Leasing News

“The Western Association of Equipment Lessor Legal Committee reviewed current legal developments: (l to r) Ray Garwacki, Esq., Hemar, Gordon & Rousso Law Officers; Barry Ferns, Esq., Ferns and Ferns, Attorneys-at-Law; Victor Harris, Esq.,Miller, Starr & Regalia; Steve Gilyeart, Esq.,Schwabe, Williamson & Wyatt.”

1990, fall Monterey WAEL Conference

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Classified Ads----Attorneys

Leasing News is read not only by people in the industry, but those seeking information or having a complaint about a lease. They find us by searching the web. We also have reporters, department of justice investigators, deputy district attorneys, department of corporation investigators, who are regular readers or find out web site, seeking information. Lessees and dealers who have difficulty also find us. Perhaps the attorney classified will also help them.

Attorney Posting--- Attorney---This is for Attorneys to post their legal services. Only members of a non-profit leasing association may list their firm. This insures the firm abides by the standards of conduct and also indicates their specialty is the leasing industry. If there are other offices or specialties, please mention in the 25 words allowed to describe the firm and services available.

California - statewide: CA "ELA"

5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders, plus collection and creditor rep. in bankruptcy. Email:phemar@hemar.com

Los Angeles -statewide: CA Practice limited to collections, bankruptcy and problem accounts resolution. Decades of experience. 10-lawyer firm dedicated to serving you. Call Ronald Cohn, Esq. (818)591-2121 or email. Email: rrcohn@aol.comrrcohn@aol.com "ELA "

NY Metro and National: Hackensack, NY

Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. Email:wuscher@uqur.com "ELA"

National: http://www.leaselawyer.com/

Full staff of attorneys and legal assistants work with Group Leader Barry S. Marks to ensure prompt, cost-effective responses to client needs: Email:bsm@blik.com

Northern California - Statewide: CA "EAEL" "ELA" San Francisco expertise at San Rafael, CA prices; practice limited to equipment leasing and finance with 22 years experience, testimonials. Ken Greene, Esq. 415-721-7900 kgreene100@aol.com

(If you are an attorney and member of a leasing association, you may post for free.

This may give an opportunity for an industry member to contact you for work

where you are licensed to appear in court.

http://65.209.205.32/LeasingNews/PostingFormAttorney.htm

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Microfinancial---"net loss for the quarter was $7.7 million."

"The net loss for the year ending December 31, 2002 was $22.1 million versus net income of $16.3 million for the same period last year"

"Originations in fiscal 2002 were down $37.1 million to $74.0 million as compared to the prior year."

“For the 2nd consecutive year the Boston Globe ranked MFI one of Massachusetts' top companies!”

from their website

“oh, did you know they closed down their Waltham location last week?

“they all relocated to the Woburn office, that is, those who did not get laid

off.”

Name With Held

There appears to be an affiliation with www.goldk.com

http://corporate.goldk.com/people/

http://corporate.goldk.com/people/bboyle.asp

http://corporate.goldk.com/people/pbleyleben.asp

Answers regarding prior sale of stock before the results were released. Previous

stories on this company are located here:

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MicroFinancial Incorporated Announces Preliminary Fourth Quarter and Year End 2002 Results; Company Engages Financial and Strategic Advisor

WALTHAM, Mass.,) -- MicroFinancial Incorporated (NYSE-MFI), a leader in Microticket leasing and finance, announced its preliminary financial results for the fourth quarter and the year ended December 31, 2002.

The Company also announced today that it is actively considering various financing, restructuring and strategic alternatives. During the quarter, the Company engaged a financial and strategic advisory firm, Triax Capital Advisors, LLC, to assist in this process. As previously disclosed, as of September 30, 2002, MicroFinancial was in default of certain debt covenants in its credit facility and securitization agreements. The fixed charge coverage covenant that was in default was the result of a $35 million additional allowance reserved against certain dealer receivables, as well as delinquent portfolio assets. The credit facility failed to renew on September 30, 2002, and consequently, the Company was forced to suspend new origination activity as of October 11, 2002.

Management received a waiver through April 15, 2003 for the covenant violations in connection with the securitization facility. The Company had obtained a Forbearance and Modification Agreement from the senior credit facility that expired on February 7, 2003. Upon expiration of that Agreement, the loan balance with interest and fees became due and payable immediately per the terms of the Company's credit facility. To date, the Company has fulfilled all of its debt obligations in a timely manner.

