 |
 |
 |
 |
 |
 |
 |
 |
|
|
Headlines---
Classified
Ads—Senior Management
---
Giffin Back at Balboa Capital
Congress
Paints Leasing for the Rich
eBay
Leases via Direct Capital
Offshore
jobs move down the food chain
General
Electric Names Three New Officers
Wells
Equip. Finance at Lessors Network Conf.
R.
David Hoover to Irwin Fin. Board
Randy
Freeman New VP at Irwin Finance
Phil
Green/ De Lage Landen SE Asia
Grand
Rapids Press---Neal W. Ranstead obituary
######## surrounding
the article denotes it is a “press release”
|
About the Company: A successful, well-respected broker, well-established family owned broker with outstanding funding capabilities. Located in Scottsdale, AZ. www.mediacap.com |
-----------------------------------------------------------------------------
Classified
Ads—Senior Management
“Please
remove my classified ad from the senior management positions wanted
classifieds in your news letter.
“As
a direct result industry of networking and the ad, I am now happily
engaged in the small ticket leasing industry again.
Thank
you for providing this service to those who are in career transition.”
Senior
Management: Tampa FL.20+ years of small to middle ticket finance, operations
and sales management experience. Outstanding record of revenue enhancement,
operational improvement and team development. Email: rlindcpa@earthlink.net
Sincerely,
Reg
Lindholm
VP & General Manager
Ervin Leasing - Suncoast Division
16313 North Dale Mabry, Suite 102
Tampa, Florida 33618
Voice: (813) 968-6177 ext.114
Fax: (813) 960-5000
Email: rlindholm@ervinleasing.com
Here is the revised list:
Senior
Management: Baltimore, MD
25
year veteran of commercial and equipment leasing seeking a senior management
position with leasing or asset based financing company in the southeast
(Florida preferred)
Email:
kellogg_md@yahoo.com
Senior
Management: Chicago, Illinois
Twenty
plus years. Senior sales and marketing management most recently Building
"businesses" from scratch. Leveraging leadership, administrative,
operations, financial, auditing background. WANTED: challenging new
opportunity. Email: edok@sbcglobal.net
Senior
Management: Denver, CO. Fortune 500 GM/SVP wants to team up with aggressive
lender looking for Western expansion mid-market equip. finance/leasing.
20+ years experience within Rocky Mountain/ Southwest and Ca markets.
Email:
legal@csotn.com
Senior
management: Hope, NJ.
25
years in optimizing call center operations, collections, billing, and
back end revenue generation. Experienced in $7 + billion dollar portfolios.
Verifiable achievements.
E-mail:
cmate@nac.net
Senior
Management: Irvine, CA.
Credit
executive, portfolio manager and syndication facilitator. Extensive
business building experience in small and mid-ticket operations. Highly
innovative. Fortune 100 audit and technology skills. Bottom-line manager.
Email: lenhubbard@bigfoot.com
Senior
Management: Long Island, NY
Degree
Banking/Finance. 13 years leasing exp. Now prez young leasing company
where promises were not met. Interested in joining established firm
with future. Email:bob33483@yahoo.com
Senior
Management: Portfolio Management Consultant; 25+years experience in
Collections, Customer Satisfaction, Asset Management, Recoveries, Continuous
Process Improvement, Back end Revenue Generation, Cost per Collection
Analysis. $5+Billion Portfolio expertise. Email: efgefg@rogers.com
Senior
Management: San Francisco, CA., 25 years experience w/global leasing
company, sales,marketing,business dev., P&L responsibility, asset
mgmt, brokering and re- marketing. Interested in joining an est. firm
with a future. Email:rcsteyer@yahoo.com
Senior
Management: Somerville, NJ.
28
year veteran in Construction Equipment/ Transportation.
Full
P&L responsibility, profit driven, team builder, sales manager,
strong portfolio management skills. Will consider relocation. email:
leasingman_95@hotmail.com
full list of all classified ads at:
http://64.125.68.90/LeasingNews/JobPostings.htm
-------------------------------------------------------------------------------
Surprise!
Surprise! Surprise!
----Giffin Back at Balboa Capital
http://www.utdallas.edu/police/wavs/nobadges.wav
It
was a real big surprise to President Patrick Byrne, co-founder of Balboa
Capital, one of the largest privately held lessors in the world, when Shawn Giffin showed up at work yesterday morning.
