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SEAN M.
HAFFEY / San Diego Union-Tribune
The
U.S. women's 4x400 relay team of (from left) Monique Hennagan, DeeDee
Trotter, Sanya Richards and Monique Henderson (Morse High) sport the
American flag after winning the gold medal Saturday. Both U.S. 1,600
teams won.
Monday,
Headlines---
NorVergence
Bankruptcy Hearing
EFG
Launches New Inside Sales Office
######## surrounding
the article denotes it is a “press release”
Any
questions regarding advertising during my vacation should be
address
to Maria Martinez-Wong maria@leasingnews.org
Kit
Menkin
|
Classified
ads---Sales
“I have been running my ad for some time in Leasing
News and while I have received many brokers looking to add me to their
company I really want to return to the financial world of a major (or
smaller) leasing company with a back room salary and benefits.
I am attaching my resume for your review. I would ask that you
change my email address to jim_jrd@msn.com since that is the business email
I use.
Jim Denhard
Sales: Louisville, KY
27 years veteran of the construction, machine tool, manufacturing
and transportation market. Located in Louisville , KY willing to transfer
for the right company. Looking
for full time employment with base and benefits.
Email: jim_jrd@msn.com
Cover Letter: http://64.125.68.90/LeasingNews/Resumes/Cover%20Letter%2004.pdf
Resume: http://64.125.68.90/LeasingNews/Resumes/James%20Denhard%2004-CT%20Resume.pdf
---
Atlanta,
GA.
15
years BD experience in small/mid ticket leasing. Strong cross section
book of business w/extensive customer base of
Seeking
sales/sales management position.
Email:
flowageman@aol.com
Bakersfield,
CA.
I
have an extensive sales and management background in equipment leasing.
My work history exhibits my major strength in small ticket equipment
leasing. Email: pangress@msn.com
Boston,
MA.
Middle
market originator, construction/Trucks /
Email:
mrichlease@comcast.net
Cedar
Rapids, IA.
Formally
trained in Credit, Collections, & Sales with regional bank. Seeking
sales or sales management. Over ten years in SM,
Email:
mjrprime@yahoo.com
Central,
NC.
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base.
Email:
sunriseleasing@aol.com
Chicago, IL.
12+ yrs multinational/ national sales & business development. Seeking role with captive lessor or global leasing company. Will relo right opportunity. Experience structuring complex transactions.
Email:
leasingismylife@yahoo.com
Dallas,
TX
30
years lease experience. Looking for Lender wanting to get into the Electronic
Market can bring 11 years experience with national
vendors and customers.
Email:
alpnb@msn.com
Denver
CO.
Experienced
Equipment Leasing Broker looking for a in house leasing company. Can
bring a book of business with me or develop new territory where needed.
Email: Steven@eagle2.net
Detroit
Mi
5 yrs sales experience in IT small ticket leasing/Greenbelt Certified with Fortune 100 company/strong communication and negotiation skills/book of business available.
Email:
scottpoko@comcast.net
Greensboro, N.C.
Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Email:
kc1492@aol.com
Kansas
City, MO.
15+
years in finance/leasing industry, extensive knowledge in sales and
management. Specializing in construction,
Email:
Financerep@aol.com
Kansas
City, MO.
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12 Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Email:
dhundley1@kc.rr.com
Los
Angeles, CA.
12+years Leasing sales, underwriting/contract exper. including hi-tech, govt, direct & vendor leasing. Seeking role w/institution or captive. Exper. w/ complex transactions, including securities. Possible relocation.
Email:
rahlease04@hotmail.com
Louisville,
KY
27 years veteran of the construction, machine tool, manufacturing and transportation market. Located in Louisville , KY willing to transfer for the right company. Looking for full time employment with base and benefits.
Email:
jim_jrd@msn.com
Resume
| Cover letter
Mission
Viejo, CA
Account
Sales Executive with 10 years of leasing experience looking for company
to bring existing customer base.
Email:
makelly21@hotmail.com
Montgomery,
AL.
Individual
with 10 years advertising sales exp. & 7 years insurance sales exp.
Wants independent contractor situation in Alabama.
E-mail:
billmcneal2003@yahoo.com
Nashua,
NH.
10+ years sals experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
E-mail:
RPepa@aol.com
Orange
County, CA.
Skilled deal-closer at above-average rates. Entrepreneurial. Accomplished lease-structurer specializing in transportation. Exp. in direct/ captive & syndicator environments servicing vendors, brokers, & end-users.
