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Kit
Menkin's Leasing News www.leasingnews.org
Tuesday, September 24, 2002 Accurate, fair and
unbiased news for the equipment Leasing Industry Monday's Leasing
News posted www.leasingnews.org at
10:50am PDT ---------------------------------------------------------------------------------- e-Mail Removal
Form: \http://65.209.205.32/LeasingNews/removalform.asp ----------------------------------------------------------------------------- Pictures
from the Past
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Email:rick@mediacap.com for complete list
go here: http://65.209.205.32/LeasingNews/JobPostingsWanted.htm ========================================================================================== Headlines--- Eastern
Association of Equipment Lessor Conference Report
Steelcase $2.2M + last Q/ $133.2M loss
Q 2001 Sting
of Last Year's Recession Not as Mild as Many Thought California
housing prices rise and show no signs of slowing down Berkeley
Law firm out $2.1 million in Nigerian eMail Top
Gun Sales Manager Brad Kissler--Balboa Capital UAEL
Annual Fall Conference & Exposition 2002 Equipment
Leasing Association Conference Up-Date Mid-America
Association of Equipment Lessors Meeting Nov.
9th NAELB Meeting Marina del Rey Details-Cost $95 any assoc. member Middle
Eastern descent Collection Calls---- MicroFinancial
Inc. Announces Quarterly Dividend ORIX
Financial Services Uses Int. Decision Systems ##### Denotes Press Release --------------------------------------------------------------------------------------------- Eastern Association of Equipment Lessor Conference Report by Steve Geller Senior Leasing
Advisory Director, Leasing News The EAEL Fall Expo, referred to by past EAEL President Peter
Ferrara as the "crown jewel of the leasing industry", was
held in East Rutherford, NJ on Monday, September 23, 2002. Attendees totaling over 210 registered for the meeting which attracting brokers and lessors,
funding sources and service providers from all around the country.
The mood of the attendees was one of acknowledgement of the difficult
economic times we are witnessing and the need to get back to basics and
wait for the pendulum to swing back.
No one would boldly predict when these conditions will improve but we have to work smarter and protect
the smaller number of funding sources that are the suppliers
of capital to the industry. The meeting opened with a welcome by Arnie Hogler, EAEL President,
of Leasing Technologies International, and promotion of upcoming association events, the Holiday Party to be held on World
Yachts December 14 and the annual conference in Washington, D.C.
April 23-27, 2003. Conference Chairman, Dennis Horner of The Equipment
Leasing Company gave some brief remarks and the day was off and running.
A panel discussion entitled "Where Are We Now?" started
the morning with presentations moderated by Chip Leas, OFC Capital and panelists
Bob Fine, Gramercy Leasing, Deb Monosson, Boston Financial, Brian
Bjella, Manifest and Jim Jenco, Interchange Bank. The theme of the panelists was the need to work together with suppliers of business
and a clear line of communications. Questions and answers followed. Three morning sessions followed. Linda Kester, Institute for Personal Development, gave a presentation that she has perfected entitled
"New Voice Mail Techniques and Other Tips for Prospecting."
A Business Ethics panel of Attorneys Bob Tils of Morritt, Hock, Hamroff,
and Rich Weiner of Aronsohn, Weiner, Carl Anderson of M&T Bank,
representing funders and Barry Reitman of Keystone Equipment Leasing,
representing broker/lessors, was moderated by Attorney Mike Leichtling,
of Jenkins Gilchrist. A lively
discussion was held with many parties on the panel and in the audience questioning the defining of ethics and
how in practical terms to determine the proper way to react to certain situations. The parties
concluded that ethics is the ability for "doing the right thing' which is ingrained and not something that
can be taught in a graduate school course. The technology session was moderated by Randy Haug of LeaseTeam with panelists Jim Humphrey, LeaseTeam,
Bill Wade, Classic Financial Systems and Gary Shivers of Marlin
Leasing. Favorable comments were heard form attendees at that session
entitled "How are Progressive Leasing Companies Using Technology
Today to Improve their Business." Afternoon sessions, "How to Get Your Leases Funded in
a Tightening Economy" was timely. Moderated by Steve Schachtel of
Lakeland Bank, the panelists were Tony Perettine of All Points, Bob Ingram of
Sterling Bank, Ken Seip of MarCap and Marci Kimball-Slagle of ACC.
Bob Baker of Wildwood Financial gave his old reliable presentation "The
Old Ways Don't Work-Marketing to Vendors in Today's Environment"
and Shawn Halladay of Carpediem International presented an SEC Update
review of reactions and contemplated changes. Two late afternoon presentations were given. Jeff "I wish I wasn't taking the CLP examination"
Taylor's "How to Lead Sales Professionals and win More Business"
was on the money in these tough economic times. Attorney Frank Peretore of
Peretore and Peretore, refereed the "Family Feud-Attorneys versus
Collection Agencies", a discussion of a hypothetical delinquency
case study in which the attorney panelists Tony Lamm, Groen, Lamm and Rich
Feldman of Evans, Feldman advocated quick use of attorney representation
while funding source panelists, Brian Bjella, Manifest, Gary Souverein
of Pawnee, and Ray lavin, CLP of Standard Professional explained
the utilization of in-house collection staffs, and Arnie Olsen
of Nassau Asset Management promoted the use of outside equipment evaluators/inspectors. A good-natured battle took place with
significant audience participation between the attorneys and non-attorneys
in hot debate. Throughout the day the funding source and suppliers booths
remained open and were busy. By
the nature of the EAEL this day is always one of camaraderie, networking and meeting new friends. On that score and judging by the sessions and the comments afterward, this
day was a rousing success, not only for the EAEL, but for the leasing
industry as a whole. Steven B. Geller, CLP Leasing Solutions LLC 20 Dike Drive Wesley Hills, New York 10952 845-362-6106 fax 845-354-2803 cell 914-552-0842 www.leasingsolutionsllc.com --------------------------------------------------------------------------------------- ######### ################################
################# Steelcase Reports $2.2 million increase from last Q/$133.2M
loss Q 2001 GRAND RAPIDS, Mich.---Steelcase Inc. (NYSE:SCS) reports that
revenue for its second quarter ended August 23, 2002, totaled $659.3 million, compared with
$792.5 million in the same quarter last
fiscal year, representing a sequential quarter increase of 2.5
percent over the $643.1 million reported in the first quarter. Acquisitions
completed in the last 12 months
contributed $51.8 million in revenue
in the quarter. Revenue continues to track substantially below historic quarterly levels due to lower business capital
spending levels and reduced industry-wide demand. Steelcase reported a second quarter net loss of $(7.3) million,
or $(0.05) per diluted share, compared with net income of $6.5 million, or $0.04 per diluted
share, in the second quarter of fiscal
2002. Beginning in fiscal 2003, the company adopted SFAS 142, which eliminates
goodwill amortization, and as
a result of this accounting change, second quarter reported net income
benefited by approximately $2.2 million or, $0.01 per share. Net income excluding non-recurring charges was $0.6 million
in the second quarter. This compares
with net income of $13.4 million, excluding non-recurring charges
in the second quarter last year. These
results compared favorably with the company's fiscal 2003 second quarter
guidance of breakeven to a loss
of $(0.05) per share, before non-recurring items, and reflect the benefits achieved from cost cutting initiatives previously
announced. Non-recurring charges affecting second quarter results totaled
$7.9 million after-tax. These charges
included business exit costs, severance charges, and were net of a gain
on the sale of certain non-strategic
assets. "We exceeded expectations and earned a small profit
before non-recurring charges this quarter,
despite revenue that is 36 percent lower than two years ago,"
said James P. Keane, chief financial officer. "Steelcase employees
around the world have been focused on reducing our breakeven point and
returning to profitability." "Our second quarter results showed meaningful improvement
over those in the first quarter," said James P. Hackett, president
and CEO. "Even in these difficult economic times we must improve
our profitability while guarding against cutting essential capabilities
for growth." Outlook For the balance of the fiscal year, Steelcase expects an
environment of increasing competitive pressure combined with continued
soft industry-wide demand. "Our outlook is consistent with recent
economic reports suggesting that North American business capital spending
stalled in August, as corporate bankruptcies, accounting issues and a
falling stock market reduced business confidence," said Mr. Keane.
