Leasing News

------------------------------------------------------------------------------------------

Two Version: Free ( text format) $49.95 yr ( html/website) Free 30 Day Trial

-------------------------------------------------------------------------------------------

this morning to keep U.S. interest rates at 1961 lows. They warned the economy was in danger of further weakness, indicating it stood ready to lower borrowing costs if needed. The job market seems to be one of the Major concerns.

The Federal Open Market Committee decided to keep its target for the federal funds rate unchanged at 1-1/4 percent.

Recent readings on production and employment, though mostly reflecting decisions made before the conclusion of hostilities, have proven disappointing. However, the ebbing of geopolitical tensions has rolled back oil prices, bolstered consumer confidence, and strengthened debt and equity markets. These developments, along with the accommodative stance of monetary policy and ongoing growth in productivity, should foster an improving economic climate over time.

Although the timing and extent of that improvement remain uncertain, the Committee perceives that over the next few quarters the upside and downside risks to the attainment of sustainable growth are roughly equal. In contrast, over the same period, the probability of an unwelcome substantial fall in inflation, though minor, exceeds that of a pickup in inflation from its already low level. The Committee believes that, taken together, the balance of risks to achieving its goals is weighted toward weakness over the foreseeable future.

Voting for the FOMC monetary policy action were Alan Greenspan, Chairman; William J. McDonough, Vice Chairman; Ben S. Bernanke; Susan S. Bies; J. Alfred Broaddus, Jr.; Roger W. Ferguson, Jr.; Edward M. Gramlich; Jack Guynn; Donald L. Kohn; Michael H. Moskow; Mark W. Olson; and Robert T. Parry.

Meeting in Cambridge, Massachusetts Sunday, Economic Policy Institute President Lawrence Mishel told the Society of American Business Editors and Writers annual conference the economy suffers from "too few jobs;" business writers are focusing too much on gross domestic product...and even if it grows 2.4 percent this year, it is not enough.

Depending on the part of the country, where unemployment is anywhere from 5 to 8 percent, household income has been dropping for four consecutive quarters.

''Unless employment starts growing, President Bush will be the first president since Hoover to preside over an actual decline in employment,'' Mishel said in a speech that also criticized the president's economic policy for doing to little to help the economy this year.

Unemployment numbers are modest because some people stop searching for jobs or accept ''underemployment'' to earn a paycheck, he said.

The U.S. economy would have to create 140,000 jobs per month between now and the 2004 election to return to the employment levels of 2000. But even that would simply absorb workers entering the labor force; to move the unemployment figure below 5 percent would require 210,000 new jobs per month. (New York alone lost 300,000 jobs since September 11)

''(That) seems especially unlikely given the preference of this administration for back- loaded tax cuts,'' Mishel said.

Current estimates put GDP growth at 2.4 percent this year. Fishel that simply isn't enough growth to reduce unemployment and reverse the decline in household income.

That, he said, would require a short-term stimulus package. He said the administration's proposal to cut the dividend tax would do little to spur jobs in the short run.

Instead, he suggested spending $175 billion or more to return money to lower- income taxpayers, provide fiscal relief to states or build and renovate schools which he suggested could create 1.5 million new jobs.

The $79 billion bill to fund the reconstruction of Iraq should provide some bonus, he said, adding perhaps 0.4 percent to GDP this year and accounting for 15 percent of its growth.

Despite the swift end to the war in Iraq, Fishel said, it did little to solve underlying economic problems related to the wage and labor issues that most families care about.

''Those who are trying to tell us that the problem with the economy is war are distracting us from the more fundamental problems that need to be addressed here,'' Mishel said.

Senior Sales Representatives- Nationwide. AEF has aggressive pricing, products and programs to serve your Lessee and Vendor requirements. Work from your home while our Citrix server keeps you connected 24/7. Generous compensation and bonus for exceptional results. To become a representative please e-mail your credentials to: rbaccaro@aefllc.com.