Email:
originator@sbcglobal.net
Philadelphia , PA
Seeking
an open
leasing & finance industry.........
Email:
alexe362002@yahoo.com
Prairie Village, KS
Have
substantial deal flow and database of broker referral sources. Generated
and closed over $22M LY. Seeking exclusive relationship w/direct founder.
Email: fiergl@aol.com
Princeton, NJ:
Regional Sales Manager: Last 15 years with captive. Knowledgeable in all aspects of leasing. Application to funding. Worked with 25 salespeople -
east coast.
Email:
denisregan@msn.com
San
Bernardino, CA.
Account
executive w/4 years exp. in small ticket &lower end middle market
lease transactions, Outstanding ACT database compiled of over 500 vendors.
Seeking a career driven position w/a reputable lessor
Email:
moneytoloan@hotmail.com
San
Francisco Bay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only. Transaction size from $500M to $10.0MM. Client base: printing, food, retail, manufacturing.
Email:
edm173@sbcglobal.net
SF
Bay Area, CA.
15+ yrs--mid mkt. $500M to $10.0MM. Seeking role w/ captive or global leasing firm. large book to bring with me! Debt, tax, 1st amendment, etc.
Email:
lac4002@yahoo.com
San
Francisco, CA.
Business Development "Hunter" with 20 years experience, 5 ½ in development of CONTRACTUALLY BASED VENDOR PROGRAMS primarily in high tech. Can bring rolodex, not programs.
E-mail:
BizDev7@aol.com
San
Francisco, CA.
18 years of sales production, the last 10 in technology leasing to both traditional and emerging growth credits. Seeking direct funder.
I can close for you!
Email:
bamrborges@msn.com
South
Central U.S.
TX,
OK, KS & AR Territory.
Equipment
finance and leasing professional,
20
years experience. Top producer in middle
to upper middle markets. Extensive customer base.
Email:
leasingrep2004@yahoo.com
Tampa, FL.
27 years experience. Very adept in bank lease programs and direct sales in MM/LT. Looking to re-enter the industry. Will relocate to Texas. Hungry.
Email:
cwilliams@triit.com
full listing of all ads at:
http://64.125.68.90/LeasingNews/JobPostings.htm
post your fee “job wanted” ad here:
http://64.125.68.90/LeasingNews/PostingForm.asp
------------------------------------------------------------------------------
|
Your One stop solution for training and reference material for the Leasing Professional
www.theleasinglibrary.com |
Economic
Events This Week
Monday
August
30
Personal
Income: July
Tuesday
August
31
Consumer
Confidence: August
Wednesday
September
1
Construction
Spending: July
Thursday
September
2
Weekly
Jobless Claims
--------------------------------------------------------------------------
Leo
Portney Passes Away
“I am Leo Portney's wife, my husband
passed away on
August 6, 2004.”
Sincerely,
Rita D. Portney
rlport@yahoo.com
September, 2002, Leasing News reported:
“Leo Portney is convalescing at his home in Columbia, SC
after brain
surgery last Tuesday to remove two large tumors. There are five
smaller
tumors that the doctors will start treating with radiation in about
three weeks. Leo is in good spirits, but said he is bored doing cross
puzzles and reading so he invites his friends to email him ....”
Leasing News remembers he was a top credit person at Republic
Leasing
of South Carolina, left due to his illness, and then worked
intermediately
for LFI Financial, as Charlie Lester wanted to keep him active
and
thinking as long as he could.
From the Columbia TheState.com
COLUMBIA
- Funeral service for Leo Roberts Portney, 59, (were) held at 10:00
a.m. Monday at St. Michael and All Angels' Episcopal Church with burial
to follow in the church cemetery. The family
(received) friends 6-8 p.m. Sunday at Dunbar Funeral Home, Devine
Street Chapel. Memorials may be made to the American Cancer Society.
Mr.
Portney died Friday, August 6, 2004. Born in Savannah, Ga., he was a
son of the late Leon Roberts, Sr. and Agnes Virginia Leaming Portney.
A longtime Bulldog fan, he received his B.S. and Master's degrees from
the University of Georgia. In the 1970's he helped pioneer the introduction
of ATM's in South Carolina.
Mr.
Portney was a loving father and good friend to all and will surely be
missed.
