|
|
 |
 |
 |
|
|
|
|
|
Kit Menkin’s Leasing News www.leasingnews.org Tuesday,
September 3, 2002 Accurate, fair and unbiased news for the equipment Leasing
Industry --posted daily at www.leasingnews.org--- Friday Leasing News posted at 10:20 am PDT ( no Monday edition
) ---------------------------------------------------------------------------------------------- E-Mail Removal Form: http://65.209.205.32/LeasingNews/removalform.asp Welcome Back--- Those on vacation last week, three new changes: 1. The date of the
posting of the previous daily leasing news to the website is now posted. Those who want to click on headlines to get
to the story, you have a general idea when that is available. Fahima Khan has
changed her hours and now comes in at 8:30am. Her first job is to post Leasing News. 2.”Pictures from the Past” has been running a week. Since
we send it text, it is now only available on the website. Perhaps we
should put the links on the text edition, too. If you have some old pictures you want to share with your colleagues, please send in by
e-mail or by regular mail ( they will be returned. ). Oh yes, we will
keep the collection right above “Top Stories” on the web site. 3. Classified ads have been brought to the daily top in an
effort to help people find jobs. Each day four of them are highlighted. In an effort to conform to the anti-spam programs, we are
highlight our e-mail removal procedure.
It appears more and more service providers are treating “mass mail” as spam. We don’t solicit directly, and as soon as we can identify how the person added their name, we delete
them from the mailing list---every day. We grow at about ten new readers a day, all by referral by readers such as yourself. Kit Menkin -------------------------------------------------------------------------------------------------- Pictures from the Past
-------------------------------------------------------------------- Classified
Ads here are four from: http://65.209.205.32/LeasingNews/JobPosting.htm Funding: Northern, NJ Coordinate all aspects of financing for leased equipment,
prepare necessary documentation for discounting with banks.Handle renewals
of and amendments to lease schedules. Email:istaub@unicapitalcorp.com Legal: Chatsworth, CA Managing attorney for general corporate and financial services
law including: leasing, acquisitions, service agreements, commercial loans,
securitizations, workouts and litigation. Email:SandiDQ@msn.com Operations: Phoenix, AZ 15 years of increasingly responsible positions as a financial-marketing
manager in commercial leasing, credit, and collections. Extensive experience
in leasing and accounts receivable portfolio management. Email:williamdoughty@hotmail.com Operations: Experienced Credit, Collections, lease and Finance
operations. Manager w/ expertise in improving bottom line performance,
excellent trainer, manager, motivator. Get result/ keep the customer coming
back. Email:rgmorrill@comcast.net Headlines--- Georgia Alert----Southeastern Casket/Carpet "It's
NOT All About Networking!"---eLNA Conference
“Zep” Sales Tax Project Meeting September 26-27,
Milwaukee, Wisconsin The List to be up-dated this week -------------------------------------------------------------------------------------------------------- Georgia Alert----Southeastern Casket/Carpet We have been working on a deal in Georgia that we determined
to be fraud. Further investigation uncovered a fraud ring in Georgia. This group has taken on 20+ identities and are real good.
There were multiple ways to identify this as fraud. First, when we call the Secretary of State to verify a corporation we try to ask if there are
any name changes. I recommend
this always. The company, Southeastern
Casket Company, used to be Southeastern Carpet Cleaning only 6 months
prior. This was a huge red flag. The
second way was to look real close at the D&B. If you understand how a D&B is put together, one can understand
which parts can be manipulated by the customer and which parts can not.
This D&B did not look "iron clad" so we dug further. Internal statements provided by the customer listed expenses that ended in 0 or 50. The odds of this are 0. Phone bills, utilities etc do not end in 00.00. It was obvious someone was lazy. The internal
statements did match the tax returns.
Most of the trades were voice mails and so was the bank. We also called info to determine through the banks main number that the number we
had was not related to them. Calling
info to verify banks is a excellent was to sift our fraud. While
it takes time and money, it pays off.
