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 Headlines---       Alert---The Funding Tree/Legacy                Classified ads--68 
          ads Jobs Wanted---All Types            "Slowdown" 
          reports NACM Credit Manager Index for July,2003              DVI Announces Failure 
          to Make Interest Payment                American Banks 
          New Talent, New Commercial Banking Service                     Computer 
          Sales International Appoints New CFO's                      "It's 
          leadership"-Leasing Association Six Month Report                         Leasing Association Comments 
          from Readers   This 
          Border ##### Denotes Press Release (Not Written By Leasing News) ------------------------------------------------------------------------------------------ 
             Alert---The 
          Funding Tree/Legacy   A 
          highly reliable source has informed us Bruce Peterik  
          has changed his name to  Jack 
          Thompson...and for Funding Tree, and Legacy Leasing, both are   closed.   The 
          question is where is Kendra Bernal.  
          Evidently she did not go to jail, but 
          appears to have flown the coop.   Until 
          about a month ago, her Leasing News 
          e-mail worked, but then started to come back.   Money 
          has it she is back in the leasing business under a different name.   http://www.leasingnews.org/Conscious-Top%20Stories/Nevada_attorney.htm   ------------------------------------------------------------------------------------------- Classified 
          ads--  68 ads Jobs Wanted---All Types   Contract 
          Administrator: Lewisville, TX. 2 1/2 Years banking experience  & almost 3 years Leasing experience. ( 
          Contract Admin) hard Worker, learns quickly & willing to relocate. 
          email: talbotjtalbot2@aol.com   Documentation/Funding/Collection 
          Manager: Phoenix, AZ. Five years in Equipment Leasing Industry. 
          Looking for a Leasing home in Phoenix. Prefer documentation/funding, 
          but interested/open to managing account portfolios. email: 
          rrr64@aol.com   Finance: 
          Austin, TX. 20+ 
          years all facets of lease/finance. Collection and credit management. 
          Equipment & rolling stock structuring. $150k credit authority, $100 
          million portfolio management. email: texmartin@juno.com   Finance: 
          Lyndhurst, NJ CFO 
          w/20+ years leasing/financing. Respected by lenders/rating agencies 
          full & fair financial reporting. Outstanding record restructuring 
          debt. Adept at investor relations and mentoring people. Email:joemcdev@aol.com   Finance: 
          Atlanta, GA Twenty-five 
          plus years experience in middle market lease/ asset based/cash flow 
          transactions. Heavy banking and credit background, with particular expertise 
          in structure and negotiation. Email:brown235@bellsouth.net   Legal: 
          Los Angeles, CA Experienced 
          in-house corporate and financial services attorney seeks position as 
          managing or transactional counsel. Willing to re-locate. email:sandidq@msn.com       To view the full list, please go here: http://65.209.205.32/LeasingNews/JobPostings.htm     to post a “free” job wanted ad:   http://65.209.205.32/LeasingNews/PostingForm.asp   ----------------------------------------------------------------------------------   This 
          Week's Economic Events     August 4   MONDAY  Factory Orders: June     August 5  TUESDAY    August 6  
           WEDNESDAY     August 7  THURSDAY U.S. 
          Productivity: 2nd Qtr. Consumer 
          Borrowing: June Sales 
          of Leading Retailers: July Weekly 
          Jobless Claims    August 8  FRIDAY   -------------------------------------------------------------------------------------------- ### 
          Press release  #########################################      “Slowdown” 
          reports NACM Credit Manager Index for July,2003   COLUMBIA, 
          MD: --The National Association of Credit Management (NACM) has released 
          its Credit Manager's Index (CMI) for July 2003. The CMI, a monthly survey 
          of the business economy from the standpoint of credit and collections, 
          was launched in January 2003 to provide financial analysts with another 
          strong economic indicator.   The 
          CMI survey asks credit managers to rate favorable and unfavorable factors 
          in their monthly business cycle. Favorable factors include sales, new 
          credit applications, dollar  collections 
          and amount of credit extended. Unfavorable factors include rejections 
          of credit applications, accounts placed for collections, dollar amounts 
          of receivables beyond terms and filings for bankruptcies.     The 
          NACM Credit Manager's Index (CMI), while showing growth in the economy, 
          has fallen for the third consecutive month. It has lost 190 basis points 
          since April's reading of 57.3%, indicating slower growth on a month-over-month 
          basis. The manufacturing sector is the reason for the slowing.    The 
          manufacturing index has declined 390 basis points since its April high 
          of 58.0%. Growth in the service sector this month was unchanged from 
          June.    This 
          performance is positive in the sense that the index didn't decline as 
          it did in June. The service index of 56.9% is the second highest reading 
          in the past 12 months for this sector, indicating that growth is still 
          quite strong.      A 
          complete index including results from the manufacturing and service 
          sectors, along with the methodology, is here:   http://www.nacm.org/resource/press_release/pressJuly03.html     The 
          National Association of Credit Management (NACM), headquartered in Columbia, 
          Maryland supports more than 25,000 business credit and financial professionals 
          worldwide with premier industry services, tools and information. NACM 
          and its network of Affiliated Associations are the leading resource 
          for credit and financial management information and education, delivering 
          products and services which improve the management of business credit 
          and accounts receivable. NACM's collective voice has influenced legislative 
          results concerning commercial business and trade credit to our nation's 
          policy makers for more than 100 years, and continues to play an active 
          part in legislative issues pertaining to business credit and corporate 
          bankruptcy.   Contact: 
          Norma Heim, NACM               410-423-1842     ### 
          Press Release ##############################################   DVI 
          Announces Failure to Make Interest Payment   JAMISON, 
          Pa.--3--DVI, Inc. (NYSE:DVI - News) announced  
          that it will not make the scheduled interest payment due today 
          on its 9 7/8% Senior Notes due 2004. Under the terms of the Indenture 
          governing the notes, the failure to make the interest payment may be 
          cured by DVI within 30 days.   DVI's 
          inability to make the interest payment due on the notes is a result 
          of the severe liquidity constraints DVI is currently facing. DVI's liquidity 
          began to tighten as certain of its lenders reduced advance rates following 
          the announcement of credit rating downgrades. DVI's liquidity problems 
          were further exacerbated as the result of a shortfall in the amount 
          of qualifying collateral supporting its borrowings under its principal 
          bank lending facility. The shortfall has triggered a default under the 
          facility. DVI is currently in discussions with its bank lenders to resolve 
          these issues.   DVI 
          intends to consider all alternatives available to it to secure funds 
          to make the interest payment due on the notes and improve its liquidity. 
