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Vehicle Lenders Group, LLC is looking for dynamic sales associate. Either work out of one of our offices in Calif. , Dayton, or Oyster Bay, NY or your own office.
Draw w/benefits after three month probation period.
Must have excellent references, honest, self motivated, able to generate $500,000 a month by the end
of 12 months of employment.
Curt Webster, CVLE 516-922-7447 ext 104

Wednesday, October 27, 2010

Today's Equipment Leasing Headlines

  Classified Ads---Asset Management
Official! “Fin Pac” Acquired by Flexpoint Ford
 Direct Capital Now 100% Employee Owned
  Allied Health Care Services 123 pages of Creditors
   Equipment Acquisitions Resources BK Up-Date
    Big Jump in Leasing Business from August to September
     Classified Ads---Help Wanted
IFC Credit Corporation BK—Up-date
 ELFA Boca Raton Conference Report
  by Shawn Halladay, the Alta Group
   New ELFA Officers, Directors elected for 2011
    AZELA Fall Meeting
 NAELB Broker Exchange Grows to 18
  NEFA Names Tara Aasand 2010 Member of the Year
   CIT Reports Third Quarter Net Income $131 Million
    Maxim Commercial Capital Completes Credit Facility
     Puget Sound, Washington --Adopt-a-Dog
News Briefs---
 Lease agreement reform: true state balance sheet
  Interview: Air Lease CEO Steve Udvar-Hazy
   Restaurant stocks are on a roll as chains recover nicely
    Ellison vows evidence will implicate HP's new CEO
     Californians cut spending, permanent behavioral shift
       Audrina Patridge eliminated Dancing with the Stars

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

   You May have Missed---
    California Nuts Brief---
     Sports Briefs---
      "Gimme that Wine"
    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” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.


Classified Ads---Asset Management

Haverhill, MA
Started in credit and collections 30 years ago with a private agency. My skills are negotiating with Attorney's, Insurance Companies & Large & small companies. | Resume

Minneapolis, MN
16 years leasing experience from micro to large ticket market, variety of equipment. Most recently calling on vendor telecom dealers in Upper Midwest.

Santa Barbara CA (will relocate)
Experienced Asset Manager of various portfolio's for a bank, broker and leasing company. Utilized specialized remarketing companies to maximize collateral values. Worked remote two years. | Resume

| Reference 1 | Reference 2


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

Official!!! Financial Pacific Leasing Acquired by Flexpoint Ford

Chicago, IL, - Flexpoint Ford, LLC, a private equity firm dedicated to the financial services and healthcare sectors, announced today that it has acquired a majority interest in Financial Pacific Leasing, LLC from Ares Capital Corporation. Financial Pacific is a specialized commercial finance company focused on providing leases for essential business equipment to small businesses nationwide.

In conjunction with the closing of the acquisition, Financial Pacific has extended and increased its syndicated credit facility, led by Bank of America, from $155 million to $192 million. The company has also renewed its existing $100 million structured warehouse facility with WestLB.

Chris Ackerman, Principal of Flexpoint Ford

“Financial Pacific has an excellent history of success as a niche lessor in the specialty finance industry, and we are excited by the opportunity to partner with the company’s experienced management team”, said Chris Ackerman, Principal of Flexpoint Ford.

“The company’s excellent underwriting and servicing platform, combined with its nationwide origination network, makes Financial Pacific a unique platform investment in the small business credit marketplace.”

Paul Menzel, CLP, President/CEO Financial Pacific

“It is a great feeling to bring together the proven business model of Financial Pacific with the capital and expertise of Flexpoint Ford, along with the support and confidence of our lenders”, said Paul Menzel, CLP, President and CEO of Financial Pacific.

“We are looking forward to leveraging the expertise of Flexpoint Ford in the financial services and risk management industries to capture the exciting market opportunity in front of Financial Pacific today. We are better positioned than at any time in our history to be able to provide critical access to capital for equipment acquisition by small businesses in the United States through our network of third party origination partners, together with their equipment vendors.”

About Financial Pacific Leasing
Financial Pacific Leasing is a specialty finance lender headquartered in Federal Way, Washington. The company has been an important source of capital for small businesses throughout the United States for over 35 years. Financial Pacific’s programs support long term, third party originators in meeting the equipment acquisition needs of their clients. The VendorFlex program helps equipment vendors approve more of their customers and optimize sales opportunities. For more information about Financial Pacific, please visit

About Flexpoint Ford
Flexpoint Ford, LLC is a private equity firm dedicated to the financial services and healthcare sectors. Flexpoint Ford seeks to build relationships with executives and companies who look for Flexpoint Ford to be a value-added partner. Flexpoint Ford currently has $1 billion in committed capital and aims to invest $10 to $100 million of equity in each opportunity. For more information about Flexpoint Ford, please visit

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

Leasing News story: Financial Pacific is Sold!


Direct Capital Now 100% Employee Owned

"Good morning Kit. It’s true, DCC has no relationship with Allied/Ares Capital as the management team led a buyout of Allied’s interest in the company a couple months ago. We bought back all the ownership of Allied and now we’re 100% employee owned.

"Our business is strong and in growth mode---sales are up over 60% from last year."

Chris Broom
Direct Capital Corporation
155 Commerce Way | Portsmouth, NH 03801

Original Announcement:


Allied Health Care Services 123 pages of Creditors

In the alleged $87 million fraud by Charles K. Schwartz regarding respirators for his company, Allied Health Care Services, Orange, New Jersey, the bankruptcy filing shows a list of 123 pages of creditors claiming $40,491,000. (1) Many of the amounts by the creditors are not given, and most likely the dollar amount will be considerably higher, perhaps as high as the FBI estimates of $87 million.

The list looks like no one was overlooked in being a creditor to Allied Health Care Services. Unfortunately not only does it appear that every company a member of every leasing and finance association is mentioned, but as well as many small and regional banks from around the country that also have claims. There are 123 pages (2) (3). The mailing list with addresses is 109 pages (4)

The list of items for sale is not very large or indicative of what was claimed on the balance sheet. An ex-employee stated there were about 50 patients and perhaps 100 respirators.

AtHome is servicing them, or perhaps has replaced some of them.

