Monday, February 6, 2006
Congratulations!!! Pittsburgh Steelers!!! Headlines--- Fresno Bee: Kenneth Wheeler, Silver Star Hero ######## surrounding the article denotes it is a “press release”
Fresno Bee Obituary Kenneth Wheeler, Silver Star Hero
KENNETH WHEELER Born in Reedley, California, to Betty Darlene and Worley Howard Wheeler, Ken passed away on Sunday, January 29, 2006, at the age of 61. As a Green Beret in the Vietnam War, Ken was awarded the Silver Star. He graduated from Fresno State College. He was a long time Fresno resident and business owner. He is survived by his son Sean of Fresno; his brother Tom of North Fork; his fiancée, Carola Gaylord of Fresno, and many nieces and nephews. A Service will be held in North Fork on Sunday, February 12, 2006, at 1:00 p.m., details pending. Remembrances may be made to St. Agnes Hospital Foundation, P.O. Box 27350, Fresno, CA 93729. A Guest Book has been created as a tribute to Kenneth Wheeler. http://www.legacy.com/fresnobee/Guestbook.asp?Page=GuestBook&PersonID=16587575 -------------------------------------------------------------- Top Stories--January 30-February 3
These are the top ten stories most "opened" by readers last week. (1) Ken Wheeler “Passing Away Story” Pulled (2) Bad Moon on the Rise—by Steve Chriest (3) Menzel to Receive Award at UAEL Conference (4) Broker/Lessor List is Up-Dated (5) Studebaker-Worthington Leasing Parent hit (6) Cortese Travelers Leasing New Head Op. (7) Feds Raise Rate ¼ Point (8) "Sales Makes it Happen"---Doug Houlahan (9) Attorneys Specialize in Equipment Leasing (10 ) New UAEL Officers/Directors -------------------------------------------------------------- Classified Ads—Collector/Controller/Contract Administrator
Pittsburg, Pennsylvania* Collector
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For a full listing of all “job wanted” ads, please go to: http://64.125.68.91/AL/LeasingNews/JobPostings.htm To place a free “job wanted” ad, please go to: http://64.125.68.91/AL/LeasingNews/PostingForm.asp *This panoramic photograph of downtown Pittsburgh, Pennsylvania was taken by James Blakeway. Featured on the far left is Three Rivers Stadium, home to the Pittsburgh Pirates Baseball and Pittsburgh Steelers Football teams. Point State Park, with its' fountain, is located where the Allegheny and Monongahela Rivers meet to form the Ohio River. Size is 13.5"x40". Buyer pays shipping and handling. Availability: Usually ships in 3-4 business days. Regular price: $35.00Sale price: $27.93 Please go to: http://www.retrocollection.com/htmlpages/panorama.htm ) --------------------------------------------------------------
Archives—GE began cutting back with Tilden in 2001 February 6, 2001 Colonial Pacific (2/2001) closed former Tilden operation in Hauppauge, NY and Anaheim, CA, at noon today. This came as a surprise to employees, we were told. They were not "upset," but surprised. They specifically did not want to talk "on" or "off" the record. We had reported in Leasing News, September 21, 2000: "Tilden in its current form will be closed down and folded into GE\Colonial Pacific." (Note: GE Capital purchased Colonial Pacific Leasing in 1998, after it had been run by Pitney Bowes, who purchased it from Rose Lumber. Perhaps this move was the first to fore shadow the cost of return for the dollar operated, when it ended this small ticket program, except for a few brokers. Eventually they phased out this once successful operation, along with other programs. Reportedly in the last six months, GE Capital has been getting out of small vendor program, including many of their own manufacturing subsidiaries who require small ticket financing programs. It looks like the thrust is moving its energies to higher ticket items, not under $250,000 transactions, plus aiming at the India/China basin, positioning itself for more intercontinental business, because that is where the money is. Certainly manufacturing is moving in this direction, too. Editor) -------------------------------------------------------------- Story Credit Lessors ( for other "Funder", who do not specialize in “Story Credits,” click here These companies specialize in "C" and "D" credits, often news businesses, or businesses where the principal(s) have Beacon score around 600 or previous difficulties; meaning to become comfortable with the credit and financial situation you need to learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. Many of these companies may also be a "B," but appear otherwise without the "story" to understand the full financial picture. (To qualify for this list, the company must be a funder and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. We reserve the right to not list a company who does not meet these qualifications.) We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged. ( To apply to be listed, please fill in this form and fax to 408.374.3843 or you