Surviving
are his wife, Rita D. Portney; sons, Charles Portney and Craig Portney,
both of Columbia; daughter, Christine Ramos of Columbia; brother, Robert
Portney of Huntsville, Ala.; sisters, Ginger Klapp of Lancaster, Va.
and Patricia Stern of Potomac, Md; 3 grandchildren; and the mother of
his children, Jane Speight of Columbia.
-------------------------------------------------------------------------------
NorVergence
Bankruptcy Hearing
by
Christopher Menkin
The
first meeting of creditors regarding the filing of Chapter 7 bankruptcy
was held at 2:00pm, Friday, August 27, at the office of US Trustee,
Raymond Blvd, One Newark Center, Suite 1401, Newark, New Jersey.
The Honorable Rosemary Gambardella is the United
States Bankruptcy Judge. As noted the deadline for filing a proof of
claim must be received by the bankruptcy
clerk’s office from all creditors (except a governmental unit),
November 29,2004. For a governmental unit, 180 days from the
date of relief.
Leasing
News was not at the meeting, nor have we been able to obtain
any
direct reports at this press time, plus the trustee will file a report
from
this meeting, but from the court records as of August 27th,
there are 111 individual creditors who have filed to date with 422 motions
and 421 docket files. There
are 74 law firms who have filed, naming their representative.
Several
of the leasing companies named in the first class action suit by
Kantrowitz
Goldhamer & Graifman were not listed.
It may be that they do not believe they have any claims as creditor
or it may be they have not filed yet as they have 90 more days to do
so.
The
great majority of attorneys who have registered are from New Jersey,
then New York and Pennsylvania. Virginia attorney James Reynolds represents
Data Connection and Metaswitch, Minnesota attorney Joseph H. Anderson
represent Lyon Financial, Colorado
attorney James C. Underhill represents New Horizons Eclectic, California
attorney Linda Berberian represents PFF Bank & Trust, and
listed also are single attorney representatives from Florida and Texas,
for instance, but the main groups are from this region.
The
actual dollar amount will not be known until the trustee files a report
after all the creditor and governmental units file their claim. Whether they are justified claims or what the
deposition will be is one of the purpose of the hearings to follow.
The guess is a minimum of $30 million. Anything about it is surely conjecture, but
at one time,
it
could have been much higher.
NorVergence's
health insurance practices are being investigated by the U.S. Labor
Department, another probe by the New Jersey Department of Labor centers
on allegations of bounced paychecks made by former NorVergence employees,
and the Federal Trade Commission has reportedly launched an inquiry
into NorVergence’s leasing contract language.
According
to ELT News, Equipment Leasing Association President Michael Fleming
says the leasing contract language at issue in the FTC probe is valid,
as it has been tested and held up by courts for many years
He
also told staff writer Martha McKay
of the New Jersey Star Legend , " ‘I think it's no secret
to anybody [that the leasing companies] probably didn't know as much
as they should have known...A couple of [leasing] companies may even
be out of business over this,’ Fleming said, but he declined to name
them. But he defended the contract language, and said it has been tested
and has stood up in court cases for years.
"’
If I were a small-business person, I would say this was an expensive
lesson and I would pay it’."
According
to the various list serve and hosted sites Leasing News has observed,
readers have contacted various state attorney general offices, district
attorney offices, and state public utilities commissions.
It appears most are put off by the fact of the bankruptcy hearings,
awaiting results from it.
It
also appears from this listserve and hosted sites many lessees are making
settlements, working out the most beneficial payoff.
There were reportedly over 11,000 users who were cut off in July
at various times of the month and have moved on to other telephone carriers.
The
listserve that appears to be the largest is for ex-NorVergence employees.
While the class action suits will continue to be filed, it appears the
numbers they represent are in the low hundreds, combined.
Most are quite bitter, smaller companies, while the middle size
and larger companies have moved on. It also appears there may be as
many as fifty leasing entities who were involved in the financing and
an act of collusion gets further and further more difficult to substantiate.
It
also appears that leasing companies are just starting to call leases
in
“default,”
as evidenced by reaction on the various list serve communication. Most
leases are considered “serious delinquent” after 60 days, but not in
default until 90 to 120 days. This
does include what are known as “first payment” defaults or lessees who
inform their lessor they will not be making any more payments.
It
has not been 60 days since NorVergence closed their doors; however,
the change of telephone carrier and use of the Matrix box has occurred.
Whether there are more defaults or “settlements” to follow in the next
few months, is not known. Certainly there have been no mass numbers
of businesses joining the various class action suits under progress.