It
came in the form of an e-mail memo that was also sent to all the department
managers:
“Good
morning!
”I am pleased to announce my return to Balboa Capital
full time and permanently as of today (2/23).
Although I enjoyed my leave and the opportunities it
presented me, I am fired up to come back and work with
each of you to accomplish your goals and those of the
organization.
”Your chosen theme for the year of ‘Old School’
represents perfectly my mindset upon return. In
getting back to basics, we recognize that our people
are our greatest competitive advantage. I look
forward to working constructively with each of you to
make certain that philosophy is well integrated into
our strategic decisions.
”I appreciate each and every one of you - for your
devotion to this company, your professional skills,
your integrity, and your really cool hair. Your work
ethic and commitment to excellence are the qualities
which make Balboa Capital a special company. For my
part, I am refreshed, invigorated, and ready to win
with you in 2004 and beyond.
”I will be making the rounds the next few days to catch
up on things, so I look forward to speaking with you.
If you joined the company during my leave, please
swing by so I can introduce myself.
”Thank you for your support. I am extremely optimistic
about what we will accomplish together.”
Leasing
News had heard this rumor last week that Shawn Giffin would be returning. We then asked Patrick Byrne if there was any
truth to what we had been hearing.
“Frankly, I don’t know what Shawn is doing but he is still an owner
of the company and if he wants to come back he can. I do know that everyone at Balboa is focused and committed to creating
a great leasing company.”
Byrne had taken a two year sabbatical and came back to the helm
in late September of last year.
It was then Giffin turn to take
some time off, they both said.
Since that date, Byrne was back in the swing of things, increasing
originations, creating a more sales friendly environment, improving
credit and funding processes using Six Sigma, cleaning house, increasing
customer service, finding fraud from vendors and salesmen, starting
a broker division, the first time in 15 year history, hiring Curt Lynse,
formerly with GE-Colonial Pacific, working on a national
vendor program division, and getting the company moving
in a very competitive manner.
“I’m thrilled to be back, “ Shawn Giffin told Leasing News. “My head
is clear. I’m invigorated.
This is a great company.”
Asked about his ability to get along with the other major share holder,
he said, ‘ Pat has a unique
set of skills, as I do. I think
we are
very complimentary working together. The point is I am fired up
and am really glad to be back at work. I love it! “
Asked about what his title would be, he said, “Titles aren’t important
to Pat or I. “
Here is the article on the return of Patrick Byrne to the helm of
Balboa Capital.
September 25,2003
Byrne is Back at the Helm of Balboa Capital
After celebrating 15 years with Balboa Capital of Irvine, California, a company he
" I love the company and am extremely proud of our employees, " he said.
" I believe it's the right time for other leadership to assert itself.
That's all there is to it. If I am needed, I am prepared to jump back in. My biggest
customers an outstanding experience."
It should be noted that Patrick Bryne took time off to obtain an MBA and
pursue other interest in 2000. He has been back in the company full
time since the first of the year."
1993-Balboa Capital Corporation ,VP Finance Shawn Giffin, CLP (left) congratulates President Patrick E. Byrne, CLP. The Western Association of Equipment Leasing member firm was recently ranked #67 overall on the Inc. 500 list.
WAEL Newsline
“The Balboa Capital story represents the true American dream of turning an entrepreneurial vision into reality. Formed in 1988 by two co-founders, Patrick Byrne and Shawn Giffin, the company has grown rapidly to become a nationwide leader in providing specialty commercial financial products to its customers. Today Balboa Capital has 7 offices across the country: Irvine, Los Angeles, San Francisco, Phoenix, Denver, Nashville and New York. Twice "Inc. Magazine" has recognized the company as one of the 500 fastest growing privately-held companies in the country. In 1997, Balboa Capital was honored by Ernst & Young, USA Today and Inc. Magazine as the Orange County Entrepreneur of the Year.
"Our entire team is committed to providing you the expertise you need, and personal service you deserve. I am proud of my fellow employees and the company we have built together."
- Shawn Giffin, President
"Your success is our success. By working together, we create an outcome which is
- Patrick Byrne
http://www.balboacapital.com/corporate/history.html
Reportedly the company at one time was doing $100 million a year in leases, securitizing them; perhaps the largest privately held company today. El Camino Resources in Southern California, who sold to GATX, and ATEL Capital, founded by AJ Batt and sold 75%
“Aloha Kit,
“I noticed in the headlines of your newsletter today that you would be
breaking a "big" story on my "return" to Balboa; therefore, I thought that
you and your readers should have the facts.
