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Kit Menkin Leasing News
supplies businesses and consumers with information about
the leasing industry. We have independent,
unbiased, accurate, and fair news about leasing. Feel free to browse our site and learn everything
you need to about leasing.
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Wednesday, March 26, 2003
Headlines---
Pictures from the Past---1987-Seven Receive
CLP Designation
Classified
Ads---Jobs Wanted---Sales Managers/Senior Management
Oh,
no!!! Mr. Bill!!! HP Closes Down
Broker Business
AGLF
Growing---Las Vegas Conference to be Top Event
ACC's
Marci Kimball-Slagle new CLP
Photographs
Available from NAELB Annual Conference
CIT
Quantifies Exposure to Avianca Airlines
UPS
"Synchronizing the World of Commerce"
Investor
Optimism Remains at Record Lows
Existing
homes fall 4.3 percent in February
This Border ##### Denotes Press Release (Not Written By Leasing
News)
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Pictures from the Past---1987—Seven Receive CLP Designation
The third set of Certified Lease Professionals was granted
final approval and received plaques commemorating the designation at the
Fall Conference in
Hawaii.
New CLPs recognized by Western Association of Equipment Leasing
President Joe Woodley(left) were from left: Michael Walsh, Atlantic Financial Savings
Bank; Ron Wagner, Heritage Leasing Capital; Brian Pindell,
Commercial Equipment Lease Corp.; Ben Millerbis, Pentech Financial Services;
Peter Eaton,
First National Leasing Corp.; Duane Russell, Atlantic Financial
Savings Bank.
November, 1987
WAEL NewsLine
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Classified Ads---Jobs Wanted---Sales Managers/Senior Management
Sales Manager: ATLANTA, GA. 30+ Yrs exp. primarily
in small ticket. All phases, from owning own company to starting captive
for major telecommunications company. Shirt sleeve, personal hands on
approach. email:ELITECRUISE@MSN.COM
Sales Manager: Atlanta, GA
30 years in transportation Finance with strong management/
sales background. Represented company on national & region markets.
Started two successful operations- produce profits and growth. Email:pml@mindspring.com
Sales Manager: Atlanta, GA
Professional. finance mgr. w/formal credit ed./ reg. vp/
secured/unsecured commercial loans/ direct end user network/equip. leasing/structuring
small,mid,big ticket transactions. 10+ years NE & SE. Have vendor
servicing w/existing and active network of accounts will bring with me.
Email:AlanAustin2000@msn.com
Senior Management: Baltimore, MD—Florida preferred
25 year veteran of commercial and equipment leasing seeking
a senior management position with leasing or asset based financing company
in the southeast (Florida preferred) email: kellogg_md@yahoo.com
Senior Management: Long Island, NY
Degree Banking/Finance. 13 years leasing exp. Now prez young
leasing company where promises were not met. Interested in joining established
firm with future. Email:bob33483@yahoo.com
Sales Manager: Portland, OR. 18+ yrs w/bank leasing
company. Supervised 14-20 sales people. Willing to relocate for the proper
position. Or, seeking sales position in current location (13+yrs direct
sales). email:pthygeson@netscape.net
Sales Manager: New York,
NY
I have over 25 years owning an independent leasing company
that specialized in truck leasing. Tow trucks, Limos, ambulances, tractors,
etc.. Email:rfleisher@rsrcapital.com
Sales Manager: Seattle, WA
Senior level sales professional w/ (20) plus experience in
mid market financing & leasing. The last (8) plus years being self
employed in middle market brokerage. Email:markhenley@qwest.net
Senior Management: Portfolio Management Consultant;
25+years experience in Collections, Customer Satisfaction, Asset Management,
Recoveries, Continuous Process Improvement, Backend Revenue Generation,
Cost per Collection Analysis. $5+Billion Portfolio expertise. email: efgefg@rogers.com
53 Job Wanted Ads Here--- http://65.209.205.32/LeasingNews/JobPostings.htm
(post your ad free here.
Tell a colleague looking for work.
We help people
find work. Here are
other sites to post that you are available:
www.craigslist.org
(available in many cities now, use scroll feature)
www.insidevcjobs.com
Venture County, CA. Newspaper
www.positionfiller.com
(If you know a site to add to our list, please let us know
so we
can help people find work in the leasing industry. Many are
now
entering the banking or mortgage sector due to the lack of
jobs
available in equipment leasing. It is not secret that business
stinks,
as evidenced by : http://www.leasingnews.org/list.htm
)
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Oh, no!!! Mr. Bill!!!