“Notice of Information for Public Auction re: 11-30-10 date: 2003 GMC Savanna cargo van, 2008 GMC Savanna cargo van, 2009 GMC Savanna cargo van, 2007 GMC Savanna cargo van, 2008 Buick Enclave 4 door SUV, 2006 GMC Savanna cargo van, 2004 GMC Yukon 4 door SUV, 2001 GMC Yukon Denali 4 door SUV, 2007 Pontiac Torrent 4 door SUV, 2007 GMC Savanna cargo van, 2008 Pontiac Torrent 4 door SUV; 12-1-10 date: miscellaneous office furniture and equipment, inventory consisting of life care/Respironics ventilators, wheelchairs and other healthcare equipment and supplies; 12-7-10 date: miscellaneous healthcare equipment and supplies. filed by Richard Honig on behalf of Eric R. Perkins. Hearing date if Objection filed: 11/22/10 @ 10:00 a.m. Objections due by 11/15/2010.” (5)

There is not $87 million in respirators in the equipment to be auctioned. Charles K. Schwartz on his personal financial statement to Sun National Bank valued Allied Health Care Services as worth $16,990,584. (6)

Allied Auction

(1) Allied creditor claims

(2) Allied creditors, part 1, 63 page list

(3) Allied creditors, part 2, 60 page list

(4) Allied Creditors mailing list, 109 pages

(5) Allied Auction


Previous Stories:

((Please Click on Bulletin Board to learn more information))
(Leasing News provides this ad “gratis” as a mean)


Equipment Acquisitions Resources BK Up-Date

($900,000 cash)

Readers ask what is going on with the Equipment Acquisitions Resources, Palatine, Illinois and has ex-convict Sheldon Player been arrested by the Federal Bureau of Investigation. At this date, the bankruptcy hearing is scheduled for 3/29/2011 at 10:00 AM at 219 South Dearborn, Courtroom 680, Chicago, Illinois 60604.

There is much going on with complaints by the trustee filed against Harrah's Entertainment, Luxor Hotel, Wynn Las Vegas, as Sheldon Player is a gambler, playing at this clubs, and as reported by a previous story was intercepted at a Colorado airport with a duffle bag of $900,000 in cash that he claimed he won while playing at the clubs in Las Vegas, Nevada. (1)

Most likely the FBI continues to build its case, also waiting for the BK trustee to finish his role in asset recovery, as well as most likely trying to get an insider to turn evidence for a reduced sentence, such as Mark Anstett, former president of E.A.R.

(1) Sheldon Player Caught w/$900,000 Cash in Duffle Bag

Previous E.A.R. Stories:


Leasing Industry Help Wanted

Vehicle Lenders Group, LLC is looking for dynamic sales associate. Either work out of one of our offices in Calif. , Dayton, or Oyster Bay, NY or your own office.
Draw w/benefits after three month probation period.
Must have excellent references, honest, self motivated, able to generate $500,000 a month by the end
of 12 months of employment.
Curt Webster, CVLE 516-922-7447 ext 104


Please see our Job Wanted section for possible new employees.


Big Jump in Leasing Business from August to September


The Equipment Leasing and Finance Association (ELFA) Monthly Leasing and Finance Index shows new business volume is up 34.8% from August to September, 2010: $4.3 billion to $5.8 billion. September also brings a rise in the third quarter to $5.2 billion which matches the 3rd quarter of 2009.

It appears August has been a soft month $3.7 billion in 2009. September, 2010 is certainly higher than the September of 2009 which was $4.7 billion.

What do these new numbers mean? According to the ELFA press release:

“The new business volume increase is indicative of a positive business outlook,” said Steve Grosso, President, and Chief Operating Officer, CoActiv Capital Partners, Inc. located in Horsham, Pennsylvania.

“While it’s not time to claim we are in a robust environment, clearly businesses are starting to invest in capital equipment. In many cases, we see older equipment that is worn out being replaced, or newer technologies being installed. We haven’t seen great large-scale expansion. The technology sector and healthcare seem to be strong versus infrastructure and manufacturing which still remain flat.”

The ELFA press release further states:

"The percentage of credit approvals decreased to 72 percent in September, a percentage point down from August credit approvals, which matched the highest approval ratio since September 2008. Fifty-six percent of participating organizations reported submitting more transactions for approval during the month. Finally, total headcount for equipment finance companies was flat during from August to September. Year-over-year employment is down almost five percent. Supplemental data shows that construction and trucking assets lead the underperforming sectors. "

Here are the charts from the ELFA Press release:

MLFI-25 New Business Volume (Year Over Year Comparison)

click image to make larger

Aging of Receivables:

click to make larger

Average Losses (Charge-offs) as a % of net receivables (Year Over Year Comparison)

click image to make larger

Credit Approval Ratios As % of all Decisions Submitted (Year Over Year Comparison)

click image to make larger

Total Number of Employees(Year Over Year Comparison)

click image to make larger 

ELFA MLFI-25 Participants

ADP Credit Corporation
Bancorp South Equipment Finance
Bank of America
Bank of the West
Canon Financial Services
Caterpillar Financial Services Corporation
De Lage Landen Financial Services
Dell Financial Services
EverBank Commercial Finance
Fifth Third Bank
First American Equipment Finance
Hitachi Credit America
HP Financial Services
John Deere Credit Corporation
Key Equipment Finance
M&I Equipment Finance
Marlin Leasing Corporation
National City Commercial Corp.
RBS Asset Finance
Regions Equipment Finance
Siemens Financial Services
Stearns Bank
Susquehanna Commercial Finance, Inc.
US Bancorp
Verizon Capital Corp
Volvo Financial Services
Wells Fargo Equipment Finance

Previous Monthly reports


IFC Credit Corporation BK—Update


Hearings and motions continue in the IFC Credit Corporation, Morton Grove, Illinois bankruptcy, with funding through February 11, 2011, so it is easy to see this will continue through next year, too.

The case against Rudy Trebels, as an individual, continues by C0-Active Co-Active Capital Partners, where Steve Grosso President and COO is attending the ELFA Conference (he was quoted above.)
(no, Mr. Trebels is not listed as attending the conference, although his company was accepted as a member.)