“I have actually been back at Balboa on a daily basis since the beginning of
the year focusing on the Marketing and Operations side of the business.
Prior to the beginning of the year, I took a sabbatical from Balboa for a
little over two years. While I remained active on the Balboa's board as
Chairman during my sabbatical, I got involved in some other areas. I
consulted and invested in some early stage companies; I started a real
estate company; I invested, and then divested, ownership in some bars and
restaurants; I completed a joint MBA degree from Columbia and The London
Business School; I married a beautiful woman, and we now have incredible
baby boy. I feel my time away from the day-to-day activities of Balboa
allowed me to gain a better perspective on Balboa and made me a more
valuable contributor. I love being back at Balboa and connecting and
re-connecting with the great group of people that work here.
“Now my partner, Shawn Giffin, has chosen to take a sabbatical from the
day-to-day activities of Balboa. Shawn continues to be an owner of the
company, a board member, and he will continue to work on various strategic
projects for the company.
“I can certainly empathize with his decision. He has been working at Balboa
for almost fifteen years and he has been heading the company for the last
three years. The last three years in the leasing business have not been
easy. The good news is that Balboa is a survivor; the bad news is that we
have not grown as fast as we would have liked. Many of your readers may
have encountered a similar situation. Shawn has earned and deserves a
break.
“Balboa continues to be a very vibrant company with a lot of great momentum
This has not, and will not, change.
“Kit, you provide an invaluable service to the Equipment Leasing Industry. I
hope all is well.
“Kind regards,
Pat
Patrick Byrne pateb@balboacapital.com
There were rumors floating around recently as Patrick Byrne personally visited
Balboa Capital has graduated many to start their own leasing companies. Most notably
The mission today:
“WE HAVE A PASSION FOR CUSTOMER SERVICE
WE ARE A TEAM
WE EMBRACE RESPONSIBILITY
WE STRIVE FOR CONTINUED SELF IMPROVEMENT
WE REQUIRE CONSTANT INNOVATION
WE DEMAND INTEGRITY”
http://www.balboacapital.com/corporate/mission.html
|
|
-------------------------------------------------------------------------------
http://www.utdallas.edu/police/wavs/Dragnetfreeze.WAV
Congress Paints Leasing for the Rich
by Christopher
Menkin
It appears Congress is on a rampage against tax shelters,
and large “sale/leaseback” special utility and government leasing, including
overseas. The Congressional brush is so large that it paints other leasing
transactions, and to be elected this year, knock down leasing,
bank loans, and there is even talk of making more changes in Small Business Administrative
loans, meaning not only tightening up the money available, but changing
requirements, such as guaranteeing only 50% of the loan.
This is a presidential election year, promising to be not
only
another close one, but much dirtier than the last. The spill
out is on business, who seem to always be painted the “bad guys.” We send
jobs and manufacturing overseas because it is too expensive
here, and all business wants to do is make a profit. Heavens forbid!!!
Ralph Nader is running on this premise, pushing both Democrats
and Republicans away from being “too close” to special interests ( as if “special interest” is viewed worse
than any swear word; as if promoting your business or your interest
is akin to stealing, or worse yet, marrying a person of your same sex.)
It is true that we
have several front page business
trials in progress with some sensational dollar amounts and lifestyles
from a Jacqueline Susann novel: Kozlowski et. el at Tyco,
Worldcom, Enron, Michael J. and John J. Rigas at Adelphia, and it even appears the so-called perfect Martha Stewart
was evidently caught in obstructing justice.
She even bills her
company for buying Starbucks coffee at a Mexican
retreat!!!
Not that leasing is
not viewed as a “tax gimmick” or even “bad boys,”
as evidenced by all
the companies that took both vendors and applicants such as Commercial
Money Center, MSM Capital, or the
hundreds of advance
rentals not returned to applicants when the
the lease does not
move forward ( yes, hundreds per year.)
