Wednesday, May 18, 2005
Classified Ads---New 21 Day Policy
######## surrounding the article denotes it is a “press release”
Classified Ads---New 21 Day Policy
To help employers reach the right person, Leasing News has changed its policy to run “help wanted” ads for 21 days.
For an employer to place an ad under our new program, please go to:
“Job Wanted” ads remain free. If you are looking work, or a better job, or a different location, you may post your “free” ad at: http://22.214.171.124/AL/LeasingNews/PostingForm.asp
Leasing News usually has from 90 to 100 ads running Continuously. We verify the addresses and that they are “active” ads every 30 to 40 days. We offer to re-write or re-post ads, especially adding a resume or picture.
Some have been there a long time, some have not. We find employment for attorneys, CFO's, operations managers, and even senior management, in addition to credit and sales positions.
We also strongly recommend that you advertise everywhere you can. Many sites are also free. We hear from those seeking work in the leasing industry that they find Craig's list, monster, and jobs in the money the best.
For employers, be aware that many human resource sites and professional recruiters also use the same lists. So instead of a local newspaper that may reach 500,000, or even a monster.com that may reach 10 million, you should try Leasing News, where we reach only 25,000 to our website. We're smaller, but we are read by the people you want to reach. They also may know a colleague or may give your company a referral as they read it in Leasing News.
Please go to:
Economic Events This Week
May 17 (yesterday)
J. Michael Fitzgibbons Passes Away
J. Michael Fitzgibbons, longtime equipment leasing industry executive and Managing Director of Overland Capital Group, Inc. died unexpectedly of heart failure on Sunday, May 15, 2005, at his home in Saratoga Springs, New York. He was 55.
“Michael was a trusted colleague and good friend,” said Jim Godec, Chief Executive Officer for Capital Group, whose company is headquartered in Boston, MA., with its equipment leasing division near Albany, N.Y “We relied on his strength, humor and counsel. Michael was a highly intelligent, steady and good-natured person who made friends of everyone he worked with, both in the U.S. and overseas. The large number of people who loved and respected Michael is reflected in the outpouring of sympathy we have seen over the past few days. Our thoughts and prayers are with his family at this difficult time,” he said.
“Michael was one of those rare individuals who brought tremendous talent to every challenge he faced. He understood equipment leasing in all its aspects and was an industry champion,” said Russ Wilks, President of Capital Group. “There are few of us who could match his experience and expertise, but it is his friendship we will miss the most. Our hearts go out to his wife and children."
According to a press release sent out by Capital Group, "Mr. Fitzgibbons was an integral part of the group of real estate and equipment leasing industry executives who founded Overland in October 2001. Michael brought more than 30 years of experience to Overland, a U.S.-based financial services company that provides real estate and leasing investment products and financial services to international and domestic investors. Mr. Fitzgibbons was responsible for all operational aspects of Overland's equipment leasing division, including lease servicing, reporting, accounting systems and tax. He also served as president of Overland Asset Management, LLC, Overland's real estate asset management division.
"Before joining Overland, Mr. Fitzgibbons was employed by KeyCorp (NYSE: KEY) for more than 30 years, holding various management positions, including vice president and auditor, executive vice president of Keycorp's mortgage company, and executive vice president of KeyBank USA. As Executive Vice President of Key Equipment Finance, he was a member of the management group responsible for all equipment leasing initiatives within KeyCorp for 12 years.
"Mr. Fitzgibbons attended Syracuse University and the School of Bank Administration at the University of Wisconsin.
"He leaves a wife, Carol, and two children, Katie and David.Mr. Fitzgibbons was an integral part of the group of real estate and equipment leasing industry executives who founded Overland in October 2001. Michael brought more than 30 years of experience to Overland, a U.S.-based financial services company that provides real estate and leasing investment products and financial services to international and domestic investors. Mr. Fitzgibbons was responsible for all operational aspects of Overland's equipment leasing division, including lease servicing, reporting, accounting systems and tax. He also served as president of Overland Asset Management, LLC, Overland's real estate asset management division.
