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Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k),
4) Aggressive Commission Structure.
Resumes To:,
Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employers, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.

Wednesday, May 5, 2010

TV Journalist Brian Williams born May 5, 1959, presently NBC News Anchorman and Managing Editor. Williams began his broadcasting career at KOAM-TV in Pittsburg, Kansas in 1981. A year later he moved back to Washington, D.C. and worked at WTTG-TV as general assignment reporter. After several other TV news assignments, he became NBC News chief White House correspondent, as well as host of The News with Brian Williams on CNBC and MSNBC. In December 2004, Williams succeeded Tom Brokaw as anchor of NBC Nightly News. He is a frequent guest on the Today Show. See his other TV show activity in the url below:


Intl. Leasing Industry pays tribute to Mike Fleming
 Archive, May 5, 2006
  Classified Ads---Controller
Sheldon Player Free for Now
 Story Credit Lessors
  Sales makes it Happen---by Bob Teichman, CLP
  Classified ads---Help Wanted
SST Board Debates Compensation
 Prepares for Federal Legislation
  Lion to guard the Garage in New Mexico
   Leasing Industry Recruiters
 Classified ads—Leasing Attorneys
  Sherman Oaks, California---Adopt a Dog
 -by Charlie Lester and Kit Menkin, Sept., 2000
   * * * Sierra Cities Special Report * * *
News Briefs---
 Greek Woes Hit Asian Shares, Euro Down
  Penske orders 600 Swedish Volvo's-Buy American?
   Jobs' million-selling baby: iPad makes good
    Murdoch: iPad subs more profitable than Kindle
 All Hollywood Video stores closing
  You May have Missed--
    Sports Briefs---
     "Gimme that Wine"
   Today's Top Event in History
      This Day in American History
      Baseball Poem
      Daily Puzzle
   Weather, USA or specific area
     Traffic Live----

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


Archive, May 5, 2006

International Leasing Industry pays tribute to Mike Fleming

from Decision Points... Brief, 
a publication of the Alta Group

Michael J. Fleming, CAE, Equipment Leasing Association President 
“Considered the ‘Dean' of all leasing associations”

Over the past 27 years there has been one constant in US leasing who has helped to guide the industry through a period of profound change. Mike Fleming is a quietly spoken man whose voice has been heard loud around the world and his enormous contributions have helped to shape the industry that we see today. His work may have been primarily related to the US, but it is clear that Mike has also been a significant influence in the evolution of the leasing industry globally and over the decades has earned immense international respect.

It will come as no surprise to anybody who knows him that he is held in high esteem in leasing circles around the world and, to mark his forthcoming retirement from the position of ELA president on 1st July 2006, the FLA (the UK equivalent of the ELA) recently organised a dinner in Mike's honour. A black tie function in a private dining room at the famous Ivy restaurant in London, the guest list of 30 comprised a who's who of senior figures from the global leasing community. Among the guests were some of Mike's counterparts, including Marc Baert (Director General of Leaseurope), Martin Hall (Director General of the FLA), Ron Hardaker (Federal Director of the Australian Equipment Lessors Association) and David Powell (President of the Canadian Finance & Leasing Association), together with leading names, both past and present, from the UK leasing industry.

Once seated, Sam Geneen, the current FLA Chairman, welcomed everybody with a short speech. Although equally entertaining, it was somewhat shorter than his address to the annual FLA dinner attended by 1,500 people just two nights earlier. More speeches and tributes followed the dinner, praising Mike's contributions, and the guidance he has given to so many around the world. There were kind words speaking of his wisdom and knowledge of leasing matters and also many comments about the great friendships that had developed over the decades. Paul Larkins, the Chairman of the ELA who was also in attendance, added his personal remarks to the international tributes.

To commemorate this occasion and in recognition of his great love of trains, Mike was presented with an antique British Rail clock, recovered from an old signal box and then lovingly restored. To accompany the clock, Mike also received a book in which this clock was featured.

Pictured at the Ivy dinner commemorating Mike Fleming's retirement are (left to right):

Sam Geneen (Chairman FLA), Derek Soper (Principal The Alta Group and former Chairman FLA), Martin Hall (Director General FLA), Marc Baert (Secretary General, Leaseurope), Mike Fleming (President ELA), Paul Larkins (Chairman ELA) and Alan Leesmith (Principal The Alta Group)




Classified Ads---Controller

Chicago, IL
experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating.
Southeastern, MI
Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate.
Acton, MA
Strong experience in lease accounting, operations, & systems.  
Implemented lease plus, Great Plains, networks.
Excellent financial reporting and analysis skills. Looking for new opportunity.
LinkedIn| Resume

Southern CA
20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant.

For a full listing of all “job wanted” ads, please go to:

Other e-Mail Posting Sites:

Little Rock, Ark.


Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

June 9, 10, until Noon on the 11th
Little Rock, Arkansas
Hosted by Arvest Equipment Finance

$395.00 Paid in Advance for first person from company
$345 with each additional attendee 

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)


Sheldon Player Free for Now

Neither the Denver, Colorado, nor the Chicago, Illinois, FBI offices have any comment regarding Sheldon Player and other officers’ role in Equipment Acquisition Resources, now in bankruptcy. It appears all his real estate has been confiscated and sold, and there is not much left, except for what he may have squirreled away in the woods or a Caribbean bank.

The total separate laws suits appear to be around $70 million, including Minnwest Bank, Highland, Bank, the National Bank, and Comerica $9,999,999,Fifth Third Bank, $10 million, Home Federal Savings Bank, Rochester, Minnesota $3.2 million, Farmers Bank & Capital Trust, $2 million, Red Oak Acquisition, $2 million, and Bank of Dixon County, Ponca, Nebraska. $321,596. They do not include attorney fees or court costs.

Comerica Leasing, a division of Comerica Bank, filed a complaint against US Financial and Mark Franke for $2,000,000 regarding warehouse loans and recourse leases with Equipment Acquisition Resources. Mr. Franke did not return telephone or email contacts. Comerica also has a $9,999,000 suit against Equipment Acquisition Resources.

It appears the main person who placed all the leases, coordinated the efforts, she is also going to skate.

The list of claimants against Equipment Acquisition Resources is long in the bankruptcy proceedings. Real estate owned by the officers and corporations were recovered and auctioned December 1, 2009. Assets, according to a court liquidation analysis:

List of Recovered Assets/Liquidated upon liquidation:

List of all claimants to date in the bankruptcy:

On May 2, 2007 Leasing News released its alert regarding Mr. Player and Equipment Acquisition Resources. Evidently many of the claimants are not readers of Leasing News or did a Google search. We are #1 and #2 on Google; #3 and #4 Yahoo; (Sheldon Souray is #1 and #2); Copernic: #1 and #2; Bing not on the first page, and #1 is: 2007 Bottle Water Venture by Player (

Again, a Google or Yahoo user would have found the Leasing News May 2, 2007 alert as well as subsequent articles.

Equipment Acquisition Resources -Busted!


Story Credit Lessors

These companies specialize in "C" and "D" credits, often new businesses, or businesses where the principal(s) have Beacon score around 600 or previous difficulties; meaning to become comfortable with the credit and financial situation you need to learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. Many of these companies may also be a "B," but appear otherwise without the "story" to understand the full financial picture.

Also listed below the dollar amounts are companies that who are known for accepting "subprime leasing."

(To qualify for this list, the company must be a funder and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. We reserve the right to not list a company who does not meet these qualifications.)

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged.

Business Reports: Companies listed may make any netiquette comment about their company or reports or other information in the footnote section of their listing. Leasing News recommends readers also view the footnote as well as the section itself or searching reports on the business.

It also should be noted that if a BBB report listing is found by a reader, as there may not have been one when this was last up-dated, please send the link to so Leasing News may up-date this section.

(for Broker/Lessors List "A," please click here, for list "B," pleae click here,
for Captive Lessor list, please click here,

for Funder List "A," please click here, for Funder List "B," who do not specialize in
“Story Credits
please click here,

for “Super Broker/Lessor,” who primarily place leases, click here )

Leasing Associations: All non-profit leasing associations are abbreviated. To see the full name and learn more about the association, please click here.

