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Equipment Leasing Marketing Specialist,
Walnut Creek, CA. College Degree plus
equipment leasing experience required.
For a full job description: click here.

Email resume to sgreen@bankofthewest.com

At Bank of the West, we take pride in what we do. From contributing to nonprofits and volunteering in our communities to making a point to get to know our customers by name, we aim to stand apart. While many things have changed over our bank's long history, one thing has remained the same: commitment to our customers and our community.


Monday, May 2 ,2005


Classified Ads---Other eMail Postings
    Economic Events This Week
        Classified Ads---Help Wanted
            The List---Up-Dated
                Leasing Association Conferences
Pawnee Closes $57.5MM Revolver Loan
    News Briefs---
        Sports Briefs---
            "Gimme that Wine"
                This Day in American History
                    Baseball Poem

######## surrounding the article denotes it is a “press release”


Classified Ads---Other eMail Postings

When Leasing News first started its “classified ad” section on January 6, 2003, our goal was to help people find jobs. The “Help Wanted” section was originally free, but when we had over 150 ads, basically from brokers, looking for salesman to work on an “commission only” basis, the solution was to change to “paid ads.” Unfortunately, none of those who were advertising in this section wanted to pay for their ad.

During this time we always had a section for other places to also post, a “job wanted.” In this section, we also gave tips from others, such as to look everyone, tell everyone, approach looking for a job as a “job,” to sign up with a recruiter but not give them an “exclusive,” meaning if you found a job elsewhere, they did not earn a commission.

We also recommended Craig's list, which at one time was only in one city, then seemed to grow, and now is perhaps the most economical method to post a “newspaper classified ad. Printed newspaper classified is down considerably, where Craig's list is not only cheaper, but actually reaches more people. The cities have also expanded considerably. There are other illustration advantages, too.

Some people think there is an age divide among those who use computers. Most printed newspapers believe they are losing their 30 year old and under audience to the internet, whereas their market place is now more aimed at those over 50 years old, particularly 60 years old.

While I don't have enough information to comment on this (as a side not for over ten years I have been doing “dog and pony” shows about using the internet at local nursing homes, and in the last few years, I rarely do it as most are now on T1's and many travel around in their wheelchair with a wireless laptop---here in Silicon Valley,) the point being is not to leave any “stone unturned.”

Here are a group, some free, others a fee. If you know of one we have left out, please send to

www.craigslist.org (available in many cities now, use scroll feature)



Economic Events This Week

May 2
Construction Spending March

May 3
Factory Orders: March

May 5
Sales of Leading Retailer: April
U.S. Productivity: First Quarter
Weekly Jobless Claims

May 6
Consumer Borrowing: March
Unemployment April



Classified Ads---Help Wanted

Account Representatives & Sales Coaches

Account Representatives & Sales Coaches are needed in Nashville, TN & Austin, TX locations with exp. in finance and sales with a successful track record of sales leasing.  Positions are available for remote Account Executives with 8+ yrs Equipment Leasing Sales exp. Work directly with CFOs, CIOs, CEOs and other high-level executives.  Please send resume indicating position of interest and location: US_DFS_Staffing@dell.com.

About the Company:  
At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow.  We're the exclusive provider of leasing and finance services for Dell technology systems worldwide.


Asset Management

Asset Management:
Long Island City, NY
seeking an experienced off lease and repossession manager. Successful candidates should have prior experience. Email resume to ekaye@advantagefunding.us or fax to 718 392 5427.

About the Company: Advantage Funding is a leading commercial and consumer vehicle and equipment financing and leasing company, Long Island City, NY.


Equipment Leasing Marketing Specialist

Equipment Leasing Marketing Specialist,
Walnut Creek, CA. College Degree plus
equipment leasing experience required.
For a full job description: click here.

Email resume to sgreen@bankofthewest.com

At Bank of the West, we take pride in what we do. From contributing to nonprofits and volunteering in our communities to making a point to get to know our customers by name, we aim to stand apart. While many things have changed over our bank's long history, one thing has remained the same: commitment to our customers and our community.


Sales / Sales Representative

Motivated sales pro for expanding healthcare marketplace. Prior healthcare exper. a plus. Competitive comp plan & benefits.
Contact: jverbeerst@variantleasing.com

Variant Leasing is a rapidly growing nationwide independent lessor located in south Orange County, CA, specializing in the healthcare & commercial marketplace.



seeking energetic, exper; sales prof/ work Newport Beach CA & Deerfield IL Vendor Services Division offices/middle to large ticket resellers/orig. equip. mfg. Requirement/Apply click here

About the Company : CG Commercial Funding is a rapidly growing industry leader in middle/large ticket lease finance.



Sales Representatives:
Well-established leasing company seeks veteran sales professionals in the small and middle ticket equipment marketplace. Stay where you are and share in the profit of each deal you book with ACC. Fax resume: 801-733-2358.

About the Company: ACC (ACC Capital Corporation) is a diversified middle-market financial services company that specializes in structuring, origination, servicing and syndication of a broad array of lease products.





The List---Up-Dated

Available in Alphabetical order
and Full Chronological order


Allco Leasing and Financial Services of Lake Oswego, OR (03/05) old timer Jim Harris's leasing company sells company to LEAF Financial Corporation, a subsidiary of Resource America. Jim was one of the 80 brokers in an association in the 1970's who decided he wanted to be a lessor. His firm specialized in collateral deals over $100,000 in the Northwest, limiting brokers to 5%, often structuring transactions 1 st and 5%.

