Friday, September 30, 2005
Headlines--- If you did not read yesterday's "Odds and Ends," you missed Bruce Lurie on Hurricane Rita in Houston, Preferred Lease co-founder David Murray comments, EAEL/NAELB Conference report/Bill Hanson and Ron Fischer's yacht ( with pictures) and Ken Goodman, CLP: http://www.leasingnews.org/archives/September%202005/9-28-05.htm#odds Monday - The List -3 rd Quarter 2005 ######## surrounding the article denotes it is a "press release"
Welcome New Readers
While most who read Leasing News go to the web site first, many still join our mailing list. Our goal is to print daily from Monday to Friday, but most often it is only three or four times a week, so when you are on the mailing list, you are informed that the new edition is available. We go to "press" when we think there is enough equipment leasing news to do so. Readers on our mailing list also get notices of major events from time to time. We welcome the new readers and hope you enjoy and find informative Leasing News. ------------------------------------------------------------ Classified Ads---Sales Manager Atlanta, GA Chicago, IL. Chicago, IL Dallas/Fort Worth, TX. Marlton, NJ New York, NY Pennsauken, NJ. Portland, OR. Scottsdale, AZ For a full listing of all "job wanted" ads, please go to: http://216.66.242.252/AL/LeasingNews/JobPostings.htm To place a free "job wanted" ad, please go to: http://216.66.242.252/AL/LeasingNews/PostingForm.asp ---------------------------------------------------------------
LeaseForum has become American River Partners. " In addition if you key www.leaseforum.com you are directed to the new site - if you email me at leaseforum.com, your email is forwarded to me at American River Partners." Susan S. Franklin, CEO, Founder, and Managing Partner told Leasing News. "As to reporting to your readers, please feel free to announce we have changed our name, and continue, as we have since redirecting our focus away from online lease pricing / management in early 2003, to provide equipment lease analysis and risk management consulting services to clients nationwide."
Susan S. Franklin is the Founder, CEO, and Managing Partner from the web site: http://www.americanriverpartners.com/about/ Susan founded American River Partners in 1998. Having spent 19-years in the equipment leasing industry, Susan brings in depth, hands-on experience to the firm. As a SVP at PLM International, she was responsible for underwriting $350 million in leases annually and maximizing return on the firm's portfolio of non-transportation leases with investment grade and middle-market credits. Ms. Franklin states," An online private message board for clients on the navigation bar - it will be live in 2006." --------------------------------------------------------------- Classified Ads-----Help Wanted Lease Representatives
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-------------------------------------------------------------- #### Press Release ########################## Jim Lahti Makes its Official : Affiliated Investment Group Affiliated Investment Group, Inc. has announced that they have opened as a broker funding source. Although the company was established in 1991, it has been inactive until recently and is the proud continutation of the 20 year history of Affliated Corporate Service,s Inc. Known as "The Flexible Funding Source," Affiliated Investment Group has kept the same phone and fax numbers that they've always had and will continue the publicaiton of the "Leasing Life" newsleter. James R. Lahti, CLP, President, " I had a very amicable spearation from my long term partner and look forward ot the next chapter in Leasing Life." James R. Lahti, CLP #### Press Release ########################## Steven LeBarron Joines CHP Consulting as Vice President of Marketing, North America CHICAGO, - CHP Consulting Ltd., the leading provider of business management software and services to the global asset finance industry, today announced Steven R. LeBarron has joined the company as vice president of marketing, North America, effective immediately. In this position, LeBarron is responsible for the continued penetration of CHP ALFA Systems and consulting services in the North American leasing and lending market space where the CHP end-to-end solution is being adopted by large financial services organizations. "North America is a 'hot' market for CHP and Steve will be close to our clients in the United States and Canada," said CHP Director Andrew Denton. "We are very pleased to add Steve and his proven track record to our team. His depth of experience in leasing, software and consulting services fits well with our goal to meet unmet needs that are critical to the equipment leasing and asset finance industry. Many companies have expressed strong interest in our unique end-to-end, single system software platform. We expect Steve's expertise will help us turn them into CHP customers." LeBarron has more than 20 years experience in the equipment and vehicle leasing industries. He worked for GE Capital, International Decision Systems, Northern Consulting and Blackwell Consulting. LeBarron held management and director-level positions in customer service, consulting, product management, marketing and business development. He received an M.B.A. Degree from the University of Minnesota and B.S. Degree in Business Administration from the University of Wisconsin - La Crosse. About CHP Consulting CHP Consulting has been delivering system solutions to the leasing and asset finance industry since 1990. With more than 140 employees worldwide, CHP has great expertise in the industry and a 100 percent on-time and on-budget delivery record. Its flagship product, ALFA Systems, provides dedicated support for equipment finance, consumer finance, asset management, vehicle finance and structured finance. It is used by clients in the United Kingdom, Europe and Australia. These include RBS Lombard, HSBC, Nissan Finance, Lloyds TSB, Royal Bank of Scotland, Société Générale, ING Lease, Investec and Commonwealth Bank of Australia. For more information, visit www.chpconsulting.com. #### Press Release ########################## GMAC Names Kirtman VP, Group Senior Risk Manager SOUTHFIELD, Mich.