BBB - Better Business Report | CBB - Leasing News Complaint Bulletin Board
| CNI - Current News Information

( To apply to be listed, please fill in this form and fax to 408.374.3843 or you
may e-mail to:
Story Credit Form

Alphabetical list - click on company name to view more details
ABCO Leasing, Inc.
Advantage Funding
Agility Solutions
Allegiant Partners Incorporated
American Leasefund, Inc.
Bankers Capital
Barrett Capital Corporation
Black Rock Capital
Blackstone Capital Partners
Boston Financial & Equity
Calfund, LLC
Cobra Capital LLC
Financial Pacific Leasing
Forum Financial Services, Inc.
Gonor Funding
National Machine Tool Financial
Pawnee Leasing Corporation
Standard Professional Services, LLC
TEAM Funding Solutions

In Business Since
Leasing Association
Business Reports

Financial Pacific Leasing
Terey Jennings CLP,

Pawnee Leasing Corporation
Dana Freeman

$1,000 - $30,000

Does Subprime Leases

Advantage Funding
Edward P. Kaye

Vehicles Only

$10,000 - $1,000,000

National Machine Tool Financial Corporation
Chris Chiappetta, Robert Lang, Susan Adamatis
800-669-7527 (CC)

Boston Financial & Equity Corporation
Debbie Monosson

$100,000 to $1,500,000

Does Subprime Leases

Calfund, LLC
Harry Saghian
Western States


Does Subprime Leases

Allegiant Partners Incorporated
Scott Enbom
(415) 257-4200, x207
Nationwide, including Alaska & Hawaii
Blackstone Capital Partners, L.P.
Frank Freer
Phone: 877.966.3279
Fax: 949.250.8798
(except LA, AR and AK)

$50,000 to $2,000,000

Does Subprime Leases

Black Rock Capital
George Booth
US Canada (F)

$50,000 to $3MM

$250,000 average transaction

Forum Financial Services, Inc.
Tim O'Connor
972-690-9444 ext. 225
275 West Campbell Road
Suite 320
Richardson, Texas 75080
Fax: 972-690-9464

$50,000 to $1.0 million. Our average size transaction is $250,000.
Preferred Range
$100,000 to $500,000

Does Subprime Leases


TEAM Funding Solutions
Christopher Fielder, VP
888-457-6700 ext. 106 / 512-258-6700 ext 106
512.692.0500 fax

All 50 States


Does Subprime Leases

ABCO Leasing, Inc.
Brad Christensen
Most States

$50,000 - $450,000

American Leasefund, Inc.
Tom Davis
800.644.1182 - PH
503.244.0845 - FX
Idaho, Montana, Oregon, Washington

$3,500 - $50,000

Does Subprime Leases

Bankers Capital
Larry LaChance - President
Nationwide - 50 States
$25,000 +
Cobra Capital LLC
Dale Kluga, President

$50,000 to $1MM

$250,000 average transaction

Agility Solutions
Hal Hayden
(928) 541-0771

$50,000 - $1,000,000
(Master Lease)

Does Subprime Leases

Barrett Capital Corporation
Barry Korn
Cell: 914.954.1900

United States

Vehicles Only

$10,000 minimum

Standard Professional Services, LLC
Mr. Raphael Lavin, CLP
Nationwide & some offshore

$10,000 - 250,000

($25,000 - $150,000 desired)

Gonor Funding
Norman J. Gonor
Jason Gonor
818.402.6999 (Y)

$10,000 to $100,000 with an average of $25,000 - $35,000

Does Subprime Leases

In Business Since
Leasing Association
Business Reports

Business Reports: Companies listed may make any netiquette comment about their company or reports or other information in the footnote section of their listing. Leasing News recommends readers also view the footnote as well as the section itself or searching reports on the business.

It also should be noted that if a BBB report listing is found by a reader, as there may not have been one when this was last up-dated, please send the link to so Leasing News may up-date this section.

BBB - Better Business Report | CBB - Leasing News Complaint Bulletin Board
| CNI - Current News Information


(A) Pawnee Leasing Corporation; Some times we go higher than $30,000, but our marketplace is from $1,000 to $30,000. Broker Qualify - One year time in business

(B) * Allegiant Partners has expanded their maximum transaction size from $250,000 to $500,000 for the 5 western states of California, Oregon, Washington, Nevada and Arizona.
In addition to increasing the transaction size Allegiant is offering more competitve rates for these A- and B+ transactions.
Broker Qualify - For Broker qualification please click here.

(D) ABCO Leasing, Inc. in Seattle area has been operating since 1974 serving the broker community. We required full financial disclosure on every transaction. We do story transactions, but do not like to refer to them as "C" credits. We think of them as "A" type credits that have not been discovered yet. Broker Qualify contact: Brad Christensen, Broker Relations Manager,971/204-0236

(E) Black Rock Capital comment: We book anywhere between $15 to 20 million per year. We do no "app only" business and require a full financial package for each transaction. Our average size transaction is approximately $250k and, although, we concentrate in printing, packaging (steel rule die industry) and road construction equipment we do not rule out anything that makes sense. More information can be found at Broker Qualify - Please Call

(G) Cobra Capital, LLC. Comments: Our registered trademark "Making impossible possible" is our central marketing tagline for both strong and weak credits. I have developed a 10 year history, (from Cobra and my prior company GALCO), with specialty, non-conforming transactions (story credits) and have a solid reputation for candidly responding to our originators and lessees and working diligently to mitigate deal risk rather than making excuses to turn deals down. Our originators prefer our underwriting approach to non-conforming transactions since unlike most non-conforming funders, we prefer to mitigate risk versus jacking our return. Both Originators and Lessee's prefer our candid approach as we are also frequently asked to advise lessee's and lessors on the best way to structure their bank loans and raise capital due to our 25+ year banking and accounting backgrounds as my partner and I are both former bankers and CPA's.

(H) Barrett Capital Corporatio: Broker Qualify - Please Call

(I) Standard Professional Services. LLC is a non-cookie cutter funder who does not credit score.

(J) Boston Financial & Equity Corporation, most of our leases are venture capital backed startups and turnarounds. We require full financial disclosures, CPA and internal statements, no tax returns. We do not required additional collateral, no PG's or RE needed. Do not send deals with large tax liens, especially if they are payroll taxes. Broker Qualify - A deal in hand and a full package.

(N) Blackstone Capital Partners, L.P. lends up to 50% of verified auction value for working capital and/or equipment financing requests (we of course include equipment to be acquired in our valuation). Using this formula, allows Blackstone to approve deals on the assets rather than the credit or cash flow that other lenders desire. Also being an asset lender, we are looking for hard assets i.e. yellow iron, machine tool, manufacturing lines, textile etc... We do not care for soft assets such as computers, furniture, restaurant, or "white elephants" (equipment that is too specific to the clients needs and was specially built for them - there would be no resell available and our liquidity if repossessed would be in jeopardy). If you have any questions, please feel free to call, we will do our best to help or seek the answer for you. Broker Qualify - Please Call

(O) Bankers Capital " We will do ANY Type of Equipment, in ANY industry, in ANY state.  We especially like 6-figure transactions with full financial packages no matter how good or bad they look.  We look to structure the story C&D credits with any kind of additional collateral that makes sense.  It could be with 2nd or 3rd mortgages on residential or commercial Real Estate, additional equipment, cash value life insurance, security deposits, vendor agreements.  We look for any way to make the deal work instead of looking for any way to decline the deal." Broker Qualify - Please contact Larry LaChance

(P) Financial Pacific Leasing supports a nationwide network of Brokers and Lessors. We specialize in "B" and "C" credits for established companies as well as companies under two years in business. Broker Qualify - Please Call or see "Prospective Broker" section on website

(Q) American Leasefund, Inc. funds small hard to do transactions under $50,000.00. Most of the transactions are "app only". We look for additional collateral or larger first payments to help the weaker credits. We maintain and service our own portfolio. All of our lessee billings are done via ACH. Broker Qualify - Please Call

(S) We at Summit Leasing consider ourselves to be primarily "B" credit lenders, working almost exclusively through brokers. Broker Qualify - Contact us

(T) TechLease - due to previous experiences, TechLease is vertically focused on three primary sectors: Semiconductor, Media and Aerospace. We fund all deals and hold paper an all equipment under $250,000. Deals over $150,000 we typically want to meet the Lessee face-to-face. We prefer business in California, however we will fund nationwide. Broker Qualify - Please Call


(V) Agility Solutions; we fund all equipment used by Wireless Internet Service Providers.
Click here to see Leasing News story.
Broker Qualify - Please Call

(W) Forum Financial Services, Inc., prefer venture capital backed start-ups and middle market to large corporate turnaround companies including companies in bankruptcy and post bankruptcy. Our absolute minimum sales for an established business with financial problems are $10.0 million. (this does not include venture capital backed start-ups). Broker Qualify - Please visit our website at or call 972-690-9444 ext. 225

(X) Advantage Funding - While we also consider quality equipment leasing as a funder, in the title vehicle leasing business, we consider all types of situations and credits and speciality vehicles for commercial use. We have a history of understanding all types of title vehicle leasing. Broker Qualify - Please Call

(Y) Gonor Funding specializes in hard to fund leases with D credit. Collateral based with good rates and commission program. Broker Qualify - Please Call

(Z) TEAM Funding Solutions is a structured lender for brand new businesses or for older companies with previous credit problems. We do not credit score. The secret to producing an approval for C-Credits starts with interviewing your customer." Broker Qualify - Click here for Broker Enrollment Form.