"1. In the present matter, IFC and IFCI, through Trebels and Langs, did not merely breach a contract by failing to remit to CoActiv the funds owed under the lease agreements. To the contrary, they also fraudulently concealed the termination of leases and wrongfully withheld the proceeds from those lease terminations. Further, Defendants used those proceeds to enrich themselves, stabilize the positions of Langs and Trebels within IFC, and to misrepresent and falsely inflate the financial condition of IFC and IFCI."

Previous IFC Credit Stories


ELFA Boca Raton Conference Report
by Shawn Halladay, the Alta Group

ELFA 50th Anniversary Logo

The 49th edition of the Equipment Leasing and Finance Association (ELFA) Annual Convention in Boca Raton, Florida kicked off Sunday night with the traditional reception. While the mood was not necessarily ebullient, it definitely was upbeat. Many wondered whether the lightened mood over last year’s event was due to better economic conditions, or the fact that there was no hurricane in the near future (those with longer memories will recall Wilma, the Class 4 hurricane that roared through Boca Raton the last time ELFA held its convention here.)

After spending all day Monday on the convention floor, however, I would have to say that the higher spirits were due to more confidence in the future, rather than the lack of a hurricane. It seemed that exhibitor numbers were up and comments indicated that, although there is concern around the continued uncertainty of the economy, lessors are gaining optimism about the future. In spite of the fact that things are looking better, however, many still expect the going to be slow in the near term.

Of course, one of the biggest topics on everyone’s mind is the impending changes to the lease accounting rules. Opinions are divided as to their impact, however, with some crying gloom and doom while others are gearing up for what they see as opportunities. There are several rumors swirling around in this regard, one of which is that the changes will be pushed further out into the future. Another rumor posits that the lessor rules as proposed will not stand. Attendees will get a better idea of what the changes will mean during several Tuesday sessions, although time will only tell as to what actually happens

Attendance at the breakout sessions also was reflective of the lightened mood, as many chose to attend one or more sessions rather than desperately scrambling for business in the hallways. This is not to say that there were not the normal business opportunities that the convention always provides, as networking was going strong. You definitely can tell that there are more people here than last year, though, with ELFA reporting close to 850 attendees, up 40% over last year.

The Equipment Leasing and Finance Foundation also unveiled its report on the state of the industry during its luncheon and awards presentation. Other studies presented today included a report on the lease accounting changes and one on social media. A question and answer panel led by former chair Joe Lane added insights to the compiled data. The day finished strong for everyone with several invitation-only cocktail receptions and more intimate client/relationship dinners.

The clock struck ten, the music stopped, the bar was shuttered, and like that, it was over. Although a Boca Raton noise ordinance put a quick end to the ELFA closing reception, not everyone wanted to retire for the evening, however, as the optimism of the past several days carried all the way through the convention. Woody Sutton, the new ELFA President, put it well stating that, “attendance is strong, the sessions well-attended, and there is a buzz of confidence in the air.” Based on my experience here, I would have to agree.

This confidence has been buoyed not only by increased margins and volumes, but also by a slight loosening of the credit markets. While it is true that advance rates and terms have changed, lines are becoming more available and securitizations more acceptable as investors move from away from some of the real estate investment options. The changing times also were reflected in the introduction of the new ELFA leadership, as David Merrill of Fifth Third Leasing steps into the chairman’s role and Crit DeMent becomes Chairman-Elect.

Other positive indicators observed at the hallways included plans by several lessors to better define their market activity, focus more on specialty niches, and seek out ways to differentiate their products. Not all was rosy, however, as the potential impact of the accounting changes remained front and center in the form of two separate breakout sessions. There was an evident level of frustration with the proposed rules, however, and not just because of their ramifications. On a more fundamental level, lessors are struggling to understand the reasons behind being forced to change how they account for their leases, as no one sees the new rules as either fixing something that is broken or improving the current system.

All in all, though, this year’s convention represented a definite turnaround from the past several years, which bodes well for the industry. Yes, there are challenges, especially in the form of new regulatory and accounting requirements, but the equipment leasing and financing industry now appears to be taking the offensive and moving the business forward, rather that taking a defensive stance – and that is a good sign.

Shawn Halladay

About Mr. Halladay:


New ELFA Officers, Directors elected for 2011

David Merrill

David A. Merrill, President, Fifth Third Leasing was elected Chairman with Crit DeMent, Chairman and CEO of LEAF Financial, was named Chairman-elect of the Equipment Leasing and Finance Association 2011 Board of Directors.

Crit DeMent

Merrill is a long-standing member of ELFA. He previously served on the ELFA’s Board of Directors and as Treasurer, Chair of the Funding Exhibition and Chair of the Capital Access Committee.

The new members of the ELFA Board of Directors include:

Tom Askounis, President/Shareholder, Askounis & Darcy, P.C.

Stan Herkelman, President, GreatAmerica Leasing Corporation

Fred Sasser, President, Chicago Freight Car Leasing Co.

Jud Snyder, President, M&I Equipment Finance

Elected to serve as ELFA Vice-Chairs:

Rick Remiker, President, Huntington Equipment Finance

Adam D. Warner, President, Key Equipment Finance

Robert J. Rinaldi, Executive Vice President, CSI Leasing,

Thomas M. Jaschik, President, BB&T Equipment Finance, continues to serve as treasurer.

Kenneth R. Collins, Jr., Chairman and CEO, Susquehanna Commercial Finance, Inc.,
is immediate past chair.

In addition to Askounis, Herkelman, Sasser and Snyder, the following are also members of the ELFA Board of Directors:

Kent Adams, President, Caterpillar Financial Services Corporation
Justin Cooper, President, CHP Consulting
Anthony Cracchiolo, President, U.S. Bank Equipment Finance
Steve A. Grosso, President and CEO, CoActiv Capital Partners
John W. Heist, Jr., President, The H eist Group
Lauren Hill, Senior Vice President, Mesirow Financial Consulting
Harry J. Kaplun, President, Frost Leasing
Anthony Pacchiano, Vice President & General Manager, ADP Credit
Richard L. Ross, President, Summit Funding Group
David T. Schaefer, CLP, Managing Member, Orion First Financial
Larry A. Smilie, Managing Director, Banc of America Leasing
Kris A. Snow, President, Cisco Systems Capital
William F. Stephenson, Global Chief Commercial Officer, De Lage Landen Financial Services
Louis J. Vigliotti, Senior Managing Director, GE Capital Markets Group
Derek C. Wilkins, Vice President, Global Lease Operations, Steelcase Financial Services


AZELA Fall Meeting

The Arizona Equipment Leasing Association had its fall meeting with 10 in attendance at Coco's Bakery and Restaurant. After a lively commentary of the current state of the finance business by each attendees, the program followed that could positively add to the broker's individual cash flow streams.