HP Closes Down Broker Business
"Effective March 25, 2003 HP Financial Services is suspending
it's third
party broker program.
We are conducting a thirty-day re-assessment of the program.
We will be using these thirty days to evaluate this business as well as
HPFS' strategy/future in this market.
All funding packages that have been received by HP Financial
Services by the end of business on 3/25/03 and all transactions where
HPFS has released a Vendor Authorization Letter will be honored."
Kathy Steele
HP Partner Financial Area Manager
1-888-277-5942 x 7527
1-281-926-1452- Fax
HP Financial Services
It was very sudden as super brokers and brokers were told
“no more leases”
effective today. HP
Partner Financial, formerly Compaq Financial
who moved along with the merger to HP, were doing “hucklety-buck,”
often running a week behind in booking business, they were
so busy.
While the documentation continued to be strict, brokers reported
a very liberal credit approval process, as the credit department
was used to financing HP equipment solely. When they ventured
out to all “technology equipment, “ the policy evidently
did
not change.
HP Financial was not after forklifts or production equipment,
primarily
any technology equipment with liberal guidelines regarding
installation,
training, software.
One of the great “innovations” was not requiring personal
guarantees
on many transaction. This
also included not receiving or running
personal credit on the president, as is a major requirement
on closely
held companies whether there is a personal guarantee or note.
So transactions with
poor personal credit went here when the
business credit was good---meaning a low 4 in the bank and
three good trades, and you were in. Often “application only” on technology
equipment up to $75,000.
Several incidences went as high as
$125,000 within six months to the same customer without financial
statements ( including in a Dun and Bradstreet report ).
Yes, quick approvals and costs such as software, installation,
or
longer terms on technology equipment were encouraged. Often
the dealer was checked out better than the lessee, it is
reported.
Computer dealers and “middle men” told brokers who called
upon them, they
were hooked up with HP Finance. “They take everything we
send them.”
Rarely did they get a turn down. HP allegedly had “money
to burn.”
Most super brokers tried to “pre-screen credit” so they would
have a
“clean” record with HP, as many knew about the “loose reputation.”
Paperwork and checks went mostly to HP with a $1.00 purchase
option.
Leasing News was told documentation was tough, "by the
book,"and the rates very attractive, too, as HP had a very low cost
of funds. The company was very responsive. The paperwork got much more
scrutiny than the credit, we are
told.
The HP Risk committee evidently agreed. Normally it takes about
18 months into a lease to learn about the "problems,"
but in
this economy, the length is much shorter. Not in the memo is
a new equipment dealer evaluation, evaluation of broker and
super
broker "portfolio" performance, but a general broad
brush.
Many say it was too good to last. They were right.
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AGLF Growing---Las Vegas Conference to be Top Event
Association for Governmental Leasing and Finance increased
ten members.
This group with all its focus on tax-exempt and municipal
transactions should
be one of the largest as almost all states, counties, and
cities are facing
deficits. Leasing would then be more attractive.
Out of the 263 members, only 135 are “company” members. The
rest are “individuals” from the company. Company members pay $650 a year,
and
individuals $150. The previous year saw 253 with 87 companies/169
individual
members..
“Individual membership is down, “ says Executive Director
Graham Hauck.
“The large companies have cut costs, cut sections, and those
involved in ‘non-tax’
or ‘tax exempt’ leasing were moved to other sections.”
The members by the category “broker” have also leveled off,
from nine in 1999, ten in 2000, twelve in 2001, back to ten in the year
2002.
“This is definitely a small niche, “ Hauck explains. “ Many
of our members
belong to the Equipment Leasing Association, for sure, but
I can tell you
there is a lot of business, a lot of networking, done at
our two conferences
each year.”
Mr. Hauck extended an invitation to Leasing News to attend
the Las Vegas
Conference as his guest to prove the point.
“There is a lot of networking that goes on at our conferences,
“ he explained.
“With the lack of income for existing program, leasing will
be more necessary
for municipalities. Many of them will be “finance” rather
than “tax” transactions
for “cash flow.”