(A) Pawnee Leasing Corporation; Some times we go higher than $30,000, but our marketplace is from $1,000 to $30,000. (B) Allegiant.pdf (C) Mesa Leasing, Inc., Industries served: Titled vehicles (Trucks, trailers, OTR, etc.), Construction, Restaurants, and all the other "hard to get approved" industries. (D) ABCO Leasing, Inc. in Seattle area has been operating since 1974 serving the broker community. We required full financial disclosure on every transaction. We do story transaction, but do not like to refer to them as "C" of "D" credits. We think of therm as "A" type credits that have not been discovered yet. In actuallity, we do not really like to look at what most describes as "D" credits. (E) Black Rock Capital comment: We book anywhere between $15 to 20 million per year. We do no "app only" business and require a full financial package for each transaction. Our average size transaction is approximately $250k and, although, we concentrate in printing, packaging (steel rule die industry) and road construction equipment we do not rule out anything that makes sense. More information can be found at www.blackrockcapital.com. (F) Black Rock Capital (Ireland) Limited and Black Rock Capital (UK) Limited provide the same services for small to middle market corporations in the European Economic Community and the United Kingdom. (G) Cobra Capital, LLC. Comments: Our registered trademark "Making impossible possible" is our central marketing tagline for both strong and weak credits. I have developed a 10 year history, (from Cobra and my prior company GALCO), with specialty, non-conforming transactions (story credits) and have a solid reputation for candidly responding to our originators and lessees and working diligently to mitigate deal risk rather than making excuses to turn deals down. Our originators prefer our underwriting approach to non-conforming transactions since unlike most non-conforming funders, we prefer to mitigate risk versus jacking our return. Both Originators and Lessee's prefer our candid approach as we are also frequently asked to advise lessee's and lessors on the best way to structure their bank loans and raise capital due to our 25+ year banking and accounting backgrounds as my partner and I are both former bankers and CPA's. (H) Pentech is the lessor partner with Manifest Funding Services for their Navigator, Navigator Plus & Navigator Direct. This is through our sister company Pentech Funding Services, located in San Diego and headed up by Ron Wagner. (I) Sunrise International Leasing Corporation Comment: The broker program is "...an informal program as our primary business is still vendor leasing." (J) Boston Financial & Equity Corporation, most of our leases are venture capital backed startups and turnarounds. We require full financial disclosures, CPA and internal statements, no tax returns. We do not required additional collateral, no PG's or RE needed. Do not send deals with large tax liens, especially if they are payroll taxes. (K) Dakota Financial is a collateral-based direct funding source that specializes in C & D level transaction for customers who are unable to receive funding from traditional sources. Our nationwide program provides funding for start-ups as well as credit profiles that have prior bankruptcies, judgements, tax liens, repossessions or slow pays. I would say that the average credit score of our transactions is in the mid 500s. We have done many deals in the sub 500 range. Although we do all kinds of equipment, we specialize in trucks (including over the road owner operators), trailers, yellow iron and logging equipment. I encourage you to go to our website, www.dakotafinancial.com to find out more information including examples of recent funded transactions. (L) IFC Credit Corporation also services on a regular basis "A" and "B" credits, but it also considers "story credits." "As you say, we need to become comfortable with the credit and financial situation and learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. I would describe the B and C type credits we fund as companies having 'checkered earnings'." (M) Creative Capital Leasing Group: "We are able to fund tough deals, bad credits, BK's, past tax liens, start ups, used equipment, etc., because we look outside the transaction for real estate, and marketable securities to take as additional collateral." (N) Blackstone Capital Partners, L.P. lends up to 50% of verified auction value for working capital and/or equipment financing requests (we of course include equipment to be acquired in our valuation). Using this formula, allows Blackstone to approve deals on the assets rather than the credit or cash flow that other lenders desire. Also being an asset lender, we are looking for hard assets i.e. yellow iron, machine tool, manufacturing lines, textile etc... We do not care for soft assets such as computers, furniture, restaurant, or "white elephants" (equipment that is too specific to the clients needs and was specially built for them - there would be no resell available and our