Before joining Overland, Mr. Fitzgibbons was employed by KeyCorp (NYSE: KEY) for more than 30 years, holding various management positions, including vice president and auditor, executive vice president of Keycorp's mortgage company, and executive vice president of KeyBank USA. As Executive Vice President of Key Equipment Finance, he was a member of the management group responsible for all equipment leasing initiatives within KeyCorp for 12 years.
Mr. Fitzgibbons attended Syracuse University and the School of Bank Administration at the University of Wisconsin.
He leaves a wife, Carol, and two children, Katie and David.
Funeral arrangements are through William J. Burke and Sons Funeral Home. Visitation is from 4 p.m. to 8 p.m. today, Wednesday, May 18, 2005 at the funeral home, 628 North Broadway, Saratoga Springs, New York, 12866. A funeral mass will be celebrated at 10 a.m. on Thursday, May 19, 2005 at the Church of St. Peter, 241 Broadway in Saratoga Springs. Burial will follow in St. Peter's Cemetery.
The family suggests donations in Michael's memory to the Make-A-Wish Foundation http://www.wish.org, or the Saratoga County Association for Retarded Citizens (ARC) http://www.saratogaarc.org.
St. Louis, MO
By: Charlie Lester
(with the permission of the NAELB Board of Directors)
By any standard, the 2005 annual National Association of Equipment Leasing Brokers Conference was a tremendous success. It was a blending of the old and the new with an energy and enthusiasm level that was refreshing as much as it was tiring for an old guy like me. I have not seen so much energy and enthusiasm in the last 15 years of attending the various industry association conferences.
The NAELB conference drew 364 attendees from its membership of 592. More importantly in my opinion, 119 were attending their first industry conference and 60 were new members. The number of exhibitors was over 40 with 39 claiming to be funding sources. As usual, some of the funding sources were brokers or superbrokers pretending to be true funding sources, but the question that stumped those that attended Dwight Galloway's session on “Do You Know Your Funder?” was “what is a true funding source?” It would interesting to hear what your readers define as a “true” funding source.
Probably the most interesting news with the “funding sources” was the emphasis on C & D level credits. Using the Exhibitor Profiles passed out to the attendees, 19 said their credit window was for A & B level credits only, but 20 said their credit window covered C & D level credits. Wonder if the C & D level sources have ever heard of the old adage that you can't compensate for risk with rate? Guess not or there would not be so many of them------at least for now.
The blending of the old and the new was very apparent. Bruce Kropschot was moderator for a session on “How to Get Top Dollar When You Sell Your Lease Brokerage Business” with Gerry Oestreich, Jim Borland and Charlie Lester as three old guys telling the story on how they sold their companies. At the end of the session, Jim Borland of US Energy Capital announced his plan find a merger or acquisition partner to help him realize the full potential of his niche market. He has a large number of national programs he has been developing for the past 25 years that the big guys are still trying to figure out how he did it. A press release from Jim is expected soon.
The new wave that pushes the edge of technology with the Internet as a marketing tool included Bob Anderson's session as moderator on “Lots of Leads for a Little Loot” and Kurt Hess and Gary Saulter's session on “Winning with Cutting Edge Marketing Tactics”. Looks like the old guys will have to learn more of the modern technology to keep up with the kids of the industry. What ever happened to the simple phone and fax as a way to communicate? What's a BLOG? Sounds like a horror movie to me.
Old or new, the sessions were well attended and participation was high even on Saturday afternoon when the sessions are normally attended by the janitors cleaning up and the presenters.
Claude Elmore somehow found the key to success as far as organization and execution of the pieces that make for a very successful conference. However, Claude has failed to learn that the Conference Chair who has a suite should give a party for those that made him successful. However, Claude is young and almost as cheap as Dwight Galloway. Even the Power Point presentations came off with very few computer problems that somehow have plagued sessions in the past. How Claude did that may be the 8th wonder of the world.
Donna Cole had the joy of turning over the job as President to Heather von Bargen from Caladesi Leasing. Somewhere in the depths of my little brain was the saying that “If you want a job done right, give it to a woman”. If you look up a woman leader in the dictionary, you will find a picture of Donna Cole. She has been a quiet, strong leader over the past year that has been able to avoid controversy that could have been divisive to the association.
