Tuesday, November 29,2005
Headlines--- Welcome New Readers ######## surrounding the article denotes it is a "press release"
Welcome New Readers
While most who read Leasing News go to the web site first, many still join our mailing list. Our goal is to print daily from Monday to Friday, but most often it is only three or four times a week, so when you are on the mailing list, you are informed that the new edition is available. We go to "press" when we think there is enough equipment leasing news to do so. Readers on our mailing list also get notices of major events from time to time. We welcome the new readers and hope you enjoy and find informative Leasing News. -------------------------------------------------------------- Classified Ads---Documentation Manager / Finance / Legal
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 -------------------------------------------------------------- Archives--2000, November 29 "SierraCities.com Announces Appointment of (Richard) Baccaro to Head Sales "UniCapital said it has established a $2.3 million retention program for certain key employees, after earlier announcing plans to terminate 245 employees>" "WASHINGTON--The U.S. economy appears to be slowing more suddenly than previously thought. The slowdown increases chances that the highflying economy's long-sought "soft landing" could turn hard, driving up unemployment and forcing the Federal Reserve to reverse course and slash interest rates. "Consumer confidence in November unexpectedly slid to its lowest level in more than a year, a respected business research group said Tuesday. Analysts, tracing the slide to the presidential election limbo and recent tumbles in the stock market, warned that it could result in weaker spending at the nation's malls, real estate offices and auto showrooms. Meanwhile, American businesses apparently are already pulling in their horns. A government report said orders for big-ticket manufactured goods--such as the telecommunications gear that companies have been snapping up to improve efficiency--fell an unexpectedly sharp 5.5% in October. "These are early warning signs the expansion may finally be coming to an end," said Edward E. Leamer, an economist and the director of the UCLA Anderson Business Forecast. "The Bush-Clinton expansion of the 1990s has lasted 38 quarters. I don't think it will make it to 42." "There have been signs of a slowdown for months, in no small part because the Fed jacked up interest rates six times between June 1999 and last May to put the brakes on the robust economy." http://two.leasingnews.org/archives/November/11-29-00.htm -------------------------------------------------------------- IFC Credit/PFF Bancorp NorVergence Lease Connection
PFF Bancorp, Inc. 350 S. Garey Avenue Pomona, CA 91766 "PFF Bancorp, Inc. is the holding company for PFF Bank & Trust, Glencrest Investment Advisors Inc., a Registered Investment Advisor, and Diversified Builder Services, Inc. The Bancorp (NYSE ticker symbol: PFB) enjoys the distinction of being the only parent company of an Inland Empire financial institution that is listed on the New York Stock Exchange." http://phx.corporate-ir.net/phoenix.zhtml?c=61353&p=irol-IRHome It may very well be that IFC Credit, Morton Grove, Illinois, is the largest third party lessor to hold NorVergence "Equipment Rental Agreements." Thus the delays in responding to the Federal Trade Commission and other actions, which may include information on the total dollar amount or actual processing of the leases. It is estimated that IFC Credit holds as much as $15 million in these NorVergence contracts. CIT Technology Services in offering settlements via the New York and New Jersey Attorneys General office said it involved $8.56 million. In New Jersey, Wells Fargo had $4.4 million and GE $3.5 million. Later GE Capital agreed to pardon approximately $9 million in payments from 660 small businesses and nonprofits in a dozen states. If these numbers are the top held by third party lessors, then IFC Credit may have purchased the most from NorVergence. Two very reliable sources informed Leasing News: "PFF gave them a 12-mm Line of which is all NorVergence paper." Another told us: " Rudy (Trebels) wanted to do more Norvergence. Ron Smith and Jennifer Klepper were telling them to slow down but they wanted more. I guess you reap what you sow. I also believe some of IFC's VC moneys went to Norvergence also." Leasing News communicated with the main leasing account executive for PFF Bank, who responded: "No comment." "Sources are not always correct." "IFC is handling all credit as agreed." In several e-mails, it was stated that IFC Credit President Rudy Trebels was aware that there was only one piece of equipment named in the lease contracts; this was brought to several people's attention in operations. One source says the yield was 25 percent with very good credits, which Rudy Trebels personally found too good to pass up. "It is sad to see IFC go through this. There are some talented people there: however, the greed of a three people is going to hurt many others," one insider told Leasing News. Leasing News has attempted to reach Rudy Trebels for a statement, confirmation or denial on information supplied to Leasing News from inside sources. -------------------------------------------------------------- Streamlined Sales Tax Update-Dennis Brown, ELA
