies, Inc.
NetSol Technologies is an end-to-end solution provider for the lease and finance industry. Headquartered in Calabasas, CA, NetSol Technologies, Inc. operates on a global basis with locations in the U.S., Europe, East Asia and Asia Pacific. NetSol helps its clients identify, evaluate and implement technology solutions to meet their most critical business challenges and maximize their bottom line. By utilizing its worldwide resources, NetSol delivers high-quality, cost-effective IT services ranging from consulting and application development to systems integration and outsourcing. NetSol's commitment to quality is demonstrated by its achievement of both ISO 9001 and SEI (Software Engineering Institute) CMM (Capability Maturity Model) Level 4 assessment. For more information, visit NetSol Technologies' web site at www.netsoltek.com.
Investor Relations:
Marty Tullio or Mark D. Tullio
McCloud Communications, LLC
949.553.9748
marty@McCloudCommunications.com
mark@McCloudCommunications.com
NetSol Technologies:
Najeeb U. Ghauri, Chairman, or Tina Gilger, CFO
818.222.9195
najeeb@netsoltek.com
tina@netsoltek.com
McCue Systems:
Andrew Lea, VP, Corporate Communications
McCue Systems, Inc.
650.348.0650 ext. 1171
andrewl@mccue.com
[headlines]
### Press Release ###########################
Former Congressman Kenneth E. Bentsen, Jr. Named President
of the Equipment Leasing Association
Arlington, VA—The Equipment Leasing Association (ELA) on Monday announced that former U.S. Representative Kenneth E. Bentsen, Jr. assumed leadership of the organization as president effective July 1.
He joined ELA from his previous position as a Managing Director at Public Strategies, Inc. of Austin, Texas.
Bentsen succeeds Michael Fleming, who retired as president after serving in that position for the last 27 years (and has joined the staff of The Alta Group. editor ). Bentsen is only the second president to serve since the association's founding.
“Ken Bentsen is exactly what we were looking for in a successor to Michael Fleming. He has an extensive background in public policy and service, plus the business acumen and leadership skills to lead the ELA into the future," said Paul A. Larkins, chairman of the ELA's board of directors and president and CEO of Key Equipment Finance. "I have had the opportunity to work with Ken over the last few months, and am more enthusiastic than ever to see him bring his perspective and energy to our industry."
“Equipment leasing and finance plays a critical role in providing capital for manufacturers, businesses and governmental entities,” Bentsen said. “It is essential that the significant role equipment finance plays in the business economy be understood by policy makers, the media and the public.”
Bentsen represented the 25th District of Texas in the U.S. House of Representatives from 1995 to 2003. During his Congressional tenure, he earned respect for his expertise in financial, fiscal and healthcare policy.
As a senior member of both the House Budget and Financial Services Committees, Bentsen helped craft the legislation to modernize the nation's banking and securities laws and the Sarbanes-Oxley Act. Bentsen also authored and co-authored many measures related to healthcare, thrift savings plans, international trade and the nation's response to terrorism, particularly with respect to banking and insurance.
Prior to serving in Congress, Bentsen was an investment banker in Houston and New York, specializing in municipal and housing finance. He was a senior banker for numerous structured-finance, mortgage-backed, special purpose and general government transactions.
About ELA
Organized in 1961, the Equipment Leasing Association (ELA) is the premier non-profit association representing companies involved in the dynamic equipment leasing and finance industry to the business community, government and media. As the voice of the leasing industry, which is directly responsible for generating a minimum of three million jobs and $75 billion in GDP to the economy annually, ELA promotes the forecasted $220 billion industry as a major source of funds for capital investment in the United States and abroad. Headquartered in Arlington, VA, ELA has more than 750 member companies and a staff of 25 professionals. For more information on ELA, please visit www.ELAOnline.com.
[headlines]
### Press Release ###########################
UAE national Jassem Al-Shikar has recently been appointed
Business Development Manager at Oasis International Leasing, PJSC.
A former business development officer with HSBC Abu Dhabi, Al-Shikar will be out actively talking to companies about leasing as a financial tool and benefit to business. 'The timing for business expansion here in the UAE could not be better,' Al-Shikar explains, 'Companies are becoming more transparent and open to new strategies and business concepts that are characteristic of the best global companies.'
Jassem Al-Shikar
'Leasing is a cost-effective solution to financing equipment and infrastructure acquisition. I will be introducing the concept of leasing as a specialized financial solution to local and regional businesses and how it can benefit them.'
