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Monday, May 12, 2003
Headlines---
Classified
Ads---Sales Manager
Two
Versions: Free & $49.95 yr
Highlights
This Day in American History
The
List to be Up-dated this Week
http://www.leasingnews.org/list.htm
Classified Ads---Sales Manager
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
66 Job Wanted Ads at: http://65.209.205.32/LeasingNews/JobPostings.htm
(We have confirmed helping eight people find jobs last week,
and printed
some of the testimonials.
From attorneys, CFO, sales:
http://65.209.205.32/LeasingNews/JobPostings.htm
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This Week's Economic Events
May 12
MONDAY
nada
May 13
TUESDAY
Balance of Trade: March
May 14
WEDNESDAY
Retail Sales: April
Association for Government
Leasing and Finance
2003 Spring Annual Conference
Four Seasons Hotel & Spa
Las Vegas, Nevada
Equipment Leasing Association
Capitol Hill Day
JW Marriott Hotel, Washington, DC.
May 15
THURSDAY
Inventory-Sales Ratio: March
Industrial Production: April
Capacity Utilization: April
Producer Prices: April
Weekly Jobless Claims
Association for Government
Leasing and Finance
2003 Spring Annual Conference
Four Seasons Hotel & Spa
Las Vegas, Nevada
Equipment Leasing Association
Capitol Hill Day
JW Marriott Hotel, Washington, DC.
May 16
FRIDAY
Consumer Price Index: April
Housing Construction: April Association for Government
Leasing and Finance
2003 Spring Annual Conference
Four Seasons Hotel & Spa
Las Vegas, Nevada
__________________________________________________________________
Mortgage rates dip again
Interest rates on home loans fall for fourth consecutive
week as Treasury rates remain low.
NEW YORK (CNN/Money) - Mortgage rates dropped in the week
ending May 9, marking the fourth consecutive week of falling
interest rates on home loans with the one-year adjustable mortgage hitting
a record low, lender Freddie Mac said Thursday.
The 30-year mortgage averaged 5.62 percent this week, with
an average of 0.7 of a point payable up front to the lender, down from
5.70 percent last week and well below its 6.79 percent average of a
year ago.
The 15-year fixed-rate mortgage fell to 4.97 percent with
0.7 of a point payable up front to the lender. The 15-year averaged
5.03 percent the previous week and 6.27 percent a year ago.
(Soon lenders will start paying you interest to take out
a loan. Seriously, many
offer bonuses, plus will allow you to increase your mortgage
balance, meaning
give you a loan while they lower your interest rate and payment
to below
what you are paying today. The equity in the home has become the cash
for households and small businesses. Editor )
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The Matsco Companies
by Christopher Menkin
"When you work with Matsco you receive the practice
financing that you need – plus you have access to business consulting
experts that will help you keep your practice strong and healthy. We
understand your needs as a healthcare practitioner – and even more so
as a business owner, so we’ll work with you to tailor a finance program
that meets your individual needs.
"Plus, you have the confidence of knowing that you’re
working with the best – Matsco is the only practice finance company
to have the exclusive support of ADA Member Advantage and the American
Animal Hospital Association. This comes from our long track record of
successfully funding the dreams of dentists and veterinarians and delivering
expert tools, education and support that build prosperous practices.
"We’ll work with you to build your future and your success."
“A principal in the lending market, Matsco is one of the
top 50 commercial lenders in the United States and is a member of the
Greater Bay Bancorp family. Backed by extensive, in-depth lending expertise
and a 20-year track record of providing financing for healthcare practices,
Matsco has been the leader in professional practice lending for the
dental community since 1983. Working with the veterinary community since
1999, Matsco has already established itself as the premier specialty
lender in that market.
