Battleship Galactica

 

When the series begins, we see the Cylons deploying a Trojan Horse strategy against the Colonies: Under the guise of peace, the Colonial military is ambushed and destroyed (with the Galactica able to survive by retreating) while the unprotected civilian populations are assaulted. With no hope of survival against overwhelming Cylon forces--and no true defensive capability remaining--a handful of surviving Colonials flee the Twelve Colonies in civilian starcraft. Under the command of Adama on the Galactica, they head into deep space, searching for the Thirteenth Tribe of Man who are "on a shining planet known as Earth."  

    http://timstvshowcase.com/bstar.html

   http://www.battlestargalactica.com/

 

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  Headlines---

        

Pictures from the Past---1992—-Goodman/Haas

 

 

 

Kenneth D. Goodman, CLP, executive vice-president, Triad Consultants Network, LDT, Los Angeles, CA.

 

 

Jon S.Haas, CLP, vice-president and sales for MetroLease, Inc., Rolling Meadows, Illinois, and president of Triad Consultants Network, Ltd.

 

 

           Classified Ads—Jobs Wanted

 

              Accounting: New York, NY.

Three(3)years experience in lease accounting. Managing three Partnerships' Funds, preparing external reports for SEC.,10Q &10K. Consolidation of subsidiaries financial position w/parent company. email:hope2live@aol.com

 

         Asset Management: Patchogue, NY

12+ yr. Experience in Auto/Equipment Leasing. Managed Liquidation of Repo & E.O.L. Portfolios. Managed Litigation Portfolio as well. Exp. in Bankruptcy. Looking for suitable position in Tri-State area. Email:THood8663@Yahoo.com

 

          Asset Management: Redmond, WA 10+ years experience with Small/Middle Market portfolio's. Managed all aspects of Asset Management including residual setting, inspections, repossessions, remarketing& eol negotiations. email:challenger.rt@verizon.net

 

           Asset Management: Jacksonville, FL. 15+ yrs of diversified exp. in Comm.Equip.Fin. Equip Generalist, ASA "Cradle-to-Grave," Sr. Management, creative negotiating, presentation and analytical skills. Open to domestic/global travel/relocation. email:AssetMgrASA@aol.com

 

          Communications: Oceanside, CA. Placed all-wiring-cabling &comp system in Polaris building. Exp. in cabling, webwork, photograph/ad work, server work for 'Racksavor" & top exp.in carpentry-plumbing, finishing work. email:jzapf@artisticimages.com

 

         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 listing of Jobs wanted at:

 

  http://www.leasingnews.org/archives/February%202003/02-05-03.html

 

  and other sites :

 

www.adams-inc.com
www.affinitysearch.com
www.bajobs.com
www.careerbank.com
www.careerpath.com
www.craigslist.org (available in many cities now, use scroll feature)
www.elaonline.com
www.employmax.com
www.goldenparachute.com
www.Headhunter.net
www.hotjobs.com
www.insidevcjobs.com Venture County, CA. Newspaper
www.jobs.net
www.latimes.com
www.leasingtoday.com
www.lessors.com
www.MarketingJobs.com
www.monitordaily.com
www.positionfiller.com
www.Postonce.com
www.RecruiterConnection.com
www.resumeblaster.com
www.vetjobs.com
www.worktree.com

 

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                             Canada Calling---

 

Just a quick note to indicate that you have some Canadian subscribers

also, and that the lease financing industry is alive and well in Canada.

 Our national association of lessors is the CFLA - Cdn Finance and

Lease Association. Many of your subscribers no doubt have Cdn operations

also . Our firm, Renowntech Financial Inc. is a lease brokerage in the

Toronto area.

 

Your newsletter is excellent.

 

We would be interested in hearing from anyone who can establish a

European funder source as we have some customers who have a need to

finance in Europe.

 

Again , a great publication.