          DVI and its financial advisors had already commenced discussions with 
          various prospective lenders and other sources of funding and has received 
          several proposals for both short term and long term solutions. However, 
          there are several conditions that must be met to conclude these transactions, 
          including completion of due diligence and negotiation of mutually acceptable 
          documentation. No assurances can be provided that any of the transactions 
          contemplated will be consummated in the next 30 days or at all. Even 
          if DVI is able to complete a limited short term financing transaction 
          of the type discussed with certain potential lenders, it will face significant 
          future challenges, including the need to refinance or re-negotiate various 
          credit agreements.   The 
          failure of DVI to obtain additional funding or resolve the defaults 
          with respect to its bank lending facilities and notes could have a serious 
          adverse effect on DVI's business and on the value of DVI's debt and 
          equity securities.   DVI 
          is an independent specialty finance company for healthcare providers 
          with $2.8 billion of managed net financed assets. DVI extends loans 
          and leases to finance the purchase of diagnostic imaging and other therapeutic 
          medical equipment directly and through vendor programs throughout the 
          world. DVI also offers lines of credit for working capital backed by 
          healthcare receivables in the United States. Additional information 
          is available at www.dvi-inc.com.   Contact:        DVI, Inc.      John F. Schoenfelder, 877-219-1001   ###  Press Release ########################################   American 
          Bank Welcomes New Talent, Unveils New Commercial Banking Service   American 
          Bank announces the appointment of Paul Odlaug as Vice President, commercial 
          banking, leasing specialist.   "We 
          are excited to unveil another valuable American Bank business banking service," 
          said John Seidel, President. "The leasing department complements 
          our other 
          services - such as the recently-added Wealth Management division - and allows 
          us to offer our customers more."   Paul 
          comes to American Bank with over 25 years of experience in the equipment finance 
          and leasing industry. Paul has been involved in all aspects of equipment financing 
          and leasing - from selling financing and leasing, to marketing, portfolio 
          management, pricing, pooling of lease transactions, syndicating structures 
          and transactions, and lease administration. His experience ranges from 
          large multinational corporations like GE Capital and Citicorp to small, independent 
          firms. While at Industrial Credit, Paul developed a finance and leasing 
          program for the machine tool industry that was used nationally.   "At 
          American Bank, I have the opportunity to build a service from the ground up, 
          based on my years of experience," said Paul. "American Bank 
          is a perfect size 
          - small and agile enough to implement new ideas and services as the 
          market demands, 
          and large enough to be a stable force in Twin Cities banking."   About 
          American Bank: Created in 2002 through the merger of Midway and Dakota Banks, 
          American Bank has quickly become a trusted, familiar name in St. Paul. Committed 
          to the community, they recently received an outstanding rating from the 
          CRA (Community Reinvestment Act), which encourages financial institutions 
          to meet the credit needs of the communities in which they operate. American 
          Bank is the largest independently-owned bank headquartered in the Twin 
          Cities metro area with several offices in St. Paul and its surrounding 
          communities. Visit American Bank online at: www.americanbankmn.com. 
             Sites 
          of Reference:   CONTACT: Mark 
          Thorkildson American 
          Bank, St. Paul Phone Number: 651-643-8426 
 
   #### 
          Press Release ###########################################   Computer 
          Sales International, Inc. Appoints New CFO's     St. 
          Louis, Missouri - Computer Sales International, Inc. (CSI) is pleased 
          to announce the joint promotions of Frederick O’Neal and J. Philip Cagney 
          to the role of Executive Vice Presidents and co-CFO.   “CSI 
          has enjoyed tremendous growth under the guidance of these two outstanding 
          individuals,” stated Bill Gillula, President and Chief Operating Officer. 
          “Fred and Phil have played pivotal roles in building our reputation 
          of providing unparalleled service and flexibility. Sharing their collective 
          knowledge in the role of CFO extends the strength of our executive management 
          team well into the future.”   J. 
          Philip Cagney has been employed with CSI since 1986, when he joined 
          the company as an Executive Administrative Assistant, growing to his 
          appointment last year to Executive Vice President. In his new role as 
          EVP and co-CFO, Mr. Cagney will continue to oversee lease pricing, portfolio 
          management, transaction finance and operations. Holding both Bachelor’s 
          and Master’s degrees in Chemical Engineering, Mr. Cagney also earned 
          an M.B.A. from Washington University and has held positions with Monsanto 
          Company and Eli Lilly & Company.   Frederick 
          O’Neal joined CSI in 1990 as Vice President and Treasurer, after serving 
          as President of Mark Twain Leasing, and most recently served as CSI’s 
          Senior Vice President and Treasurer. Mr. O’Neal is a Certified Public 
          Accountant, holds a B.S. degree in Accounting from the University of 
          Illinois and an M.B.A. from Washington University. As Executive Vice 
          President and co-CFO, Mr. O’Neal will oversee financial statements, 
          accounting, tax, contract processing, billing and accounts receivable.    
             CSI 
          is one of the largest independent computer leasing specialists in the 
          world, with operations in the US, Canada, Mexico, Brazil, Central America, 
          Germany and the United Kingdom, generating annual revenues in excess 
          of $500,000,000. More information on CSI is available at www.csileasing.com. 
