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Januray
21, 2003
Post time 7:25 a.m. PST |
Headlines---
Pictures
from the Past---1985-Spaceman Millerbis
Classified
---Jobs Wanted---Sales
--The
Hansons are Solicitating Broker Business by Mass E-Mail
New
Healthcare Equipment Leasing Report Shows Strong Industry
New
York, Connecticut and Rhode Island vicarious liability
laws
Leasing
News Website Changes---Archives/Calculators and more
Palmchip
Introduces Financing Solutions/Dimension Funding
The
2003 Lease Syndication Showcase-March 10th
Technology
sector turns back clock
Not just the Gruden Bowl/Super
showdown only part of intrigue
#### Denotes Press
Release
-----------------------------------------------------------------------------------------------
Pictures from the Past---1985—Spaceman Millerbis
“Program Chairman Ben Millerbis ( Pentech Leasing, San Jose,
CA) leading
‘Spaceship WAEL’ on its mission of exploring the frontiers
of leasing. Propelled
by the inspiring talk given by Opening Luncheon Speaker,
astronaut Jim Lovell, attendees explored the exciting
future of the industry.
They improved their marketing and management
skills through workshops given by recognized leaders;
they responded with enthusiasm to the debut of the
Funding Source Forum; they demonstrated both their
sports expertise on the courts and fairways, and their
financial skill at the casino tables. And they found
that only the boundaries of outer space could define
leasing’s limits.”
Western Association of Equipment Lessors Newsline, October,
1985
Classified ---Jobs Wanted---Sales
Sales:Scottsdale, AZ.
19+ years in middle-market-leasing. Concentrations in Medical/Manufacturing/IT&
General in multiple geographic territories. Well versed
in direct calling& closing efforts to C- Level&
subordinate management. email:bill_peter@msn.com
Sales:
Prairie Village, KS Have substantial deal flow and
database of broker referral sources. Generated and
closed over $22M LY. Seeking exclusive relationship
w/direct founder. email:fiergl@aol.com
Sales:
Philadelphia , PA Seeking an open opportunity to advance
in the automotive, commercial leasing & finance
industry......... email: alexe362002@yahoo.com
Sales:Austin,Texas
24yrs exp.in equip leasing sales, vendor/direct, leasing
high-tech to rolling stock. HP12C/17B. Small-Mid Ticket.
Seeking Texas territory which can be covered from
Austin home-base. email:GeorgeMinchew@sbcglobal.net
Sales:
Orange County, CA.
Skilled deal-closer at above-average rates. Entrepreneurial.
Accomplished lease-structurer specializing in transportation.
Exp. in direct/ captive & syndicator environments
servicing vendors, brokers, & end-users. email:originator@sbcglobal.net
Full list available at: http://65.209.205.32/LeasingNews/JobPostings.htm
-----------------------------------------------------------------------------------------
Alert---The Hansons are Solicit ting Broker Business by Mass
E-Mail
To: info@empireleasing.com; dan@e-capitallease.com;
droberts@diversifedlenders.com; jim@amtechleasing.com;
igreif@1stfinancialleasing.com; jjohnson@commlease.com;
kclune@clune.net; info@civiclease.com; martin@cfi-financial.com;
mike@cbc-group.com; gerickson@crnleasing.com; tpelatt@cap-dev.com;
bsgfin@msn.com; debbie@bfec.com; birchequipment@aol.com;
bbk@bbkfinancial.com; bthistle@banknorth.com; acsi@acsitx.com;
johns@bridgepoint.com; avon@avonlease.com; stommel@micron.net;
efiglioli@arcfin.com; info@amerilease.com; suttonfunding@yahoo.com;
jhamilton@alpineleasing.com; cindyw@goodnet.com;
darreng@alliancecap.com; alex@rt66.com; info@acleasing.com;
rich@bpfcpa.com; info@21stcenturyleasing.com
Cc: edlo99@aol.com; dbg@sierratel.com; kgoodman@dimensionfunding.com;
trozzini@cypress-financial.com; info@comfunding.com;
info@coastfinancial.com; mike@clearviewfinancial.com;
gsaulter@chaseindustries.com; daycraiga@cs.com;
info@capitalpartnersinc.com; info@cleasing.com; dana@bel-lease.com;
ginnyyoung@bravacapital.com; bob@gcs1.com; kkrebs@benficialcapital.com;
jallard@bvcl.com; llachance@bankers-capital.com; belt@feist.com;
prwarren@bigfoot.com; mark@amaweb.com; lisa@artrentandlease.com;
info@ampent.com; ricandersen@sierracities.com; ailco@ailco.com;
michael@alliancefinancing.com; fairbridge@mindspring.com;
dmonty@afsofca.com; actionbiz@aol.com; ely.tim@accentleasing.com;
independentlease@aol.com
Subject: New leasing company in San
Diego!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Sorry to bother
you, but I need your help and I think I might be
able to help you too:)
We are a new leasing company in Carlsbad, California and
have
over 27 years of experience in the business. The president
of our
company is Bill Hanson and we are specializing in the tough
to do deals!