It should also be noted that non-members pay the same fee
for the AGLF Leasing
Conference.
The association has a very informative, clean website, with
much information
for their industry not available anywhere else:
AGLF was founded in 1981 to serve municipal leasing industry.
Publishes
Bi-monthly newsletter; sponsors 2 annual conferences; 50-state
leasing
survey; federal leasing survey; and conducts numerous industry
projects.
Two types of membership: regular member - private sector
organizations
active in leasing/finance; governmental member - any state,
territory, US possession, District of Columbia, or political subdivision
of above.
Dues information:
As many people as would like to from any one company may
join. One person
must be designated the Regular Member and pay $650/year dues.
The other
members are designated Additional Members and pay $150/year
dues.
Non-members are very welcome at our conferences. For registration
materials, they can call 202.742.AGLF (2453) or email info@aglf.org
2003 Annual Spring Conference
May 14-16, 2003 / Four Seasons Hotel, Las Vegas, NV
The 23nd AGL&F Spring Annual Conference will be held
in Las Vegas, Nevada at the Four Seasons Hotel – May 14-16. Room rates
for the Four Seasons Hotel are $230.00 per night till April 11, 2003.
You may call now to make your room reservations by dialing 1.877.632.5200
– Please be sure to mention that you are with the Association for Governmental
Leasing and Finance to receive the above special rate.
AGL&F 23rd SPRING ANNUAL CONFERENCE
TENTATIVE SCHEDULE OF EVENTS
Wednesday, May 14
2:00 PM – 4:00 PM Basics Session
Thursday, May 15
8:00 AM – 5:00PM Keynote Speaker, General Sessions and Luncheon
Evening – Annual Conference Dinner Event
Friday, May 16
8:00 AM – Noon General Sessions, Ending with the Lawyers’
Panel
If you are interested in becoming a sponsor for the 2003
Annual Spring Conference please:http://www.aglf.org/SponsorForm03.pdf
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**** Announcement *******************************************
ACC’s Marci Kimball-Slagle new CLP
The CLP Foundation would like to congratulate Marci Kimball-Slagle,
CLP on becoming our newest Certified Lease Professional. Marci is with
ACC Capital Corporation in Salt Lake City, UT. Marci and Jack Harvey, CLP, who had received
his designation last summer, were awarded their
CLP Certificates, mounted on a nice wooden plaques, at the
NAELB Annual Conference in Chicago this past weekend.
-------------------------------------------------
The CLP Foundation is the official governing body for the
Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism
in the leasing industry. This designation
identifies and recognizes individuals within the leasing industry who
have demonstrated their competency through continued education, testing
and conduct. The letters "CLP"
behind their name represent a visible recognition of this professional
achievement and status.
For further information about the CLP Foundation and the
CLP Program please contact:
Cindy Spurdle, Executive Director
CLP Foundation
PH: 610/687-0213
FAX: 610/687-4111
Email: cindy@clpfoundation.org
(The Eastern Association of Equipment Lessors (“EAEL”),
the National Association
of Equipment Leasing Brokers (“NAELB”)
and the United Association of Equipment Leasing (“UAEL”)
have joined in this cooperative effort to organize and support
the establishment of the CLP Foundation. The lack of evidence appears
that both The Association for Government Leasing and Financing (AGLF)
plus Equipment Leasing Association (ELA) apparently
do not to support the CLP program.
(Officers and board: http://www.clpfoundation.org/Departments/BoardofDirectors.htm
(List of CLP by name: http://www.clpfoundation.org/Departments/CLPorderbylastname.htm
(List of CLP by company: http://www.clpfoundation.org/Departments/CLPorderbycompany.htm)
The www.clpfoundation.org
site lists these dates and places for
the next exams:
04/6/03
EAEL Spring Conference
(tentative)
05/4/03
Rancho Mirage, CA (Location TBA)
05/17/03
Republic Financial Corporation, Aurora, CO
06/21/03
McCommon Leasing Company, Bellevue, WA
September
2003
EAEL Expo (tentative)
October
2003
UAEL Fall Conference, Portland, OR (tentative)
Training Classes:
April 3, 2003
EAEL Spring Conference
There will be a one-day review class offered on
Thursday, April 3rd preceding the
Conference and the Exam will be given on
Sunday, April 6th following the Conference.
The cost of the review class is $95.00.