Both the U.S. Senate and Congress have been getting headlines
in the major newspapers, not just the business sections, but the front
page about how leasing is creating “tax shelters” for the rich. The
only voice that protests seems to be Michael Fleming, president of the Equipment Leasing Association. Even the Association of Government Leasing
and Finance says the transactions don’t affect the great majority of
their member’s transaction, so evidently they want to be left out of
the fray.
None of the other leasing associations have taken a stand,
let alone do they seem to be interested.
While the Public Broadcast System does not get the TV ratings
of “The Survivors,” it is viewed by those who are actively involved
in the political process, and as important, the business editors, writers,
and journalists interested in the PBS viewpoint.
Leasing News asked its readers to watch the broadcast.
Several told us they were appalled at leasing be held as a “trick”
or “tax shelter for the rich.”
Rosanne Wilson said her view was that the show “...cast a
shadow of ‘evil” on big Banks and Lessors (leaving) the viewer wondering
if we were all cheating.”
Here is here e-mail:
“I
was glad I caught the segment on PBS last night thanks to you informing
your readers earlier in the week. I watched the entire program and oh
boy was that a powerful segment. It really opened my eyes.
“Clearly
the cases that segment focused on were obvious abuses of leasing in
my opinion. I believe that there has to be "substance"
in a transaction. The cases in the PBS segment definitely lacked
"substance". The government will no doubt define "substance"
and make this a requirement. But the PBS segment also cast a shadow
of "evil" on big Banks and Lessors that left the viewer wondering
if we were all cheating. That's just my take on it.
“How
about the rest of our viewers?? I would love more feedback.”
Rosanne
Wilson
Friday’s ELT News---
Arlington,
VA—February 20, 2004—The Equipment Leasing Association (ELA), the non-profit
association representing the $218 billion equipment leasing and finance
industry, today released a statement in response to a segment on the
PBS television show Frontline called "Tax Me If You Can,"
which aired Thursday, February 19.
“We
were taken aback by some of the language used in the Frontline segment
and ELA wishes to clarify some of the statements used,” said Michael
Fleming, ELA President. “The industry welcomes a policy discussion around
the appropriate role for leasing to tax-exempts. But, calling a legal
business practice a scheme or fraud, that is inappropriate. Inflammatory
statements, such as the ones made in the television segment, make it
difficult for policy makers and an industry to address a very serious
policy subject.”
Fleming
points out that the equipment leasing and finance industry provides
significant, much-needed capital and jobs across many different industries,
companies and organizations.
“Calling
an industry that contributes so much ‘a bunch of hucksters’, isn’t appropriate,”
said Fleming. “If current law doesn’t work, then let’s have a civil
discussion about what would work. We certainly are willing to address
the issues.”
Critics
of leasing have attempted to depict some finance leasing to tax-exempt
entities negatively to justify efforts to change longstanding and well-established
tax principles surrounding the leasing industry.
“Leasing
levels the economic playing field between profitable taxable entities
and non profitable or tax-exempt entities with regard to the cost of
acquiring equipment,” notes Fleming, citing that for decades Congress
has encouraged investment in capital goods through tax depreciation.
“Tax depreciation allows an entity to recover the investment made in
an asset. Congress and the courts
have affirmatively provided for lessors to utilize tax depreciation
when leasing to taxable corporations as well as tax-exempt entities.”
The
current policy debate on lease financing to tax-exempts has focused
increasingly on the nature of the asset, the geographic location of
the asset and the nature of the lessee, as was the focus of the Frontline
segment.
“However,
all of these considerations have been and should remain unimportant
under well established legal and tax principles,” said Fleming. “The
appropriate tax treatment of a sale and lease of a transit facility
by a governmental entity in Frankfurt, Germany, for example, should
be no different than the sale and lease of a transit facility by a governmental
entity in Frankfurt, Kentucky.”
Contrary
to what the PBS story depicted, the leasing industry is not opposed
to the doctrine of economic substance, asserts Fleming. The economic
substance doctrine is already the law, established by regulation and
court decisions and is enforced through the IRS. The industry, said
Fleming, is opposed to the statutory codification of the doctrine, not
to the doctrine itself, because it will make the doctrine too rigid
and create enforcement headaches. This opposition to codification is
shared by the United States Treasury Department.
#
# #
About
The Equipment Leasing Association
Organized
in 1961, the Equipment Leasing Association (ELA) is the premier non-profit
association representing companies involved in the dynamic equipment
leasing and finance industry to the business community, government and
media. As the voice of the leasing industry, ELA promotes the estimated
$218 billion industry as a major source of funds for capital investment
in the United States and abroad.
