Leasing News

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Classified Ads--- Contract Administrator

Name = Shirley M. Grigsby

Address = 2138-1/4 Third Avenue

City = Los Angeles

State = CA

Zipcode = 90018

Phone = 323-734-0754

Fax =

Email = sgrigs@netzero.net

Comments or Questions= My Company recently closed and I am

actively seeking employment in the leasing industry. I am currently utilizing the job search service that the Leasing News offers and would like to continue receiving your newsletter.

Thank you for the informative data that you continue to provide to the

commercial equipment leasing community. Here's wishing you continued

success and good luck.

(Thank you. We wish you success and good luck, too. )

Here is her ad:

Contract Administrator: Los Angeles, CA Documentation Manager; 25+ years experience; strong documentation skills; solid reputation for submitting complete funding packages consistently resulting in same day fundings; will consider reasonable commute.

Email: sgrigs@netzero.net

Here are other Contract Administrator ads---

Contract Administrator: Chicago/Naperville

18+ years experience in leasing US/Europe, as both lessee and lessor. Am versatile and adaptable to lessee, lessor, or lender career opportunity. Email:kris_k11@yahoo.com

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

Contract Administrator: Portland, OR.

6+ years small ticket leasing/financing. Documentation/funding

Policy development &implementation, management &training, process mapping, customer service, broker, vendor, portfolio experience.

Email: susanc777@hotmail.com

Contract Administrator: San Diego, CA.

16 years experience with Capital Equipment and Semiconductor Manufacturing equipment leasing for Asia/Europe/US. Strong communication, documentation, management, negotiation, and training skills.

Email: pcgaynor@adelphia.net

Contract Administrator: Schaumburg, IL

10 yrs. small/mid-ticket leasing. Proficient in documentation, funding and legal. Worked with brokers, portfolio purchases, vendor programs, municipal transactions. Prefer to stay in Suburban Illinois. Email:sophie1900@msn.com

Full List located here: http://64.125.68.90/LeasingNews/JobPostings.htm

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Pictures from the Past---1994-Barry A. Dubin, Esq.

http://two.leasingnews.org/photos/Dubin,Barry.jpg

This is a picture from the Western Association of Equipment Lessor’s Newsline

that featured pictures of the 1994 Board of Directors. Here is a current curriculum vitae:

Barry A. Dubin, a partner of Cooper, White & Cooper LLP, focuses his practice in the commercial finance services industry, specializing in equipment leasing and asset-based lending. He has negotiated and drafted a variety of leveraged and single investor leases covering a wide range of equipment. Mr. Dubin also prepares standard equipment lease documents for clients engaged in the

small ticket and middle market leasing of equipment. In addition to his work in the equipment leasing field, Mr. Dubin has extensive experience in other

areas of asset-based lending, and he has negotiated and documented a wide variety of commercial loan transactions and portfolio acquisitions.

His practice also includes substantial creditor representation in bankruptcy proceedings as well as commercial litigation involving the enforcement of creditors' rights and remedies and lender liability defense.

Mr. Dubin frequently lectures at equipment leasing seminars, and he is the author of several articles, including "Judicial Approval of the Sale of Personal Property," The Secured Lender (May/June 1989), and "A Lessor's Duty to Repair Collateral Prior to Sale," WAEL Newsline (February 1990). He is a contributing author to The Executive's Guide to Lease Documentation and Executive's Guide to Remedies published by the Equipment Leasing Association of America, and has written the chapter entitled "Default, Remedies and Litigation” for the three-volume treatise Equipment Leasing published by Matthew Bender.

Mr. Dubin is a member of the San Francisco Bar Association, the Equipment Leasing Association of America (ELA), and the United Association of Equipment Leasing (formerly WAEL, a national equipment leasing association). He has served as chairman of the WAEL legal committee, as a member of the

WAEL board of directors, and as a member of the ELA legal committee.

Mr. Dubin is a 1968 graduate of Yale University and a 1973 graduate of Columbia University School of Law, where he was a Harlan Fiske Stone Scholar.

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______________________________________________________________

Rodney Dixon Hearing Postponed

Jay Chanen Stuart of the United States Attorney's Office, Chicago, Illinois

has filed four charges against Rodney Dixon, the chief executive of

Lacrad International Corp. involving fraud by wire, radio, or television

and violation of interstate commerce. The hearing to be held on December 1 was

postponed until December 11,2003.