Through the use of reverse directory and quick trac we also determined that
the vendors, CPA's and lessee were somehow intertwined. This group was good. I
am grateful to our excellent staff.
A major underwriter took 2 hits on this deal and they have also determined
it to be fraud. Extra due
diligence ALWAYS pays off. If
you have any concerns or questions, please call.
My understanding is the FBI is on this and if I can help your firm I will. -Paul von Bruck Capital Funding Group 888-468-5822 x 208 paulv@leaseapp.com --------------------------------------------------------------------------------------------------------- “It's NOT All About Networking!” Alan J. Zeppenfeld Reports
from the eLNA Conference.
Annual Networking Conference August 28-30 | Atlanta, GA The Ritz-Carlton, Buckhead At last, writing without a deadline. Kit and I had an agreement this year. For the
days of the eLNA conference I would be a reporter and report what I saw
at the conference, and when it was over I could be a writer and write
what I felt about the conference. One
significant difference between the two is being on deadline as a reporter,
but Kit was very accommodating about that.
He informed me that he puts Leasing News out at 1:00 am PDT, so
I really had until 4:00 am EDT to submit my article. What a relief that
was!!!! There was a lot of talk at the conference about "evolution
not revolution", and I was very impressed by the evolution of the
conference itself. Last years
focus on "integration" was carried forward to this year's conference,
and the companies selected to present this year moved us forward one more
notch. We had some new high use
terms; XML, wireless, relationship-centric and a few others seemed to
be the focus of discussion. There
was a good mix of companies that had been at all the conferences, and
those that were there for the first time.
Those in attendance were clearly focused on gaining the maximum
from the two days, and it was obvious that in terms of the leasing industry
"they would be at the head of the table when the economy turns". Someone once said that all great achievements happen because
of a "monomaniac with a mission", a person totally focused on
accomplishing a particular objective.
I apply all the positive meanings of that to John Semon and his
quest to develop what he has entitled "The Network".
John knows where he wants to take eLNA and The Lessors Network,
and he is not afraid to try new things, nor reluctant to put in the extra
effort. The shift to having only individual memberships, and crediting
the membership dues to the conference registration is leading edge in
the association world. As I sit here and reflect on the conference, one presentation
is still very strong in my thoughts, the Lessors Leadership Roundtable. Billed as an "elite group of senior level
business executives, representing the top tier Lessors in our industry",
this group delivered as advertised and more. David Kuncio told us that CitiCapital had a
mission to be in the top 3 in any market they chose to be in and used
strong metrics to measure their effectiveness.
Rodney Darensbourg impressed us all with the fact that UPS delivers
14 million packages per day to 1.2 million customers. Bill Kell gave us
a great look at the strategies that got Fleet Capital Leasing to $6 Billion
in volume. But it is John Beville that I remember the most. In the middle of his presentation on the great
strengths of SunTrust Leasing, he diverted and gave us all something to
think about. John said that we
need to keep in mind that there are a lot of great people that deserved
to be at the conference, but couldn't attend because of what has happened
in our industry. As I looked around
the room, I could see the nods of agreement because everyone had some
direct experience or knew someone that had been affected by situations
such as the big being taken over by the bigger, poor management decision
making, or corporations that couldn't decide what direction to take. Talented
people who had hit roadblocks in their careers through no fault of their
own. John reminded us that we should feel lucky about being employed
and accept an obligation to assist those that are not. Certainly for eLNA
it's all about networking, but in the larger scheme of things, It's All About People!! Congratulations and Thank You to John Semon and the eLNA
staff for another winning conference. AJZ (Thank you for your two timely reports and this wrap-up.
The conferences are very well attended each year, which is another sign of
their success. editor ) Pictures from
the Thursday at the eLNA Conference . Cornerstone Software - Tammy Cosseboom, Mike Friedman,
Ann Richards Alan J. Zeppenfeld Reports
from the eLNA Conference.