-------------------------------------------------------------- Primarily Christmas Parties-All Invited Leasing Association Meetings Open to Non-Members
Come and celebrate the Holiday Season The event will be held at Gaylord India Restaurant (Formerly Valhalla Restaurant). Located at 201 Bridgeway Sausalito, CA A $30.00 cover includes appetizers and there is a cash bar. Date: Thursday December 1st , 2005 Time: 5:30-7:30 PM
Please bring a new toy, unwrapped, and in its original packaging, for the Marin County Toys for Tots program. The toys will be collected and donated at the end of the evening. Please RSVP to: John Haenselman Or Paul Knowlton ---------------------------------------------------------------------------
UAEL Northwest Holiday Party When: Where: What's Provided: What to Bring: Space is limited! Special Thanks to Our Sponsors*: ---------------------------------------------------------------------------
'Tis the Season ... Date: Thursday, December 8th 20 City Blvd West Details: Menu: Hors d'oeuvres, Dessert, No-Host Bar
Cost: $23.50 UAEL Member Price Reserve your ticket today by emailing Gina Iacono at giacono@westoverfinancial.com A special Thank You to our Event Sponsors: Event hosted by the UAEL Southern California Regional Committee ---------------------------------------------------------------------------
December 12, 2005 Eastern Association of Equipment Lessors Holiday Party 6:00 PM - 9:00PM Members $95, Nonmembers $125. To register call the EAEL office 212 809 1602. ---------------------------------------------------------------------------
3rd Annual Midwest Regional Holiday Party Cost: $62.00 (spouses and non-members welcome) Location: Reserve your ticket today by emailing Bill Griffith at Bgriffith@PadcoLease.com. All checks should be made payable to UAEL and remitted to Bill Griffith, Padco Lease Corp., 100 W. Monroe Street, Suite 706, Chicago, IL 60603-1901 to insure received no later than November 30, 2005. Menu: Hors d"oeuvres - Fruit & Cheese Platter, Mini Quiche, Poached Salmon with Cucumber Dill Sauce Roasted Roma Tomato with Basil Soup and Grilled Salad w/Vinaigrette Desert - Assorted Brownies and Cookies A special "Thank You" to this year's event sponsors: Law Offices of Swanson, Martin & Bell, LLP This year's event should be a truly memorable one. Ditka's is located on Chestnut just 1 block west of "The Magnificent Mile" shopping district (Michigan Avenue) and 1 block east of Chicago's famous "Rush Street" nightclubs, restaurants and shopping. This year we are also having a United States Marine Corp "Toys for Tots" drive. All attendees (1 per couple) are asked to bring a toy (unwrapped). I look forward to seeing everyone at Ditka's on December 15th. Sincerely, --------------------------------------------------------------
New List "Under Construction"-- "Broker/Lessor" In creating a new list, "Broker/Lessor," Leasing News realizes other changes need to be made. This may lead to two other groups, too. Here is the first "up-date:" Super "Broker/Lessor" List ( for "Funder," please click here There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list. For those who want to be listed on this form, please fill out Super "Broker/Lessors" Form A -Requires Broker be Licensed | B -Sub-Broker Program | C -Warehouse Line | D -Also a Funder
(A) BSB Leasing, Inc has been providing syndication services for brokers nationwide since 1982 and have been funding business directly since 2002 through BSB Direct Finance, LLC. We offer Brokers a complete internet solution for credit submission and tracking and document preparation. --------------------------------------------- These companies, perhaps numbering below 100, are the smallest group, considered the “elite,” as they exist because they have the knowledge and experience to know who and why another would be interested in a specific transaction. They also exist because they rarely consider business direct, but work on referrals from “broker/lessors,” funders, banks, financial groups, manufacturers, and others who cannot fit the transaction into their criteria. A leasing application may also come to them because they do not have the "volume" for the source the "super broker/lessor" may have; they may be "too new" in business to qualify for many sources: do not meet the minimum dollar required from the referral; they may be looking for a better rate than their regular sources, or the transaction was originated by another broker and they need to acknowledge that the transaction comes from another broker, called "sub broker," in the trade (most funders will not accept business from that has been “re-brokered.” .” As