This case will most likely supercede the suit by six equipment leasing companies who are suing Rodney Dixon as the chief executive of Lacrad International Corp., a company that sold religious sermons on compact discs, alleging that he purposefully lied about his financial assets. (Leasing News has not been able to find a copy of the actual suit which would name the six leasing companies, although they are referred to in other filings.)

This suit claims he entered into a money laundering charge and the charge that he inflated Lacrad's net worth in order to obtain a $2.25 million bank loan to purchase a corporate jet. The six equipment leasing companies that have sued Dixon say they lost over $11.4 million because of the scheme, in which Dixon allegedly claimed that Lacrad's annual revenue exceeded $100 million in the late 1990s although sales at the company were never higher than $100,000.

June 22, 2001, it appears Winthrop Resources filed against Rodney T.E. Dixon et. all for $9,999,999 plus expenses. Mentioned in the case were Wells Fargo Equipment Finance Corp., European American Bank, American Equipment Leasing, Balboa Capital Corporation, CIT Group Equipment, and Regions Bank for information. A receiver was appointed and assets to be discovered and to go to the favor of the Winthrop Resources.

The U.S. Attorney General's case has been assigned to Hon. Geraldine Soat Brown.

The docket states:

For the reasons stated on the record, the Court revokes the order of release and sets this matter

for detention hearing on 12/1/03 at 1:30p.m. The defendant

shall be taken into custody for appearance before Judge

Gettleman 11/26/03 at 9:30a.m. in connection with 01 C

4296, and shall remain in custody until the hearing date

before this Court. Mailed notice (emd) [Entry date 11/26/03]

11/26/03 10 NOTICE regarding passport by USA as to Rodney Dixon (ip)

[Entry date 12/01/03]

12/1/03 11 MINUTE ORDER of 12/1/03 by Hon. Geraldine Soat Brown as to

Rodney Dixon : Detention hearing held and continued to

12/11/03 at 2:30 p.m. Mailed notice (ip)

[Entry date 12/01/03]

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Silicon Valley Bank's Art Hiemstra joins VenCore

VenCore Solutions LLC, a Portland-based equipment leasing company specializing in serving emerging growth companies, has hired Northwest banking executive Art Hiemstra to fill a top post. Vencore is a leader in the smaller market of venture leasing on the West Coast.

VenCore said Hiemstra will serve as executive vice president, and will help guide the company's national expansion.

The company also hired Tim O'Loughlin, formerly senior vice president with Silicon Valley Bank. O'Loughlin will lead VenCore's recently established Boston office, which serves New England.

VenCore now has satellite offices in Seattle, San Francisco, Denver, Chicago, Boston and Southern California. Recently John Pritchard

(john@vencore-solutions.com) appeared at a UAEL Regional Meeting

Conference. Pritchard said his company starts at $50,000, buy rate 11% to 14%

and often tops out at $250,000, rarely goes higher, but has, and pays brokers two points referral fee.

[Headlines]

Letters—We get eMail

The cartoon is all wrong--Fred Van Etten never owned a pair of cowboy

boots in his life. I doubt if he has ever even owned a pair of socks. It

is loafers, no socks and a big smile for Freddie aka The Texas Teddy

Bear.

Charlie

Charlie Lester

clester@lpifinancial.com

http://www.leasingnews.org/archives/November%202003/11-25-03.htm#cartoon

Love your communication. Even on a "No Regular Edition Today" issue, it is

insightful and rewarding. It is too bad that it is not available to the

general public.

Keep it up!

Dave Brownlee

Batarista@laughlin.net

(To a degree it is available to the public, as it is printed on our website

www.leasingnews.org . I think the only time the "general public" finds us is when they have a "lease complaint," as we come up in the top on all the browsers when someone is looking for a place to place a complaint regarding equipment leasing.

( Thank you for the compliment. editor)

Kelly Long

I moved to Sioux Falls where I lead Sales and Marketing efforts for two non-banking divisions of a Regional Bank. The first division is a Payroll/Benefits service, specializing in small/middle size firms. The Second division is a Leasing Company, primarily focusing on Industry Programs in the Midwest. I am working with the Sioux Falls Chamber of Commerce and recently asked to be on the Advisory Board of the South Dakota Technology Business Center.

Kelly Long

HF Financial Group, Inc.

