 |
 |
 |
 |
 |
 |
 |
 |
|
|
|
About
the Company: Bank
of Blue Valley is a locally owned community bank with $600 million
in assets. We are one of the leaders in the Kansas City financial
community. Our bank offers true community banking with services, |
.jpg)
Monday,
July 12,,2004
Headlines---
Balboa
Capital---Alive and Well
Archives---July
10, 2000 Leasing News Goes
“On Line”
NorVergence
Up-Date--$100 Million
"Will
House Vote Snag SBA Revamp?"
Jurassic
Lessors Association Launches New Dallas Chapter
Huntington
Equip. Finance Small Business Leasing
Fastest
Growing Leasing Company Hires Joe Graziano
LEAF
names James V. Messina V/P Sales/Leasing.
GE
Reports 2nd Qt Earnings of $3.9 Billion with 11% Revenue
July 10th was our “On Line” four year anniversary for
We were an “occasional”
newsletter for ten years, growing by word of
mouth, incorporated,
chose an advisory board, then went
on line. It is our readers who give us the information,
and you
will see it hear
first before it hits the large newspapers, plus
information that
never does as it pertains specifically newsworthy
to the leasing industry
alone.
See “From our
Archives” below.
Kit Menkin, Editor/Publisher
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
Classified
Ads---Credit
“Thanks for the update.
You can remove my listing from the website.
Many thanks to you, for I received numerous opportunities from
the posting.
“Your sight has provided
me with important information over the years.
Keep up the great work. As
for words of advise... Just be prepared when opportunity comes knocking.
Like many of us, it may take several months, (sometimes over a year)
to find an good opportunity. Do
not let the good ones pass.”
Brian
McGivern
Credit
Credit: Atlanta, GA. VP Credit/Operations/Sr. Credit Officer. 15yrs exp. in equipment leasing. Strong financial analysis and management skills. Experience developing and maintaining profitable customer/vendor relationships.
Email: credops@msn.com
Credit: Atlanta,
GA.
Senior Credit Officer
in middle-market equip. finance, vendor, 3rd party, specialty, flow
credit to the fortune 1000. Team builder, originations capable, strong
work ethic, ability to multi-task.
Email: kyletrust@hotmail.com
Credit: Atlanta,
GA.
10 yrs experience
in
credit/collections/recovery/documentation
in the leasing industry. P&L responsibility, team builder &
strong portfolio mgnt skills.
email: mortimerga@adelphia.net
Credit: Boston
Ma.
Challenging position where my skills, professional experience, organization, leadership, strategic thinking, creativity, energy, passion, competitive nature will enable me to define opportunities and personal development.
Email: bernd.janet@verizon.net
Credit: Corona,
CA.
VP credit Consumer Credit prime/sub prime Auto lending/leasing/mortgages. 20+yrs exp. If you are looking for someone to affect the bottom line I am that person. Will relocate.
Email: amosca2000@yahoo.com
Credit: Danbury,
CT.
Skilled in team building,
management & training. Seasoned credit, portfolio and risk management
professional. Experienced
in developing, implementing
underwriting, portfolio management policies & procedures. email:
vgjmoro@aol.com
Credit/Documentation:
Fort Lee NJ
3 Years Experience. Looking in NJ/NY.
Email: angitravis@mail.com
Credit: Los
Angeles, CA
Over 15 years experience in Credit/Operations with Small Ticket and transactions up to $500,000.00. CLP, with excellent relationships with most major lenders.
Email: jonbh123@earthlink.net
Credit: Mill
Valley, CA
Senior corporate officer with financial services credit background. M and A, fund raising and workout expertise.
Email: nywb@aol.com
Credit: New
Jersey, NJ
Credit Analyst with
10+ years experience in small-ticket lending up to $500,000. Experience
with both vendor-direct and with brokers.
Email: b.leavy@worldnet.att.net
Credit: New
York, NY
3+ years of leasing credit / contracts experience. Currently in the leasing industry and moving to NY! Exp. working at both funding source and broker.
Email: lease4you@mail.com
Credit: New
York, NY.
V.P. Credit & Collections w/23 years exp.looking for a situation where I can utilize my varied & extensive knowledge of credit/ collections/risk-management & leasing.
Email: rcouzzi@yahoo.com
Credit: Phoenix,
AZ.