Perhaps
a major factor to what has not been happening is the lack of major news
media attention to the troubles caused by the filing of bankruptcy by
NorVergence. These are not consumers, but businesses who almost had
their telephone cut off from their use, and now pay a penalty for what
was once thought “long distance” cost savings. It is not making front
page headlines, let alone even being reported by many local metropolitan
newspapers.
The
first to file a class action suit is:
the
law firm of Kantrowitz Goldhamer & Graifman, which can be reached
at 210 Summit Avenue, Montvale, New Jersey 07645, 1-800-660-7843, Attention
Gary S. Graifman, or by email: ggraifman@kgglaw.com
and by the Law Offices of Michael Scott Green, 14 Easton Avenue, No.
340, New Brunswick, New Jersey 08901, Telephone 732-390-0480 or email:
msgreen@lawmsg.com or njclassaction.com.
Mr.
Green is co-counsel and has
informed Leasing News informed that an amended class action complaint
will name 26 leasing companies and Doe Corps. 1-40.
Mr.
Green states, "Former Norvergence customers may obtain more information
about the class action by going to www.njnorvergenceclassaction.com
and submitting a form. Letters are then sent by counsel to putative
class members
updating them on material developments in the class action."
MICHAEL
SCOTT GREEN, ESQ.
Law Offices of Michael
Scott Green
14 Easton Ave., #340
New Brunswick, New
Jersey 08901
Tel: (732)
390-0480
Fax: (732) 390-0481
Cell: (732) 690-2093
E-mail: msgreen@lawmsg.com
On the web@:
www.lawmsg.com
www.medmal-advisor.com
www.njclassaction.com
At
the last communication from the Telecom Agents Association,
fifty
had joined their legal co-op. Their focus appears to be
different
from the New Jersey based Weir group action in
that TAA is
referring people to is NOT going to be a class action, but they are
looking to file individual cases only but in large numbers.
The minimum cost to the TAA Legal Co-Op is $995 or the cost of the two
monthly lease payments to the lease, whichever was higher.
this. http://www.telecomagent.org
There
are still businesses joining these actions, but at this time,
the
numbers total around 100 out of 11,000 NorVergence users.
-------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------
CONFERENCE COUNT-DOWN----
NAELB Irvine, CA Regional Meeting September 10 Irvine, Ca
National Association of Equipment Leasing Brokers
EAEL Expo September 27 (no location stated on web site)
Eastern Association of Equipment Lessors
UAEL Monterey, CA October
21-24
United Association of Equipment Leasing
http://www.uael.org/events/conferences/ace/default.asp
ELA Palm Desert, CA October
24-26
The Equipment Leasing Association
www.elaonline.org/events/2004/annconv/convhome.cfm
AGLF Rancho Mirage, CA November 10-12
Association for Government Leasing and Finance
www.aglf.org/25AM04_fallpgm.pdf
MAEL Rosemont, Illinois November 18
Mid-American Association of Equipment Lessors
www.mael.org
To learn about these and other leasing associations, please
go to: http://www.leasingnews.org/associations.htm
If you are interested to learn more about the conference,
please
to the web site noted.
---------------------------------------------------------------------------------
Graneri Books on Sale
“The calculator books are in continuous use and I sold a multiple
order last week to a company that uses it as part of their training
program. The HP books are priced to include shipping and handling.”
Meliinda Graneri
HP-12C and 17B/19B Calculator Books, By
Bill Granieri
Either one of these books is a must for
the firing line salesperson. These books will take you from how to turn
on the calculators to the most complex and advanced structuring techniques
that will enable you to beat competitive proposals and bank and cash
financing.
Highlights
Basic calculator functions, solving for N, i, PV, PMT, and FV
Understanding Net Present Value and Internal Rate of Return
Building profit into transactions
Step and skip payment programs
Much more
HP-12C book $55
HP-18B/19B book $55
Both Books for $95
“Mike continued
to sell the tapes until his death and I believe the last set sold for
$190 which includes the postage and the workbook that goes with it.
The information on the tapes is timeless.”