ELA
provides its members with comprehensive services, assists in the resolution
of industry issues, educates financial decision-makers on the benefits
of leasing and promotes high standards of business practices within
the industry. ELA maintains an informational portal for financial decision-makers
to learn more about leasing and find a leasing company at http://www.LeaseAssistant.org.
Headquartered in Arlington, Va., ELA has more than 800 member companies
and a staff of 25 professionals. For more information on ELA, please
visit ELA Online at http://www.ELAOnline.com.
-----------------------
Others had a different take on it:
It is my opinion that to stop abusive shelters the inclusion of the
so
called "experts", such as the lawyers and accountants who
provide the
opinion letters to the shelter, as primary penalty targets would be
the most effective deterrent in these
cases. Targeting the investor who holds an opinion of accountant
and an opinion of counsel saying the shelter is legal under the law
and is valid under FASB seems unfair and ill-conceived. Unless the investor
"knew" the shelter was abusive, the experts should pay the
fines, lose their houses, do whatever jail time and lose their license
to practice.
Why should some grandmother in Duluth (Or beneficiary of a managed trust
for that matter) lose his/her/their house when it was the "experts",
by prostituting themselves, who provided the "sales material"
for the shelter to sell to the investor in the first place?
I believe that the leasing industry should bring a request to the
administration for the issuers of opinion letters to be the first target
of
criminal prosecution. Clean these folks out and the abusive shelters
will die a natural death.
The leasing industry needs to protect the "investors" so they
can invest in valid shelters and lease portfolios another day.
It is the "outside experts" who will ruin the industry for
personal gain while those who make their living at it will suffer.
Jim Hill
Private Label Leasing, Inc.
mailto:jahill@leasingservice.com
800-451-6567 Voice/Fax 866-571-3921
PBS Attacks Leasing Tax Shelters
http://www.leasingnews.org/#pbs
http://www.pbs.org/wgbh/pages/frontline/shows/tax/shelter/producer.html
###
Press Release ##############################
http://www.utdallas.edu/police/wavs/jmonline.wav
Direct
Capital Launches Equipment Financing for eBay Customers
“The shift has further fueled eBay's breakneck growth. Small
businesses bought $2 billion worth of products on eBay last year, twice
what they did in 2002.
About 430,000 individuals and small businesses make their
livings from eBay — nearly three times the number in late 2002. And
there are 1 million business-related listings on eBay, twice that of
a year ago.”
http://www.usatoday.com/money/smallbusiness/2004-02-22-ebay_x.htm
Direct
Capital Corporation announced that its equipment financing service is
now available to buyers and sellers of business equipment and office
technology on eBay, The World’s Online Marketplace.
Many
small businesses, across a variety of industries, are turning to eBay
to save money purchasing new and used equipment for their businesses.
Now, with an integrated financing option available on eBay, businesses
have greater access to capital and a more convenient way to equip their
businesses.
Equipment
Financing for eBay, provided by Direct Capital, offers business buyers
financing options for industrial equipment and information technology,
priced at $2,000 or higher. Additionally, Direct Capital provides inspection
checks to ensure the quality of the products being sold. The equipment
financing offering applies to business purchases across a broad range
of eBay categories including computers, networking, telecom, construction,
agriculture, metalworking, restaurant, commercial printing and medical
equipment.
“Equipment
financing is a great fit for eBay because it enables buyers to securely
purchase products for their businesses and spread the costs affordably
over time,” said Jim Broom, CEO of Direct Capital Corp. “At the same
time, buyers can preserve working capital, leverage significant tax
advantages, and bundle in shipping costs. Sellers benefit from the reimbursement
of eBay final value fees, attracting more buyers, and have the added
assurance of selling to pre-approved bidders.”
Use
of the equipment financing program is streamlined for both sellers and
buyers. Sellers simply enroll in the program and include a link to the
financing service within their eBay item listings. Buyers complete an
online application and, once approved, are able to purchase items on
eBay up to a specified financing amount. Once a transaction is completed
on eBay, Direct Capital will remit to the seller, via PayPal, the purchase
price of the item, the eBay final value fee, and any associated PayPal
fees.
