March 10,2003

 

Headlines---

 

Classified Ads---Jobs Wanted-Sales Managers

    Economic Events This Week

        Venserve/SaleStream Capital----Alive and Well

            Nevada Attorney General Closes The Funding Tree

                Webleasing---Vision Commerce

                    We Get Letters---

                Lessors.com Complaint

            Hal Richters Has Passed Away

        Edwin C. Siegel, Ltd--advertisement-

    Alexa Ranks Leasing Association Web Sites

SBA Program Expands to Include Credit Unions

    News Briefs---

        Sports Briefs---

 

                ### Denotes Press Release

 

 

 

Pictures from the Past----1998---Coston

 

 

“James E. Coston is chairman of Coston & Lichtman, a Chicago and Florida-based national law firm which represent lessors, funding sources, and brokers in all aspects of equipment leasing law. Coston has served as Illinois Regional Chair, Legal Line editor, Legal committee Chair and Legal Workshop Chair, and is a current member of UAEL’s Board of Directors.”

UAEL Newsline, 1998

 

 [Headlines]

--------------------------------------------------------------------------------------------

 

Classified Ads---Jobs Wanted—Sales Managers

 

    Sales Manager: Seattle, WA

Senior level sales professional w/ (20) plus experience in mid market financing & leasing. The last (8) plus years being self employed in middle market brokerage. Email:markhenley@qwest.net

 

    Sales Manager: Atlanta, GA

Professional. finance mgr. w/formal credit ed./ reg. vp/ secured/unsecured commercial loans/ direct end user network/equip. leasing/ structuring small,mid,big ticket transactions. 10+ years NE & SE. Have vendor servicing w/ existing and active network of accounts will bring with me. Email:AlanAustin2000@msn.com

 

    Sales Manager: Atlanta, GA

30 years in transportation Finance with strong management/ sales background. Represented company on national & region markets. Started two successful operations- produce profits and growth. Email:pml@mindspring.com

 

    Sales Manager: ATLANTA, GA. 30+ Yrs exp. primarily in small ticket. All phases, from owning own company to starting captive for major telecommunications company. Shirt sleeve, personal hands on approach. email:ELITECRUISE@MSN.COM

 

full list: http://65.209.205.32/LeasingNews/JobPostings.htm

 

These ads are free. If you have a colleague out of work, tell him about

our ads because we have found people jobs. We have testimonials.

We also list all the job sites on line for our industry.

Help Wanted ads are paid by the advertiser.

 

www.adams-inc.com

www.affinitysearch.com

www.bajobs.com

www.careerbank.com

www.careerpath.com

www.craigslist.org (available in many cities now, use scroll feature)

www.elaonline.com

www.goldenparachute.com

www.Headhunter.net

www.hotjobs.com

www.insidevcjobs.com Venture County, CA. Newspaper

www.jobs.net

www.latimes.com

www.leasingtoday.com

www.lessors.com

www.MarketingJobs.com

www.monitordaily.com

www.positionfiller.com

www.Postonce.com

www.RecruiterConnection.com

www.resumeblaster.com

www.vetjobs.com

www.worktree.com

 

[Headlines]

 

 

Economic Events This Week

 

 

    March 10

MONDAY

nada except a lot of crying

 

    March 11

TUESDAY

ditto

 

    March 12

WEDNESDAY

Balance of Trade: January

 

    March 13

THURSDAY

Retail Sales: February

Sales of Leading Retailers: February

Weekly Jobless Claims

 

    March 14

FRIDAY

Inventory-Sales Ratio: January

Producer Prices: February

Industrial Production: February

Capacity Utilization: February

[Headlines]

-------------------------------------------------------------------------------------

 

Venserve/SaleStream Capital----Alive and Well

 

“Your news of our death is premature. There is no bankruptcy filing. We are

alive and well!

 

“To update you, Warburg Pincus is selling it's interest in SaleStream Capital

to Texas Equity Holdings (TEH, LLC) a company owned and operated by

Lighthouse Investments. There has been a large injection of capital, around

$3M I hear, to promote the vendor driven business model that the company was

originally structured to support. There will be no more B2C activity.

