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Kit Menkin’s Leasing News www.leasingnews.org
Monday, October 7, 2002 Accurate, fair and unbiased news
for the equipment Leasing Industry Friday’s Leasing News posted www.leasingnews.org at 10:00am PDT ---------------------------------------------------------------------------------------------- Headlines--- Picture from the
Past—Kit Menkin/Jim Kalinski UAEL
Elects First Female President Commercial
Money Center Last Day for Credit Filing Growing
losses cause anxiety for truckers idling at ports Port
dispute turns on technology--S.F.Chronicle ELA
Conference Starts This Sunday-Over 1,000 registered
Key Equipment Finance Lease Advisory Services Universal
Express -USXP- To Acquire ATM Paycard LLC ### Denotes Press Release ----------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------
Finance: Lyndhurst, NJ CFO w/20+ years leasing/financing. Respected by lenders/rating
agencies full & fair financial reporting. Outstanding record restructuring
debt. Adept at investor relations and mentoring people. Email:joemcdev@aol.com Operations: Wayne, NJ 20+ heavily experienced collection/recovery VP looking to
improve someone's bottom line. Proven, verifiable track record. Knowledge
of all types of portfolio. Will relocate Email:cmate@nac.net Sales: Tampa, FL Experienced Outside leasing professional seeks direct funding
company. 3 years direct experience. Construction, Capital equipment experience.
Bi-lingual English/Spanish. Seek employee basis only. Email:holybull@hotmail.com for full list, please
go here: http://65.209.205.32/LeasingNews/JobPostings.htm October 7 MONDAY Consumer Borrowing: August October 8 TUESDAY None October 9 WEDNESDAY Nobel Prize in Economic Science awarded in Stockholm, Sweden. October 10 THURSDAY Sales of Leading Retailers: September Weekly Jobless Claims Freddie Mac, the mortgage company, reports on mortgage rates. October11 FRIDAY Producer Prices: September Retail Sales . October 13 Sunday Equipment Leasing Association San Francisco Conference (Leasing News will have daily reports on the conference---stay tuned ). _________________________________________ Microsoft Capital does not accept any broker business nor
has a “private label” program, according to a Microsoft spokesman. Microsoft Capital was set up specifically for OEM and Microsoft partners. http://www.microsoft.com/licensing/programs/open/finance/faqcredit.asp
http://www.microsoft.com/licensing/programs/open/finance/
http://www.microsoft.com/presspass/inside_ms.asp ------------------------------------------------------------------------- UAEL Elects First Female President Oren Hall, emeritus member, former president of the United
Association of Equipment Leasing (UAEL), made the motion from the floor,
and President Bob Fisher, CLP, made the announcement, “ In the first 26
years of our association, we now
have a female president, Bette Kerhoulas, CLP. “
Also elected were vice-president Jim Coston, Coston &
Lichtman, Secretary/Treasurer, Terey Jennings, CLP, Financial Pacific
Leasing , Peter Eaton, CLP, Pentech Financial Services, Bob Baker, CLP,
Wildwood Leasing, John Donohue, Direct Capital, Dwight Galloway, CLP,
Republic Financial, Brent Hall, CLP, Pinnacle Capital, Victor Harris,
Law Offices of Victor Harris, Marci Kimball, ACC Capital, John Kruse,
CapitalStream, Jim McCommon CLP, Brad Peterson, Manifest Funding Services
Bob Teichman, CLP, Teichman Financial Training. Taking the microphone, Bette Kerhoulas, CLP, president of
Pacifica- Capital, promised to continue the theme of “ education, networking,
and involvement.” “Get together, see what is happening, and be involved,” she
said. She also announced the next two conference, Palm Spring,
California,. the first week of May, 2003, and Portland, Oregon, second
week of October, 2003. Her theme she said centered around “R’s” 1) resilient 2) Renew, redirect, realign, recapture, restructure, readjust—all to go forward. 3) Ripple, as in the ripple effect, through an rock into
the water and the ripple, the effect it has. She also discussed the California Tax Audit of her company,
that she felt would not only affect all lessors and discounters
in California, but other states, as she was now being audited by the State
of Texas. She said she was in contact with the Equipment Leasing Association. “The states are looking for fee increases and as the auditor
told us, leasing companies have been overlooked,” he said. “1.Sales tax on document fees ( in California mortgage companies and automobile dealership are paying taxes on document fees.) If it charged separately, in a separate document, it may
not be part of the sale and therefore not subject to sales tax.