             Sites 
          of Reference: http://www.csileasing.com   CONTACT: Melia 
          Cothran Computer 
          Sales International, Inc. Phone 
          Number: 314-810-8979 Fax 
          Number: 314-997-7852 E-mail: 
          melia.cothran@csileasing.com 
   ### 
          Press Release ###########################################     “It’s 
          leadership.”       by Christopher Menkin   .Each 
          of the major associations  leadership 
          is responsible for the decline in membership.   As 
          John Deane of the Alta Group so well wrote in 2001 about leadership 
          in   “The Perfect Storm,” ( http://www.leasefoundation.org/pdfs/perfectstorm.pdf) 
          it also applies to the fraternal and professional “clubs,” who’s membership 
          has declined for over two year.  It’s 
          not consolidation or GE Capital buying all the major leasing companies 
          ( actually the portfolio’s , not the companies and employees, as US 
          Leasing went from 186 to 6 and Colonial Pacific Leasing is similar...that’s 
          another story similar to larger banks buying smaller banks.)   Are 
          leasing associations a “club?” Some aspects, yes. Leasing Associations 
          fulfill a purpose, whether you agree or don’t agree. They 
          represent your “business” as no chamber of commerce can; to 
          your colleagues, to your customers, to Washington ,D.C., and various 
          state capitals, and more importantly, perhaps, provide a 
          place to exchange ideas and information.    In 
          the last two consecutive years, four of the five major national equipment 
          leasing associations lost membership.                                                    AGLF      
          EAEL         ELA      NAELB    UAEL 
            
   The 
          National Association of Equipment Leasing Brokers (NAELB---pronounced 
          Nah-elb) gained, 45 in 2002.  The 
          Association of Government Leasing and Finance lost the most then, 111, 
          not counting its executive director. It changed its leadership, Jorie 
          Lagerwey was replaced by Graham Hauck.                                       ELA   This 
          year, the Equipment Leasing Association lost the most to date: 80 members 
          from June to June. It was planned.  
          At the start of the demise in the leasing industry as evidenced 
          by the Leasing News List, the leadership decided to re-define their 
          role, their identity, and formed a special “task force.”   Perhaps 
          foreseeing the coming changes in the industry, ELA leadership decided 
          to look at itself, its role, and the timing could not have been better.  As the National Association of Equipment Leasing 
          did, they planned 
          their future.  The three other 
          associations reacted to it.   Among 
          the several changes that were made, perhaps the more “controversial” was 
          raising the minimum dues to $2200, and creating a minimal fee for members 
          who were active with a company that merger, been purchased, or is no 
          longer in business.   ELA 
          President Michael Fleming summed it up: “There 
          are 177 members in the category that currently pays $1,200 in dues - 
          about 35% of the regular members. They pay 11% of the total dues."   http://www.leasingnews.org/Conscious-Top%20Stories/ELA_taskforce.htm   According 
          to Michael Henderson, director of ELA membership and marketing, the 
          June, 2003 breakdown was:   Regular—428 Associate---250 Business 
          Unit---11 International-25 Arranger-23   “In 
          the dues category (that was adjusted to $2200) we have 140 that did 
          not renew for 2003 (compared to 57 in 2002),” Henderson added.   That’s 
          $168,000 out of your “gross income.”  
             To 
          look at an association from a “body count” appears to be misleading, 
          especially in 
          this instance. While this financial loss may indicate a major concern, 
          but in reality, services have improved, more features have been added, 
          more news, involvement in key projects such as “Capital Hill” and the 
          list serve has never been as 
          active with great leads, communication, and information.       The 
          major leasing corporations appear to be have more attention to their needs 
          being addressed, and therefore appear more interested than before. The 
          staff is more responsive; committees appear to functioning, and  more members are getting  involved.  
          There even appears an undercurrent to expand into foreign 
          leasing marketplaces, such as Europe and elsewhere.  All the members are 
          receiving better benefits for the dollar they spend on belonging to 
          ELA.   “The 
          Equipment Leasing Association exists to promote and serve the general 
          interests of the equipment leasing and finance industry by providing 
          programs of benefit to the industry and its members; providing information, 
          education and communications to the membership and the public; 
          leading in the resolution of general industry problems, and promoting 
          high standards of business practices within the industry.   “ELA's 
          most valuable main offerings are: *          Business Development Opportunities *          Industry Information *          Professional Development & Competency *          Industry Advocacy *        Access to Capital   “Most 
          important, ELA is a strong and healthy trade association because it remains 
          true to its mission.   “For 
          ELA programs to be of maximum value to the membership, each member company 
          must impart value through participation and involvement.       Michael 
          Henderson Director, 
          Membership & Marketing Equipment 
          Leasing Association 4301 
          N. Fairfax Drive, Suite 550 Arlington, 
          VA 22203 703.527.8655; 
          Fax: 703.527.2649 <http://www.elaonline.com>   http://www.elaonline.org/AboutELA/                        NAELB     The 
          National Association of Equipment Leasing Brokers leadership actually 
          planned their role earlier than ELA. In May, 2000 they let 
          go their very popular executive director Cindy Spurdle.   http://www.leasingnews.org/whateverhappenedto/sprudle.htm   The 
          membership was livid.  The reality 
          was not her performance. Remind 
          you, she worked for the United Equipment Leasing Association for 
          a time being, and it was talked at one time she would be the executive 
          director ( but she didn’t want to move, many said.)  She now 
          works supporting the executive director of the Eastern Equipment 
          Leasing Association and as director of the Certified Leasing 
          Professional Foundation.   The 
          board didn’t like the direction, acquiring assets, setting up an office, 
          looking like their were re-building a UEAL type organization. Their 
          goal was to have very low membership dues to attract new members, 
          to continue to hold meetings at inexpensive hotels, not 
          promote golf, and have members not only vote from the floor for 
          directors but to get directly involved in the conferences. A 
          professional management organization would be more effective, they 
          decided, and the goal was to keep the costs low.   NAELB 
          has the lowest rate to join.  All 
          brokers can join for $295 a year and 
          get all the full benefits.  There 
          has always been controversy whether “funders” 
          should join, and while they may, they don’t have any voting rights 
          and pay a larger fee to mingle with potential sales sources. Perhaps 
          the major change is the involvement of ex-UAEL and current UAEL 
          members, such as the former UAEL membership chairman Ginny 
          Young  serving on the conference 
          committee or CLP champion Bob Teichman, who currently is on the UAEL 
          board, serving on the same committee.   In 
          Leasing New’s 2002 survey, we found many belonging to two leasing associations.  You will see from the email that follows part 
          1 that many belong 
          to three leasing associations, plus most funders belong to at least four.  For years, active UAEL directors were also 
          active directors or committee 
          chairman for ELA.       “A 
          few years ago we went to a January 1 billing system for our membership, 
          “explains NAELB President Bob Bell as the reason for the June to June membership 
          drop.   “In 
          an effort to make membership even more affordable (I don't know how 
          you can 
          get much more affordable than $295.00 a year) we adopted a mid year membership 
          of $150.00. This means anyone wishing to join can get all of our 
          benefits ($7.95 for overnight letters with no weight limit, $2.00 credit 
          reports, .039 per minute long distance, $1.00 BusinessCreditUSA reports, 
          access to the online leasing forum, legal support, and many more) 
          for this reduced priced.   “The 
          credit reports for $2.00 is an NAELB exclusive and is formatted expressly 
          for leasing professionals. It contains a "quick look" summary, 
          scoring model, 24 months of inquiries, online directory, and much 
          more relevant information. All for two bucks!   “If 
          anyone wishes to join our merry band of men and women they can e-mail Tammy 
          Marsh at tammyh@clemonsmgmt.com. We hope to have 500 by the end of 
          the year.   “Associates 
          -13 Brokers 
          -380 Funders 
          -44 Total 
          -437 members”   “I 
          thought I would give you a heads up on the up coming NAELB Summer Board 
          of Directors meeting," Bob Bell e-mailed recently " Every 
          year we meet for a weekend in the summer at the facility where we will 
          be holding our next Annual Conference. 