"Leading indicators in our business, such as order rates and bid
activity point to a likely double dip that will begin with our third quarter
shipments and continue into the fourth quarter." The company expects that third quarter revenue will be the
lowest since the industry downturn began, and below the company's breakeven
point of $650 million. The company expects to incur a loss, before non-recurring
charges, in the range of $(0.05) to $(0.10) per share in the third quarter. "We are planning and implementing additional actions
that will further reduce our breakeven point over the next two quarters,
and position Steelcase to again be profitable beginning in the first quarter
of next fiscal year," continued Keane. In the third quarter, the
company expects net non-recurring charges in the range of $4 to $7 million after-tax. These charges assume
costs of $5 to $8 million after-tax associated with restructuring activities,
including additional salaried work force reductions, partially offset
by a net gain of $1 million after-tax on the sale of real estate. The company expects fourth quarter shipments to remain consistent
with third quarter levels, with higher overall fourth quarter revenue
due to an additional shipping week. Fourth quarter earnings per share
before non-recurring items are expected to be in the range of breakeven
to a loss of $(0.05). The company
estimates non-recurring charges of $8 to $12 million after-tax, related
to salaried work force reductions and other restructuring
activities, will be offset by non-recurring gains of $8 to $12 million after-tax related
to the sale of real estate. Mr. Hackett concluded, "We are taking actions we believe
are necessary to maintain our commitment to profitability, given that
the economic recovery has failed to materialize this year. We believe
the combination of our improved cost structure along with strong validation
by our customers of the importance of an integrated architecture, furniture
and technology solution, provides the foundation for renewed growth and
profitability in the future." Steelcase will begin to expense stock options in the first
quarter of fiscal 2004 in accordance with SFAS 123. CONTACT: Steelcase Inc. Investor Contact - Perry Grueber, 616/247-2200 Media Contact - Allan Smith, 616/698-1405 SOURCE: Steelcase Inc. ########## #################################
################## ---------------------------------------------------------------------------------- Sting of Last Year's
Recession Not as Mild as Many Thought By DAVID LEONHARDT New
York Times In speeches around the country, Federal Reserve officials
have helped turn the phrase mild recession into perhaps the most popular
description of the recent downturn. Measured by the output of goods and
services, the officials note, the recession that began early last year
looks like one of the weakest in decades. But in many of the ways that people and businesses feel swings
in the economy, the recession has hardly been mild. In some ways,
it has been worse than the typical downturn. The Standard & Poor 500-stock index has fallen more than
at any point since the deep recession of
the 1970's. Pretax corporate profits have dropped more steeply
than at any point since the double-dip recession of the early 1980's.
The nation's overall employment level has not grown in two and a half
years. This helps explain the problem that will greet those same
Fed officials when they gather in Washington today and decide whether to cut the benchmark
interest rate once again to encourage new spending. Despite reducing short-
term rates to their lowest level in four decades, the Fed has been unable
to turn around the economy once and for all. Instead, the economy looks weaker now than it did in the
summer and the possibility of war has created new uncertainty, leaving
Fed officials to face the kind of decision they thought was behind them.
They can cut the rate for the 12th time since the start of last year,
sending a disturbing message to the slumping stock market that the central
bank is worried that the economy could get even worse. Or they can leave
rates unchanged, as analysts expect, and hope that the earlier cuts are
still rippling through the economy. Many stocks fell sharply yesterday, after a widely followed
index of leading indicators, intended to predict the economy's health,
fell for the third month. The S.& P. declined 1.4 percent, to 833.70,
more than 45 percent below its peak in March 2000. A recent spate of bad news has raised fears that the unwinding
of the late 1990's excesses is taking even longer, and proving more painful,
than many economists expected. But the quiet severity of the downturn
also contains a silver lining: the economy may already have purged many
of its excesses. Employment has declined 1.2 percent, or by more than 1.5
million jobs, since March 2001, which was the start of the recession,
according to the National Bureau of Economic Research, the arbiter of
business cycles. The decline is slightly worse than the average falloff
after the last six recessions, the bureau said. "In some respects, this recession was not at all mild,"
said Victor Zarnowitz, a member of the National Bureau of Economic Research's business-cycle committee
and an economist at the Conference Board, a research group in New York.
"Employment has been quite severely affected." Employment also grew less quickly in the year before this
recession started than it typically had in the past, as companies began
realizing that they had expanded too quickly during the boom. Today, the
nation's payrolls are no bigger than they were two and a half years ago,
even though the population and the economy are larger. (Most economists
say the recession ended around the start of this year, but the National
Bureau of Economic Research has not yet made a decision.) As much pain as the large number of layoffs has brought to
workers, the cuts could set the stage for a hiring rebound. Over the last two years, many businesses have increased revenue
and production without hiring workers. The companies have instead become
more efficient, thanks to new strategies or new technology. This increase
in productivity has allowed the nation's output to grow this year even
as employment has dropped. But as the economy continues to grow - and most economists
expect it to, even if many worry that the growth will be tepid - companies
may find themselves unable to become much more efficient and may be in
need of new workers. "If history repeats, starting sometime this fall or
this winter, productivity is going to return to trend," said Robert
J. Gordon, an economist at Northwestern University. Managers "are
then going to say, `My God, business is expanding, we've got to fill some
of these empty offices.' " In part, the severity of the recession has been obscured
by the relative health of the economy. While the unemployment rate, which
is below 6 percent, remains far lower than it did at the end of recessions
in the 1980's and '90's, for example, it has still risen significantly
from its 30-year low of 3.9 percent in 2000. The increase may also understate
the change in the labor market, because many people have dropped out of
the labor force in the last two years. "People's perceptions that this recession is mild probably
comes from the levels" of unemployment and other economic measures,
said N. Gregory Mankiw, a Harvard economist and another member of the
business-cycle committee. "If you look at the changes, it looks like
a more normal recession." There are exceptions. People's income and the value of their
houses have continued to rise, and consumers have taken on new debt and
increased their spending. But that growth has not been enough to overcome
the steep drop in business spending and to get the economy growing fast
enough to lift profits, employment and stock prices. Pretax corporate
profits have dropped more than 20 percent in the last two years, and many
businesses still have more capacity than they can profitably use. Until that changes, even a rate cut by the Fed could fail
to stop the deceptively serious downturn. --------------------------------------------------------------------------------------------- California
housing prices rise and show no signs of slowing down By Simon Avery ASSOCIATED PRESS LOS ANGELES - California housing prices maintained their
torrid pace in August, surging nearly 15 percent from a year earlier,
in a market that shows no signs of slowing down, a real estate information
service said Monday. The statewide median home price, the point at which half
the homes sell for more and half for less, climbed to $270,000, up from
$235,000 in August 2001, according to DataQuick Information Systems, a
subsidiary of MacDonald Dettwiler and Associates. Underlying market conditions remained stable even with the
rapid pace of appreciation. Buyers continued to choose prudent financing,
with most still selecting long-term fixed mortgages rather than riskier
adjustable rate mortgages. In addition, the typical monthly mortgage payment
remained close to previous months at $1,273, according to DataQuick. "We're not seeing any change in the market," said
John Karevoll, an analyst with the firm. "We're looking very carefully
for signs of a bubble and we're just not seeing any indication."