We have funded Fair Isaac's as low as 450 and this included
companies
that are start-up's! All the transactions have to be 100%
collateralized! Example, if a truck driver wants a new $25,000
trailer.
He must have $25,000 in collateral (Title vehicles, property,
industrial
equipment, etc..) The rate factors that include your points
are as
follows
36 months-.053
Funding
takes less than a week!
42 months-.048
Their challenged or lack of credit does get a high rate BUT
it doesn't
stop them from getting their equipment and generating cash!
We
also have private investors that will fund the
bigger and more unique
transactions. We just funded a 2.3 million
dollar charter airplane. Please e-mail, fax, or call
me today. Call
1-888-350-0701 Fax
1-760-804-8849 Wishing you happiness in 2003 :)
-----
Leasing News makes no opinion on Alerts, but brings them
to the attention
of readers at the request of readers.
Bill Hanson is the former vice-president of Commercial Money
Center.
This is the address for the series of stories, and more can
be found be
doing a search in the archive section:
http://www.leasingnews.org/Conscious-Top%20Stories/CMC_stories.htm
If you are not familiar with the story, here is a re-cap,
from some of the
past issues regarding CMC:
Commercial Money Center, Escondido, California—Las Vegas,
Nevada 7/19/2002
Inside attorney:
“Sad fact is that it looks like they're (The CMC crew) are
going to get
away with it which I find most disappointing. I'm sure you're
aware
that they have BK'd all of the various companies and are
currently
protected by the automatic stay from the court.”
Several, in fact, are back in business, including Wayne Pirtle,
“Dr.” Ron Fisher leasing to chiropractors (perhaps
with his friend Stan Daniels and son , formerly of
SDI ), and both Bill and Ty Hansen have Conrad and
Associates (Bill, is in fact, Orange County Regional
Chairman for the
United Associations of Equipment Leasing).
Commercial Money Center Telephone Numbers
As Leasing News reported, we were not able to reach anyone
at the CMC
corporate office in Las Vegas, Nevada; however, an “anonymous”
reader sent us this:
CMC HAS MOVED INTO A LAW OFFICE DOWNTOWN LV 702-382-1714,
MOST BUSINESS IS
CONDUCTED THRU EZ AUTO 702-207-4444, TRY CONRAD ASSOCIATES
SAN DIEGO (888) 350- 0701
billh@cnaleasing.com
tyhanson@cnaleasing.com
( “anonymous” means it came via our website “contact “ that
if the person
does not give their name, we have no idea who it is from.
editor )
Here is the official address:
Commercial Money Center
101 Convention Center Drive, Suite 1225
Las Vegas, Nevada 702-894-9400
Capital Markets Corporation has the same address
and telephone number. Commercial Servicing Corporation
is also located at this address ( sorry, telephone number
not known ).
----
Leasing News understands that Conrad Associates is not legally
connected with CMC, but there is a relationship as
evidenced by this e-mail from Ty Hanson,
son of CMC vice-president and officer Bill Hanson:
“I am amazed at all the pot shots, half truths, and assumptions
that are being
made at Commercial Money Center.
“I don't mind assumptions
or allegations by
people, but if you are going to go out on a limb with YOUR
beliefs (NOT
FACTS) than at least have the backbone and sign your name.
I was an employee
at Commercial Money Center and by no means does that give
me a right to
defend or attack the company!
“There are maybe three people at Commercial Money Center
that know for sure if their business ethics were flawless.
Just like a personal relationship if you don't know
what went on behind closed doors, then you shouldn't
stand in judgment. But, after reading our processing
manager's comments, who wasn't any higher on the corporate
ladder than myself, I figured WHY NOT! I am going
to address two allegations.