Gordon Dixon, CEO of Oasis Leasing says Al-Shikar will have the full backing of the company as he speaks to businesses about possible projects where leasing is a viable option.
'With his financial and marketing background, Al-Shikar has the necessary knowledge to help local businesses learn about the advantages of leasing big ticket items. He also has the personal skills and conviction to get his points across effectively. Oasis is pleased to have him representing us in the business community,' Dixon said.
A graduate of American University of Sharjah, with two years of college in the US, Al-Shikar did internships with the Central Bank as well as UNB before spending three years with HSBC. He says the experience gained in banking gave him the international outlook one needs to communicate with the many nationalities and cultures here in the Gulf. He hopes to make good use of that perspective as he spreads the leasing message throughout the business community.
[headlines]
### Press Release ###########################
New International Siemens Financial Services Study
Raises Key Issues in Healthcare Finance Management
MUNICH, -- A new research paper from Siemens Financial Services, entitled "Healthcare Affordability - The Global Challenge" highlights the need for efficient use of capital in Western world healthcare systems. In order to make the wide range of existing systems comparable, the paper also calls for a simple method of measuring value for money from national healthcare regimes in Europe and the US. The paper has created a very basic starting-point. It suggests that Germany's healthcare system offers a comparably good return on investment in relation to other key European countries' and the US' healthcare systems - in terms of basic healthcare provision, life expectancy and cost. Moreover, the paper focuses attention on technology and equipment finance as an area which can be made more financially efficient in the short-term. It also shows the amount of capital that is 'frozen' in the system when equipment is bought outright rather than leased, hired or otherwise financed. The equivalent amount of this 'frozen' capital is estimated to be over EUR 10 bn in the main European economies and some EUR 20 bn or more in the US. The authors especially suggest extended use of tailor-made leasing and other forms of equipment financing solutions to meet technological, financial and medical requirements.
For further information on the research paper, please refer to the internet:
http://www.siemens.com/sfs -> News & Press
Contact
Siemens Financial Services
Press Office
Dr. Christian Kosch
80335 Munich
Phone: +49-89-636-36070
Fax: +49-89-636-35485
Email: christian.kosch@siemens.com
[headlines]
### Press Release ###########################
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News Briefs----
Fed Chair Bernanke's Should Look to this Friday's Job Report
http://www.nypost.com/business/bernankes_big_mistake_business_john_crudele.htm
Bank of America ups gifts in New England after acquiring Fleet
http://www.boston.com/news/local/massachusetts/articles/2006/07/02/
bank_of_america_ups_gifts_in_new_england_after_acquiring_fleet/
Growth of US by States
http://www.usatoday.com/news/nation/2006-07-04-us-population_x.htm
Chip Sales Jump 9.4% in May
http://www.usatoday.com/money/industries/technology/2006-07-03-chip-sales_x.htm
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You May have Missed---
Buffett Children Emerge as a Force in Charity
http://www.nytimes.com/2006/07/02/business/02buffettkids.html
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“Gimme that Wine”
Wineries in Alabama
http://www.al.com/news/birminghamnews/index.ssf?/base/news/
1151918510158440.xml&coll=2
More celebrities are pouring into wine business
http://www.twincities.com/mld/twincities/entertainment/14921661.htm
Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas/\
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
[headlines]
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Calendar Events This Day
Algeria: Independence Day
National holiday. Commemorates the day in 1962 when Algeria gained independence from France.
Cape Verde: National Day
Public Holiday. Commemorates independence from Portugal in 1975.
Isle of Man: Tynwald Day.
For more than 1,000 years, the people of the Isle of Man have gathered at Tynwald Hill at St. John's to hear new laws read out, to present petitions and two swear in the island's four coroners. Tynwald (a word of Norse extraction) is the name of the Manx parliament, which is the world's oldest continually held parliament. Held annually on July 5, unless that date falls on a weekend, in which case the event occurs the following Monday.
Slovakia: Saint Cyril and Methodius Day .
This day is dedicated to the Greek priest and scholars form Thessalonniki, who were invited by Prince Rastislav of Great Moravia to introduce Christianity and the first Slavic alphabet to the pagan people of the kingdom in AD 863
Venezuela: Independence Day .
National holiday. Commemorates Proclamation of Independence from Spain in 1811. Independence was not achieved until 1821.