Credit/Leasing Manager- 8 years underwriting. Proven performer, strong negotiator and sales support. Worked with the best- Randy Schiell, Chuck Brazier, Jim Lahti. Contact: Elizabeth Rose (480)510-7434
Email: ravenfinance@aol.com
Credit: San Francisco, CA. 10+ years Credit Analyst experience underwriting for a direct lessor, regional bank and vendor leasing company. Have CLP and will make decisions
( won't rely on a FICO score for enlightenment.)
Email: pmtorres1@yahoo.com
Credit Manager:
Westlake, OH
7+ years Credit/Underwriting
experience Comp lit. Please email me for copy of job description at
mgallo@comfingrp.com
full listing of all classified ads at:
http://64.125.68.90/LeasingNews/JobPostings.htm
Bob
Gascon Passes Away
Read in this morning
Orange County Register's obituaries the following:
"Robert C. "Bob"
Gascon, age 52 a Sales Manager for Aetna Capital,
resident of Anaheim,
passed away Tuesday July 6. He
is survived by his parents, George and Gertrude Gascon, his sister and
her husband Josette and Antony Pettegrow. and a very special nephew
and friend, Warren Pettegrow. A Memorial gathering will be held between 1:00-
3:00 PM Sunday (July 11) at Bob's home, 900 N. Harbor Blvd, Anaheim."
We have been funding
deal with Aetna since the mid 80's.
Bob was their marketing force and had a great dry sense of humor. For the people who knew him and worked with
him, he will be greatly missed.
Thanks
Steve Reid, CLP
VP Marketing, Leasing
Division
Santa Barbara Bank
& Trust
2230 W. Chapman Ave
#200
Orange, Ca 92868
800-700-9858
714-938-0288 (fax)
email: reidst@sbbt.com
Economic
Events This Week
July
13
Tuesday
Balance of Trade:
May
Federal Budget: June
July
14
Wednesday
Retail Sales: June
July
15
Thursday
Inventory-Sales Ratio:
May
Producer Prices:
June
Industrial Production:
June
Capacity Utilization:
June
Weekly Jobless Claims
July
16
Friday
Consumer Price Index:
June
---------------------------------------------------------------------
Balboa
Capital---Alive and Well
Despite recent criticisms
being circulated on the gossip e-mails,
the new broker program
under Curt Lysne is doing very well.
Volume continues
to increase and up to 25 brokers are sending
in “good business.” Plans are to expand the network as new
channels of communication
are now in line with Patrick Byrne
100% “owner and operator.”
Divisions and department
heads are receiving more authority,
and the direct sales
department has taken the challenge to
increase business
as the broker division is gearing up to
improve its volume. In fact, Lynse has been holding back
signing up new brokers
as word is out not only about rates
but types of equipment,
partial funding, pre-funding, and a
whole new bag of
abilities as Balboa Capital has plenty of
their own money.
--------------------------------------------------------------------------
From
our Archives---July 10, 2000 Leasing
News Goes “On Line”
http://two.leasingnews.org/archives/July/7-10-00.htm
Leasing News is now
available on www.leasingnews.org
You will find a "Bulletin
Board" and "The List" plus a calendar, links, archives
and other features to follow.
Anyone can receive
a copy of Leasing News by e-mail just by requesting. We don't add anyone,
unless they specifically request (no spam ).
Here are the original
Editorial Advisory Members.
Bob Baker, Wildwood
Financial
Phil Dushay, Global
Leasing
Mike Graneri, Graneri
and Associates
Ken Greene, Attorney
Bob Rodi, LeaseNow
Bob Teichman, Teichman
& Associates
Andrew Thorn, Thalman
Finance
Rob Yohe, Yohe and
Associates
" I feel that
what you are proposing will be very useful to brokers and funders."
Steve Crane, Bank
of the West
" I have been following your newsletters and
really find them informative. As a matter of fact I look forward to
them. If you feel someone on the east coast could help, you can count
on me."
Phil Dushay, Global
Leasing
"I will help you in any way I can."
Andy Thorn, Thalman
Financial
" I'm for anything to improve the industry. I
would like to see all of us in the business, Brokers, Lessors, Funders
and everyone else in the industry get along better."
Roy Yohe, Lease Consultant
" I think your newsletter is an important to
the industry."