After spending some time with Heather, I can tell you that she is a human dynamo that will follow in Donna's footsteps with strength and an unbelievable drive. I am glad I don't work for Heather since I would not enjoy being in rehab for exhaustion most of the time.
All the old pros were there, but there is a changing of the guard in the NAELB in my opinion. The members are younger, better trained in the technology necessary to succeed in today's environment and their energy level is disgusting. I am just glad I am nearing the end of my career in this great industry since I would not want to compete with the new breed of brokers we have today. To you other old folks, learn the new technology, adjust to the industry changes and take lots of vitamins or these new kids will eat your lunch and you won't even know it.
I say kids respectfully, but also with a sense of humor. Some are so young; I don't know whether to shake their hands or put them over my shoulder and burp them.
Since I am trying to move to retirement more and more, this conference may be my last annual conference and I thank all of you that have helped me have what I believe has been a meaningful career with respect for my competitors and customers.
Thank you and God Bless.
CyberNET creditors eye Huntington Bank for answers
By Ed White
The Grand Rapids Press
GRAND RAPIDS -- Huntington Bank seemed proud to count CyberNET Group as a customer. The proof was framed on a wall at the high-tech company.
"We want clients who share our values," said John Irwin, a Huntington senior vice president, promoting CyberNET in the bank's 2002 annual report.
CyberNET's jilted creditors want to know more about that relationship.
Since the November collapse of CyberNET, and its parent Cyberco Holdings, much attention has been placed on the $1 million auction of what remained at headquarters: computers, wine, luxury cars, fine furniture.
Now the emphasis is turning to more significant nitty-gritty: the flow of millions of dollars in the months before fraud was discovered. No one is accusing Huntington of wrongdoing, but creditors and the bankruptcy trustee want answers from Cyberco's lead bank.
The bank is a "critical witness. ... All roads seemed to lead to or from Huntington," Hal Nelson of the trustee's legal team said at a recent court hearing.
"We have an interest in determining what money came in to (Cyberco), where it came from and, of course, what money went out," Nelson told a judge.
Cyberco's own records can't be trusted or have been seized by the FBI. Huntington is a key source because it is required to keep reams of data, due to federal banking rules. The bank already has turned over 12,000 documents to the trustee, with more to come.
There is another important reason to put a spotlight on Huntington.
Nelson said Cyberco apparently paid off $15 million in bank debt within months of its demise. At the same time, the company was gathering millions in new loans from financiers across the country, insisting the cash would go for computer servers.
In truth, there was no new equipment, just hollow black boxes with blinking lights.
"Whether or not (the payments) are suspicious is not the most important fact. The fact is Huntington got them," said Steve Rayman, the trustee's co-counsel.
Trustee has questions
The trustee's job is to hunt for assets that can be distributed to Cyberco's creditors. In some circumstances, the trustee can try to recover money spent in the weeks before the bankruptcy.
Huntington officials will face questions by the trustee's legal team, perhaps later this summer after all documents are reviewed.
"I want to stress this: We don't know if we have causes of action against Huntington or any lender," Nelson said. "We believe we will at the end of the day, but we don't know which lender or how much. ... This investigation is going to take a long time."
A Huntington spokesman said the bank's West Michigan president, James Dunlap, was unavailable Friday and would not comment on a pending legal case. The bank issued a statement saying loans were repaid "in the normal course of business."
Cyberco's payments "should not be misinterpreted by ... other creditors seeking to recoup losses," the bank said.
Creditor wants answers
Some of the sharpest criticism is coming from El Camino Resources, a California leasing company that lost $11.8 million with Cyberco and wants a "full, unfettered examination" of Huntington.
El Camino especially wants to know what alarms, if any, went off at Huntington when Cyberco was paring its debt with checks written from Teleservices Group, a phony equipment vendor created by company executives.
Did Huntington recognize that Teleservices checks were signed by the same Cyberco executives who regularly dealt with the bank?
"There was no logical business reason why a supplier to Cyberco should be paying millions of dollars to Huntington," El Camino attorney John Graham said.