Workaholics Day
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Today's Top Event in History
1776-- “The Declaration of Independence” was printed by John Dunlop in a folio broadside and distributed this day. On July 4, Congress, acting as a “Committee of the Whole,” approved the Declaration and ordered that it be printed and that copies be “sent to the several assemblies, conventions and committees or counsels of safety and to several commanding officers of the Continental troops that it be proclaimed in each of the United States and at the head of the army.” The draft document, although approved on July 4, was signed only by John Hancock and Charles Thomason, the president and secretary. The names of the signers were withheld from the public for more than six months because, if independence were not achieved, their treasonable act might result in their death. The actual Declaration of Independence was signed by the members of the Continental Congress on August 2, 1776.
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This Day in American History
1776-- “The Declaration of Independence” was printed by John Dunlop in a folio broadside and distributed this day. On July 4, Congress, acting as a “Committee of the Whole,” approved the Declaration and ordered that it be printed and that copies be “sent to the several assemblies, conventions and committees or counsels of safety and to several commanding officers of the Continental troops that it be proclaimed in each of the United States and at the head of the army.” The draft document, although approved on July 4, was signed only by John Hancock and Charles Thomason, the president and secretary. The names of the signers were withheld from the public for more than six months because, if independence were not achieved, their treasonable act might result in their death. The actual Declaration of Independence was signed by the members of the Continental Congress on August 2, 1776.
1810—Phineas Taylor “P.T.” Barnum, promoter of the bizarre and unusual. Barnum's American Museum opened in 1842, promoting unusual acts including the Feejee Mermaid, Chang and Eng (the original Siamese twins) and General Thom Thumb. IN 1850 he began his promotion of Jenny Lind, “The Swedish Nightingale,” and parlayed her signing talents into a major financial success. Barnum also cultivated a keen interest in politics. A founder of the newspaper, Herald of Freedom, he wrote outspoken editorials that resulted not only in lawsuits but also in at least one jail sentence. He 1852 he declined the Democratic nomination for governor of Connecticut but did serve two terms in the Connecticut legislature beginning in 1865. He was defeated in a bid for US Congress in 1966 but served as mayor of Bridgeport, CT from 1875 to 1876. In 1872 “The Greatest Show on Earth” opened at Brooklyn, NY; Barnum merged with his rival J. A. Bailey in 1881 to form the Barnum and Bailey Circus. P.T. Barnum was born at Bethel, CT, and died at Bridgeport, CT. April 7, 1891.
1851 -When outlaw Joaquin Murrieta and his brother were arrested in Murphys, California for robbery, he was tied to a tree next to the jail and brutally beaten. His brother was hanged from the same tree. Joaquin's wife was dragged out into the middle of the street and gang-raped. He went to the county sheriff to file charges against the mobsters and was informed that in California it was not illegal for whites to rape Mexican women or for whites to kill Mexicans. He was advised to "forgive and forget".
1862--The African-American troops were organized by Maj. Gen. David Hunter in the Union's First Carolina Regiment. Many of the soldiers were former slaves.
1864- Horace Greely, eager for Pres. Lincoln to open peace negotiations, advised him that Confederate emissaries from Jefferson Davis were in Canada. Lincoln authorized Greely to open negotiations with the men at Niagara Falls, N.Y. The negotiators were found to be without proper authority, and the peace attempt failed.
1865 - British preacher William Booth formed the Christian Mission, later renamed the Salvation Army, in London. Determined to assail poverty and religious indifference with the efficiency of a military organization, Booth modeled his group after the British army, labeling ministers "officers" and new members "recruits." The Salvation Army's officers are ordained ministers who have vowed to serve the Army for life. The Army has units in over 80 countries.
1882 -A trace of snow at Newton, NJ and other parts of the northeast.
1891-Severe hailstorm hits Rapid City, SD. Sixteen horses were killed by hail, and many more have to be put to death due to injuries from the hailstorm.
1894 -- The Pullman Strike of 1894. Federal government andtroops interfere with a peaceful labor strike against the Pullman Palace Car Company, which had drastically reduced wages. Federal troops killed 34 American Railway Union members in the Chicago area attempting to break a strike, led by Eugene Debs, against the Pullman Company. Debs & several others were imprisoned for violating injunctions, causing disintegration of the union. Despite repeated protests by Illinois Governor Altgeld, President Grover Cleveland continued to send in federal troops. The reaction of the strikers to the appearance of the troops was that of outrage.
1900-Lightning strikes Standard Oil refinery at Bayonne, NJ. A massive 3 day fire resulted with damages over $2 million.