Based upon the preliminary results for the fourth quarter, the Company continues to be out of compliance with certain debt covenants. Management and its advisors continue to work closely with the Company's lenders to obtain long-term agreements. These events had an adverse effect on the Company's fourth quarter and year to date financial results. Originations in fiscal 2002 were down $37.1 million to $74.0 million as compared to the prior year.

Preliminary fourth quarter revenue for the period ended December 31, 2002 decreased 24.0%, or $8.9 million, to $28.0 million compared to $36.9 million last year. The net loss for the quarter was $7.7 million, or ($0.60) per diluted share, as compared with net income of $2.1 million, or $0.16 per diluted share in the prior year's fourth quarter. The decline in net income for the quarter is primarily the result of a 30.4% decline in lease and loan revenues to $11.2 million, a 46.1% decline in service fee and other revenues to $4.0 million, and a 32.7% increase in the provision for credit losses to $22.5 million as compared with the fourth quarter ended December 31, 2001. While revenue reductions were primarily related to lower origination volume, the additional provision for credit losses was required to maintain the Company's reserve policy requirements.

. The provision for credit losses increased to $22.5 million for the quarter ended December 31, 2002 from $16.9 million for the same period last year, while net charge offs increased to $28.8 million. Past due balances greater than 31 days delinquent at December 31, 2002 increased to 22.9% from 17.2% last quarter. Net cash provided by operating activities for the quarter decreased 4.0% to $29.1 million compared to $30.2 million during the same period in 2001.

Preliminary revenues for the year ended December 31, 2002 decreased 18.0% to $126.8 million compared to $154.0 million during the same period in fiscal 2001. The net loss for the year ending December 31, 2002 was $22.1 million versus net income of $16.3 million for the same period last year. Fully diluted earnings per share for the year was a loss of $1.72 on 12,862,834 shares.

Total operating expenses for the year, before the provision for credit losses, increased 2.0% to $74.7 million compared to $73.6 million in 2001. Interest expense declined 25.0% to $10.8 million as a result of lower average debt balances of approximately $17.3 million and lower average interest rates, which declined approximately 122 basis points. Selling, general and administrative expenses increased $600,000 to $45.5 million for the year ended December 31, 2002 versus $44.9 million for the same period last year. The decrease was driven by a reduction in personnel related expenses of approximately $2.1 million, as management reduced headcount from 380 to 203, but this was offset by increases in legal expenses. Depreciation and Amortization increased 28.0% to $18.3 million compared to $14.4 million in 2001. The provision for credit losses, including the additional provision of $35.0 million taken in the third quarter of 2002, increased to $88.9 million for the year ended December 31, 2002 from $54.1 million for the same period last year. The additional provision was required to reserve against dealer receivables and certain portfolio assets. Net charge-offs increased 27.0% to $65.0 million and gross lease investment was down 16.0% or $71.1 million from the same period last year, primarily caused by lower origination volume activity in 2002. Net cash provided by operating activities for the year ended December 31, 2002 decreased 1.0% to $120.6 million compared to $122.3 million for the year ended December 31, 2001.

MicroFinancial Incorporated continues to operate without the use of gain on sale accounting treatment and a balance sheet with total liabilities less subordinated debt to total equity plus subordinated debt of 2.2 to 1.

CONTACT: MicroFinancial Incorporated

Richard F. Latour, 781/890-0177

Full Press Release and Financial Statement at:

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=MFI&script=410&layout=7&item_id=389776

Stock Chart:

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=MFI&script=300&layout=7

For previous stories, please go here:

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

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California "Finance Lenders License"

The article pertaining to the Commercial Money Center (Wednesday, March 5,

2003), as not having a California Finance Lenders License and the potential

risks and penalties they now may face was very interesting. As a Commercial

Banker I would be interested in hearing the opinions of you and any of your

readers concerning the necessity of obtaining, or not obtaining, this

License. (Do you need it or not? why? should a Commercial Lender as "Due

Diligence" insist that any Brokers they discount deals for have it? Why

not?).

Thanks Kit, I always enjoy reading the latest news. Keep up the good work!