225 S Main Ave / PO Box 5000

Sioux Falls, SD 57117-5000

605-373-1372 or 800-244-2149

Cell: 605-261-0656

klong@hffgroup.com

Marlin IPO –Bob Rodi, CLP

While I do not purport to be a stock market analyst I did the simple math on the Marlin IPO. By my calculations, out of approximately $61MM that they expect to raise, roughly $18MM goes to the "selling shareholders", $4.8MM goes to fees which I assume encompasses the attorney, accountants and underwriter, and $38MM finally makes it to the company providing for a grand total of about $60MM in proceeds from the IPO.

Now, if I am an investor, do I ask myself, "Why would I want to invest in a company where the "selling shareholders" are going to engineer a major liquidity event with absolutely no intention of putting dime one back into the company? What kind of signal does that send to the market? Isn't it customary for the initial shareholders to let the public get some of their money before they make a grab and run? I recall that when our former partner, Rich Masterson, took his company public, he, nor any of the founding shareholders were allowed to sell any stock for 6 months.

Also, if I am one of the "lucky" investors that pays $14 per share, but only about 60% of my money is actually "invested" in the company, how profitable does Marlin have to be before they achieve a valuation that makes up for the 40% that the selling shareholders, accountants and lawyers are whacking up. Again, by my calculations, it looks like that stock would have to reach a valuation of $22 per share to make up for the 40% that the selling shareholders, underwriters and attorneys will be whacking up.

I guess the hope is that you get in at $14, get a quick run up and then sell and take the profit. Somehow, based on recent history in the equipment finance industry, I would bet against that. It also sounds suspiciously like the old Industrial Leasing IPO. Anyone remember that? They hurried up the IPO because there were some questions about whether or not they could keep the ship afloat. I am anxious to see if investors are going to leap at this "opportunity" or if they come to the same conclusion I did--if the selling shareholders don't have the confidence to re-invest, why the heck would I?

Bob Rodi, CLP

President

LeaseNOW, Inc.

drlease@leasenow.com

www.leasenow.com

1-800-321-LEASE (5327) x101

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Equipment Leasing Help Wanted Ads

Accounting Mgr/Bookkeeper: Will implement and monitor stringent financial policies, procedures and internal controls. Must have full understanding of the leasing operation to include income recognition, amortization, forecasting and budgeting. Exp with Lease Plus preferred. Have at least 5 years exp. in the small ticket leasing industry. BA in Accounting preferred. email: careers@fivepointcapital.com
REF: LNORG

About the company: Five Point Capital, Inc. is a rapidly growing San Diego based national equipment finance company. We are continually looking to add talented people to our growing force who have the same ambitions and drive to make Five Point Capital #1 in our industry. www.fivepointcapital.com

Is seeking Account Executives ready to roll up their sleeves in establishing strategic financing alliances with select vendors and manufacturers in healthcare, industrial and technology market place segments. Proven track record of success in equipment financing a must. Specific industry and collateral experience is a plus. Hiring now in major markets throughout the country. Email your resume to eokeeffe@ifccredit.com

About the Company: IFC Credit Corporation is a fast growing, national equipment finance company providing a broad range of financing solutions to small business and middle-market clients. IFC offers equipment financing and leasing, customer finance programs for equipment vendors, and venture leasing services to emerging growth companies. The company is headquartered in the Chicago suburb of Morton Grove, Illinois.

Stable funding source seeks experienced leasing representative; book of business required; remote office capability; send resume to jobs@balboacapital.com and reference leasingnews in subject line.

Senior Credit Analyst: Will be responsible for credit investigation, analysis and have the ability to assess the creditworthiness of our clients. Must have superb quantitative analytical skills and 2 yrs. exp in the small ticket leasing industry.
email: careers@fivepointcapital.com
REF: LNORG

Senior Funding/Doc Specialist: Will produce accurate documentation and provide support as the contact between our sales force, vendors and banks. Ensure doc requests are completed in an accurate and timely manner. Must be detail oriented and have at least 2 yrs exp, small ticket leasing industry preferred.
email: careers@fivepointcapital.com
REF:LNORG

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### Press Release ####################################

Free Attendee Registration –Lessors Network

Lease Funding & Distribution Showcase To

Provide Free Attendee Registration To Borrowers & Lessees

(Lessors Network) Atlanta, GA - The Lessors Network

announced today it will provide free Lease Funding & Distribution

Showcase Attendee Registration to select borrowers and lessees from the

primary markets.