Silvermark Capital (03/05) a division of Sterling Bank in Houston, Texas, is reported to be making the move to get out of equipment leasing, as bank spokesman confirms Fred Van Etten and Daniel Fritz no longer with the bank. Whereabouts unknown. If you see either one, let them know we are seeking an interview. Other speculation is the bank is getting ready to take advantage of the “bank grab” going on in Texas, putting itself up for sale.

Commercial Money Center (CMC), Southern CA. (03/05) CMC Portfolio Turned Over to US Bancorp . “Should you or your readers have any questions regarding this matter feel free to contact me direct at 605 361 7781.”Troy Lang

3400 w 49th St #200

Sioux Falls, SD 57106

605 361 7781

tlang@stuartallan.com (12/04) Reportedly the settlements over unpaid leases continue two years after the bankruptcy of Commercial Money Center (CMC). Officers have been back in business since then, but under different names. The latest agreement involves Lakeland Bank and Royal Indemnity. Allegedly both firms filed claims against each other over the pools of commercial leases Lakeland purchased from CMC and surety bonds Royal issued that guaranteed lease income. Under terms of a recent agreements. Royal will pay $1.85 million to Lakeland, which in turn gets to retain $531,000 Royal already paid. The deal must still be approved by the U.S. Bankruptcy Court (5/2004) CMC Cases Like Timex—Keeps Going and Going. (11/03)The officers of this company are back in business while the "disputes" continue among insurance companies, banks, vendors, lessees, and perhaps only the attorneys are being remunerated (10/03) Ameriana said it will write off two lease pools in the third quarter, an action that will reduce the quarter's net income by approximately $2,784,000 or $0.88 per diluted share. Heretofore, Ameriana had established reserves against these lease pools equal to approximately 58% of the approximately $10,900,000 that currently remains outstanding. Note: NetBank and others have taken over certain aspects of the defaulted portfolio, as reported earlier, and suits with the insurance agency surely continue, while the class action suit continues taking depositions, while the former officers have started new leasing and finance ventures. (3/2002) Court filing agreements http://www.leasingnews.org/archives/March%202003/03-13-03.htm#cmc (3/2003) NetBank Lakeland settle BK for portfolio http://www.leasingnews.org/archives/March%202003/03-12-03.htm#new (3/2003) CMC attorney withdraws, not getting paid http://www.leasingnews.org/archives/March%2020

03/03-06-03.htm#cmc (3/2003) Class action lawsuit regards not being licensed in California for lease financing http://www.leasingnews.org/archives/March%202003/03-05-03.htm#believe 12/2002---Commercial Money Center Bankruptcy Docket for case 02-09721 http://two.leasingnews.org/temporary/bankruptcy.htm (12/2002) Ameriana Bancorp to Boost Reserves 4Q re: Commercial Money Center (Nasdaq: ASBI) announces that it will set aside additional reserves of up to $5.6 million in the Company's fourth quarter ending December 31, 2002. This action will reduce fourth quarter after-tax net income approximately $3.4 million or $1.08 per share, resulting in a net loss for both the quarter and full year. In 2001, Ameriana reported net income of $1,216,000 or $0.39 per diluted share for the fourth quarter and full-year net income of $3,800,000 or $1.21 per diluted share. Approximately $4.7 million of the additional reserves to be set aside pertain to Ameriana's investment in a pool of leases acquired from the Commercial Money Center ("CMC"), a now- bankrupt equipment leasing company. Ameriana originally purchased two separate pools of equipment lease receivables totaling $12,000,000 from CMC in June and September 2001, of which approximately $10,900,000 currently remains unpaid. Each lease in the pools was backed by a surety bond issued by one of two insurance companies rated at least "A" by Moody's Investors Services. The bonds guaranteed payment of all amounts due under the leases in the event of default by the lessee. Each pool was sold under a Sales and Service Agreement by which the insurers serviced the leases. In each case, the insurers assigned their servicing rights and responsibilities to Commercial Servicing Corporation, an affiliate of CMC, which also has filed bankruptcy. When the lease pools went into default earlier this year, one insurer made payments for several months under a reservation of rights while the other refused to make any payments. Both insurers now claim they were defrauded by CMC and are denying responsibility for payment. Ameriana is one of a number of financial institutions around the country that purchased interests in lease pools from CMC. All of the CMC lease pools are in default and in litigation. The Federal Panel on Multi-District Litigation has taken control over most of the federal actions involving the insurers of the lease pools and has assigned them to the U.S. District Court for the Northern District of Ohio, Eastern Division, for consolidated pre-trial purposes. (NetBank has $80 million as part of the suit, among others.) (10/2002) Deadline for filing for claims for Commercial Money Center has been extended since the proceedings were converted to a Chapter 7. The CURRENT attorney is Bradley Shraiberg and his phone number is 561.395.0500. He is the contact until a further motion is filed to have him removed (he said for geographical reasons, as it is now moving to the Southern District of California Bankruptcy court in San Diego .) ( Read about CMC ) (6/2002) files voluntary bankruptcy, #11, in Florida, all hell breaks loose (5/2002) Gets worse, officers may go to jail (4/2002) Many, many complaints; reports of leases where equipment never existed, paying for leases that do not exist, much behind the scenes on the reputation of the founders, lawyers having a field day, San Diego FBI investigating all.(3/2002) Throws in the towel, 128 employees out of work, Dir. of Marketing Bill Hanson not paid, goes back to work for himself, bringing Gil Evans and his son Ty with him. closes door, leaving many unpaid bills and questions, especially about Kiosk leasing. (2/2002) Returns $1.2 Million to Date admit many complaints by applicants, vendors, and brokers. Fails to secure insurance line of credit after September 11th.