William S. Cowden, Jr, Reid Watts, Charles Sellman, Sam Rozenberg
David Kuncio
Rodney Darensbourg, John
Beville, J. William Kell, Larry Smircich, David Kuncio
( they will be posted on line ) _________________________________________________________________ September 3 MONDAY None September 4 TUESDAY None September 5 WEDNESDAY Construction Spending: July September 6 THURSDAY U.S. Productivity2nd Qtr. final Factory Orders: July Sales of Leading Retailers: August Weekly Jobless Claims September 7 FRIDAY Unemployment: August. ----------------------------------------------------------------------------------------------------- "Top Gun" Ignacio Sanchez, CLP October 5, 2002 San
Diego United Association of Equipment Leasing Annual Conference
and Exhibition "Top Gun" Leasing News will
present two workshops 9:45am "Top Gun Salespeople" They continually earn over $250,000 a year, according to their W2. Get a clear picture of how they got started, what propels them each step of the way to becoming a "partner"
and also earning the profits and net worth of the company.
What makes them different, how do they approach sales, none have appeared in a conference workshop before: “Top Gun” Ignacio
Sanchez, CLP
I grew up in Southern California and attended both San Diego
State University and California State University, Fullerton. I started working for Balboa Funding Group in Jan 1990 right
after I graduated from California State University, Fullerton where
I graduated with a BA degree in Business Administration with my emphasis in
finance. I started out as a Junior Account Executive where I was taught
leasing by Jim Raeder, Shawn Giffin And Mark McQuity, I became an account
executive in June 1990. In Jan 1993 I became the Sales Manager for the Irvine
office and served as sales manager for almost 4 years. As sales manager was in charge of all Irvine sales operations and at times funding, credit
and training of new sales reps. Even with
all my responsibilities I continued to sell and was in the top 3 in sales for Balboa Capital every year.
In 1995 I became a CLP. In 1997 I stepped down as Sales Manager and went back
to selling and training Jr. account executives. I continued selling there
until I quit in 1998 because there was no chance of ownership. I received a base salary, car allowance plus 30% of all profit
on both the front and back end of my transactions. In 1998 I started TriStar Capital, LLC with my brother Mike
Sanchez who was with Balboa for 5 years and Banc One leasing for 1 year and
Robert Hendrix who was the National Sales Manager at Balboa Capital. I continue
to sell and run the company with my partners. In the 4 years we have
been in business we have grown rapidly and funded about 20mm in equipment cost
in 2001. We hope to grow by at least 25% this year. Ignacio Sanchez, CLP Vice President TriStar Capital, LLC 714-667-6800 -------------------------------------------------------------------------------------- Sales Tax Project Meeting September 26-27, Milwaukee, Wisconsin The next Streamlined Sales Tax Project meeting will be held
at the Hyatt Regency in Milwaukee, Wisconsin on Thursday and Friday, September
26 and 27. This will be a meeting of the Project only; Implementing States
will not be meeting at this time. A continental breakfast (for all participants) will be available
at 7:30 am. The meeting will begin
with a Government-only, Combined Work Group session on Thursday morning
at 8:30 am. This morning discussion
is closed to the public. Following
lunch (for all participants) on Thursday afternoon, the private sector
can join the meeting at breakout work group sessions.
Friday morning will be devoted to breakout work group sessions,
and there will be a Project meeting open to all on Friday afternoon. The following subjects will be covered in the breakout working
groups: exemption processing, auditing, technology, telecommunications,
bundling, digital property, and sourcing. The exact timing will be determined
shortly. The meeting will be held at the Hyatt Regency Milwaukee located
at 333 W. Kilbourn Avenue in downtown Milwaukee. A block of rooms has been set-aside for the
nights of Sept. 25-27. The rate
is $110 single and $120 double. To
make your reservations, please contact the hotel at 414/276-1234 or 800/233-1234. Be sure to indicate that you are with the FTA
Streamlined Sales Tax Meeting. The
FAX number of the hotel is 414/276-6338. There will be a registration fee of $175 for this meeting.
