Wednesday, November 2, 2005
Headlines--- Impact 3 Hurricanes on the Leasing Industry
######## surrounding the article denotes it is a "press release" Impact of the three Hurricanes on the Leasing Industry "I would like to see some news on the impact of hurricane Katrina and Rita and now Wilma on the leasing industry. I live in the New Orleans area and have experienced the devastation. What is the business community saying about the impact on the leasing industry? Loss of equipment etc?" Roxanne Melerine Sr. VP Marketing Newton and Associates, Inc. 1-985-727-3368 roxannemelerine@newton-associates.com Katrina (end of August), Rita (Sept. 20), and Wilma (Oct. 19, NY Times calls " the most powerful storm ever recorded in the Atlantic Ocean basin. Perhaps one of the indicators was the attendance of the Equipment Leasing Association Conference, the attendees, and the hotel itself. How many other such conferences and activities were affected? Will businesses come back to the hurricane area in the next seasons or book elsewhere such as Nashville, Chicago, Denver, Seattle, San Francisco, or Boston? If readers have information they would like to share about how the hurricane has affected their leasing business, we would like to print it ( and if you like, we will with hold the name of you and your company, at your request. ) To date, indicators have show a positive, growing economy, and thus also why the Fed has raised its key rate again, and will apparently continue to do so. Perhaps actual statistics must be lagging if the hurricane has affected the leasing industry, as evidenced by the both the Equipment Leasing Association index and National Association of Credit Managers ( please see reports in this edition.) Maybe the cost of rebuilding and money outlays for the emergency were good for the economy? Christopher Menkin, Editor -------------------------------------------------------------- Correction: "typo" Should have read "past" not "present" "Kit...for the record so people don't think I am writing as a board member. I am NOT a board member of the ELA. "I think you had a line in front that said "Current and present ELA Board members came to the rescue of the conference, too, such as our good friend Debbie Monosson: "meaning that I am a board member. If current and present members such as Debbie Monosson....then therefore people will think I am a board member. I just want people to know I was not writing this because of that. I wrote it because I meant it as an individual." Deborah J. Monosson The typo was corrected on the "on line version," in the archives and is hereby also brought to eaders' attention: The Friday story: http://www.leasingnews.org/archives/October%202005/10-31-05.htm#ela -------------------------------------------------------------- ELA may Return Portion of Boca Raton Registration to Non-Attendees
ELTnews has announced the Equipment Leasing Association (ELA) is will consider changing its "hell and high water" registration policy regarding the Boca Raton October Conference: " ELA intends to return a portion of the registration fee to each and every individual who registered for the convention. The amount will be determined in the next few weeks, once we have as ascertained the cost of ELA's various expenses for the convention." Most of the readers who registered for the Equipment Leasing Association Boca Raton Conference from October 23-24, who did not attend, told us they were advised by the hotel itself not attend due to the hurricane. The standard reservation policy of the hotel: "October 1-December 20, 2005: Reservations must be canceled 7 days prior to arrival to avoid penalty of one night's room charge." Sara Buzzannco of the Boca Raton Resort & Club sales office in Washington, DC, left this voice mail that she had no knowledge of the hotel personnel advising not to attend the ELA conference, but nevertheless they were returning all deposits to those who registered: "I understand you called the resort yesterday regarding reservation and perhaps attribution or cancellations chargers on, please know we are not charging cancellation or attribution to any attendees or members equipment leasing association group at no point were we told; were we telling our customers thru reservations not to come. We accepted reservation up thru the last day of the program but non-the-less we will not be charging any cancellations penalties on deposits, etc ." Others wrote Leasing News they did not attend because they could not reach anyone at the ELA office about the conference, from television reports, and information on the hurricane obtained from the internet, particularly announcements and warnings from the National Hurricane Center. Some noted they were from distances that required two connections. In all the cases, they were able to cancel their flights and receive either airline credit or credit card reimbursement at their choice, even though many did not have airline insurance. It should be noted that Thursday October 20, the National Hurricane Center started informing that Florida may be a destination for Wilma, but it was not until Friday that they stated they would be issuing an official warning, which was done on Saturday, October 22, at 10:00am: http://leasingnews.org/PDF/Hurricane%20WILMA.pdf It is not uncommon for airlines, hotels, or other organizations to forgive "hell and high water" reservation policy cancellations due to a death in the immediate family, serious illness such as a heart attack or appendicitis, or an act of god, such as a hurricane or earthquake. It should also be pointed out that none of the ELA members who requested reimbursement of their $1550 (reported by one who cancelled as his registration fee,) said they would resign or not renew their membership. All wanted to continue their support for the association, but thought the board of directors was being unfair, as under the circumstances of the hurricane, they were due reimbursement as both the airline and hotel volunteered to do. In previous stories, ELA President Mike Fleming, CAE, and Joe Lane, former chairman and current chairman of the foundation, repeated the policy of cancellation, and they were not responsible for what the hotel, the television, or the internet reported about the hurricane and whether it was advisable to attend the conference, even though a hurricane warning had been issue. The sales department at the hotel told Leasing News that ELA had reserved 400 rooms for members, and other organizations, such as GE Capital, reserved 25 rooms. The expect attendance was over 1200. Leasing News has not been able to obtain any of the actual facts, although guesses are 800 who were registered did not attend. This may be fairly accurate, as Mike Fleming in an e-mail reportedly estimated the actual attendance was from 400 to 500. Attendees have told Leasing New a difference number, but to date no actual head count, so it is all conjecture. Perhaps when the financial decision is made, these numbers will be made available to members. These are facts that Leasing News found: Monday, December 31, was the first day the Boca Raton Resort & Club, 501 East Camino Real Boca Raton, Florida was fully open, except for the Beach Club, which is expected to open until November 9th. according to the hotel. Leasing News has one of its internet serves based out of Boca Raton, Florida (Verio.) During the storm, we were down. Verio "tech" Nelson Abreu says he drives by the Boca Raton on his way to work each day and it has been dark until today, confirming what the "front desk" at the Boca Raton told us. By the way, Abreu says he house has been without electricity and water for since the hurricane hit, in addition it takes him three times as long to get to work as only 10% of the traffic lights are working, so every intersection becomes a four way stop operation. The Boca Raton Chamber of Commerce reports this day it is still without power or telephone operation, and the city announces the curfew (Palm Beach County south of Southern Boulevard) remains from 9:00pm until 5:00am. They do lift the precautionary boil water order this day. Florida Atlantic University notifies students they may return to their university residences and classes and normal operations will begin on Monday, November 7. ELTnews issue on the statement of considering returning a portion of the $1550 registration fee: http://leasingnews.org/PDF/ELT%20Enews%20Daily%20Issue%20October%2031,%202005.pdf ---------------------------------------------------------------------- Readers Comments on Leasing News ELA Conference Uproar " I for one am definitely upset about how the conference was held, however, I have known Mike Fleming from back in the late 70's and let us not forget all the good he has done for the leasing industry and the AEL and now ELA. Just thought I would add this comment and let you know briefly my position. "Keep up the good work and let's keep the news unbiased as you always have." God Bless Richard A. Galtelli CLP "$1,550 with ELA member discount. Honestly, I don't even care much about the fees. I just wish the organization would not have wasted everyone's time and put people in peril." Christopher A. Enbom "You hit a home run today with your article on the uproar about the ELA convention in Boca Raton. This kind of article is what you do best, and what continues to bring readers to Leasing News. You went behind the press releases to get another side to the story, and you let attendees speak for themselves, making the story even more compelling. "I can't wait for the next chapter!" Bob Teichman, CLP "If the ELA refuses to return money, I think at a minimum, they should offer to credit peoples paid registration fees toward next years conference. That way they are not obligated to return large amounts of money and it gives them some time to make any necessary adjustments to next years event. This would hopefully please both the board and its members." Todd Kaufman "As the Executive Director of an association whose annual conference and trade show contributes $1.23 million to my annual budget, going to a hurricane prone area during hurricane season certainly wouldn't be a destination choice for me! "However, all the numbers aren't in on ELA's attendance, and you can be sure there will be lots of spin. I'm sure there's a cancellation policy that they can stick to when the demands for a refund come pouring in, but, when you piss off the members, they GO AWAY mad and you can kiss that life