Funding Tree (03/05) Kendra Bernal Gets One Year in County Jail, pleads her routine before the judge who buys it, just like all her victims fell for her story. She communicates from jail by internet to her boy friend and other friends, spinning her web (evidently she also reads Leasing News, as she has sent them our coverage of her sentencing.) (8/04) Kendra Bernal sentencing moved to October 13,2004 (7/2004) Funding Tree Kendra Bernal in Utah, out on $184,000 bail, due to report in California on August 25, 2004 for sentencing. (3/2003) wrap-up by the late award winning journalist Rene Tankersley, Landline Magazine: http://www.leasingnews.org/archives/March%202003/03-12-03.htm Nevada Attorney General Closes Legacy/Funding Tree Down http://www.leasingnews.org/archives/February%202003/ 02-27-03.htm#fdic the Year-end wrap-up by Rene Tankersley, Landline Magazine http://www.leasingnews.org/archives/February%202003/02-12-03.htm#easy (2/2003)---"I Really Didn't Know." Telemarketer confesses for her action, tells all: (2/2003)Rene Tankersley Landline Magazine up-dated 12/2002---Complaints continue about Funding Tree operation in Nevada keeping advance rentals. (10/2002) In the last episode, Kendra Bernal had resigned (went back to jail), a new president was named, and according to the attorney of record, the hearing before the California Department of Corporations was cancelled. The corporation did not have a Finance Lender's License to conduct business, and further was ordered to desist. The Funding Tree was appealing, until Kendra Bernal was arrested for violating parole. It appears The Funding Tree has moved to the State of Nevada, where a license is not required. Leasing News has two complaints, one in Maryland, the other in Kentucky, where advance rentals have been paid, one where the vendor has not been paid for the limousine, but leasing payments were taken out of the lessee bank by ACH. Riverside, CA ( 6/2002) New president says there is hope past vendors and brokers will be paid. Dept. of Corp. "cease and desist order" still in place. Riverside DA Jerry Fox warns, "Don't take advance rentals if there is no lease approval. "(6/2002) Kendra Bernal arrested for allegedly violating parole (5/2002) More complaints, although e-mails say some deals have funded and vendors have been paid---hope--- (5/2002) Many more complaints (4/2002) Many complaints. Vendors/brokers not paid.

NorVergence , New Jersey (03/05) Thirteen state AG's jump on Preferred Capital venue issue, little realizing that the company is closed to receivership (02/05) “ERA” contract a joke http://leasingnews.org/PDF/NorVergence_Rental_aggreement.pdf (02/05) Ohio Banks Affected by NorVergence Bankruptcy (2/04) Venue Losses by Lessors local and federal courts (2/04) NorVergence Mess Not Going Away, Perhaps Criminal Action (1/05 NY AG Eliot Spitzer settles two more, now at $13MM (1/05) Peter J. Salzano, CEO file BK 11 (1/05) No disagreements about “leasing companies caving in,” as more state AGs (six now) join in litigating leasing companies for settlements with NorVergence Leasing customers. (01/05) Irwin Financial $4 million NorVergence Charge off. (12/04) More Leasing Companies "Caving In" (12/04) Leasing News Editorial: Amicable, Generous Settlement for NorVergence Lessees (12/04) NY Atty. Gen. Gets Another $11 Million Settlement (12/04) Penn. AG Sues NorVergence/Salzano Brother (12/04) Other leasing companies follow GE's lead. (12/04) GE becomes hero, sets pace for other leasing companies. In a surprise move, GE Capital made a settlement with New York Attorney General Eliot Spitzer and his staff regarding 100 approximate leases for the so-called "matrix box" and long distance telephone service from NorVergence, who filed Chapter 7 bankruptcy in July (11/04) 41 Leasing Companies in NorVergence Dilemma (10/04) ELA meets NY Attorney General's staff (10/04) Leasing companies file on lessees, Weir Group has almost 1300 plaintiffs in class action suit, newspapers print poor picture of leasing companies (9/04) Florida attorney general requests leasing companies cease collecting lease payments; three other state AG's follow (8/04) First class action is filed, two others to follow. (7/2004) Campaign to Stop Leasing Company Payments (7/2004) Robert J. Fine Resigns as EAEL President, ran Finance Division, discounting paper to banks and others (7/2004) Telecom Agent Association starts “Legal Co-Op” to breaking third party leasing contracts sold by NorVergence or involved with NorVergence equipment and service. (7/2004) NorVergence files Chapter 7(7/2004) NorVergence files Chapter 11.(7/2004) NorVergence investigated for failing to pay its employees NorVergence (4/2004) "Mr. Arnold comes to NorVergence Capital from HP Financial Services, where he was the Finance Director for North America. At HP Financial Services, he was responsible for all financial functions and was instrumental in integrating the HP and Compaq Financial services portfolios. Mr. Arnold was part of management team that launched Compaq Financial Services in 1997."

Preferred Capital , Brecksville, Ohio (03/05) Leasing News has received several “insider” reports that the company may be closing its doors, primarily due to the debt with NorVergence and many lawsuits involved. Creditors to make decision whether bank goes into receivership. Several reports from community banks that Preferred Capital sold the same deal to each of them, called “double dipping.”