Bob Robichaud

Bob.Robichaud@pffb.com

Lease Finance Officer

PFF Bank & Trust

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2003 Lease Syndication Showcase Report from Atlanta, Georgia

Matching Buyers With Sellers In The

Commercial & Municipal Syndication Markets

Semon Sez…….

Who is Semon:

“With over thirty four years commercial and public finance experience, John O. Semon currently serves as president & CEO of Lessors.com, Inc. (the Lessors Network), and Semon Associates, Inc.

“Prior to launching Semon Associates, Mr. Semon served as a member of the Chase Manhattan Bank, N.A., Asset Liability & Management Committee and was the executive manager responsible for Chase Manhattan Leasing Company's "Government Finance Unit" where he built and managed the first bank owned private placement syndication program for tax-exempt leases. In 1989 Mr. Semon founded Semon Associates, Inc., providing professional consulting and tax-exempt portfolio syndication services exclusively to the public finance markets.

“In 1996, Mr. Semon began developing an Internet platform for the efficient distribution of equipment leases and portfolios. Rated in Yahoo's "Top Ten Most Popular Web Sites", Lessors.com evolved into a full service equipment leasing and commercial finance portal and began producing upscale technology conferences for the equipment leasing industry.

“Mr. Semon's past services as president and chairman of The Association for Governmental Leasing & Finance, a member of the Equipment Leasing Association's "Municipal Forum", co-founder and chairman of the Jurassic Lessors Association and as an industry spokesperson for the United States Congress have provided additional critical experience and national acceptance as a speaker, author and industry advocate. “

“Company Profiles

“Semon Associates, Inc. provides professional consulting and private placement syndication services for tax-exempt (municipal) equipment leasing and finance portfolios.

“The Lessors Network currently serves the world's largest online network of equipment leasing and commercial finance professionals.”

(Best of luck, John, and hope you are back dancing soon, drinking good California wine, and the occasional cigar (if I can find a Havana, will send it to you). Editor )

The Report

Semon said, “The Lessors Network is going to present a one day syndication conference using the “quality over quantity” paradigm that is the basis for all our events”. Semon said, it’s all about networking, and when you leave this event you will know everything you need to know about which companies are selling and which companies are buying in 2003. Semon said, “ attendance will be limited and by invitation only, so if you are highly involved in lease syndication, send in a request for an invitation to this highly focused event”.

Monday, sixty-five of the over two hundred people requesting invitations actively participated in the first Leasing Syndication Showcase. Semon said, “The Lessors Network does not sponsor political action or leasing education, but focuses on deal flow and relationship enhancement”. That focus was highly evident all during the conference, and it was very clear that the bottom line objective was to ensure that all participants received the maximum return on their investment in the showcase.

At the registration desk, sellers were given green badges, buyers got red badges, and buyer/sellers got blue. This clearly identified potential networking targets, even from across the room. A tally of the buyers and sellers showed a preliminary buy side appetite of $5 Billion and an available sell side approximating $4.2 Billion.

Sixteen of the participants made formal presentation on their companies and syndication strategies, and it was clear that the showcase selection process had worked. Sixteen top syndication professionals gave clear and concise overviews and certain specifics that enabled the participants to narrow down which other companies they could do business with. Comments such as “mission critical equipment” and “will do the equity side” and “structure with LOC” enabled an effective differentiation of the presenters for later discussions in the networking suite.

One west coast first time Lessors Network conference participant felt it was well worth the investment and describe the showcase format as “intimate and effective”.

So the next time Semon sez………

Allen Zeppenfeld

---…………………………….

Being Atlanta, Georgia, we were lucky to have our ace reporter Allen Zeppenfeld

and chief Leasing News photographer Fred St. Laurent. Readers of our up-grade

version will be able to see the pictures, and they will be posted in our news on

www.leasingnews.org.

The Lessors' staff: Barbara Savage, John and Anjanette Simone

Allen Zeppenfeld and Larry Smircich

Allen Zeppenfeld and Tom Martin

Regards,

Fred St Laurent

Managing Director - Recruiting

Bradbury and Williamson, Inc.