 

STAN PROKOP

V.P. TREASURY/FUNDING

RENOWTECH FINANCIAL INC.

 

(I have been including more Canadian musicians and events in “Day in American Leasing History.”  Most of our news comes from our readers. We do print

news from Canada, and Great Britain, too, now, especially if it also pertains to the

United States. Editor)

 

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                  Looking for Ron Paterson--

 

  Name = Eric Mann

               Address = 725 Darlington Ave

                  City = Mahwah

                 State = NJ

               Zipcode = 07430

                 Phone = 201-574-4014

                   Fax = 201-574-4130

                 Email = mann_e@konica.com

                 Comments = I am trying to locate information concerning Ron Paterson, formerly of American Eagle Financial Group aka Eagle Leasing and  American Eagle.  I'm trying to sort out some issues for customers - their claims are rather unusual, but I seem to be hearing the same stories from folks who don't know each other.  I was advised to contact you by one of my contacts at C2 Capital.  Thanks.

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                        ADT Lease Contracts

 

“I am investigating a financing arrangement on behalf of a friend.  He

contracted with ADT to install an alarm system.  His initial contract

stated that payments were to be made to "Lease Acceptance Corporation,"

which appears to have had a pre-existing relationship with ADT.  I say

that because about eight months later, ADT insisted that he, his wife,

and dental practice formally execute a "lease" with LAC (whose name was

pre-printed on the form as the "Lessor"), personally guaranteeing

payments to LAC regardless whether the alarm system sold by ADT worked

(which it didn't).  I've checked your very helpful website, noting among

other things a report last June that LAC had "closed its doors" and laid

people off.  Are you aware of any relationship between ADT and LAC,

perhaps "insulated" from one another by a corporate firewall?  Any

investigations by state authorities?  Thanks in advance for any helpful

information.”

 

                                                           Sincerely,

                                                        

                                                          John Belferman

                                                                        jmbelf@starpower.net

 

At your request, will ask readers if they have anything they may

be able to add about ADT

 

Most likely the lease was sold in a portfolio.  It was common for LCA

 to "bundle" up many leases in $100,000, $500,000 portfolio and "sell"

them off.  It is done in the mortgage and finance industry.

 

"Sell" is jargon in the trade. the lease contract is property and worth the amount of payments that are called upon, plus residual, if any. This value is then "discounted" to a lender and the seller is paid

the discount of the value of the contract.  They "present value"

the "implied interest."

 

 It is not uncommon for such transactions to occur more than once as rates

 drop and "sellers" can get better returns.

 

Here is a very simplified example, if the contract is worth $1800, the buyer may purchase it for $1600, making $200 on the transaction and the seller making $1600 today, rather than wait for their money over the term of the contract.

 

 

 They call it a "private label program" because the "go between"

 or "seller of the equipment" put their name on the contract and

 when the transaction is complete, they "discount" the contract

 to the funder, who may then re-assign the lease, especially if

 they get a history of six months or more of lease payments

 paid on time.

 

 Most of the contracts have an "acceptance form," and most also

 do a verbal authorization with the lessee, as one of the most

 common problems is sellers pushing for payment before the work

 is not complete.

 

 Depending on the state, it may be too prohibitive to fight the

 matter, which the law enforcement agencies look as a "civil"

 matter versus a "criminal manner." Editor

 

 

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                 Fitch: ABS Market Faces Challenges

 

 

NEW YORK---The ABS market is fighting battles on four major fronts: collateral quality, issuer condition, regulatory environment, and the economic landscape, according to Fitch Ratings in the latest edition of 'The Fitch Ratings ABS Exchange'. Along with these concerns are the potential impact of the war with Iraq, the threat of a double-dip recession and the destructive forces of fraud.

 

While the ABS market has proved its resiliency repeatedly over the past 15 years, it is difficult to imagine a more concerning confluence of events than those facing the market today,' said Kevin Duignan, Managing Director, Fitch Ratings. Despite these concerns, 'Fitch believes that since ABS transactions offer a set of protections unavailable in other instruments, they will continue to attract interest as safe havens from these same forces.'