cycle revenue goodbye. "This could be the birth of a new leasing splinter group." James Purdy "I am shocked, shocked that you report that the advanced fees for the Equipment Leasing Association meeting in Boca Raton are being retained as "earned." Those individuals who placed life and limb above attendance at the meeting must not have been aware of the added attraction of a hurricane the organizers must have thought would add interest to the meeting, if one could find a non-cancelled flight and a boat to get to the hotel once there. "In this case the hurricane in Florida only proved that phrase applies to all in the industry. The wonderful parties at night might have been very nice in the candlelight, a little dark in the hallways getting back to your room but, hey, exciting. The organizers remind me of those brilliant and intrepid individuals that did not leave the low areas of southern Florida where a storm surge of as high as 17 feet was within expectations. "It was only the vagaries of weather, and luck, that the surge was lower than expected otherwise the nation would have had many images of floating bodies on their TV screens and it was luck that no one was hurt at the meeting. Perhaps when or if a remake of Dumb and Dumber is made the organizers could provide some script input." Jerry L. Bernardy -------------------------------------------------------------- Classified Ads---Sales Manager Atlanta, GA Chicago, IL. Chicago, IL Dallas/Fort Worth, TX. Marlton, NJ New York, NY Pennsauken, NJ. Portland, OR. Scottsdale, AZ For a full listing of all "job wanted" ads, please go to: http://216.66.242.252/AL/LeasingNews/JobPostings.htm To place a free "job wanted" ad, please go to: http://216.66.242.252/AL/LeasingNews/PostingForm.asp ------------------------------------------------------------- Leasing Association Meetings Open to Non-Members ----Arizona Today at 5pm with Jeff Taylor, CLP
-------------------------------------------------------------
Ira Romoff: Sovereign Buys Independence Bank "A lot happened at Independence last week and we are very excited about what it means for you and your lessees, as well as for our staff and shareholders of ICB. "The agreement between Independence and Sovereign brings together two strong financial institutions to create a Northeast region powerhouse. Independence will be the Metro New York Market Division of Sovereign, which becomes the 18th largest bank in America. With $81 billion in assets and deposits of more than $47 billion, we will have a network of 800 branches, stretching from New England to New York to New Jersey to Philadelphia to eastern Pennsylvania. "With the merger not expected to take place until July 2006, you can count on the ICB Leasing Team to continue to serve your financial needs with the same professionalism and commitment you have come to expect from us. Many questions have to be answered and will be resolved in the near future. For now, it's business as usual for us. While we always appreciate your business, we need to rely on you now more than ever to see that ICB Leasing continues to grow and prosper. "Rates increased throughout the month, our next Fed Chairman was nominated, yet another hurricane (that cancelled my trip to Boca) wrecked the ELA convention, oil prices are down, inflation worries are up, etc. etc. Unfortunately, we can't hold rates, and have to move up 15 basis points this month. Each month we set rates for the approvals during the month. We then hold our credit approvals for 90 days and also lock the rate for 60 days. Call for app only rates." ### Press Release ####### Independence Community Bank Corp. to be Acquired by Sovereign Bancorp in Cash Transaction at $42 per Share Independence President Alan H. Fishman to Become President and COO Of Sovereign Bank and Chairman and CEO of Sovereign Bank's Metro New York Market Division BROOKLYN, NY, and PHILADELPHIA, PA, Monday, October 24, 2005 --- Independence Community Bank Corp. ("Independence") (NASDAQ: ICBC), and Sovereign Bancorp, Inc. ("Sovereign") (NYSE: SOV), parent company of Sovereign Bank, announced today they have reached a definitive agreement for Sovereign to acquire 100% of Independence Community Bank Corp. of Brooklyn, New York, for $42 per share in cash, representing an aggregate transaction value of $3.6 billion. Independence has $18.5 billion in assets and is a leading community bank and multifamily lender in the Metro New York area. The combined company, with over $80 billion in assets, solidifies Sovereign's position among the top 10 banks in the northeastern United States and the top 20 banks in the entire country. This transaction gives Sovereign the No. 9 deposit market share in the very attractive Metro New York market. Simultaneously, Sovereign announced that it has reached an agreement with Grupo Santander, the 9th largest bank in the world as ranked by market capitalization, whereby the Madrid, Spain-based banking group will become Sovereign's financial partner and largest shareholder through the purchase of approximately 90 million shares for $2.4 billion in cash at a purchase price of $27 per share. Independence President & CEO Alan H. Fishman said, "Sovereign is an outstanding partner for our employees, customers and