liquidity if repossessed would be in jeopardy). If you have any questions, please feel free to call, we will do our best to help or seek the answer for you. (O) Bankers Capital " We will do ANY Type of Equipment, in ANY industry, in ANY state. We especially like 6-figure transactions with full financial packages no matter how good or bad they look. We look to structure the story C&D credits with any kind of additional collateral that makes sense. It could be with 2nd or 3rd mortgages on residential or commercial Real Estate, additional equipment, cash value life insurance, security deposits, vendor agreements. We look for any way to make the deal work instead of looking for any way to decline the deal." (P) Financial Pacific Leasing supports a nationwide network of Brokers and Lessors. We specialize in "B" and "C" credits for established companies as well as companies under two years in business. (Q) American Leasefund, Inc. funds small hard to do transactions under $50,000.00. Most of the transactions are "app only". We look for additional collateral or larger first payments to help the weaker credits. We maintain and service our own portfolio. All of our lessee billings are done via ACH. (R) Dolsen Leasing has served the 11 Western States since 1958 and specializes in B & C Credits for established and new companies. We require a full financial package and offer both leases and financing for new and used equipment in the range of $10,000.00 to $250,000.00. Specialties include titled vehicles for both existing and new owner operators. Story credits are considered as long as credit has been reestablished and trends are positive. Credit decisions are based on old fashioned common sense, not credit scores, allowing us a very quick turnaround-often the same day. We accept broker business and also have in house salesmen. (S) We at Summit Leasing consider ourselves to be primarily "B" credit lenders, working almost exclusively through brokers. (T) TechLease - due to previous experiences, TechLease is vertically focused on three primary sectors: Semiconductor, Media and Aerospace. We fund all deals and hold paper an all equipment under $250,000. Deals over $150,000 we typically want to meet the Lessee face-to-face. We prefer business in California, however we will fund nationwide. (U) We specialized in start-up business. These are the northern states we do business in AK, AZ, CA, CO, ID, OR, WA. Click here to read our Product overview and Press Realease. (V) Agility Solutions; we fund all equipment used by Wireless Internet Service Providers. (W) Forum Financial Services, Inc., prefer venture capital backed start-ups and middle market to large corporate turnaround companies including companies in bankruptcy and post bankruptcy. Our absolute minimum sales for an established business with financial problems are $10.0 million. (this does not include venture capital backed start-ups). (X) Advantage Funding - While we also consider quality equipment leasing as a funder, in the title vehicle leasing business, we consider all types of situations and credits and speciality vehicles for commercial use. We have a history of understanding all types of title vehicle leasing. --------------------------------------------------------------
“Funder List” Up-dated
To view full list with alphabetical click to, please go here: http://www.leasingnews.org/Funders_Only/Funders.htm --------------------------------------------------------------
At the conference, Leasing News will be presenting Paul Menzel, CLP, with the "Leasing News Person of the Year for 2005" award. Editor/Publisher Christopher "Kit" Menkin and many of the Leasing News Advisory Board will be on hand for the presentation; to salute Paul for the over 30 years he has contributed to the leasing profession. Register: or download form in PDF
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Asset-Based Revamp At Royal Bank of Scotland Group ELTnews Royal Bank of Scotland Group PLC said it has combined its three U.S. asset-based financing businesses under its RBS Asset Finance unit. The unit, which has retained its name, now includes the asset-based operations of Royal Bank's $148 billion-asset Citizens Financial Group Inc. of Providence, R.I., and of Charter One Financial Inc. of Cleveland, which Royal Bank bought in August 2004. Royal Bank said it will continue to use RBS, Citizens, and CharterOne brands in different markets. The company said it will be able to extend the range of products available to customers with loans and leases of between $250,000 to $250 million, with particular expertise in business aviation, federal government, cross border, structured and public finance, as well as indirect sales and equipment leasing. --------------------------------------------------------------
Browser Wars