 

“I have been directed to hire an additional 5-8 salespeople in the next 30

days to ramp things up. This will create a need for new office space shortly

but we will be staying in the area. I will notify you when this is official.

 

“The Venserv name, email and contact info was changed almost a year ago to

SaleStream Capital. The new investors are currently redoing the entire

website and it will re-appear in a format more to their liking. As the

point man, I can be contacted by phone 949-768-4236 ext. 236, fax

949-450-0827 or email twatson@salestreamcapital.com.

 

“Please contact me at anytime and I will be glad to answer any questions you

may have. Thanks.

 

“P.S. I did leave you a voice message on Wednesday.”

 

Tony Watson

Vice President Business Development

SaleStream Capital Corporation

Voice 949-768-4236 Ext. 236

Fax: 949-450-0827

(Sorry, didn’t get the voice mail. E-mail is the best way to get to me, or

via the webs site, by e-mail or “Kit Menkin Live.” Most of the voice

mail I get at Leasing News are “telemarketers,” so perhaps I confused

you with one of them. I see my main problem in trying to contact

Venserve rather than SaleStream capital. We wish you the best

in your endeavors. Editor)

[Headlines]

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ALERT:

 

THE FUNDING TREE aka: LEGACY LEASING

Is CLOSED!! Seized by the Nevada Attorney General's Office!

 

 

I worked for Legacy Leasing from August 1, 2002 - January 23, 2003. I walked out when I realized they were never going to fund! I felt ill for what I had done to unsuspecting people. They would give us a date to give to our clients then when that date came and went, they would say "I never told you an exact date, but it is only going to be one more month"!

 

If I can help in anyway, please feel free to contact me:

hzleyz4ever@msn.com

 

! Yes, you may use my name.

Melissa Nelson was in the office when it happened. I gave her your email and also ask if I could give you hers. She said yes. She is calling the Nevada Attorney General's Office to see what she can and cannot do. Her email is:

desrtrose32@hotmail.com

 

If you need anything else, let me know. I really want to help!! I have contacted Rene as well and let her know everything I know. I have an email on Kendra, Bruce and Eileen

 

----

 

 

Subject : Legacy Leasing/The Funding Tree

Name : Melissa Nelson

E-Mail :Melissa Nelson

Website :

Message : I would like to talk to someone about Legacy Leasing. I am a

former employee and have read the articles about it. I'd like to know

what I can do to help the people I've ended up hurting by working there

and to see that this company doesn’t reopen somewhere else to do the same

thing. Could you let me know who to speak to?

Thank you,

Melissa

 

Leasing News has been following this story for almost two years:

 

http://www.leasingnews.org/Conscious-Top%20Stories/fundingTree_stories.htm

 

 [Headlines]

 

--- --------------------------------------------------------------------------------

 

Webleasing---Vision Commerce

 

I noticed you have updated your e-lease section on the web site.

Here is some updated information for Vision Commerce. It can also be used

in the "General Leasing Software listing".

 

http://www.leasingnews.org/elease.htm

 

Thank you in advance for including us in your informative newsletter

and all your hard work at keeping the industry informed.

 

Linda Lundergan

Vision Commerce, Inc.

 

Company:

Vision Commerce, Inc.

web site is www.visioncommerce.com

 

CEO: Steve Lundergan

 

Employees: 13

 

Number of Clients/Users:

over 2700 users

500 Companies

45 Subscribers

 

Major Clients:

Hitachi Credit America

All Points Capital

Firerock Capital

EquiCapital

Thalman Financial Services

BSBLeasing/Procure Financial Services

 

Description of Services: Vision Commerce delivers unparalleled

front-end e-commerce solutions to the Equipment Leasing and Finance

Industries.

Vision Commerce provides a front-end solution for proposal delivery,

processing credit applications, status reporting and documentation via the

Internet. We offer a suite of technology solutions. Vision Commerce delivers

its lease origination and marketing system through an Application Service

Provider (ASP) model, hosted solution or as an in-house solution. The ASP

offering allows us to provide rapid and economical solutions to Subscribers.