communities. They share our vision of unmatched customer service. With Sovereign's and Santander's support, this partnership will provide greater resources to expand our presence in our key markets and enhance our growth and profitability using our proven successful business model." Jay Sidhu, Sovereign Bancorp's Chairman, President and Chief Executive Officer, said, "The acquisition of Independence is a logical next step, as it allows us to enter the last large market within our northeastern footprint where we did not previously have a presence. As the No. 9 bank in the New York metro market, we will be a leader in the most dynamic banking market in the United States. Our strengths, in consumer and commercial banking, can only add to the compelling franchise Independence has built and add to our revenue stream. We expect to execute long-term contractual relationships with the senior management of Independence to motivate them to continue to build the company profitably," added Sidhu. Mr. Sidhu will continue to be Chairman, President and CEO of Sovereign Bancorp. Mr. Fishman, currently President and CEO of Independence, will become President and COO of Sovereign Bank and Chairman and CEO of the Metro New York Market. In addition, an Independence outside director is expected to join Sovereign's board. The acquisition of Independence is subject to approval by the shareholders of Independence. Both transactions are also subject to approval by various regulatory authorities, and are expected to close on or about July 1, 2006. Merrill Lynch & Co. was financial advisor and provided a fairness opinion to Independence. Lehman Brothers provided a fairness opinion to Independence. Simpson Thacher & Bartlett LLP acted as legal advisor. Citigroup Corporate and Investment Banking acted as principal financial advisor to Sovereign. Sovereign used two additional financial advisors, Bear, Stearns & Co. Inc. and JP Morgan Chase, to provide advice on certain other aspects. Stevens & Lee acted as legal advisor. Independence Community Bank Corp. ("Independence") (NASDAQ: ICBC), is the holding company for Independence Community Bank. The Bank, originally chartered in 1850, currently operates 123 branches located in the greater New York City metropolitan area, which includes the five boroughs of New York City, Nassau and Suffolk Counties and New Jersey. At its banking offices located on Staten Island, the Bank conducts business as SI Bank & Trust, a division of Independence Community Bank. The Bank has three key business divisions, Commercial Real Estate Lending, Consumer Banking and Business Banking, and actively targets small and mid-size businesses. The Bank maintains its community orientation by offering its diverse communities a wide range of financial products and by emphasizing customer service, superior value and convenience. The Bank's web address is http://www.myindependence.com. Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent company of Sovereign Bank, a $60 billion financial institution with more than 650 community banking offices, over 1,000 ATMs and approximately 10,000 team members with principal markets in the Northeast United States. Sovereign offers a broad array of financial services and products including retail banking, business and corporate banking, cash management, capital markets, trust and wealth management and insurance. Sovereign is the 19th largest banking institution in the United States. For more information on Sovereign Bank, visit <http://www.sovereignbank.com> or call 1-877-SOV-BANK. Santander (SAN.MC, STD.N) is the 9th largest bank in the world by market capitalization and the largest in the Euro Zone. Founded in 1857, Santander has 63 million customers, 10,099 offices and a presence in over 40 countries. It is the largest financial group in Spain and Latin America, and is a major player elsewhere in Europe, including the United Kingdom through its Abbey subsidiary and Portugal, where it is the third largest banking group. Through Santander Consumer it also operates a leading consumer finance franchise in Germany, Italy, Spain and nine other European countries. In 2004, Santander recorded 3.6 billion euro in net attributable profits. In Latin America, Santander manages over US$130 billion in business volumes (loans, deposits and off-balance sheet assets under management) through 4,100 offices in 10 countries. For Information, Call Frank W. Baier, Chief Financial Officer, Independence Community Bank ###Press Release############################ Sales Makes it Happen---The New Sales Professional
-------------------------------------------------------------- Classified Ads---Help Wanted Administration Manager
Lease Representative
Leasing Sales Manager
National Account Manager
------------------------------------------------------------- 19 Select Leasing Companies Report Business Up in September