The number of new and existing houses and condominiums sold
statewide in August declined to 54,200, down 3.7 percent from an all-
time record set a year earlier. But the decrease had more to do with lenders,
appraisal companies and escrow firms being unable to process all the transactions
than with consumers tempering their enthusiasm, Karevoll said. "If it wasn't for that, August would have been another
all-time peek," he said. One of the key signs pointing to the ongoing health of California's
housing market is the strong mix of properties available, from entry level
to high end offerings, Karevoll said. Homes valued at more than $400,000 represent the one segment
where appreciation rates are slowing. While entry level properties are
growing in value at about 17 percent annually, the rate for high end homes
has cooled to between 10 percent and 12 percent. Three months ago, all
segments were growing at nearly the same pace, he said. It's still too early to know if the shift signifies a broader
trend at the upper end. Some real estate agents in the million-dollar-plus market have seen
a sudden surge in sales activity this month. "People have just decided they are going to buy,"
said Patty Brotherton, an agent with Prudential California Realty in Santa
Barbara. "It's not stocks now, it's real estate." She attributed increased activity in the last couple of weeks
in part to buyers' renewed confidence after the first anniversary of the
Sept. 11 terrorists attacks. On a regional basis, median prices showed double-digit growth
across much of the state. In the nine counties comprising the San Francisco
Bay area, the median price in August rose 10.9 percent to $417,000, according
to DataQuick. In Los Angeles County, the median price rose 15.6 percent
to $267,000. In Orange County it climbed 20.1 percent to $370,000, and
in San Diego County, prices surged 23.7 percent to $339,000, DataQuick
said. ----------------------------------------------------------------------------------------- Berkeley Law firm
out $2.1 million in Nigerian Type eMail BY DAVID ASHENFELTER FREE PRESS STAFF WRITER He introduced himself as Dr. Mbuso Nelson. He said he was an official with the Ministry of Mining in
Pretoria, South Africa. And he offered to pay a $4.5-million fee to a 59-year-old
Rochester Hills woman if she would help him transfer $18 million from
South Africa to a bank account in the United States. RELATED CONTENT Mike Wendland: Despite warnings, Americans continue to lose
millions to Nigerian con artists But
what Ann Marie Poet did next gave new meaning to the so-called Nigerian
scam letter fraud, the FBI said. The FBI said Poet, a bookkeeper for a small Berkley law firm,
embezzled $2.1 million from the firm's accounts between February and August,
after scam organizers persuaded her to wire huge amounts of money to bank
accounts in South Africa and Taiwan to expedite the transfer of money
to the United States. "It's unbelievable that she fell for this," said
FBI Special Agent James Hoppe, who is investigating the case. "She was gullible -- gullible
and had access to $2.1 million." Poet was indicted this week by a federal grand jury in Detroit
on 13 counts of wire fraud. Each count carries a maximum penalty of five
years in prison and a $250,000 fine. If she's convicted, she'll likely
face three years in prison, federal officials said. Poet was advised of the charges during an initial appearance
before a federal magistrate in Detroit on Friday. She came to court alone
and left without comment. Hoppe said the perpetrators of the fraud contacted Poet by
fax in January and promised her that all she had to do to get her $4.5-million
fee was to open a bank account. After she agreed to help, Hoppe said, the scammers told Poet
the money was on its way. But as inevitably happens, Hoppe said, they later told Poet
there were problems -- fees, commissions and taxes that had to be paid. In the months that followed, Hoppe said, Poet wired amounts
ranging from $9,400 to $360,000 to offshore accounts. She never received
her fee. The alleged scam ended Sept. 4, when the Olsman Mueller &
James law firm was told that a $36,000 settlement check to a client had
bounced. Jules Olsman, president of the firm, said he contacted the
firm's bank to find out what happened., he said, he called the FBI and
eventually found out what Poet had done. Hoppe said she drained all of the firm's accounts.
"This is just absolutely beyond description," Olsman
said Friday, noting that Poet had worked for the firm for nine years and
often scrutinized expenditures she deemed questionable by other employees.
He said Poet, who quit coming to work after Sept. 4, is married and is
very active in her church. But as angry as he is with Poet, Olsman said, he's even more
annoyed with Bank One. He said a manager at a Southfield branch, whom
Poet befriended, approved all of the wire transfers even though Poet was
not authorized at the bank to make such transfers. Bank officials declined to discuss the specifics Friday.
"We don't comment on customer relationships," said
Bank One spokeswoman Mary Kay Bean. "All businesses need to have
the right accounting and financial controls, and we urge our customers
to be diligent about checking their balances." Olsman's lawyer, Mayer Morganroth of Southfield, said the
forms the bank used to make the transfers clearly indicated that the manager
should have called the law firm to verify the transfers. Olsman said his insurance won't cover the loss, but that
he plans to make good on the losses: "Not
one client of our law firm will be out one penny." He also said he plans to sue the bank. Hoppe said there's no evidence the bank manager was in on
the scam. He also said there's little hope of recovering the money or
arresting the culprits. The Nigerian scam letter scheme has been around since the
mid-1980s and originated there. People usually are approached through letters, faxes and,
more recently, e-mail. Every month, hundreds of Americans fall victim
to versions of the scam, federal authorities say. In some cases, victims lured abroad to complete the transaction
are kidnapped for ransom. The U.S. State Department has attributed 15
kidnappings or killings to the fraud. Hoppe said people need to use common sense when they receive
such offers. "Nobody is going to call someone they don't know and
offer to pay millions of dollars to help transfer money to the United
States unless they're up to no good," Hoppe said. Assistant U.S. Attorney Jennifer Gorland said the law firm
is the victim -- not Poet. "You can't use somebody else's money to follow one of
these get-rich schemes," she said. "If you use your own money, the worst thing you will
be is a fool." --- From: "Galich,
Patricia" pgalich@christenson.com ( some new e-mail
received, sent by readers, at the end of this report. For previous stories, go to:: http://www.leasingnews.org/Conscious-Top%20Stories/NIGERIA_STORIES.htm ----------------------------------------------------------------------------- Top
Gun Sales Manager Brad Kissler---Balboa Capital http://www.leasingnews.org/imanges_uael_wael/Kissler.jpg I entered the leasing industry in March 1994 with Balboa
Capital Corporation, having graduated from Cal State, Fullerton with
a BA in Communications. After
establishing myself as an Account Executive and taking Salesperson of the Year twice, I was granted the opportunity
to transition into management. My first assignment in this new role was to take the helm
at our Phoenix office, at that time our lowest producing branch. By the end of the first year, Arizona was at 100% of quota. After the second it was Balboa's highest producing sales office, resulting in two consecutive
Manager of the Year titles. My career continued on this path with opportunities to head
in turn the San Francisco and New York offices, each of which experienced
a spike in production. The culmination
of my management career has been my current tenure as Balboa's Vice President, Sales, a position I have
held for the past two years. Throughout my various transitions in the organization, the
importance of a strong corporate culture has become very clear to me. Balboa Capital prioritizes thorough training on all of the products and
services we offer, timely and open communication, and a strong commitment to
achieving the goals we set forth personally and as an organization. In
every respect, it is our vision to deliver "world class" service
to our customers and industry partners. Bradley A. Kissler bradak@balboacapital.com ----------------------------------------------------------------------------------- October 5, 2002
San Diego United Association of Equipment Leasing Annual
Conference and Exhibition "Top
Gun" Leasing News will
present two workshops 11:00am
"Tom Gun " Sales Managers Richard Baccaro
http://www.leasingnews.org/articles.doc/Baccaro_bio.htm Brad Kissler (
see above ) Mark McQuitty http://www.leasingnews.org/articles.doc/Mcquitty_bio.htm 9:45am "Top Gun Salespeople" Jim Raeder http://www.leasingnews.org/articles.doc/Raeder_bio.htm Ignacio Sanchez http://www.leasingnews.org/articles.doc/Sanchez_bio.htm Richard Shapiro http://www.leasingnews.org/articles.doc/Shapiro_bio.htm Tony Sherwin http://www.leasingnews.org/articles.doc/Sherwin_bio.htm Eric Sidebotham http://www.leasingnews.org/archives/Sept2002/9-19-
02.htm#topgun ------------------------------------------------------------------------- ------------------------------------------------------------------------------------------- UAEL Annual
Fall Conference & Exposition 2002 San Diego,
California October 3 -
6, 2002 Better Register...Or you'll be missing out on a "Top
Gun" Event! Book Your Room Now! Block
Limited… Sheraton Hotel & Marina - San Diego 1380 Harbor Island Drive San Diego, CA 92101 Tel: 619-692-2200 Fax: 619-692-2363 www.sheraton.com/sandiegomarina Hotel Registration Call 1-877-734-2726 (Be Sure To Mention
UAEL Rate) Sign up for appointments with Exhibitors now - Under Fall
Conference on Website. Check out list of ACE Exhibitors and Sponsors to date. It's not too late to register for the Golf Tournament Thursday,
October 3 - Register Online or Call us! Spouse / Guest Activity: Sign up for the Behind the Scenes Tour of the San Diego Zoo! Addition Zoo Date Just Added! Thursday, Oct.3 OR Friday, Oct. 4. Tour is from 9:30AM - 1:30PM. Let
us know when you want to go...Email Azin (azin@uael.org) *NOTE! The venue for the Saturday Night Party has been moved to
the Hotel. Attire is still casual but the theme will be "Top Gun"
instead of "Beach". VISIT THE UAEL WEBSITE FOR MORE INFORMATION! WWW.UAEL.ORG See you there! -------------------------------------------------------------------------------------------- Equipment Leasing
Association Conference Up-Date It's been a tough year so far. For many, attractive business
deals are harder to come by, despite your sales team's talent and efforts.