Ray St. Clair, V.P. U.S. Bank S.B.A. Division discussed the current lending criteria for S.B.A., changes that went into effect in October, and those that may occur at year end. An overview of the various programs was also given and information how to potentially use them for our clients.

Bernice Truszkowski





NAELB Broker Exchange Grows to 18

According to a National Association of Equipment Leasing Brokers spokesperson, "There are 18 unique brokerages listed on the exchange, however many of them cover several or all the states in terms of areas their funders will service."

The listing are geographical where NAELB brokers have indicated that they have discovered special funding sources, perhaps not known to others or available to others. These brokers may be able to help other NAELB brokers secure funding. They may charge a fee for their services. The advantage, and purpose, is to help both new and experienced brokers with transactions as they have specific sources they believe would have a better chance of approval as they are not “cookie cutters.” Also what in reality comes with experience is knowing who takes what and why and placing them in these sources that they have cultivated.

It is only available to NAELB members and they do not plan to open to non-members.





NEFA Names Tara Aasand 2010 Member of the Year

The National Equipment Finance Association (NEFA) recently named Board member Tara Aasand of Great American Insurance Group the 2010 NEFA Member of the Year.

Her involvement with the NEFA began in 2004, when she volunteered to be a member of the Regional Committee of the United Association of Equipment Leasing (UAEL). In addition to her Board position, she currently serves as co-chair of the NEFA Regional Committee, where she is responsible for focusing the committee's efforts on organizing regional and local meetings for networking, socializing and educating NEFA members. She has also been instrumental in ensuring the content on the NEFA Web site is up-to-date and highlights the various initiatives of the association.

Randy Haug, Sr. Vice-President/Partner, LeaseTeam, Inc.,
Omaha, Nebraska

"I think I speak on behalf of the entire NEFA Board of Directors when I say that Tara has been an outstanding addition to the Board, and we greatly appreciate her dedication and service to the NEFA," says NEFA President Randy Haug of LeaseTeam, Inc. "Tara truly embodies our purpose, core values and mission and is a model NEFA volunteer. We are certainly grateful for the support that both Tara and Great American Insurance Group consistently give our organization."


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

CIT Reports Third Quarter 2010 Net Income of $131 Million

NEW YORK----CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, reported net income for the quarter ended September 30, 2010 of $131.5 million, $0.66 per diluted share. CIT also announced that, after a review of fresh start accounting (“FSA”) balances and processes, it has revised its first and second quarter results higher. As a result, second quarter net income was revised from $142.1 million ($0.71 per diluted share) to $171.4 million ($0.85 per diluted share), while first quarter net income was revised from $97.3 million ($0.49 per diluted share) to $115.4 million ($0.58 per diluted share). Additional details on the revisions are provided in the “Prior Period Revisions” section and tables that follow. All comparisons to prior 2010 quarters are to the revised results.

John A. Thain, Chairman/CEO

“Our balance sheet remains strong and capital ratios rose, as we paid down high-cost debt, further optimized our portfolio and improved our funding flexibility. Our increased business volume provided much needed credit to the small business and middle market companies that remain the backbone of the U.S. economy.”

“We continued to make steady progress advancing our key priorities in order to increase shareholder value,” said John A. Thain, Chairman and Chief Executive Officer. “Our balance sheet remains strong and capital ratios rose, as we paid down high-cost debt, further optimized our portfolio and improved our funding flexibility. Our increased business volume provided much needed credit to the small business and middle market companies that remain the backbone of the U.S. economy.”

Summary of Financial Results

Third quarter results reflect increased business activity as funded volume exceeded $1 billion, with increases in three of our four commercial businesses. In addition, credit metrics showed signs of stabilization, and we made continued progress optimizing the portfolio and reducing our funding costs. Net income decreased sequentially as lower interest expense, provision for credit losses and operating expenses were offset by a decline in interest income and fewer recoveries on assets charged-off prior to 2010. In aggregate, pre-tax benefits from FSA-related items of $266 million were down approximately $150 million from the second quarter, primarily due to lower asset levels, slower customer prepayments and the repayment of high cost debt.

Net finance revenue1 (which includes operating lease rentals and depreciation) decreased $110 million from the second quarter as the revenue impact of a $2.7 billion contraction in average earning assets more than offset the interest savings from reducing high-cost debt. Net operating lease revenues were essentially flat. As a percentage of average earning assets, net finance revenue in the third quarter was 3.28%, down from 4.12% in the second quarter, and included a 2.62% benefit from FSA. Excluding FSA and the effect of prepayment penalties on high-cost debt in both quarters, margin was 0.92%, up 23 basis points from the second quarter, as the reduction in funding costs was partially offset by the lower asset yields that resulted from a change in the composition of interest-earning assets and lower yield-related fees.

Other income (excluding operating lease rentals) decreased from the second quarter primarily due to lower recoveries on receivables charged-off prior to the adoption of FSA. Results also reflect slightly higher factoring commissions on seasonal volume build.

Operating expenses decreased from the second quarter reflecting lower employee retention plan and benefit costs. Headcount declined 5% from June 30, 2010 to approximately 3,800. We recorded $6 million of restructuring charges in the third quarter for facility consolidation and severance costs. Improving operating efficiencies and lowering expense levels remains a priority

The 31% year-to-date effective tax rate results from taxes in international operations and valuation allowances recorded against U.S. losses.

Total assets at September 30, 2010 were $53.0 billion, down $2.0 billion from June 30, 2010, reflecting the sale of $1.5 billion of non-core assets and portfolio run-off in excess of new business activity. Significant asset sales during the quarter included a $0.6 billion liquidating consumer portfolio in Vendor Finance, $0.6 billion of Corporate Finance loans, $0.2 billion of other Vendor assets and approximately $100 million of Transportation equipment. Assets held for sale at September 30, 2010 include essentially the entire private student loan portfolio, some government guaranteed student loans and certain energy-related Corporate Finance assets.