(AA) Calfund, LLC finances 18 wheelers and some trailers for owner operators with substandard credit.


(CC)  Specializing in Machine Tools only for transactions up to $750k. National has been in the Machine Tool Finance business since 1986 and has a leasing proficient staff to accommodate the most challenging transaction.  F ull financial disclosure required.   We can provide structured financing for the story marginal credits.   May require personal guarantees and/or down payments depending on the credit.   Any size business accepted.  For more information please contact Chris Chiappetta or Robert Lang at 800-669-7527. 

Or fax us your story transaction to 888-901-7789.


Sales Make it Happen


by Bob Teichman, CLP

Equipment leasing isn't the oldest profession in the world, but it comes close. There is evidence that agricultural leases were written over 4,000 years ago. Leases are no longer written on clay tablets, but types of assets leased then are leased today. We still lease agricultural equipment, we still lease land, we still lease cattle.

But leasing as we know it only really dates from the mid-twentieth century. Then a lessor could be a generalist, serving to its customers whatever kind of equipment they wanted using a limited palette of leases. Credit decisions were either heavily oriented towards collateral, or required intensive due diligence. Industry specialists were mainly affiliated with manufacturers.

Today the equipment leasing world is far more complex. Small ticket, medium ticket, large ticket, application-only, full disclosure, domestic, cross-border; the variations alone could and do fill entire volumes.

So how does a small practitioner decide where to spend his or her valuable selling time? Unlike large lessors, who cover all markets through specialized units, the small lessor or broker must establish limits and make careful choices.

Many successful lessors choose to specialize by industry. They learn all they can about their chosen industry, write articles for their industry's newsletters, join their industry's associations and exhibit at their industry's trade shows. They become part of the industry, are well-known to vendors and manufacturers, and, as a result, are the first lessors to come to mind when the subject of financing comes up.

Often, lessors work with industries with which they worked before they entered the leasing business. But how does a lessor with no equipment background choose an industry? The process may start with a preferred vendor, or with an acquaintance, or with a personal interest in a process or device. It doesn't matter if the starting point is small so long as the lessor maintains direction and a continued interest in the industry.

As with all industries, the equipment leasing business has peaks and valleys; we are still recovering from the most recent downturn. What happens to the lessor if his or her preferred industry goes into a decline? When the economy turned bad a few years ago I received a call from a lessor who specialized in an industry which few lenders wanted to fund. He believed he was at a dead end, since he didn't know any other business but that of his specialty. I suggested that he help his vendors obtain financing for their own needs and that he expand his vendor relationships by asking his industry vendors to refer companies who supplied equipment to them. This strategy worked.

Specializing in an industry doesn't mean turning away entirely from related opportunities. But it does require focus and dedication, and can pay long term dividends, both personal and economic.

Bob Teichman, CLP
Teichman Financial Training
"Education & training for equipment leasing and financing personnel"



Leasing Industry Help Wanted


Interviewing Leasing Professionals With Proven Track Record and Established Book of Business. Envision Provides: 1) Established Funding Sources, 2) Fun Working Environment, 3) Full Benefits (Health Insurance, 401k), 4) Aggressive Commission Structure.
Resumes To:, Contact: Jeff Edwards (949) 225-1712

Envision Capital Group is dedicated to providing the best in class products and service to our employers, customers, vendors and partners in the small and middle ticket commercial finance industry. With over 50 years of combined experience we have the knowledge, skills, abilities and relationships to help you reach your goals.

Seeking originators with 5+ years small ticket and/or
middle market experience and with established
customer and vendor relationships. Remote
office and on site positions are available.

Please send resumes to:
Attn: Mike Lockwood or Russ Runnalls CLP

Please see our Job Wanted section for possible new employees.


SST Board Debates Compensation, Prepares for Federal Legislation
By Daniel T. Schibley © 2010, CCH Incorporated

(The following summary of the Streamlined Sales Tax Project meeting in Washington, DC is being distributed by the Equipment Leasing & Finance Association (ELFA) with the permission of CCH and its author/editor Dan Schibley)

The Streamlined Sales Tax (SST) Governing Board gave tentative approval to a set of standards for reasonable vendor compensation during meetings, which included the board’s State and Local Advisory Council (SLAC), on April 28-30, 2010, in Washington, D.C. The board referred the standards to other state organizations and the business community for their consideration and input. The standards were prepared in anticipation of a requirement in federal legislation that a state provides such compensation in return for authority mandating that remote sellers collect the state’s sales and use tax. The board was told that the federal authorizing legislation will be introduced in the current session of Congress, after a long delay, within the following two weeks.

The federal legislation also is expected to require that states apply many of the provisions in the SST Agreement to all transaction-based taxes on communications services. After hearing comments from representatives of industry and local governments on proposals to achieve that result, the board voted to refer these proposals to a task force made up of various stakeholders.

In other significant action, the board affirmed a finding that Nevada is not in compliance with the Agreement, it amended the Agreement to provide a definition of “bottled water” that will allow states to tax sales of water, and it approved two rules providing guidelines for sourcing sales of services.

Vendor Compensation Proposal

The compensation standards given tentative approval by the board would apply to all sellers, both in-state and remote. Trigger provisions determine when a state would have to begin paying compensation in accordance with these standards. A state could choose not to offer this compensation and remain an SST member state, but it would not receive federal collection authority. An exception from the collection requirement would be provided to small remote sellers, initially defined as a seller with less than $100,000 in gross national remote sales in the preceding 12 months. Once finally adopted as an amendment to the Agreement by the board, the standards would be automatically repealed after 24 months if federal collection authority had not been obtained.

A state would have to establish three tiers of compensation rates that would favor smaller sellers, whose compliance costs are expected to be higher. A state that does not require sellers to report tax by local jurisdiction would have to establish rates that provide total compensation not less than 0.9% of tax collections. A state that does require reporting by local jurisdictions would provide total compensation not less than 1% of tax collections. Additional compensation would have to be provided by a state with a second state rate on groceries or drugs or with clothing thresholds. Specified compensation caps would be allowed. No compensation would have to be provided to a seller using a certified service provider being paid for by the state.

Board president Jerry Johnson, Oklahoma Tax Commission, said that preliminary calculations indicate that a state required to provide total compensation of 1% of tax collections would pay small sellers roughly 2%-2.5% of taxes remitted and large sellers roughly 0.5%. Several legislators expressed concern about the level of compensation mandated. North Dakota state Sen. Dwight Cook said he thinks the compensation is too high and too much will go to the largest retailers. He added that he does not think 0.1% adequately reflects the additional cost of compliance in states with local taxes. Indiana State Sen. Luke Kenley argued that the compensation provided is twice what is realistic and that the board needs “to tone this down substantially.” He said the compensation levels are a barrier to entry for large nonmember states such as California and New York and that these states may choose instead to pursue litigation to overturn Quill, an event which he described as “only a matter of time.” Washington State Rep. Ross Hunter added that his state is “nervous” about the level of compensation, which he said may require it to pay out one-third of additional revenue received. In response, several business representatives stated that the mandated levels of compensation would not come close to fully compensating most sellers, especially smaller ones, for the full cost of collection.

Oklahoma’s Johnson moved to forward the compensation standards and related items to the National Governors Association, the National Conference of State Legislatures, and the Business Advisory Council (BAC) for input. With all full and associate member states voting, Johnson’s motion passed with support from 17 states. Four states voted against forwarding the proposed standards: Indiana, North Carolina, North Dakota and Wyoming. Two states abstained: Iowa and New Jersey. Johnson then scheduled a continuation of the meeting to June 3, when the board plans to meet by conference call to review the input received and consider further action on the compensation standards.