In September, the Equipment Leasing Association ELA Monthly Leasing Index new business volume increased from Augusts' $4.28 billion to $5.06 billion, representing an 18.1 percent increase. This is also the highest reported amount of new business volume for any month this year. ELA Monthly Leasing Index Participants ADP Credit Corporation It should also be noted that comparing quarter to quarter, the third quarter is better than the first, but is relatively flat: 3.66 first quarter, 4.45 second quarter, 4.56 third quarter Normally from September to December are the better months for the leasing industry, almost following general increase in retail sales, as businesses gear up for their year-end, including taking tax deductions and procuring equipment or new technology. The trend indicates continued business improvement in the leasing industry. Of concern, are the credit ratio approvals:
As well as the "charge offs:"
Ralph Petta, Vice President of Industry Services, states the strong September perhaps was not expected, "Despite the hiccup in portfolio quality, the September numbers show a robust leasing business, which is surprisingly strong given the weather events and high energy prices that occurred during the quarter." The total number of employees increased slightly to 9,001 compared to 8,939 in August. Although off from April's high of 9,259, this puts total FTEs back over the 9,000 mark.
------------------------------------------------------------- October "okay" says NACM Index The National Association of Credit Manager Index remained unchanged in October, they reported; however, October levels, October 2005 finished ".... up 40 points over its October 2004 level, October 2005 ended at 56.6 percent. When comparing today's favorable factors to just one year ago, two areas of interest emerge. First, 70.1 percent of credit manager said that sales were higher, compared to only 63.3 percent a year ago; this is an increase of 680 points. Another area of interest was the higher level of credit extended. In October 2004, credit managers reported 63.7 percent, compared to 70 percent for October 2005."
"...Overall, the CMI remains at 56.6 versus 56.4 last year, demonstrating solid, if unexciting growth." "The manufacturing sector remained virtually unchanged for October 2005. Overall it dropped 50 basis points, to finish at 56.0 percent. After a record high in September, sales ended at 68.9 percent, or down 520 points. There was also a comparable drop in new credit applications, which fell 540 points. "Like manufacturing, the service sector also remained virtually unchanged in October 2005. Although small, there was positive growth in three of the four favorable factors, pushing the index of favorable factors up slightly to 67 percent. Unfavorable factors increased, but only faintly. Overall, the sector continued to remain strong, economically, with nine of the 10 factors above 50 percent." The full report is available at: http://www.nacm.org/resource/press_release/pressOct05.html ------------------------------------------------------------- New Asset Deals On Pace For High This Year ABSnet New asset securitizations could hit a high of $20 billion this year if all transactions in the pipeline close on schedule. Ellen Welsher, managing director in Standard & Poor's new assets group, said the agency has already rated 40 deals worth $12 billion so far this year and could see 70 before year-end. The previous record was 63 deals totaling $18.1 billion in 2002. New assets include tobacco settlement revenues, stranded cost charges, as well as other assets not common enough to warrant consideration as a separate sector. This year has also seen a high in the number of wrapped deals: 20% up from 8% five years ago. "With the increase in newer asset types, there's more of a learning curve for investors to get comfortable with [them]" Welsher said, noting bond insurers help provide that comfort. At the same time, the number of new asset deals with the most senior tranche rated triple-B deals has soared to 24% from 3% just three years ago. Besides a number of tobacco deals, which are capped at a triple-B rating, one large deal skewed the market toward the rating, Welsher said. ------------------------------------------------------------- Enborn, Houlahan, Patterson, Walker New CLPs
"The Board of Directors of the Certified Leasing Professional Foundation would like to extend its congratulations to our four newest Certified Lease Professionals:" Christopher Enbom, CLP Douglas Houlahan, CLP Kirstin Patterson, CLP Chris Walker, CLP The letters "CLP" behind their names are visible recognition of their experience in the industry and their professional achievement in having passed the CLP Exam. The CLP Foundation is the official governing body for the Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism in the leasing industry. This designation identifies and recognizes individuals within the leasing industry who have demonstrated their competency through continued education, testing and conduct. "We invite you to visit our web site -- www.clpfoundation.org for detailed information about the CLP Foundation and the CLP Program. For further information about our Mentor Program and Anonymous Test take Program please contact:" Cynthia W. Spurdle
###Press Release############################ Travelers Financial Group Travelers Financial Group, a Canadian leader in the provision of financial solutions and services in North America, is pleased to announce that James W. Bass and James Bruce have joined the Board of Directors of Travelers Leasing Corporation.