          The 2004 conference will be at the Alexis Park Hotel in Las Vegas 
          April 29-May 1. This is an all suite hotel and we have negotiated very 
          reasonable rates. The decision to have it in Las Vegas reflects how 
          universal our membership has become, as we now have as many West Coast 
          members as we do in the Southeast.    “Here 
          are a few examples based on the survey:   . 
          69% of our member companies have been in business over 5 years. The 
          geographic breakdown goes like this: Northeast 
          18%, Southeast 
          26%, Midwest 
          20%, Southwest 
          12%, West 
          Coast 24%.   86% 
          use the internet daily.   59% 
          responded that they were highly or moderately involved in financial 
          package transactions.   “This 
          is certainly not the ‘old NAELB’.   “This 
          year we've added an extra day (in Las Vegas) to allow Cal Clemons, owner 
          of our management 
          company, to give us the benefit of his three decades of Association 
          Management expertise by conducting a strategic planning session. 
          This was the idea of our former President Gerry Egan and was scheduled 
          last fall. What a concept, planning in advance for a strategic 
          planning session! After Cal's intensive 8 hour interactive session, 
          the Board will examine in detail the 56 pages gleaned from the survey 
          and make long range plans  based 
          on our member's responses.     “We 
          will be announcing shortly our Fall Regional Meetings. After the incredible 
          success last year with our meeting in Marina del Rey with over 
          120 attendees, we have decided to have two this year. The West Coast 
          Regional will be in Irvine on September 19-20 and Atlanta on November 
          7-8.”   September 
          19,2003 Irvine, 
          California Regional 
          Conference   November 
          7-8, 2003 College 
          Park, Georgia Regional 
          Conference   Agenda 
          and more information available at: http://two.leasingnews.org/temporary/NAELB%20flyer%202003.pdf   Certainly, 
          NAELB is no longer your grandmother’s automobile.  They plan 
          ahead.                       Tomorrow: The three leasing 
          association who “reacted.”                             Leasing Association Comments from Readers:   I 
          personally think anyone big or small, who does not belong to at least one 
          Leasing Association is crazy.  It's 
          no different than any other professional 
          who needs to have their skills honed and upgraded at least once 
          a year.  I feel this certainly 
          is true for funders and brokers alike.   As 
          a charter member and Past President of the NAELB, I have found that membership 
          to be invaluable.  You get to 
          know others in the industry and you 
          get to be known.  Hopefully you 
          will be known and respected by many folks 
          who can help you succeed, as well as being in a position to help others 
          learn, grow and prosper.   It's 
          a wonderful two-way street to be strolling and/or running down, when 
          suddenly you need help or advice in your business.  It's also nice to 
          make friends with peers who are not potential competitors so you can freely 
          share information.  My company 
          was blessed last year and able to double 
          our business.  It was almost 
          embarrassing to talk to other folks who 
          were crying the blues about how bad things were.  
          We are continuing this 
          year with another 20% growth in the first 6 months.  
          Without the things 
          I learned and the people I met in the NAELB, none of that would have 
          been possible.  Thanks and hats 
          off to the NAELB Founders and the hundreds 
          of you that continue to support that organization.   For 
          any of you that don't agree with the way any of the Associations are being 
          run or the directions they are taking, feel free to contact their officers 
          and board members and discuss your views.  
          Better yet, find out how 
          you might assume a leadership role within the Association if you feel 
          you have talent and ideas to offer.  
          Be a participator, now a complainer!  Be a winner, not a whiner!   Ciao 
          and best of luck to all of you!   Gerry 
          Oestreich Adirondack 
          Leasing Associates Ltd   PS  Sorry Kit, I couldn’t shorten this up!  There's just too much good to say 
          that really has to be said!  ---     -----     On 
          the subject of Associations...Boston Financial & Equity belongs 
          to the ELA, 
          EAEL, UAEL, CFA (Commercial Finance Association), TMA (Turnaround Management 
          Association),ELFF(Equipment Leasing & Finance foundation), ACG (Association 
          for Corporate Growth) and the MIT Enterprise Forum. As 
          Randy Haug said it...belonging to an association should be considered 
          a marketing 
          and sales tool..not an expense as such. We have made valuable contacts 
          from each association. I have sourced new deals, made new friends, used 
          many an attorney, equipment appraisers/auctioneers, bank contacts, received 
          advice, asked advice, educated myself as well as my employees, received 
          the benefits of government lobbying efforts, UCC information, new legal 
          developments...etc etc etc. Why would anyone NOT belong?   To 
          take it a step further..I am on the boards of 3 of these organizations and 
          have enjoyed every minute of it. Yes, its takes some time out of my schedule 
          but it is worth the time and money.  