Preliminary Tier 1 and Total Capital ratios improved to 18.7% and 19.6%, respectively, up from 17.5% and 18.2% at June 30, 2010, benefiting from both growth in common equity and a decline in risk-weighted assets. Book value per share at September 30, 2010 was $44.09.

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


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

Maxim Commercial Capital, LLC Completes Credit Facility

Maxim Commercial Capital, LLC is pleased to announce the completion of a revolving credit facility with Cathay Bank, N.A.

Doug Houlahan, Managing Partner

"This credit facility is a testament to what Maxim has been able to accomplish in just under two years in the Equipment Finance business. We were fortunate to bring together the right people and the right product at exactly the right time" stated Doug Houlahan, Managing Partner of Maxim Commercial Capital, LLC.

Shervin Rashti, Managing Partner

"This line of credit guarantees Maxim the capital necessary to hit our growth targets and continue to provide creative funding solutions for our clients" added Shervin Rashti, Managing Partner. We are confident Cathay will prove to be a great partner as we expand our line and our relationship over the years to come.

Maxim Commercial Capital, LLC, with offices in Los Angeles and San Francisco, CA, provides creative and flexible asset-based financing solutions to third-party originators. For more information visit or call 877-77-MAXIM (62946).

Doug Houlahan
Maxim Commercial Capital, LLC
(415) 599-4057 - Direct
(877) 77-MAXIM x. 201

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


Puget Sound, Washington---Adopt a Dog

Meeka Husky: An adoptable dog in Auburn, WA
Medium • Adult • Female
Puget Sound Rescue
Auburn, WA

This sweet girl is looking for her forever home -- preferably in a calm, not too hectic, environment without kids. She is shy at first but quickly warms up to people and is eager to show you her cuddly side. She is a little underweight but is otherwise healthy and would thrive in a home where she can get lots of TLC and be your closest companion. Meeka is housebroken, great with other dogs and walks well on the leash. Her adoption donation is $250 .

Phone: Please use email

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

Adopt a Pet\



News Briefs----

Lease agreement reform will show the true state of the balance sheet

Interview: Air Lease CEO Steve Udvar-Hazy

Restaurant stocks are on a roll as chains recover nicely

Ellison vows evidence will implicate HP's new CEO

Californians cut spending, indicating permanent behavioral shift

Audrina Patridge eliminated from Dancing with the Stars,,20437134,00.html



You May have Missed---

Google appears close to buying the trophy 111 Eighth Ave. building NYC




Sports Briefs----

Rangers unfazed by AT&T Park's quirks

Tony Romo expected to miss 6-8 weeks because of broken collarbone,0,3146669.story




California Nuts Briefs---

City by the Bay Braces for World Series

Whitman, refusing to pull negative ads, jeered at women's conference

Foreclosures: 1,500 homes lost this year in Sonoma County




“Gimme that Wine”

Summer Wine Sales End with a Bang

Howell Mountain Appellation Collection tasting in St. Helena November 6th

Raise Your Glass to Texas Wine History

60 growers file for bankruptcy amid Muscadet 'meltdown'