Walter
Kond, owner of Miacom, a Miami-based worldwide manufacturer of specialty
computers, is one customer who already benefited from the new financing
option available on eBay. “We recently financed equipment for our business
on eBay through Direct Capital. The service was excellent. We were approved
within hours, which enabled us to quickly win an auction for equipment
we were searching for on eBay. We were even able to add the shipping
costs into our monthly payments. The whole process was fast and secure.
This is an excellent program and I recommended it to any eBay buyers
that need equipment for their business.”
The
Equipment Financing Program can be accessed directly at eBay Business
www.ebaybusiness.com. Available since last year in January 2003, the
eBay Business page brings together all business-related listings on
eBay into one destination, making it easier for small businesses to
find the equipment and supplies they need. With more than one million
listings of business items at any given time, small businesses across
a wide range of industries have discovered that eBay is a great place
to find significant savings on capital equipment, office technology
and wholesale lots.
For
more information about Direct Capital visit www.directcapital.com.
### Press Release ##############################
|
|
Offshore
jobs move down the food chain
By Leigh Weimers
San
Jose Mercury News
It
was only a matter of time, I guess, before off shoring (having high-wage
jobs in the United States performed by low-wage workers abroad) would
move beyond the big corporations and into the realm of small businesses
-- and those who woo them.
San
Jose CPA David Mullen is among those who've received mail invitations
for a $47 two-hour seminar Thursday on how to export his accounting
work to India. ``Charge your accountant out at $80 an hour,'' the flier
trumpets. ``Pay them $8 an hour.''
``I
find this whole idea greatly offensive,'' Mullen says, but that's not
stopping the seminar's organizer, Wyoming-based Bridge21 and its founder,
K.C. Truby. Truby, who claims to be the world's largest trainer in the
use of QuickBooks, a PC accounting package, has set up a Web site (http://accountantsinindia.com)
extolling the accountants in India he's trained. He says they're all
ready to perform American accountants' bookkeeping data entry, tax return
preparation, payroll and other tasks at cut rates.
``Clients
don't care,'' Truby's pitch notes. Mullen does. ``I am definitely small
potatoes in the accounting game,'' he says (he's a one-man shop), ``and
if they are reaching this far down the food chain with outsourcing,
this problem is far greater than I supposed it to be.''
Perhaps
the next telemarketer to find out if the company wants to lease will
be from India with an English accent.
http://www.utdallas.edu/police/wavs/barneynipit.wav
###
Press Release ##############################
General
Electric Names Three New Officers
FAIRFIELD,
Conn.----General Electric has announced the appointment of three new
company officers.
Ron
Carapezzi, 45, is President, GE Commercial & Industrial Financing,
part of GE Commercial Equipment Financing (CEF). Prior to this, Ron
was
SVP & General Manager for CEF's US Equipment Financing business.
Ron spent 15 years with CEF, during which time he began the successful
Capital Funding unit. Ron left CEF in 2001 to become Senior Managing
Director of GE Merchant Banking. A 20-year GE veteran, Ron began his
GE career in the Financial Management Program (FMP), taking on assignments
in the U.S. and the Middle East. Ron also held various sales and sales
leadership positions throughout the U.S. Ron holds a B.A. in Finance
from Fairfield University.
Shane
Fitzsimons, 36, is Vice President of Financial Planning & Analysis
at GE Corporate. Previously, Shane was General Manager, Finance at GE
Engine Services, a business unit of GE Transportation. He has held several
financial leadership positions at GE, including financial planning &
analysis at aircraft engines, commercial finance for plastics in Europe,
and financial analysis at corporate. Shane joined GE in 1994 following
seven years of experience in public accounting, where he qualified as
a Chartered Accountant with the Institute of Chartered Accountants in
Ireland.
Stuart
Sinclair, 50, has recently been appointed President and CEO of GE Financial
Services, China. Prior to this, he was Regional Managing Director of
the UK and Ireland region of GE Consumer Finance. He also held the position
of CEO of GE Consumer Finance's UK business between 1999 and 2002. Stuart's
previous roles prior to joining GE in 1999 include CEO of Tesco Personal
Finance and Director of UK Retail Banking at Royal Bank of Scotland.
He also has significant management consultancy experience, working with
a wide range of global banking clients. Stuart is a graduate of Aberdeen
University, where he was awarded a first class degree in Economics.