Taxes on Communications Services

The SST Executive Committee has been debating a proposed amendment to the Agreement that would extend several simplification provisions, including state-level administration, to taxes on telecommunications services and video programming services, including cable services. LK:NON: CYTXDS 20090625-S.1 The proposal would cover any tax, charge, or fee levied by a taxing jurisdiction as a fixed charge for each customer or measured by gross amounts charged to customers for communications services, regardless of on whom it is imposed or how it is denominated.

The board heard from representatives of each of what Oklahoma’s Johnson described as the four main constituencies: telecommunications providers, cable providers, satellite providers, and local governments. Deborah Bierbaum, AT&T, provided a brief history of efforts to reform telecommunications taxes. Representatives of satellite providers objected to the proposal’s characterization of cable franchise fees as a “tax” that must be considered in determining if a state’s rates achieve tax parity for similar products. They added that including franchise fees is “bad politics” because it runs afoul of pending federal legislation (H.R. 1019) sponsored by Rep. John Conyers, D-Mich., that would prohibit a state from imposing a higher tax rate on one means of providing multichannel video service than it imposes on another. A cable representative disagreed and argued that the proposal properly allows a state to have a second state-level rate in order to equalize treatment among video providers. Local government representatives held up telecommunications tax reform in Virginia as a model for the SST member states.

Johnson said that he will appoint a task force with representatives of each of the stakeholders to continue work on the proposal.

Bottled Water” Amendment

Over industry objections, the board approved an amendment to the Agreement adding a definition of “bottled water.” The definition was requested by Washington, which just enacted a tax, effective June 1, on sales of the product. Washington does not tax most sales of food and needed the definition of “bottled water” as a toggle in order to stay in conformity with the Agreement.

Sourcing Sales of Services

The board approved the first two rules to be completed by a work group that is charged with defining where a service is received for purposes of the general sourcing rules in the Agreement. The rules approved are a general rule and a rule for services performed on tangible personal property (e.g., repairs). Generally, the latter will be sourced to the location at which the property is returned to the purchaser. The work group is currently working on a rule for services with respect to tangible personal property (e.g., testing or monitoring). The BAC unsuccessfully sought to have the board wait to vote on all three of these rules at the same time, together with an amendment the BAC is developing to avoid duplicative taxation. The work group will eventually proceed to rules on services related to real property, services related to products delivered electronically, personal services, and amusements.

Nevada Compliance

The board found Nevada to be out of compliance with the Agreement because the state cannot accept electronic payments from taxpayers by ACH credit. The board previously had “accepted” a report from its Issues Resolution Committee recommending this action. The question of potential sanctions was referred to the Executive Committee.

State-Level Administration

The board approved amendments to the Agreement’s existing requirement for state-level administration of taxes to expand the provision to purchasers, clarify that it applies to in-state sellers as well as remote sellers, and authorize audits by third parties on behalf of the state-level authority. The latter provision led to a debate that, at times, became heated as taxpayer representatives argued unsuccessfully for an explicit prohibition on the use of contract auditors paid on a contingent fee basis. Various state and local government representatives, while expressing misgivings about the use of contingent fee auditors, responded that the Agreement is not the place to dictate tax policy. Bruce Johnson, Utah State Tax Commission, rejected the notion that the board’s failure to prohibit contingent fee audits equals endorsement of such audits.

Employee Points Programs

The SLAC continued to struggle with an interpretation request filed by Loren Chumley, KPMG, asking for clarification on how to treat employee points under the Agreement’s “sales price” definition. Chumley asked that the value of points, awarded employees as sales incentives and redeemable for merchandise at a reduced price, be treated as a discount and excluded from the sales price of the merchandise. The Compliance Review and Interpretations Committee (CRIC) agreed, LK:NON: CYTXDS 20090814-S.1 but the CRIC decision subsequently failed to receive the requisite three-fourths vote for approval by the board. In response, the matter was referred to the SLAC for further evaluation.

The SLAC’s vice-chair, Sherry Harrell Hathaway, presented three options: the points are not consideration, any cash equivalent of the points is consideration, or the points are consideration. The SLAC states expressing an opinion divided almost evenly among the three options. Utah’s Johnson suggested that, given the apparent inability to reach a consensus, Chumley may wish to withdraw her request to avoid an ultimate resolution defaulting to the taxability of the points.

Other Developments

The board approved a CRIC interpretation that leases and rentals of all types, including those that do not involve recurring periodic payments, do not qualify to be sourced on an origin basis under the alternative sourcing provisions in the SST Agreement. However, the board also referred to the SLAC for evaluation a proposed amendment to the Agreement to reverse this result and allow short-term rentals to be sourced on an origin basis.

The board gave final approval to an amendment to the Agreement regarding the evidence a seller must provide in an audit situation to substantiate noncollection of tax in a transaction in which the seller failed to obtain an exemption certificate.

During the last day of the meetings, Oklahoma’s Johnson announced the passage of SST conformity legislation by the Georgia Legislature, which the governor is expected to sign. A successful petition would make Georgia the 24th SST member state. Johnson added that Oklahoma is considering renewing its amnesty offer for sellers that register under the Agreement and may coordinate the applicable time periods with the amnesty that Georgia will be required to offer as a condition of membership. He said that Oklahoma also is considering offering “bonus compensation” to new volunteer sellers. Johnson asked other member states to consider doing likewise.

As mentioned, the board will meet by conference call on June 3 for a possible vote on the compensation standards. The next in-person meeting is scheduled for October 5-7, 2010, in Indianapolis.

Streamlined Sales Tax Governing Board and State and Local Advisory Council Meetings, Washington, D.C., April 28-30, 2010

Dennis Brown
Vice President State Government Relations
Equipment Leasing and Finance Association
1825 K Street NW, Suite 900
Washington, DC 20006
Phone: (202) 238-3411
Fax: (202) 238-3401


This is a true story of a Garage Owner in the Southwest. ( New Mexico )

He was sick and tired of thugs breaking into his garage shop to steal tools etc. So he came up with this idea.

He put the word out that he had a new Mexican Lion that would attack anyone that would breakin or climb his fence.

Would be thieves saw the "Lion" from a distance and fled the scene. 

It was just a partially shaved Golden Retriever !!!!!!


Leasing Industry Recruiters

These companies have experience in the finance and leasing industry

Please fax our request form back to 408.317-2066 or you
may e-mail to: .

Second Column: YCS - Year Company Started | YELB - Years in equipment Leasing Business

City, State
Leasing Association
(see above for meaning)
Geographic Area

Executive Solutions for Leasing & Finance, Inc.
1141 Minisink Way Westfield, NJ 07090
Teri Gerson , President 908.654.1550 (f) 908.847.0377



Search firm specializing in leasing industry. Services include retained and contingent search, strategic consultation, compensation analysis, sales & management training, & customizable consulting products.

Financial Pro Solutions
Hal T. Horowitz
22845 Ventura Blvd.,
Suite 124
Woodland Hills, CA 91364
Office:  (818) 347-FINA
Fax: 818-597-3201
Cell:  (818) 730-0645




Retained search firm seeking financial professionals for growth-oriented and challenging opportunities in commercial banking, equipment leasing, asset based lending. Also works with firms seeking V- and C-level financial executives with accounting, financial analysis or treasury disciplines.

Professional Profiles,
Specialists in Executive Search, Inc.

Mary Beth Norton
708-403-9229 Voice
708-403-8854 Fax



We are, by choice, a small shop. We take a very personal approach with all our candidates and hiring managers.
We treat them all
(even those we are unable to help)
with respect and professionalism. 



Client Looking For A Leasing Attorney

Birmingham, Alabama
The lawyers of Marks & Weinberg, P.C. have over 30 years experience in dealing with virtually every type of equipment financing and are recognized throughout the industry for prompt, practical solutions and exemplary service. They offer cost-conscious, effective lease enforcement and good counsel.
California, National: city: Riverside
Ellen Stern - get results, reasonable pricing; numerous industry contacts, nearly 30 yrs SoCal, 20 yrs equip.: CFL license specialist, documentation, work-outs, litigated collections, recoveries; deal-maker.