RW Professional , Long Island, NY (02/05) case postponed to after June, 2005, one source says Barry Drayer has let go the original attorneys and is using his best sales techniques in trying to plea a deal. (12/04) Bank of New York pays $24 million fine in order to avoid criminal indictment for allegedly failing to report suspicious activity at a branch. "Bank of New York eats $24,000,000 for not handling the infamous "E" account properly. Barry will never serve time in jail, but the deep pocket guys will roll to cover their ****." (9/04) Drayer Fires Attorneys, Trial Postponed until March, 2005 (8/04) Trial scheduled for October 14,2004. http://www.leasingnews.org/archives/August_2004/8-09-2004.htm#rw (6/2004) Trial to start October 14 th , 2004 http://www.leasingnews.org/Conscious-Top%20Stories/RW_update7.htm (11/03)Jury to be selected for trial on April 12,2004 (9/03) Defendants on bail, "house confined," with trial to start April 12, 2004. "Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnaires two weeks before jury selection on 3/30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt. to move documents to another location and keep boxes (2nd set) for the Courthouse." Last file is a letter: "Ms. Besser is currently subject to a 7:00 p.m. curfew as part of her pre-trial supervision and requests that the curfew be lifted on 10/19/03 so she may participate in a gathering in Manhattan." It appears for the defendants to ask to either/or travel from their home or at certain hours, as they are remanded to their residence with electronic monitors on their ankle. "MINUTE ENTRY; before USDJ Spatt on 9/5/03 @ 11:30 a.m., for Criminal Cause for Status Conference as to Dfts Payaddi Shivashankar, Susan Cottrell, Adam Drayer, Roger Drayer, RW Professional Leasing Services Corp., Rochelle Besser, Barry Drayer. Dft RW Professional Leasing Services Corp. present on bail with retained counsel Stuart E. Abrams. Dft Rochelle Besser present on bail with retained counsel Stuart Abrams. Dft Barry Drayer present on bail with retain counsel Stephen L. Cohen. Dft Roger Drayer present on bail with retained counsel Jerald Rosenthal. Dft Adam Drayer present on bail with retained counsel Thomas Marino. Dft Susan Cottrell present on bail with retained counsel Jerald Rosenthal. Dft Payaddi Shivashankar present in custody with CJA counsel Edward Jenks. Govt: Geoffrey Kaiser. Court Reporter: Harry Rapaport. Case called. Status Conference adjourned to 11/14/03 @ 1:30 p.m. before USDJ Spatt. Conference held. Speedy Trial Information on Dfts: Code Type: XT, Start Date: 9/5/03, Stop Date: 4/12/04. Excludable Delay entered on the record. Next Status Conference: 1) Conclude discovery 2) Set motion schedule. Questionnaires two weeks before jury selection on 3/30/04. 3/31/04 counsel to pick up questionnaires. 4/6/04 all counsel to agree on jurors who will return for Jury Selection. Jury Selection 4/12/04 @ 9:00 a.m. Consent to Magistrate Judge selecting jury by dfts and govt. No adjournments of Jury Selection date will be granted. Re: Bradley Simon's Letter dated 9/2/03. Govt to move documents to another location and keep boxes (2nd set) for the Courthouse. Notice of Appearance filed by Jerald Rosenthal for dft #4. (Coleman, Laurie)" (6/2002) 40 FBI agents raided the offices and arrested Barry and Rochelle, Roger and Jennifer Drayer. The investigation found $6.5 Million of fraud. Prosecutors said that the company, the RW Professional Leasing Corporation, concocted elaborate schemes using up to 100 rented mailboxes as far away as California to send phony checks, sham invoices, bogus leases and other false documents to banks in various states. Based on those documents, the banks lent RW millions of dollars to buy equipment and lease it out, prosecutors said. The schemes included multiple loans from different banks for the same medical equipment and loans for equipment that was never bought or leased, prosecutors said. Take the Money and Run:

Part I, http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun1.htm

Part II, http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun2.htm

Part III http://www.leasingnews.org/Conscious-Top%20Stories/moneyandrun3.htm

Orix Financial ORIX USA's Structured Finance division, based in Kennesaw, GA, recently exceeded $1 Billion in new business volume since its inception four years ago ( 01/05)ORIX USA Forms Corporate Finance Group (10/04) ORIX Announces Interim Results-Leasing Revenue Down. (7/2004) Reports Closing Kennesaw, GA Office, rental available. (4/2004) Gary Corr, president and COO of ORIX Financial Services, Inc. (OFS) announced the promotion of Bill G. Fite to group president of ORIX's equipment finance group (EFG). Many complaints by employees continue over lack of communication and broker promises. (1/04) On February 13th, forty people will be let go in Orix's New York Office and twenty-five in Kennesaw with layoffs continuing every two weeks from then on through the end of the fiscal year (3/31). “The layoffs will hit IT and Accounting the hardest but they will be across the board (SFG, EFG, RPG, Operations, HR).“Also, apparently there is an internal memo among the Dallas Executives that has a timeline for vacating Kennesaw entirely (1/04) “We Need Your Help!” Orix Employee Cries Out Loud ( http://www.leasingnews.org/archives/January%202004/01-16-04.htm#we ( 1/04) Orix Capital Markets will announce that they are shutting down the NY office. Major layoffs will hit the Kennesaw, Georgia office either mid or late February. Nothing is certain yet but it is probably safe to say that Orix will be out of the leasing business altogether at this time in 2005. (1/04) “ They have also already told the CIO, Chief Legal Officer, EFG Group President, and some other senior level people when their last day will be (1/04) Gary Gusoff is Gone---Five More to Follow (12/03) Despite the press releases and hoopla, according to a highly reliable source, Gary Gussoff last day will be December 31, with more officers to follow, with rumors Orix may be getting out of the leasing business in the USA (11/03)Fitch Withdraws ORIX Financial's Senior Debt Rating (11/03) " Holmes had four businesses reporting to him, the ones run by Hidder, Crain, Neptune and Fite. Today after the reorganization Corr gets only one of those businesses, the old Credit Alliance portfolio run by Fite. The other three organizations that Holmes recruited and nourished at OFS are all reporting elsewhere. How long will those guys stay around, they jumped ship from elsewhere to follow Holmes? And what is the fate of Fite, is he really necessary if all Corr has is the Equipment business?" (11/03)Fitch Places ORIX Special Servicer Rating Watch Negative| (10/03) http://two.leasingnews.org/loose_files/Orix_Motivational_Posters.ppt (10/03) Beyond comedy. (10/03) Holmes gone! (10/03) Orix floundering, Holmes to going, going... (9/03) US team in trouble, look for shake-up on top. (8/2001) "Orix Corporation was raised to "outperform" from "hold" by analyst Tomotaka Ohio at UFJ Capital Markets Securities". In a related story, Orix was reiterated "hold" by analyst Edward Gordon at WestLB Panmure. Insider tells us not much action happening at Orix. Shows what a press release about a new president coming on board and new credit manager. Hype still works on Wall Street. (7/2001) Hires Donald Cox as Exec.VP/CFO-30 years exp. at BofA. Many predict he will be a "figure head" and the company will not be around in two to three years---history will tell if this is correct or not. (4/2001) Orix to "consolidate;" close offices, moving to Atlanta, GA. (2/2001) Closes re-discount center, Steve Geller says "goodbye." (11/10 First six months profits up 14% at Orix! ) (11/8) New President at Orix appointed. 10/2000 "long-term Outlook has been revised from Stable to Negative". Credit Alliance has changed its name to ORIX Financial Services, 9/2000 Japanese Bank President commits Suicide (Orix is a 14.7% shareholder in bank having problems), (8/2000) closes small ticket vendor division in Portland Oregon, "Business as usual in New Jersey and with Brokers" says Steve Geller.