Bob Baker, Wildwood
Financial
" This may be an opportunity for people who are
either members of different associations or who are not affiliated with
any to come together to find a solution ( to fraud and unprofessional
conduct ). An industry-wide Code of Ethics is critical. "
Bob Teichman, Teichman
Financial Training
" I think that we may be able to do some things
that the associations cannot. I will always be on board for anything
that promotes our industry, raises standards and preserves our livelihood.
I also feel that this effort will have a lot of credibility because
there is no profit motivation."
Bob Rodi, LeaseNow
" I hope that I am able to make a positive contribution."
Ken Greene, Attorney
I have asked others
to join this group to help me with policy, strengthen the mission, and
give input to the direction of the web site. We have no plan for banners,
advertisements, and want to keep it strictly unbiased, free, and helpful
to our profession.
Leasing News Current
Advisory Board:
|
Leasing
News
|
|
|
Advisory
Board
|
|
| Bob Baker, CLP. | Wildwood Financial Group, Ellisville, Missouri |
| Edward Castagna | Nassau Asset Management, Roslyn Heights, NY. |
| Steve Crane | Bank of the West, Walnut Creek, CA. |
| Phil Dushay | Global Financial Services, Manhattan, NY. |
| Ken Greene, Esq. | Larkspur, California |
| Dan Janal | Great Teleseminars, Shorewood, Minnesota |
| Theresa M. Kabot, CLP | Kabot Commercial Leasing, Seattle, WA. |
| Robert S. Kieve | Empire Bradcasting, San Jose, CA. |
| Bruce Kropschot | Kropschot Financial Services, Vero Beach, FL. |
| Fred St. Laurent | Z Resource Group, Atlanta, GA. |
| Andrew Lea, M.A. | McCue Systems, Inc. Burlingame, CA. |
| Armon L. Mills, CPA | San Diego Business Journal, San Diego, CA. |
| Steve Reid, CLP | Santa Barbara Bank & Trust, Santa Barbara, CA. |
| Bob Teichman, CLP | Teichman Financial Training, Sausalito, CA. |
| Paul B. Weiss | ICON Securities, New York, N.Y./San Francisco, CA. |
| Ginny Young | Brava Capital, Orange, CA. |
|
Publisher/Editor
|
|
| Christopher "Kit" Menkin | |
-------------------------------------------------------------------------------
NorVergence
Up-Date--$100 Million
by Christopher Menkin
Leasing News presented
the Chapter 7 bankruptcy documents
in its last issue, stating Chapter 11 was next. Last week Bankruptcy
Court hearing in Newark Jersey their attorney Bruce Buechler said NorVergence
"is going to be a Chapter 11 case in a matter of days." He
said they were being pushed into full dissolution and not
re-organization due
to mounting pressure from creditors. He also told the judge the company
“... has fired "90-plus percent" of its staff and needs time
to reorganize.
NorVergence did acknowledge
in court owing $30 million, which does not include any contingent liability
they may have regarding leases they have discounted or sold to banks
and other financial institutions. Should
the servicing discontinue or telephone companies turn the lines off,
the banks and financial institutions also may have claims against NorVergence
which may reach into $100 million dollars. How it can survive without
the ability to lay off its leasing contracts to gullible third parties
is not known.
Meanwhile asset back
journals are reporting to their subscribers how it
really happened,
and what to look out for.
Here are three of the latest reports:
The first, from the
“New Jersey Star-Ledger:”
Judge Rosemary Gambardella
gave NorVergence until 10 a.m. Wednesday, when another hearing is scheduled,
to address how it will tackle mounting debts and pending Chapter 11
status.
Lawyers for Denver-based
Qwest, which is owed $15 million by NorVergence acknowledged receiving
$1.1 million from the company shortly before the hearing. But Qwest's
lawyer, Jack Zackin, said the telecom giant needed to be paid in full.
NorVergence's attorneys
and some of its other creditors argued that granting Qwest's motion
to end its agreement would doom NorVergence. It would also allow Qwest
to terminate service to thousands of NorVergence customers without warning.
In addition to Quest,
Sprint and T-Mobile are among the $30 millions that
NorVergence acknowledged
in court that it owes.
In addition to representatives
from some of NorVergence's creditors, approximately 20 former employees
came to yesterday's hearing. Dressed casually, a handful of the employees
complained about bounced and missing paychecks.
"I hear these
large companies throwing out large numbers out there," said Charles
Brown, a former employee. "I just want what is owed to me."
It was reported Peter
Salzano, NorVergence's chief executive, showed no emotion during the
hearing. As former employees spoke, Salzano sat stone-faced behind Buechler,
his hands crossed and his head cocked to the left.