The fee will cover (for all participants) a continental breakfast
on both Thursday and Friday, lunch on Thursday and a dinner event on Thursday
evening to celebrate Project accomplishments and to honor some of its
fine leaders. [More information to follow.] Friday lunch will be on your own in one of
the many great places downtown Milwaukee has to offer. You may register
online at <http://www.taxexchange.org/meet/0902sstp.taf> Dennis Brown Equipment Leasing Association ----------------------------------------------------------------------------------------- good Gene Callison taylorleasing@oblfinancial.com you outdid yourself, great newsletter today, thanks, Charles. Charles Ledgerwood Regional Sales Manager Variant Leasing Corporation San Juan Capistrano (949) 248-4900 --- I don't know about you.....but those greedy millionaire crybabies
(on both sides of the table) really p**sed me off. BC Yippee! Cubdom is
saved. Now all we need to do is win 34 of our remaining 30 games to insure another 90 win season, guarantee 4th place
in the Division and possibly even finish 3rd in the Wild Card chase.
Wow! What a year. Also this weekend we will make more Cubbie history. On Saturday the Cubs and Cards play a day/night doubleheader. The nite game
is the history part as it will be the first Saturday nite game in Wrigley
Field history. They expect 40,000 in the park and 150,000 outside making
it the worlds largest beer garden, partially explaining why its the first,
and probably the last Saturday nite game. All kidding aside, the tragic death of Darrel Kile resulted
in cancellation of a game earlier in the season which resulted in the nite
tilt being scheduled. Have a happy and safe weekend. Ken Duffy -- I am sorry. I thought
this was Leasing News - I think you have went way off base from where this newsletter started. Remember when it was all industry related? You should
go back to the basics and what got your readership where it is today. James Hurst (Well, I was excited about the news, and wanted to share
it with everyone. After writing about all the bad news, looking for some good
news, I thought I would share this with an extra about the baseball strike
being averted. Many readers don’t have a radio on (I don’t, unless in the
car ). I got the inside news a half hour before the news conference. I am sorry if it bothered you. But to go back to the beginning? We would send out more announcements like these, and sometimes two leasing news reports a day. We
then evolved to an on line version in html ( available on our website
), often with pictures, and other features such as The List, Books, Bulletin
Board Alerts/Associations/Cartoons, Whateverhappened to/eLease and then came Classified Ads.
So to go back to the “beginning,” had more “extra’s,” “Sunday Sermon,” and even “jokes.” I do appreciate your feedback, but if you don’t like the
“extra’s,” just delete it. Also you
can read Leasing News on line with a click on the “headline” to go to the story you want, and don’t open those
that you don’t like. Baseball strikes don’t happen often, and
it would have a psychological affect on all of us, and financial one,
too. We have grown from sending to a few friends, to several hundred, to a few thousand, and now five thousand. Jeff Taylor has a mailing list of 14,000, so in comparison, we have much more potential growth and the new features bring us more readers. With the early news edition, we have all the scores and news
and items from newspapers you don’t often read as you don’t live in the
city, so it has become a popular feature, according to other feedback I have received. I am sorry you
don’t like the baseball news. How about football? Editor. Tokyo stocks close at 19-year low, dollar lower against yen TOKYO (AP) Tokyo's key stock index closed Tuesday at 9,217.04
points, a 19-year low, despite government reassurances that Japan's economy
has bottomed out. TOKYO) - Tokyo's Nikkei average slid three percent in late
afternoon trading on Tuesday to a fresh 18-year low as banks and other
major blue-chip issues tumbled on worries over the dimming economic outlook
in Japan and the United States. The Nikkei average (^N225 - News) was
down 3.01 percent at 9,234.97 as of 0550 GMT, its lowest since November
1983. -- West Coast dockworker contract not extended, talks break
down OAKLAND – West Coast ports marked Labor Day by bracing for
possible labor disruptions later this week after weekend talks over a
new contract broke down between shipping lines and the dockworkers' union.