Cybernet , Grand Rapids (2/05) Trustee looks for help with Cyberco (1/05) Creditors looking for money, find a lot of expensive wine (11/04) Founder Barton Watson barricades self in house, commits suicide (11/04)According to public records, “approximately (70) banks and leasing companies are involved with a fraud estimated to be in excess of $60 million.

Conrad & Associates , Carlsbad Ca (02/05) Looks like Bill and TY Hanson, late of CMC have done it again. Complaint received “I think my investment of 50k is no more. Got $500 a month or 12% return for 2004. Got January 05, but none for this month. All phones etc off!!! Sold me a Promissory note.” Attempts to find them for a response have all failed. They seem to have disappeared.

Commercial Financial Group , Westlake, Ohio (02/05) John Spano, who spent five years in jail, was arrested again, for doing the same thing, keeping deposits and advance rentals.

Tech Com (Universal Equipment) , Southern California, (02/05) Ernie Reinhardt Guilty 13 Counts involving lease advance rentals and deposits.

Republic Leasing of South Carolina/NetBank (02/05) NetBank Loss $17.7 Million 4 th Q; Current period results include a provision expense against the company's Commercial Money Center, Inc. (CMC) lease receivables totaling $29.0 million, pre-tax (10/04) "Production within our business finance division (formerly known as Republic Leasing) increased by $4.4 million or 10% for a record of $46.9 million." (7/2004) New name :NetBank Business Finance (6/2004) July 1, 2004, Republic Leasing, a subsidiary of NetBank, will become a division of NetBank. (4/2004) ” The commercial equipment leasing business had production of $39 million, a decrease of $5.2 million or 12% “ (3/2004) Republic Leasing of South Carolina to Become Division NetBank April 1,2004. (7/2003) Jim Merrilees, CLP leaves to join Santa Barbara Bank & Trust Leasing Division as Vice President. Laura Poore also joins the Leasing Division as Marketing Representative. The division specializes in small-ticket leasing transactions originated through equipment leasing companies and brokers nationwide (2/2003) Forms a new division with Jim Merrilees heading it up in Portland-Merrilees left First Corp after Textron, Nations Credit, Greybank, Colonial Pacific Leasing. To concentrate on vendor/captive lessor marketplace. (1/2003) NetBank reported a net loss of $15.9 million (or $.36 per share) for the full year 2002 (12/2002)"The aim is to package the loans and sell them to investors for fatter, "banklike" profits; armed with new management and a coterie of experienced bankers plucked from rivals. .. languished since the Internet bubble burst. At their peak, the shares were trading at more than six times what they are fetching now. NetBank, with total assets of $3.76 billion, operates the nation's largest independent retail Internet bank. It also is a wholesale and retail mortgage lender. No one doubts that Internet banking is here to stay. Most banks -- large and small -- offer online banking in some form." Atlanta-Journal. $80 million loan Commercial Money Center insurance question. http://two.leasingnews.org/archives/December%202002/12-30-02.htm#NetBank (7/2002) cuts over 100 brokers, wants to become more efficient with remaining 150 brokers. (11/2001) parent and company now owned by NetBank; Dwight Galloway gets early Xmas present, broker community cheers the good news too. http://www.leasingnews.org/Conscious- Top%20Stories/dwight.htm 9/27/2000 "The expected result will be a sale of Republic Leasing" --- Dwight Galloway. He adds, "We have always been for sale for the right price, but in 13 years we have not sold off any leases or gone direct after broker's business, ever".


Celtic Capital Corp , Santa Monica, Ca. (1/05) Discovery Bank of San Marco, CA, to purchase certain assets, including its $23 million loan portfolio, and assume certain liabilities/ Celtic to become subsidiary and continue operating the commercial finance business under the Celtic name.

Penske Truck Leasing , Fl (1/05) Sues Bank of America for $1.6MM Nigerian type scam, prof. believes Nigerian company sent him check to cash for Penske refund, where he received a percentage for “processing” it.