You want and need more business. Where do you go to make contact with new and old business
relationships? Many of your colleagues know the answer. They've registered
for the 41st ELA Annual Convention, scheduled October 13-15, 2003 in San Francisco.
It's the single best place to find out "who's doing what" in the equipment
leasing and finance business. While networking is of critical importance in developing
new business arrangements, keeping informed on the latest industry issues
is of equal significance. Among the many sessions planned for the ELA
Convention, several will be of particular interest to sales and marketing
professionals. Here's a sample: What Brand ID Means to a Financial Company The luncheon on
Monday, October 14th showcases Duane Knapp, President, BrandStrategy,
Inc., who has made a career helping major corporations deliver on their
"brand promise." Does your business model adequately reflect
the kind of company you want to be, the direction you want to be going
and the markets you want to capture? Mr. Knapp provides insights on how
to leverage your brand to get more business. Manifest Destiny in the Leasing Industry: Is Growth Always
the Path to Success? This session will help business leaders re-evaluate the notion
that "bigger is better" and to manage their company's growth accordingly. Panelists will
focus on positive steps to successful growth, and will provide constructive
guidance on how to survive and even prosper in this economy within the
constraints of reasonable expectations. Presenters: Kenneth C. Greene. Kenneth C. Greene & Associates; John
C. Deane, The Alta Group; Paul J. Menzel, Santa Barbara Bank & Trust; and
James K. Merrilees, First Portland Corp. Business Planning Strategies that Deliver Real Value Can this leasing company be saved? An "Emergency Strategic
Planning Meeting" of the Senior Management Team of the Acme Leasing
and Drayage Corporation will now be held! Using realistic leasing company
data plus real input from convention attendees, speakers will apply their
own expertise to explore this fictitious leasing company's options as
it faces issues that are affecting companies throughout the industry.
Be there as "management" explores Acme's opportunities, priorities, factors to consider when developing
strategy, and ways to evaluate, track and measure success. This is no
ordinary breakout session! It is designed to get you thinking in new ways
about some of the critical issues facing the industry. Presenters: Jon
S. Haas, The Triad Group; Andrew Lea. McCue Systems, Inc.; and John O.
Steindorf, Allegiant Partners/Interfund. For more information on the Annual Convention, and to register
on-line, go to: http://www.elaonline.com/events/2002/annconv/ Attendees who register by October 3 will be included in the
final convention roster, the unofficial "Who's Who" of the leasing
industry. We urge you to register today. See you in San Francisco! Sally Maloney SMALONEY@ELAMAIL.COM> ------------------------------------------------------------------------------------------ Mid-America Association
of Equipment Lessors 20th Annual Meeting November 7, 2002 5:00PM Meeting (*Meeting is for Members Only) 5:30PM Reception 7:00PM Dinner 8:30PM Entertainment 9:00PM Adjourn Reservations will be taken on a first-come, first-served
basis. Please respond on or before October 24th. http://www.leasingnews.org/PDFFiles/MAEL_Meeting.pdf Not sure whether you saw this yet. Can you please post periodically on Leasing
News? Hopefully you and your readers
will find a reason tobe in Chicago then and join in on the networking
festivities!!! Will be sending
out a follow up offering half page/half price sponsorshipsincluding four
participants next week, so you have it in advance. It is a teaspoon, not a scoop. Have a nice weekend!!! Best regards, Clyde D. Cady President Facility Capital 333 West Wacker Drive Suite 1750 Chicago, IL 60606 cdcady@facilitycapital.com www.facilitycapital.com 312.541.6000 phone 312.541.1275 fax 312.399.9335 mobile Members ELA & MAEL ____________________________________________________________ Nov. 9th NAELB Meeting
Marina del Rey Details-Cost $95 any assoc. member The NAELB will hold a Regional Conference on November 9th,
2002, at the Marina del Rey Hotel in Marina del Rey, California, (http://www.marinadelreyhotel.com/ ). The one day meeting
will kick-off with a humorous skit lampooning brokers, lessors, lenders,
and lessees, and some of the idiosyncrasies and pitfalls of our business.
The working content will include two morning sales workshops, meetings
with funder members, and a special afternoon panel of lenders discussing
the near term funding picture and including break out discussion groups
and summaries. The day will close with a networking reception. Chairperson
for the conference is NAELB Member, Rick Wilbur, of Media Capital
Associates, LLC. The whole day promises to be both informative and fun. Cost for broker attendees from any association is only $95.00
and includes lunch. For more information, call the NAELB office toll-free
at: (800) 996-2352 or e-mail:info@naelb.org. On Friday night, the 8th, the night before the meeting, the
whole NAELB Board will host a Meet & Mingle Reception. All industry
professionals are invited to meet our Board, learn about our association, talk
shop, gossip or just kick back and have fun. Reservations will be necessary,
though. Again, just call our office at the number above or e-mail
us. We look forward to seeing all our members and other industry
friends on Friday night and Saturday, November the 8th and 9th, in Marina
del Rey, California. Gerry Egan President NAELB President TecSource, Inc. 5621 Departure Drive, Suite 113 Raleigh, NC 27616 Phone: 919-790-1266 Fax: 919-790-2262 E-Mail: mailto:GerryEgan@ForEquipmentLeasing.com Internet: www.ForEquipmentLeasing.com ---------------------------------------------------------------------------------------------- Middle Eastern descent Collection Calls---- I heard that GE Capital's Penske Truck Leasing Division has
all their collection calls done out of one large office India. If you know someone at Penske you may want to check with them. I found it interesting and thought you'd like to know. "Name With Held" G.E. does have
a very large collection department in India (several companies are using
cheaper Indian labor for outsourcing), but I understand they speak very
fluent English. "Name With Held" I was solicited for a listing in some yellow pages and the
accent of the caller and the verifier were both Indian but both used western
names. I finally found out after much inquiry from them that they
did U.S. outsourcing in India for the yellow pages company in the
U.S. and used western names because they thought it would fool the people
they called. Didn't fool me, I can tell an Indian accent anyplace, especially
after watching The Simpsons! Steven B. Geller, CLP Leasing Solutions LLC 20 Dike Drive Wesley Hills, New York 10952 845-362-6106 fax 845-354-2803 cell 914-552-0842 www.leasingsolutionsllc.com ------------------------------------------------------------------------------ ### ################
############################ MicroFinancial
Inc. Announces Quarterly Dividend WALTHAM, Mass., -- The Board of Directors of MicroFinancial
Inc. (NYSE: MFI) voted to pay a dividend of $0.05 per common share, payable
on or before November 15, 2002 to holders of record of MicroFinancial
common stock as of October 3, 2002. This dividend is the same as the previous
quarter. Richard Latour, President and COO, stated, "We are proud
of our long-term track record of positive cash flows and dividend payouts.
MicroFinancial has paid a dividend for thirty consecutive quarters since
the Company initiated a dividend in 1995." MicroFinancial Inc. (NYSE: MFI), headquartered in Waltham,
MA, with an additional location in Woburn, MA, is a financial intermediary specializing in leasing
and financing for products in the $500 to $10,000 range. The company has
been in operation since 1986 and has been profitable each year since 1987.