GE
(NYSE: GE) is a diversified technology, media and financial services
company dedicated to creating products that make life better. From aircraft
engines and power generation to financial services, medical imaging,
television programming and plastics, GE operates in more than 100 countries
and employs more than 300,000 people worldwide. For more information,
visit the company's Web site at http://www.ge.com
####
Press Release #########################
Wells
Fargo Equipment Finance, Inc. to present at
Lessors
Network Lease Origination, Funding & Distribution Showcase
ATLANTA,
(Lessors Network) - Wells Fargo Equipment Finance, Inc. joins a prestigious
list of funding sources from the commercial and municipal equipment
lease markets, participating in the Lessors Network Lease Origination,
Funding & Distribution Showcase scheduled March 11-12, 2004.
Fred
Costabile, Territory Manager, Wells Fargo Equipment Finance, Inc., will
deliver an overview of Wells Fargo Equipment Finance's 2004 investment
strategies. Mr. Costabile will be available to meet privately with attendees
in the Networking Suite immediately following showcase presentations.
About
The Lessors Network
The
Lessors Network provides many free web site programs and services facilitating
new business development within the commercial and municipal equipment
leasing communities. Additionally, the Lessors Network produces exclusive
networking events for small groups of industry professionals at the
Ritz-Carlton, Buckhead hotel in Atlanta.
http://www.lessors.com/Events-2004/Syndication/overview.html
### Press Release ###############################
Irwin
Financial Corporation Announces Addition To Board Of Directors
COLUMBUS,
Indiana ---- Irwin Financial Corporation (NYSE: IFC) today announced
the election of R. David Hoover to its Board of Directors.
Hoover,
58, is the Chairman, President, and Chief Executive Officer of Ball
Corporation (Broomfield, Colorado). He has been with Ball Corporation
since 1970 serving in a variety of positions. Prior to joining Ball
Corporation, Mr. Hoover was with Eli Lilly and Company of Indianapolis,
Indiana.
Mr.
Hoover currently serves on the boards of Maxon Corporation; Energizer
Holdings, Inc; and the National Association of Manufacturers (NAM).
He is also a member of the boards of: The Community Foundation Serving
Boulder County; the National Food Processors Association (NFPA); the
Can Manufacturers Institute (CMI); DePauw University Board of Trustees;
the Indiana University, Kelley School of Business Dean's Advisory Council,
and the University of Colorado at Denver Business School Advisory Board.
He
received his Bachelor's Degree from DePauw University (Greencastle,
Indiana), an MBA from Indiana University (Bloomington, Indiana), and
completed the Advanced Management Program of the Harvard University
Graduate School of Business, Boston.
Will
Miller, Chairman and CEO said, "Irwin Financial is very pleased
to welcome David Hoover to our Board of Directors. His business acumen,
broad experience, and financial expertise will enhance our Board. Our
current directors and senior management team are looking forward to
working with him."
Mr.
Hoover was elected by the Board to serve the remainder of the term of
John Nash, which expires in April 2005. Mr. Nash retired as President
and a board member of the Corporation in April of 2003. Mr. Hoover's
appointment to our Board of Directors brings the total number of directors
to 10.
Irwin®
Financial Corporation (www.irwinfinancial.com) is an interrelated group
of focused lines of business organized as a bank holding company, with
a history tracing to 1871. The Corporation, through its operating companies
-- Irwin Mortgage Corporation, Irwin Union Bank, Irwin Home Equity Corporation,
Irwin Commercial Finance, and Irwin Ventures -- provides a broad range
of customized banking services to consumers and small businesses in
selected markets in the United States and Canada.
CONTACT:
Suzie
Singer
Corporate
Communications
(812)
376-1917
###
Press Release ##############################
Irwin
Business Finance Announces Promotion
Irwin
Business Finance announced the promotion of Randy Freeman to vice president,
business development.
Freeman
has been a strong contributor in sales and sales management within the
leasing industry for 20 years. He has held senior sales and management
positions at A&T Capital, CitiCapital and JLA Credit. Freeman joined
IBF in 2002 and manages the Southeast region.
“Randy
has been a top producer and has demonstrated great teamwork by working
within IBF to achieve company as well as personal objectives. We appreciate
Randy’s dedication and commitment to IBF,” said Joe Bannick, vice president,
sales and marketing.