Firefox is challenging Microsoft in the browser wars. This free software is available at: http://www.spreadfirefox.com/ Safari is Apple's browser. The Apple system reportedly has very little spam and less hackers than all the others combined, it is said. Netscape, who once was in the same position as Microsoft today, holds only a very small portion of the marketplace they first dominated, actually charging for their program. It is said Netscape revolutionized the World Wide Web as it was the first to replace "Archie" and "Gopher" with a very friendly "search engine." [headlines] Mount Pleasant Capital Negotiates New Warehouse Facility Bob Rodi, CLP, President of Mount Pleasant Capital Corp. has announced that the company has negotiated a new warehouse facility with Sky Bank. The new warehouse facility provides MPCC with a borrowing base up to $5MM and is expected to greatly enhance the company's funding capability. Mr. Rodi stated “We were reaching a plateau in our ability to handle pre-funding for our franchise customers. Without the additional capacity the potential to capitalize on growth initiatives would be limited.” MPCC has also refocused its marketing efforts using targeted, web based advertising which is already producing excellent results. The company is also developing its RAPIDTrack platform for SalesForce.com and will include a “dash board” capability that will channel internet leads directly to sales affiliates in targeted metro areas. Rodi states “We expect these initiatives to produce a major increase in volume in the upcoming year. With the availability of additional capital and improved take out funding, we can accommodate additional Affiliates. We are also planning on instituting an outbound telemarketing program as we think this will be major year for refinance activity in the franchise industry.” MPCC has also completed its first subordinated debt offering. The company will use this opportunity to evaluate raising sub-debt as a growth strategy. With the help of long time friend, investor and advisor, Richard J. Masterson of Masterson Development, MPCC is presenting its capability to investors who are disenchanted with the stock market and real estate. Bob Rodi states “We are very fortunate to have a great friend and advisor like Rich Masterson. Rich was a founder of this company and he is family to us. He is still committed to our long term success and he has a proven track record and tremendous credibility when it comes to raising capital. Rodi is also betting that the Specialty Finance industry is once again entering that part of the cycle where origination will be “King” and “buy desks” will be plentiful. It is apparent that conditions for raising capital are also turning in favor of those who have the most efficient origination capabilities, especially in niche markets. Rodi states “After 17 years in business we are in an excellent position to grow this company and begin holding more transactions in our own portfolio. We have an in-depth understanding of small ticket and the franchise niche, excellent industry contacts, and a thorough knowledge of credit scoring and risk based pricing. Couple that with an efficient, web enabled origination capability and we believe we have the right formula for growth.” Mount Pleasant Capital Corp. will debut its new logo, programs and RAPIDTrack at the IFA (International Franchise Association) show in Palm Springs in late February where Bob Rodi, CLP will head a round table session “Successful Leasing Programs for Franchisees.” About Mount Pleasant Capital Corp. Mount Pleasant Capital Corp. based in Warrendale, PA is a technology enabled lessor\lender. The company is a leading provider of specialty finance products and “SBA alternatives” to the franchise industry. The company's proprietary, web enabled software product, RAPIDTrack uses the latest in credit scoring technology from Fair,Isaac & Co. and Genesis Analytics to offer an accurate and efficient risk management and pre-screening tool to the franchise industry. About Masterson Development. Masterson Development, LC is a diverse real estate development, investment and holding company headquartered in the Ambler, PA. The company currently has projects underway in Philadelphia, New Jersey, and Florida in the US, the Pacific Coast of Costa Rica, and Montreal, Mt. Tremblant\St. Jovite in Canada. Recently completed projects include Chateau Beauvallon, a luxury boutique hotel in Mt. Tremblant, Quebec, www.chateaubeauvallon.com ### Press Release ###########################
News Briefs--- Major deficit-reduction deal this year has hurdles How commercials ranked in Super Bowl Ad Meter Mortgage rates climb this week ---------------------------------------------------------------
You May Have Missed 'Idol' May Give Olympics Run for the Money http://www.ajc.com/hp/content/shared-gen/ap/TV/TV_Olympian_Battle.html ---------------------------------------------------------------
Sports Briefs---- Steelers are super for the fifth time, 21-10 Jubilant Steelers fans celebrate in Pittsburgh Steelers reach improbable destination with Super victory Mistakes plague Hawks in first shot at title Reader Response: Hawks lose in first Super Bowl Madden living a dream Madden deserves Hall pass ----------------------------------------------------------------