Claims in the bankruptcy case are just under $100 million. Nelson said it's too early to know how much money will be available to creditors, but they should not expect to be made whole.
"This is not going to be a case where someone gets 60, 70, 80 cents on a dollar," he said.
Leasing Association Meetings Open to Non-Members
May 26, 2005
Meet & Greet
Hosted by Bruce Smith, Diversified Capital Credit, at the Springbrook Country Club, Morristown, NJ.
Lunch and Roundtable discussion of current leasing issues.
Call the EAEL office for registration form, 212 809 1602. Fax 212-809-1650
June 6-7 ELA Bank Leasing Conference
Equipment Leasing Association
Who Should Attend?
Senior and middle level corporate executives responsible for managing a leasing subsidiary of a national or regional bank; sales managers and leasing account managers from these institutions; and companies who provide services to these organizations.
For complete details, including registration information please go here: http://www.elaonline.com/events/2005/banklsg/
I thought I would send you an email in reference to one of the WILDEST, MOST ENJOYABLE, leasing events in the Mid Atlantic area. For the past seven years a group of leasing professional (usually between 100- 120 attendees) kick off the summer season by gathering together in Hanover Maryland, for the annual "EAEL Networking Crab Feast"
Any of your readers within walking, driving, or flying distant of BWI airport in Baltimore should consider attending this leasing event. It is advertised as a social gathering however with most situations where 10 or more leasing people gather together it quickly develops into a Business Opportunity for everyone. This is the type of event where long-term business relationships are strengthened and new ones are established.
And it all happens as people are elbow deep in crab shells, crab soup and pitchers of cold beer. "A REAL BALTIMORE TRADITION"
The event is open to everyone EAEL members and Non- Members. The group is usually made up of brokers, lessors, funders, small ticket, mid market and large ticket leasing professionals, bankers, attorneys and just about anyone else that has the slightest connection to the industry and wants to enjoy a night of fun,great food. and excellent copmpany.
The event is hosted by :
I highly recommend everyone to mark their calendars for June 9, 2005
Scott Wheeler C.L.P
UAEL Oregon Region Presents
An Evening at the Portland Beavers Baseball Game
Call UAEL at 760-564-2227 to REGISTER NOW (before May 16 th ) as this is a first come, first serve event, and tickets are limited!! This is an event you will not want to miss.
When: Thursday, June 09, 2005
Where: PGE Park – Portland OR
Time: The game starts at 7:05 but you are encouraged to come early.
Cost: $35.00 for members, and $40.00 for non-members.
Event: This is the most popular event at the ball park, as Thursday's are considered “Thirsty Thursdays” as beers are only two dollars ($2.00). June 9 th is “Fresh Beer Night with the Budweiser Clydesdales pre-game appearance”. The mighty Beavers will be playing Tucson. We have reserved a LUXURY SUITE at the top level, in the middle, right behind home plate. Simply put, you cannot find better accommodations. It is also important to mention the price covers only the price of the tickets, as this event is not for profit. Food will be provided, and we will rely on sponsors to help pay for food. If you have not been to the PGE Park, ask someone who has, as the food is really good, and a night at the ball park is a great time.
Registration: Simply call UAEL at 760-564-2227 to make payment arrangements. As mentioned, this is first come, first serve, so please REGISTER NOW.
Final Comments: The Oregon Region has always maintained a solid reputation for have a strong region. The suites provide an excellent format to both watch the game, but also provides plenty of room to network, and to get caught up with old friends. We are encouraging early registration , as we have the ability to reserve more than one Suite if we a strong turn out, but you will need to ACT NOW!
For additional information: Please contact Gary Parker, Commercial Equipment Lease, at 800-234-1884 or email email@example.com .
June 14, EAEL, New York
New York Meet & Greet,
Tuesday, June 14, at 12:00PM.
Hosted by Robert Goeller, Sierra Credit Corp., at the Garden City Country Club, Garden City, NY.
Lunch and Roundtable Discussion.