Kenneth C. Greene
California & Nevada
Hamrick & Evans, LLP, Universal City , LA; San Francisco Bay
Area, No.Calif. & Nevada. Call for free consultation (828)763-5292 or (415) 806-2254,
Connecticut, Southern New England:
EVANS, FELDMAN & BOYER, LLC Collections, litigation, documentation, portfolio sales and financing, bankruptcy. We represent many of the national and local leasing companies doing business in this state. Past chairman EAEL legal committee. Competitive rates.
Los Angeles, Southern CA
Seasoned attorney representing secured creditors in auto finance and truck/equipment lease industry.  Bankruptcy and State Court litigation.   Vincent V. Frounjian (818) 990-0605 or email:

Encino, California: Statewide “ELFA”
Hemar, Rousso & Heald, LLP 30 yr excellent reputation Lessor representation commercial litigation, debt collection, and bankruptcy.
Call Stephen E. Jenkins Esq (818) 501-3800

Los Angeles, Statewide: CA.     "ELFA" Aggressive creditors rights law firm specializing in equipment leasing handling collection matters on a contingency, fixed fee or hourly cbasis.

Los Angeles -statewide: CA      "ELFA"
Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email:   

Long Beach, CA
Wagner & Zielinski,  successfully representing lessees/ lessors.  Not a member of any leasing organization, therefore not beholden to special interests.  Richard Wagner
(562) 216-2952

Long Beach CA.
Paul Bent -- 30 years experience in all forms of equipment leasing, secured lending, and asset based transactions, from analysis and deal structuring to contract negotiations to closing to private dispute resolution. (562) 426-1000

Law Firm - Service, Dallas, TX. "ELFA"
Mayer regularly practices in leasing, secured financing, project development and finance and corporate finance.

National: Coston & Rademacher: Business attorneys serving the lease-finance industry since 1980. Transactional, documentation, corporate/finance, workouts, litigation, bankruptcy, portfolio management. Chicago-based national practice. Jim Coston, CLP (Members: ELFA, NEFA).

St. Louis County , MO. - statewide:
Schultz & Associates LLP., collections, negotiation, and litigation. Also register and pursue recovery on foreign judgments. Contingency and reasonable hourly rates.
Ronald J. Eisenberg, Esq. (636) 537-4645 x108
NJ,De,Pa: Specializing in leased equipment/secured transactions. Collections, replevins/workouts reasonable rates. Sergio Scuteri/Capehart & Scratchard, PA /
Thousand Oaks, California:
Statewide coverage Spiwak & Iezza, LLP 20+ years experience,Representing Lessors banks in both State/ Federal Courts/ all aspects of commercial leasing litigation.
Nick Iezza 805-777-1175

Westport, CT: We represent finance companies, banks, lessors, etc., in replevins/seizures, collections and bankruptcy matters in Connecticut and New York. Flat fee, contingency and hourly rates.


Sherman Oaks, California---Adopt-a-Dog

Terrier (Unknown Type, Small) Mix
Sherman Oaks, CA
Size: Small 12 lbs (11 kg) or less
Color: Black - With Tan, Yellow Or Fawn
Sex: Male

Age: Young
Freddy is: already neutered
good with kids
good with dogs
good with cats

Freddy's story.."Sweet 12lbs Male terrier- Loves dogs, cats, people- great on walks-Loves to play -would make a great home for anyone!"

Contact this rescue group to adopt Freddy ...Rescue Group: Strangest Angels Animal Rescue
Contact: Elle Wittelsbach
Phone: Please email this shelter below!
(They don't list their phone number here)
- Let 'em know you saw "Freddy" on!

Adopt-a-Pet by Leasing Co. State/City

Adopt a Pet


by Charlie Lester and Kit Menkin, September, 2000
* * * Sierra Cities Special Report * * *

(The by-line was because Kit Menkin added two paragraphs at the end, but the fact is Charlie Lester wrote everything above the last two paragraphs reproduced here, as it was his direct experience and first hand knowledge----as he was there. Editor)

Charlie Lester, Leasing News Emeritus Advisor

On the block with a hoped sale date before October 1, 2000, this company joined Leasing News "list" due to its Second Quarter loss and the many rumors from reliable sources that the company is about to be sold. Chairman Tom Depping has told his employees there will be an announcement before September 30th.

Reportedly the man who originated the First Sierra concept was Bob Quinn, not Tom Depping. Bob Quinn approached Tom Depping in 1993 after Denrich was purchased by ATT Capital in December, 1992. Bob did not feel ATT was dedicated to their Private Label Program so he approached Tom Depping as an old friend and business acquaintance about forming a new company to do nothing but Private Label.

From that meeting in 1993 to April 1994, Tom Depping sold some movers and shakers in Houston (check the Board of Directors for names) to raise the capital to start First Sierra. When Bob Quinn left ATT in May, 1994, he and Tom along with Fred Van Etten, Pete Smith and Sandy Ho actually began the operations at First Sierra.

" (NASDAQ:BTOB) has harnessed the power of the Internet to create a totally new way for small business owners to get the funding they need. The leader in online banking and financing, we've automated the funding process to offer quick and convenient access to loans, leases, and a full range of comprehensive banking services. Since 1994, has funded over $2.5 billion in small business loans."

The above is

The company was basically started by Thomas J. Depping. From 1991 to May 1994, Mr. Depping served as President of SunAmerica Financial Resources, the equipment leasing and financial division of SunAmerica, Inc. Sandy B. Ho, Executive Vice-President and Chief Financial Officer has been with the company since 1995. David L. Pederson joined in 1998 and is Executive Vice-President and Chief Financial Officer. The company has had many other vice-presidents, according to listings in past United Association of Equipment Leasing Membership Directories.

"Since inception, the Company's underwriting, customer service and collection staff had been located in its Jupiter, Florida office. In order to consolidate its operations and maximize administrative efficiencies, the Company relocated its operations center from Jupiter, Florida to its headquarters in Houston, Texas. It basically had a "private label" and "wholesale/retail" approach to equipment leasing." This information is from 8/13/99 security filings.

The company in 1999 was First Sierra Financial, Inc., Houston, Texas and on January 26, 2000 "merged" and changed its name to, Inc., a Delaware Corporation with corporate address in Houston, Texas.

HOUSTON--(BUSINESS WIRE)--July 3, Inc. (Nasdaq:BTOB), an innovator of technology solutions for online B2B financing, today announced that it has withdrawn its recently approved application to become a bank holding company. In April, the Company announced that its application was approved by the board of governors of the Federal Reserve.

Thomas Depping, president and CEO, said, "Although our application with the Federal Reserve was approved in April, we have decided not to implement the banking strategy at this time as we are in the process of potentially splitting our technology and finance operations." On April 24, announced that it retained Donaldson, Lufkin & Jenrette to advise on the potential division of the Company's technology and finance operations.

SierraCities reports $7.7 million loss for second quarter

"The Company reported a net loss of $7.7 million for the second quarter, including non-recurring pre-tax charges of $6.9 million. On an operating basis, the Company reported a loss of $3.4 million compared to net income of $252,000 in the second quarter of 1999. Second quarter operating results were largely impacted by reduced gains from asset sales resulting from a poor secondary asset market during the quarter. The asset sales completed during the quarter resulted in gains of $957,000 compared to $3.5 million in the second quarter of 1999.

"The Company incurred a one-time $6.0 million pre-tax charge in the second quarter related to the restructuring or elimination of underperforming operations." Sierra Cities Press Release

First Sierra changed its name this year to migrate from purchasing smaller leasing companies with the small leasing company methods and sales forces, from utilizing lease brokers then to inside salesmen to an internet aimed company, securizing leases and "selling off" or "brokering" leases to other funders in a lesser extent. The company changed its major direction in the last twelve months to become a "," if you will accept this idiom.

Sales were originally generated with the purchase of the smaller leasing company, who joined the parent with funds available often a lower rate and supposedly less rules and regulations than the small leasing companies funding sources. This type of sales generation series appeared to generate more sales, but in affect, these smaller leasing companies had discounted, brokered, or borrowed for most of their business and the asset was the management and sales niche of the smaller leasing company. The concept was for sales from the new company generated sales for the larger company and as long as new companies were being added, sales appeared to grow. In effect, many of the smaller companies’ sales diminished with the original principal leaving or the entrepreneurial spirit changing in the operation of gathering business.

As lease matured, or defaulted, or brought up heavy servicing problems, the concept begins to collapse.