 

While collateral quality has deteriorated in virtually all sectors, there are a few places where Fitch is particularly concerned: increasing default rates for nonprime and subprime borrowers, declining used car prices, and deterioration in aircraft values.

 

The combined forces of collateral deterioration, economic malaise, and regulatory pressure have led to a level of tiering never before seen in the ABS markets. The credit deterioration of issuers like Metris on the credit card front and Americredit in the subprime auto sector are representative of this phenomenon.

 

Also appearing in this edition of 'The Fitch Ratings ABS Exchange' is an article on FASB Interpretation No. 46, an update on credit card ABS, and outlooks on the auto and equipment leasing markets.

 

The Fitch Ratings ABS Exchange' is available on Fitch's web site at 'www.fitchratings.com' or by contacting the Ratings Desk at 1-800-893-4824.

 

CONTACT:

 

Fitch Ratings, New York

 

Kevin Duignan, 212/908-0630 

 

Deborah R. Seife, 212/908-0604

 

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Financial Federal Corporation Announces Michael C. Palitz Has Resigned as Executive Vice President and Treasurer

 

 

NEW YORK----Financial Federal Corporation ("FIF" - NYSE), announced today that Michael C. Palitz has resigned from his position as Executive Vice President and Treasurer effective March 14, 2003 to pursue interests outside the industry. Mr. Palitz will remain a member of the Board of Directors.

 

In 1989, Mr. Palitz, together with Paul R. Sinsheimer, Bernard G. Palitz, Clarence Y. Palitz, Jr. and William M. Gallagher, founded Financial Federal Corporation. He served as the Company's Chief Financial Officer from 1989 through September 2000. During his tenure as Chief Financial Officer, Mr. Palitz had a significant role in establishing and maintaining many of the Company's relationships within the banking and investment communities.

 

Paul R. Sinsheimer, Chairman of the Board of Directors and Chief Executive Officer, commented: "On behalf of the Company and myself, I would like to thank Michael for his many years of service and look forward to his continued contributions as a member of the Board of Directors. We wish him well in his future endeavors."

 

Financial Federal Corporation specializes in financing industrial and commercial equipment through installment sales and leasing programs for manufacturers, dealers and end users nationwide. For additional information, please visit the Company's website at www.financialfederal.com.

 

 

CONTACT:

 

Financial Federal Corporation

 

Steven F. Groth, 212/599-8000

 

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                   Quigley New “Ops” at Bluedot Funding

 

Irvine, CA—-Brad Quigley has been promoted to Director of Operations at Bluedot Funding, a National Lessor located in Irvine, CA.

 

Prior to Bluedot, Mr. James was a President / CEO for Corona Financial and has over 20 years of financing experience.

 

Bluedot Funding, LLC is located in the Irvine Spectrum and specializes in working with vendors and distributors of medical, printing, computer, telephone and photo equipment.

 

Marcus Davin / 800-850-3101 ext 223

Vice President, Bluedot Funding, LLC

marcus@bluedotfunding.com

 

http://www.bluedotfunding.com/Bluedot_Funding_-_Vendor_Progr/Bluedot_Funding_-_Sales_Rep_Be/bluedot_funding_-_sales_rep_be.html

 

http://www.bluedotfunding.com/Bluedot_Funding_-_Vendor_Progr/bluedot_funding_-_vendor_progr.html

 

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Bush Budget Proposal Aims to Spur Community Savings Initiatives

 

 U.S. BANKER WEEKLY BULLETIN

 

The Bush Administration's 2004 budget proposal stipulates less restrictions on savings products and services at banks in the hopes that encouraging consumers to save will help boost the nation's ailing economy.