As a specialized lender focused on the healthcare industry,
Matsco’s key to success is a consultative approach to business. By listening
to clients and working with them to understand their specific needs,
Matsco is able to deliver customized and fully-supported financing programs
throughout a doctor’s career or for a single project. Matsco’s broad
range of financial products and services are designed to meet growth
challenges at any stage of a practice’s life cycle, including:
“Equipment loans & leases
Practice acquisition & start-up financing
Expansion & improvement financing
Commercial real estate
Business lines of credit
Business refinancing programs
“Matsco is also the only practice financing company to have
the exclusive support of ADA Member AdvantageSM and the American Animal
Hospital Association.”
CONTACT US
The Matsco Companies
2000 Powell Street, 4th Floor
Emeryville, CA 94608
PHONE: 800.326.0376
FAX: 800.318.8601
EMAIL: info@matsco.com
( An outgrowth from the company started by Fred Shieman,
who died tragically and left the business for his son to continue, Matt,
who grew it into a major entity,
then running into the changing securitization market, sold
to Greater Bay Bank,
a conglomeration of San Francisco Bay Area banks, originally
in San Mateo and
Santa Clara County, now growing into other counties. Shieman
reportedly
has a large bonus hanging to meet projections.
Rumors regarding real estate transactions, SBA transactions,
and the rapid growth have affected the sale of stock, plus reportedly
increased outside bank audit activity. It is alleged this has also affected
the Matsco Companies ability to seek
low rate funds and reportedly has affected the operation.
http://finance.yahoo.com/q?s=GBBK&d=t
A year ago, the stock was selling for a high of $33, but
Friday was
$18.48. The low was
$12.83 on March 10,2003, a little over two months
ago.
http://table.finance.yahoo.com/d?a=4&b=10&c=2002&d=4&e=10&f=2003&g=w&s=gbbk
Latest Quarterly report:
“Net income declined 9.1% during the first quarter of 2003
as compared to the first quarter of 2002. The decline was due primarily
to lower net yield on interest- earning assets reflecting the continual
reduction in market interest rates and increases in operating expenses
due to the ABD acquisition and our increased emphasis on enhanced enterprise-wide
risk management.”
http://biz.yahoo.com/e/030509/gbbk10-q.html
Ex-employees have been telling Leasing News about "down
sizing," "tight credit
criteria," and "shifts in management."
http://finance.yahoo.com/q?s=GBBK&d=t
Reports for the last month about people being let go,
and other changes. A
key player at Matsco recently “retired,” Hy Bren,
who’s last e-mail came from Warren Capital in Novato, California.
hy@warrencapital.com
Among the inquiries and e-mail from ex-employees, this was
recently
received from a very
high reliable source:
“I have been told by *******
( a former employee) that Greater
Bay
Equipment Finance (the old Matsco) has let go most of their
sales and
documentation people and are in the process of closing the
commercial
operation. It is reported
that they want to focus on three areas: dental,
CPA practices and nursing homes. Strange mix! I will advise
if I hear of
anything else. If
you hear anything that needs to be confirmed, please let
me know. I will try to find out for you.”
It appears the Matsco company is getting out of the “broker”
business,
plus changing its emphasize to concentrate more in the health
market
field, which recent Equipment Leasing Association and Equipment
Leasing and Finance Foundation reports state is a growing
“niche
market place.”
Matt Shieman responded last Friday morning (May 9):
“Kit, appreciate you providing me the opportunity to address
the issue. I would
like to send you an email on Monday that would provide you
a
better summary of what has happened and where Matsco is going.
“What I can say is
that the rumor statement is far from being accurate
and that the financial performance of the Company this year
has never been
better in its 20 year history.
“Hope all is well with you and I will send response on Monday.”
Matt
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Speed Up Your Dial Connection
Go to your task master in Windows by control-alt-delete,.
Click
on processor. Keep
the box open with a split screen
,while you surf the net.
Watch the processor performance.
If your processor remains above 70% ( quite high), it means
it is doing
a lot of paging to keep up with the net.
In general, the higher the processor speed (CPU) and the
more RAM (memory)
you have, the better your connection speed; the faster your
processor will work.
Here are four utilities ( not free ) that will help manage
this process, thereby
speeding up the dial-up by controlling the efficiency.