James Bass In his role as Director, Mr. Bass enhances and strengthens the ability of the Board to guide the company on its path of consistent and vibrant growth. Jim's expertise in auto finance will reinforce our continued strong. "I am looking forward to sharing my experience and industry insight to contribute to Travelers' goal to be the premier provider of alternative auto financing to Canadian automobile dealers and their clients", said Mr. Bass. James Bass, CPA, is a highly regarded executive consultant and expert in the automotive finance industry, with more than three decades of experience in finance and insurance-related industries. Mr. Bass is the founder and former President and Chief Executive Officer of Autoeloan.com, Inc., and the founder and former President and Chief Operating Officer of Auto One Acceptance Corporation. Under his leadership, Auto One Acceptance was the first sub-prime auto finance company to securitize its loans with an S&P rating. Also under Mr. Bass' leadership, his firm was the first to use a credit default insurance policy for investor protection. He sold the firm to California Federal Bank in 1997, and was instrumental during the following two-year interim transition period in continuing Auto One's consistent and exceptional growth in originations. Previous to1988, Mr. Bass held President, Executive Vice President, Chief Operating Officer and Vice President positions primarily in the property and casualty insurance industry, and the reinsurance industry for F & I management companies, Morris Temple & Company, Inc., Hamman & Bass Inc., and SCOR Reinsurance Company. Mr. Bass holds a BS Industrial Management Degree from the University of Arkansas and is also a licensed Certified Public Accountant in the State of Texas. Mr. Bass is a founder and the past Chairman and President and the present Treasurer of the Board of Directors of the National Automotive Finance Association. He is a frequent speaker at numerous conferences involving issuers and purchasers of automobile loan portfolios on a securitized or whole loan sales basis.
James Bruce Mr. Bruce brings to Travelers a wealth of knowledge and experience gained over 25 years in finance and investment banking and as a highly regarded business advisor to corporations. "We welcome Jamie Bruce's experience and ability to support us in identifying and developing opportunities for Travelers Leasing Corporation," said Travelers Financial Group CEO, Jim Case. Mr. Bruce added, "I am delighted to serve on the Travelers Board and am confident that I can assist Travelers in continuing its explosive growth". Mr. Bruce is a Partner of Capital West Partners, Western Canada's leading mid-market investment banker which provides Valuation, Capital Raising, Mergers and Acquisitions, Divestitures and a wide range of Business Advisory Services including Fairness Opinions. Mr. Bruce's financial career includes senior management roles at Pemberton Securities, RBC Capital Markets and at TD Securities as head of Investment Banking and Corporate Credit for British Columbia. Mr. Bruce has led hundreds of transactions to successful completion including M&A assignments, IPO's, private equity issues, debt financings and numerous other advisory assignments. Mr. Bruce is a Mechanical Engineer with an MBA. He is also a Certified Management Accountant and Chartered Business Valuator. Mr. Bruce presently serves, or has served, on a number of non-profit and corporate boards. Travelers Financial Group is a leader in the provision of financial solutions and services to consumers, vendors and financial intermediaries in North America. Travelers focuses on the provision of financial choice and the generation of value through the application of experience, service and innovation. Travelers Leasing Corporation, a unit of Travelers Financial Group and the third largest non-prime auto finance company in Canada, provides leasing and financing solutions and services specifically tailored to automotive dealerships and their customers. www.travelersfinancial.com CORPORATE CONTACT ###Press Release############################ LEASETEAM, INC. ANNOUNCES THE APPOINTMENT OF 11 OMAHA, NEB., - LeaseTeam, Inc., the premier end-to-end software solution provider to the equipment finance industry, is pleased to announce the recent appointment of 11 professionals to the company and the promotion of two others. Brent Dwerlkotte has joined LeaseTeam as a Quality