Last year, the Lessors Network launched an innovative low-tech showcase

format where industry representatives alternated delivering five-minute

oral (no PowerPoint) presentations introducing their companies and

investment strategies. The results were overwhelming with more than $10

billion in buy/sell opportunities represented by 64 pre-screened funding

sources.

This year the Lessors Network will expand the showcase to the primary

markets, providing free attendee registration to targeted borrower and

lessee members of select industry associations. Initial association

targets include the National Business Aircraft Association, American

Trucking Associations, North American Equipment Dealers Association,

Association of American Railroads, Government Finance Officers

Association and the National Association of Counties, whose membership

clearly benefit the funding services presented at this showcase.

As John Semon, CEO, explains, "When a room full of funding source

professionals gathers to talk about secondary market buy/sell investment

strategies and you introduce borrowers and lessees from the primary

markets, something good is bound to happen !"

Additional information about the Funding & Distribution Showcase is

available from the Lessors Network web site at www.lessors.com.

About The Lessors Network

The Lessors Network is a global sales & marketing network for the

equipment leasing industry, facilitating new business development

opportunities within the corporate and municipal markets. Additional

information can be viewed from their web site at www.lessors.com.

[Headlines]

### Press Release ##################################

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Comments Still Being Accepted for "Leasing Company Name With Held"

As stated yesterday, we seek comments on this complaint:

Due to the nature of the controversy of this complaint, it is being printed

without names. Several of the Leasing News Advisory Board members do not

want it printed with names as "Mr. Leasing Company Name With Held" is their friend, several believe it should be printed with names as it is a "legitimate complaint," some don't want to get involved "at all, and others say it is the "editor's job" to make these decisions.

"Mr. Leasing Company Name With Held" believes "Leasing News" is trying to "smear" him and appears to have started such a campaign against us in his circles.

As editor, it appears to be a question of "ethics; despite the popularity

of the person, it is a legitimate complaint for the Leasing News Bulletin Board.

Please read it and let me know your opinion by e-mail (I will not use

any that makes this a "popularity" contest, as the issue is "ethics," not

whether "Mr. Leasing Company Name With Held" is a nice guy.

-----

The Applicant signed two separate lease contract with " Leasing Company Name With Held" on April 23,2003, including acceptance of equipment, along with a check for "first months rent" and "security deposit" for $5,949.72 with two separate checks, one for $3,683.16 and the other, $,2266.56.

**** (The Adobe Acrobat copy of both leases would normally be here, but

it has the parties names on it, plus the signature of the applicant, including

the delivery and acceptance form.)

Mr. Applicant states he sent his application and financial statements in early April for $94,500 in CD replication equipment less the $40,000 he had given the vendor as a "down" with the remainder to be "financed." It also was submitted as "corporate only" (no personal guarantee) as he had put $40,000 down, $20,000 on each machine, as understood by both parties.

According to Mr. Applicant, the lease was approved, he was told, so he

signed the two leasing contracts and sent in the two checks. He waited

until funding and then was finally told by " Mr. Name With Held" that he had made "misleading statements" and therefore " Leasing Company Name With Held" would not proceed with funding nor return the "first months rent" and "security deposit" on either of the two leases.

There was no bilateral agreement on terms and conditions for "Leasing Company Name With Held" to retain the monies if the lease did not fund, according to both parties. In addition, Mr. Applicant specifically points out the leases were not "funded" and the vendor was not paid: the lease did not commence. He also

said he never received a call for a verbal acceptance nor was any insurance certificate issued . Mr. Applicant states he has not received a signed copy of the two lease contracts to date from "Leasing Company Name With Held ", and his main point: the two leases never commenced, and therefore the terms

do not apply ( in addition, there is no provision regarding the disposition

of the money if the lease does not commence.) "Mr. Applicant" categorically

denies that he made any intentional misrepresentations and was "up-front"

on all aspects of the application.

The probable funder involved (as it appears to be their contract via the insurance provision where liability names the funder with his address) would make no comment as to whether the leases were approved, documents and money received or returned, or whether there was any provision for the lessor to keep any funds, whether the leases were funded or were not funded.