important, the sender may not have a regular source for the specific transaction they want to place, such as a young privately held company wanted the lease as “corporate only.” For whatever reason, they come to a "Super Broker/Lessor" to place the transaction on their behalf. In the question of sub-broker business, we take for granted that the “Super Broker/Lessor” not only has a written agreement with the sub-broker but informs the lessor when submitting an application it has come from a sub-broker. A violation of this will have the company removed from the list. In addition to the above qualifications, the "Super Broker/Lessor" must have a "clean" Better Business Bureau rating, no Leasing News Bulletin Board complaints or a poor record, and must belong to a national leasing association, as we view this that they are professional and abide by their association standards and code of ethics. We also will be verifying warehouse lines or "Funder" lines with their bankers (as done with those on the Story Credit List.) Leasing News reserves the right not to list any company it believes does not meet the qualifications as stated above. -------------------------------------------------------------- Classified Ads---Help Wanted Documentation Manager
These ads were designed by Maria-Martinez Wong. Let her construct and design your ad with the goal to keep your costs down. --------------------------------------------------------------- Cartoon---H.R. Hire
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Top Stories---November 21-25
These are the top ten stories most "opened" by readers last week. (1) Leasing firm in Fresno investigated EFG subject of lawsuits, fraud inquiry . http://www.leasingnews.org/archives/November%202005/11-21-05.htm#efg (2) IFC Credit "Letter to the Editor"... http://www.leasingnews.org/archives/November%202005/11-22-05.htm#ifc (3) ...but not to the FTC http://www.leasingnews.org/archives/November%202005/11-22-05.htm#ftc (the above was actually the second part to "Letter to the Editor") (4) Six Leasing Companies Wait for Pumpkin Pie http://www.leasingnews.org/archives/November%202005/11-23-05.htm#six (5) Merrill Lynch Capital announces Expansion of Business Aviation Financing in Foreign Markets http://www.leasingnews.org/archives/November%202005/11-23-05.htm#merrill (6) Loan/Lease Broker Statutes http://www.leasingnews.org/archives/November%202005/11-21-05.htm#loan (7) Wheeler Says, "Fresno Bee story erroneous!" http://www.leasingnews.org/archives/November%202005/11-22-05.htm#wheel (no other "on line" or "print" gave the other side of the story, plus a full version, quoting sources. Unfortunately it was not as well read as the accusation was the most read. editor) (8) Looking Ahead for Leasing in 2006--Ron Caruso http://www.leasingnews.org/archives/November%202005/11-21-05.htm#look (9) Rodi says, "LeaseNOW ---Mount Pleasant Capital" http://www.leasingnews.org/archives/November%202005/11-22-05.htm#leasenow (10) Sales Makes it Happen---"Focus on Results" http://www.leasingnews.org/archives/November%202005/11-23-05.htm#sales (This Wednesday feature had a higher rating, but was sent out to the mailing list to let them know that it originally was not listed in the "headlines" and therefore might have been missed. It was later corrected. Editor. ### Press Release ########################### White Clarke North America Appoints COO TORONTO, ON -- White Clarke North America (WCNA), a global leader in financing technology solutions, is pleased to announce that Jonathan Dodds has been appointed Chief Operating Officer. Dodds' wealth of experience in the automotive and asset finance sector will immediately contribute to WCNA's growth strategy. Working together with Debbie Carroll, CEO, Dodds will manage all operating aspects of this 60-person, rapidly-growing, profitable entity, including business development, product development and operations. "One area Jonathan will focus on is developing relationships with key customers and partners," says Debbie Carroll. "Jonathan's expertise in automotive and asset finance ideally represents the go forward direction for North America." Dodds brings nearly a decade of financial systems experience to WCNA. Most recently his leadership role in White Clarke Group's Volkswagen Financial Services initiative provided the strategic support necessary for the launch of their UK banking operations. Jonathan's operations expertise was well suited to the complexity of the initiative, where multiple IT work streams were required to launch the UK bank. Previously, Jonathan held senior management positions with retail banking and asset finance solutions providers for numerous mission critical implementations. "I'm excited to join White Clarke North America at this key juncture in its development," says Dodds. "I'm convinced that our world class technology and people deliver on our promise of business performance improvement. I look forward to delivering on that promise to our future customers." About