Assurance Analyst. Brent received his Bachelor's Degree in Finance from Kansas State University. Prior to joining LeaseTeam, Brent worked in Customer Support/Installation at Information Technology, Inc. for six years. Rino Srivastava, a native of India, has accepted a position as a Software Engineer. Rino received a Master's of Science in Hydraulics Engineering from the Indian Institute of Technology in Roorkee, India, as well as a Master's of Science in Environmental Engineering from the University of Akron in Ohio. Before joining LeaseTeam, Rino worked as a Software Developer for Software Engineering Services in Bellevue, Neb. Terri Etherington has also joined the company as a Software Engineer. Terri brings 17 years experience in programming and management with Omni Hotels and has studied at Metropolitan Community College. LeAndra Collins has joined the Human Resources Department. LeAndra graduated from the University of Nebraska-Omaha with a Bachelor's Degree in Human Resources and Business Management. She worked in the hospitality industry at Holiday Inn Central as the HR Coordinator prior to joining LeaseTeam. Denise Gray has joined LeaseTeam as a Quality Assurance Analyst. Denise received her Bachelor's Degree in Accounting from UNO and is currently pursuing her Master's in Business Administration. Prior to joining LeaseTeam, Denise worked at InfoUSA as Controller in Corporate Services. Kathleen Robison has also accepted a position as a Quality Assurance Analyst for LeaseTeam. Kathleen holds an Associate's Degree in Computer Programming from Metropolitan Community College and a Bachelor's Degree in Management Information Systems from Bellevue University. Currently she is pursuing a Master's Degree in Global Management. Before joining LeaseTeam, Kathleen worked as a Quality Assurance Analyst for Kawasaki Manufacturing Company and has more than 10 year's experience in programming of accounting applications. Jennifer Peters has joined LeaseTeam as the Marketing Specialist. Jennifer received her Bachelor's Degree in Public Relations from UNO with an emphasis in Marketing. Most recently, Jennifer worked at Slosburg Company as a Marketing Specialist, and prior to that she worked at Goodwill Industries in the Marketing Department. Dave Boster has accepted a Software Engineer position at LeaseTeam, Inc. Prior to joining LeaseTeam, Dave worked as the Web Systems Managing Lead for the Omaha Public Schools for five years. He is currently pursuing his Bachelor's Degree in Computer Sciences at UNO. Val Astor has also joined LeaseTeam as a Software Engineer. Val received a Bachelor's Degree in Secondary Education at UNO. He worked at Omni Hotels for five years as a Programmer Analyst prior to joining LeaseTeam. Patrick Green has accepted the position of Technical Quality Assurance Analyst. Patrick has an Associate's Degree in Computer Programming Technology from Metropolitan Community College and is currently pursuing his Bachelor's Degree in Business Information Systems at Bellevue University. For six years before joining LeaseTeam, Patrick worked for West Corporation in various programming and technical support roles. Most recently he served as COS Information Services Analyst. Sheila Meink makes her return to LeaseTeam as a Client Services Account Manager. Sheila holds a Bachelor's Degree in Accounting from the University of South Dakota and is a Certified Management Accountant. Previously, Sheila worked for LeaseTeam for four years in accounting support and quality assurance. For the past three years she has done independent contract work in the areas of finance and software. LeaseTeam is also pleased to say that Technical Support Specialist Marty Timberlake has returned to his employment at the company after serving in support of Operation Iraqi Freedom for the past 12 months. While in Iraq, Timberlake served as a truck driver in the Army. "LeaseTeam continues to be the premier provider of lease and loan accounting software solutions, largely due to our outstanding team of employees," Randy Haug, LeaseTeam vice president said. "I'm very pleased with the quality of our newest hires. I couldn't ask for a better group to help guide LeaseTeam into the future." Shannon McKain has been promoted to Business Analyst. Shannon, who received her Bachelor's Degree in Accounting from UNO, previously worked as a Quality Assurance Analyst since 2003. In her new position Shannon will work closely