March 13, 2003

Headlines---

 

Pictures from the Past---1995---Schwartz/Hall

    Classified Ads---Outsourcing--- (free ads)

        Commercial Money Center---court filings/agreements

            California Finance Lender's Law-The Other Side of the Coin

                Nnovative Data Systems

                    There are Three Ways to Read "Leasing News"

                UAEL Spring Education Conference May 1-4

            Beware March 15: Diesel prices could soar, OPIS says

        ORIX Names Bill Fite EVP/Group Mgr.Equip. Finance

    News Briefs--

Sports Briefs---

 

Special Slide Presentation:

 How Bad is it?

 

 

#### Denotes Press Release

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Pictures from the Past---1995---Schwartz/Hall

 

 

“Standing: 1996 United Association of Equipment Leasing President Elect Oren Hal. Insert: Saturday keynote speaker Art Schwartz, ( originally a management service provider, then the first executive secretary of the organization.)”

November, 1995 UAEL Regional Reporter

[Headlines]

 

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Classified Ads---Outsourcing--- (free ads)

 

 

 

Backroom: All Locations

Are you a broker or a rep for a major lessor? Want to just market and leave the backroom an packaging functions to us? Call us.

Email:nationalbusinesscredit@yahoo.com

 

Back Office: Atlanta, GA. Let Tax Partners handle your sales and use tax compliance duties w/less risk and cost than in-house. Largest tax compliance firm in U.S. email:sales@taxpartners.com

 

Back Office: Portland, OR

Tired of paying and training a documentation person? Cut your expense and try outsourcing. Ideal for any part of the USA Call for information 503-492-3183. Email:Trina.Drury@verizon.net

 

Back Office: Northbrook, IL

Our staff of CPA's and lease professionals can handle any or all portfolio responsibilities incl. portfolio mgmt, invoicing, sales/property/income tax, accounting, etc. Email:ngeary@edwinsigel.com

 

Back Office: San Rafael, CA

We can run your back office from origination to final payoff. 30 years experience in commercial equipment lease and loan portfolio management. Email:gmartinez@phxa.com

 

Backoffice: Atlanta , GA. GlobalTech Portfolio Services provides world class lease, loan administration and asset management for equipment and vehicles. Current portfolios $1 billion. Contact Alan Zeppenfeld 678-816-2216 email:azeppenfeld@globaltechfinancial.com

 

Collections and Asset Management: Great References. Ability to liquidate entire portfolio with excellent results. email: hardesty@alltel.net

 

Collections - repossessions: Tampa, FL.

IRTC Contingencies: Commercial Collections- Skip Trace- Repossessions-judgment served- Investigations- Asset Remarketing& No Cost Warehousing East Coast USA.Call 813-467- 4324 ask for Robert or email to Robertmbs@covad.net

 

Collector: Near Boston, MA

My name is John Kenny. I have 14 years experience in leasing collections. I currently offer outsourced services to clients nationwide on a contractual, contingency basis.Email:ReceivablesMgmt@prodigy.net

 

Collector: Fountain Valley, CA

Commercial Collector with a track record of collecting lost leasing deposits and advance payments on unfunded deals. If you have been burned, we are the ones to call. 1-888-278- 0658 ext. 233. Email:jcasperson@omniusco.com

 

Collector: Saint Louis, Mo.

Complete commercial collection agency. Licensed bonded in all states and will out performed any other agency! Call 1-800-659- 7199 ext.315

email: jfloyd@lindquistandtrudeau.com

 

Full list available at: http://65.209.205.32/LeasingNews/JobPostingsOutsourcing.htm

[Headlines]

 

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Commercial Money Center---court filings/agreements

 

These are the links for the PDF files. Please be advised that some of the files are too big to be opened on a 56K modem. You may give it a try, as it depends

on how “clean” your telephone line is.

 

The actual terms are in Kipperman's Declaration as Exhibit "A". The

Motion makes for nice reading and is a readers digest version of the

terms.

 

The second link on this email is 161 pages long the size is 8.7M.

Just to let you know these are official public court documents:

http://www.leasingnews.org/PDFFiles/Finlayson%20Decl%20re%20Netbank%20Lakeland
%20Settlement.pdf

http://www.leasingnews.org/PDFFiles/Kipperman%20Decl%20re%20Netbank%20Lakeland
%20Settlement%20with%20Exhibits.pdf

http://www.leasingnews.org/PDFFiles/Motion%20re%20Netbank%20Lakeland%20
Settlement.pdf

http://www.leasingnews.org/PDFFiles/Notice%20of%20Hrg%20and%20Mtn%20re%20Lakeland
%20and%20NetBank%20Settlement.pdf

[Headlines]

 

 

 

California Finance Lender’s Law—The Other Side of the Coin

 

According to a Department of Corporation Public Information Officer Kim Melzer-Coveyou, the definition on whom should have a Finance Lender’s License “...depends on the intent of the parties. Each situation is different.”