Credit: Campbell, CA. 3+ yrs exp in finance, bank or venture market. Portfolio mngment, credit assessment, underwriting and collections. Degree with concentration in Finance preferred.
email: stephaniew@pentechfinancial.com

[Headlines]

--------------------------------------------------------------------------------------------

During May, our best selling books and database may be acquired at the reduced price of $59.95 with shipping and handling waived. That is a per unit reduction of $20 plus shipping.

Power Tools for Successful Leasing and Technology Leasing: Power Tools for Lessees--the acclaimed books adopted for ELA workshops, and

on the recommended reading list for CLP, Leasingnews and CAUCUS certification programs.

VendorData Base (Spring, 2003 edition) contains financial data, including burn rates, for more than 9,700 companies in a searchable Excel database. Find vitually any public company, its size, whether it is making money, how soon it will run out of cash if it is losing money (burn rate), SIC code, and measures of liquidity and profitability.

All three titles are available through May, 2003 at the reduced price of $59.95 each, with shipping and handling waived.

Orders may be placed by phone (815.753.1116), secure fax (630.365.5602) or email busanalytics@usa.com

In addition, over 70 leasing websites and a dozen leasing articles are available for

--------------------------------------------------------------------------------------------

1775-the first Mason who was African-American was Prince Hall, initiated on March 6, 1775, in an army lodge that was stationed at Castle William under General Thomas Gage in or near Boston, MA. It operated under the Irish constitutions. When the British evacuated Boston, Hall and his fellow members were given a permit to form African Lodge No. 1, which they did on July 3, 1776. On June 30, 1784, after the Revolution, Hall and others applied to the Grand Lodge of England for a warrant, which was issued on September 29,1784, to African Lodge No. 459, with Prince Hall as Master. The first meeting under the charter was held on May 5, 1787, in Boston, MA. the lodge was not recognized by American masonry. The first African-American lodge to be recognized was the Alpha Lodge of New Jersey, No. 116 Free and Accepted Masons, the warrant for which was granted at the Annual Communications of the Grand Lodge in Trenton, NJ, on January 19,1871. The Mason at one time was the largest “fraternal” organization in the United States and quite influential in all communities.

1812-birthday of Martin R. Delaney, ethnologist, Black newspaper publisher, the first African-American to receive a regular army officer commission (Major) and African-American nationalist. http://www.spartacus.schoolnet.co.uk/USASdelaney.htm

1851-Dr. John Gorne of Apalachicola, FL, was granted a patent for a mechanical freezer, “ an improvement in the process for the artificial production of ice.” At a dinner on July 14, 1850, at the Mansion House, Apalachicola, Gorrie produced blocks of ice the size of bricks. He installed his system in the U.W. Marine Hospital in Apalachicola.

the North Pole. As reported in This Day in American History on May 3, the first airplane flight to the North Pole discovered he did not discover the “true” North Pole as originally claimed. http://memory.loc.gov/ammem/today/may06.html

“...was piloted by Lieutenant Colonel William Pershing Benedict of San Rafael, CA, and copilot Lieutenant Colonel Joseph Otis Fletcher of Shawnee, OK. In 1997, historian Robert M. Bryce published the results of research indicating that no previous explorer succeeded in reaching the Pole, despite two long standing claims, and that Fletcher was the first human known to set foot on it. In addition, Dr. Albert Paddock Crary, who was in this party, on February 12,1961, reached the South Pole by tracked vehicle as part of a scientific expedition. He became then the only explorer to set foot”

1882-Congress restricted the immigration of Chinese laborers, actually suspending Chinese immigration for a 10-year period and forbidding naturalization. The act was repealed on December 17,1943

1829- Phoebe Ann Coffin, (aka Phebe Hanaford), first woman ordained in New England as a minister. PAC was an successful author in addition to being a Universalist minister.