Westin Grand
Washington, DC
May 1, 2003
UAEL Spring Education Conference
There will be a one-day review class offered on
Thursday, May 1st preceding the
Conference and the Exam will be given on
Sunday, May 4th following the Conference.
The cost of the review class is $95.00.
Marriott’s Rancho Las Palmas Resort and Spa
Rancho Mirage, CA
July 10-13, 2003
Location -- TBA
Orange County, CA
***** Announcement *************************************
Photographs Available from NAELB Annual Conference
Thank Steve Geller and Charlie Lester for the nice write-up
about the National Association of Equipment Leasing Broker Annual Conference
last weekend.
It truly was one
of the most energized and fun meetings I've ever
attended. It was so
great and encouraging to meet so many new folks,
attending for their first time.
I've posted over
a hundred pictures from the conference at: www.ForEquipmentLeasing.com/NAELBChicago.
If you use
any, please give credit to NAELB Broker Member, Johnny Johnson,
who
cheerfully volunteered his time to be our NAELB Paparazzi.
This conference marked the end of my term as NAELB President,
though I'll continue to serve on the Board of Directors as Immediate Past
President for one more year.
Gerry Egan
President
TecSource, Inc.
5621 Departure Drive, Suite 113
Raleigh, NC 27616
Phone: 919-790-1266
Fax: 919-790-2262
E-Mail: mailto:GerryEgan@ForEquipmentLeasing.com
Internet: http://www.ForEquipmentLeasing.com
*** announcement ******************************************
### Press Release ######################################
CIT Quantifies Exposure to Avianca Airlines
LIVINGSTON, N.J.,/
-- CIT Group Inc.
(NYSE: CIT) disclosed its current financing relationship
to Avianca which
filed voluntary petitions for re-organization under Chapter
11 of the U.S.
Bankruptcy Code on Friday, March 21, 2003.
Under existing agreements,
CIT has operating leases with Avianca whereby
it is the lessee of one MD 80 and one Boeing 757 aircraft,
the latter of which
is scheduled to come off lease in May. The outstandings under these operating
leases total $41 million.
SOURCE CIT Group Inc.
### Press Release ##############################################
UPS “Synchronizing
the World of Commerce”
(But does it include
UPS Capital? Make your lease application with
your UPS driver ---instead
of sign in your window or door
saying "package
for pick-up"---now it will be:
"lease application
for pick-up" Seriously: How about ending the monthly
service fees that
Federal Express, Airport, or Priority Mail
do not charge. That
would really be "synchronological.")
ATLANTA,GA – UPS today unveiled a “new look” that includes
the first redesign in more than 40 years of the company’s famous “shield”
logo.
UPS said the change reflects the significant broadening of
capabilities that has occurred in recent years as the company expanded
across the globe and introduced a portfolio of new supply chain services.
The company will continue to use the color brown for its operations, but
the logo change includes elimination of the package with a string bow
atop the shield.
“UPS is a vastly different company today than most people
realize,” said UPS Chairman and CEO Mike Eskew. “Today we are bringing
our look up to speed with our capabilities.”
Based on the scale of the project, changing UPS’s visual
identity may be one of the most significant corporate identity transformations
ever.
The UPS brand is one of the most seen and recognized on the
globe. During the course of a year, UPS touches the doorstep of 98 percent
of the homes in America and reaches customers in more than 200 countries.
Eighty percent of the world’s population can be reached by UPS in 48 hours
or less.
The logo appears on more than 88,000 vehicles, 257 large
jet aircraft, 1,700 facilities around the world, 70,000 drop-off and retail
access points, more than 1 million uniform pieces and more than 3 billion
packages annually.
The visual changes will not be restricted to the logo alone.
To further communicate the global reach and expanding capabilities of
UPS, the phrase “Synchronizing the World of Commerce” will become part
of the design of the company’s aircraft and familiar brown package cars.
New advertising also will include the “synchronizing commerce” theme.
And while brown will remain the primary color representing
UPS, other new, complementary colors will become part of the design of
aircraft, packages and other company assets.
According to Eskew, UPS had planned to unveil the new logo
today at events around the world, but significantly scaled back on those
plans as a result of current events in the Middle East.