Financial Services Division

4550 River Green Parkway - Suite 120

Duluth, Georgia 30096

770-813-3320 ext 124

"No excuses just results"

freds@bwresults.com

Please visit our website:

http://www.bwresults.com

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Best in Class—Not “Interim Rent”—says Gary Saulter, Chase Industries, Inc.

“I wanted to respond to Norm Nelson’s & Patrick Byrne’s piece last week on “Cream of the Crop Independents. “ These ELA lessors wrote in great length on high performing lessors that are considered ‘Best in Class’ and what determines this from a lessee standpoint. They list words like honorable, fairness, ethics, and character. But it seems like the big lessors and many small ones have anything but these attributes. Is our industry becoming more and more like the mortgage industry? Sucking out more and more hidden fees from unsuspecting customers? It sure seems so.

“I bring up interim rent. I challenge anyone in this industry to explain how this is ‘customer service’. Extolling an extra payment from a customer that does not know they are paying it, seems like it would be called something else.

“And lately, I have just found out that one of the larger lenders out there is exercising evergreen clauses on PUTS!!! Hello? Is anybody listening or watching out there? Or has it become a free-for-all to see who, and how many ways there are to skin a cat? And fortunately for our lenders in the leasing industry - not a very savvy cat at that.

“I would caution all the brokers out here to check out their lenders to see exactly what they are charging their customers. I did and found an eyeful.”

Gary Saulter

Chase Industries, Inc.

gsaulter@chaseindustries.com

800-968-5000

(The original comments and “headline” come from an article in the ELA online Newsletter. Mr. Saulter does not appear to be specifically naming these companies, but painting a broader brush stroke on the industry itself. I hope

you are attending the National Association of Equipment Leasing Brokers

Conference in Chicago, Il. You need to bring these issues up with this

body.

There are many who maneuver due dates to gain extra profit called “interim” rent.

You may hear the response, “Not I,” but the brokers who have sold leases to these lessors get the feedback and know the truth. The trick is to change the due

date during the course of the lease and incur more “interim rent.” Leasing News has also received many of these complaints, but we have not put on the bulletin board as we have been able to resolve the issue between both parties. In addition, most lease contracts spell out “interim rent” and by signing the lease contract, the lessee accepts this condition

It is also not uncommon for lessors to continue billing monthly payments to lessees who have not informed the lessor they want to exercise their purchase option. One lessor splits the extra monthly profits with brokers. There are also other hidden charges. At one time, it was common to enforce the provision

that if the lessor was not notified 180 days or 90 days before the expiration of

the lease, it continued for an automatic twelve months. This practice is against

the law in many states.

. editor)

please send to a colleague and ask them to subscribe.

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Equipment Leasing and Finance Foundation Latest report

Predicting the growth of independent lessors, this is a report

you should take the time to down load and read with undivided

attention. editor

For the 2nd consecutive year the Boston Globe ranked MFI one of Massachusetts' top companies!

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Industry Future Council: Lessors Must Position Now

For Business in the Future ---ELFF Report

******************************

The 2003 Industry Future Council (IFC) Report is now available FREE for

download from the Equipment Leasing & Finance Foundation's website,

http://www.LeaseFoundation.org/ or by calling Foundation Executive Director

Lisa Levine at 703/527-8655.

(to down load the free 24- page report from ELFF site:

http://www.leasefoundation.org/ResearchPubs/index.htm#2003IFC

This may also put you on their newsletter list to get other information direct.

For readers who want to go direct to the 24-page form in Adobe format:

http://www.leasingnews.org/PDFFiles/2003%20Industry.pdf

The IFC, an annual gathering of top equipment leasing executives brought

together to discuss the industry's course and prospects for the coming

year, identifies external drivers and projects how they might affect the

business in the near to mid-term.

At this year's meeting, held in Washington, D.C. in January and sponsored by

American Lease Insurance, participants agreed that the number one problem

the industry faces in 2003 is the sluggish economy and its effect on

business capital investment. Members agree that conditions will improve,

but disagree about when. Furthermore, several accounting standards and

regulatory changes loom in the middle distance, and they may fundamentally

impact the nature of the business.

Still, opportunities will continue to present themselves, particularly as

more competitors leave the marketplace, IFC members said. The key to being

around to seize those opportunities is operational excellence. Said one

participant, "In order to succeed, you have to be good at everything; you

have to get it all right." What else does the near future hold for leasing?