 

Ideally, the move would increase the amount of funds community

banks have to lend to small businesses. The Independent Community Bankers Association (ICBA) supports the proposal and says the nation's current savings plans are restrictive and fragmented, preventing Americans from having simple, flexible accounts to meet their savings needs. The ICBA is also pushing the concept of a universal savings account - an option that it says will allow more individuals to save up to $15,000 after-tax in multiple products that can be offered by community banks.

 

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                        Patrick Henry Quotation---

 

 

Thanks for the daily update on my industry.  It is like the morning paper, I

look forward to it.

 

I was glad to see the Patrick Henry quotation.  Another quotation that you

might investigate, that pertains to our times, is Lincoln's Gettysburg

Address.  I seem to recall (We had to memorize that in the 5th Grade in MN.)

somewhere in that speech Lincoln's insistence that we not forget those that

died at Gettysburg (or 9/11) and we carry own the noble cause of freedom.

 

Food for thought.

 

Ross

 

ROSS L GUILFORD ross.guilford@gte.net

 

An excellent thought. Here is the Gettysburg address, a site of serveral

“drafts” and the only picture taken of President Lincoln at Gettysburg,Pennsylvania.

 

 

                       Misses Sunday Sermon

 

I'd like to let you know that I still appreciate your wisdom, your point is

resounding, and that I still miss the Sunday Sermon.

 

  Bruce E. McCormick

bem@mccormick-associates.com

 

(Thank you. The Leasing News Advisory Board thought it was “too controversial.”  It seems we have more than “one God.”  The “Patrick

Henry” quote yesterday lost us seven readers who didn’t like it.  Perhaps

that is why the other “on line” leasing newsletters have stayed clear of

the Columbia shuttle, the pending war in Iraq, or wine or buying automobiles on line, cartoons, and primarily printing “press releases.” It doesn’t get

their readers angry.

 

Perhaps I am a little crazy, as I get if from my mother’s

Irish side of the family, as no one else would make an allegory of

Lorne Greene of “Battleship Galactica” and Secretary of State Colin Powell

at the United Nations.

 

 I personally appreciate your kind words of encouragement.

Editor )

 

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              Valentine's Day Wines for Every Type of Love Affair

 

COLUMBIA, MD 

 

Head over heels in love? Starting an exciting new relationship? Valentine's Day is right around the corner, and for those of you who still haven't a clue as to what to get your special someone -- more than likely it's the men we are talking about -- there's a solution. Classy, simple and as close as your nearest liquor store, a romantic bottle of wine makes a Valentine's Day gift you both can enjoy.

 

For those involved in a committed love affair, plan a romantic dinner that includes candlelight, soft music and the seductive taste of Bunratty Meade ($13.99 for a 750-mL bottle). Known as the Irish aphrodisiac, Meade is the original wine of passion. Attributed with legendary powers of virility and fertility, Bunratty Meade is a delicate yet potent drink made from a traditional fermented honey recipe and a white wine. Enjoyed throughout Irish history to promote the well being of newlyweds, Irish folklore claims that brides and grooms consumed Meade for one full moon after their wedding, hence the name "honeymoon."

 

The beginning stages of a relationship can often be awkward, especially on Valentine's Day. For those in a new romance, keep it simple with a bottle of red -- literally. As an intimate gift or paired with a meal, Luna di Luna's Merlot/Cabernet ($9.99 for a 750-mL bottle) is a perfect choice. Packaged in a romantic red bottle, the blend combines the smoothness of Merlot with the boldness of Cabernet for an exceptionally crafted wine at a value price.

 

Bunratty Meade and Luna di Luna wines are imported by A.V. Imports Inc., a Columbia, Maryland-based national wine and spirit importer. The company imports wines and spirits from Australia, Chile, France, Germany, Hungary, Ireland, Italy, Mexico, Russia and Spain and sells them to licensed wholesalers throughout North America. For more information, please contact Bryce Smith at (813) 286-7799, bsmith@hlamarketing.com or visit www.avimports.com.