There is a law in the State of New York concerning "security deposits" and

advance rentals, requiring that they be held in escrow and returned if

the transaction does not move ahead. Here is one reference to it:

State of New York Security Deposit Law Section 7-101 Money deposited or advanced for use of personal property. Leasing News is not giving any

legal advice or interpretation, but bringing the fact of the law existing

in New York State. There were several opinions regarding this law

and it does appear a common practice to "co-mingle" security deposits

into a general account by many leasing entities, although the disbursement requires both parties and the law requires a separate account.

" Mr. Name With Held" claims to have many hours into the transaction, and due to this fact, and the alleged misleading statements, he states he is entitled to

keep the money.

Mr. Applicant is willing to negotiate a settlement due to the actual time " Mr. Name With Held" spent on the transaction. He is also willing to accept terms of repayment, if it is a "cash flow" situation. Neither offer was acceptable by" Leasing Company Name With Held."

In the meantime, Mr. Applicant has spoken with "customer service" of the probable funder, and says that he will file a complaint with the leasing

associations that are advertised of "Leasing Company Name With Held"

website.

" Mr. Name With Held" submitted a statement, but due to derogatory and libelous comments, in this editor's opinion, the remarks were removed (as per our written policy .*) " Mr. Name With Held" then asked us not to print anything that he has sent.

"Please do not publish anything over my signature if you are going to edit it

in any fashion."

Very truly yours,

Mr. Name With Held

* Our policy appears in our daily publication and on the web site:

http://www.leasingnews.org/policy.htm

Either hit "reply" if you are reading this in the e-mail version,

or send to kitmenkin@leasingnews.org for comments regarding this

bulletin board complaint.

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**** announcement ***********************************

“Don’t Call Me”—Ban Home Telemarketers

Go here to sign up now to prevent home telemarketing calls:

www.dontcall.gov

You will receive an email from Register@donotcall.gov.
To complete your registration, you must open the email and click on the link provided.

Important: If you do not click on the link in the email within 72 hours, your phone number will not be registered

Most telemarketers* should not call your number once it has been on the registry for three months. If they do, you can file a complaint at this Website. You can register your home or mobile phone for free. Your registration will be effective for five years.

The web site recommends not calling them, but using the forms on line, also

to make complaints. If any difficulties, their telephone number is 1-88-383-1222.

*Political solicitations and genuine surveys are not prohibited. To see more

information on the program, please go here:

https://www.donotcall.gov/FAQ/FAQConsumers.aspx#Exceptions

*** announcement *************************************

[Headlines]

#### press release ############################

KEY EQUIPMENT FINANCE SELECTED AS A FINANCING PARTNER

BY FUJITSU COMPUTER SYSTEMS

SUPERIOR, Colo.,   Key Equipment Finance, one of the

nation¹s largest bank-affiliated equipment leasing companies and an

affiliate of KeyCorp (NYSE: KEY) today announced that it has been selected

by Fujitsu Computer Systems Corporation as a financing partner. Fujitsu

Computer Systems offers a complete line of high-performance mobile and

desktop computers, scalable and reliable servers as well as managed and

professional services for the business enterprise.

"We believe that flexible leasing options are an important component to

delivering a total IT solution," said Farhat Ali, chief operating officer

and chief financial officer for Fujitsu Computer Systems. "Key Equipment

Finance has a solid history with expertise in providing technology financing

solutions. This agreement will give us greater flexibility in meeting our

customers¹ overall financing needs."

The relationship with Key Equipment Finance enhances the equipment financing

options Fujitsu Computer Systems currently offers for customers in the

United States and Canada. With support from partners such as Key Equipment

Finance, Fujitsu customers can bundle hardware, software, professional

services, support and maintenance into one financing instrument.

"By providing lease options directly to customers, Fujitsu Computer Systems

Corporation is demonstrating its commitment to being a complete solution

provider," said Karen Larson, president and chief operating officer of Key

Equipment Finance¹s global vendor services unit. "We anticipate that

supporting a comprehensive lease program will play an important role for

Fujitsu in North America."

About Fujitsu Computer Systems

Headquartered in Sunnyvale, Calif., Fujitsu Computer Systems is a wholly

owned subsidiary of Fujitsu Limited (TSE:6702) committed to the design,

development and manufacture of advanced computer systems and managed

services for the business enterprise. The company offers a complete line of

high-performance mobile and desktop computers, scalable and reliable servers

as well as managed and professional services. Fujitsu Computer Systems

emphasizes leading-edge technology, exceptional product quality and user