They also have free services
that explain the process, and may test your speed, too.
ModemBoost --www.modemboost.com
Modem Booster -- http://www.inklineglobal.com/products/pcb/index.html
Netboost--(http://greatware.net/boost_internet/netboost/
Speed Connect --http://speedconnect.hypermart.net/
----------------------------------------------------------------------------------------------
On Line Calculators---
Here is the page to our Lease Calculator recommendations:
http://two.leasingnews.org/Recommendations/lease-finance.htm
A reader asked us for a program that would calculate his
commission based on a lease factor. Many funders and equipment leasing companies offer these
programs on line, for free. Some allow you to download the program.
Excel can also do this easily, and if there is a reader who
knows
the formula, please share with us.
In the old days we would take the factor and multiply it
by 1.00 with
the commission the salesman was seeking. For instance, .0331
and
the salesman wanted five points, multiply 1.05 times .0331
and it would be
.034755.
Here are some personal financial portals and calculation
tools we will
be adding to the page:
Bankrate.com www.bankrate.com/brm/rate/calc_home.asp
ihatefinancialplanning.com www.ihatefinancialplanning.com/calculators
Kiplinger.com www.kiplinger.com/tools
Microsoft Money www.microsoft.com/money
The Motley Fool www.fool.com/calcs/calculators.htm
Quicken.com www.quicken.com
USAToday.com http://www.usatoday.com/money/perfi/calculators/calculator.htm
Yahoo! Finance https://finance.secure.yahoo.com/box?u
There are others who also have financial tools, perhaps the
most popular:
It has a “debt consolidation calculator,” information on
IRA and Roth IRA, plus
a retirement expense calculator.
For a complete list of tools, go to http://moneycentral.msn.com/help/tools.asp
Most of these program are more compatible with the Windows
operating
system. While some
others have good programs, you may find this more
“integrated.”
CNN Money has also a financial calculator and other tools,
and its advantage,
it is designed with currency converters, and many other programs
that work
all over the world http://cgi.money.cnn.com/tools/
Savings Calculator:
http://cgi.money.cnn.com/tools/savingscalc/savingscalc.html
Retirement Calculator:
http://cgi.money.cnn.com/tools/savingscalc/savingscalc.html
Here are some simple calculators:
Create a schedule for paying off leases, loans, credit card
balances:
http://www.peretek.com/billcalc.php
Loan Calculator, which works on Palm and other PC programs
Collection of free financial calculator, including stock
spread calculator,
rent vs. buy.
www.wheatworks.com/freeware.htm
To Reach financial goals:
http://www.xmlcreate.com/WahooCalc.html
If there is a calculator we have not mentioned on this page,
please
let us know as we will share with other readers.
------------------------------------------------------------------------------------------
Two
Version: Free ( text format) $49.95
yr ( html/website) Free 30 Day Trial
http://www.leasingnews.org/contact_us_news.htm
This edition is also available in an "up-grade"
format, html, where you may
click on the headlines to go to the story, plus is also in
this "new" format
posted daily on our website--- http://www.leasingnews.org/contact_us_news.htm
News Briefs---
Brokers, Bankers Reap Rewards From Torrent of Loan Business
http://www.washingtonpost.com/wp-dyn/articles/A40442-2003May10.html
Housing Industry Keeping Economy Going
http://www.signonsandiego.com/news/business/20030510-9999_1b10outlook.html
April pay downs set new record
http://www.absnet.net/include/showfreearticle.asp?file=/headlines/.htm
Georgia House Price by County/zip code
http://www.ajc.com/business/content/business/homereport/2003/
Fry's Electronics Keeps Growing
http://www.signonsandiego.com/news/business/20030511-9999_mz1b11frys.html
Inside Google
http://www.bayarea.com/mld/mercurynews/business/5782580.htm
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Highlights This Day in American History
1780 - During the American Revolution,
Charles Town (later Charleston), South Carolina, fell to the British
after a two-month siege.
http://www.geocities.com/Heartland/Ranch/9198/revwar/2charles.htm
http://dspace.dial.pipex.com/town/terrace/adw03/c-eight/america/amletter.htm
http://www.publicbookshelf.com/public_html/Our_Country_vol_2/revolution_bcb.html
http://www.treefarmtapes.com/catalog/product.asp?productid=7726
1812-John Langdon of New Hampshire
was nominated to run by the
Republic party, but turned it down. He had 64
votes to James Madison’s 82.