He had no comment
after the proceedings.
Employees have been
making known their feelings on the New Jersey Channel 11
web site.
Qwest Communications
continues to seek its attempt to sever its ties with NorVergence. Had
the Denver-based company succeeded, many of the services NorVergence
provides would no longer be active, which would have resulted in lost
service for NorVergence's customers.
Judge Rosemary Gambardella
gave NorVergence until 10 a.m. this Wednesday, when another hearing
is scheduled, to address how it will tackle mounting debts and pending
Chapter 11 status.
Meanwhile, those
who have purchased leases from NorVergence have stated they will not
be buying any more contracts, leading NorVergence in a “catch 22” position
of not being able to generate new revenues, thus not being able to forestall
a Chapter 11 proceeding, which Leasing News predicted in the first reporting
of the story.
(please see remarks
from readers in our eMail, which we have been receiving similar ones
for almost two years. editor)
The Telecom Agents Association:
“Fax TAA Information
About Your Equipment Leasing Company Are you a Norvergence customer
wondering about the status of your equipment lease? TAA is assisting
several attorneys look into the validity of the leases in light of Norvergence's
financial challenges. Please fax to TAA at 909-494-4257 the identity
and contact information of your leasing company. Please include any
notes about anything that seems peculiar to you about how the lease
was transferred from Norvergence to the leasing company.”
To learn more, you
should join “free” the Telecom Agents Association.
They believe information they disseminate should go to members
and thus they avoid general liabilities for their opinions:
http://www.telecomagent.org/index.htm
The third: Asset-Backed Alert ( www.ABAAlert.com) gives their industry view
point,
and the story is
very interesting to read:
Telecom Firm’s Bankruptcy
Nixes Offering
A Brecksville, Ohio,
equipment lender indefinitely postponed its debut securitization last
week, after learning that a troubled client had tainted the collateral
pool.
Preferred Capital was about to float its Rule-144A offering when it
found out that Newark, N.J., telecommunications outfit NorVergence
was being forced into Chapter 11 bankruptcy protection by three creditors.
A third of the collateral for Preferred Capital’s deal consisted of
loans that it wrote to finance NorVergence then sold the equipment to
small-and mid-sized corporate customers.
Preferred Capital would have used proceeds from the securitization
to pay off a warehouse line form Huntington Bank.
Five-year-old NorVergence sold its equipment packages at discounted
prices – in hopes that it could drum enough business so that manufacturers
and telecommunications carriers would eventually drop their prices.
Ultimately, that belief turned out to be wrong. Over the past year,
the company became involved in lawsuits with more than a dozen creditors.
NorVergence’s troubles came to a head on June 30, when Popular Leasing,
ALFA Financial division OFC Capital and Partners Equity
Capital petitioned a New Jersey bankruptcy court to place it in
involuntary bankruptcy. NorVergence has 30 days to dispute the request.
Preferred Capital does not appeared to be involved in any of
the actions against NorVergence, which laid off most of its employees
last week.
Sources said it’s likely that other term securitizations and
commercial-paper conduit issues contain some loans to NorVergence and
its vendors and suppliers, although not in large enough quantities to
affect any deal’s credit-enhancement levels. All told, those credits
probably total less that $150 million. The volume and status of payments
owed to Preferred Capital could not be learned.
The cancellation of Preferred Capital’s deal comes at a time
when the market for equipment-related bonds is in the dumps, largely
because of the DVI Financial scandal. Lenders that rely on securitization
are responding by tightening their credit standards or fleeing the market
altogether, and investors aren’t showing much demand for the issues
that do make it to the market.
-------------------------------------------------------------------------------
Classified
Ads---Help Wanted
Account
Executive
|
About
the Company: Bank
of Blue Valley is a locally owned community bank with $600 million
in assets. We are one of the leaders in the Kansas City financial
community. Our bank offers true community banking with services, |
Business
Development Office
|
Business Development Officer,leasing exp.,min 3 yrs business & direct sales exp. Banking procedure knowledge helpful. Gilroy, CA location, serving four surrounding counties. E-mail valdezd@1stnational.com or see Career Opportunities www.pcbancorp.com About the Company: Pacific Capital Bancorp is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness and personalized attention of a local community bank. |
Marketing
Indirect Origination
 MARKETING INDIRECT ORIGINATION: New York. One of the largest ind. equip.lessors needs motivated, self-starter to purchase single investor leases from institutional investors; min.transaction $1 million; portfolio of primarily investment grade lessees/good "story credits". Min 3 yrs exp. sourcing/ originating leasing transactions, knowledge of credit and pricing. E-mail: jobposting1@leasingnews.org |
Sales
|
About the Company: www.odysseyequipfinance.com |
|
About
the Company: |
Sales: Established 20-year
full service lessor seeks sales professional in small or mid ticket
markets. Earn high commissions, with benefits.