Statements in this release that are not historical facts
are forward-looking statements made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. In addition,
words such as "believes," "anticipates," "expects,"
"views," and similar expressions are intended to identify forward-looking
statements. The Company cautions that a number of important factors could
cause actual results to differ materially from those expressed in any
forward-looking statements made by or on behalf of the Company. Readers
should not place undue reliance on forward-looking statements, which reflect
the management's view only as of the date hereof. The Company undertakes
no obligation to publicly revise these forward-looking statements to reflect
subsequent events or circumstances. The Company cannot assure that it
will be able to anticipate or respond timely to changes, which could adversely affect its
operating results in one or more fiscal quarters. Results of operations
in any past period should not be considered indicative of results to be
expected in future periods. Fluctuations in operating results may result
in fluctuations in the price of the Company's common stock. For a more
complete description of the prominent risks and uncertainties inherent
in the Company's business, see the risks factors described in documents
the Company files from time to time with the Securities and Exchange Commission.
CONTACT: MicroFinancial
Inc. Richard
F. Latour, Tel: 781-890-0177 Fax: 781-890-1368 E-Mail:
Richard.Latour@Microfinancial.com ### ######################################################### ORIX Financial Services Uses International
Decision Systems' InfoLease
to Centralize Operations Leading Lease Accounting
Software Supports Success of New Structured & Public Finance Businesses
& Ongoing Equipment Finance Business MINNEAPOLIS,-International
Decision Systems, Inc. (IDS) - the global leader in lease accounting and
portfolio management software
systems - announced today that ORIX Financial Services (OFS) has implemented
InfoLease to leverage the benefits of centralization, access standardized
sets of reports and effectively share information across the organization.
According to Mike Bohn, Director of
Sales, "By replacing its 18-year-old AS400 legacy receivables
management system with InfoLease, ORIX has transformed the way it does
business to accommodate its future direction, growth and support needs. With nearly three decades of leasing
industry expertise and the world's
largest global consulting, implementation, and technical support
organizations, we can meet OFS' high standards for quality products and
service." OFS CIO Jim Townsend explained why his company chose InfoLease.
"At the same time that we were revamping our business processes,
we alsowere merging our six regional offices into our new Atlanta headquarters.
Considering the convergence of these monumental changes, we electedo
go with a tried and true solution from a company that has the resources
to intimately support our implementation." Providing a centralized
database structure that improves the data synchronization and limited
reporting for OFS, InfoLease enables the company's recently formed Structured
Finance and Public Finance businesses to share the same system as its
traditional Equipment Finance business.
This translates into leveraging the benefits of centralization-accessing
standardized sets of reports and effectively sharing information across
the organization. Townsend summarized his management team's assessment of OFS'
partnership with IDS, "We're
building our business on IDS' platform, which
requires a huge amount of trust. We're
finance people, and we know the finance business. IDS is the receivables management software
expert, with the project managementcapacity we need to shepherd us through
our transition and continued business expansion.
We're moving quickly, and InfoLease has the ability to keep
pace with our evolving needs." In the short-term,
OFS will continue to develop its InfoLease infrastructure with additional
modules and, in the long-term, the company will leverage the system by
fully integrating documentation and imaging management functionality. About
ORIX Financial Services (OFS) OFS
is an indirect wholly owned operating subsidiary of ORIX USA. ORIX USA is a subsidiary of ORIX Corporation
Japan, a publicly traded company
listed on the Tokyo Stock Exchange (TSE:8591) and New York Stock Exchange
(NYSE:IX) with assets in excess of $45 billion. About
International Decision Systems With nearly three
decades of leasing industry-specific expertise, International Decision
Systems (IDS) is the global market leader in developing lease accounting
and portfolio management software and services. Hundreds of independent,
bank-related, captive leasing and financial services companies worldwide
use IDS products and services, which include anchor products InfoLease,
LeaseEnterprise and FleetWare. InfoLease is the world's most stable, scalable and robust
end-to-end equipment lease accounting software for larger lessors, LeaseEnterprise
is an affordable leasing system
for small- to mid-sized equipment lessors. FleetWare is a comprehensive full-service vehicle-leasing
andcontract-management system. Companies use IDS' software to streamline,
manage and automate the entire leasing life cycle, as well as to leverage
the Internet's speed and flexibility for improved customer service,
achieving greater internal efficiencies and closing deals faster. In addition to its product lines, IDS also has the leasing
industry's largest global consulting, implementation and technical support
organizationsthat provide incomparable service from offices located in
the United Kingdom, North America (Boston and Minneapolis), Australia
(Sydney) and Southeast Asia (Singapore). IDS' parent company,
IDS Group plc, is publicly traded on the London Stock Exchange (IDGL).
For additional information about International Decision Systems and IDS Group plc,
visit www.idsgrp.com. #### #############################
############### --------------------------------------------------------------------------------------------------- From: Rob Yohe, Stillwater, Kansas MLOST@aol.com -- NO 50 B SECOND
AVE INDEPENDENCE LAYOUT ENUGU STATE NIGERIA, WEST AFRICA. Dear Sir, I am, the Bank Manager of African continental Bank in Nigeria (ACB). There is an account opened in this bank in 1980 and since 1990 no body has operated on this account again. After going through some old file in the records I discovered that if I do not remit this money out urgently it will be fortified for nothing. The owner of this account is Mr., Smith B. Andreas, a foreigner and a miner at kruger Gold Co, a geologist by profession and he died since 1990. No other person knows about this account or anything concerning it. The account has no other beneficiary and my investigation proved to me as well that this company does not know anything about this account and the amount involved is (USD 36m) Thirty Six Million United States Dollars. I am only contacting you as a foreigner because this money can only be claimed by a foreigner, I know that this message will come to you as a surprise as we don't know ourselves before, we will sign agreement, but be sure that everything concerning this deal is real and nothing to fear about. With believe in God that you will never let me down in this business because you are the only person I have contacted in this business. I need your full cooperation to make this work fine. Because the management is ready to approve this payment to any foreigner who has correct information of this account which I will give to you later, if you are able and with the capability to handle such amount in strict confidence and trust according to my instructions and advice because this opportunity will never come again in my life. With my position in the office. I will use my position to influence and affect legal approvals and onward transfer of this money to your account with appropriate clearance from the ministries and foreign exchange department. At the conclusion of this business, you will be given 30% of the total amount, 65% will be for me while 5% will be for the expenses both parties might have incurred during the process of transfer. I look forward to your earliest reply through my e-mail address. Yours sincerely goodluck okere -- Dr.Oshoniwo kogi Lagos-Africa Dear Sir, I, on behalf