Vision Commerce has all the technical capabilities to securely support

thousands of simultaneous users processing quotes and applications through

the Internet. Software enhancements are applied regularly to the ASP

solution at no additional cost to Subscribers.

Vision provides typical origination, workflow, decisioning, and

documentation capabilities. Our product is differentiated from the rest by

its marketing and co-branding capabilities. Vision Commerce hosts hundreds

of private-label or custom program leasing sites supporting more than 2000

users. With Vision, our subscribers can quickly and economically deploy

solutions that meet the individual requirements of vendors, manufacturers,

distributors, brokers, funding sources, and partners. We understand that

each relationship is different, and we have constructed our product to adapt

to changing business rules.

Vision is a single solution that allows internal staff to

collaboratively originate, score, price, and document in one integrated

platform.

Developed using the Microsoft .NET framework, Vision showcases the

versatility of the latest Internet development tools. This industry leading

technology is a secure and reliable solution now and a robust foundation for

enhancements planned to extend support to the leasing and finance

industries.

 

Recent Enhancements:

 

In February 2003, Vision Commerce, Inc. released its Vision

Framework. The new framework supports the ASP, Hosted and In-House solutions

all with the same degree of flexibility, scalability and configurability.

 

 

Linda Lundergan

Vision Commerce, Inc.

866-707-9929

636-669-1400

linda@visioncommerce.com

 

 

(Thank you. We will add this information. The name of the section has been changed to Webleasing. My good friend Tom Williams called to say he was

concerned about the name “eLease” as that was the name of his website. Although we have had this name for almost three years on our tool bar,

he was concerned that it could be misconstrued, so we changed it.

 

When we started this section we had a San Jose State College intern as one

of his projects contact all the web related leasing companies. We got little

information. No one wanted to cooperate. So to receive an e-mail from

Linda Lundergan is very helpful. Thank you. Editor )

[Headlines]

 

----------------------------------

 

We Get Letters---

 

Hollywood Enquirer??

 

Your Leasing News is starting to read more like The Hollywood Enquirer.

The personal affairs, comments and concerns amid leasing personnel and

companies, really does not make for interesting reading. Nobody really

cares.

 

I would like to suggest you start an "Open Column" with a separate link

where involved daily readers like myself do not have to be subjected to the

daily dim-witted statements, childish finger pointing, frivolous lawsuits

and the never-ending power struggle over who did, wrote, or was the first to

say or do, whatever. These comments could be posted, updated and replied to

in an "Instant Messaging" format. (Now that would make some good bathroom

reading!)

 

As for the "front page format" - report the positive, the changes, the

success stories and the news that actually has an effect on the operations

of legitimate American leasing companies.

 

As for you and the job that you're doing... Quote: "Press on. Nothing in the

world can take the place of persistence." - Ray A. Kroc

 

Evan Barker

Evan Barker <EBarker@AllianceFunds.com>

 

If you were on our up-grade program, you would just hit the headline

and skip the stories you don't want to read.

 

And note we have made our “other news” into briefs, where if you

are interested, you click on the headline and go to the original story.

 

We also changed the concept with the “news briefs” and “sports briefs.”

There are more pictures and graphs. There is also “Kit Menkin Live.”

Plus you can direct access the website without opening your browser.

 

So thank you for letting me give this plug.

 

And I can tell you if I didn't print Haas and Goodman criticism,

they would be talking about it at every conference that Leasing

News is "not fair and accurate." And they would be correct, in

my opinion.

 

http://www.leasingnews.org/#bob

 

 

Not that we print everything, but I think if they had the misconception about Bob Teichman, perhaps others did too---and it is best to clear the air. They

had the right to be heard. Whether you wanted to listen, that

was your choice as the reader. Skip the story if it is "not important"

to you.

 

What you don't like, someone else may. For instance, did you know

the most feedback I get are on "sports briefs?" I don’t print them

because they are not about leasing.

 

You are also missing "Day in American History," now only available in the new

version. Except for the typo’s, almost 100% of the feedback are on "sports" too

 

So, if you were on the “up-grade,” you can skip the stories that do not

interest you. Editor

[Headlines]

 

-----------------

 

Bright Spots---

 

There are some bright spots even in this economy. Mortgage

refinance is certainly one of them.