White Clarke North America Inc. White Clarke North America sells consultancy services and component-based products and solutions to the asset finance, auto finance, credit union, banking and broader financial services markets. Our proven track record of business process improvements through appropriate, high quality, practical solutions deliver quantifiable business benefits and have made WCNA an industry leader in financial services process automation. For additional information visit www.whiteclarkenorthamerica.com or contact: Lisa Campbell - VP, Sales and Marketing, White Clarke North America Inc. 416-467-4060 lisa.campbell@na.whiteclarkegroup.com http://www.whiteclarkenorthamerica.com White Clarke North America Harmonizing people, process and technology. Creating business performance improvement. ### Press Release ########################### Resource America's LEAF Financial Corporation Names Daniel Courtney to Lead Investment Team PHILADELPHIA, PA.- Resource America Inc. (NASDAQ:REXI) announces today that its wholly owned subsidiary LEAF Financial Corporation has named Daniel Courtney as Senior Vice President of Investment Programs. Dan has more than 20 years experience in capital markets and was most recently a senior executive with ATEL Capital Group. Dan will head LEAF's efforts to offer its extensive selling group of Brokers Dealers nationwide competitive investment products in equipment leasing and commercial finance. He will be responsible for developing the fundraising strategy to support the company's growth model. Miles Herman, President and Chief Operating Officer stated, "We are excited to have a professional like Dan join our team and expect him to contribute immediately. His years of experience and industry knowledge will significantly enhance our effort and solidify LEAF's position as a leader in direct participation investment offerings." LEAF Financial Corporation is a commercial leasing company headquartered in Philadelphia, PA. LEAF's business model is to originate equipment leases by reaching the small to mid sized business market by forming strategic marketing alliances and other program relationships with equipment vendors, commercial banks and other financial institutions. After origination, LEAF manages the leases for its own account, institutions, and individual investors through investment partnerships and other investment vehicles. Resource America Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the equipment leasing, financial services and real estate industries. ### Press Release ########################### News Round-Up from ELFF--- Equipment Leasing and Finance Foundation Appoints New Trustees to Board Proving once again that the Foundation attracts industry leaders to its ranks, the Foundation has named Michael Brown, Robert Rinaldi and Richard Remiker to the Board of Trustees. "We're very excited to have such fine new members on the board," says Joe Lane, Chairman of the Foundation. "Attracting such high-quality member talent speaks to the strength of our Foundation and the promise of our vision. With their collective experience, industry knowledge and drive, they will provide valuable contributions to the stable, yet growing, equipment leasing and finance industry." Responsibility as a Trustee includes identifying specific research needs for the industry, working with industry leaders and consultants to frame future-focused reports and studies and raising funds to help continue the work on the Foundation. The Foundation Board of Trustees consists of 19 members from the leasing and finance industry. Brown, Rinaldi and Remiker join Board members: . John Beville, SunTrust Leasing Corporation Mike Brown, Executive Vice President, Group Head Of Diversified Industries, CIT Group Inc. is responsible for overseeing all sales, credit and service activities for equipment financing in North America. Mike Brown earned a Bachelor of Science in Business Administration from Kansas State University. Richard J. Remiker, Managing Director, Group Head, Merrill Lynch Capital -EF serves as Managing Director of the Equipment Finance Group of Merrill Lynch Capital. He is the past chair of the Equipment Leasing Association (ELA) Middle Market Business Council Steering Committee and is currently a member of the Board of Directors for The Leasing Exchange and a member of the ELA Large Ticket Business Council Steering Committee. Robert J. Rinaldi, Executive Vice President - National City Commercial Capital Corp. and President - National City Commercial Capital Canada Corp., has over 20 years of experience in the commercial equipment leasing industry and is actively involved in its Industry Future Council and Government Affairs Committee and LeasePac -ELA's political action committee. -----Long Time Industry Supporter, James Renner, Retires At the ELA Convention, the Foundation also got an opportunity to honor and recognize a long-time foundation supporter, James Renner, President of Wells Fargo Equipment Finance, Inc., who