The most visible change to the UPS logo is the removal of
the bow-tied parcel that appears atop the shield. Ironically, even though
the small bow had become one of the most recognized features of the company’s
logo, packages with string have not been accepted by UPS for several decades
because the string can get caught in high-speed sorting machinery.
The logo now being replaced was designed in 1961 by Paul
Rand, a renowned brand designer who also was responsible for the logos
of IBM, ABC, Westinghouse and Yale University, among others.
“Package delivery is and will remain the foundation of our
business at UPS,” Eskew said. “But as we expand our capabilities and broaden
the solutions we bring to our customers, we felt it was the right time
to make our logo reflect the company’s evolution.”
For decades, UPS has been developing and acquiring new capabilities
to broaden the global package delivery options it provides its customers.
Today, the company offers freight services by any mode of transportation,
international trade management, customs brokerage, consulting and supply
chain management, financial services and e-commerce solutions. Most of
these services are offered under the company’s recently formed Supply
Chain Solutions business unit.
In addition, UPS has dramatically expanded its retail presence
through the acquisition of Mail Boxes Etc. Last month, the company announced
it would provide Mail Boxes Etc. franchisees within the United States
the opportunity to rebrand their stores under the name The UPS Store.
“We believe that ‘synchronized commerce’ is the next evolution
of global commerce, where the three flows of trade – goods, information
and funds – are seamlessly connected to benefit businesses worldwide,”
said Eskew. “Our capabilities give UPS a unique opportunity to lead this
evolution, and our strong brand gives us a great foundation on which to
move forward.”
UPS is the world’s largest package delivery company and a
global leader in supply chain services, offering an extensive range of
options for synchronizing the movement of goods, information and funds.
Headquartered in Atlanta, Ga., UPS serves more than 200 countries and
territories worldwide. UPS's stock trades on the New York Stock Exchange
(UPS), and the company can be found on the Web at UPS.com.
For More Information Contact:
UPS Public Relations
404-828-7123
“ just synchronological”
#### Press Release #############################################
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Investor Optimism Remains at Record Lows
(this is one that Dave Rose at CBS radio would read “r-e-a-l
s----l------o------w”
Investor optimism fell..... to record low levels ....in March....
as investors expressed concerns... about the impact... of war in Iraq...
and the state of the nation's economy, according to the Index of Investor
Optimism, a poll compiled by UBS and the Gallup Organization.
Not.... surprisingly.... war with Iraq.... ranks as the top
concern among investors.... with 47 percent saying they believe.... it-
is- the- most- important- threat- to- the U.S. investment climate....
over the next 12 months.
This is followed (now
read slower).by major
terrorist attacks, a
prolonged economic downturn, a
conflict with North
Korea, and significant depreciation of the
U.S. dollar.---------------- People-------------are------------
worried.
(Gee, we could have told them that for free. editor)
Existing homes fall 4.3 percent in February
The National Association of Realtors reported Tuesday that
existing-home sales fell to 5.84 million, representing a 4.3 percent decline
from January's record high sales pace.
Many realtors noted that weather was a factor, particularly
on the East Coast where snow and cold kept buyers from looking for homes.
The lowest home mortgage rate in recent history has driven sales, creating
home payments affordable to many, despite the historic high prices.
Leasing News noted that Federal Reserve Chairman Alan Greenspan
earlier this month said he believed the housing market was similar to
the very high stock prices about two years ago and would soon burst if
not brought under control.
By region, existing-home sales fell in the South by 8 percent
in February from the previous month to a seasonally adjusted annual rate
of 2.30 million units. In the West, overall sales went down 6 percent
to a rate of 1.56 million. Sales in the Northeast were 680,000, a 2.9
percent decline. But in the Midwest, sales rose 4.8 percent to a rate
of 1.30 million.
David Lereah, the National Association of Realtors' chief
economist, predicts the poor weather in February and fear of the economic
impact of the war in Iraq will spill over into March homes sales. Most
economists believe unemployment is affecting sales more than the weather,
however, there are spots where housing
continues to “burst” through previous records.
Roger M. Showley in the San Diego Union-Tribute reported
the overall median price for San Diego County, California, 3,725 recorded
sales in February was $357,000, the same as the record set in December.
That represented a 6.3 percent increase from January and a 23.5 percent
increase from February 2002.
Single-family resale home prices hit a record $359,000, up
from $355,000 in December and January, and resale condominiums posted
a record $265,000, up $2,000 from the December record.