Melinda Graneri
The Lease Master and
Skills Advancement,
by Bill Graneri
$190 includes work book, tapes, postage
and handling
http://www.leasingnews.org/items/The_lease_master.htm
Here is the old web site, back up during
this period for readers to learn more
http://members.aol.com./topgunclub
Make
checks payable to
Melinda Graneri
You make contact
her at:
or
Telephone # 732-828-5844
Address: 315 Brook Drive
Milltown, NJ 08850
Equipment Financing Group, Inc. Launches New Inside Sales
Office
Ken Wheeler has announced his company Equipment Financing
Group, Inc. will move away from its emphasis on leasing broker business,
although they continue in it, and will focus on a direct telemarketing
approach to potential leasing
He says this office will also service over 800 accounts for
which EFG currently provides support. The office will be run by former Vice President of Election Campaign Marketing
Morgan Bennett. Mr. Bennett started and operated more than 11 political
campaign call centers in the past 12 years in the Washington DC, and
Maryland area, Mr. Wheeler explained.
The goal is to have 29 representatives working in the call
office.
Mr. Wheeler said he has contracted with Dunn & Bradstreet.
The contract will consist of marketing materials and business reports
for the next 12 months.
The company operates additional offices in Los Angeles, Michigan,
and Pennsylvania. Mr. Wheeler said he started EFG in 1992 and it has
“...shown tremendous growth in the last 18 months. “
Those seeking employment or have questions regarding the
new program,
may contact the office
directly at 800-648-6950.
-------------------------------------------------------------------------------------
Jim Raeder to Reveal Culprit
In recent e-mail to various leasing industry leaders, newspapers,
and
other media, at first pretending to be an employee, and then
an “ex-employee,”
derogatory and malicious accusations have been made regarding
CapitalWerks.
After a thorough investigation, Mr. Raeder is about to announce
the name
of the culprit and major leasing company who he believes
helped coordinate
this name calling campaign.
--------------------------------------------------------------------------------------------
Classified Ads---Help Wanted
Credit-Funding-Operations
|
Credit Analyst: Seeking an energetic and organized Credit Analyst. At least one to two years of experience as a Credit Analyst in financial services (banking, insurance, leasing, or mortgage) is required. Funding Manager: Seeking a very organized, detail oriented Funding Manager. Minimum two years experience in brokering and discounting commercial equipment transactions is required. Operations Manager: Seeking an experienced Operations Manager with knowledge of all sides of operations. Must have a minimum of five years related experience. Send
email or fax to Ryan Johnson, Corporate Recruiter. |
|
|
CFO / Leasing Sales Leader
|
Controller / Vendor Sales Specialist/ Entry Level Accountant
|
Equipment Finance Sales Executive
|
|
News Briefs----
Greenspan cautions on baby boomer benefits
http://www.boston.com/business/articles/2004/08/27/
greenspan_warns_on_baby_boomer_benefits/
Kerry lead fades in two battleground states
http://www.usatoday.com/news/politicselections/nation/
president/2004-08-29-kerry-poll_x.htm
Olympians May Need Gold for Cell phone Bill
http://www.nytimes.com/2004/08/30/business/worldbusiness/
30wireless.html?pagewanted=all
NBC Universal's gamble on Olympics pays off big
http://www.usatoday.com/money/advertising/2004-08-29-nbc-oly_x.htm
Tropical storm slams into coastal S. Carolina
http://www.ajc.com/news/content/news/0804/29tropical.html?UrAuth=
%60NYNUO%60NTUbTTUWUXUUUZT[U^UWU^UVUZU]UbUcTYWYWZV
-------------------------------------------------------------------------------------------
Sports Briefs----
For Greece, the Games Leave Pride, Relief and a Huge Bill
http://www.nytimes.com/2004/08/30/sports/olympics/30olympics.html?hp
Giants name Warner starting QB for season opener
http://www.nytimes.com/2004/08/30/sports/football/30giants.html
Deion Sanders is making a return home — to the NFL.
http://msn.foxsports.com/story/2758976
Hecker group aims to buy Vikes
http://www.startribune.com/stories/503/4952552.html
San Jose State's no-win situation on Football
http://www.mercurynews.com/mld/mercurynews/news/local/9528104.htm
-------------------------------------------------------------------------------------------
California Nuts Briefs---
Dems hold governor in check
Schwarzenegger's next moves will set tone for future relations
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/08/29/MNLEGIS.DTL
Bill flurry to reveal governor's politics
http://www.mercurynews.com/mld/mercurynews/news/politics/9528096.htm
-------------------------------------------------------------------------------------------
“Gimme that Wine”
Personalize Wine Labels
http://www.wineetc.com/Intro.htm
Hot Summer Prompts Early Harvest in Pacific Northwest
http://www.winespectator.com/Wine/Daily/News/0,1145,2580,00.html
Fetzer launches new label