Dolsen Leasing Company, Yakama, WA (1/05) Bob Dolsen passes away, the founder of the oldest independent leasing company in Washington State.

DVI, Philadelphia (01/05) BK Trustee Seeking “Vendor Payments” 90 Days, meaning deals funded within last 90 days before bankruptcy, also going after broker commissions paid during this time period. (5/2004) Fitch Ratings places certain classes of DVI, Inc. equipment transactions on Rating Watch Negative DVI (4/2004) the bankrupt Jamison medical finance company, loaned its chief executive more than $500,000 - and loaned another senior executive $150,000, and creditors want the loans repaid. (12/03) The U.S. District Court entered an order appointing Cedar Street Group as lead plaintiffs, and Krislov & Associates, Ltd. as lead attorney in the securities class actions brought against DVI, Inc.'s former chief executive officer, Michael A. O'Hanlon, and chief financial officer, Steven R. Garfinkel, and DVI's former lead underwriter, Merrill Lynch & Co. Claims against DVI, Inc. (DVI or Company) are currently stayed due to its Chapter 11 filing. (9/03) Suit Filed Against Former Senior Executives of DVI as law suits galore appear (8/03) starts cutting employees, half let go, close to 200 now (8/03) DVI files BK (8/03) Leasing News insiders say deals not being funded, real problems, company most likely will file bankruptcy, major problems. (12/2000 out of broker )



Leasing Association Conferences—Spring

May 4-6, 2005

Loews Miami Beach Hotel
South Beach, Miami, Florida

for more information, please go here:


May 5, 2005

OVLA Convention
Columbus, Ohio

49th Year Ohio Vehicle Leasing Association
Holiday Inn-West, I-290/Roberts Road Interchange

Full Program: click here

For information, please contact:

Dick Lightner ,
Executive Vice President
The Ohio Vehicle Leasing Association / The OVLA
(AC 614) 789.0354  /  1.800.369.5633 / ovla@uautolease.com
6083 O'Sweeney Lane, Dublin, Ohio, 43016


May 12-15,2005

Hyatt Regency Union Station
St. Louis, Missouri

Claude Elmore—Conference Chairman
Netbank Business Finance

Conference information:

Registration Form:


National Vehicle Leasing Association

Annual Conference & Exposition

May 18th - 21st, 2005
Orlando, Florida

Regional meetings are generally open to non-members.

Conferences are open to all.



Current Registrants:




### Press Release ######################

Pawnee Leasing Corporation announces the closing of a $57,500,000 multi-year revolving credit facility with JPMorgan Chase Bank, N.A.

Gary Souverein, Executive Vice President, stated, "As our industry continues to be closely scrutinized by the credit markets, especially in recent years, we are pleased with the very positive reception afforded Pawnee Leasing within the lending community. It is a credit to our business model, dedicated employee team and important broker/lessor origination network.”

Ronald Schneider, Northern Regional President, stated, “This facility builds upon the long relationship Bank One has enjoyed with Pawnee Leasing and we're pleased to be able to continue supporting this highly focused and entrepreneurial firm.”

Pawnee Leasing Corporation, providing lease financing in the lower 48 states since 1982, purchases small-ticket “Start-Up” and "B" Credit transactions exclusively from a national network of brokers/lessors. For more information please contact Gary Souverein, Executive Vice President or Scott Woodring, Vice-President, Marketing at 800-864-4266.

Gary H. Souverein
Pawnee Leasing Corporation
Executive Vice President, Administration
700 Centre Avenue
Fort Collins, CO 80526
(800) 864-4266 ext. 222
(970) 482-2666 (Fax)

(“like you, we're doing the best we know how each day.” Gary.)


#### Press Release ####################

News Briefs----

At meeting Tuesday, Fed seen moving again on small increase in interest rates

Owners Hold Off On Sales Of Homes

S.D. firm's diabetes drug gets go-ahead


California Nuts Briefs---

In California, Governor Slips From Heights

Governor pushes immigrant hot button



“Gimme that Wine”

Take my wine... s'il vous plait!
Can France continue to rely on its past glory to sell wine?

Fine wine flows from the 'Show Me' state

Vertical vineyard fights fears of slides Planting down steep slope has La Honda residents worried



This Day in American History

    1611—King James Bible Published, major religious change which lead to religious groups seeking freedom of religion in the new world. King James 1 had appointed a committee of learned men to produce a new translation of the Bible in English. This version, popularly called the King James Version, is known in England as the Authorized Version.
    1837-birthday of our Sue Robert's relative, Henry M. Robert (General, US Army), author of Robert's Rules of Order, the standard parliamentary guide still in use today.
    1853 - Franconi's Hippodrome opened at Broadway and 23rd Street in New York City. The 4,000-seat facility opened in grand style for a hippodrome (an arena for a circus or games) with a chariot-and-ostrich race. It was popular for five years.