-- GMAC Commercial Finance (GMAC CF), a wholly owned subsidiary of General Motors Acceptance Corporation Financial Services (GMACFS) since 1999, is proud to announce that Amina Kirtman has been named Vice President, Group Senior Risk Manager for the Commercial Air, Marine and Business Aviation Groups within the Company's Equipment Finance Division (EFD). In her new role, Amina will be responsible for building a high performance team to service, support and help grow these business groups. She will report to Larry Stevens, EFD's chief credit officer. "Amina brings excellent industry knowledge and high energy to this newly created position," Stevens said. "We're confident that she will be instrumental in the profitable growth of these business groups which are vital to EFD's success." Amina has worked in the large-ticket equipment finance/leasing industry for more than five years. After earning a B.A. degree from Smith College in Northampton, Mass., and an M.B.A. from the University of California at Davis, Amina has taken a career path through account management, corporate finance and credit. Prior to joining GMAC CF, Amina worked for GATX Corporation. GMAC Commercial Finance, considered a leader in its segment of the financial services market, provides asset-based lending, equipment finance/leasing, structured finance, factoring and supplier early payment services to a wide variety of middle-market clients in diverse industries. Loan facilities are in the $1 million to $350 million range. With locations in the United States, Canada, Hong Kong, Poland, the United Kingdom, and plans to open an office in Germany the 1st Quarter of 2006, GMAC Commercial Finance is positioned to provide lending services worldwide. The GMAC CF Equipment Finance Division is located in Atlanta, Ga., and may be reached at #### Press Release ########################## FundGuard chooses LeaseWave FundGuard LLC, the North Andover, MA-based lease funding provider has chosen LeaseWave to run its portfolio and to take its business relationships online. FundGuard provides a unique solution to a well-known market problem - access to small-ticket lease funding for independent lessors. FundGuard's business model uses the power of the Internet to let independents stay independent while gaining the efficiencies available only to large portfolio companies. It also opens the door to significant opportunities for lease portfolio investors and lenders. To realize this complex business model, FundGuard has selected LeaseWave, Odessa Technologies, Inc.'s Internet-based lease management system. FundGuard's innovative business-model has made national finance local by using the Internet to create a truly integrated information resource for all the players in the small-ticket leasing market. FundGuard's physical facility for storage of active lease documents and full cash management becomes a single physical audit point for lenders, lessors, and investors; national lending programs can be operated without the cost and overhead of multiple offices and multiple audit staffs. The model streamlines the lease portfolio management process by bringing all the information needed to manage a portfolio into one place available from anywhere, eliminating the need for transfer of data from lessor to lender. Portfolio investors are given a powerful way to access the attractive yield and asset diversification opportunities of the small-ticket leasing market. They can define their yield, control credit work, reduce acquisition costs and access a stable flow of assets on a scheduled basis. "After searching the market with a fine-tooth comb, we realized that Odessa Technologies provided the only solution that truly harnessed the power of the Internet; in fact, it was the only Internet-based solution available," says Cam Mears, CEO of FundGuard. "Additionally, LeaseWave is market-tested and will enable us to quickly deliver a top-quality Internet-based service, Odessa Technologies has significant expertise in the US leasing market, and has developed a comprehensive system that is very user-friendly." LeaseWave, built on the Microsoft .NET platform, comprehensively covers lease accounting and asset management. It connects the lessor with all its business partners including with lessees, funding sources, portfolio investors, vendors, brokers, sales reps, etc., through exclusive web-portals. This design makes it a good fit for the complexities of FundGuard's business model. "Most competing systems have their origins 10 or even 20 years ago, built at a time when the Internet was barely known. But the relevance of the Internet has rapidly changed. Nearly every bank and every Fortune 500 company today has a serious Internet-strategy. LeaseWave provides a tremendous opportunity for leasing companies to do the same," says Madhu Natarajan, CEO Odessa Technologies, Inc. About FundGuard: FundGuard is an innovative program that brings together originators, short-term lenders, and portfolio investors in a secure, quality-controlled environment. Based on established business practices, FundGuard provides manual administration, centralized document archiving, and a web-based portfolio management system. Through the FundGuard program, participants realize effeciencies usually available only to large integrated finance companies. The program establishes a clear set of standards for all participants, including lessors, bankers and portfolio buyers. Through real-time connection between parties in the leasing process, centralized control of servicing and full transparency, the model isn't merely a portal into the leasing market but provides the foundation of an entirely new, Internet-powered approach to small-ticket lease portfolio funding. About Odessa Technologies, Inc. Odessa Technologies, Inc. is a software company located