Free Mobile Wine Program

Wine Prices by vintage

US/International Wine Events

Winery Atlas\

Leasing News Wine & Spirits Page


This Day in American History


     1659-William Robinson and Marmadue Stevenson, English Quakers who had come to America in 1656, were executed for their religious beliefs, hanged from an elm tree on Boston Common, Boston MA. They were condemned by the Massachusetts General Court under a law passed on October 19,1658 that banished Quakers from the colony under pain of death. Also condemned, but reprieved at the last moment, was Mary Dyer, who returned to Boston the following year and was hanged on June 1, 1660.
    1771- Landing at Philadelphia, pioneer bishop Francis Asbury, 26, first arrived in America. He had been sent from England by John Wesley to oversee Methodism in the American colonies, and stayed all of his remaining 45 years, till his death in 1816.
    1787-The first of the 85 "Federalist" papers appeared in print in a New York City newspaper, Oct 27, 1787. These essays, written by Alexander Hamilton, James Madison and John Jay, argued in favor of adoption of the new Constitution and the new form of federal government. The last of the essays was completed Apr 4, 1788.
    1795 - Pinckney's Treaty between Spain and the United States was signed. It established the former southern boundary of the United States at the 31st parallel and gave Americans the right to send goods down the Mississippi without paying duty to Spain.
    1810- US annexes West Florida from Spain
    1812-The first Naval vessel to display the American flag around Cape Horn was the Essex, a frigate commanded by Captain David Porte which left the Delaware capes this day with a crew of 287 and 32 marines, and arrived at Valparasio, Chile, on March 14, 1813. The ship had been launched on September 30,1799, by Enos Briggs, Salem, MA. The flag was presented to the United States and on December 17,1799, accepted by Captain Edward Preble ( my son Dash serves on the ship named after this American hero.) The flag was sold at public auction on June 6, 1837, according to naval records.
    1842-Birthday of Anna Elizabeth, considered in her century the Joan of Arc of the Abolition in America.
    1858-Birthday of Theodore Roosevelt: Twenty-sixth president of the US, succeeded to the presidency on the death of William McKinley. His term of office: Sept 14, 1901-Mar 3, 1909. Roosevelt was the first president to ride in an automobile (1902), to submerge in a submarine (1905) and to fly in an airplane (1910). Although his best-remembered quote was perhaps, "Speak softly and carry a big stick," he also said: "The first requisite of a good citizen in this Republic of ours is that he shall be able and willing to pull his weight." Born at New York, NY, Roosevelt died at Oyster Bay, NY, Jan 6, 1919. His last words: "Put out the light."
    1858 -RH Macy and Co opens 1st store, (6th Ave-NYC) Gross receipts $1106
    1862-In an attempt to reinforce and re-supply the besieged Union troops at Chattanooga, TN, General Ulysses S. Grant ordered that a river route to Bridgeport, AL, be opened. In the early morning of Oct 27 Federal troops drifted down the Tennessee River on pontoons to Brown's Ferry. The troops reached their destination, and reinforcements and supplies crossed the bridge formed by the pontoons, opening "The Cracker Line," into Chattanooga, negating some of the Southern army's advantage in the siege. It was a very important battle as the Union Army had been living on hard tack, or what they were known in those days as “crackers” and this opened the supply lines to feed the troops and allowed them to continue their campaign.
    1865-It is estimated 65,000 Blacks served in the Confederate army, with an estimated 13,000 actually facing the Union Army in combat.
    1867-Maimondies College, Philadelphia, PA became the first theological college for Jews. It was sponsored by the Hebrew Education Society of Philadelphia and the Board of Delegates of American Israelites. The founder and first president was Rabbie Isaac Leeser, who also served as professor of homiletics, belles lettres, and comparative theology. It offered a five-year course leading to the Bachelor's and Doctor of Divinity degrees. Tuition was $100, and board and lodging $200 per year. Dr. Marcus Jastrow was provost. The college closed in 1873.
    1871- Boss Tweed (William Macy Tweed), Democratic leader of Tammany Hall, arrested after NY Times exposed his corruption
    1878- Mabel Wheeler Daniels was born in Swampscott, Massachusetts, and graduated from Radcliffe College, magna cum laude, in 1900. She studied composition with George Chadwick of Boston, and with Ludwig Thuille in Munich, where she was the first woman ever to enroll in the conservatory's score reading class. She wrote a lively memoir of her studies abroad, An American Girl in Munich (Boston: Little, Brown and Co., 1905), and was director of music at Simmons College from 1913 to 1918. Her larger choral and orchestral works were performed by the Harvard Glee Club and the Radcliffe Choral Society with the Boston Symphony, at the Worcester Festival, and by orchestras and choruses throughout the United States. American composer, specialized in choral music, the only American composer played at the Carnegie Hall Festival in 1939, the only woman to have three works played by the Boston Symphony 1929, 1934, and 1954.
    1904-New York subway: Running from City Hall to West 145th Street, the New York City subway began operation. It was privately operated by the Interborough Rapid Transit Company and later became part of the system operated by the New York City Transit Authority.
(second part: )
    1909 -- Blues guitarist/pianist, Henry Townsend born near Cairo, Illinois.
    1913-Last great bandleader of the era: Boyd Raeburn born Faith, SD.
    1917 - Jascha Heifetz made his debut at Carnegie Hall in New York City. Heifetz was a 16-year-old sensation who had played the violin since age 5.
    1918--*PERKINS, MICHAEL J. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Company D, 101st Infantry, 26th Division. Place and date: At Belieu Bois, France, 27 October 1918. Entered service at: Boston, Mass. Birth: Boston, Mass. G.O. No.: 34, W.D. 1919. Citation: He, voluntarily and alone, crawled to a German "pill box" machinegun emplacement, from which grenades were being thrown at his platoon. Awaiting his opportunity, when the door was again opened and another grenade thrown, he threw a bomb inside, bursting the door open, and then, drawing his trench knife, rushed into the emplacement. In a hand-to-hand struggle he killed or wounded several of the occupants and captured about 25 prisoners, at the same time silencing 7 machineguns.
    1920 - Marconi, Fessenden, and De Forest were the catalysts. However, it was an engineer for Westinghouse Electric who, in 1916, was broadcasting music from his garage (in Wilkinsburg, PA, a suburb of Pittsburgh) over a wireless -- amateur radio station 8XK -- that really got the whole thing started. A newspaper article about the broadcasts caused such interest that the head honchos at Westinghouse decided to build a real radio station. It took until this day in 1920 for the Westinghouse radio station to receive a license to broadcast. The license for KDKA, Pittsburgh came from the U.S. Department of Commerce. Although the license was officially issued on this day, KDKA did not start their broadcast operations for a week (they had to wait until the license was posted in the station). On November 2, 1920, the station aired the returns of the Harding/Cox election ... the first radio programming to reach an audience of any size ... approximately 1,000 people. And so we salute this day as the official birthday of mass appeal radio.