General Interlease Corporation (GIC) 6/96 (A Florida, Colonial Pacific Pegasus Lease Dealer)
Corporate Leasing Group 9/96
Lease Pro, Inc. 2/97
Heritage Credit Services, Inc. 5/97
Universal Fleet Leasing 5/97
Public Funding Corporation 6/97
Northcoast Capital Leasing Company 9/97
Financial Management Services dba Cascade Leasing 9/97
Heritage Credit Services of Oregon 11/97
All American Financial Services 11/97
Independent Capital Corporation (ICC) 3/98
Integrated Lease Management (ILM) 3/98
OMNI Leasing 4/98
Vendor Leasing Services 4/98
TFS, Inc. dba The Money Source 6/98
21st Century 6/98 Republic Group, Inc. (Anaheim) 7/98
Suffolk Street Group (England) 7/98
Brooker Montague Leasing Limited 8/98
Titan Finance Limited 10/98
Fifth Third Leasing 6/99
Capital Alliance Financial 12/99

Bruce Kropshot arranged the first three acquisitions as the investment banker. He would make no comment for the record or off the record.

Many of the principals of these companies are now either retired or started their business financial companies such as Charlie Lester, Don Zaretsky, Brent Hall (son of Oren Hall).

Some believe the company changed with the acquisition of Republic Group, Anaheim, California (the founders created CapitalWerks, and both now await sentencing in Operation Lease Fleece. Editor)

All did not want to speak on the record for the fear of being sued for their opinion by Sierra Cities. If there is a sale, they may comment afterwards. Several did not take stock with the sale, but others did, so they would prefer to wait until the announcement.

Five possibilities:

1. Sell the finance division.
2. Sell the technology division.
3. Sell both the finance and technology divisions.
4. Enter into a joint venture with a stronger company that would relieve the need for securitization.
5. Keep doing business as usual.

These comments are from many of them and others in the industry:

Bob Quinn was a Sr. VP and Chief Credit Officer who ran the Jupiter operations until he and Tom had a falling out when Tom moved the credit function to Houston in 1998. From that point on, he and Tom fought like cats and dogs until Bob was finally kicked out in early 1999. Pete Smith left First Sierra in late 1999 as did Charlie Lester. Peter Smith says he plans to join Bob in his new company that will be announced soon.

Charlie Lester believes", the acquisition of the Republic Group was the downfall of First Sierra. They took the "hard sell telemarketing techniques" of Republic Group and tried to make the other companies who had tried and profitable sales techniques adjust to the Republic Group methods. High yields, but questionable sales techniques."

"I agree with Charlie Lester since he does not want to be associated with the criminal element that Republic Group in California brought to First Sierra.... " name with held

"If you go back to their securitization issues and review all the conditions, reserves, letters of credit issued and factor in attorneys' & credit rating fees their cost of funds was much higher than expected in light of the losses encountered. Whether it was to the point where they had low spreads, no spreads or it was costing them money to do deals." name with held

Another theory is they paid too much for the operations they bought, which were little more than brokerage offices and continued to pay the officers of these firms’ high salaries, in addition to the cash and stock given for these operations." name with held

Leasing News has attempted to obtain verification of our list, to learn any reaction or comment from various officers or spokesmen at Sierra Cities, but has been unsuccessful.

VerticalNet to Acquire SierraCities For $133 Million came the announcement in November, 2000

The setting in May 1997--GIC, Corporate Capital, Lease Pro, Heritage Credit and Universal Fleet Leasing had been acquired, but there was no Houston sales management team in place.

In May 1997, Tom Depping called a summit meeting of the top 25 previous owners, key salespeople and HQ management in Houston to lay out a new organizational structure for the company. Under this structure the branches expanded and grew the sales volume. Unfortunately, the acquisition of the Republic Group took place in mid-1998 and Depping fell in love with the 20-35% yields that they were realizing. When people like Mike Wing, Tom Madonna, Oren Hall and I told Depping how they were screwing the customers with borderline and flat out illegal tactics, he blew us off as being sour grapes.

At the Chairman's Club in Los Cabos, Mexico in February 1999, several of the "kids" from Republic bragged about the tactics they used such as transposing payment amounts. If the payment was quoted at $314.57, they would doc the deal at $341.57. If the customer should catch it, they would say it was a typo and re-doc. Most of the time, the customer did not catch it or they would play guts ball with the customer and tell him that he wrote the payment down wrong.

One side note---the "kids" from Republic got into a food fight after the dinner buffet and the hotel management threatened to call the police to make them stop, but almost everything on the buffet table had been thrown by that time. Later at the Giggling Marlin, they got drunk and raised hell with Depping, Jim Raeder and Mark McQuitty present. Great image for a publicity held company.

In my opinion, the meeting in Los Cabos was the beginning of the end for First Sierra. Depping and Raeder became best buddies and Depping made Raeder the VP in charge of the branches. At age 33, Raeder wanted young studs to take over the acquired companies so he could make the companies over in the image of Republic. He spent money like it was water to have walls taken down and cubicles installed since he felt that opened cubes made for a more energetic office. He ignored the proven salespeople and ordered the branches to hire new telemarketers. The trend towards high-pressure telemarketing chased away many established salespeople with vendor relationships. In addition to wasting money remodeling the branches and losing established salespeople, they found that telemarketing approach did not work without a large staff that was constantly coached and encouraged by a sales manager on a daily basis.

Then came the charter to become a bank. It did not take long before people like Bob Henchey realized they could not use the Republic approach if they were to meet federal guidelines. The last I heard, Bob Henchey is still the President of the FSF ( Operating Company. Changes were made and the yields at Republic dropped almost overnight. The emphasis on telemarketing was reduced in the branches and volume continued to drop like a rock.

In June 2000, Depping fired Jim Raeder for "cause" with no severance package. Mark McQuitty was fired at the same time with a severance package. The word is that spent over $1,000,000 for a May meeting of all the salespeople in San Antonio. If the money had not been spent for that meeting, First Sierra would have shown an operating profit for the quarter.

Back tracking a little. Two other negatives hit First Sierra in late 1999 and into 2000.

1. The securitization market went to hell in a hand basket and First Sierra was married to that market.
2. The name was changed from First Sierra to in an attempt to capitalize on the trend. Unfortunately, the timing of the name change took place within weeks of the collapse. Depping did not realize that is a website address, not a company name.

Couple the Republic debacle with the securitization and issues and the failure of First Sierra became eminent.

Other failure reasons:

-Depping's ego and lack of loyalty. The best line I have heard about Tom is "He has no old friends, just new friends and wannabes".
-Company game plans developed in resort locations where more emphasis was placed on expensive rooms, golf and booze instead of work. That is why the plans changed so often.
-Changing game plans caused confusion and lack of direction in the branches and Houston.
-The ethics of First Sierra management was questioned by people like Oren Hall from the very git-go.
-The loss of experienced executives like Bob Quinn, Mike Wing, Oren Hall, Tom Madonna, Valerie Hayes Jester, Fred Van Etten, Danny Fritz, Pete Smith, Helen Darrington, Dennis Meyer, Don Zaretsky, Bill Stauder, Ruth Spiers (Tom's AA for 15 years at First Sierra and previous companies) and the list goes on and on. You can't lose this many top people without the troops losing confidence in their own futures.
-Lavish spending for suites, booze and golf outings for the top guys. My room at the Chairman's Club in Los Cabos was over $500 per night. My room for the prior manager's meeting in Scottsdale was over $500 also. I don't know what the cost of the suites for Depping and others cost, but they had to be extremely expensive. At the same time money was being spent like this, the branches were being hit with major cost cutting programs. Go figure!!

Take care and keep up the good work for the industry.

Charlie Lester

At American Leasing, I interviewed two ex-Republic Leasing, Anaheim Sales people.

They told me how they were trained to make switches, just as Charlie Lester explained. Or bid for a lease, using a very low 36 month lease, but when they went to sign it, change the term to 48 months or 60 months. They were taught how to sell in this manner. Many lessees did not catch the change, or if they did, they convinced the sales people were taught tactics to do this.

Another was the weekly contest of who could charge the highest documentation fee. It was not uncommon to get $1,000 on a $25,000 lease. The winner not only got a percentage, but won the contest for a large television set or a monthly contest top prize of a trip to Cabo San Lucas or Hawaii. The salesman I interviewed told me he once charge $800 documentation fee on a $5800 lease...but he didn't win the prize as one salesman got $950 on a $4,000 lease ( I know this is hard to believe, but that is what he told me and how they would quote on partial equipment or partial orders, take the deal away with a low rate, but when they had the full list, they would change the rate and rarely were they "caught" and when they were, the sales techniques and procedures of how to close the What Charlie Lester reports, I can tell you was verified personally from these two interviews with former Republic Leasing of Anaheim salesmen ).