Briefly, the IFC believes:

1. The leasing industry will focus on value-added services to differentiate

a commoditized lease product.

2. Industry consolidation will continue but at a slower pace.

3. Independent lessors will grow strong again

The 2003 IFC report goes into considerable detail on these and other

crucial industry issues. Look for a more comprehensive summary of the IFC

and the Report in the April issue of ELT and the spring issue of the Journal of

Equipment Lease Financing.

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ApproveIt eTransaction Suite--Lending/leasing market

ORLANDO, FL., - Building on the success of Silanis' ApproveIt technology, which is used to create legally enforceable electronic documents in financial applications, including mortgage and auto lending, insurance, and banking, Silanis introduces the ApproveIt eTransaction Suite. Designed to meet the specific needs of the lending and leasing markets, the ApproveIt eTransaction Suite enables the financing industry to create and manage legally enforceable electronic transactions that include negotiable instruments, chattel paper and documents of title. Banks, lenders, investors and other financial organizations can now come together electronically and realize the speed and efficiency benefits of completely electronic transactions. This includes an opportunity to automate and drastically shrink the lengthy and complex loan document life-cycle required by the range of parties involved in origination, closing, servicing and secondary marketing or securitization of the transactions.

The ApproveIt eTransaction Suite is comprised of two key products that facilitate eContracting and eTransferable Records Management and Control. The eContracting function is handled by the Silanis ApproveIt Web Server, a product that many insurance, banking, auto and mortgage lenders are using for the electronic presentment of disclosures, and signing of legally enforceable electronic contracts and other supporting documents. The new addition to the ApproveIt family is the ApproveIt Transferable Records Manager, a product that is tightly integrated with ApproveIt Web Server to create, manage and transfer documents such as mortgage notes and auto loan and lease contracts.

A critical feature of the ApproveIt eTransaction Suite is the adherence to legal requirements of all phases of the lending and leasing process, including compliance with the consumer consent and e-signature elements of ESIGN, and the specific signature and electronic record requirements of UETA and UCC 9-105. In addition, the solution addresses the fundamental business requirements for electronic signatures and electronic document retention, control, and transfer associated with lending throughout origination, closing, servicing and secondary marketing or securitization.

"A significant number of legally enforceable documents are already being created today using our technology," says Michael Laurie, vice president of Silanis technology. "In order for lenders and leasers to realize the full benefits of this technology, they need to address the remainder of their financial strategy which involves the sale or securitization of the obligations into the secondary market. The ApproveIt eTransaction Suite enables organizations to implement a fully automated financial strategy that eliminates the barriers introduced by creation, transfer and management of paper documents."

All components of the ApproveIt eTransaction Suite are built around a single guiding principle of working the way people work today. Adoption is made easier for organizations, as the solution does not force them to re- engineer processes or take on new roles and responsibilities. Built to address how people interact within today's business processes, the ApproveIt eTransaction Suite provides organizations with the choice of using unique configurations to address their respective roles in the financing process. This flexibility is critical, as different parties are responsible for various phases of the process.

"Lenders, leasors, title companies, and other service providers can now take advantage of an electronic transaction process to reduce the time and cost of executing documents using Silanis' technology," says Stewart Morris Jr, President of Stewart Title. "We see this as a process improvement that will clear the way for a better experience and reduced costs for the consumer, lender and other parties while reducing the paper necessary to get a deal done."

ABOUT SILANIS

Silanis Technology is the leading developer of electronic signature and electronic transaction solutions. With over 1000 customers across government, mortgage, auto finance, insurance and banking, Silanis has over 10 years experience in developing and delivering solutions that work the way organizations do. Silanis' flagship customers include Quicken Loans, GMACCM, DealerTrack/Credit Online, Stewart Title, and eLynx. A privately held company, Silanis is backed by New York's Lehman Brothers Venture Capital and leading Canadian capital investors. For more information about Silanis Technology, visit www.silanis.com .

SOURCE Silanis Technology Inc.

CO: Silanis Technology Inc.