I n California, they are going back three years on this and penalties. 2. True lease transaction or defined purchase options, if
they are part up the up front cost and not on the stream, if the assignment
transfers the title, whether master or separate assignment per lease, they
are subject to sales tax, even if you have a tax re-sale card, as the
taxing authority considers this another sale. We are contesting this. 3. Proof of assignee paying the sales tax ( if in the transaction,
the funder is to pay the sales tax or assignee, proof that it was paid---CMC,
MSM, and other situations exist where the sales tax was not paid,
and therefore is the discounters responsibility and obligation). The Top Gun Conference in San Diego was cheered by all those
who attended, including many accolades to chairman John Kruse and his committee.
High energy was experienced, including many very happy exhibitors
who were booked up during the entire time. One of the words used to express the feeling of the conference was “nurturing,” as members were “nurtured”
by each other. The budget was for 430 members, but chief operating officer
Joe Woodley, CLP, was very satisfied with the actual 330 attendance. Membership director Bob Grohe was also pleased at the turn out and member support,
especially in view of all the negative economic news. It was obvious
to him, he said, that members need to get together and talk to each other
about their experiences and learn from each other. President Bob Fisher in his speech let his hair down about
the changes in attendance at regional and other meetings, which matched
the economy and the state of the leasing industry. One of the highlights
of the business meeting was the photo’s of Fisher from being in the Marine
in Vietnam, to teaching, running marathons, and pictures of his family
and children during their vacations. Leasing News sponsored two workshops and due to this could
not visit the others, which were not repeated, so the news is
about the Top Gun Sales Men and Sales Managers. A report on other aspects of the conference is expected for tomorrow’s edition. The first workshop “Top Gun Sales Men” was standing room
only, with all 90 seats taken, and people standing as Jim Raider, Ignacio Sanchez, Tony Sherwin and Eric Sidebotham spoke. Basically, they do $25,000 to $75,000 transactions as an average, making eight points
( Eric said he would make less to make the deal and Raeder said
there were other fees, did not do any deals less than $10,000,
started work at 7:30am, made 50 t0 75 marketing calls minimum (although Tony Sherwin made this amount; he called existing clients
and vendors), all had lunch, left around 6pm, did not take calls at home,
nor did they work on weekends. All
at the beginning of the year decided how much money they needed to make, and set this as their goal.
They did a lot of research on industries to call, were well-read,
active on the internet, did a lot of market research on who to call,
used trade show lists published on the internet, had many innovations. They were all asked James Liston ten question that he uses
on Bravo’s “Inside Actors Workshop”* Jim Raeder was the most outspoken, bringing laughter from the audience (he enjoyed the attendance, meeting many ex-salesmen who were glad to see him, and was surprised by his popularity among them
), Igagio Sanchez favorite noise was the whinny of horses (he
owns five), Tony Sherwin was the most organized, determined, centered, businesslike, very serious, and Eric Sidebotham, a Top Gun
big money maker, did the less planning, he said, but worked long
hours and made “relationships.” The Top Gun Sales Managers workshop was very interesting
because there was obviously a difference between the East Coast and the West
Coast approach to hiring and training salesmen. A first for any conference to highlight sales manger, who each, by the way, considered themselves
a salesman first, rather than a “manager.”
Richard Baccaro was undoubtedly the wittiest (although comments
by Jim Raeder brought the most laugher ) humorous, and layback. He had his ex-bosses in the room, now owned
his owned company, where he trained salesmen, and his approach was quite
different than Brad Kissler, sales manager of Balboa ( his boss, and perhaps the mentor of all, Patrick Byrne was in the audience.)
Kissler worked more a 8 to 5 job, but traveled also to the various
branches, Mark McQuitty of Capitalwerks expected to have 100 salesmen
soon, and was the most intense, organized, and team oriented. A brilliant
person, it was also his first appearance at any lease conference.