Call the EAEL office for registration form, 212 809 1602. Fax 212-809-1650
Equipment Leasing Marketing Specialist
Sales / Sales Representative
CIT Names Brown EVP of CIT Equipment Finance, Diversified Industries
Mike Brown has been named Executive Vice President of CIT Equipment Finance, Diversified Industries. He is responsible for overseeing all sales, credit and service activities for Equipment Finance North America. The organization is headquartered in Tempe, Arizona.
In Mike's current capacity, he oversees dedicated employees throughout the U.S. who are engaged in providing best-in-class financing and leasing services to manufacturers, distributors and end users in manufacturing, packaging, printing, materials handling, energy and inland waterways industries, among others. CIT Equipment Finance has $11 billion in assets under management and is part of CIT Group which has over $53 billion in assets under management.
Mike has more than 26 years experience and earned a Bachelor of Science in Business Administration from Kansas State University.
Physical Fitness Macrolease Sold to Bank Rhode Island
(According to a magazine article, Club Business International, March, 2002, Macrolease was tied into the physical fitness industry, health clubs, Ys, and a wide variety of fitness and health club centers, perhaps also the reason founder Daniel West looks so young in the picture in this article:
PROVIDENCE, RI, – Bancorp Rhode Island, Inc. (NASDAQ: BARI), today announced that its subsidiary, Bank Rhode Island, has acquired the business of Macrolease International Corporation, a full-service, national equipment leasing company based in Plainview, New York. The business will be operated by Macrolease Corporation, a newly-formed, wholly-owned subsidiary of the Bank.
“This acquisition is a solid step in our growth strategy and underscores our commercial orientation,” said Bank Rhode Island President and CEO Merrill W. Sherman. “Macrolease is a great fit from both a business model and organizational perspective. We are increasing the value we offer to our customers and diversifying our revenue streams.”
Macrolease International, founded in 1969 by CEO Daniel W. West, provides lease financing in a variety of markets. Mr. West, president of the new subsidiary, and his staff, will remain based in Plainview, New York.
“We are pleased to be joining the Bank Rhode Island organization,” said Daniel W. West, Macrolease International CEO. “This deal offers us an opportunity to expand our capacity and grow in existing and future lines. Our approach to financing fits well with the credit culture at the Bank.”
“What attracted us to Macrolease International is its solid operating history and the skills and reputation of its principals,” noted Ms. Sherman.
The new subsidiary will seek to build upon the strong success of Macrolease International as a niche player in the equipment lease financing industry, and expand its reach through cross-selling to Bank Rhode Island's customers.
Bancorp Rhode Island, Inc. is the parent company of Bank Rhode Island, a full-service, FDIC-insured financial institution headquartered in Providence, Rhode Island. The Bank operates 14 branches throughout Providence, Kent and Washington Counties. As of March 31, 2004, Bancorp Rhode Island's total assets stood at $1.3 billion and total deposits were $901.1 million.
Contact: Marie T. van Luling
Credit Professionals, CFOs Head for New Orleans to
Columbia, MD—The National Association of Credit Management (NACM), source of the widely-published Credit Manager's Index, a nationally-recognized economic indicator, is holding their annual conference—the 109th Credit Congress—at the Ernest N. Morial Convention Center, June 12-15. NACM's annual conference is the largest gathering of credit professionals anywhere in the world. Credit executives and CFOs, whose job it is to manage financial risk—deciding whether their manufacturing or service companies should extend credit to business customers—gather annually for this premier educational event and information exchange.
"Business credit is an integral part of the American economy," said Robin Schauseil, CAE, President of NACM. "NACM provides members with insight into credit management trends and decision-making, as well as the expertise and tools to support them as they navigate the ever-changing credit landscape." The credit department is often the department that ends up chasing unpaid bills and dealing with corporate bankruptcies that affect their accounts receivable.
"Credit executives must work hand-in-hand with key corporate treasury decision-makers at their businesses in order to successfully manage their company's working capital. With the implementation of Sarbanes-Oxley, there is also more pressure on credit and financial executives to ensure corporate financial reporting meets federal requirements. Additionally, credit managers need to understand the implications the new bankruptcy legislation will have on their dealings with client companies. The educational sessions available at Credit Congress provide NACM members and other attendees with a forum to explore details of these subjects of mutual interest and concern, and provide a resource for expertise on banking, financial reporting and treasury services," she added.