Specialist
|
Port Leasing Sales Officer - Port of Long Beach:
conducts/oversees negotiations for leases, permits, property acquisition;
prepares lease proposals; negotiates prop. acquisition; neg. lease
agreements with new/existing tenants; develops financial info.
to analyze lease proposals. College degree expected. Contact:
Stuart Satow, CPS Executive Search 916-263-1401,
ssatow@cps.ca.gov
Recruitment brochure |
----------------------------------------------------------------------------
Letters---We
get Email
“I would like to
thank you for your help in getting my money back.
I don’t believe I would have been as successful without you.
“I would like to
mention that I have been contacted by 3 other “victims” of Union Capital! At least one of them did benefit from reading
leasing news and your article about them. I am still working on getting my $750. they decided that they earned!!!!
I have contacted the Better Business Bureau to file my complaint
and am waiting for a response.
“Thank you, Kit for
your help and support.”
Sincerely,
Kathy Douke
Precision Concrete
Pumping
--
“I have received
calls from other attorneys and from brokers. They are reading your paper and responding - I will share
everything with them.
“Enclosed is a depo
transcript from Darren Finestone, formerly with Crocker Capital.
People threatened over Crocker leases would want a copy.
http://www.two.leasingnews.org/loose_files/fineston.htm
“I think this may
be interesting as well as helpful to many people in the fight against
Wells. Please refer any parties interested to me with
the same contact information as last time.”
http://www.two.leasingnews.org/loose_files/Fax.pdf
Best regards,
Dale Washington
dalewashington58@hotmail.com
---
NorVergence---
“This will be an
interesting story from several fronts.
One will be the 2A ramifications and how hell-or-high-water the
leases really are. Robert Fine
made a lot of sales calls to lessors to find funding sources and explained
the program. (This isn't a derogatory comment about Fine).
He was up-front about the financing and how a lot of things were
wrapped in. While I was at *******l
we looked at the program during a EAEL-New England networking event
-- for maybe 3 minutes. It was
pretty clear the box wasn't worth the lease value and services were
part of the deal. If the savings didn't appear companies would
switch service providers and punt that 'lil black box. If all lessors understood that fact there might
be a hole through 2A protection and further, having knowledge of all
of that might impact whether the funding sources are really 3rd party
bona-fide purchasers for value or whether rights exist as the sources
likely understood what the bundles of financed assets were (a mysterious
black box with years of tel-com services wrapped in).
If a lessee proves this was merely financing to NorVergence with
the contracts as collateral...
“I suggested to our
attorneys to watch this unfold on Leasing News.”
( name with held
)
--
“I heard that Wells
Fargo Financial Leasing, CIT , US Bancorp, and US
Express Leasing all got burned on the NorVergence scandal. We turned them down, but they presented who
they had been using with numbers. They claimed to have over 10,000 customers.”
(Name With Held )
“NorVergence Capital,
LLC (NC) is a wholly owned subsidiary
of NorVergence, as stated in their
marketing material, to finance the NorVergence products. They
were private label contracts, that they warehoused and then assigned to a third-party at a later date.
“Qwest, along with
two other carriers, were pressing for payments, which they were not
receiving as evidenced by the shut-down in June.
The actual filing of the three creditors was not only to protect
their own interest but to stop Qwest from turning off their services. Qwest is not only owed a lot of money, but they claim they should
be participating in the income streams as they are keeping
the service running
while the creditors are collecting their lease payments.
“Whether Quest continues
the monthly service or does not, it appears the lessees are obligated
to make payments per the lease agreements assigned to creditors. The
real problem in this house of cards is that NorVergence made most of
its revenues not from selling telecom services, but from Bob Fine’s
sale of equipment leases to banks, leasing
and finance companies, as your readers have been trying to tell
you in the complaints
your published.”
( Name With Held )
---
MicroShop has been
a Norvergence customer since 4/29/03.