 

To request the definition, an “interpretive opinion” is made on a “case-by-case”

basis. To request this “interpretive opinion,” here is the procedure and form to

follow in the State of California:

 

http://www.corp.ca.gov/commiss/rel61c.htm

 

Yesterday, you heard from lenders, super brokers, and brokers who did not

have a license, nor required it. Here is the other side of the coin:

 

Peter Eaton, CLP, Pentech Financial

 

 

 

“What follows is a Memo that is included in our standard New Broker Package.

Except for two business referral sources that were "grand fathered" in that

do not have a California Lenders Law License, all brokers that have referred

business to us with their client and equipment located in California are

required to show evidence of having the license or having applied for the

license.

 

“Our research indicates this is the proper procedure to be followed

under the current guidelines for those companies making consumer or

commercial loans. This does not apply to those companies doing only

commercial leases. However, since we structure loans and leases, depending

on the age of the equipment; we have determined that our referral sources

should be licensed under The California Finance Lenders Law. The reaction

to this in the broker and small lessor community is mixed. Some of my

sources have moved forward to become licensed and others have elected not to

become licensed.

 

“Apparently there are banks and funding sources in California that do not require their sources to be licensed as they write only leases.

 

“These guidelines are more clearly explained in the California

Code of Regulations. “

 

Anyone wishing more detail can call me at

408.874.5802.

 

Peter Eaton

peter@pentechfinancial.com

 

Memo

 

 

To: Pentech Intermediary Markets Group Referral Network

 

From: Peter Eaton

 

 

Effective immediately all individuals/sole proprietorships, corporations or other business entities referring business to Pentech Financial Services, Inc. will be required to have a California Finance Lenders Law License in order to submit lease transactions for companies or equipment located in California.

 

Those already in possession of a California Finance Lenders Law License should forward a copy to me at their earliest convince.

 

Those who have submitted an application for a California Finance Lenders Law License but have not received their approved license, should forward me a copy of their completed application at their earliest convince.

 

Those not currently in possession of a California Finance Lenders Law License should contact the Department of Corporations, State of California, 320 West Fourth Street, Los Angeles, CA 90013, # (213) 576-7690 to secure their application.

 

Please contact me if you have any questions.

 

 

From Ken Greene, Esq., California attorney

 

“ I learned that lesson the hard way! The most revealing test as to

whether equipment finance brokers in California must be licensed under our

Finance Lender's Act arises when you attempt to defend a non-licensed broker

before the Department of Corporations, which has initial jurisdiction over

these matters.

 

“I had a case like that last year. The Department had issued a

Cease and Desist Order effectively barring my client from brokering leases

until it obtained a license. We sought to fight the matter, and were blessed

with an administrative hearing before the Department of Corporations, to be

held in about 45 days. During this time my client remained unable to broker

leases.

 

“ In the course of working closely with counsel for the Department I

learned that it is their learned opinion that every equipment lease broker

must have the license. Though initially requesting an administrative

hearing, we did not pursue it when we became aware of the outcome in advance.

Whereas we could have gone to court for a trial before a California state

judge after its disposition by the administrative judge at the Department of

Corporations, the cost and delay would have been prohibitive.

 

“ I had researched the law on more than one occasion even prior to that

case and find it more than a little ambiguous. I have also attended panels,

and am in fact scheduled to speak at the EAEL Conference next month on this

issue. I have heard the opinions of many attorneys I highly respect regarding

this highly contentious issue.

 

“It appears that most lawyers not engaged in defense of this issue

before the Department are of the opinion that the license needed, even if all

you do are commercial transactions. That is easier said than done, and I know

that smaller companies do not want the cost and additional burden of applying

for a license. However, it appears the cost of not having a license, if you

are "caught" by the Department of Corporations, can be potentially

devastating. I am thus compelled to revise my earlier opinion and, at this

point, believe the license is mandatory irrespective of the character of the

lease. I know there are those who would read the statute differently, as I

once did. However, my opinion is based upon my experience with the

enforcement agency, rather than a desktop interpretation of the written law,

so all I can say is beware and, in my humble opinion, be cautious.”

Ken Greene

Law Offices of Kenneth C. Greene

938 B Street

San Rafael, CA 94901

Tel: 415 721 7900

Fax: 415 256 9922

E-mail: KGreene100@aol.com

[Headlines]

 

 

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Nnovative Data Systems

 

To be added to: http://www.leasingnews.org/elease/software.htm

 

 

Company Name and Year Founded: Nnovative Data Systems, Inc. (please hyperlink company name to www.ndsisoftware.com) - 1995 (h)

 

CEO: David C. Hernly, Sr.