"As well, many people in the credit field today have little experience dealing with the issues that emerge during a slow economy, as we've experienced the last several years," she said. "These professionals want to learn everything they can about how to manage a business in this kind of business environment. They know that NACM is the place to come for this information. Our conference features both domestic and international experts in the field of business credit: people who have the information and solutions to solve the issues that they face—every day."
Attendees will learn how to judge the direction a company or perhaps an entire industry is headed, how to identify a company in a downslide, how to analyze a management team's record in a company turnaround and other criteria needed for working as a credit manager in our present economy, with current legislation—both domestically and globally. The event will feature more than 70 professional development and educational sessions. There are eight tracks attendees may follow: Credit Management, The Legal Environment of Credit, Credit & Technology, Financial Analysis, International Credit, Fraud Prevention, Government Business, and Business & Leadership Skills. Onsite convention registration is available at the Ernest N. Morial Convention Center, June 12-15.
About NACM: The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy. More information is available at www.nacm.org .
Walter Keane New Account Executive at American Leasing Insurance.
SUNDERLAND, MA – American Lease Insurance (ALI) has appointed Walter Keane of Westfield, Massachusetts to the position of account executive. Keane will work closely with ALI President Steve Dinkelaker in developing new business opportunities.
Keane has more than twenty years of experience in sales, most recently handling mortgage originations for Wells Fargo Home Mortgage in West Springfield, Massachusetts. Prior to that, he sold computer software systems and services to national clients in various markets for more than a dozen years. Keane earned a bachelor's degree in Economics from Western New England College.
Comments Dinkelaker, “As ALI grows, it is key to bring on experienced people to ensure that our clients and potential clients receive the level of attention they have come to expect from us. Walter's understanding of financial products and software applications provides him the background to be a valuable resource to ALI. His efforts will help us maintain the standards of service that have powered our success.”
A licensed insurance agent and broker who created, implemented, and managed lease insurance programs for almost all of the major small-ticket leasing companies. Dinkelaker founded ALI in 2000, to deliver a fully automated system of tracking, billing, collections follow-up and fee income to lessors of equipment valued at under $250,000.
ALI is a member of the Equipment Leasing Association, the Eastern Association of Equipment Lessors, the United Association of Equipment Leasing, and the National Association of Equipment Leasing Brokers. ALI has been the corporate sponsor of the Equipment Leasing and Financing Foundation's annual Industry Future Council since 2003.
Aviation Capital Group Announces Acquisition of
NEWPORT BEACH, Calif.---Aviation Capital Group (ACG), a subsidiary of Pacific LifeCorp, announced that it has signed a stock purchase agreement to acquire Seattle-based Boullioun Aviation Services from WestLB AG. Included in the agreement are 102 owned or managed commercial aircraft, 11 Airbus airplanes currently on order, employees, and other assets of Boullioun Aviation Services. Deutsche Bank Securities acted as the financial advisor to ACG. Deutsche Bank, UBS and HSH Nordbank will provide funding for the acquisition. Additional terms of the transaction were not disclosed and it is expected to be finalized within the second quarter.
"This transaction allows ACG the ability to solidify its spot as one of the top 5 aircraft operating lessors in the world," said Stephen Hannahs, Group Managing Director and Co-founder of ACG.
According to Khanh Tran, Executive Vice President & Chief Financial Officer of Pacific LifeCorp, "Pacific LifeCorp's investment in ACG began approximately 10 years ago and it has been our strategy to grow ACG to become one of the leading asset managers in aviation leasing. Through the Boullioun acquisition, we will have achieved this objective."
Newport Beach-based Aviation Capital Group has been providing innovative aircraft financing solutions and aircraft to the world's airline industry for more than 15 years. ACG has also actively provided asset management services to other third-party aircraft and aviation financing parties and is among the leading aircraft operating lessors in the world, with a reach to all corners of the globe. For additional information about ACG, visit the company's Web site at www.aviationcapital.com.