Since then:
1. our cell phones have been disconnected five times by AT&T
wireless because Norvergence wasn't paying the bills
2. without warning, Norvergence switched carriers on one of our phones
from AT&T wireless to T-Mobile - leaving my employee without a working
phone on a trip
3. we have had two collection agencies contact us to try to get bills
paid that were the responsibility of Norvergence
4. the leasing company is charging us insurance on the entire $16000
lease - even thought
the replacement cost of the "matrix box" (actually a WatchGuard
SOHO 6 router) is only $300. Most
would consider that to be insurance fraud.
Imagine insuring a $20,000 car for $1,000,000.
We have filed a complaint with the BBB, the NJ Board of Public Utilities,
and the NJ Attorney Generals Office.
We have also contacted CBS News in New York to do a "Shame
on You" feature. Anyone
in the NY/NJ/CT area that is interested in sharing your experience with
Norvergence, please contact me.
These are the facts. You
can make your decision accordingly, but I think the more you research
the company, the less likely you will be to sign a contract.
Name = MicroShop
Systems
Address = 104 Mine
Brook Rd
City = Bernardsville
State = NJ
Zipcode = 07924
Phone =
Fax =
Email
= dave@mshop.com
--
“Is it really true
that Orange County has a bad rap (see Genesis story 7/6/04)? Are all leasing companies in Orange County
bad? Our company has operated
in Orange County since 1983 and have never had a customer complaint
that was not resolved to the customer's satisfaction (perhaps because
we do not take commitment fees). I
have met many of my peers in Orange County who are also very reputable.
“Perhaps a sweeping
indictment of an entire region is not valid and unfair bad publicity
to those of us who strive for the highest ethical standards.”
(name with held )
(We didn’t say that,
readers are saying that, including vendors
who write they are
leery about doing business with any leasing
company in Orange
County. At one time, Florida
was getting
the bad rap, but
it looks like it has changed. editor )
---
Selling Up
“Our mission is to
help organizations of all sizes improve sales effectiveness. We provide
strategic sales processes, tools, sales training and management workshops
that drive performance through enhanced skills and behavioral change.
“Our clients include
Fortune 1000 companies as well as independent businesses representing
a wide range of industries including Banking and Financial Services,
Communications, Energy, Healthcare, Industrial and Chemical, Insurance,
Manufacturing and Technology.
“Your industry experience,
and our sales process and sales management expertise, can equal World
Class Sales for your organization.”
Steve Chriest
schriest@selling-up.com
(formerly of Signature
Leasing)
http://www.two.leasingnews.org/loose_files/pdf_july_journal.pdf
---
“Do you want to see where Leasing News
stands in the search engines, please go here:”
http://roquefort.di.unipi.it/comparison.html
Jeffrey Taylor
(Wow.
If any reader wants to know where their website pages appear
on search engines, this is a great program.
Leasing News Alerts and
Bulletin Board Complaint are in the top
five of most of the search
engines!!!
-------------------------------------------------------------------------------
"Will
House Vote Snag SBA Revamp?"
American
Banker Weekly Magazine
In a rejection of
Small Business Administration (SBA) leader Hector V. Barreto's budget
proposal, the full House voted last week to allocate an additional $79.1
million to the SBA budget.
The decision represents
a setback for Barreto and the Bush administration's plan to make the
SBA and its popular 7(a) loan program less dependent on congressional
funding and to run the agency more like a business. Since his appointment
as head of the agency three years ago, Barreto has streamlined SBA procedures
and centralized its operations. However, his attempts at lowering the
average 7(a) loan size, increasing lender fees, and cutting back on
local staff have met with opposition from some lawmakers and lenders
who say his plan would make the program less attractive to both lenders
and borrowers.
SBA loan guarantees
have risen to record numbers in recent years due to increasing demand
from women and minorities and growing interest in the new SBA Express
program, which now accounts for over half of all 7(a) loans.
In an attempt to meet this demand and provide loans to a greater
number of businesses, Barreto has lowered the average 7(a) loan size
from $167,000 in fiscal 2003 to $157,000 during the current fiscal year.
Barreto's proposal to lower the SBA's budget in the next fiscal year
and eliminate its annual credit subsidy was designed to make SBA funding
more consistent, but opponents have argued that by increasing fees for
lenders and borrowers the plan would have decreased interest in the
7(a) program. In addition, lenders are expressing their opposition to
Barreto's plan to cut expert staff from district offices.