Full Report:

His current facility (Altus Hospice):

Altus House
Charlie Lester - Room 6
5411 Northland Drive NE
Atlanta, Georgia 30342


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Today in History

1955- - The musical, "Damn Yankees" opened in New York City for a successful run of 1,019 performances. The show, at the 42nd Street Theatre mixed both baseball and ballet. It is an adaptation of the book, "The Year the Yankees Lost the Pennant". Gwen Verdon starred in the role of Lola. Whatever Lola wants Lola gets including the Tony for Best Actress in a musical for her performance. My mother took me to the matinee and Ray Walton as the devil was my favorite.


This Day in American History

    1494-- Columbus discovered Jamaica in 1494, meeting the Arawak Indians, who reportedly celebrated the event with a rum drink. He would eventually enslave or kill all on the many islands by disease or violence.
    1847-The American Medical Association was organized at a meeting at Philadelphia attended by 250 delegates. This was the first national medical convention in the US.
    1864- The forces of Union General Ulysses S. Grant and Confederate General Robert E. Lee clash in the Wilderness, beginning an epic campaign for the capture of the Confederacy capital. Lee had hoped to meet the Federals, who plunged into the tangled Wilderness west of Chancellorsville, Virginia, the day before, in the dense woods in order to mitigate the nearly two-to-one advantage Grant possessed as the campaign opened. For the next six weeks the battle continued off and on.
    1867- Nelly Bly (Elizabeth Cochran Seaman) - U.S. journalist. The first woman superstar of journalism, NB was a fighter for women's rights and the underdog. She once feigned insanity to get inside asylum to expose the dismal conditions for the emotionally ill. Her fame, however, rests on a publicity race around the world to beat the 80-day around the world fictional trip authored by Jules Verne. Her career that started at $5 a week and reached a high point of $25,000 a year. Her first articles were about the slum life of her home area of Pittsburgh and the dismal conditions forced on the working girls of the city because of low wages and social stigmas. She then went to Mexico where she wrote of the poor there and the overt official corruption that kept so much of the culture in poverty while making others super rich.. She was expelled from Mexico when the articles appeared. The articles were later collected in Six Months in Mexico (1888). She moved to New York to work for Joseph Pulitzer's New York World at a much higher salary. Her first assignment was feigning insanity and being committed to an asylum. Her exposes resulted in a grand jury hearing and some changes in care of the insane. The articles were collected in Ten Days in a Mad House (1887) Her career included exposes of sweatshops, the jail system (she was arrested after pretending to shoplift), and even the briberies inherent in the lobbying system that influences legislatures. Then came her high publicized trip around the world to break the Jules Verne fictional record of "Around the World in 80 Days." Traveling alone on whatever transportation was available, she sent back dispatches that were eagerly read by the public so that when she returned to New York in 72 days, 6 hours and 11 minutes, she was the most famous woman in America - perhaps in the world. She published her exploits in a successful Nellie Bly's Book: Around the World in Seventy-two Days 1890). She was 23 years old. She also described using a diving bell to descend into the ocean and then floating above the earth in a balloon. Her real name was Elizabeth Cochran Seaman. The pen name "Nellie Bly" came from a Stephen Foster song.
    1891- the world-famous Carnegie Hall opened in New York. Among the opening night attractions ... Tchaikovsky conducting his "Marche Solennelle." On this date in 1991, a 100th birthday celebration for the hall included two concerts, featuring the likes of violinist Isaac Stern, tenor Placido Domingo, soprano Jessye Norman, cellist Mstislav Rostropovich and conductor Zubin Mehta.
    1893-Stock Market Crash: Wall Street stock prices took a sudden drop. By the end of the year 600 banks had closed. The Philadelphia and Reading, the Erie, the Northern Pacific, the Union Pacific and the Atchison, Topeka and Santa Fe railroads had gone into receivership; 15,000 other businesses went into bankruptcy. Other than the "Great Depression" of the 1930s, this was the worst economic crisis in US history; 15-20 percent of the workforce was unemployed.
    1895- Peggy Margaret Francis Bacon - U.S. artist. Her main media were painting, dry point etching, and lithography. PFB once gave up painting because her husband derided her and made her think her efforts were inadequate. She was able to fashion a great career in caricatures and book illustrations. Her work was often featured in the New Yorker magazine. She resumed serious painting after her divorce at age 45. At age 80, in 1975, she became the first living woman to be given a retrospective at the National Museum of American Art. Her witty, much praised caricatures of the famous of her era were collected in the best-seller Off With Their Heads (1934).
    1903-James Beard birthday, the Father of American Cooking was born at Portland, OR. In a long and busy culinary career, he penned more than 20 classic cookbooks, appeared on television's first cooking show in 1946 and was an enthusiastic ambassador for the American style of cooking. He died Jan. 21, 1985. His Greenwich Village brownstone is America's only culinary historic landmark and serves as the headquarters of the James Beard Foundation.
    1904-Baseball's Perfect Game: Denton T. "Cy" Young pitched baseball's first perfect game, not allowing a single opposing player to reach first base. Young's outstanding performance led the Boston Americans in a 3-0 victory over Philadelphia in the American League. The Cy Young Award for pitching was named in his honor.
    1925- High school science teacher John Scopes was arrested for teaching evolution in one of Tennessee's public schools
    1936-The first bottle with a screw cap and a pour lip was patented by Edward A. Ravenscroft, Glencoe, Il. The bottles were manufactured by the Abbott Laboratories, North Chicago, Il.
    1938-Soul singer Johnnie Taylor was born in Crawfordville, Arkansas. One of the mainstays of the Stax-Volt label in Memphis during the late '60s, his best known recording is his 1968 million-seller "Who's Making Love?"
    1942- Country superstar Tammy Wynette, whose real name is Virginia Wynette Pugh, was born in rural Mississippi, near Tupelo. "D-I-V-O-R-C-E" and "Stand By Your Man," which is also the title of her autobiography, are typical of her country ballads, backed by the lush orchestral arrangements of Billy Sherrill. "Stand By Your Man," which topped the country charts in 1968, was the biggest-selling single by a woman in the history of country music. Her other number-one hits include "The Ways to Love a Man" from 1969, "He Loves Me All the Way" from 1970 and "We're Gonna Hold On," a 1973 duet with George Jones. Wynette and Jones were married from 1968 to 1975. In 1992, she teamed up with pop-pranksters The KLF. Together they scored a modest hit with a reworking of "Stand by your Man", called "Justified and Ancient (Stand by the Jams)."
    1945 - In Lakeview, Oregon, Mrs. Elsie Mitchell and five neighborhood children are killed while attempting to drag a Japanese balloon out the woods. Unbeknownst to Mitchell and the children, the balloon was armed, and it exploded soon after they began tampering with it. They were the first and only known American civilians to be killed in the continental United States during World War II. The U.S. government eventually gave $5,000 in compensation to Mitchell's husband, and $3,000 each to the families of Edward Engen, Sherman Shoemaker, Jay Gifford, and Richard and Ethel Patzke, the five slain children. The news was never printed in newspapers and other balloons were handled by the army. The Japanese were unaware that the balloons reached the United States. The explosive balloon found at Lakeview was a product of one of only a handful of Japanese attacks against the continental United States, which were conducted early in the war by Japanese submarines and later by high-altitude balloons carrying explosives or incendiaries. In comparison, three years earlier, on April 18, 1942, the first squadron of U.S. bombers dropped bombs on the Japanese cities of Tokyo, Kobe, and Nagoyo, surprising the Japanese military command, who believed their home islands to be out of reach of Allied air attacks. When the war ended on August 14, 1945, some 160,000 tons of conventional explosives and two atomic bombs had been dropped on Japan by the United States. Approximately 500,000 Japanese civilians were killed as a result of these bombing attacks.
    1945 - The War Department announces that about 400,000 troops will remain in Germany to form the US occupation force and 2,000,000 men will be discharged from the armed services, leaving 6,000,000 soldiers serving in the war against Japan.