“First, that Ron Fisher was sued for malpractice and doesn't
hold a medical
license in Florida.
“Two, that Commercial
Money Center is being sued for over
6 million dollars by insurance companies for fraudulent deals.
Ron had a
chiropractic practice in Florida with several doctors on
staff. ONE of the
doctors was sued for malpractice, which caused the whole
practice to be in
the suit. Ron was later dropped out of the suit! The only
reason he doesn't
have a medical license in Florida is because he stopped practicing
and moved
to California and started a leasing company.
“Two, Commercial Money Center is being sued by one of our
surety companies for over six million dollars. But
does anybody talk about the 600 MILLION dollar lawsuit
that Commercial Money Center has against the surety
company? I don't know for sure what went on with the
surety companies, Commercial Money Center, or the
investors. But, I do have more facts that most of
your readers.
“One, Commercial
money Center DID refund over 1.4 million dollars in
advance rentals.
“Two, Ron made sure all the employees at Commercial Money
Center were paid before he closed the Escondido office.
“Three, Ron is in
the process of filing a class action lawsuit for the
employees against the surety companies that refused
to honor their bond!
“Four, Ron has won
an injunction against a former disgruntled business
partner who enjoyed sending lies and falsehoods to
newspapers, banks, lessees, etc.... about Commercial
Money Center without signing his name!
“In closing, I don't
know if Commercial Money Center is flawless, but I
like to go with patterns and consistencies. Is it an insurance
company that
refused to pay when the claims were made on these tough to
do deals, or Ron
Fisher, a man that sent over a million dollars in advance
rentals to
insurance companies so deals could be funded.
“When these deals did not fund, he paid everybody back with
HIS own company bankroll.HMMMMMMMMM Insurance companies
that fight and don't pay claims or Ron Fisher, a man
that steps up to the plate and does the right thing!
Until Commercial Money Center's 600 million dollar
lawsuit is settled, I am standing by Ron Fisher. And
by the way, unlike most of your Monday quarterback
readers who love to put in their 2 cents.............I
WILL SIGN THIS LETTER! !”
Ty Hanson
A man with a backbone
tyh@cnaleasing.com
Commercial Money Center Exposed
---
“Ask Joe Bonanno’s Question: “ Are they a member of NAELB?”
Joseph Bonanno, Esq.,CLP, is the legal counsel for the National
Association of Equipment Leasing Brokers. It is his intention
that
if a “funder” is not a member of NAELB, a member should not
do business
with them. He states this because the association then has
no recourse
in “negotiating” matters.
The other day, Leasing News stated he should get a medal.
He responded:
“Thank you for your kind words of suggestion that I should
receive a ‘medal.’
“However, realize that the entire process involving CMC was
an NAELB matter.
“Neither myself nor the NAELB takes any delight in what occurred
with CMC and apparently you
are finding out about even more issues that can potentially
make the overall situation even more unfortunate.”
The actual announcement of the expulsion of Commercial Money
Center
came from its president, Mike Meacher, on November 19, 2001.
“Dear NAELB members:
“ The Board of Directors has unanimously voted to expel Commercial
Money Center ( 221 WestCrest Street, #200, Escondido,
California ) for membership in the National Association
of Equipment Lease Brokers based on the filings of
a complaint by a member for ethical violations. The action was taken in accordance with the
NAELB ethics procedures.
As always, the NAELB advised that members conduct
business with other members so that the ethics program
can benefit our members. “
Sincerely Mike Meacher NAELB President
In writing the story, Leasing News asked Mr. Bonanno for
a comment. He stated at the time President Meacher’s
statement was sufficient. We asked him “off the record,”
why did NAELB expel Bill Hanson, particularly since
he was a big support of the association, major financial
contributor, a major sponsor, and was very well liked
in the leasing business.
He said, “ If a company can’t return an advance rental, no
matter what
the circumstances are, including an expulsion form NAELB,
then something
more is wrong than just this one incident. We have other
complaints, but I can tell you,
not returning the advance rental, this is a red flag. They
don’t have the money. Something is really wrong here.
We need to notify our members not to do
business with this company.”
The Leasing Industry should have listened. It is more than
Commercial Money
Center is out of business. There appears to be fraud involved;
many lawsuits,
a Federal Bureau of Investigation inquiries, the advance
rentals that were to be returned, may be an illusion,
Leasing News knows many vendors have not been paid,
lessee money not returned, unwarranted liens filed,
and there is more. It appears the situation is going
to become even worse for all those involved.