1895-birthday of Rodolpho Alfonzo Rafaello Pietro Filberto Gugliemi Di Valentina D’Antonguolla, whose professional name was Rudolph Valentino, was born at Castellaneta, Italy. Popular cinema actor. For years press reports claimed that “at least one weeping veiled woman in black bought flowers to his tomb” in Hollywood Memorial Park, every year on the anniversary of his death at New York, NY. August 23, 1926

1904-Country music pioneer Cliff Carlisle was born in Taylorsville, Kentucky. An associate of Jimmie Rodgers, he began his recording career in February 1930 with Rodgers's "T For Texas." During the next 18 months, Cliff Carlisle recorded more than a dozen of Rodgers' songs, and many other tunes sung in Rodgers' style. Cliff later formed a duo with his brother Bill, and they were popular throughout the '30s and '40s. Cliff Carlisle retired from music in 1947.

1915-George Herman “ Babe” Ruth of the Boston Red Sox hit his first major league home run in a game against the New York Yankees in New York. http://www.baberuth.com/

1915-birthday of Orson Welles, actor and director born at Kenosha, WI. Citizen Kane, which he directed and in which he played the title role, is one of the most influential films ever made. Other files in which he had a role include The Third Man and the Magnificent Amersons. A radio show he did in the 1930’s brought listeners to believe the Earth was invaded form Mars. Died at Los Angeles, CA, October 10, 1985. http://www.bway.net/~nipper/

1918- Canadian composer and teacher Godfrey Ridout was born in Toronto. During his association with the University of Toronto's Faculty of Music from 1948 until his retirement in 1982, he guided some of Canada's most famous musicians. As a composer, Ridout will be best remembered for his orchestral pieces, including "Music For a Young Prince," commissioned for the opening of the St. Lawrence Seaway in 1959 and composed with Prince Charles in mind. Ridout died in 1984. http://www.musiccentre.ca/CMC/dac_rca/eng/p_/Ridout_Godfrey.html

1928-The longest footrace in history began at City Hall in New York City. It concluded on July 24 in San Francisco, 3, 415 miles later. 60-year-old Abraham Lincoln Monteverde, a veteran of more than 100 marathons, not only won the race, but he was also the only competitor to finish.

1936—birthday of singer Sylvia Robinson ( Mickey and Sylvia), Born Sylvia Vanderpool in New York City . Singer/songwriter/producer/ label owner. In mid-'50s, teamed with Mickey Baker to form the performing duo Mickey & Sylvia. Had million-selling "Love Is Strange" in 1956-57. Married Joe Robinson and founded All Platinum Records which later became Sugar Hill Records, the first major rap label.

1937-at 7:20pm, the dirigible Hindenburg exploded as it approached the mooring mast at Lakehurst, NJ, after a trans-Atlantic voyage. Of its 97 passengers and crew, 36 died in the accident, which ended the dream of mass transportation via dirigible http://www.vidicom-tv.com/tohiburg.htm

1942- David Freisen birthday http://www.globalbass.com/archives/may2001/david_friesen.htm

1953-Alva “Bobo” Holloman of the St. Louis Browns pitched a no-hitter in his first major league start, defeating the Philadelphia Athletics, 6-0. Holloman never pitched another complete game in his career which lasted just another 21 games.

1954-running for the British Amateur Athletic association in a meet at Oxford University, Roger Bannister broke the four-minute barrier with a time of 3?59:4. Four minutes for a mile at the time was considered not only a physical barrier but also a psychological one. In this epic race, Bannister relied on two teammates to pace him. Chris Brasher helped Bannister for the first two laps with times of 57.5 and 1:58.2. Chris Chataway sprang to the lead for the third quarter

(3.00:5). Bannister followed Chataway around the curve and started his kick on the backstretch. He sprinted pas Chataway and, as he broke the tape, into track history. But his record lasted little more than a month, until John Landy of Australia ran 3:58.0 on June 21.1957 - Senator John Fitzgerald Kennedy of Massachusetts was awarded the Pulitzer Prize for his book "Profiles in Courage". http://www.hallmemoirs.com/historical/336.shtml