has announced his retirement this year. Foundation Chair Joe Lane honored Renner at the annual donor recognition session. "Jim's deep commitment to this industry and our Foundation is an inspiration and an example to us all," said Lane at the session. Renner has been active in ELA for the last 20 years, serving on ELA committees, as a director, vice chairman and, in 1999, as the association's chairman. He served as a trustee of the Equipment Leasing & Finance Foundation and was its chairman from 2002 to 2004. Last year, when Jim stepped off the Foundation Board, he continued to serve as our National Development Chairman. "When Jim takes on a job, he never does it half-way," said Lane. "During Jim's tenure, he helped double the level of individual and corporate donations! Everyone who [was] on [the convention] stage was here, in part, because of Jim's warmth, energy and dedication to improving our industry." Renner is now retiring his position with the Foundation, as well as his position with Wells Fargo. Lane added at the session, "He will be missed. We wish him the best of luck, and on behalf of the Foundation, and everyone here with me, I want to thank Jim for his tireless service to the equipment leasing industry." Sites of Reference: http://www.leasefoundation.org/about/ Donations Reach New Level At the ELA Convention Foundation Chair, Joe C. Lane said it best: "Donors are the backbone of the Foundation. It gives me great pleasure to be a member of such a fine Foundation and generous industry." That generosity manifested itself into more than $385,000, the sum raised during this past year's fundraising effort. "Yet again, our industry exceeds all our expectations," said Lane. Just a few years ago, the Foundation's goal was just $150,000. In 2005, the Foundation attracted 163 donors, with 23 first-time donors and more than 90 personal donations from individuals. As donations to the Foundation have grown, so have the Foundation's products. The organization is 100 percent donor supported, and most donors have told Forecast that they view their giving as an investment in the future of the industry. "With such fundraising success the Foundation is able to produce relevant, timely research at a record pace," added Lane. Sites of Reference: http://www.leasefoundation.org/donors/ CONTACT: Lisa A. Levine, CAE ### Press Release ########################### Capital Crossing Bank Announces Increase to Stock Repurchase Program (Dolphin Capital Corp is a subsidiary) BOSTON---Capital Crossing Bank (NASDAQ:CAPX) (the "Bank") announced that it has increased the amount of its common stock repurchase program by $5.0 million. As of November 28, 2005 the Bank now may repurchase up to approximately $7.8 million of its common stock in the open market or in privately negotiated transactions, subject to regulatory considerations, through November 25, 2006. This increase to the repurchase program has been approved by the Bank's Board of Directors and regulatory authorities. The Bank continues to repurchase shares of its common stock under its common stock repurchase program during the fourth quarter of 2005. As of November 28, 2005, the Bank had repurchased 6,932,283 shares under its current repurchase program and previous repurchase programs. Capital Crossing Bank is a Massachusetts-chartered, FDIC-insured trust company with $1.1 billion in assets as of September 30, 2005. The Bank operates as a commercial bank, providing financial products and services to customers through its executive and main offices in Boston, its website at www.capitalcrossing.com, and through its leasing subsidiary Dolphin Capital Corp. located in Moberly, Missouri. The Bank is a value oriented investor in whole loans and loan portfolios generally secured by commercial, multi-family and one-to-four family residential real estate and other business assets. Capital Crossing Bank Chairman and Co-Chief Executive Officer Nicholas W. Lazares, 617-880-1000 or President and Co-Chief Executive Officer Richard Wayne, 617-880-1000 ### Press Release ########################### By 2010, Leasing is Expected to Account for 49% of European Company Car Purchases DUBLIN, Ireland------Research and Markets (http://www.researchandmarkets.com/reports/c28495) has announced the addition of European Fleet Markets Presentation 2005 to their offering. As Europe recovers from a slowing economy over the last few years, several markets are now showing signs of growth. With company car markets relatively static, operational leasing has continued its growth trajectory. This report focuses on the trends within the European company car markets, highlighting market forecasts, acquisition methods and the key players driving the market. Scope -- Sizes the company car market and main financing methods used within the market in the leading 7 European countries. -- Highlights the key players within the main 7 European markets in terms of total fleet size and operational leasing fleet size. Highlights Operational leasing