American Motorist Insurance Company (Safeco) on March 26,
filed a $6,265,715 against all officers and Capital
Markets Corporation and Commercial Money Center regarding
deposits and payments on their bond. This is perhaps
the first of many.
Part of this suit includes leases for Kiosks, reportedly
never delivered, never existed, and the vendor who
was to build these allegedly was only paid fifty percent,
so he reportedly never completed nor delivered the
Kiosks, but the partnership with some officers of
Capital Markets Corporation testified in leasing contacts
they were “accepted” and payments were being made
on the lease. Money for the payments allegedly came
from CMC.
One of the signers of this transaction, has gone to the Federal
Bureau of Investigation in Florida, it is reported,
to “tell all” with the hopes of a reduced sentence,
very
similar to the Enron Auditor plea .
Dun and Bradstreet states the company started in 1998. The
chief officer is Wayne Pritle.
Amwest Surety Insurance Company, San Clemente, California,
is listed as a secured party on many UCC’s. Leasing
News spoke with them and they told us Commercial Money
Center closed their doors “...for a lot of problems,
and we can’t go into them at this time.” We were told
they were able to negotiate insurance for transactions,
but due to all the investigations, did not want to
discuss
this further.
Other officers of this company are Mark Fisher, Tom Matthews,
Brian McMichael, Bill Hanson, Sterling Pirtle, and
Ronald A. Fisher.
D&B states that “Capital Markets was started in 1997”
and operated as a
holding company ( Commercial Money Center.). The Nevada Charter
shows officers as Wayne Pirtle and Ronald A. Fisher.
“On January 16, 2001, Dun & Bradstreet records show that
Ronald A. Fisher is listed as an officer in Ronald
A. Fisher, DUNS #92-675-9457, which filed a voluntary
Chapter 7 bankruptcy on May 10,1996. Ronald Fisher is also listed as an
officer of Care-Med Centers, Inc. Pompano Beach, Fl.
Duns #18-296-5591, which was reported to have discontinued
operations in 1991 leaving unpaid debts.
A highly reliable source informs Leasing News that Fisher
was a Chiropractor,
who lost his license due to Medicare and other “malfeasance.”
Leasing News
could not find an active license in Florida or California
for Ronald Fisher,
although it is know he prefers to be called Dr. Ronald Fisher.
On January 18, 2001, Dun & Bradstreet records show “...Sterling
Pirtle is listed as an officer in North Bay Mortgage,
Ltd., Englewood, CO. DUNS #80-475-6427, which filed
a voluntary Chapter 7 Bankruptcy on February 13,1995.
On January 18, 2001, Dun & Bradstreet “records show that
Mark Fisher is listed as an officer in CMC Lease In.,
Escondido, CA, DUNS #17-409-7709, which was also laced
on higher-risk status.
On January 12, 2001, Andrew J. Alderete, the CPA for both
Capital Markets Corporation and Commercial Money Center,
indicated that he prepares an audited, combined financial
statement for those two companies....on January 12,2001,
a check with the New Mexico Public Accountancy Board
revealed Andrew J. Alderete is being investigated
for “audit competency” specific details regarding the investigation
were not available.
Dun & Bradstreet states Commercial Money Center, Inc.
(subsidiary of Capital Markets Corporation, Las Vegas,
Nevada” started 1997. According to the many
Uniform Commercial Credit filings, the assigned are Midam
Bank, Toledo, Ohio,
Privident Bank, Cleveland, Ohio, Huntington National Bank,
Cleveland, Ohio, Second National Bank of Warren, Solon,
Ohio. No major banks seem to have been involved. The
relationship of the banks is being investigated.
The officers of both corporations are the same. Ronald Fisher
is not the president.
states:
“Welcome to Commercial Money Center Inc. Whether you are
a broker, vendor, business professional (attorney,
accountant, or other professional), business owner
or manager with tough credit issues and looking for
equipment leasing solutions...the Commercial Money
Center is the place to be.”
Their website proclaims:
“We are full service leasing company specializing in doing
the tough credit transaction...discharged bankruptcies,
paid tax liens/judgments and slow pays within policy
are components of our leasing products. We have expanded
our scope to include a limited tax lien and judgment
payoff sale & leaseback product that could have
many useful applications for businesses working earnestly
to solve their credit issues.