    1843-Elijah McCoy was born in Colchester, Ontario. His parents escaped slavery in Kentucky by traveling along the Underground Railroad. This famous African-American inventor is credited with over 50 patents and his lubricating oil and systems were quite famous in its day. His most famous was the McCoy Lubricator. McCoy invented a device to oil the machinery while it was working. It was soon used on engines, train locomotives, on Great Lake steamships, on ocean liners and on machinery in factories. His invention became so popular that no engine or machine was considered complete until it had a McCoy Lubricator. The phrase "The Real McCoy" soon caught on as a way of saying that people were getting the best equipment available.
    1863-General Stonewall Jackson, leading a large part of Gen. Lee's army, delivered a devastating blow on Gen. Hooker's right flank. Reconnoitering with his staff at day's end, Jackson and his group were mistaken for Union soldiers and fired on by their own forces. Jackson's shattered left arm had to be amputated. While he was hospitalized pneumonia set in; his death came on May 10.
    1885-Good Housekeeping magazine makes its debut, becoming one of the most popular magazines for decades, setting many styles and standards for its day. It is still popular in this century.
    1876- The first baseball players to hit home runs were Ross Barnes of the Chicago White Stockings and Charles Wesley “Baby” Jones of the Cincinnati Reds, at Cincinnati, OH. Chicago won 15-9. (sorry, books don't tell which hit the first home run. editor).
    1903-Pediatrican and author Benjamin Spock's birthday, born at New Haven, > His book on childrearing, Common Sense Book of Baby and Child Car (later called Baby and Child Care), has sold more than 30 million copies. It also applies to adult behavior, if you read it in that manner. In 1955, Spock became a professor child development at Western Reserve University at Cleveland, Oh. He resigned from this position in 1967 to devote his time to the pacifist movement, primarily very vocal in the protest of the Viet Nam War. He died in San Diego, March 15, 1998.
    1904- Singer and actor Bing Crosby was born in Tacoma, Washington.
He sang with dance bands from 1925 to 1930, and in 1931 began work in radio and films. Crosby gained enormous popularity for his crooning style, which was ideally suited to the new radio medium. His recording of "White Christmas" is said to be the best-selling record of all time. In 1944, he won an Academy Award for his performance in the film "Going My Way." His other notable films included "The Country Girl" in 1955, "High Society" in '56 and the remake of "Stagecoach" in 1965. Bing Crosby had a lifelong love affair with the game of golf. In 1977, he dropped dead after completing a round on a golf course in Spain.
    1907-Birthday of Pinky Lee (Pincus Leff), who had a very popular TV Show, “The Pinky Lee Show” which telecast from Los Angeles in the early 1950's. Pinky Lee died April 3, 1993 at Mission Viejo, Ca.
    1923- The first transcontinental nonstop airplane flight was made by Lieutenants Oakley G. Kelly and John A. Macready of the Navy Air Service. They took off from Roosevelt Field, NY at 11:36pm and arrived at Rockwell Field, Coronado Beach, CA, at 12:26pm the next day, covering a distance of 2,700 miles in 26 hours.
    1924-birthday of singer/actor Theodore Bikel, Vienna, Austria http://www.bikel.com/
    1929 - Virginia's worst tornado disaster occurred. Six tornadoes, two of which were west of the Blue Mountains, killed 22 people. Twelve children and a teacher were killed at Rye Cove, in Scott County. Four schools were destroyed by the storms.
    1930-First game of National Negro Baseball League, played in Indianapolis,
    1931—Pianist/Organist 1931-Richard “Groove” Holmes birthday
(Warren Luening and I along with Chris Morgan and/or Dave Silverman saw Richard “Groove” Holmes in person on the Hollywood Strip, plus Mose Allison, Cannoball Adderly, and others in the early 60's.)
    1935- Link Wray, one of the more influential rock guitarists of the 1950's, was born in Fort Bragg, North Carolina. Wray introduced the distorted fuzz-tone guitar sound on his single "Rumble," which by 1958 had sold a million copies. It is said to have been recorded as early as 1954. Link Wray's playing was a tremendous influence on such British rock stars as Jeff Beck, Pete Townshend and John Lennon
    1938-Ella Fitzgerald, with Chick Webb's band, records “ A Tisket A Tasket,” ( Decca)
    1939-New York Yankees first baseman Lou Gehrig asked manager Joe McCarthy to take him out of the lineup for the game against the Detroit Tigers.
“Joe, I'm out of the lineup. I'm just not doing the team any good."
By his sitting out, Gehrig's record streak of consecutive games played, begun May 25, 1925, stopped at 2,130. The slugger complained of fatigue, but he was really suffering from A.L.S. , amyotrophic lateral sclerosis, a condition later known as Lou Gehrig's disease. Gehrig never played again.
    1946 –Nineteen-Sixties' teen star Lesley Gore was born in Brooklyn, New York; later moving with her family to Tenafly, New Jersey. She was only 16 when she signed with Mercury records, and became a top star with such hits as "It's My Party" and "Judy's Turn to Cry." Until 1966, Lesley Gore was one of the most successful American teen singers. An attempt in the 1970's to establish herself as a singer geared to the adult market was not particularly successful, and she later turned to performing her hits at oldies concerts.
    1950- Lou Gramm, lead vocalist with Foreigner, was born in Rochester, New York. By the beginning of the 1980's, their hard rock music had gained them worldwide sales of more than 21- million records. Their 1977 debut album yielded three hit singles - "Feels Like the First Time," "Cold as Ice" and "Long, Long Way From Home." Their subsequent million-sellers included "Hot-Blooded" and "Double Vision," both from 1978, "Waiting For a Girl Like You" from 1981 and 1984's "I Want to Know What Love Is." Gramm departed Foreigner in 1990 to continue a solo career that had begun several years earlier. He had had a top-five hit in 1987 with "Midnight Blue."
    1953 - Dark Star defeated the heavily favored Native Dancer to win the Kentucky Derby. A $2 wager to win on this dark horse would have put $50 in your pocket as Dark Star was a 25-1 long shot.
    1954---Top Hits
Wanted - Perry Como
Young at Heart - Frank Sinatra
Make Love to Me - Jo Stafford
Slowly - Webb Pierce
    1954-Stan Musial of the St. Louis Cardinals hit five home runs in a doubleheader against the New York Giants in St. Louis, setting a major league record. The Cardinals won the first game, 10-6, but fell to the Giants in the nightcap, 9-7.
    1956 -- For the first time in Billboard history, five records appear in both the pop and R&B Top 10. They are: Elvis Presley's "Heartbreak Hotel" , Carl Perkin's "Blue Suede Shoes" , Little Richard's "Long Tall Sally", the Platters' "Magic Touch" and Frankie Lymon & the Teenagers' "Why Do Fools Fall in Love". Presley's & Perkins' hits are also in the country & western Top Ten at #1 & #2 respectively.
    1957- Elvis Presley recorded "Jailhouse Rock," a Leiber and Stoller song that would become the title of Presley's next movie.
    1960- Ben E. King ended his association with the Drifters by signing a solo contract with Atlantic Records. King was the lead on such Drifters' hits as "There Goes My Baby," "Save the Last Dance For Me" and "This Magic Moment." King's first hit on his own was "Spanish Harlem," produced by Phil Spector.
    1960 - Harry Belafonte presented his second Carnegie Hall concert in New York City.
    1962---Top Hits
Good Luck Charm - Elvis Presley
Soldier Boy - The Shirelles
Stranger on the Shore - Mr. Acker Bilk
Charlie's Shoes - Billy Walker
    1970-Diane Crump of Oldsman, FL, became the first woman to ride in the Kentucky Derby, riding “Fathom” in the 1.25 96 th Kentucky Derby, Churchill Downs, KY. In the 17-hourse race, she finished 15 th .
    1970---Top Hits
ABC - The Jackson 5
American Woman/No Sugar Tonight - The Guess Who
Love or Let Me Be Lonely - The Friends of Distinction
My Woman My Woman, My Wife - Marty Robbins
    1978---Top Hits
Night Fever - Bee Gees
If I Can't Have You - Yvonne Elliman
Can't Smile Without You - Barry Manilow
Every Time Two Fools Collide - Kenny Rogers & Dottie West
    1981 - Scottish singer Sheena Easton made it to the top spot on the pop music charts for her first -- and only -- time. "Morning Train (Nine to Five)" knocked "Kiss on My List", by Daryl Hall and John Oates, out of the top of the music charts. "Morning Train" pulled into the top spot for a two-week stay. Easton had been an actress, appearing as a singer in the 1980 BBC TV documentary, "The Big Time"; and this time she made it to the big time, winning the 1981 Best New Artist Grammy Award. On U.S. TV, she is remembered as Sonny Crockett's wife in five episodes of "Miami Vice" in the 1980s and for singing the title song in the James Bond flick, "For Your Eyes Only". Easton scored 14 hits on the charts between 1981 and 1991. Seven of those hits made it to the top ten. "The Lover in Me" in 1988 was the closest she ever came to having another number one hit. It stopped climbing at number two.
    1985 - The General Motors X-Cars rolled off the assembly line in Detroit, MI for the final time on this day. The cars were a dismal failure, despite being a hit in the beginning, as many claimed they were brought out too early and not “tested.” The X-Cars were subject to massive recalls which cost G.M. many millions of dollars.
    1986---Top Hits
Kiss - Prince & The Revolution
Addicted to Love - Robert Palmer
West End Girls - Pet Shop Boys
Now and Forever (You and Me) - Anne Murray
    1986 - The photo essay, "A Day in the Life of America", began as two hundred photojournalists covered the USA to take 350,000 pictures. For publication of the beautiful coffee table book, only 350 pictures were selected. It is considered a collector's item today.