1957-Eugene O’Neill became the first writer to win a Pulitzer Prize four times for drama: 1957,”for his play “Long Day’s Journey Into Night.” His other awards were in 1920 for “Beyond the Horizon,” in 1922 for “Anna Christie,” and in 1928 for “Strange Interlude.” http://www.almaz.com/nobel/literature/1936a.html

1959 - The Pablo Picasso painting of a Dutch girl was sold for $154,000 in London. It was the highest price paid to that time for a painting by a living artist.

1964—the first election in the District of Columbia was the primary election, when the Reverend Edward Franklin Jackson, a Methodist minister who was African-American, defeated Frank Daniel Reeves for the office of Democratic committee-man.

1973-The New England Whalers won the first championship of the World Hockey association. They defeated the Winnipeg Jets, 9-6, to win the final series, four games to one. Both teams later moved into the National Hockey League.

1973- Paul Simon began his first solo tour in Boston, three years after splitting up with Art Garfunkel. Some of the shows were recorded and selections released on the following year's "Live Rhymin'" album.

1980 - NBC came to terms with its superstar, Johnny Carson, on this day. Johnny signed a new three-year contract for approximately $5-million a year. Carson also reduced his "Tonight Show" to one hour from ninety minutes and cut his work week to four nights. Plus, he got billing in the show’s title, as it became "The Tonight Show starring Johnny Carson".

1982 - Gaylord Perry of the Seattle Mariners became the 15th pitcher in the major leagues to win 300 career victories. Perry, known for his spitball as well as a variety of other pitches, led the Mariners past the New York Yankees 7-3. He was long suspected of doctoring the baseball with his salvia. Perry pitched for eight different teams over 22 years an won 314 games. http://www.baseball-reference.com/p/perryga01.shtml

1984- Tina Turner's comeback hit, "What's Love Got to Do With It," was released. The song went to number one, won Grammys for record and song of the year, and established Turner as a major solo star. 1986- The Rev. Donald E. Pelotte, 41, was ordained in Gallup, New Mexico -- the first American Indian to be made a Roman Catholic Bishop in the U.S.

1986 - From the What an Ungrateful Thing to Do, Joan file: Comedienne, Joan Rivers, put her foot in her mouth by announcing to the world that she was leaving "The Tonight Show" as permanent guest host to begin her own late-night gabfest on the new FOX TV Network. http://www.joanrivers.com/

1988-“ Have another doughnut, you fat pig!” After a 6-1 loss to the Boston Bruins in the Stanley Cup playoffs, New Jersey Devils coach Jim Schoenfeld confronted referee Don Koharski as the officials left the ice. In a scuffle, Kobarski either fell, or was pushed, causing Schoenfeld to mock him with the insult, “ Have another doughnut, you fat pig!.” The league suspended Schoenfeld without a hearing, but a judge granted the Devils request for an injunction, in response, regular officials chose not to work the next Devils-Bruins game. Instead, an amateur ref. handed the game assisted by two off-ice officials acting as linesmen. The Devils won, 3-1.

1992- Bruce Springsteen unveiled his new band at a surprise show at the Bottom Line in New York. The only holdover from the E Street Band was keyboardist Roy Bittan. The four-piece group backed Springsteen on "Saturday Night Live" three nights later. "The Boss" opened his world tour in Stockholm nine days after his New York appearance.

and tied the major league record for most strikeouts in a 9-innning game when he fanned 20 Houston Astros in a 2-0 Chicago win. Roger Clements set the major league record in 1986 and tied it in 1996. The former modern National League Mark, 19, was held by three pitchers, Steve Carlton, Tom Seaver and David Cone. http://sportsillustrated.cnn.com/baseball/mlb/players/14836/index.html