He could have had another hour to speak.) He was up at 5am,took 18 of his
team to a noon workout, ate on the way back, than at 6pm, did another
physical workout with his team for an hour, then went back to work where
he and Jim Raeder were there to 8pm or later. (He said to “professions
other than your own would you like to attempt? Teach American history
at the college level.) No one worked weekends. There were organized sales programs, with mentors, except
for the East Coast, which evidently prefers to “steal” existing and “proven”
salesmen, then train people right out of college with no leasing experience, ( the West Coast Offense. ) All said that if a salesman was coming in early, making his calls, giving his all, even though his sales were down,
they would not let them go. By the
numbers, the training the mentor program, anyone who worked hard would make it, they all said. The sessions should have been two hours to cover the material,
especially since many of the panelist were just getting warmed up.
It was quite a unique appearance, which received applause from
the audience. _____________________________________________________________ Commercial Money Center Last Day for Credit Filing Today is the deadline for creditors to file proof of claim
(case number 02-24068 ). CMC’s attorney is Bradley S. Sharlberg (561-395-9599).
Judge Raymond B, Ray has ordered CMC to file missing documents, including schedules
and statements of affairs. Accordingly, the officers must cooperate with the bankruptcy
court. There are issues regarding
the fiduciary responsibility of all the officers pending. http://www.leasingnews.org/Conscious-Top%20Stories/CMC_stories.htm Growing losses cause anxiety for truckers idling at ports -- by Rene Tankersley Landlinemag.com The Official Publication
of the Owner-Operator Independent Drivers Association Owner-Operator Independent Drivers Association members Jim
and Athena Shannon have been stuck at the Port of Oakland since Saturday
night with a load of meat bound for the Orient. The Shannons, independent
truckers from Nevada, say each day costs them at least $600. The Shannons, who deliver meat to the port every week, were
due to unload Monday morning, but the port was closed Sunday by the Pacific
Maritime Association as a result of a standoff with the International
Longshore and Warehouse Union. Jim Shannon says he hasn't been given a
"backup plan" from their carrier, Conte Intermodal out of Winter
Garden, FL. "The carriers don't know much more than the drivers,"
says Michael Wright, with Conte Intermodal's safety department. His company
has 12 owner-operators sitting at the port.” We don't really know. We
asked the people we get our meat from," he said. "They told
us sometimes it sits on the containers for 10 days and on the ship 10
days, so they're not worried about it yet. All we can do is sit around.
It's the shipper's call. They can't let it sit forever." Wright reported
shippers will not be sending a shipment out next week. Meanwhile, the Port of Oakland has provided a parking lot
for the truckers held up by the labor dispute. Jim Shannon says they are
existing on a day-to-day basis. "They brought in new port-a-potties,"
he said. "A lunch wagon comes around three times a day, and lots
of truckers have their own grills and we get together for grocery runs.
They send around a fuel truck to keep the reefers running 24 hours a day.
We're taking care of ourselves, but the revenue loss is the main issue." In the parking lot where the Shannons' truck is parked, there
are at least 50 trucks, including the 12 from Conte and many from Nebraska-based
R.E. Monson. Shannon says Oakland news sources estimate about 2,600 trucks
are currently jammed up at the 29 ports along the West Coast. Additionally, published reports say more than 12,000 rigs
operated by short-haul drivers in Southern California have been parked
at cargo transfer stations throughout the region. Afraid of a run-in with
picketing longshoremen, drivers are avoiding the docks. The ILWU has been without a contract since July 1. Contract
talks are stuck on the issue of computerized cargo-handling machinery.
The PMA says they need this technology, but ILWU officials fear the new
technology will cost union workers their jobs. ------------------------------------------------------------------------------------------------ Port dispute turns on technology David Armstrong, San Francisco Chronicle Staff Writer In Rotterdam, a marine terminal is run by robots. In Singapore, a crane operator in an air-conditioned cab uses
video screens and computer links to choreograph the movement of cargo
containers. In myriad ports around the world, optical character recognition scanners speed-read the identification
numbers on cargo containers -- work that used to be laboriously hand-recorded
by clerks with clipboards. None of this high-end technology is employed in West Coast
seaports, where a dispute between employers and members of the International
Longshore and Warehouse Union shut down the ports last week. The conflict
revolves around whether the union will have jurisdiction over newly created
tech- driven jobs. Yet, industry observers say, change is inevitable,
and the use of high-tech tools abroad suggests that they eventually will
be adopted by the ports in Oakland, Seattle and Los Angeles. Ironically, the technology proposed for West Coast ports
is far from cutting-edge, at least in the initial stages. Shipping experts
describe it as basic technology akin to bar-code scanning found in retail
outlets and electronic data-crunching long used around the world by the
U.S. military. Basic as it is, such technology could, they say, improve
seaport security in an anxious age by making improvements to cargo tracking
and surveillance. It could also boost the productivity of U.S. ports that
are trying to compete with more- efficient ports overseas. "The most-sophisticated technology is used by ports
in Southeast Asia, and in Holland and Germany," said Tom Ward, principal
in charge of terminal planning and analysis for the JWD Group, an Oakland
seaport architectural and consulting firm. "We are way behind what's
being done there." LAGGING THE LEADERS In a study done by JWD in 2001, the firm found U.S. ports
badly lagged world leaders, as measured by how many standard 20-foot container
units were moved annually in relationship to the acreage of the ports.