growth is slowing in several of the large Western European markets due to a high level of maturity within the company car fleet. Key notable exceptions to this trend are Italy and Spain where the relative infancy of the product is helping it grow. Customer acquisition in the operational leasing market has become more expensive as competition levels have increased. This has forced margins down and players have chosen to exit the market; this has resulted in the emergence of an elite group of European players which are expected to increase their hold over the market in the next few years. By 2010, leasing is expected to account for 49% of European company car purchases, growing by 3% over the next five years. This combined with the growing trend in outsourcing non-core operations will provide will provide an opportunity for fleet management companies to package more services with the leasing product. Reasons to Purchase -- Understand the key trends in the European fleet market to enable more effective planning in terms of products and markets. -- Benchmark yourself against your competitors to assess your development across all the leading markets in the European fleet industry. -- Gain an insight into the key issues that will impact the fleet market, both today and in the future. For more information visit Research and Markets Laura Wood press@researchandmarkets.com Fax: +353 1 4100 980 ### Press Release ########################### Synovus Terminates `Poison Pill' COLUMBUS, Ga.---Synovus announced today that its Board of Directors has voted to terminate the company's shareholder rights plan, commonly known as a "poison pill." The plan has been amended to provide that the existing rights plan will expire on December 31, 2005. Prior to the amendment, the rights plan had been scheduled to expire on May 5, 2009. "The termination of the rights plan at the end of this year is consistent with our commitment to sound corporate governance practices and provides the Board with the ability to act in the best interests of our shareholders," Synovus' Chief Executive Officer and President Richard E. Anthony said today. Synovus (NYSE:SNV) is a diversified financial services holding company with over $27 billion in assets based in Columbus, Georgia. Synovus provides integrated financial services including banking, financial management, insurance, mortgage and leasing services through 39 banks and other Synovus offices in Georgia, Alabama, South Carolina, Florida and Tennessee; and electronic payment processing through an 81-percent stake in TSYS (NYSE:TSS), one of the world's largest companies for outsourced payment services. Synovus has been named one of "The 100 Best Companies to Work For" in America by FORTUNE magazine, and has been recognized in its Hall of Fame for consecutive appearances on the list since its inception in 1998. In 2005, Synovus was also named as one of "America's Most Admired Companies." See Synovus on the Web at www.synovus.com. Synovus, Columbus Investor Relations Patrick A. Reynolds, 706/649-4973 or Corporate Communications Alison W. Dowe, 706/641-3781 ### Press Release ########################### ELA: The State of the Industry Reports... While economists expect the economy to expand through at least 2006, the leasing industry continues to confront a number of challenging issues while it seeks new opportunities for growth. From our analysis of Equipment Leasing Association's Survey of Industry Activity (the Survey) and our discussions with industry leaders, a number of key messages emerge: .New business volume improved in 2004 and continued to improve through 2005. Despite another sharp drop in large-ticket volume, Survey respondents reported an 11.7 percent increase in new business volume in 2004. .Capital appears plentiful. Financing by venture and private equity firms, combined with a renewed expansion of the capital markets and an apparent increase in banks' willingness to lend to the industry has contributed to the abundance of low-cost capital. However, in many lessors' view, there is still too much capital chasing too few deals. In turn, this excess of capital is contributing to the industry's pricing pressures. .Margin compression worsened. Due to intense competition and an overabundance of capital in the market, lessors have been unable to increase pricing enough to compensate for their increased cost of funds. As a result, pre-tax spreads declined and, although net income increased, Return on Equity (ROE) declined from 2003 and Return on Assets (ROA) remained unchanged. Some lessors, however, have identified niche markets that allow them to increase pricing and improve profitability. .In all likelihood, the large-ticket market segment is permanently changed. The impact of recent legislative, regulatory, and accounting changes, coupled with the impact of Basel II, have permanently reduced or eliminated many crossborder and leveraged lease transactions. However, opportunities continue in the largeticket segment. There