“Gimme that Wine” $2M worth of wine destroyed in Silver Oak Winery fire Now is the best time to buy wine For better or worse, few rules for Pa. grape lovers seeking to buy out of state. If you want to know if you got a value for your wine, or what the wine price is today, go to www.winezap.com Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1998 Viader ----------------------------------------------------------------
Calendar Events This Day Pay A Compliment Day Practice his simple act of premeditated kindness and pay a compliment to coworkers, family members or a stranger on the street or in the elevator in your office building. Go ahead, make someone feel special and see a difference a sincere compliment makes. Reggae Day Honors birthday of Bob Marley, one of the most popular and influential performers of reggae music, an "off-beat, accented Jamaican" music. ----------------------------------------------------------------
Today's Top Event in History 1820- US population announced at 9,638,453 (1,771,656 blacks (18.4%)) The number of college graduates in the U.S. was estimated by James Fenimore Cooper to be 8,000. A financial panic that struck the U.S. in 1819 still brought fear as many state banks were closed and much western property was turned over to the Bank of the United States. Immigration slowed to a trickle for almost two decades, especially after the new immigration law was enacted by Congress. Stained relations between the North and the South hinted at trouble to come as the Union consisted of 11 free and 11 slave states. The North, however, was rapidly outdistancing the South in population and held a grown numerical advantage in the House of Representatives. Ready for state were Maine, certain to be a free state, and Missouri, part of the Louisiana Purchase and likely to be a slave state. Big time political machines were introduced in the US led by a group of New York Democrats known as the Albany Regency. Martin Van Buren was among the leaders of the group, which controlled New York politics for two decades.
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This Day in American History 1756- birthday of Aaron Burr, 3rd vice president of the US (Mar 4, 1801-Mar 3, 1805). While vice president, Burr is remembered most for challenging political enemy Alexander Hamilton to a duel and mortally wounded him July 11,1804, at Weehawken, Aaron Burr and Thomas Jefferson tied in the electoral vote and the election went to Congress. Hamilton, a leading Federalist, supported Jefferson. In those days, president and vice-present were elected separately ( Jefferson when he ran for re-election, choose his own vice-president, George Clinton, starting the tradition.) It was Hamilton who denied Burr the presidency by his one vote, and lead against Burr's politics. ( Hamilton was not familiar with firearms, but was a Man of Honor” and despite pleas from friends, his wife, sons, he felt he had to defend his honor, knowing it meant his death. ) Indicted for the challenge and for murder, Burr returned to Washington to complete his term of office (during which he presided over the impeachment trial of Supreme Court Justice Samuel Chase). Ironically, the man who was almost president joined forces, centered around land before Jefferson completed the Louisiana Purchase In 1807, one of his "partners" turned evidence against Burr to escape hanging, and Burr was arrested, tried for treason (in an alleged scheme to invade Mexico and set up a new nation in the West) and acquitted. Burr journeyed to New Orleans and entered into a conspiracy with U.S. Gen. James Wilkinson, although it is not clear what they conspired about. Wilkinson was actually in the pay of Spain at the time. This was about the time of great wars in Europe and the need for cash had France sell "the Louisiana Purchase" to the U.S. Speculation was that Burr intended either to establish an independent nation in the Southwest or to seize territory, now known as "Texas", for the same purpose in Spanish America. Burr secured financing from Harman Blennerhassett, of Blennerhassett Island in the Ohio River near present-day Parkersburg, West Virginia.. He set out from there in the fall of 1806 with about 60 well-armed men and headed downstream. The expedition aroused suspicion and Wilkinson, seeking to save his own skin, turned against Burr. He spread stories of Burr's intentions and sent dispatches to the government in Washington accusing Burr of treason. Burr was arrested and charged with of treason. Burr was arrested and charged with treason, but still had many friends in Washington and was acquitted in 1807. Born at Newark, NJ, he died at Staten Island, NY, Sept 14,1836. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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