**** announcement
**************************************
Jurassic Lessors Association Launches New Dallas Chapter -
Inaugural
meeting (cocktails) set for July 29th
Yes friends, you're
in the company of greatness when you stand in the presence of these
unsung (not to be confused with high strung) heroes of the equipment
leasing industry, the members of the JURASSIC LESSORS ASSOCIATION.
The Jurassic Lessors
Association
Greatness, Brilliance
& Genius Unequaled
Contact Us
http://www.lessors.com/JLA/dallas/home.html
JLA Profile
Atlanta Chapter
http://www.lessors.com/JLA/atlanta/home.html
Chicago Chapter
http://www.lessors.com/JLA/chicago/home.html
Dallas Chapter
http://www.lessors.com/JLA/dallas/home.html
About The Jurassic
Lessors Association
(Ju.ras.sic - Of,
belonging to, or designating the time and deposits
of the second period
of the Mesozoic era, characterized by the
existence of dinosaurs
and the appearance of primitive mammals)
OVERVIEW - Among
other more socially accepted endeavors, the Jurassic Lessors Association
(JLA) is dedicated to the pursuit of ego protection and enhancement
for those men and women (identified by the JLA Executive Committee)
who are single-handedly responsible (e.g., JLA members) for the equipment
leasing & finance industry, as we know it today. These "masters
of the universe" (again, JLA members) built and continue to manage
the leasing industry's phenomenal growth with greatness, brilliance
and genius. Proving no sacrifice (livers and/or marriages) to great,
JLA members have willingly spent physical, mental and emotional capital
(employer's expense accounts, etc.) enduring endless days/nights of
legendary "one on one" negotiations (golf, drinking, dancing,
dinning, etc.) while away from loved ones (wives/husbands, girl/boy
friends) often under deplorable working conditions (e.g., four star
hotels, private country clubs and dimly lit taverns).
Yes friends, you're
in the company of greatness when you stand in the presence of these
unsung (not to be confused with high strung) heroes of the equipment
leasing industry, the members of the JURASSIC LESSORS ASSOCIATION.
MISSION STATEMENT
- To enjoy the rewards (golf, drinking and story telling) of countless
years of networking (golf, drinking and story telling) with fellow professionals
(often referred to as those "competitive *#!@#" in the leasing
industry through fellowship (more golf, drinking and story telling)
with our brother and sister lessor/broker/packager/consultant/arrangers,
etc. ("Icons"), surviving inimitable employer suppression
of intelligence, while using exemplary skills in securing our lessor's
yield commensurate with lessee's risk (not to mention our astounding
ability to distinguish wonderfully aged liquor, and beautiful women/men
(pick one) at 2 am).
MEMBERSHIP - While
"Charter Membership" was only available to those persons having
attended the first JLA meeting in Atlanta, new applicants wishing to
join this prestigious group of necromancers (nec.ro.man.cy - The practice
of communicating with the spirits in order to predict the future) are
invited to submit their application via the appropriate "JLA Chapter"
link above. (For information about starting a JLA Chapter in your area,
Contact JLA.) Membership applications will be evaluated pursuant to
the following:
APPLICATION/LIBATION
FEE - Applicants are required to pay a bar tab in excess of $100 where
at least two slightly inebriated yet non-incarcerated (at the time of
application) JLA Chapter Members in good standing (or that can stand
good) are in attendance.
SPONSORSHIP - Verbal
sponsorship by at least one of the two JLA Chapter Members attesting,
in detail, as to applicant's past irreverent behavior, intolerance to
ice poisoning (bad beverages), exaggerated exploits with the opposite
sex (names, phone numbers and pictures of female participants will guarantee
applicant's immediate approval) and unquestionable commitment to the
JLA (e.g., can they pay the required application/libation fee?).
TENURE - Sworn testimony
by one JLA Chapter Member as to the number of years (decades) applicant
has served (suffered in ) our industry. Testimony may be documented
with a copy of applicant's baby picture (no male nudes please). Pictures
submitted in color will be grounds for automatic rejection (applicant
obviously to young) of applicant's application in which case the application/libation
fee will be immediately forfeited to the JLA Executive Committee.
(Any applicant caught
reading this without the benefit of reading glasses
will be automatically
disqualified and the application/libation fee forfeited.)