“We ask that you take a moment and sign-on with us to learn
more about the Commercial Money Center and the benefits
of our leasing programs for your business and for
your client's business.
“Application Only Lease
“This product is designed for quickly processing transactions
$75,000 and under that have certain credit barriers
that are acceptable to the Commercial Money Center,
Inc. Personal credit reports and guarantees are required
for all shareholders/principals of each lessee. Co-signers
who are not owners and not involved with the lessee
business will not be considered in our credit decision.
Spouses are required to co-sign in the following states:
Louisiana, Texas, New Mexico, Arizona, California,
Washington, Idaho, Nevada, and Wisconsin.
“The Commercial Money Center Inc. utilize the following scoring
elements in our credit decision process:*
Fair Isaac Score as low as 500
Revolving Availability
Current Account Status
Real Estate Ownership
Time in Business - minimum 12 calendar months
Average bank balance equal to 2 times lease payment over
the last 6 months
Gross sales & Net Income
Dun & Bradstreet Score
Bankruptcies are deducted
Tax Liens are deducted (See our Tax-lien payoff product)
Civil Judgments are deducted
Package Requirements:
Transactions equal to $10,000 to $75,000
Lease Application completed with gross and net income
Last 6 months of bank statements
Equipment description, Cost, Vendor name & Address &
Phone & Contact
Letter of explanation for any account shown as currently
past due on credit reports
Sale-Lease backs must have letter of explanation indicating
use of proceeds
Commercial Money Center hired Dennis Doyon, formerly of Colonial
Pacific
Leasing, to solicit business. Doyon previously worked for
Total Funding, a dot.com
super broker looking to have brokers submit vendor business
and direct business
through their internet connection.
Leading the fray was Bill Hanson, who learned the leasing
business while
working for Ron Wagner, who went out on his own . Hanson
is now self-employed
as a leasing broker, as reported earlier by Leasing News.
January 10, 2002, Bill Hanson, Vice-President and Director
of Marketing
states the company will return all “Advance Rentals.” There
are stipulations.
In the “Meet the Leasing News Maker,” he states:
“Is CMC currently not funding transactions and effectively
out of business until surety issues are resolved?
“
[Bill Hanson ANSWERS]
“Out of business is a strong word, we are far from out of
business we are still accepting applications and intend
on processing them and funding them
We are returning everyone's advance rentals “
>> INTERVIEW
[SUBMITTED QUESTION]
“ So you are still accepting applications? “
[Bill Hanson ANSWERS]
“YES, please support us and we will support the brokers.”
“ Everyone talks about CMC being the last resort, what does
the credit look like and roughly what would be the
rate “
[Bill Hanson ANSWERS]
“500 fair isaac..closed BK....several NSF's..... released
tax liens and judgments.........we have a rate factor
...like renting an apartment .03630 for 64 months…
we only have 64 months...we are trying to get our
shorter leases back “
“It takes 5 to 6 weeks because we sell the transactions off
in pools of 5 to 10 million and this is after all
documents are correct “
: “What about all the vendors who have delivered equipment
6 months ago? “
[Bill Hanson ANSWERS]
“Good question, we have not given up on being able to fund
these transactions and we feel most vendors will be
paid We are refunding the lessees advance rentals,
but still trying to move forward and fund them as
soon as possible”
] “Approximately how many advance rentals will you be returning?
“
[Bill Hanson ANSWERS]
“All of them “
[SUBMITTED QUESTION]
“Will you fax copy of lessee letter to broker? “
[Bill Hanson ANSWERS]
“We are working on a letter for the broker and the vendor!
We want to keep everybody working together! That's
what America's all about “
“Since I was late.............is there even a "realistic"
time frame for the deals that have been in the funding
process for several months? “
[Bill Hanson ANSWERS]
“To fund? 30-60 days...to get their money back? 2 to 10 days
“
>> INTERVIEW
[SUBMITTED QUESTION]
“: Do you have any suggestions as to where to place some
of these deals? “
[Bill Hanson ANSWERS]
“Contact me and I will be more than happy in trying to help...1-800-856-0907
“
>> INTERVIEW
“What are the odds of you being able to straighten everything
out??? “
[Bill Hanson ANSWERS]
“Excellent “
---