1904 - $1 million damage from a powerful thunderstorm over Boston Harbor
1924—Trombonist Vern Friley born Marshall, MO.
1932--A massive F4 tornado struck Washington, KS destroying 50 homes and killing 5.
1934 -- San Francisco's "Bloody Thursday," as police shoot down striking longshoremen & supporters at Rincon Hill, killing two & injuring over 100. The governor had called in the National Guard to suppress strikers, & rioting ensued. The known casualties include 43 clubbed, gassed, and stoned, 30 treated for bullet wounds.
1935—The National Labor Relations Act (the Wagner Act). This bill guaranteed workers the right to organize and bargain collectively with their employers. It also prohibited the formation of company unions. An enforcement agency, the National Labor Relations Board, was created by the act.
1936--- 120ø F (49ø C), Gannvalley, South Dakota (state record)
1937 ----117ø F (47ø C), Medicine Lake, Montana (state record)
1938--- Herb Caen's 1st column in SF Chronicle
http://www.sfgate.com/columnists/caen/tribute/
http://www.gpaulbishop.com/GPB%20History/GPB%20Archive/Section%20-%202/
H.%20Caen/h__caen.htm
1940—Birthday of alto sax player Arthur Blythe, Los Angeles.
http://www.vh1.com/artists/az/blythe_arthur/bio.jhtml
1943 - On the NBC Blue radio network, "The Adventures of Nero Wolfe" debuted. Nero Wolfe was "the detective genius who rates the knife and fork the greatest tools ever invented by man." The "gargantuan gourmet" as he was nicknamed stayed on the air until 1951.
1943 - Orchestra leader Harry James and screen actress Betty Grable were married on this date in Las Vegas. It was world wide news at the time as both were famous celebrities, including Betty Grable the pin-up girl of all US GI's.
1946—Bikini debuted: the skimpy two-piece bathing suit created by Louis Reard debuted at a fashion show in Paris. It was named after an atoll in the Pacific where the hydrogen bomb was first tested. It was his sense of humor that he was dropping the largest bomb on the fashion industry. It was an immediate success in France, followed by other resort countries, but slow to take hold in the United States until the 1960's.
1946-Wood Herman's First Herd completes 39 weeks on Wildroot radio show.
1946----Top Hits
They Say It's Wonderful - Frank Sinatra
The Gypsy - The Ink Spots
All Through the Day - Perry Como
New Spanish Two Step - Bob Wills
1947—Larry Doby became the first African-American to play n the American League when he appeared as a pinch-hitter for the Cleveland Indians in a game against the White Sox. The Indians lost, 6-5.
1947 -- Tex Williams #1 hit "Smoke! Smoke! Smoke! (That Cigarette)" makes the "Billboard" country charts for 23 weeks (Capitol's first million-seller).
1948 - On CBS "My Favorite Husband," with Lucille Ball, became the redhead's first regular radio program. Lee Bowman, and later, Richard Denning would co-star with Lucy as "two people who live together and like it."
1950-Birthday of Hugh Anthony Cregg III, better known as singer Huey Lewis born New York, New York. He forms Huey Lewis & the News in San Francisco in 1980. The group's biggest hit is "Stuck with You," a No. 1 song for three weeks in 1986. "The Power of Love," the group's million-selling No. 1 hit from 1985, is featured in the film "Back to the Future."
1951 - In Murray Hill, New Jersey, Dr. William Shockley announced that he had invented the junction transistor.
1952- the first vice-presidential candidate who was an African-American woman was Charlotta A. Bass, who was nominated by the Progressive Party at its convention in the International Amphitheatre, Chicago, IL.
1954----Top Hits
Little Things Mean a Lot - Kitty Kallen
Hernando's Hideaway - Archie Bleyer
Three Coins in the Fountain - The Four Aces
Even Tho - Webb Pierce
1954 - At his first session for Sam Phillips and Sun Records in Memphis, Elvis Presley recorded "That's All Right (Mama)" and "Blue Moon of Kentucky.".
1962----Top Hits
I Can't Stop Loving You - Ray Charles
The Stripper - David Rose
Palisades Park - Freddy Cannon
Wolverton Mountain - Claude King
1968-The Philadelphia 76ers traded cener Wilt Chamberlain to the Los Angeles Lakers for three players, Darrell Imhoff, Archie Clark and Jerry Chambers and an unannounced amount of cash.
1968-Promoter Bill Graham opens The Fillmore West in San Francisco.