in Philadelphia, PA, with a sole focus in building and marketing software solutions to the leasing industry. The LeaseWave suite is its fully-integrated family of products that cater to various parts of the leasing operations, providing an end-to-end solution that is fully Internet-based. Furthermore, recognizing that each business is unique, the LeaseWave suite has been engineered, specifically, to be customizable. Designed using cutting-edge technology and sound functional expertise, LeaseWave can be custom-built to fit around the unique needs of each lessor. While not every client requires customization, the LeaseWave suite is flexible to cater to even the most complex of business models, as evidenced by its strong customer base. LeaseWave is the only end-to-end system that is fully Internet-based. Its technology as well as its ability to be customized easily differentiates it from competing products. For further information, please contact: Jeff Lezinski Cam Mears #### Press Release ########################## Rush Enterprises Announces the Acquisition of Hayes Leasing Company, Inc. SAN ANTONIO----Rush Enterprises, Inc. (Listed on NASDAQ(R): RUSHA & RUSHB), which operates the largest network of heavy-duty and medium-duty truck dealerships in North America and a John Deere construction equipment dealership in Houston, Texas, announced that it has acquired certain assets of Hayes Leasing Company, Inc. ("Hayes"), a GMC and UD medium-duty truck dealer in the Dallas/Fort Worth metroplex. In addition to its full-service Peterbilt dealership acquired in Dallas earlier in 2005, Rush operates a stand alone medium-duty truck dealership in Dallas that offers Peterbilt and Hino medium-duty trucks, medium-duty used trucks and a full line of parts and service. Rush will leverage off of its existing asset base by adding the newly acquired GMC and UD lines to its existing medium-duty truck store, and not acquiring or leasing additional real estate. The purchase price for this acquisition was approximately$3.4 million and was paid in cash. In making this announcement, W. Marvin Rush, Chairman and Chief Executive Officer of Rush Enterprises, Inc. stated, "As we have stated before, we are committed to increasing our medium-duty presence in our existing areas of responsibility. This acquisition allows us to offer a full breadth of medium-duty products in one of the largest truck markets in the United States. We are excited about working with the good people from Hayes and look forward to offering our consistently high-quality products and services to GMC and UD customers in the Dallas/Fort Worth area." About Rush Enterprises Rush Enterprises operates the largest network of heavy-duty truck and medium-duty dealerships in North America and a John Deere construction equipment dealership in Houston, Texas. Its operations include a network of over 40 Rush Truck Centers located in Alabama, Arizona, California, Colorado, Florida, Oklahoma, New Mexico, Tennessee and Texas. The Company has developed its Rush Truck Centers and its Rush Equipment Center as "one-stop centers" where, at one convenient location, its customers can purchase new or used trucks or construction equipment, purchase insurance products, purchase aftermarket parts and accessories and have service performed by certified technicians. For additional information on Rush Enterprises, Inc., please visit www.rushenterprises.com. #### Press Release ########################## ---------------------------------------------------------------
News Briefs---- Jet fuel refining expenses soar http://www.dallasnews.com/sharedcontent/dws/bus/stories/ Katrina-Related Job Losses Reach 279,000 http://www.ajc.com/business/content/shared-gen/ap/Finance_Government/Economy.html Rates on 30-year mortgages highest in 5 months http://www.usatoday.com/money/perfi/housing/2005-09-28-mortgage_x.htm High-end housing bubble likely to pop in hot markets http://www.usatoday.com/money/economy/housing/2005-09-29-syron-bubble_x.htm ----------------------------------------------------------------
You May Have Missed The King of Cookware at age 90 http://www.washingtonpost.com/wp-dyn/content/article/2005/09/27/AR2005092700462.html ----------------------------------------------------------------
California News Brief--- Gay marriage bill vetoed, as promised Governor's decisions anger both sides http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/09/30/SAMESEX.TMP ----------------------------------------------------------------
"Gimme that Wine" No. Calif. Grape harvest may exceed expectations http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/09/29/WIG5GEUU5E1.DTL ----------------------------------------------------------------
Top Event in American History 1962- Rioting broke out when James Meredith became the first black to enroll in the all-white University of Mississippi. President Kennedy sent 3000 US troops to the area to force compliance with the law. Three people died in the fighting and 50 were injured. The next day Meredith was enrolled and began to attend classes amid continuing disruption by protestors. On June 6, 1966, Meredith was shot while participating in a civil rights march at Mississippi. On June 25 Meredith, barely recovered, rejoined the marchers near Jackson, MS. ----------------------------------------------------------------
This Day in American History 1630- John Biliington, one of the first pilgrims to land in America, was hanged for murder, becoming the first criminal to be executed in the American Colonies. He was one of the signers of the Pilgrim's compact. He way-laid a young man, one John Newcomin ( " about a former quarele, and shote him with a gune, whereof he dyed." ----------------------------------------------------------------
Baseball Poem Baseball
TIME FOR THE SEASON TO MAYBE WITH LUCK IT WILL OH, I REALLY DO DOUBT THAT. THINGS AROUND. THE SEASON WILL BE THEN I WILL BASEBALL IS MY FAVORITE SPORT OF THEM GOALS WHICH GIVES THEM
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