of my colleagues from different Federal Government of Nigeria owned parastatals
decided to solicit your assistance as regards transfer of US$10,500,000.00
(Ten Million,five Hundred Thousand US Dollars) into your bank account. These funds emanated from unclaimed contractual proceeds
of foreign contracting firms who could not meet their financial obligations
to their creditors. We, as holders
of sensitive positions in our various parastatals, were mandated by the
Federal Government to scrutinise all payments made to certain foreign
contractors and we discovered that some of the contractors have not been
paid their contractual entitlement which collectively left the sum of
US$15,500,000.00 (Fiftheen Million, five Hundred Thousand US Dollars)
lying in a suspended Account. However, from our investigations, we discovered
that the foreign beneficiary companies have since been liquidated, and
to all intents and purposes no longer exist in Nigeria, thus providing
us with this opportunity, provided that we have a capable partner, to
execute a transaction of this nature. We agreed that
the said amount would be transferred into an overseas Bank Account to
be provided by a reliable foreign firm/associate. This is because as serving
Government workers the Civil Service Code does not allow us to operate
foreign Account. In our initial attempt to do this, we succeeded in transferring
part of this amount US$5m (Five Million Dollars) into a United States
Dollar Account in Beirut, Lebanon, but our foreign associate failed to
honour our mutual agreement insisting instead that the total amount be
transferred into the Account before we can share the money. As a result,
we have lost confidence in the ability of our Lebanese partner to see
this matter to its logical conclusion, and until the initial transaction
is satisfactorily resolved, we have cancelled further transactions with
him. In the light
of the foregoing, it is clear that we require a partner that is not only
capable of rendering assistance and cooperation in executing this matter,
but will honour the terms of agreement when we reach the concluding stages
of this transaction. We therefore offer the amount of 20% of the entire
sum in return for services/assistance rendered in successfullycarrying
out this project. We trust that you appreciate the sensitive nature of
this matter and the need for initial caution on our part, but when a relationship
is confidently established and operations commence you will be provided
with all relevant information. I remain at your
disposal to entertain any questions/enquiries relating to this proposition
and you may contact me as a matter of urgency via e-mail for further information on the procedures and
requirements of this transaction. In your reply,
remember to indicate a safe telephone number where I can always reach
you. Hope to hear
from you soon. Please treat with
the strictest confidentiality and expediency. Yours faithfully, Dr.Oshoniwo --- Jack Praise The Manager, Credit and Foreign Bills, Ecobank PLC. Johannesburg. South Africa. STRICTLY CONFIDENTIAL My name is Mr. Jack Praise, the Manager, Credit and Foreign Bills of Ecobank PLC, Johannesburg, South Africa. I am writing in respect of a foreign customer of my bank with account number 14-255-2004/utb/t who perished in a plane crash (Korean Air Flight 801) with the whole passengers aboard on August 6, 1997. Since the demise of this our customer, I personally has watched with keen interest to see the next of kin but all has proved abortive as no one has come to claim his funds of US$30.5m (Thirty million, five hundred thousand united states dollars) which has been with my branch for a very long time. On this note, I decided to seek for whom his name shall be used as the next of kin as no one has come up to be the next of kin and the banking ethics here does not allow such money to stay more than five years, because the money will be recalled to the bank treasury as unclaimed after this period. In view of this, I got your contact through my search for an honest, faithful and trustworthy fellow that can assist to make a claim of this deposit with the help of my personality. I will give you 40% of the totalsum. Upon the receipt of your response, I will send to you by fax the "Transfer Application Form" and the
next step to take. I will not fail to bring to your notice that this business is 100% hitch free and that you should not entertain any fear as all modalities for fund transfer can be finalized within five banking days after you apply to the bank as a relation to thedeceased. Kindly telephone me or send me a fax and e-mail: Tel: + 011 871
7624 86020 Fax: + 011 872
7624 86021 jack_praise@hotmail.com Please when replying this mail kindly include your Telephone and Fax number for better communication. Yours sincerely, Mr. Jack Praise --- FROM.OUEGNIU MARCEL. TEL:+225 078.192.74 ABIDJAN,COTE D'IVOIRE. DEAR, I KNOW MY MAIL WILL BE A SURPRISE TO YOU BUT YOU SHOULD UNDERSTAND THAT I WAS TOTALLY CONVINCED TO WRITE TO YOU IN REFERENCE OF THE TRANSFERING OF $15.000.000.00 FIFTEEN MILLION US DOLLARS INTO YOUR ACCOUNT FOR ONWARD INVESTMENT IN YOUR COUNTRY. AND I MUST CONFESS THAT MY AGITATIONS ARE REAL AND MY WORD IS MY BOND IN THIS PROPOSAL. I AM ZUMA MIKE, THE ONLY CHILD OF LATE MR AND MRS.PAUL ZUMA.MY FATHER WAS A VERY WEALTHY COCOA MERCHANT BASED IN ABIDJAN, THE ECONOMIC CAPITAL OF IVORY COAST BEFORE HE WAS POISONED TO DEATH BY HIS BUSINESS ASSOCIATES ON ONE OF THEIR OUTING TO DISCUSS ON A BUSINESS. WHEN MY MOTHER DIED ON THE 21ST OCTOBER 1984, MY FATHER TOOK ME SO SPECIAL BECAUSE I AM MOTHERLESS. BEFORE THE DEATH OF MY FATHER ON 7TH NOVEMBER 2001 IN A PRIVATE HOSPITAL HERE IN ABIDJAN. HE SECRETLY CALLED ME ON HIS BEDSIDE AND TOLD ME THAT HE HAS A SUM OF US$ 15,000,000.00 (FIFTEEN MILLION , UNITED STATES DOLLARS) LEFT IN A SUSPENCE ACCOUNT IN A LOCAL BANK HERE IN ABIDJAN, THAT HE USED MY NAME AS HIS ONLY SON FOR THE NEXT OF KIN IN DEPOSIT OF THE FUND. HE ALSO EXPLAINED TO ME THAT IT WAS BECAUSE
OF THIS WEALTH THAT HE WAS POISONED BY HIS BUSINESS ASSOCIATES. THAT I SHOULD SEEK FOR A FOREIGN PARTNER IN A COUNTRY OF MY CHOICE WHERE I WILL TRANSFER THIS MONEY AND USE IT FOR INVESTMENT PURPOSE, (SUCH AS REAL ESTATE MANAGEMENT). SIR, I AM HONOURABLY SEEKING YOUR ASSISTANCE IN THE FOLLOWING WAYS. 1)TO PROVIDE A BANK ACCOUNT WHERE THIS MONEY WOULD BE TRANSFERRED TO 2)TO SERVE AS THE GUARDIAN OF THIS FUND SINCE
I AM A BOY OF 24 YEARS 3)TO MAKE ARRANGEMENT FOR ME TO COME OVER TO YOUR
COUNTRY AFTER THE MONEY HAS BEEN TRANSFERRED. MOREOVER, SIR, I AM WILLING TO OFFER YOU 15% OF THE TOTAL SUM AS COMPENSATION FOR YOUR EFFORT/INPUT AFTER THE SUCCESSFUL TRANSFER OF THIS FUND TO YOUR NORMINATED ACCOUNT OVERSEAS. FURTHERMORE, YOU CAN INDICATE YOUR OPTION TOWARDS ASSISTING ME AS I BELIEVE THAT THIS TRANSACTION WOULD BE CONCLUDED WITHIN SEVEN (7) DAYS YOU SIGNIFY INTEREST TO ASSIST ME. PLEASE CALL ME ON THIS TELEPONE NUMBER FOR MORE INFORMATIONS 225-07-819274 . ANTICAIPTING TO HEAR FROM YOU SOOn . THANKS AND GOD BLESS. OUEGNIN MARCEL. --- PLEASE EXERCISE SOME PATIENCE AND READ THROUGH THIS DETAILED
MESSAGE I am Mr ABIODUN JOHNSON an account officer one of the Nation Bank Lagos. for this reason , which will come to light as
you read on , I obtained your address particulars from an internet address listing .I have a very urgent and confidential business proposition for you . on December 6th 1997 an oil consultant with the Nigerian National Corporation , Mr. . Ahmed Y. Mustapha an Iraqi National, made a numbered time / fixed for 48 Calendar months, valued US$10 million in my branch . On maturity, we sent a routine notification to his forwarding address but got no reply After a month
we sent a reminder and finally, his contract employers,the NNPC, wrote to inform us that Mr. A.Y Mustapha died in an automobile accident while travelling to the eastern part of the country.