1969-- Joseph Louis Searles II, a partner in the brokerage firm of Newburger, Loeb and Company, New York City, became the first African-American elected as a member of the New York Stock Exchange. The first African-American director of the New York Stock Exchange was Dr. Jerome Heartwell Holland, retired U.S. ambassador to Sweden and one of the 10 public nominees on the 21-member board, who was nominate don June 6, 1972, and elected on July 5.
1970----Top Hits
The Love You Save - The Jackson 5
Mama Told Me (Not to Come) - Three Dog Night
Ball of Confusion - The Temptations
He Loves Me All the Way - Tammy Wynette
1970-The temperature at death Valley hits 120 degrees following a morning low of 103. Who says it gets cold in the desert at night?
1972—The first African-American director of the New York Stock Exchange was Dr. Jerome Heartwell Holland, retired U.S. ambassador to Sweden and one of the 10 public nominees on the 21-member board, who was nominated on June 6, 1972, and elected this day.
1973--- "Live and let Die," James Bond film premiers
http://movie-reviews.colossus.net/movies/l/live_let.html
1975--- Arthur Ashe wins men's single championship at Wimbeldon.
http://espn.go.com/tennis/s/2003/0205/1504540.html
1978----Top Hits
Shadow Dancing - Andy Gibb
Baker Street - Gerry Rafferty
It's a Heartache - Bonnie Tyler
It Only Hurts for a Little While - Margo Smith
1983- Placido Domingo's performance of Puccini's opera La Bohème had one and one half hours of applause and 83 curtain calls at the State Opera house in Vienna, Austria.
1985-- 117ø F (47ø C), St George, Utah (state rec) (103ø spread, UT 1985)
1986 - Madonna's hit single, Papa Don't Preach, debuted on Billboard's Top 40, and eventually held onto the Number 1 spot for 2 weeks. It remained on the charts for a total of 13 weeks.
1986----Top Hits
There'll Be Sad Songs (To Make You Cry) - Billy Ocean
Holding Back the Years - Simply Red
Who's Johnny - El DeBarge
Everything that Glitters (Is Not Gold) - Dan Seals
1986 - Janet Jackson finally took "Control" and got all the way to the top of U.S. LP charts. She was the youngest (19 years old) to hit number one with an LP since Little Steve Wonder ("The 12 Year Old Genius") in 1963. Produced by Jimmy Jam & Terry Lewis, "Control" was her third album, but her first to hit number one. Tracks from the LP, "What Have You Done for Me Lately" became Jackson's first top-five single and "Nasty" made it to number three.
1986--Boise, ID drops to a crisp 35, the coldest ever for the month.
1987 - Severe thunderstorms raked south central Kansas for the second morning in a row. Thunderstorm winds again gusted to 80 mph at Clearwater, and in the Wichita area reached 100 mph. Twenty-five persons were injured at a trailer park at El Dorado Lake.
1988 - Afternoon and evening thunderstorms spawned eleven tornadoes in Montana and three in North Dakota. Baseball size hail was reported at Shonkin, MT, and wind gusts to 85 mph were reported south of Fordville, ND. Twenty cities in the north central U.S. reported record high temperatures for the date, including Fargo ND with a reading of 106 degrees. Muskegon, MI, equalled their July record with a high of 95 degrees.
1989 - The first episode of Seinfeld aired on NBC, starring Jerry Seinfeld, Michael Richards, and Jason Alexander.
http://www.seinfeld-fan.net/
http://www.movieprop.com/tvandmovie/Seinfeld/index.htm
http://www.sonypictures.com/tv/shows/seinfeld/tvindex.html
1989 - Remains of Tropical Storm Allison dumps heavy rains with 6.37 in 6 hours at Wilmington, DE.
1989--Moisture from what once was Tropical Storm Allison triggered thunderstorms over the Middle Atlantic Coast Region, which deluged Wilmington, DE, with a record 6.83 inches of rain in 24 hours, including 6.37 inches in just six hours. Up to ten inches of rain was reported at Claymont, northeast of Wilmington. July 1989 was thus the wettest month in seventy years for Wilmington, with a total of 12.63 inches of rain. Alamosa CO reported an all-time record high of 94 degrees, and Pierre, SD, hit 113 degrees.