with LeaseTeam product managers to evaluate product function and design. Dan O'Malley has recently been promoted to Programming Manager. Dan, who holds a Bachelor's Degree in Management Information Sciences from Miami University in Oxford, Ohio, has been with LeaseTeam for the past five years. Most recently, he served as Programming Team Lead for Lease Sales Manager, the company's front-end e-commerce software product. In his new capacity, Dan will manage the entire Programming department. "These promotions are well-deserved, and we're excited to have Dan and Shannon working in these new and expanded roles." Haug said. "The skills they've demonstrated in their previous roles have contributed significantly to our success, and I know they will continue to be a valuable resource for the company." LeaseTeam, Inc. is a privately held company incorporated in 1989 with headquarters based in Omaha, Neb. Key software products include Lease Sales Manager OneTM, LeasePlus OneTM, and a portfolio of reporting solution software. LeaseTeam products are the preferred software for hundreds of equipment leasing companies throughout the U.S. and Canada. For more information, visit our Web site at www.leaseteam.com or call 402.493.3445. ###Press Release############################
News Briefs---- Federal Reserve boosts key interest rate to highest level in more than four years http://www.signonsandiego.com/news/business/20051101-1123-fed-interestrates.html Inflation lifts new I Bond rate to 6.73% http://www.usatoday.com/money/perfi/general/2005-11-01-ibonds-usat_x.htm Big Drop in October for Detroit http://www.nytimes.com/2005/11/02/business/02auto.html Dell's Warning May Signal Change---Cuts 3rd Q Forecast http://www.internetnews.com/bus-news/article.php/3560841 Overheated housing market is cooling off Holiday fliers to find full planes, high fares Tax panel calls for lower rates, fewer deductions In Michelin's 1st Ratings of N.Y. Dining, Some Surprises ---------------------------------------------------------------
You May Have Missed TV Newsman Is His Own News in the Leak Case http://www.nytimes.com/2005/10/31/politics/31russert.html ---------------------------------------------------------------
Sports Briefs----
49ers acquire ex-Giants QB The best game seats -- and beyond Boston ----------------------------------------------------------------
"Gimme that Wine" Where the Rhone Bends to the West---NY Times Eric Asimov Chile's Fresh Faces California Wine grape bonanza for state's vineyards THE CHRONICLE'S WINE SELECTIONS: Mendocino County Pinot Noir ----------------------------------------------------------------
Today's Top Event in History 1862-Mary Todd Lincoln corresponded with her husband advising him of popular sentiment against cautious General in Chief of the Federal Army George B. McClellan. Contrary to popular belief, Mary Todd was a close confident and love of Lincoln's life. He was to let McClellan go in favor of U.S. Grant, which also led to McClellan running as the Democratic opponent against him for president. ( lower half: http://memory.loc.gov/ammem/today/nov02.html ----------------------------------------------------------------
This Day in American History 1734- birthday of Daniel Boone (Boon,) American frontiersman, explorer and militia officer, born at Berks County, near Reading, PA. He is credited with the exploration and growth of Kentucky, working for the Pennsylvania Company. February 1778, he was captured at Blue Licks, KY, by Shawnee Indians, under Chief Blackfish, who adopted Boone when he was inducted into the tribe as "Big Turtle." Boone escaped after five months, and in 1781 was captured briefly by the British. Depsite Walt Disney's version, he had no legal title to the lands he explored and he retired to Missouri. He experienced a series of personal and financial disasters during his life, but continued a rugged existence, hunting until his 80s. Boone died at St. Charles County, MO, Sept 26, 1820. The bodies of Daniel Boone and his wife, Rebecca, were moved to Frankfort, KY, in 1845. What made him popular in history was his autiobiography: " The Adventures of Colonel Daniel Boon ( that's the way he spelled his name,) formerly a hunter, containing a narrative of the Wars of Kentucky." ------------------------------------------------------------- American Football Poem The mountain and the squirrel Ralph Waldo Emerson |
|||||||||||||||||||
|
|||||||||||||||||||
 |
| 