          Not only have I been able to get to know 
          a great group of people in a smaller setting...I get to give back to the 
          industry and am able to put my 2 cents in (which most times is more 
          than just 
          2 cents)...why just sit back and let everyone else do the work? Think about 
          not just joining...but joining a committee..you may find it's actually fun 
          and enjoyable.   Sincerely, Deborah 
          J. Monosson President BOSTON 
          FINANCIAL & EQUITY CORPORATION 20 
          Overland Street Boston 
          MA 02215 617-267-2900 
          Tel 617-437-7601   ---       I 
          work for a large finance company and I am sure they have  corporate 
          leasing association memberships, although they want  us 
          to be more active in trade organizations... construction.   I 
          think a connection to your target industry is very  important. 
          When I serviced the electronics industry I joined  the 
          SMTA( Surface Mount Technology Association ). I became  the 
          chapter president for 3 years. It was a big boost for my  career. 
          I am now a member of the AGC.   There 
          is only so much time for organizational work. I think  the 
          big choice is whether to be very active in a targeted  trade 
          industry or leasing organization. Maybe a better option  is 
          to be somewhat active in both.    Given 
          the state of the leasing industry, it is important to  at 
          least receive leasing industry news sources such as The  Monitor 
          and Leasing News.       Best 
          Regards,    Brian 
          Carey  CIT e-mail:  brian.carey@cit.com phone 
          number: 408/997-2456 fax 
          number:   408/927-8069  Cell:          408/623-5571     ---        Regarding 
          today’s leasing associations…   The 
          promotion of “education, fellowship, and betterment of one’s occupation”, 
          might be a just and noble cause; however, my 35 years (I told 
          you I was a “Jurassic Lessor”!) in this industry have primarily been 
          motivated by my desire to make money.   I 
          have long supported our industry associations, but I do think they have 
          lost sight of the real mission. I founded the Lessors Network to accomplish 
          one simple objective, to provide a forum for the proactive participants 
          in our industry to identify new business opportunities. We leave 
          the education, political action committees, etc, to the associations, 
          and I think they’re doing a good job, but I can’t remember the 
          last time I found a real business opportunity at one of their meetings.   I 
          don’t know about the rest of you, but I’m interested in closing deals and 
          making money. After that I'll play golf. Remember, it’s all about networking!   The 
          Last Capitalist (grin) John 
          Semon The 
          Lessors Network   ---            ( 
          More reaction tomorrow )   --------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------ 
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          Briefs---       Bond 
          Prices May Fall, but the Market Can't Really Crash http://www.washingtonpost.com/wp-dyn/articles/A14114-2003Aug2.html       As 
          interest rates rise, bond mutual funds pummeled http://www.usatoday.com/money/markets/us/2003-08-04-bonds_x.htm      Market for Guaranteed Bonds Shriveling http://www.absnet.net/include/showfreearticle.asp?file=/headlines/aba.htm       Prepayments 
          set for slowdown in the fall http://www.absnet.net/include/showfreearticle.asp?file=/headlines/asr.htm        Why rates leaped for business 
          mortgages.           New tax laws changes stock option 
          strategies         
 Sports 
          Briefs---       Redskins 
          re-sign QB Wuerffel  http://www.theredzone.org/news/showarticle.asp?ArticleID=222       Stram's 
          taped speech highlights Hall enshrinement  http://www.theredzone.org/news/showarticle.asp?ArticleID=221       Terrell 
          Davis: "I've Pretty Much Moved On" http://www.denverpost.com/Stories/0,1413,36~86~1549556,00.html       Emmitt 
          rips Cowboys in Sports Illustrated article http://eastvalleytribune.com/index.php?sty=7888              Tyson's 
          finances down for the count, Files Chapt. 11 http://www.usatoday.com/sports/boxing/2003-08-03-tyson_x.htm   This 
          Day in American History and Two French Events---        1693 
          - It is believed that a monk named Dom Perignon invented champagne at 
          the Benedictine Abbey of Hautvillers in the region of Champagne, northern 
          France. He made the first champagne by re-fermenting a certain wine 
          in the spring and then placing it in strong, sealed bottles so that 
          the wine would become sparkling. Dom Perignon was the Cellar master 
          for 47 years until his death in 1715. The sparkling wine was crude and 
          perhaps the first one to produce what we drink today was Mme. Nicole-Barbe 
          Clicquot, who developed the sur pointe process that clarified the sediment 
          out of sparkling wines. She was also an astute business person, especially 
          in a day that women did not run business.   Nicole Barbe Clinquot was the daughter of the mayor of Reims who 
          at 20 was widowed with a daughter after three years of marriage to a 
          vintner. She vowed to carry on her husband's business.   
          She developed the process of remuage (moving) in which the bottles 
          of wine are stored upside down (on their corks or sur pointe) and then 
          the bottles are shaken periodically and then rotated to force the sediments 
          in the wine to settle down on the cork.    
          After a certain period, the cork is quickly removed, the sediment 
          is expelled by the wine gases and then the bottle is quickly re-corked. 
          The widow Clinquot also invented pink champagne. My favorite in Louis 
          Roederer, but a Grand Madame Clinquot, now that is a fine sparkling 
          wine! Here 
          is a secret.  You can serve “Champagne” 
          with everything.  If you cannot match 
          a wine to a food, serve “Champagne.”  
          Next, a very good beer.  Don’t laugh, 
          some fine beer goes with everything ( especially if it is “fresh.”) 
           http://www.umc.fr/encyclopedie/vignes_au_plaisir/veuve_clicquot.htm    1735 - Freedom of the press was established 
          in the United States when John Peter Zenger, publisher of the New York 
          Weekly Journal, won an acquittal of the libel charges placed by Gov. 