remains a need for largeticket equipment and the capital to finance it. In the near-term, however, many large-ticket categories, such as aircraft and marine, remain slow. .The competitive environment continues to change. Although Banks reported only a small increase in new business volume and lost market share to Independents, this was likely due to the decline in large ticket volume experienced by a small number of the largest Banks. It is expected that banks will continue their emphasis on leasing, aligning their leasing units more closely with the commercial bank. Bank lessors will continue to increase their focus on existing customers and will increasingly work to develop banking relationships with non-bank customers. Independent, Financial Services firms (Independents) reported significant improvement over previous years. New business volume increased sharply and lessors enjoyed adequate and more cost-effective funding. Captives appear to be continuing to increase their focus on financing their parent's products. Read more about the current state of the equipment lease financing industry and trends for 2006. The 2005 State of the Industry Report is available: The State of the Industry report is published by the Equipment Leasing & Finance Foundation and sponsored by Accenture and SAP. The State of the Industry webinar is on December 1, 2005 visit: www.krm.com/ela to register. ### Press Release ###########################
News Briefs---- Immelt's GE Sees $3B Q4 Loss, Inks $500M Qatar Deal http://www.forbes.com/2005/11/28/ge-qatar-insurance-cx_gl_1128autofacescan05_print.html HSBC Announces a Changing of the Guard http://www.nytimes.com/2005/11/29/business/worldbusiness/29bank.html?pagewanted=all Cyber shopping for holidays takes off http://www.usatoday.com/money/industries/technology/2005-11-28-cyber-monday-sales_x.htm Sales of existing homes fall in latest sign housing market is cooling http://www.signonsandiego.com/news/business/20051128-1447-economy.html Gold above $500 in Asia, platinum $1,000 American Airlines plans curbside check-in fee http://www.dallasnews.com/business/ Comeback Hard for New Orleans' Restaurants ---------------------------------------------------------------
You May Have Missed Ten Commandments of restaurant behavior http://seattletimes.nwsource.com/html/foodwine/2002640372_taste23.html ---------------------------------------------------------------
Sports Briefs---- Lions finally cut Mariucci loose http://msn.foxsports.com/nfl/story/5117306 Detroit Lions Web site announcement http://www.detroitlions.com/press_releases.cfm?section_id=10&top=1&level=2 Mariucci Biography still on Detroit Lions Web Site January 15,2003 Fired as Head Coach S.F. 49ers http://www.sfgate.com/cgi-bin/article.cgi?file=/gate/archive/2003/01/15/mooch.DTL ----------------------------------------------------------------
"Gimme that Wine" Help for Those Burned in Bay Area Wine Storage Scandals http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY= If you want to know if you got a value for your wine, or what the wine price is today, go to www.winezap.com Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1998 Viader ----------------------------------------------------------------
Today's Top Event in History 1953-The first transcontinental nonstop two-way airplane service by American Airlines, using Douglas DC-7 th , between International Airport, Los Angeles, Ca., and Idlewild International Airport, New York City, a distance of 2,540 miles. The eastbound flight was scheduled for 7 hours 15 minutes and the westbound flight for 7 hours 35 minutes. It would not be until 1959 for the first four-engine American Airlines Boeing 707 to take 112 passengers and eight member crew, 4 hours, 3 minutes, 3 seconds to make the flight. The plane was piloted by Captain Charles Macatee of Huntington, NY. The fare was $158.83 one way plus tax and $301.90 round trip plus tax. On December 28, 1961 American Airlines was the first to carry 100 million passengers. ----------------------------------------------------------------
This Day in American History 1644-- The Massachusetts General Court issued a call for local pastors to learn the dialects of neighboring Indian tribes, as an aid toward converting them to the Christian faith. TALLAHASSEE, FL-- A third recount by Florida election officials has "definitively determined" that Green Party candidate Ralph Nader was defeated. "There was a very significant 25,603-vote discrepancy between the first two counts, with Nader losing by respective margins of 2,812,339 & 2,837,942, so we decided to conduct hand recount," Florida Attorney General Jim Smith recounted. "We now know that Nader lost by precisely 2,821,278 votes." Nations goes nuts about Florida vote and its affect on the presidential election. ------------------------------------------------------------- American Football Poem
The Quarterback He bends down *Inspired by Allan James Saywell Adam Caldwell
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