 

I received a 3 year fixed at 3.75% with a float after 3 years at 250 over libor at 1st

Nationwide.

 

No points but about $2,000.00 in closing costs. It was a convention loan with a 30 year amortization. I am saving about $400.00 per month in interest charges. 6 month Libor is about 1.31%

 

Best Regards,

 

Brian Carey

The CIT Group

6835 Almaden Road

San Jose, Ca. 95120

Phone: 408/997-2456

Fax: 408/927-8069

E-mail: Brian.Carey@CIT.com

 

(I bet you paid a point. My son-in-law got a 4.1 five year

fixed and floats after five years with one point up front. Saves him $850

from the last time he financed, and $1250 from when he originally bought

the house two years and a half years ago. That is per month. Editor)

 

[Headlines]

--------------------------------------------------------------------------------------------

 

Lessors.com Complaint

 

“I’m mad as hell. I was "invited" for $595.00, then when I missed the deadline I went on the waiting list, got re-invited at $995.00! To tell you the truth they never really said what the conference was about.”

 

Name With Held

 

2003 Lease Syndication Showcase

Matching Buyers With Sellers In The

Commercial & Municipal Syndication Markets

 

We received three complaints. The Lessors.com conference in Atlanta is taking place today. We hope to have a report from Allen Zeppenfeld, and perhaps

some pictures from Fred St. Laurent. We’ll try to give you a good report.

 

It was no publicity gimmick for the waiting list. John Semon wanted to limit the attendance. (see his mission statement below.)

 

He told us he did not like it being at 65 as he wanted it smaller so people from the

“sell desk” could talk directly with those from the “buy desk.” It was for

the syndication sector. Everyone invited was to bring 100 printed copies of

their company. They would be divided into groups. He wanted to keep

it small.

 

He did expand the list and then had to create three general sessions where

those attending could stand in front and speak fifteen minutes about their company. It is about “buyers and sellers. “ He wanted everyone who

was attending to be a “player.”

 

This is lessors.com “mission” from their web site:

 

“Smaller is better...

 

“We keep our events small to ensure you have the opportunity to meet everyone and everyone has the opportunity to meet you! Fewer than half of the total number of industry professionals requesting admittance to our events receive invitation, but our members always receive priority registration access.

 

“Invitation Only Policy

 

“Traditionally hosted from the beautiful Ritz-Carlton, Buckhead hotel in Atlanta, Lessors Network invitation only events have perfected the art of networking hospitality, refined to embrace a standard that today's senior business executives find particularly appealing. While each event embodies an individual spirit and theme, they also reflect the Lessors Network's signature style of elegance using a professionally intimate conference culture. (Restricted attendance ensures enhanced networking benefits for an exclusive group of invitees.)

 

“Whether you represent a company that leases equipment or provides products and services to companies that do, the Lessors Network can enhance your networks. Membership in the Lessors Network is available for individuals rather than companies.”

 

The Lessors.com August conference is larger, but he also limits the size there. While many conferences may have “early bird” or longer periods to register,

he wants attendees who are serious. No golf. He does have a local

Atlanta social group, but this was “all work.”

 

By the way, John Semon postponed his third heart operation until the day after the conference. He spoke about it as if it was a routine, and joked about the stress in

putting on this conference. editor.

 

Here is a partial list of the participants:

 

http://www.lessors.com/Events-2003/Syndication/participants.html

[Headlines]

--------------------------------------------------------------------------------------------

 

Hal Richters Has Passed Away

 

It is with great sadness that I must report the death of Hal Richters, the

founder and former President of Accord Leasing Group, Covington, Ohio. Hal

was a personal friend and an excellent representative of the leasing

industry.

 

Hal started Accord Leasing Group in 1991 in the basement of his

house with very little knowledge of the industry. Hal was a tireless worker

with the highest integrity, and a person with a desire to succeed. Over the

next ten years, these ingredients propelled him from the basement of their

home, to their existing store front office with a staff of over twenty

people-quite a success story.