In 1999, the most recent year for which statistics were available, Oakland
moved barely one- fifth as many TEUs as Hong Kong, according to the study.
Oakland was running just behind Seattle- Tacoma and just ahead of last-place
New York/New Jersey. (A TEU, or twenty-foot equivalent unit, is the standard
unit of measurement for container cargo.) "We're crunching numbers now for last year, and the
relationships between the ports haven't changed materially," Ward
said. With new technology, he estimated, Oakland could increase its efficiency
"from 30 percent to 50 percent without seriously increasing its operating
costs." Oakland's technological deficiency has proven frustrating
to major carriers and terminal operators. Many carriers, such as Singaporean-owned
APL, Korean- owned Hanjin and Danish-owned Maersk Sealand, can use the
latest technology in Asian and European ports but not in Oakland. "The technology (proposed for implementation) in West
Coast ports is basic information technology," said Ward, whose firm
has done consulting work for the Pacific Maritime Association, the employers'
trade group. "The technology exists to capture information automatically,"
he said. Video cameras, for example, can read the license plate numbers
of trucks on port land, feeding the information to computers that can
identify trucks and what they are carrying. Taking such steps, Ward said, could speed the movement of
trucks through increasingly congested ports and cut the toxic fumes the
trucks spew into the air. At present, drivers idle their engines while
they wait, sometimes for hours, to be cleared and have their cargo loaded
or off-loaded. Additionally, Ward said, scanners can identify cargo containers
and make it unnecessary for clerks to record information by hand out on
the docks, where hulking, moving machinery makes work dirty and dangerous. ELECTRONIC ID "All 13 million containers in the world carry four letters
and seven numbers in various combinations on the side," Ward said.
Electronic scanners can read the codes and match up the container with
computerized cargo manifests that show the contents, where the container
was packed, where it is going, the name of the shipper and other information
needed for security and efficiency. Post-Sept. 11 security concerns are helping to drive the
push to automate the nation's seaports, seen as potential weak spots in
the fight against terrorism. "There's no technological magic bullet," said Michael
Nacht, dean of the Goldman School of Public Policy at UC Berkeley and
an expert on national security issues. "It's melding of existing technologies, nothing super-
duper, just a greater use of things like global positioning satellites,"
said Nacht, who has studied the nation's seaports. In a report he wrote for the Pacific Maritime Association
last October, shortly after the Sept. 11 attacks, Nacht recommended a
series of upgrades to port security. Among them: portwide biometric smart-
card ID systems and the use of container seals that can be read electronically
to detect tampering. Bay Area companies are among firms designing and making such
equipment, much of it originally developed for use by the Pentagon, which
transports most of its equipment by sea. For example, electronic seals made by Sunnyvale's Savi Technology
are in use as part of the Smart and Secure Tradelanes Initiative, a program
begun last summer by the U.S. Customs Service and Department of Transportation
to track and secure shipments headed for major U.S. ports. Broken seals
can be detected by radio and satellite systems linked to Web-based software,
Savi spokesman Mark Nelson noted. E-mail David Armstrong at davidarmstrong@sfchronicle.com. Equipment Leasing Association San Francisco Conference Over 1,000 Registered
Starts this Sunday Full list with complete attendee information only available to those attending the conference. Leasing News will have daily reports on this important conference. ############ ################################## ESTABLISHES
LEASE ADVISORY SERVICES UNIT UNDER
DIRECTION OF STEVEN T. DIXON SUPERIOR, Colo., USA Key Equipment Finance, one of the nation's largest bank-affiliated equipment financing companies
and an affiliate of KeyCorp (NYSE: KEY), has announced the formation
of a Lease Advisory Services group. This financing team will focus on
providing manufacturers' captive leasing and finance companies with
efficient funding through securitization and other liquidity alternatives as
well as advisory services regarding acquisitions, divestitures, syndication
and capital formation. Key's Lease Advisory Services team was part of
Key Global Finance, formerly Key's merchant banking unit. The newly