 

Employees: 12

 

# Clients: 14

 

Major Clients: FirstMerit Bank, Frost Leasing (Frost National Bank), Affinity FCU and 3 Way Leasing

 

:

 

(h) LeaseComplete© is a comprehensive lease accounting and management system for the leasing industry. A true 32-bit Windows-based product, LeaseComplete boasts a robust feature set capable of supporting both equipment leasing and vehicle leasing. This lease servicing system is able to marry complex accounting features and ease of use in a way until now not available in the software industry. A truly competitive and proven product that combines its richer features with realistic pricing to bring a superior alternative to today's marketplace. Please compare LeaseComplete to the other software systems to find out why this new alternative is the better alternative.

Here is what one of our users says about the product and NDSI:

 

"LeaseComplete has proven to be a solid and reliable product to handle all aspects of managing and servicing our growing equipment lease portfolio. Although relatively new, it has weathered several challenges including a very aggressive conversion schedule. The support and continued additions to the system are provided by a company, NDSI, who insures quality service by proven professionals in credit software development and industry knowledge. Based on my experience their support has been second to none in both turn around of issues and attention to our expanding needs. LeaseComplete will compare favorably with any product, especially when you consider cost, features, and superior support."

 

Harry Kaplun, President, Frost Leasing Corporation, San Antonio, Texas

[Headlines]

 

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There are Three Ways to Read "Leasing News"

 

Add to your “favorites “ in your internet browser. We post the edition Monday to Friday by 8am, California time.

 

Subscribe to the older version, sent out at 2am, California Time, especially for the East Coast readers who want to read the latest with their coffee in the morning.

 

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You can go here, or

 

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[Headlines]

 

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[Headlines]

 

 

 

UAEL Spring Education Conference May 1-4

 

“Want to spend a few days enjoying the Sunny Southern California Desert? Check out the attached spouse activities that will be a part of United Association of Equipment Leasing's Spring Education Conference May 1-4, 2003!

 

Leave your winter weather, bring your spouse, get a tan, and take advantage of Spa Las Palmas, one of the finest spas in the country! See you there!”

http://www.leasingnews.org/PDFFiles/Spouse%20Insert.pdf

 

Register online at www.uael.org

 

Jessica Roell

UAEL

78120 Calle Estado, Suite #201

La Quinta, CA 92253

(760) 564-2227 x21

(760) 564-2206 fax

jessica@uael.org

www.uael.org

[Headlines]

 


 

Beware March 15: Diesel prices could soar, OPIS says

 

Landline Magazine

 

February may be the shortest month, but it concluded 2003 with some of the largest fuel price increases on record in U.S. markets, according to Oil Price Information Service (OPIS).

 

Thanks to global war worries, the Venezuelan oil strike, the first sustained cold winter of the decade, and low inventories, average nationwide prices for gasoline could soon surpass $1.70 a gallon, and diesel prices could approach $1.85-$1.90 a gallon before the Ides of March.

 

February 2003 began with nationwide diesel pump prices of $1.54 a gallon, but the month closed with a nationwide average of just under $1.80 a gallon, up 26 cents. A year ago, average U.S. retail diesel prices were $1.22 a gallon, more than 60 cents a gallon below where they are likely to peak this March, OPIS reported.

 

Meanwhile, all types of predictions are being made about what may occur in world oil markets the next 40 days. Already, "wartime planning meetings" are being held among large and small companies throughout the petroleum distribution chain, OPIS said.

 

OPIS is a source of U.S. wholesale, spot and retail petroleum prices, tracking more than 85,000 daily retail gasoline prices, and 70,000 rack and spot prices for heating oil, gasoline, diesel, kerosene, jet fuel, LP Gas, residual fuel, natural gas, MTBE and ethanol. More than 100 billion gallons of fuel are purchased annually based on an OPIS Price Index.

 

Wall Street Journal reports on plight of truckers

 

The Wall Street Journal reported in its March 11 edition about the effect high fuel prices are having on small business truckers.

 

"Many truckers never fully recovered from the hit they took in 2000, and now they are being hit again even harder," Todd Spencer, executive vice president of the Owner-Operator Independent Drivers Association, told The Journal.

 

The story noted that after recent increases, leaving the average nationwide diesel price above $1.70, a number of small trucking operations and owner-operators are unable to make a profit and have parked their trucks. Others, the newspaper said, have been forced to take jobs as company truckers.