    1946—Birthday trumpet player, composer Jack Walrath
    1949---Top Hits
Cruising Down the River - The Blue Barron Orchestra (vocal: ensemble)
Forever and Ever - Perry Como
Again - Doris Day
Lovesick Blues - Hank Williams
    1949-“Stop the Music” Premiers. ABC's prime-time musical-game show hosted by Bert Parks. Featured the singing talents of Kay Armen, Jimmy Blaine, Betty Ann Grove, Estelle Loring, Jaye P. Morgan and June Valli, and the dancing numbers of Sonja and Courtney Van Horne. Harry Salter conducted the band.
    1955- - The musical, "Damn Yankees" opened in New York City for a successful run of 1,019 performances. The show, at the 42nd Street Theatre mixed both baseball and ballet. It is an adaptation of the book, "The Year the Yankees Lost the Pennant". Gwen Verdon starred in the role of Lola. Whatever Lola wants Lola gets including the Tony for Best Actress in a musical for her performance. My mother took me to the matinee and Ray Walton as the devil was my favorite.
    1955 -Dodger rookie hurler Tommy Lasorda, making his major league debut, ties a record by throwing three wild pitches in the first inning of a 4-3 victory over the Cardinals. The future Dodger Hall of Fame skipper doesn't get the decision and will end his playing days after the 1956 season with a lifetime record of 0-4.
    1957---Top Hits
All Shook Up - Elvis Presley
School Day - Chuck Berry
A White Sport Coat (And a Pink Carnation) - Marty Robbins
Gone - Ferlin Husky
    1961- Astronaut Alan B. Shepard Jr. became America's first space traveler as he made a 15-minute suborbital flight in a capsule launched from Cape Canaveral
    1962 -"West Side Story" soundtrack album goes to #1 & stays #1 for 54 weeks which is more than 20 weeks longer than any other album
    1962 - No. 1 Billboard Pop Hit: "Soldier Boy," The Shirelles.
    1965---Top Hits
Mrs. Brown You've Got a Lovely Daughter - Herman's Hermits
I Know a Place - Petula Clark
I'll Never Find Another You - The Seekers
This is It - Jim Reeves
    1966-- Willie Mays hit home run number 512 of his career. The San Francisco Giants' superstar became the greatest home run hitter in the National League to that time.
    1967-"San Francisco" by Scott McKenzie enters the charts and will eventually hit #4. The song became kind of an anthem during the hippie movement.
    1968-Buffalo Springfield played its final show in Long Beach, California. There were reports of persistent squabbling between group members Stephen Stills and Neil Young. But Stills and Young would go on to form Crosby, Stills, Nash and Young with David Crosby and Graham Nash. Buffalo Springfield was together only two years and released just three albums, but their 1967 hit "For What It's Worth" became an anthem for the hippie generation.
    1973-Secretariat, ridden by Ron Turcotte, won the Kentucky Derby in record time of 1:59.2 “Big Red,” as he was known, beat Sham by 2 ½ lengths and went on to win the Triple Crown.
    1970 - No. 1 Billboard Pop Hit: "American Woman," Guess Who.
    1973---Top Hits
Tie a Yellow Ribbon Round the Ole Oak Tree - Dawn featuring Tony Orlando
The Cisco Kid - War
Little Willy - The Sweet
Behind Closed Doors - Charlie Rich
    1973-- the University of Miami breaks away from the unstated but clearly understood rules and offers the first athletic scholarship ever made to an American WOMAN (Terry Williams). YES - the date was 1973.
    1978-Pete Rose of the Cincinnati Reds got the 3,000 th hit of his career, a single off Steve Rogers of the Montréal Expos. Rose played in the majors form 1963 through 1986 and wound up with 4,256 hits, more than any other player.
    1979-Thirteen years after the original duo of Peaches and Herb split up, Herb Feemster teamed up with a new Peaches, Linda Greene, to enjoy a four week run at #1 on the US singles chart with "Reunited".
    1979-28 year old Suzi Quatro reached #5 on the Hot 100 with a duet with Chris Norman called "Stumblin' In". It would be the only time she cracked the Top 40.
    1981---Top Hits
Morning Train (Nine to Five) - Sheena Easton
Just the Two of Us - Grover Washington, Jr./Bill Withers
Being with You - Smokey Robinson
Rest Your Love on Me - Conway Twitty
    1981 - Mobile, Alabama had its worst flash flooding ever as thunderstorms unloaded 8 to 16 inches of rain over the metro area in a couple of hours. Damage was set at 36 million dollars.
    1982 - No. 1 Billboard Pop Hit: "Chariots of Fire," Vangelis. The performer, whose real name is Evangelos Papanthanassiou, wins an Academy Award for the score to the film "Chariots of Fire."
    1986 - Sacramento, California hit the 100 degree mark, breaking the previous record for this day of 92 degrees which was set in 1944. This is the earliest in the season Sacramento has hit the 100 mark.
    1987 - Unseasonably hot weather prevailed in the western U.S. A dozen cities in California reported record high temperatures for the date. Afternoon highs of 93 degrees at San Francisco, 98 degrees at San Jose, 100 degrees at Sacramento, and 101 degrees at Redding, were the warmest of record for so early in the season. The high of 94 degrees at Medford OR was also the warmest of record for so early in the season.
    1989---Top Hits
Like a Prayer - Madonna
I'll Be There for You - Bon Jovi
She Drives Me Crazy - Fine Young Cannibals
Young Love - The Judds
    1989 - Thunderstorms swept across Georgia and the Carolinas during the late afternoon and evening hours spawning seventeen tornadoes. A tornado at Toccoa GA injured 15 persons, and a tornado at Chesnee SC killed two persons and injured 35 others. Five tornadoes in North Carolina accounted for five deaths, 88 injuries, and sixty million dollars damage. Thunderstorms also produced baseball size hail at Lake Murray SC, and wind gusts to 78 mph at Brooklyn MD.
    1990 - A strong Pacific cold front moving rapidly inland caused weather conditions at the east end of the Strait of Juan de Fuca in Washington State to quickly change from sunny and calm to westerly winds of 60 mph and ten-foot waves. Three recreational fishing boats capsized in heavy seas off Port Angeles resulting in five deaths. In California, temperatures soared above 90 degrees across much of the state. The high of 101 degrees in downtown Los Angeles was eight degrees hotter than their previous record for the date
    1993- Microsoft announced it would bundle its popular database software, Microsoft Access, with its Microsoft Office package, which already included MS Word and Excel. Microsoft's competitors, including Lotus and WordPerfect, also added database software to their office software suites.
    1995 -a supercell thunderstorm rapidly developed just ahead of a fast moving bow echo squall line and blasted Tarrant County, Texas. Large hail up to 5 inches in diameter, driven by 80 mph winds, caused a tremendous amount of damage. 10,000 people were caught out in the open at Mayfest in Downtown Forth Worth, resulting in 109 injuries from the large hail. Torrential rains of up to 3 inches in 30 minutes and 5 inches in one hour across Dallas caused unprecedented flash flooding, resulting in 16 deaths. Total damage in Forth Worth alone was estimated at 2 billion dollars, making this the costliest thunderstorm event in U.S. history. This was the third severe hailstorm to Strike the area in only a little over a month.
   1997-- Crosby, Stills and Nash helped mark the 27th anniversary of the Kent State University shootings with a concert at the Ohio campus. The group performed their hit "Ohio," written by Neil Young after the killings of four students by National Guardsmen during an anti-war demonstration on May 4th, 1970.
    1999 - At the 34th annual Academy of Country Music Awards, Garth Brooks is named artist of the decade, Dixie Chicks' critically acclaimed multiplatinum debut "Wide Open Spaces," is named album of the year, and Faith Hill wins top female vocalist, as well as single and video of the year honors for "This Kiss."
    2000 -Cardinal first baseman Mark McGwire hits the longest home run in the 30- year history of Riverfront/Cinergy Field, but the 473-foot shot isn't enough as Ken Griffey Jr.'s homer leads the Reds past St. Louis, 3-2.
    2005 - Mavis Staples and Charlie Musselwhite lead the field with three trophies each at the 26th W.C. Handy Awards, held in Memphis.

NBA Finals Champions This Date

    1969 Boston Celtics

Stanley Cup Champions This Date

    1966 Montréal Canadiens


Baseball Poem

The Batter

From the book

That Sweet Diamond

by Paul B. Janeczko, Carole Katchen (Illustrator)

He approaches the plate,


swinging smoothly

in slow motion

knowing his choice is simple:

swing or not.


As he paws

the back line of the batter's box,

matching concentration and stare

with the pitcher,

he knows




makes failure likely.


Pitcher rocks.


Batter waits.


Then, in the time it takes

a happy heart to beat,





The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?



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