A very popular man in his time, he refused the job due to
his age and health.
. A second caucus
was held and Elbridge Gerry was nominated.
http://www.seacoastnh.com/framers/jlangdon.html
http://www.lexrex.com/bios/jlangdon.htm
1847- Mormon pioneer William Clayton
,the personal secretary to the Mormon prophet, Joseph Smith, invented
the first odometer while crossing the plains in a covered wagon. Previous
to this, mileage was calculated by counting the revolutions of a rag
tied to a spoke of a wagon wheel. He is also known
for his journal entries about the Mormons' trek west to the
Salt Lake valley.
When introduced to plural marriage, he was reluctant but
eventually became one of its most enthusiastic proponents, marrying
ten women and fathering forty-two children.
http://www.signaturebooks.com/clayton.htm
http://www.utlm.org/booklist/titles/xb064_intimatechroniclewilliamclayton.htm
1869-The first news reporter at a
political convention who was a woman was Mary Ashton Rice Livermore,
one of the editors of the New Covenant, who covered the Republican National
Convention, May 12-18, 186-, at the Chicago Wigwam, Chicago, IL, which
nominated Abraham Lincoln.
http://search.eb.com/women/articles/Livermore_Mary_Ashton_Rice.html
1863-The first Confederate ship to
surrender to the Union was the Planter, a 313-ton side-wheel steamer
serving as an armed dispatch boat. It was surrendered off the harbor in Charleston, SC, by Robert Smalls,
an African-American salve who was its pilot. He and the African-American crew took charge of the ship, while the
captain was ashore. Flying the
Confederate flag, they saluted with cannon fire the forts on their voyage
northward. When out of reach of ammunition, Smalls hoisted a white flag
of truce and turned over the ship to the U.S.S. Onward. In appreciation, a special act of Congress was passed on May 30,
1982, awarding Smalls and his partners one-half the value of the Planter
and its cargo.
1864- the heaviest action of the
Battle of Spotsylvania, Virginia, began at dawn, when Gen. Winfield
Scott Hancock, with 20,000 men, attacked a Confederate salient.
Creating a gap, Hancock’s men captured some 4000 men and 20 large
guns In another part of
the Battle of the
Wilderness, the two great general met again after Hancock made
this gap Lee had positioned his troops in breastworks ( a
temporary, quickly constructed fortification, usually breast high--a
popular war move seen often in Mathew Brady photographs ) along a horseshoe
formation utilizing the natural features of the landscape. During Grant's
attack on the very strong and fortified position both sides suffered
losses of more than 12,000 in what became known as "the Bloody
Angle." Lee was forced to use every available man in order to protect
the position and so ordered his troops to pull back during the night.
Neither side won and both sides suffered heavy losses, perhaps a lesson
well remembered by General Lee and General Grant, who was in favor of
a different reconstruction of the South than transpired, even when president.
They were
to meet for the surrender less than a year from this battle.
1883- Hazel Lucile Harrison birthday:
Afro-American concert pianist who made her debut with the Berlin Philharmonic
Orchestra in 1904. She was blocked from concerts with major American
orchestras because of her race and sex.
Her technique and ability was praised for years in Europe.
Her mother, a hairdresser and manicurist , was the daughter of
slaves who followed the underground railway to the north.
http://www.aaregistry.com/african_american_history/1930/A_pure_keyboard_artist_Hazel_Harrison
http://dbs.ohiohistory.org/africanam/page.cfm?ID=5354
1893- Georgia Lee Witt Lusk birthday,
educator, state government official, and congressional representative
is known as the first lady of New Mexico.