 

“The latest woes for truckers come shortly after the industry was left reeling in 2000 and 2001 from what some executives called a ‘perfect storm,’” the newspaper reported, “a combination of rising fuel prices, a slowing economy, rising insurance premiums and dropping values of used trucks.”

 

Land Line Magazine is written by and for professional truckers operating trucks and semi-trailers in for-hire transportation of exempt and regulated commodities. Editorial policy encompasses informing truckers, the trucking industry and various government agencies that regulate trucking, of the views of professional truckers. News and feature articles are compiled to keep professional truckers updated on legislation, industry activities and trends, and how these affect his or her business in particular.

Landlinemag.com

 

(In Santa Clara, California, the average regular gasoline price is $2.09 per gallon with Supreme at $2.29 average. I have seen it as high as $2.49, with Costco the best price. Yes, I’m talking about “self-serve.” All this talk about $1.71 per gallon being the statewide average--not in Northern California. editor)

[Headlines]

 

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ORIX Financial Services Names Bill Fite EVP/Group Mgr. of Equipment Finance

 

(working on story about replacement of management at Orix. Readers with

inside information, please give us your comments or direct us to a source.

Not to get behind in the “new,” here is their press release:)

 

ORIX Financial Services, Inc. (OFS) is pleased to announce that Bill Fite has been named Executive Vice President/Group Manager, Equipment Finance. In his new role, Fite will lead the Equipment Finance Group (EFG) in generating quality new business within the construction, transportation, and general manufacturing and production equipment segments of the organization. He will also oversee operations and credit management for EFG.

 

As Executive Vice President/Group Manager for EFG, Fite will report to Jay Holmes, Chairman and CEO of ORIX Financial Services, Inc. "Bill's outstanding performance with OFS provides a strong foundation for his future success," says Holmes. "His proven track record of building motivated, focused teams is ideally suited to his new position, as he works closely with all levels of the organization to develop and implement strategic business initiatives."

 

Fite joined OFS in January 2001 as Executive Vice President/Director of Marketing and Sales. He brought a wealth of talent and hands-on leadership to the company, with over 23 years of senior managerial experience in the equipment finance and leasing industry. Prior to joining OFS, Fite worked for ABN AMRO's Lease Plan USA unit, serving as Senior Vice President and Senior Executive of the Equipment Finance and Leasing Division. He has also held various sales and sales management roles with Citizens and Southern National Bank, Citicorp Industrial Credit, and Westinghouse Credit Corporation.

 

While attending West Georgia College, Fite earned a business degree with a concentration in Finance. He also received First Team All America honors in baseball. After graduation he served in the U.S. Army Special Forces.

 

ORIX Financial Services, Inc. is a wholly owned subsidiary of ORIX Corporation, a publicly traded international diversified financial services organization with assets in excess of $47 billion.

[Headlines]

 

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News Briefs---

 

Oil Futures Hit 12-Year High on News of Inventory Decline

http://www.nytimes.com/2003/03/13/business/13OIL.html

 

Trade deficits narrows as exports rise, imports fall

http://www.accessatlanta.com/ajc/business/0303/12trade.html

 

Want to fix the state's budget problem? Don't cut services. Raise taxes. That, at least, is the recommendation of the Anderson Forecast, a respected economic prognosis produced each quarter by UCLA's Anderson School.

http://www.signonsandiego.com/news/business/20030312-9999_1b12anderson.html

 

"As profits return, businesses will start spending again on equipment."

http://www.bayarea.com/mld/mercurynews/business/5372731.htm

 

McDonald's comparable sales drop for 12th month in row

http://www.signonsandiego.com/news/business/20030312-1349-mcdonalds-sales.html

 

Wine Glut in California

http://www.washingtonpost.com/wp-dyn/articles/A18506-2003Mar13.html

 

Ease of Paperless E-Mail Sidelines the Forlorn Fax

http://www.nytimes.com/2003/03/13/technology/circuits/13faxx.html

 

[Headlines]

 

Sports Briefs---

 

Super Bowl MVP, Ex-Ram FB Sign With Cards As Free Agents

http://www.theredzone.org/news/031203c.asp

 

Cards Land Free Agent Quarterback Jeff Blake

http://www.theredzone.org/news/031203d.asp

 

2003 Salary Cap Status For Each NFL Team

http://www.theredzone.org/caproom.asp

[Headlines]

 

 









http://www.mitforumcambridge.org

[Headlines]


"Selling Leasing in a Tough Economy"

by Jeffrey Taylor, CPA, CLP


click book cover for additional information

Click here for a full review

"A Must read."   "A Jewel"

Send Mr. Taylor an e-mail--and ask him to autograph the book for you. This is a classic you will want to keep.
jtaylor@executivecaliber.ws


$65.00 plus shipping and handling


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