established unit will operate from Irvine, California, under the direction
of Steven T. Dixon, managing director. Rian W. Emmett and James R. Carney
serve as vice presidents, and Gia M. Matthews is an associate. "The establishment of the Lease Advisory
Services team expands the breadth of capabilities offered by Key Equipment Finance,"
said Paul A. Larkins, president and chief executive officer. "The
addition of quality advisory services delivered through highly experienced individuals
adds to our value as a financial services provider and furthers our
goals of presenting the broadest array of profitable lease products
and services to our clients." Steven T. Dixon,
managing director, began his career in corporate finance and leasing in 1973. He joined Key Global Finance
in 1997 as managing director of lease securitization and was responsible
for delivering an array of funding products primarily to finance
and leasing companies. His experience includes equity syndication, structuring
tax deferrals, creating multi-tiered debt and securitization
structures, lending against residual positions, providing synthetic and
tax-oriented lease products and successfully managing several operating
lease portfolios with significant residual exposure. In 1993 Mr. Dixon was
responsible for starting a capital markets unit for Citicorp Securities,
Inc., where he managed a unit providing funding solutions to leasing and
financing companies nationwide. Mr. Dixon earned his bachelor degrees
in art and science at Central Missouri State University where he majored
in business administration. He is a NASD General Securities Principal. Rian W. Emmett,
vice president, began his career in equipment financing in 1979. He joined Key Global Finance as vice president in
1997; his primary role was to provide funding solutions to originators
of leases and loans. Prior to joining Key, Mr. Emmett spent ten years at
Citicorp where he focused on national equipment finance and leasing. In
1993 he was named vice president of Citicorp Securities, Inc. and delivered
various funding solutions to issuers of loans and leases. Mr. Emmett earned
his bachelor of science degree in economics and business from Edinboro University
and holds Series 7 and Series 63 securities licenses. James R. Carney,
vice president, has over 20 years of experience in the financing and leasing market. Formerly vice president, originations,
for Key Global Finance, Mr. Carney offered a combination of tax-advantaged
and structured lease products to large corporate clients in the
western U.S. Prior to joining Key in 1995, he worked with USL Capital
originating true lease and finance transactions. Mr. Carney has extensive
experience in structuring true leases and synthetic leases and working
with clients in preparing lease-versus-buy analyses. He received his bachelor
of arts degree in finance and marketing from the University of Washington
and his masters in business administration in finance from the Albers
School of Business at Seattle University. Gia M. Matthews,
associate, joined Key Global Finance in 1997 and was responsible for coordination and administration of portfolio
purchases under Key's multi-seller securitization program. She also
coordinated fundings and assisted in the risk management and settlement
processes for single issuer securitizations. Before joining Key Global
Finance, Ms. Matthews worked as a portfolio manager within the capital
markets unit of Citicorp Securities. She earned her bachelor of science degree
in business and information systems from the University of Phoenix. Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY)
and provides business-to-business equipment financing solutions to businesses
of many types and sizes. They focus on four distinct markets: · businesses
of all sizes in the U.S. (from small business to large corporate); · equipment manufacturers,
distributors and value-added resellers worldwide; · federal, state
and local governments as well as other public sector organizations; and · lease advisory
services for manufacturers' captive leasing and finance companies. Headquartered outside Boulder, Colorado, Key Equipment Finance
oversees an $8 billion equipment portfolio with annual originations of
approximately $3 billion. The company, which operates in 25 countries and
employs more than 600 people worldwide, has been in the equipment financing
business for nearly 30 years. Additional information regarding Key Equipment
Finance, its products and services can be obtained online at KEFonline.com. Cleveland-based KeyCorp is one of the nation's largest bank-based
financial services companies, with assets of approximately $83 billion.