In 1924 she was elected superintendent of schools in her
home county and elected superintendent of public instruction for the
state 1930. She moved on to the
U.S. Congress in 1946, and was a member of the War Claims Commission
(1949-1953). Lusk was instrumental in getting free textbooks in all
the New Mexico school.
http://clerkweb.house.gov/105/womenbio/ExtendedBio/Luskexb.htm
1903—Theodore Roosevelt visits San
Francisco, caught on film by
H.J. Miles. (video
playback needed to see black and white silent film at, 14.3mb download,
too, and the president turns away from the camera at the closet point,
but to see the people and the times is quite interesting(the date on
the film
is the date it was released, not the actual day of May 12:
http://memory.loc.gov/cgi-bin/query/r?ammem/papr:@field(NUMBER+@band(lcmp003+m3a22730))
( lower half of: http://memory.loc.gov/ammem/today/may12.html
1912-Alto sax player Marshall Royal
Birthday, played lead sax for
Count Basie for over 20 years, plus was the band manager,
born Sapulpa, OK
http://shopping.yahoo.com/shop?d=product&id=1927006337&clink=dmmu.artist&a=b
http://www.jazzprofessional.com/Exchange/MarshallHughes.htm
1928- Burt Bacharach birthday.
http://www.bacharachonline.com/bacharach_bio.html
http://rollingstone.com/artists/bio.asp?oid=3155&cf=3155
1955 - Sam Jones of the Chicago Cubs pitched a no-hitter
against the Pittsburgh Pirates, winning 4-0. Jones became the first
black pitcher to throw a major-league no-hitter.
1955 - Gisele MacKenzie played a
singer on the NBC-TV program, "Justice". She introduced her
soon-to-be hit song, "Hard to Get". The song went to number
four on the "Billboard" pop music chart by September.
1955 - Passengers crowded in to ride
the last run of the Third Avenue elevated, "The El", in New
York City. The way-above-ground train trip down memory lane went from
Chinatown to the Bronx.
1956---Top Hits
Heartbreak Hotel/I Was the One - Elvis Presley
Standing on the Corner - The Four Lads
The Wayward Wind - Gogi Grant
Blue Suede Shoes - Carl Perkins
1956- the Sun Record Company in Memphis
ran an ad in the music trade papers announcing the first record by what
was termed "one of the truly great talent finds." The artist
was Johnny Cash, and the record was "I Walk the Line."
1957 - A.J. Foyt earned his first
auto racing victory in Kansas City, Missouri. He went on to become a
four-time winner of the Indianapolis 500 - in 1961, 1964, 1967 and 1977.
1960- Elvis Presley appeared on Frank
Sinatra's "Timex Spectacular" on ABC TV. Presley sang one
of Sinatra's hits, "Witchcraft," while Sinatra tackled "Love
Me Tender."
1964---Top Hits
Hello Dolly! - Louis Armstrong
Do You Want to Know a Secret - The Beatles
My Guy - Mary Wells
My Heart Skips a Beat - Buck Owens
1964-Barbra Streisand wins the Grammy
Award for Best Female Vocalist for The Barbra Streisand Album
1965- the Rolling Stones began a
two-day recording session at Chess Studios in Chicago, laying down the
basic tracks for "(I Can't Get No) Satisfaction."
http://www.ci.chi.il.us/Landmarks/C/Chess.html
http://www.history-of-rock.com/chess_records.htm
1969-the first transpacific sailboat
crossing by a woman was made by Sharon Sites Adams, who sailed form
Yokohma, Japan in a 31-foot fiberglass ketch, the “Sea Sharp.” She arrived
at San Diego, CA, on July 25, having covered a distance of approximately
5,620 miles in 74 days.