 

Anyone who knew Hal realizes what a loss this

was to his family, and those in his second family at Accord Leasing Group.

 

Fortunately, his partners Doug Richters (son), and Darryl Sandri have worked

together in building the business and will carry on in Hal's absence.

 

Hal will be missed but many of his ideas and visions will be carried out in

their capable hands.

 

I know we all wish them the best under difficult

circumstances.

 

Sincerely,

 

Jerry Bishop, SVP

jerry@firstbankrichmond.com

FirstBankRichmond, DBA

[Headlines]

 

--------------------------------------------------------------------------------------------

--ADVERTISEMENT--

 

Edwin C. Siegel, Ltd

3400 Dundee Road, Suite 180

Northbrook, Il 60062

http://www.lease-management.com/

 

Are you drowning in the hassles of your lease portfolio?

 

Call Nancy Geary, CPA, CLP, Jay Dahl, CPA, CLP

or Shari Lipski, CLP at 1-800-826-7-70, visit our website

at http://www.lease-management.com/

or come visit us at:

 

NAELB—March 20-23rd-Oak Brook, Illinois

EAEL---April 3rd-6th-Washington,DC

ELA---April 9th-10th, Chicago, Illinois

UAEL---May 1st—4th, Rancho Mirage, CA

 

 

 

At their website, you can not only subscribe to their accounting-business

newsletter designed for the leasing industry but get:

 

Business Tip of the Month

http://www.planningtips.com/Planning_Tips.asp?Co_ID=16822&Tip_ID=6802

 

Financial Tip of the Month
http://www.planningtips.com/Planning_Tips.asp?Co_ID=16822&Tip_ID=6803 onth

 

Tax Tip of the Week http://www.planningtips.com/Planning_Tips.asp?Co_ID=16822&Tip_ID=6801


Newsletter

http://www.npi-opus.com/web/newsletter.cfm?ord=91885

 

http://www.lease-management.com/

 

--ADVERTISEMENT---

[Headlines]

 

--------------------------------------------------------------------------------------------

 

Alexa Ranks Leasing Association Web Sites

 

 

3/6/03
2/11/03
WEBSITE NAME
59,625
57,762
www.aba.com American Bankers Association
63,262
61,776
www.leasingnews.org   Leasing News
74,064
73,495
www.monitordaily.com  Monitor Daily
97,786
93,624
www.elaonline.com Equipment Leasing Association
135,112
125,104
www.nacha.org The Electronic Payments Association
246,559
254,127
www.leasingtoday.com Leasing Today
352,882
358,127
www.us-banker.com  U.S.Banker
357,020
341,070
www.cfa.com  Commercial Finance Association
358,800
311,876
www.uael.org  United Association of Equipment Leasing
350,682
322,352
www.executivecaliber.ws  Executive Caliber-Jeffrey Taylor
402,917
341,056
www.naelb.org  National Assoc. of Equipment Leasing Brokers
427,185
706,894
www.ibaa.org Independent Community Bankers of America
525,377
NO DATA
www.efj.com Equipment Financial Journal
579,238
679,639
www.pblaw.com/newsletters/bln/  Business Leasing News
699,797
605,575
www.leasefoundation.org  Equip. Leasing & Finance Foundation
1,014,620
928,023
www.clpfoundation.org   CLP Foundation
1,050,813
831,875
www.eael.org Eastern Association of Equipment Leasing
1,094,027
1,315,615
www.aglf.org  Association of Government Leasing and Financing
1,320,150
1,290,921
www.nvla.org National Vehicle Leasing Association
2,683,712
2,649,974
www.nationalfunding.org The National Funding Association
3,428,336
1,839,282
www.iicl.org  Institute of International Container Lessors
No Data
3,503,351
www.mael.org Mid-America Association of  Equipment Lessors
No Data
3,827,903
www.leaselawyer.com  Lease Lawyer
No Data
4,094,291
www.elessors.com  eLessors Networking Association
No Data
NO DATA
www.1stBusinessDay.com BizWiz Daily

 

These comparison are compiled by Leasing News using Alexa and should be viewed as “indicator” rather than actual count from the website itself.