The overall increase appeared to be fueled by the robust
but volatile new-home market, which includes both newly built houses and
condos and condo conversions. The new-home median of $447,500 equaled
the all-time record in December and was 9.1 percent higher than January's
fall-back level.
The median represents the midpoint of all sales, with half
above and half below that figure. Fluctuations in individual neighborhoods
and for specific properties can differ widely from the overall county
median.
DataQuick analyst John Karevoll predicted that February was
the last month in which San Diego will see year-over-year increases of
20 percent or more. That's because prices in March 2002 and subsequent
months rose so much that it would be difficult statistically to repeat
the upward trend this year.
But war in Iraq is not likely to affect the local housing
market significantly in the short-term or long-term, he said.
"In going back and looking at other occurrences, both
in the 1991 Gulf War and other sorts of non-economnic, non-real-estate-related
things, it's not likely there will be much effect on the housing market
short- term," Karevoll said.
Even if consumers pause to watch the news instead of shop
for homes, he said most will quickly return to the market because of pressing
housing needs.
"In the worst-case scenario, some activity gets deferred
for awhile and then the real estate market generally plays catch-up afterward,"
he said.
Alan Gin, an economics professor at the University of San
Diego, agreed with Karevoll's assessment, adding that San Diego's housing
outlook may wobble a bit because of other factors.
For one thing, employment is slowing and the need for housing
is likely to soften. He said there were about 10,000 jobs generated in
the county last year, requiring about 8,000 homes. But builders, who were
responding to previous years of high demand that resulted in a cumulative
80,000-home backlog, started about 14,000 homes.
If production remains at similar levels this year, he said,
"I anticipate housing prices may . . . sort of level off, but not
necessarily decrease."
A second factor, Gin said, is the outlook for mortgage interest
rates, now at 45-year record lows. If the increasing federal deficit pushes
interest rates up, as usually happens, then rates will rise and potential
buyers may back off.
"That could lead to a downturn in housing prices,"
Gin said.
But both Karevoll and Gin argued that San Diegans should
not expect a repeat of the early 1990s, when prices dropped by about 23
percent in many areas and real estate took several years to recover.
This time, they noted, there is no similar surplus of housing
for sale, brought on by overbuilding in the '80s. Big industries are not
exiting the county, as was the case with aerospace a decade ago. And lenders
are not facing massive foreclosures and failures such as those that occurred
in the wake of the savings-and-loan industry collapse back then.
According to the San Diego Association of Realtors, sales
activity is outpacing year-ago levels. The typical detached home on the
market took 56 days to sell last month, compared with 71 days a year earlier.
The typical attached home took 40 days to sell compared with 54 days in
early 2002.
What should consumers do? Karevoll advised them to remain
cool, focused and sensible.
"They need to stick to basics and not get carried away
by the percent of potential gains and losses in household finances,"
he said. "It's time now to look at school districts, the size of
the house and if you like the neighborhood, if it fits your needs – I
think that's got to be the most important thing."
The nation's unemployment rate rose to 5.8 percent in February,
as the economy eliminated 308,000 jobs, the worst payroll cuts since November
2001, when the country was reeling from the Sept. 11 terror attacks.
Does not include those
who have “down graded” income with lower paying jobs, including
many
in the leasing industry.
--------------------------------------------------------------------------------------------
News Briefs---
Financial Institutions' Profit Growth Doubles (read the
card! read the card!)
http://www.latimes.com/business/la-fi-rup26.6mar26,1,617265.story?coll=la%2Dheadlines%2Dbusiness
Consumer Confidence Falls to Lowest Level Since 1993 (more
to come?)
http://www.nytimes.com/2003/03/26/business/26PLAC.html
http://graphics7.nytimes.com/images/2003/03/25/business/26PLACE.chart.jpg
...foreclosures hit record high in 4th quarter (hold on,
Bertha!)
s
Treasury Secretary Downplays Deficits (they’re good for
you?)
http://www.latimes.com/business/la-fi-snow26mar26,1,4838065.story?coll=la%2Dheadlines%2Dbusiness
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www.leasingnews.org
Leasing News, Inc. 346 Mathew Street, Santa Clara, California 95050 E-Fax: (781)459-4789 kitmenkin@leasingnews.org 
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