That he died without making a WILL while all attempts to trace his KIN in Iraqi and inform them about Mr. . Mustapha ,sdeposit of US10million were fruitless. Further investigation revealed that Mr.Youseff was actively opposed to the Government of president Saddam Hussein of
Iraq as a result of which he was driven into exile. Being an oil
expert, he subsequently obtained a job with NNPC, and settled in Nigeria. Thereafter, he walked into my office to make the aforementioned deposit of US$10million. He did not declare his KIN in his
application paperwork. When I asked, he informed me that he wished it
so. In the conservative manner of our Bank (my employer), I did
not turn down his wish but rather honored it especially given
his high net worth. In reality no one knows the source of his
money since apparently, the time frame of his employment with the NNPC does indeed preclude such a large amount of money. It
is therefore presumed that he brought his money from Iraqi,
although this is open to speculation. The point however is that his employers are not awareof his money, therefore one can safely infer that no one will overcome forward to claim this money. This fund, totaling US$10M is
still siting in my bank dormant account portfolio. According to Nigerian law, the money will automatically revert to the federal Government Treasury after five years,especially if the account owner is a foreigner who has been certified
dead and there is no valid claim. I am thus looking for a foreigner who will stand in as the
next of kin to Mr. Mustapha. It is not necessary to be a blood relation,neither is it necessary to bear the same saw name
with Mr.Mustapha.It is even not important for the stand in next of kin to be
an Iraqi national. Already I have worked out modalities for
achieving my aim of appointing a next of kin as well as transfer the money abroad for us to share . Apparently no risk involved ! I will process the initial
paperwork to obtain approval from the concern parastatal/ department. If you therefore agree to be the INHERITOR / NEXT OF KIN
you should provide immediately with the following 1. A bank Account ( an account with zero credit balance is
okay . 2. The complete name and address of the bank , holder/Beneficiary,your phone and fax number Once I have the required information as above, I will initiate the processing of the transfer, and in about 10 working days, the fund will be in your nominated bank account for us to
share in the ratio of : 70% for me and 30% for you . This transaction is guaranteed to succeed without any problems. And I shall
forward to you more clarification you need and you are free to ask questions Looking forward to your urgent reply Your truly Mr.ABIODUN JOHNSON. -- From Kamala Kadasa Tel:00 221 649 67 68 Dakar Senegal kamala_kadasa@epatra.com ATTN: Permit me to acquaint you with this proposal for the purpose of investment in your country. I know this letter may come to you as a surprise since we have not met before. Your contact was given to me by a staff of the Sierra Leone Chambers of Commerce and Industry, Freetown, who informed me that your name and email address was sourced through an Internet search done by the Chambers.My name is Kamala Kadasa, son of late Mr.Kadasa Williams.My father until his death was the
Director of Gold / Diamond Mining field of Kono District in Sierra Leone. Before his death in a private hospital in Freetown,
he disclosed to me the reason he was poisoned by his business associates. He revealed to me of a consignment containing US$15.500,000 (fifteen million five hundred thousand United States Dollars) he deposited in a private security company in Dakar, Senegal for safety purpose since there was war in our country. He explained further that he declared the consignment as a family treasure and artifect to the Security Company to avoid them raising eyebrows, hence, they do not know the content of the consignment. He also directed me where he kept the deposit certificate and agreement reached with the security company. He advised that I should leave for Dakar in the event of his
death immediately to facilitate the claiming and transfer of this money to any country of my choice for proper investment and also to avoid being kill by the people that killed him. Presently, I am in Dakar
Senegal with my mother after the burial and three months mourning as our village local tradition demands.I am now looking for a honest and trustworthy person who will assist me in this business as my late father instructed. Besides, I strongly want to continue my education in your country and you would definitely stand as my guardian and overseer of any investment made with this money. You will also plan to accomodate me and my mother in your country, since my father's death, my mother had been sick due to circumstances sorrounding my father's death. It is in proper to live her behind since no body will be taking care of her. As soon as the consignment is out from the security company and the transfer made, you will be compensated with 25% of the total sum, while the remaining will be for investment. If you are willing to assist me in this transaction, kindly contact me on my telephone number as stated above, state your phone and fax numbers in your next mail , I will then furnish you with the details, including faxing of the certificate of deposit and deposit agreement to you for your perusal and confirmation. Thanks and God bless you Yours sincerely, kamala kadasa --- TEL:+31-641-229-662
CONFIDENTIAL BUSINESS PROPOSAL You may be surprised to receive this letter from me since
you do not know me personally. The purpose
of my introduction is that I am Johnson Mowete the first
son of Frank Mowete ,a farmer in
Zimbabwe who was recently murdered in the land dispute in my country.
I got your contact through network
online hence decided to write you. Before the death of my father, he had taken me to Johannesburg
to deposit the sum of US8.5 million (Eight million, Five Hundred
thousand United States dollars), in one of the private security company, as he foresaw the looming danger in
Zimbabwe this money was deposited in a box as gem stones to avoid much demurrage from security company. This amount
was meant for the purchase of new machines
and chemicals for the Farms and establishment of new farms in Swaziland. This land problem came when Zimbabwean President Mr.Robert
Mugabe introduced a new Land Act Reform
wholly affecting the rich white farmers and some few black farmers,
and this resulted to the killing and mob action by Zimbabwean war veterans
and some lunatics in thesociety. In fact a lot of people were killed because
of this Land reform Act for which my father was one of the victims. It is against this background that, I and my family fled
Zimbabwe for fear of our lives and are currently staying in the Netherlands
where we are seeking political asylum and moreso have decided to transfer my father's money to a more reliable
foreign account. since the law of Netherlands prohibits a refugee (asylum
seeker) to open any bank account or to be involved in any financial transaction
throughout the territorial zone of Netherlands, As the eldest sonof my
father, I am saddled with the responsibility of seeking a genuine foreign
account where this money could be transferred without the knowledge of
my government who are bent on taking everything we have got. The South
African government seems to be playing along with them. I am faced with the dilemma of moving this amount of money
out of South Africa for fear of going through the same experience in future,
both countries have similar political history. As a businessman,I am seeking
for a partner who I have to entrust my future and that of my family in his hands, I must let you know
that this transaction is risk free. If you accept to assist me and my
family, all I want you to do for me, is to make an arrangements with the
security company to clear the consignment(funds) from their afiliate office
here in the Netherlands as i have already given directives for the consignment to be brought to the
Netherlands from South Africa.But before then all modalities will have
to be put in place like change of ownership to the consignment and more
importantly this money I intend to use for investment.I have two options
for you. Firstly you can choose to have certain percentage of the money
for nominating your account for this transaction. Or you can go into partnership
with me for the proper profitable investment of the money in your country.