Key companies provide investment management, retail and commercial banking,
retirement, consumer finance, and investment banking products and services
to individuals and companies throughout the United States and,
for certain businesses, internationally. The company's businesses deliver
their products and services through KeyCenters and offices; a network
of approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU);
and a Web site, Key.com, that provides account access and financial
products 24 hours a day. lisa.a.miller@key.com # # # # # ================================================== ------------------------------------------------------------------------------------- Look for major news from the first leasing co-op, One World
Leasing. Twelve members participating, warehouse lines and regular
lines of credit. Major announcement expected soon. ----- Johnnie Johnson from Kuwait Thanks for forwarding the information request from A'ayan.
In fact, the formation of a leasing organization here in the Middle
East has been gaining momentum for some time.
The International Leasing & Investment Co. (ILIC) has, as one
of its corporate mandates, to encourage and spread the use of leasing
in this part of the world. We have been working over the last year on preliminary plans for
the organization and operation of such a leasing organization. We were pleased to hear that A'ayan was thinking
along the same lines, and I have set up a meeting with A'ayan to coordinate
our efforts. While the published statistics do not reflect any great activity,
there is actually substantial leasing business done here in the Middle
East--and the volume is growing. However,
there are many issues regarding leasing in this part of the world
that could be facilitated through the activities of a recognized
leasing organization. I will keep you posted on future developments. Again, thanks
for passing on Mohammed's e-mail. Johnnie W. R. Johnnie Johnson, CLP Exec. Vice President/Chief Operating Officer The International Leasing & Investment Co. P. O. Box 3716, Safat 13038, Kuwait Phone: 965-244-0368 FAX: 965-246-3190 E-Mail: johnson@ilic.net ------------------- Hey Kit: I agree with Barry on format. For your readers who may be new to your work, it helps to see the headlines where you would normally expect
to see them. Hope all is well. David David G. Mayer Patton Boggs LLP 2001 Ross Avenue Suite 3000 Dallas, Texas 75201 Tel: (214) 758-1545 Fax: (214) 758-1550 Author of: Business
Leasing For Dummies Publisher of: Business
Leasing News ----------- I agree with Barry Marks John Keating Sharpe Equipment Leasing jkeating@sharpelease.com 623-934-1340 or 800-886-4920 Direct 480-730-7952 ---- I note that the recent Leasing News article appearing under
the headline "Microsoft Enters Leasing Fray" by Christopher
Menkin shares some (word for word) similarities with another article entitled "Microsoft
Forms Microsoft Capital" authored by Marcelo Prince of Dow
Jones Newswires. The DJN article is dated October 3rd. Comments? David McNeil National Leasing Group : David_McNeil@nlgroup.ca You will see this often, especially in Associated Press stories. Sometimes if it is considered "unique," the source
is quoted, as I did to the information from the New York times. Often information is generated by a press release. Or perhaps even a “press conference.” The
quotes were shared as was other material. The reason I put my name was since I obtained information
from many different sources. It is not to take credit, but my
responsibility for accuracy and not the others---as they did not write the story. I am
sure if the story came in entirety from Dow Jones, it may have had more
“creditability. “ If it is important to attribute the source, it is often done
and you will note other newspapers or publications are often noted with
quotes or without quotes around the material ( depending in verbatim or
not.) You will also see stories that I write without my name.
In the newspaper industry, they are stories without an opinion. It is from the staff
of the newspaper. The writer’s name appears if it is an exclusive, has a “viewpoint”,
especially opinions, and when it is the combination of many sources---direct
or indirect, such as other publications, and it not fair to say it is
a “Boston Globe” story if you have specifically changed what is included,
not included, added or subtracted, or basically did a “re-write.” . If I do not make any changes in the story, it is printed with the writers name, if noted, and
the source, such as the Washington Post or Wall Street Journal. It is not only proper to do this, then the reader knows the specific source and validity of
the story. The story I wrote came from many sources, including Dow Jones,
Microsoft, my knowledge, two readers who gave me some inside news and
did not want to be quoted, and was a combination of these. To state it was a “Dow Jones” story would not
be fair to them. We may have shared similar quotes, such as in a press
conference or press release, but in reality came from many sources. Readers should also be aware if the story is a press release,
we do not change any of the wording and put #### in front and at the
end to show readers it is a press release, written by the company
who sent it. Coda: When I was
writing the story of the closing of Colonial Pacific Leasing, I could get no information from the General Electric Press