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Financial Federal Corporation Announces 10% Decrease

NEW YORK----Financial Federal Corporation ("FIF" - NYSE), announced net earnings of $8.3 million for the quarter ended January 31, 2003, a 10% decrease from the $9.2 million earned for the quarter ended January 31, 2002. Diluted earnings per share decreased by 8% to $0.46 from $0.50. Finance receivables originated during the quarter totaled $155 million. Finance receivables outstanding increased by 2% to $1.41 billion at January 31, 2003 from $1.38 billion at January 31, 2002.

Net earnings were $16.6 million and $18.1 million for the six month periods ended January 31, 2003 and 2002, respectively, decreasing by 8%. Diluted earnings per share were $0.90 and $0.98, respectively, an 8% decrease. Net earnings for the six months ended January 31, 2003 includes a $1.1 million after-tax loss from the redemption of convertible debt that reduced diluted earnings per share by $0.06. Without this loss, net earnings was $17.7 million and diluted earnings per share was $0.96, each representing a 2% decrease from the respective amounts for the comparable period last year.

Asset quality measures continued to deteriorate during the quarter. Net credit losses were $2.8 million or 0.78% (annualized) of average finance receivables compared to 0.41% in the preceding quarter. Non-performing assets were 5.6% of total finance receivables at January 31, 2003 compared to 4.2% at October 31, 2002 and 3.4% at January 31, 2002. Delinquent receivables (60 days or more past due) were 2.3% of total finance receivables at January 31, 2003 compared to 1.9% at October 31, 2002 and 3.1% at January 31, 2002.

Paul R. Sinsheimer, CEO, commented, "Persistent weakness in the overall economy, together with geopolitical uncertainties, continues to negatively impact the industries financed by the Company. New business opportunities were also adversely affected by severe weather conditions, rising fuel prices and higher insurance costs.

"The Company's financial position remains strong. Debt-to-equity is 3.5:1 (compared to 4.5:1 at July 31, 2002) and we have lengthened the maturities of our term debt. In the event new business opportunities improve, the Company has the liquidity to meet the increased demand. Notwithstanding these difficult conditions and reduced leverage, the Company still produced an 11% return on shareholders' equity."

Financial Federal Corporation specializes in financing industrial and commercial equipment through installment sales and leasing programs for manufacturers, dealers and end users nationwide. For additional information, please visit the Company's website at www.financialfederal.com.

CONTACT:

Financial Federal Corporation

Steven F. Groth, Chief Financial Officer, 212/599-8000

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Streamline Sales Tax Report—Dennis Brown, ELA

Last week a meeting of state leaders assembled by the National Conference of State Legislatures (NCSL) in Washington, D.C. heard a series of optimistic reports on progress toward enactment of the Streamlined Sales Tax System. NCSL

President Angela Monson (D-Oklahoma) and NCSL Task Force Chair Senator Steven Rauschenberger (R-Illinois) gave accounts of fast paced acceptance in state legislatures. Establishment of the new Governing Board was seen as a possibility

by year-end.

United States Senator Kay Bailey Hutchison (R-Texas) reported a weakening of congressional resistance to endorsement as a mandatory system for collection from the Internet and catalogs. State Senator Rauschenberger joined others describing

Streamline as a new way to make the federal model work and a prototype for tackling other problems facing state governments. All statements indicated the likelihood of moving for congressional consideration in the fall.

Streamline issues will be examined by a panel of speakers from the American Legislative Exchange Council, Council On State Taxation and National Retail Federation moderated by the Equipment Leasing Association in Washington, D.C. from 8:30AM 11 AM at the Hall of States, 444 North Capitol Street, 2nd Floor Conference Center of State Services Organization, Rooms 283 and 285 on Wednesday, March 12. You can register online at www.wasrg.com

Dennis Brown

DBROWN@ELAMAIL.COM

Equipment Leasing Association

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News Briefs---

Interest Rates May Be Cut to 1958 Low

http://www.washingtonpost.com/wp-dyn/articles/A8560-2003Mar11.html

1958-A serious recession affected the entire country. In February the jobless represented 7.7% of the total labor force, by March the total number of unemployed had jumped to 5,198,000. ( meaning it got worse, before it got better ).

Mortgage Giants Are At Risk, Official Warns

http://www.washingtonpost.com/wp-dyn/articles/A7702-2003Mar10.html

[Headlines]

Sports Brief---

Steelers finalizing five-year deal with Jackson

http://espn.go.com/nfl/columns/clayton_john/1521433.html

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