### Press Release #############################
---------------------------------------------
Financial Services provider expands
into Asia Pacific region; Phil Green appointed Managing Director De
Lage Landen Southeast Asia
WAYNE,
Pa., – To meet the growing needs
of its global customers, De Lage Landen International B.V. announced
today that it will expand its global network of operations in the Asia
Pacific region. As a first step into this region, De Lage Landen will
establish formal operations in Singapore, effective July 1, 2004.
De Lage Landen is a leading international
provider of high quality asset-based financing products to manufacturers
and distributors of capital goods and a wholly owned subsidiary of Rabobank
Group of the Netherlands.
Phil Green, who previously served as Managing
Director, European Business Development, will head up the operation
in the newly created position of Executive Vice President and Managing
Director, Southeast Asia. Most recently, he served as Managing Director
for De Lage Landen Australia Pty Ltd in Sydney, Australia.
In his new role, Green will be responsible
for expanding the company’s global relationships throughout the region.
He will report directly to Ronald Slaats, Chairman of De Lage Landen’s
Americas Division, headquartered in Wayne, PA.
A 14-year veteran of De Lage Landen, Green
established De Lage Landen’s business in Australia and New Zealand in
2002. He also has been managing new business development activities
for the company in the Asia Pacific region.
Earlier, Green played a key role in the development
of De Lage Landen’s Food & Agriculture business in Europe and in
establishing several joint ventures. He also managed development of
De Lage Landen’s strategy of Global Account Management.
In a related move, Mike McInerney, who has
been serving as Managing Director, CNH (Case Credit & New Holland
Credit) Capital Australia, has been appointed Managing Director of De
Lage Landen Australia Pty Ltd and of the New Zealand Company, De Lage
Landen Ltd, effective February 1, 2004. He will report directly to Green.
De Lage Landen is a Netherlands-based international
provider of high-quality asset financing products. With a presence in
20 countries across the globe, the company focuses on the following
industries: Food & Agriculture, Healthcare, Office Equipment, Telecommunications,
Technology Finance, Materials Handling & Construction Equipment
and Financial Institutions. In its domestic market the company offers
Equipment Leasing, Car & Commercial Vehicle Leasing, ICT Leasing
and Trade Finance through local Rabobanks but also direct to market.
De Lage Landen is a wholly owned subsidiary
of the Dutch Rabobank Group that is AAA-rated by Moody’s and Standard
& Poor’s. For 2003 De Lage Landen expects to grow its profits to
$148 million (€115 million) and its balance sheet total to $17.6 million
(€14 billion).
For more information, please contact our
website: www.delagelanden.com
###
.
Sites
of Reference:
http://www.delagelanden.com
CONTACT:
Rita
DiMartino
De
Lage Landen Financial Services
Phone
Number: 610 386 5441
Fax
Number: 610 386 5840
E-mail:
rdimartino@leasedirect.com
###
Press Release ##############################
------------------------------------------------------------------------
|
We
are actively seeking experienced Account Executives as part of
a significant growth initiative for 2004. Candidates must be self-motivated,
hard working, and enjoy making some of the highest commission
splits in the industry. About the Company: Genesis Commercial Capital, LLC; 17910 Skypark Circle, Suite 105; Irvine, CA. 92614 www.gen-cap.com |
------------------------------------------------------------------------
Grand
Rapids Press---Neal W. Ranstead obituary
RANSTEAD
(Rockford) - Neal W. Ranstead, aged 51, passed away unexpectedly on
Monday morning, February 16, 2004. Neal was a graduate of MSU and employed
as a vice-president at for PNC leasing. He is survived by his wife,
Susan; his daughter, Jessica; his brother, Merritt (Beverly) Ranstead,
III; his sister, Leslie Finlayson; his mother in-law, Mrs. Delores Kelly;
nieces and nephews. The memorial service for Neal will be Friday evening,
February 20, 2004, at 6:00 o'clock at the funeral home, with the Rev.
Thomas Page, officiating. Those planning expressions of sympathy are
asked to consider.
Jessica
Ranstead Education Fund
c/o Fifth Third Bank
4985 10 Mile Road NE
Rockford, MI 49341
616-866-1200
News
Brief---
Household
Financing in Good Shape Thanks to Low Mortgage Rates, says Fed Greenspan
promoting the economy
http://www.usatoday.com/money/economy/fed/2004-02-23-greenspan-debt_x.htm