1969-Chevrolet announced that it
would discontinue production of the Corvair. The Corvair, which had
come under heavy attack in Ralph Nader's 1965 diatribe Unsafe At Any
Speed, never achieved great success, thanks mostly to its reputation
for poor safety. Nader called the Corvair "one of the nastiest-handling
cars ever built." The front-wheel drive model was accused of flipping
over in moderately severe accident conditions. In the end, over five
hundred individual court cases dealing with the Corvair were filed against
General Motors. GM never lost one of these cases, although it did settle
out of court in a number of them. Debate continues over whether or not
the Corvair was actually an unsafe car. Some contend that the front-wheel
drive and the heavy horsepower of the car were too much for some drivers
to handle. Whatever the case, the public's attitude toward the Big Three
car executives changed dramatically during the course of the debate
over Nader's book. The insidious tactics used by GM to silence Nader
may have been more damaging to the company's reputation than the poor
handling of the Corvair. In the end, the debate killed the sale of the
Corvair, and its discontinuation followed a 200 percent decrease in
the model's sales between 1965 and 1969. Today it is a “collector’s
item.”
1972---Top Hits
The First Time Ever I Saw Your Face - Roberta Flack
I Gotcha - Joe Tex
Betcha By Golly, Wow - The Stylistics
Grandma Harp - Merle Haggard
1977 - The Eagles earned a gold record
for the hit, "Hotel California". The award was the second
of three gold record singles for the group. The other million sellers
were "New Kid in Town" and "Heartache Tonight".
Two number one songs by The Eagles - "Best of My Love" and
"One of These Nights" - didn’t quite make the million-seller
mark.
1979- the new Jefferson Starship,
with Mickey Thomas replacing Grace Slick as lead vocalist, debuted at
a free concert in San Francisco's Golden Gate Park. Thomas had been
the lead singer on Elvin Bishop's 1976 hit "Fooled Around and Fell
in Love."
http://www.jeffersonstarship.com/star/index.html
http://www.geocities.com/starshipper.geo/
1980---Top Hits
Call Me - Blondie
Ride like the Wind - Christopher Cross
Lost in Love - Air Supply
Beneath Still Waters - Emmylou Harris
1985-The Jewish conservative movement
ordained the first female rabbi, Amy Eilberg at the Jewish Theological
Seminary in New York City.
http://www.syn2000.org/Bios/Fellows/eilberg.html
http://jewishsf.com/bk961122/life.htm#TOCRef2
http://www.shalem.org/sn/25.3eilberg.html
1985 - Lionel Richie received an
honorary Doctor of Music degree from Tuskegee Institute in Alabama -
his alma mater. Richie had put 14 hits on the pop charts in the 1980s,
including one platinum smash, with Diana Ross, "Endless Love"
and four gold records ("Truly", "All Night Long",
"Hello" and "Say You, Say Me"). All but one song
("Se La") of the 14 charted made it to the top ten.
1987 - In Washington, actor-director
Woody Allen and others testified in Congress against film colorization.
Ted Turner, multi-millionaire businessman, was transforming black-and-white
films he had purchased to colorize. Many people regarded his alterations
of original films as criminal acts.
1988---Top Hits
Wishing Well - Terence Trent D’Arby
Anything for You - Gloria Estefan & Miami Sound Machine
Pink Cadillac - Natalie Cole
Cry, Cry, Cry - Highway 101
1996- IBM and Sears signed a deal
to sell Prodigy to an investment group called International Wireless.
The two companies co founded the online company in 1984 and invested
more than $1 billion in the venture. It was one of the first internet
companies. The buyout was welcomed by Prodigy's management, who received
an ownership stake in the company
1998-Top Hits
Too Close-Next
My All- Mariah Carey
You re Still The One- Shania Twain
Everybody [Backstreet s Back]- Backstreet Boys
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E-Mail Removal Form: \http://65.209.205.32/LeasingNews/removalform.asp
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Leasing News, Inc. 346 Mathew Street, Santa Clara, California 95050 E-Fax: (781)459-4789 kitmenkin@leasingnews.org 
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