          William Crosby. The royal governor had tried to censor Zenger's attacks 
          on the British crown.    1753 - George Washington became a Master Mason. http://memory.loc.gov/ammem/today/aug04.html1790-U.S.Coast 
          Guard founded.  http://www.uscg.mil/hq/g-cp/history/collect.html    1810-Birthday of abolitionist Robert Purvis. 
          He ran all the Underground Railroads from his home and was the founder 
          of the American Leasing Anti-Slavery  
          Society. http://www.nyjournalnews.com/blackhistory/purvis.html http://www.spartacus.schoolnet.co.uk/USASpurvis.htm    1830- Plans for the city of Chicago laid out. http://www.1upinfo.com/encyclopedia/C/Chicago-history.html http://www.aviewoncities.com/chicago/chicagohistory.htm     1838-Emancipation of slaves  in the Bahama’s and Grenada this day by the 
          British . A rumor started in the South that salves would try to escape 
          to the Bahama’s and fear of this lead to stricter attitudes and positions 
          of slavery, especially by the many large slave owner who relied on the 
          “free” labor at their farms, called plantations.    1873- While protecting a railroad survey party 
          in Montana, Custer and his 7th Cavalry clash for the first time with 
          the Sioux Indians, who will defeat them three years later at Little 
          Big Horn. During the previous two years, Lieutenant Colonel George Armstrong 
          Custer and his 7th Cavalry had not fought a single battle against the 
          hostile Indians of the western Plains. Hungry for action, Custer was 
          pleased when the 7th Cavalry was ordered to help protect a party of 
          surveyors laying out the route for the proposed Northern Pacific Railroad. 
          The new transcontinental railroad (the third in the United States) was 
          to pass through territory controlled by hostile Sioux Indians. Custer 
          was optimistic that the assignment would give him a chance to improve 
          his reputation as an Indian fighter. Initially, the military escort 
          saw little action. The hostile Indians seemed to be avoiding or ignoring 
          the survey party. For Custer, the mission turned into something of a 
          lark. He spent much of his time shooting buffalo, antelope, elk, and 
          other animals. To find good hunting, he often led the 7th Cavalry far 
          away from the survey party and the main body of the military escort. On 
          this day in 1873, Custer was far ahead of the rest of the force, camping 
          along the Tongue River in southeastern Montana. Suddenly, a large band 
          of Sioux warriors appeared on the horizon and attacked. The Indians 
          were led by Crazy Horse and Sitting Bull, but the young braves seemed 
          to have attacked impetuously and with little planning. Custer, who had 
          been taking an afternoon nap, reacted quickly and mounted an effective 
          defense. After a brief skirmish, the Indians withdrew. Since only one 
          soldier and one Indian were killed in the skirmish, Custer's short battle 
          along the Tongue River seemed relatively insignificant at the time. 
          However, Custer's easy escape in his first encounter with Sitting Bull 
          and Crazy Horse may have given him a dangerously scornful view of their 
          fighting abilities. It helped to confirm his belief that the Plains 
          warriors tended to flee rather than fight. As a result, when Custer 
          again encountered Sitting Bull and Crazy Horse at the Little Big Horn 
          River three years later, his greatest fear was that they would withdraw 
          before he could attack, and he rushed in without proper reconnaissance. 
          That time, though, the Indians stood and fought, leaving Custer and 
          more than 200 of his men dead.        1874 -Methodist clergyman John H. Vincent 
          (1832-1920) and Ohio manufacturer Lewis Miller established the Chautauqua 
          Assembly in northwest New York state a summer retreat center combining 
          recreational activities with the training of Sunday School teachers 
          and other church workers.     1875 - The first Convention of Colored Newspapermen 
          was held in Cincinnati, Ohio. The convention's aim was to promote the 
          establishment of United States newspapers that would focus on the African 
          American community.    1881- 122ø F (50ø C), Seville, Spain (European 
          record)    1897-Blackman Henry Rucker appointed Collector 
          of Internal Revenue for Georgia http://www.ga3d.net/sweetauburn/rucker.htm    1900-Louis Armstrong, Jazz musician extraordinaire 
          born at New Orleans, LA. Died at New York, NY, July 6, 1971. Perhaps 
          the greatest jazz trumpet player who 
          ever lived. Asked to define jazz, Armstrong reportedly replied, "Man, 
          if you gotta ask, you'll never know." The trumpet player was also 
          known as Satchmo. He appeared in many films. Popular singles included 
          "What a Wonderful World" and "Hello, Dolly" (with 
          Barbra Streisand) and “High Society.” Two of my favorite albums 
          are “Armstrong Plays W.C. Handy” and “Ella and Louis.” http://www.redhotjazz.com/louie.html http://www.amazon.com/exec/obidos/search-handle-form/103-5362656-4423850 Best 
          Louis Armstrong Vocal: My 
          favorite single Armstrong Album:     1904-Trumpet player Bill Coleman birthday, 
          Centreville, KY1904-pianist/alto sax/trumpet player Kenneth Anderson 
          born Pittsburgh, PA (see 
          the list: http://jazzinstituteofchicago.org/index.asp?target=/jazzgram/bronzeville/union/part3.asp  )    1905- Piano player Joseph Louis “Red” Cayou 
          born New Orleans, LA" , 
          LA  Died May 12, 1994.     1910-Birthday of American composer  William Howard Schuman who won the first Pulitzer 
          Prize for composition and founded the Juilliard School of Music, born 
          at New York. His compositions include American Festival Overture, New 
          England Triptych, the baseball opera The Mighty Casey and On Freedom's 
          Ground, written for the centennial of the Statue of Liberty in 1986. 
          He was instrumental in the conception of the Lincoln Center for the 
          Performing Arts and served as its first president. In 1985 he was awarded 
          a special Pulitzer Prize for his contributions. He also received a National 
          Medal of Arts in 1985 and a Kennedy Center Honor in 1989. Schuman died 
          at New York City, Feb 15, 1992.    1916 - Denmark agreed to cede the Danish West 
          Indies, including the Virgin Islands, to the United States for $25 million. 