 

The Alexa tool bar works on Explorer and Netscape ( not Opera or other web browsers.) They are partnered with Google. You may download their free tool bar.

http://pages.alexa.com/prod_serv/quicktour_new.html

 

To learn more about how the rankings work:
http://pages.alexa.com/prod_serv/quicktour_new.html

 

[Headlines]

 

 

### ############################### #########################

 

 

SBA Program Expands to Include Credit Unions

 

The Small Business Administration expanded its lending program to allow greater access to capital for small businesses. As many as 1,500 of America's more than 10,000 credit unions are likely to join our network of lenders which represents a potential increase of some 30 percent in the overall number of storefronts where entrepreneurs can seek capital for their business.

 

Administrator of the U.S. Small Business Administration, Hector V. Barreto said, "Building on our existing network of lenders, we can reach more communities, a greater number of entrepreneurs and a more diverse pool of prospective and existing small businessmen and women. My first priority is to reach as many small businesses as possible. Expanding the number of lending partners we participate with is a good way to accomplish that."

 

As part of President Bush's overall management agenda, agencies across the federal government have been tasked with finding ways to better manage for results. Expanding SBA's business loan program to include credit unions will help transform the agency into a more responsive, customer-centric organization.

 

The SBA is committed to serving small businessmen and women as an effective and efficient 21st century national organization; including credit unions will help SBA achieve that goal.

 

As Administrator Barreto put it, "we are grateful for the tremendous contributions our lending partners have made to bolstering and encouraging entrepreneurship. Since 1953 they have helped provide more than $175 billion dollars in financing to make small business dreams a reality. As our network of lenders grows, so does our ability to reach small businesses from rural to urban communities, so that we can maximize our ability to help make the American dream come true."

 

For more information about all of the SBA's programs for small businesses, visit the SBA's extensive website at www.sba.gov.

[Headlines]

 

########## #####################################

 

News Briefs---

 

Blix 'hid smoking gun' from Britain and US

http://www.timesonline.co.uk/article/0,,3-605557,00.html

 

Buffett blasts the quality of America's executives

http://www.taipeitimes.com/News/worldbiz/archives/2003/03/10/197514

[Headlines]

------------------------------------------------------------------------------------

 

Sports Briefs---

 

Emmitt could find Chiefs uniform is a fit

http://www.dfw.com/mld/dfw/sports/football/5353399.htm

 

Coles Talks Heat Up

http://www.washingtonpost.com/wp-dyn/articles/A2413-2003Mar9.html

NFL Draft Order

http://www.sportsnetwork.com/default.asp?c=dallasnews&page=nfl/stat/nfl-draft-order.htm

 

 

[Headlines]


"Selling Leasing in a Tough Economy"

by Jeffrey Taylor, CPA, CLP


click book cover for additional information

Click here for a full review

"A Must read."   "A Jewel"

Send Mr. Taylor an e-mail--and ask him to autograph the book for you. This is a classic you will want to keep.
jtaylor@executivecaliber.ws


$65.00 plus shipping and handling


Top Stories

CMC Not Licensed
Abacus Sues us for $5 Million
"Selling in a Tough Economy"
"Up-Grade" to Our Latest Version
My Son--Somewhere in the Pacific--On Maneuvers-US Preble
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Sky Financial COO Paul Appell Has Left the Building
Will it Float or Will it Sink/ True or False?

The List---Up-Dated
Alexa Ranks Leasing Association Web Sites
Abacus Leasing, Buffalo, NY Complaint
Southern Pacific Leasing Portfolio for Sale
The Funding Tree Now Located in Nevada
PinnLeasing---Grand Jury Indictment Now Public
Microfinancial/Leasecomm Stocks Falls to .73 cents
RW Professional---Up-Date

Netbank reported a net loss of $15.9 million year-end
Bulletin Board Year-End Report
FBI Arrests Paramount Pacific Funding Group Broker
Top Stories in 2002
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Leasecomm Goes Down
Equipment Leasing is Now #10 on Scam List
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NIGERIAN STORIES


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346 Mathew Street,
Santa Clara,
California 95050
Voice: 408-727-6464 Fax: 800-727-2026
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