    1922-Navy Day was first celebrated, the anniversary of the birth of President Roosevelt. Celebrations were held in various parts of the United States. The idea was suggested by Mrs. William Hamilton to the Secretary of the Navy.
    1923-Roy Lichenstien birthday-Pop artist who used comic strips and other elements of pop culture in his paintings. Born at New York City, he died there Sept 29, 1997.
    1927- Bix Biederbeck and Frankie Trumbauer join the Paul Whiteman Band in Indianapolis, IN.
    1932- "Brother, Can You Spare A Dime?" Rudy Vallee., Only days after the debut of the short-lived 1932 musical, Americana, Bing Crosby was in a NY studio to record the show's outstanding song, "Brother, Can You Spare A Dime?" Two days later, rival crooner Rudy Vallee waxed this version, and both 1932 recordings enjoyed considerable popularity in a year when few Americans were buying records.
    1932 -- American poet Sylvia Plath born Boston, Massachusetts. Died 1963.
    1944 -- October 27-30, 1944 The 442nd Regimental Combat Team (Japanese Americans) rescues an American battalion which had been cut off and surrounded by the enemy. Eight hundred casualties are suffered to rescue 211 men. After this rescue, the 442nd is ordered to keep advancing in the forest; they would push ahead without relief or rest until November 9. The Unit was the most decorated in US military history..
    1944---COOLIDGE, CHARLES H. Medal of Honor
Rank and organization: Technical Sergeant, U.S. Army, Company M, 141st Infantry, 36th Infantry Division. Place and date: East of Belmont sur Buttant, France, 2427 October 1944. Entered service at: Signal Mountain, Tenn. Birth: Signal Mountain, Tenn. G.O. No.: 53, July 1945. Citation: Leading a section of heavy machineguns supported by 1 platoon of Company K, he took a position near Hill 623, east of Belmont sur Buttant, France, on 24 October 1944, with the mission of covering the right flank of the 3d Battalion and supporting its action. T/Sgt. Coolidge went forward with a sergeant of Company K to reconnoiter positions for coordinating the fires of the light and heavy machineguns. They ran into an enemy force in the woods estimated to be an infantry company. T/Sgt. Coolidge, attempting to bluff the Germans by a show of assurance and boldness called upon them to surrender, whereupon the enemy opened fire. With his carbine, T/Sgt. Coolidge wounded 2 of them. There being no officer present with the force, T/Sgt. Coolidge at once assumed command. Many of the men were replacements recently arrived; this was their first experience under fire. T/Sgt. Coolidge, unmindful of the enemy fire delivered at close range, walked along the position, calming and encouraging his men and directing their fire. The attack was thrown back. Through 25 and 26 October the enemy launched repeated attacks against the position of this combat group but each was repulsed due to T/Sgt. Coolidge's able leadership. On 27 October, German infantry, supported by 2 tanks, made a determined attack on the position. The area was swept by enemy small arms, machinegun, and tank fire. T/Sgt. Coolidge armed himself with a bazooka and advanced to within 25 yards of the tanks. His bazooka failed to function and he threw it aside. Securing all the hand grenades he could carry, he crawled forward and inflicted heavy casualties on the advancing enemy. Finally it became apparent that the enemy, in greatly superior force, supported by tanks, would overrun the position. T/Sgt. Coolidge, displaying great coolness and courage, directed and conducted an orderly withdrawal, being himself the last to leave the position. As a result of T/Sgt. Coolidge's heroic and superior leadership, the mission of this combat group was accomplished throughout 4 days of continuous fighting against numerically superior enemy troops in rain and cold and amid dense woods.
    1947 - "You Bet Your Life," starring Groucho Marx, premiered on ABC Radio. It later became a television show on NBC.
    1948 - On ABC radio, Groucho Marx made his first appearance as quizmaster on "You Bet Your Life" with George Fenneman as his eternal straight man. Fenneman stayed with Marx during both the program's run on radio from 1948 to 1959 and on television from 1950 to 1961.
    1951-Top Hits
Because of You - Tony Bennett
I Get Ideas - Tony Martin
The World is Waiting for the Sunrise - Les Paul and Mary Ford
Always Late (With Your Kisses) - Lefty Frizzell
    1954-“The Walt Disney Show” premiered on TV. This highly successful and long-running show appeared on different networks under different names but was essentially the same show. It was the first ABC series to break the Nielsen's Top Twenty and the first prime-time anthology series for kids. "Walt Disney" was originally titled "Disneyland" to promote the park and upcoming Disney releases. Later the title was changed to "Walt Disney Presents"; when it switched networks, it was called "Walt Disney's Wonderful World of Color" to highlight its being broadcast in color. Later titles included "The Wonderful World of Disney," "Disney's Wonderful World," "The Disney Sunday Movie" and "The Magical World of Disney." Presentations included edited versions of previously released Disney films and original productions (including natural history documentaries, behind-the-scenes at Disney shows and dramatic shows, including the popular Davy Crockett segments that were the first TV.
    1954-Benjamin Oliver, Davis, Jr., of Washington, DC, a pioneering military officer who was the leader of the fabled Tuskegee Airmen during World War II, who became director of operations and training of the Far East Air Force, was named brigadier general, becoming the first US Air Force general who was African-American. In 1970, after retiring from the Air Force, he supervised the federal sky marshal program that was designed to quell a rash of airliner hijackings. In 1971, he was named an assistant secretary of transportation. At the time he left the Air Force as a Lieutenant General, wearing three stars, he was the senior black officer in the armed forces. In 1998, President Bill Clinton awarded General Davis his fourth star, advancing him to full general. He was the son of Brigadier General Benjamin Oliver Davis of the US Army. Died July 4, 2002
    1955- Miles Davis Quintet cuts first session. 1993-The NFL awarded the 29th franchise to the Carolina Panthers, who began play in the 1995 season.
    1955--An R&B group called The Famous Flames, lead by singer James Brown, cut their first demo of "Please, Please, Please" at a radio station in Macon Georgia. It will lead to their signing with King Records.
    1955- Miles Davis Quintet cuts first session. (note this 1993 follows and need to go to 1993 and not as it appears here:) 1993-The NFL awarded the 29th franchise to the Carolina Panthers, who began play in the 1995 season.
    1956--Clarence Henry's "Ain't Got No Home" is released by Argo Records. Because he sings like a frog on the record, further releases would be credited to Clarence "Frogman" Henry. This is one of my favorite songs from the 1950's that we used to sing all the time.
    1957- Police in Oakland, CA inform Elvis Presley that he is not allowed to swivel his hips onstage in tonight's performance at the Oakland Auditorium; Elvis responds by sarcastically wiggling only his little finger while singing. The cops film the show anyway, just in case.
    1959-Top Hits
Mack the Knife - Bobby Darin
Mr. Blue - The Fleetwoods
Don't You Know - Della Reese
The Three Bells - The Browns
    1960--Ben E. King was at Atlantic Records, laying down his first solo efforts since leaving The Drifters. During the session, King recorded "Spanish Harlem" which would reach #10 in the US and "Stand By Me" which would go to #4.