          The deal took effect the following March 31.       1919-Birthday of Glenn Clarence Cunningham, 
          the "Kansas Ironman," American track athlete and 1934-37 world 
          record holder for the mile, member of the US Olympic teams in 1932 and 
          1936, was born at Atlanta, KS. On June 16, 1934, at Princeton, NJ, Cunningham 
          set a world record for the mile (4:06.7 min). Cunningham died at Menifee, 
          AR, Mar 10, 1988.   1920-   Birthday 
          of  Helen Thomas - U.S. journalist..  
          One of nine children of Lebanese immigrants who arrived in the 
          U.S. with $17, she worked her way through college. Her parents ran a 
          grocery store. Her parents kept the accounts in their heads because 
          they could not read or write. Like typical immigrants who wanted a better 
          life for their children, they encouraged Helen Thomas and all of her 
          sisters and brothers to get an education She went to Washington, DC 
          got a job for the-then United Press (later United Press International) 
          to write women things for radio but her ambition and willingness to 
          work on her own enabled her to move up to covering the Justice Department, 
          various government agencies, even Congress.    
          After covering, mostly on her own, the newly elected John Kennedy, 
          she began attending White House press conferences, also on her own.   She was promoted to White House correspondent 
          in 1970 just in time for the Watergate scandals. She was the only member 
          of the print media to accompany President Nixon on his noted trip to 
          China in 1972. She became bureau chief in 1974, the first woman to ever 
          hold such a post with any news service.   
          She made friends with Martha Mitchell, the wife of Nixon's attorney 
          general John N. Mitchell who was jailed for his involvement in the Watergate 
          break-in cover-up. Martha Mitchell, in late night phone conversations, 
          confided to  her suspicions and outrage over the Watergate 
          incident and attempts to hide it.    A determined feminist, she forced the National 
          Press Club to "allow" women journalists to attend the luncheon 
          that would be address by visiting Soviet premier Nikita Khrushchev. 
          Thomas later became an officer with the Press club and would become 
          president of the Gridiron Club, an exclusive press organization.    Her questioning of presidents, demanding that 
          they be held accountable made her many enemies, but she was seen as 
          one of the most reliable reporters in Washington. Because of her Lebanese 
          ethniticity, she was accused of being pro-Arab, which she was not. Such 
          as charge of prejudice was never made towards any male reporter no matter 
          what their religion, ethnic background, or social connections were.   Because of her seniority, she had the singular 
          honor of being the regular whose dignified "Thank you, Mr. President" 
          signaled the end of White House press conferences. But before the honored 
          phrase, she was known to ask devastating and perceptive questions of 
          all eight of the presidents she reported on. She was tough, shrewd, 
          and always fair gaining respect from all of the eight presidents she 
          made squirm with her no nonsense questions. She was one of the few reporters 
          who sought answers rather than positioning themselves for promotions.    When UPI was sold in May 2000 to a communications 
          corporation with ties to the Unification Church that owns a right-wing 
          newspaper, MT, 79, said she'd step down. She said she intends to write 
          a book, may syndicate a column, and give speeches.   "Presidents come and go, but Helen's 
          been here for 40 years now, covering eight presidents and doubtless 
          showing the ropes to countless young reporters and, I might add, more 
          than a few press secretaries," President Clinton said at her retirement.    "Whatever she decides to do, I'll feel 
          a little better about my country if know she'll still be spending some 
          time around here at the White House. After all, without her saying, 
          'thank you, Mr. President,' at least some o us might never have ended 
          our news conferences," he said.    "Even though she has her own opinion, 
          her reporting is straight down the middle and it's all hard news - none 
          of this analysis and chin-stroking that goes on in journalism today," 
          former White House press secretary Mike McCurry said.     1921-guitarist Herb Ellis born McKinley, Texas http://www.arjazz.org/artists/hof/1994/94_herb_ellis.html http://www.classicjazzguitar.com/artists/artists_page.jsp?artist=12 http://www.guitar-masters.com/Players/Player-Ellis.html http://www.canuck.com/jazz/Ellis.html   1927 - The General Electric Station in Schenectady, 
          New York, station 2XAG which was later named WGY, began experimenting 
          with operations from a 100,000-watt transmitter. The FCC would later 
          regulate the power of AM radio stations to not go over 50,000 watts 
          on "clear channels" where few stations would interfere with 
          each other.     1927 - For Victor Records in Bristol, Tennessee, 
          singer Jimmie Rodgers recorded his first songs. On the record he sang 
          "Sleep Baby Sleep" and "Soldier’s Sweetheart".    1933-Sax player Sonny Simmons born Sicily Island, 
          Louisiana. http://www.gallery41.com/JazzArtists/SonnySimmons.htm 
          http://www.vh1.com/artists/az/simmons_sonny/bio.jhtml http://www.hollowear.com/reviews/simmons.html http://ubl.artistdirect.com/music/artist/bio/0,,493395,00.html?artist=Sonny+Simmons    1934 
          - The first major league baseball player to score 6 runs in one game 
          became Mel Ott today.    1936-"Long" John Woodruff wins an 
          Olympic gold medal in the 800-meter run http://www.fay-west.com/connellsville/historic/woodruff.php http://www.greaterconnellsville.org/woodruff/commemorativeprintform.htm    1940 - "Crime Doctor" introduced 
          a new radio hero. CBS radio presented Dr. Benjamin Ordway, the show’s 
          main character, as an amnesia victim. A former criminal, he got hit 
          on the head, and began to work as a crime fighter.    1944 - Nazi police found Anne Frank and her 
          family, hiding in secret rooms above her father’s factory in Amsterdam, 
          Holland. Anne was 15 years old at this time and had kept a diary during 
          the two years of hiding from the Nazis. After the arrest, Anne and her 
          sister were taken to a concentration camp. Anne Frank would die at Bergen- 
          Belsen. Later Anne's diary was found and has since been translated into 
          30 languages, and adapted as both a play and a Hollywood film.     1947---Top Hits Peg 
          o’ My Heart - The Harmonicats That’s 
          My Desire - The Sammy Kaye Orchestra (vocal: Don Cornell) I 
          Wonder, I Wonder, I Wonder - Eddy Howard Smoke! 