ACG is a subsidiary of Pacific LifeCorp, the parent company of Pacific Life Insurance Company. Founded in 1868, Pacific Life provides life insurance products, individual annuities and mutual funds, and offers a variety of investment products and services to individuals, businesses and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as clients(1) and is a member of the Insurance Marketplace Standards Association (IMSA), whose membership promotes high ethical standards for the sale of individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor's and Moody's, visit the company Web site at www.PacificLife.com.
Donald Leedom Joins Key as Global Treasury Management
CLEVELAND-- KeyBank (NYSE:KEY) announced today that Donald L. Leedom II has joined the Global Treasury Management Group as a senior vice president and team leader. Leedom, who is based in Cleveland, is responsible for coordinating the efforts of KeyBank's Global Treasury Management Northeast Ohio sales team.
Leedom has 20 years of experience in the banking industry, including lending, cash management, retail branch management, sales management and relationship banking. He earned professional designation as a Certified Treasury Professional (CTP) from the Association of Financial Professionals in 1997.
"Coordinating and managing our sales process in Northeast Ohio is vitally important as we work to expand our client base and increase our market coverage, " said Jane O'Connor, senior vice president and national sales manager, KeyBank Global Treasury Management. "Don's experience and industry knowledge will help to support our efforts in delivering a first class client experience every time. "
Most recently, Leedom was vice president and regional sales manager in the Corporate Treasury Management group at U.S. Bank in Cincinnati, where he managed the sales and consulting team serving key markets throughout Ohio, Kentucky and Indiana. Among his areas of responsibility were small business, middle market, large corporate, leasing, international/global services, government banking, corporate trust, private banking, institutional custody, specialized lending/asset-based lending, correspondent banking and dealer services. Previously, Leedom was a vice president and treasury management consultant for U.S. Bank and a vice president and business relationship manager for National City Corporation. He began his career with Mid-America Federal Savings & Loan. Leedom holds a Bachelor of Science degree in finance and a Bachelor of Science degree in banking from Franklin University, Columbus, Ohio.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $90 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
Web site: http://www.key.com/
Economic indicators send mixed signals
New Residential Construction in April, 2005 up overall. Season adjusted rates up 11% in new privately-owned houses. Single housing starts from the previous month were up 6.3% Completions up 7%.
Industrial production fell 0.2% in April after an increase of 0.1 percent in March. The industrial output in the first quarter is still reported to have risen at an annual rate of 3.6%. The rate of capacity utilization for total industry fell .02%.
Producer prices during April for selected commodities decreased from a month earlier.
Yahoo jazzes up instant messaging
“Gimme that Wine”
Michigan to push online wine ban
Wine Divide: Premium 'Wine Block' Brand Builds on Boxed Wine Revolution
Wine ruling sets stage for debate in Kansas
Georgia not one of those states either
Sauvignon Blanc: A Worldly Grape, Home in California
Two Top Event in Today's History
1896- Plessy v. Ferguson: the Supreme Court ruled separate-but-equal facilities constitutional on intrastate railroads. For fifty years, the Plessy v. Ferguson decision upheld the principle of racial segregation. Across the country, laws mandated separate accommodations on buses and trains, and in hotels, theaters, and schools.
1863- A new sport became available to Americans with the introduction of roller skating by James L. Plimpton. Plimpton invented the four-wheel skate, which worked on rubber pads, thus permitting skaters to change direction by shifting their weight to one side or the other without lift the wheels of the skate off the ground. Roller skating became fashionable in New York City and soon spread to other cities. In Newport, R.I., the Roller Skating Association leased the Atlantic House and turned its dinning room and plaza into a skating rink. In Chicago, the Casino could accommodate 3000 spectators and 1000 skaters. In San Francisco, a rink advertised 5000 pairs of skates available for rent.
This Day in American History
1631 -The General Court of the Massachusetts Bay Colony decreed that 'no man shall be admitted to the body politic but such as are members of some of the churches within the limits' of the colony. (Separation of church and state was an unthinkable concept in early American colonialism. In contrast to what is taught in schools, most were not escaping for religious freedoms, but were missionaries with strong prejudices against other religious groups except for their own.)
Stanley Cup Champions This Date