Whichever the option you want, feel free to notify me. I have also mapped
out 5% of this money for all kinds of expenses incurred in the process
of this transaction.If you do not prefer a partnership I am willing to
give you 10% of the money while the remaining 85% will be for my investment
in your country. Contact me with the above telephone number and through
my private E-mail address(mjohnson@hotvoice.com), while I implore you
to maintain the absolute secrecy required in this transaction. Thanks, GOD BLESS YOU Yours Faithfully Johnson --- Jack Praise The Manager, Credit and Foreign Bills, Ecobank
PLC. Johannesburg. South Africa. STRICTLY CONFIDENTIAL My name is Mr. Jack Praise, the Manager, Credit
and Foreign Bills of Ecobank PLC, Johannesburg, South Africa. I am writing in respect of a foreign customer
of my bank with account number 14-255-2004/utb/t who perished in a plane
crash (Korean Air Flight 801) with the whole passengers aboard on August
6, 1997. Since the demise of this our customer, I personally has watched
with keen interest to see the next of kin but all has proved abortive
as no one has come toclaim his funds of US$30.5m (Thirty million, five
hundred thousand united states dollars) which has been with my branch
for a very long time. On this note, I decided to seek for whom his name
shall be used as the next of kin as no one has come up to be the next
of kin and the banking ethics here does not allow such money to stay more
than five years, because the money will be recalled to the bank treasury
as unclaimed after this period. In view of this, I got your contact through
my search for an honest, faithful and trustworthy fellow that can assist
to make a claim of this deposit with the help of my personality. I will
giveyou 40% of the totalsum. Upon the receipt of your response, I will
send to you by fax the "Transfer Application Form" and the next
step to take. I will not fail to bring to your notice that this business
is 100% hitch free and that you should not entertain any fear as all modalities
for fund transfer can be finalized within five banking days after you
apply to the bank as a relation to thedeceased. Kindly telephone me or
send me a fax and e-mail: Tel: + 011 871 7624 86020 Fax: + 011 872 7624
86021 j_praise@hotmail.com Please when replying this mail kindly include
your Telephone and Fax number for better communication. Yours sincerely,
Mr. Jack Praise --- Dear FRIEND, This letter may come to you as a surprise due to the fact
that we have not yet met,but it should'nt,since we are determined to get what rightly belongs
to us anyhow,but soon when every thing goes according to plan.The message
could be strange but reality will definitely dawn on you, if you pay some
attention to it's content. I would'nt have notified you but for the sake
of your integrity and goodwill.Please accept my sincere apologies.In bringing
this message to you, I have to say that I have no intentions of causing
you any personal pains or discomfort. I am Mr.Samuel Savimbi, son of the
late rebel leader Jonas Savimbi of Angola who was killed on the 22nd of
february 2002.We are desperately looking for a trustworthy person to assist
us in this confidential business.My late father,Jonas Savimbi deposited
huge sums of money realised from the sale of diamonds and other precious
stones /metals in different banks in Europe. My father is presently no
more, and the movement of his family members (including me) is highly
restricted. We are forbidden to either travel abroad or out of our immediate
localities. Presently, the money realised from those sails amounting to
US$25,500,000.00 (TWENTY-FIVE MILLION,FIVE HUNDRED THOUSAND DOLLARS),
which my father realised was transfered to Netherlands is safe in a security
firm over there.Before you can get access to it you have to be given the
password and the Personal indentification numbers (PIN No:) of the consignment
deposited.I am therefore soliciting your help to have this money collected
by you and transfered into your account,as we would give you the neccesary
documentations to facilitate your collection of the consignment personally
in Amsterdam, before the government gets wind of this arrangement.You
know my father was a rebel leader in his life time before his death. My reason for doing this is because it will be difficult
for the Angolan Government to trace my father's money to an individual's
account,especially when such an individual bears no blood relationship
with us ,I have decided to keep that money for my family's use.Presently
the money is still in that Security Company in the Netherlands. I am currently and temporarily living in Luanda with my family
seeking for my refugee status,moreover the political climate in Angola at the moment
is very tense,sensitive and unstable.With this password and informations that we will
give you,together with the Power of ecurity firm,and these will facilitate
your collection of the consignment. You have to proceed personally to
Netherlands where after fulfiling their requirements US$25,500,000.00
will be released to you in the two large trunk boxes that it was deposited in,after which we may likely ask you to come over
with some money for us to run away from here at least for now into one
of these European countries. You can have the fund transferred into any
account that suits you after your personal collection of the consignment,until
further instructions are given. ***PLEASE YOUR CONFIDENTIALITY IN THIS TRANSACTION IS HIGHLY
REQUIRED. Thank you very much for your time and understanding. Yours sincerely, Mr.SAMUEL SAVIMBI --- To:kitmenkin@leasingnews.org Subject: TREAT AS URGENT. MIME-Version: 1.0 Content-Type: text/plain;charset="iso-8859-1" Content-Transfer-Encoding: 7bit Mrs. Maryam Abacha C/o Barrister Femi Peter, Floor 14/Suite 10 Niger House,Marina,Lagos. email:femipeter@sify.com Date: 28th.August. ,2002 Attn:Sir/Ma, I salute you
in the name of Allah,the most high God.I am Mrs. Maryam Abacha, the widow
of the late General Sani Abacha, former Nigerian Military head of state
who died mysteriously as a result of Cardiac arrest.Since my husband died,
my family has been under restriction of movement and that not withstanding,
we have been molested and constantly under watch by the seemingly Agent,
above all our bank accounts here and abroad have been frozen by the Nigerian
civilian Government. Furthermore,
my eldest son is in detention by the Nigerian Government for more interrogation
about my husband assets and some vital documents. Following the recent discovery of my husband's bank account
by the Nigerian Government with my son's bank in which a huge some of
US$700 million and Dutch Mark 450 million was lodged and f1.6 billion
belonging to my late husband was seized by the Government of Nigeria.I
therefore wish to personally appeal to you seriously and religious for
your urgent assistance to transfer the sum of
US$62.8 million into your account in your country where I believe
it will be safe, since we can not leave the country, due to the restriction of the movement
imposed on the members of my family by the Nigerian Government.You can
contact me through my Lawyer's Email:femipeter@sify.com,to arrange with you for
a face-to face meeting outside Nigeria inorder to lease with him toward
effective completion of this transaction.
However, arrangement have been put in place to move this money
out of the country, in the secret vault through a security Company to
any of West African States, Europe,America as soon as you indicate your
interest, my Lawyer shall send to you the Security Deposit Certificate
and Airway Bill of the luggage and other related documents so that you
an claim the luggage, which shall be tagged FAMILY TREASUERS. Conclusively, we have agreed to offer you 30% of the total
sum while 70% is to be held on trust by you until we can decide on a suitable
business investment in your country subsequent to our free movement by
the Nigerian Government.Please, reply urgently and treat with absolute
confidentiality and sincerity. Yours sincerely, Maryam Abacha. N.B.Your reponse will determine the transaction and please
all information guarantee safety. ---- RWA AGENCY(RELIEF WEST (AFRICA),P.M.B.1171 FALOMO,IKOYI,LAGOS. NIGERIA. The President/Ceo. BUSINESS
PROPOSAL AND INVESTMENTS PARTNERSHIP
OF(US$42.5MILLION DOLLARS) Good day to you and how is life with you and business? First, I must Solicit your strictest confidence in this transaction,this is by virtue of it's nature as being utterly confidential and top secret as you were introduced to me in confidence through the Nigerian Chambers of Commerce, foreign trade division . I am Dr.ABASS YAKUBU, the Foreign Liaison Officer of the board of trustee of RWA Agency (Relief West Africa). We were empowered to administer a trust fund of well over five hundred million United States dollars (US$500,000,000M) for the provision of relief materials to troubled areas in the West African Sub-region and her environs. My group recently agreed, unanimously to transfer fourty two million and five hundred thousand United States dollars only (US$42.5M)into a foreign based account for our personal use and benefits and I have therefore been mandated as a matter of trust by my colleagues on board to look for an overseas Partner to whom we could transfer the sum of US$42.5M legally subcontracting the entitlement to your company. This is based on the fact that our civil service code of conduct forbids us from owning foreign company or running private foreign account while in government service. The simple mode of the transaction will be just for us to apply for there lease of the funds to you or to your company for welfare materials purportedly supplied. We shall
arrange all paper work and get approval for the release of the funds with documentary evidence of the communities and people in Liberia, Sierra-Leone, Ruwanda, Guinea-Bissau, Zaire and Nigeria, who have all benefited from the materials purportedly supplied by You, early last year. We have all records of purchases and supplies. My group is very much ready to effecting the remittance of the fund into a well secured or corporate foreign account (individual or corporate) operated by a trust worthy person, as all logistics are already in place and all modalities worked out for the smooth conclusion of the transaction within seven to ten working days upon commencement on receipt of your (Company name, Address, Company's details, activities & your direct confidential telephone and fax line for correspondence). This information will enable us make the necessary applications and lodge claims to the concerned authorities in favour of your Company and it is pertinent to state here that this transaction is entirely based on trust as the solar bank draft or certified cheque drawable will be made in your name and we wish to commence an importation business of agro-allied machineries in conjunction with you. Your assistance or partnership will certainly be rewarded with a 30% share ratio of the total sum of ( US$42.5M). We shall have 65%, While 5% will be used to reimburse both parties for any expenses incurred in the course of consummating this deal. It is important to state here, that no risk of any sort is involved, now or in future since both parties will be protected by a legally signed agreement. Please, note that an invoice shall be raised to meet the cost of materials purportedly supplied by You to the tune of (US$42.5m) and forwarded to the office of the Chief Accountant of RWA Agency after the final approval has been given by me for payment. The materials are cloths of various kinds (children & Adults), rice, soya beans, milk, sugar, ort salt, drugs,blankets, footwears, boots, syringe and needles, epz vaccines, tarpulinetents, e.t.c. Please acknowledge the receipt of this letter via e- mail. Thank you very much and take it that, Confidentiality is our greatest motto.you can reach me on my private phone no 234-80-23338675, for more disscusion. Yours truly, Dr.ABASS YAKUBU N.B. Bank Account Details not necessary as preferred mode of payment is by draft or cheque.-- ---------------------------------------------------------------------------------------------------- ------ New
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