Each side gave different reasons for the impasse, but its effect was clear
– as of 5 p.m. Sunday, there was no contract covering the dockworkers
at 29 major West Coast ports who handle the booming Pacific Rim trade. -- Union workers rally in LA to support dockworkers LOS ANGELES (AP) With labor unrest looming at West Coast
ports, the Rev. Jesse Jackson told thousands of union members Monday to
``stand your ground'' in a rally in support of dockworkers. Consolidated Freightways filing for bankruptcy protection -- SEATTLE (AP) After bleeding money for the past several years,
73-year-old Consolidated Freightways, which has terminals in Massachusetts,
announced it would lay off 15,500 workers and file for Chapter 11 bankruptcy
protection. -- United selects oil industry exec Glenn Tilton as CEO pickup. CHICAGO (AP) United Airlines named veteran oil executive
Glenn Tilton its new chairman and CEO on Monday, reaching outside the
airline industry in its effort to keep the ailing carrier out of bankruptcy.
Oh,Boy! Remember when Apple Computer
chose John Scully from Pepsi Cola? -- ------------------------------------------------------------------------------------------------ E-Mail Removal Form: \http://65.209.205.32/LeasingNews/removalform.asp +++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe, Unsubscribe, Make Changes E-Mail. You may subscribe
by using the contact form at LeasingNews.org or by contacting me directly
at kitmenkin@leasingnews.org. If you change your e-mail address, please don’t forget to
notify me. If mail comes back more than a few times, we will delete the mailing
address ( usually every five days .) If you would like to be deleted, the list is kept under your
first and last name or how you asked to be listed ( not your URL ). Either use the contact form or e-mail directly or go to: http://65.209.205.32/LeasingNews/removalform.asp
. Changes are made daily, including additions, corrections, and removal
when the right information is provided. There is a trend for Spam programs for workstations and networks.
In addition, some companies block their employees from receiving news
from us. If you have stopped receiving
Leasing News, it may be due to being blacklisted. You can correct this by using another e-mail address. If a “Spam” issue, on your workstation, you
will need to “delete us” from your filter. Most programs allow you to make exceptions to what the program considers “Spam.”
If done by your carrier, you will need to contact your carrier or the
“relay carrier” to allow our e-mail.
It is our experience, once named, we cannot contact you , meaning
we can’t tell you that our mail is being rejected. Your carrier will make
changes when contacted by the subscriber, not by us. If we are being block, go to www.leasingnews.org for the on line edition.
Each edition is normally posted to the website ( www.leasingnews.org
) at 10pm, PDT. The e-mail is sent out very early in the morning. ++++++++++++++++ ++++++++++++++++++++++++++++++++++ Policy Statement Policy Statement---Nothing is sent out that is not “fair.”
Always unbiased reporting. Fairness always. If it is questionable, we
will ask the writer’s permission to quote them. We will print information
without attribution, but feel as long as we do not name the person who
sent it, we can use the information. Any information we think is suspicious, we try to have if
substantiated first by at least two reliable people. We will not purposely
send out “negative” news. We prefer “positive” news. We have no “axe” to grind or are
not paid or seek or accept any
remuneration for product or promotion. We do not Spam anyone. To be added to the mailing list, you must request
it. We do not send anything about our company or personal e-mail or jokes to the leasing
news list. We do not share our mailing list with anyone. We try not to
send more than one report a day, if at that, unless an “alert.” We follow Internet Netiquette
at all times. Our sole purpose is to provide communication to improve
our profession. We reserve the right to deny sending the newsletter when
requested. We reserve the right to edit or delete an opinion that is not in good taste or is outright derogatory. Leasingnews.org |
|