    1962--The Rolling Stones, consisting of Keith Richard, Mick Jagger, Brian Jones, pianist Ian Stewart and drummer Tony Chapman record their first demo tape at Curly Clayton Studios in Highbury, London. Although Charlie Watts is being courted, he chooses to remain at his Regent Street advertising job.
    1962 - An early season winter storm over New England blanketed northern Maine with 7 to 16 inches of snow, and southeastern New England with up to 3 inches of snow. Worcester MA received a record 4.7 inches of snow.
    1963 - Peter, Paul and Mary were sitting pretty at #1 and #2 on the U.S. album chart with "Peter, Paul and Mary" and "In the Wind".
    1964--31 year old Salvatore Philip Bono marries 18 year old Cherilyn Sarkisian La Piere. For a time they performed together as Caesar and Cleo before changing the name of their act to Sonny and Cher. Their union lasted 12 years.
    1966 -- New San Francisco "alternative" weekly newspaper, "The Guardian," debuts. Edited and published by Bruce Brugman. Editors at the Chronicle, Examiner and News-Call-Bulletin give it little chance for survival, Guess what? It still publishes.
    1967-Top Hits
To Sir with Love - Lulu
How Can I Be Sure - The Young Rascals
Expressway to Your Heart - Soul Survivors
I Don't Wanna Play House - Tammy Wynette
    1973---Although they enjoyed a long string of hit records, Gladys Knight and The Pips had their only US number one song when "Midnight Train to Georgia" hit the top.
    1975-Top Hits
Bad Blood - Neil Sedaka
Calypso/I'm Sorry - John Denver
Miracles - Jefferson Starship
San Antonio Stroll - Tanya Tucker
    1975 -- Bruce Springsteen simultaneously makes the cover of Time and Newsweek, a move which reportedly embarrasses the two news weeklies.
    1981 - Game 6, the final game of the Fall Classic, saw the LA Dodgers beat the New York Yankees 9-2 after losing the first two games. The Dodgers stormed back to win their fourth straight World Series. There was genuine concern that snow might interfere with the Series, since it was being played so late in the season.
    1983-Top Hits
Total Eclipse of the Heart - Bonnie Tyler
Islands in the Stream - Kenny Rogers and Dolly Parton
All Night Long (All Night) - Lionel Richie
Lady Down on Love – Alabama
    1985—Kansas City Royals beat the St. Louis Cardinals in Game 7 to win the World Series.
    1986 - The "Mighty" New York Mets became world champions of baseball again when they defeated the Boston Red Sox in game seven, 8-
    1989- After a ten day delay due to the earthquake, the World Series resumes with the A's beating the Giants in Game 3, 13-7. Oakland used the long ball hitting five HRs in securing the victory.
    1989 - Wintry weather invaded the northwestern U.S. A storm crossing the Central Rockies produced up to 23 inches of snow in the mountains east of Salt Lake City UT. "Indian Summer" continued in the Lower Ohio Valley and the Upper Great Lakes Region. Afternoon highs of 71 degrees at Marquette MI and 72 degrees at Sault Ste Marie MI were records for the date.
    1991 - In what is considered by the experts (Bob and Jim down at the bar), the seventh game of the World Series, played this day, was one of the greatest ever. Minnesota Twins' pinch-hitter Gene Larkin's tenth-inning bases-loaded single beat the Atlanta Braves 1-0 in the seventh game the World Series. The Twins captured their second World Championship in five years during a tight series that included three extra-inning games and five one-runners. And, for only the second time in history, the home team won all seven games (the first time it happened was 1987, a series that also featured the Twins.)
    1991-Top Hits
Emotions - Mariah Carey
Do Anything - Natural Selection
Romantic - Karyn White
Anymore - Travis Tritt
    1993-Top Hits
Dreamlover- Mariah Carey
I d Do Anything For Love (But I Won t Do That)- Meat Loaf
All That She Wants- Ace Of Base
Just Kickin It- Xscape
The River Of Dreams- Billy Joel
    1963-Peter, Paul and Mary, the folksinging trio who along with Joan Baez, have introduced songwriters like Bob Dylan to mainstream audiences, hold the top two positions on the pop album chart with "In the Win" and "Don't Think Twice, It's Alright.
    1991-- In Game 7 of the 'worst to first' World Series, the Twins beat the Braves in ten innings, 1-0. Both Atlanta and Minnesota had finished last in their respective divisions last year.
    1994-The prison population exceeded 1 million, according to an announcement made by the Justice Department. The increase in prisoners made the United States second in the world to Russia with regard to incarceration rates.
    1998-Top Hits
The First Night- Monica
One Week- Barenaked Ladies
How Deep Is Your Love- Dru Hill Featuring Redman
Crush- Jennifer Paige
    1999 - Roger Clemens pitched the New York Yankees to their second straight World Series sweep, shutting down the Atlanta Braves, 4-1. This ended Clemens' quest for the prize that had eluded him. Clemens and the Yankees shut out Atlanta into the eighth out dueling John Smoltz. Pitcher Mariano Rivera who had two saves and a win in the Series was selected as MVP.
    2000- New York City Mayor Rudolph Giuliani thinks it is okay for children to take a day off from school to watch the Yankees' ticker-tape parade. His Honor, believing baseball can be an educational experience, has allowed his own kids, Andrew and Caroline, to miss classes in the past to watch the Bronx Bombers' post-season celebrations.
    2002-- In the team's 42nd season, the Angels finally win a World Series title by beating the Giants, 4-1, in Game 7 at Edison Field . Garret Anderson's three-run double provides enough offense for John Lackey to become the first rookie to win a seventh game since 1909 when Babe Adams accomplished the feat for the Pirates.
    2002-Top Hits
Lose Yourself- Eminem
Hey Ma- Cam'ron Featuring Juelz Santana, Freekey Zekey and Toya
Work It- Missy "Misdemeanor" Elliott
A Moment Like This- Kelly Clarkson
    2006 -- After leading the Padres to two consecutive NL West titles, Bruce Bouchy, with a year left on his contract leaves San Diego, to become the manager of the division rival, San Francisco Giants. The 51-year-old skipper, who compiled a 951-975 (.494) during his 12 seasons in the Friars dugout, signs a three-year deal worth approximately $6 million.
    2008 -- After playing in drenching steady rain until the middle of the sixth inning at Citizens Bank Park, Game 5 of the World Series is suspended making it the first Fall Classic contest to start and not be played to completion. The 2-2 tied game between the Rays and hometown Phillies, who are one victory away from a world championship, will resumed tomorrow at the point the rain delay stopped play.

World Series Champions This Date

    1985- Kansas City Royals
    1986- New York Mets
    1991 -Minnesota Twins
    2002- Anaheim Angels


Baseball Poem


by Tim Peeler

A Faulkner sentence is an extra inning game, Simply and finally playing through its Will and exhaustion.

Third Base Coach signals are ee cummings poems-
Gimmicky, sure, but meaningful in their color
When you break the code. 

The prisons play contests of Bukowski prose,
Where a stolen base may be a literal image
And everybody gambles nothing. 

Weird killers load the bases at a
Stephen King Little League field, the sequel,
A grand slam promise at the bank. 

Although Poe would never sit through nine,
His words are a dark season in the cellar,
A team leaving town and the death of a Beautiful groupie. 

Finally, Wolfe who wrote slugfest
Double-headers played to million-footed
Throngs, then flickered like so many other
Stars never meant for extra innings.


--- with the permission of the author, from his
book of baseball poetry:

“Waiting for Godot's First Pitch”
More Poems from Baseball 

available from Amazon or direct from the publisher at:




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