Department. They never heard of CPL in Portland, Oregon ( I also got the impression
they didn’t know where Portland was---seriously ). It was really
small potatoes to them. No one else was asking for a statement, only Leasing
News. Curt Lynse nor anyone at CPL would give me information on or “off
the record,” as they did not want to jeopardize their severance pay. Curt did call GE,
set me up with a press person, who in reality knew nothing about CPL, would
get back to me, but never did. They didn’t care. It appeared we were
the only one interested in a “quote.” In calling Microsoft, their PR department ironically is in
Portland, Oregon, and I had to go through several people just to get any
information. Both GE and the Microsoft PR Department personnel were very nice, cooperative,
trying to be helpful, but they just don’t get calls about “equipment
leasing.” I must admit Microsoft called me back several times and was
as helpful as they could be. All the rest of the media waits for press
releases, and prints them automatically. Unless it is a big scandal on
the front page of the New York Times, for instance, the only ones who
care about this news are quite a minority. Editor --- Hi Kit: I am proud to say that I have never watched any of the Top
10 Rated TV Shows. Keep up the good work and let me know how that Nigerian Laptop
lease goes. Steve Fix LeaseSource, Inc. Equipment, software and website financing for business 770 395 0140 or 800 422 8328 spfix@leasesourceinc.com (Not even “Monday Night Football,” “60 Minutes, “ “CSI” or
“Law and Order?” I hope you are then watching at least the Food Network or
History Channel or the Discovery Channel. The Nigerian Laptop story was real,
I was told, and they were not asking for money, but a lease for 1,000
laptops. The Kuwait story was real, too. Editor
) ################ ########################## Universal Express -USXP- To Acquire ATM Paycard LLC NEW YORK----Universal Express, Inc. (OTC BB:USXP) today announced
the signing of a letter of intent to acquire a majority interest in ATM
Paycard LLC. ATM Paycards' product offerings may be viewed at their websites:
www.americascard.com and www.atmpaycard.com. "This acquisition advances our recent entry into the
exciting stored-value Visa and ATM debit card arena. Complimenting the
programs being developed by the Universal Express subsidiary Swiss American
Financial Corp., ATM Paycard has established an impressive product line
and distribution method for ATM debit cards and stored value Visa(R) cards.
USXP CashExpress(R) card and additional products will be offered through
numerous conduits as well as being offered through the Private Postal
Network with its' nationwide exposure" said Mr. Richard Altomare,
Chairman and CEO of Universal Express. "There are tremendous opportunities in this sector of
the credit card/debit card business. This acquisition broadens our capabilities
and infrastructure to support the tremendous growth for this product while
incorporating the leadership of the ATM Paycard management team who presently
have an exceptional product available. This acquisition will provide a
significant impact on the ability of Universal Express to take a leading
role in this burgeoning market" stated David Russell, President of
USXP Capital. "ATM Paycard currently has numerous national distribution
alliances providing a significant volume of card issuance which would
be significantly enhanced by the brand recognition and distribution capabilities
of the postal store members of the nationwide Private Postal Network"
said Brett Hudson, CEO of ATM Paycards LLC. He continues, "The USXP
CashExpress(R) card will be recognized as the preferred method of domestic
and international funds transfer, payroll alternative, and debit card/credit
card option of consumers nationwide, including those with unacceptable
credit. In combination with our current product line (Americas First(R),
ATM Paycard(R), etc.), Universal Express should realize significant marketshare
in this credit niche." The prototype of the USXP CashExpress(R) card may be viewed
at www.usxp.com Universal Express, Inc. owns and operates several subsidiaries
including Universal Express Capital, Universal Express Logistics (including
VirtualBellhop, WorldPost and Luggage Express) and the Private Postal
Network. These subsidiaries provide the private postal industry and consumers
with value-added services and products, logistical services, equipment
leasing and cost-effective delivery of goods worldwide. More information
and website locations are available at www.usxp.com. CONTACT: Equitilink Mr. Ron Garner, 877/788-1940 One of my favorite TV shows is “Inside Actor’s Workshop”
on the Bravo Channel. Hosted by James Lipton, he asks his guests at the
end of the interview these ten questions (which were asked to both the Top Gun
Sales Men and Sales Manager Panels): 1. What is your favorite word? 2. What is your least favorite word? 3. What turns you on or what is your favorite thing? 4. What turns you off? 5. What sound or noise do you love? 6. What sound or noise do you hate? 7. What is your favorite curse word? 8. What profession other than your own would you like to
attempt? 9. What profession would you not like to do? 10. If Heaven exists, what would you like to hear God say,
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