    1988- Pete Rose becomes the first manager to be suspended for an on-field incident as National League President Bart Giamatti issues a thirty day suspension for his shoving of umpire Dave Pallone.
    1988---Top Hits
Anything For You- Gloria Estefan & Miami Sound Machine
Shattered Dreams- Johnny Hates Jazz
Wishing Well- Terence Trent D'Arby
One More Try- George Michael
    1993---Top Hits
Freak Me- Silk
That s The Way Love Goes- Janet Jackson
Informer- Snow
Love Is (From "Beverly Hills, 90210")- Vanessa Williams/Brian McKnight
I Have Nothing (From "The Bodyguard")- Whitney Houston
    1998----Top Hits
Too Close- Next
My All, Mariah Carey
You re Still the One- Shania Twain
Everybody [Backstreet s Back]- Backstreet Boys
    1990 - Fourteen cities in Florida, Georgia and South Carolina reported record high temperatures for the date as readings soared into the 90s. Tampa FL reported a record high of 97 degrees, and Fort Stewart GA was the hot spot in the nation with a reading of 100 degrees.
    2001-- Over 40 fans are ejected and the game, which is delayed for 12 minutes when the umps need to pull the Yankees off the field, comes close to be forfeited by the Twins as unruly spectators at the Metrodome pummel Chuck Knoblauch with coins, plastic beer bottles and golf balls in left field. Twin skipper Tom Kelly appeals to crowd to be calm as the home team defeat their former second baseman and the Yankees, 4-2.
    2003-- The players' association agrees to a two-year experiment in which the winning league of the All-Star Game will have home-field advantage during the World Series. Other changes include roster increase by 2 to 32 players, a separate ballot of managers, coaches and players to be done during the week prior to the game to name the additional nine position players and eight pitchers for each team.

Stanley Cup Champions This Date

    1967 Toronto Maple Leafs



Baseball Poem

    Opening Day in Chicago

        seasons begins
        on a cold afternoon
        as blankets warm cheering fans and

        the first pitch soars across home plate
        stinging our catcher's hand
        frozen inside
        his mitt.

Written by Dan Zamudio, published in his
book “Catcher in the Wry” Baseball Poems
McFarland & Company, Publishers


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