1993 - Arnold Schwarzenegger received a formal apology and an undisclosed, substantial amount in damages and legal costs from English journalist Wendy Leigh. Schwarzenegger sued Leigh after she had written a front-page article with the scorching headline "Hollywood Star's Nazi Secret," which appeared in the tabloid News of the World in February, 1988. The article claimed that the actor was an admirer of German leader Adolf Hitler.
1993-Big rains deluged the plains as the one of the greatest floods in U.S. history began to unfold. 24 hour totals included 5.90 inches at Columbia, IA and 5.15 at Centralia, KS
1994 - Hootie and the Blowfish released their first LP, "Cracked Rear View". But it didn't zoom to the top of the charts. The group had to get lots of help from a guy named David Letterman before their album made it big. Letterman heard one of the tracks, "Hold My Hand", on the radio and invited the band to appear on "The Late Show". "Cracked Rear View" finally hit number one on May 27, 1995. By mid-1996, the album had sold more than 13 million copies in the U.S.
1998-Roger Clemens of the Toronto Blue Jays became the 11 th pitcher in major league baseball history to reach the 3,000 mark in career strikeouts when he fanned Randy Winn of the Tampa Bay Devil Rays in the 3 rd inning. The Blue Jays won, 2-1.
2005--- Passing Eddie Murray, Red Sox left fielder Manny Ramirez hits his 20th career grand slam, now the second-most in major league history. The Dominican Republic native trails only Yankee legend Lou Gehrig, who holds the major league record with 23.
3,000 Strikeouts Club
In Order By Most Strikeouts |
Name |
T |
SO |
Strikeout #3,000 Details |
Team |
Date |
Batter |
Opponent |
Nolan Ryan |
R |
5,714 |
Astros |
07-04-1980 |
Cesar Geronimo |
Reds |
Roger Clemens |
R |
4,502 |
Blue Jays |
07-05-1998 |
Randy Winn |
Devil Rays |
Randy Johnson |
L |
4,372 |
Diamondbacks |
09-10-2000 |
Mike Lowell |
Marlins |
Steve Carlton |
L |
4,136 |
Phillies |
04-29-1981 |
Tim Wallach |
Expos |
Bert Blyleven |
R |
3,701 |
Twins |
08-01-1986 |
Mike Davis |
Athletics |
Tom Seaver |
R |
3,640 |
Reds |
04-18-1981 |
Keith Hernandez |
Cardinals |
Don Sutton |
R |
3,574 |
Brewers |
06-24-1983 |
Alan Bannister |
Indians |
Gaylord Perry |
R |
3,534 |
Padres |
10-01-1978 |
Joe Simpson |
Dodgers |
Walter Johnson |
R |
3,508 |
Washington |
07-22-1923 |
Stan Coveleski |
Indians |
Phil Niekro |
R |
3,342 |
Yankees |
07-04-1984 |
Larry Parrish |
Rangers |
Fergie Jenkins |
R |
3,192 |
Cubs |
05-25-1982 |
Garry Templeton |
Padres |
Bob Gibson |
R |
3,117 |
Cardinals |
07-17-1974 |
Cesar Geronimo |
Reds |
Greg Maddux |
R |
3,052 |
Chicago |
07-26-2005 |
Omar Vizquel |
Giants |
Name |
T |
SO |
Team |
Date |
Batter |
Opponent |
Strikeout #3,000 Details |
3,000 Strikeouts Club |
http://baseball-almanac.com/pitching/pi3000c.shtml
Top 100:
http://www.baseball-almanac.com/pitching/pistrik1.shtml
Walter Johnson was the first member of the "3,000 Strikeouts Club" and the only member who is now deceased — imagine having all the remaining members on a signed ball!
Did you know that Steve Carlton and Randy Johnson are the only left-handed pitchers in Major League history with over three-thousand (3,000) strikeouts? The other eleven (11) strikeout kings are all right-handed hurlers.
Gaylord Perry and Don Sutton both belong to this elite group of three-thousand whiff pitchers, yet neither pitcher ever led their league in strikeouts even once during their entire Major League career.
Four Strike Outs in One Inning:
http://www.baseball-almanac.com/feats/feats19.shtml
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Baseball Poem
Five O'Clock High
Bases loaded,
top of the ninth,
two out
and a run behind.
The windup,
the pitch,
the ball,
the swing,
the hit,
the cheers,
then the boss
waking you up. |
Written by Robert L. Harrison
“Green Fields and White Lines”
Baseball Poems
Published by McFarland and Company
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SuDoku
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
http://leasingnews.org/Soduku/soduko-main.htm
[Headlines]
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