THE JURASSIC LESSORS
ASSOCIATION EXECUTIVE COMMITTEE
Chairman | John O.
Semon | Email - John@lessors.com
President | Mike
Shivers | Email - Mike@lessors.com
After over 30 years
in the equipment leasing business, John Semon and Mike Shivers were
discussing over cocktails one evening about how many people they knew
in the industry in the Atlanta area. The problem was that while both
knew the same names of leasing professionals, seldom had either actually
met most of these people face-to-face.
They decided to begin
hosting a monthly meeting over cocktails at a local tavern for leasing
professionals to gather and socialize. Great fun has been the results
as old friends now can get together on a regular schedule and at John's
and Mike's age, anything that is regular is good!
For information about
starting a JLA Chapter in your area, Contact Us.
Semon@lessors.com
Copyright 1998 –
JOS
**** Announcement
**************************************
#### Press Release
#############################
Huntington Equipment Finance Introduces Small Business Leasing Program,
Adds
Four Sales Executives
COLUMBUS, Ohio, -- Huntington
Equipment Finance, a
division of Huntington
National Bank, is introducing Small Business Leasing, a program providing
small business owners with an avenue to invest in the expansion of their
business through the leasing of capital equipment. The new program expands
upon Huntington's current program by serving the financing needs of
smaller businesses and organizations.
"To be able to compete successfully, small businesses must
have access to the most current equipment and technology," said
Rob Allanson, president of Huntington Equipment Finance. "But,
purchasing this equipment can be very expensive and can disrupt the
flow of working capital. Working with Huntington Equipment Finance,
companies can lease their equipment to conserve capital
that can then be
used more efficiently to grow their business."
To service its Small Business Leasing customers, Huntington Equipment
Finance is adding four sales executives to its team. Joel Arnold will
serve clients in Huntington's Central Ohio region, while Dale Lenzer,
Alicia Malinowski, and George Ziegler will dedicate their time to customers
in the Northern Ohio, East Michigan, and Southern Ohio/Kentucky regions
respectively.
"We believe in the importance of local decision making. We're
pleased to have added such a strong group of experienced professionals
to serve our customers," added Allanson.
Launched in late 2001, Huntington Equipment Finance has grown
its assets under management to more than $300 million. Huntington Equipment
Finance specializes in securing leasing options for customers allowing
them to grow their businesses with new equipment, while reducing the
cash flow restraints commonly associated with capital equipment and
expansion. Huntington Equipment Finance now provides equipment financing
packages to small business customers throughout Indiana, Kentucky, Michigan,
Ohio and West Virginia.
About Huntington Equipment Finance
Huntington Equipment Finance is a division of The Huntington National
Bank, the principal subsidiary of Huntington Bancshares Incorporated
(Nasdaq: HBAN), a $31 billion regional bank holding company headquartered
in Columbus, Ohio.
Through its affiliated companies, Huntington has more than 138
years of serving the financial needs of its customers. Huntington provides
innovative retail and commercial financial products and services through
more than 300 regional banking offices in Indiana, Kentucky, Michigan,
Ohio and West Virginia. Huntington also offers retail and commercial
financial services online at ttp://www.huntington.com ; through its
technologically advanced,
24-hour telephone
bank; and through its network of nearly 700 ATMs.
Selected financial service activities are also conducted in other
states including:
Dealer Sales offices
in Florida, Georgia, Tennessee, Pennsylvania and Arizona; Private Financial
Group offices in Florida; and Mortgage Banking offices in Florida, Maryland
and New Jersey. International banking services are made available through
the headquarters office in Columbus and additional offices located in
the Cayman Islands and Hong Kong.
SOURCE Huntington
National Bank
Web Site: http://www.huntington.com
### Press Release
##############################
Fastest
Growing Leasing Company Hires Joe Graziano
Wayne, NJ—Leasing
Partners Capital, Inc., the fastest growing leasing company in the U.S.,
has engaged a well known Sales Trainer and Lead Generation specialist
to help facilitate its growth.
Joe Graziano is training
and coaching our Database Managers on their Selling skills. In addition, he is developing our company's
e-newsletter and other lead generation vehicles. Joe likes to say, "I work with business owners who want a steady
flow of new leads and salespeople who want to double their income.” And he’s not kidding.
Joe is a former Dale Carnegie Course instructor, a professional member of the National Speakers Association and is Past President of the New York Metro Chapter of the National Speakers Association.