          Smoke! Smoke! (That Cigarette) - Tex Williams    1953-drummer Jeff Hamilton born Richmond, 
          Indiana http://www.hamiltonjazz.com/hamiltonbio.html    1954 - In Saskatchewan, Canada, the uranium 
          rush began.     1954 - Alfred Hitchcock's Rear Window had 
          its world premier at New York's Rivoli Theater.     1955---Top Hits Rock 
          Around the Clock - Bill Haley & His Comets Ain’t 
          That a Shame - Fats Domino Learnin’ 
          the Blues - Frank Sinatra I 
          Don’t Care - Webb Pierce     1955 - To Catch a Thief, starring Cary Grant 
          and Grace Kelly and directed by Alfred Hitchcock, debuted in New York 
          on this date. The film later received an Oscar for Best Color Cinematography. 
              1956 - at Wendover, Utah, Wilhelm Herz was 
          clocked at 210 miles per hour, making him the first person to race a 
          motorcycle over 200 miles-per-hour.     1957 - A world record was set by Florence 
          Chadwick who swam the English Channel in 6 hours, 7 minutes.     1957 - Juan Fangio won his last car race, 
          winning the world auto driving championship for the fifth consecutive 
          year.     1958- Billboard magazine introduces its "Hot 
          100" chart, a list of the 100 best-selling pop singles in the country. 
          This list replaced multiple charts the magazine had previously published, 
          including Best Sellers in Stores and Most Played in Juke Boxes. The 
          first song to top the Hot 100 list was "Poor Little Fool" 
          by Ricky Nelson.     1958- Dumont TV Network crumbles. My father 
          was a producer/writer/director for the Dumont network, creating among 
          shows such as “Harlem Detective,” “Captain Video,” “Hands of Murder.”  He met often with Dr. Dumont, who 
          he once gave one of the exploding cigars I put in his pocket as a kid.  Dumont was a scientist and not a “showman,” 
          losing Jackie Gleason 
          among others.  My father worked 
          right under Ted Bergman, who 
          I remember my father respected, but Dr. Dumont was not a 
          businessman ( nor was my father. ) http://members.aol.com/cingram/television/dumont2.htm http://www.museum.tv/archives/etv/D/htmlD/DuMont/DuMont.htm    1961- 108ø F, Spokane, WA  (record) >http://aviationweather.gov/wxfact/AUG.html    1962-Jamaica Independence Day. National holiday 
          observing achievement of Jamaican independence form Britain August 6, 
          1962. Annually the first Monday in August.     1963---Top Hits So 
          Much in Love - The Tymes Fingertips 
          - Pt 2 - Little Stevie Wonder (You’re 
          the) Devil in Disguise - Elvis Presley Ring 
          of Fire - Johnny Cash    1964-After disappearing on June 21, three 
          civil rights workers were found murdered and buried in an earthen dam 
          outside Philadelphia, MS. The three young men were workers on the Mississippi 
          Summer Project organized by the Student Nonviolent Coordinating Committee 
          (SNCC) to increase black voter registration. Prior to their disappearance, 
          James Chaney, Andrew Goodman and Michael Schwerner were detained by 
          Neshoba County police on charges of speeding. When their car was found, 
          burned, on June 23, President Johnson ordered an FBI search for the 
          men.   1971---Top Hits You’ve 
          Got a Friend - James Taylor Mr. 
          Big Stuff - Jean Knight Draggin’ 
          the Line - Tommy James I’m 
          Just Me - Charley Pride   1972 
          - Superfly, starring Ron O'Neal, opened in theaters. Starring Ron O'Neal 
          and directed by Gordon Parks, Jr., Superfly's success at the box office 
          and unexpected acclaim prompted two sequels. The plot centers on a Harlem 
          drug dealer who wants to retire. Curtis Mayfield's dynamic soundtrack 
          set it apart from similar low-budget films.    1979---Top Hits Bad 
          Girls - Donna Summer Good 
          Times - Chic Ring 
          My Bell - Anita Ward You’re 
          the Only One - Dolly Parton    1981 - A United States court ordered striking 
          air traffic controllers back to work and fined their union $2.4 million 
          a day for the duration of the strike. 1983 - During warm-ups, New York 
          Yankee outfielder Dave Winfield threw a baseball and accidentally killed 
          a seagull. When the game was over, Toronto police surrounded the batter 
          and arrested him for "causing unnecessary suffering to an animal."    1987---Top Hits Shakedown 
          - Bob Seger I 
          Still Haven’t Found What I’m Looking For - U2 I 
          Want Your Sex - George Michael Snap 
          Your Fingers - Ronnie Milsap    1995- Long time coach Jimmie Reese, whose 23 years in an Angels uniform 
          equals longest in club history is inducted into the Angels' Hall of 
          Fame. The former roommate of Babe Ruth began his career as a batboy 
          for the Pacific Coast League's Los Angeles Angels in 1917.     1995 - Babe, the charming sleeper hit about 
          a pig who learns to be a sheep dog, debuted in United States movie theaters. 
          The gentle film, with state-of-the-art computer technology, thrilled 
          audiences young and old, and the film garnered many awards and nominations, 
          including the Golden Globe for Best Motion Picture - Comedy/ Musical, 
          and it was nominated for a Best Picture Oscar. Veteran actor James Cromwell 
          received an Oscar nomination for Best Supporting Actor for his role 
          as Farmer Hoggett, and director Chris Noonan received the New York Film 
          Critics Circle Awards for Best New Director. The National Society of 
          Film Critics declared it Best Film of the Year. Christine Cavanaugh 
          supplied the voice of the hero pig, and Roscoe Lee Browne was a moving 
          narrator. Babe was based on the book "The Sheep-Pig" by Dick 
          King- Smith.     1997 - The world's oldest person, Jeanne Calment, 
          died aged 122 years and 164 days in Arles, France. 
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