|
|
 |
 |
 |
|
|
|
|
|
November 27, 2002 The Salvation Army Launches Cutting Edge Toy
Donation Web Site SAN
FRANCISCO---In the winter of 1891, Salvation
Army Captain Joe McFee put a crab pot on the
San Francisco docks and asked citizens to "keep
the pot boiling" by making donations so
he could feed the needy at Christmastime. These
days, we all know this "crab pot"
to be The Salvation Army Christmas Kettle. Once
again, The Salvation Army is on the cutting
edge of creating effective methods to reach
society's under served with the launch of its
very first online toy donation web site, www.givingtree.org. Givingtree.org
will be the online version of The Army's successful
Angel Giving Tree Program that features trees
in malls and workplaces, bringing in thousands
of presents for needy children. Instead of going
to a mall, shoppers will be able to pick from
a variety of toys for all ages at givingtree.org.
The gifts will be shipped to the designated
Salvation Army distribution location, where
they will be given to local children and families.
The web site was developed by San Francisco-based
Donor Digital and Duniya Technologies of Atlanta
using Yahoo Stores technology. "This
new online program will greatly enhance The
Salvation Army's Web presence and as a result
increase online giving and build stronger relationships
with those who use the Internet as their primary
communication and commerce tool," said
Nicci Noble, Internet Development Director for
The Salvation Army's Golden State Division. "I
am very excited about our new project and see
it as another example of how we are constantly
striving to serve our community through diverse
and effective methods," added Lt. Col.
Bettie Love, San Francisco City Administrator
for The Salvation Army's Golden State Division. Since
1883, The Salvation Army has been serving the
San Francisco Bay Area community, offering practical
support, spiritual comfort and a critical safety
net to people in crisis without discrimination.
The Army has 72 centers throughout Northern California and
provides a myriad of services, including child
day care and drug and alcohol rehabilitation
centers, transitional housing, and nutritional
and housing support for seniors. Those wishing
to make donations can call their local Salvation
Army, or log onto www.tsagoldenstate.org. --------------------------------------------------------------------------------------------------- Headlines--- Pictures from the Past---1987----Parker,
Woodley Prosecutors:
Ohio banker took $8 million more than first
thought Officers
of failed bank face fines ELA
Industry Q Report 7.8 Percent Growth Since 3Q
2001 CIT
to Present at Lehman Brothers Financial Services
Conference ELA
Amy Miller Holmes Reports from the Field (What
Lessors Are Saying About. . .Growth & more) CapitalSource
Forms New Finance Division; Jeffrey Kilrea To
Lead Growth
Hit 4% Rate in 3rd Quarter /Other
Economic Reports Paint a Mixed Picture Consumer confidence rose in November Housing Reports: Shades of Roseanne
Roseannadanna West Coast
vs. East Coast-Median Price for Houses Up Compromise clinched longshore
union deal---wrap-up IDS Hubert to Take Leave of
Absence to find money Is American Express Business
Financial for Sale? GE Capital Selling Colonial
Pacific Portfolio?
Fifth Third Stock Takes
Hit Following Accounting Probe TBF Financial Purchases Charges Offs---- Wines of the Week for Thanksgiving The
Moon is Open for Business--GE Capital Lease (“We bring good things to life”) ###
Denotes Press Release --------------------------------------------------------------------------------------------------- Pictures from the Past---1987----Parker, Woodley
1986 Western Association of Equipment Lessors
President Ted Parker, Charter Equipment Leasing
(left) admonishes 1987 President-elect Joe Woodley,
Westover Financial, IN. to “ talk softly and
carry a big stick” as he passes the gavel. ------------------------------------------------------------------------------------------ Prosecutors: Ohio banker took $8 million more
than first thought By Associated Press TOLEDO, Ohio (AP) Federal prosecutors on Tuesday
said a small-town bank executive embezzled more
money than they originally thought. Prosecutors changed the indictment against Mark
Miller, accusing him of embezzling $48 million
from Oakwood Deposit Bank Co. since 1993. Miller initially was charged with taking at
least $40 million since 1999 and diverting more
than $15 million to investments in leasing gambling
boats operating in South Carolina and Florida.
Miller, former chief executive officer of Oakwood
Deposit Bank Co., is accused of providing false
documentation indicating that the money was
federally secured when it was not. He entered another innocent plea on Tuesday
to charges of money laundering and embezzlement.
If convicted, he could face up to 50 years in
prison and fines totaling $1.5 million. The Federal Deposit Insurance Corp. seized and
closed the bank's two branches in Oakwood and
nearby Grover Hill in February. The bank has
reopened under the management of The State Bank
and Trust Co., a northwest Ohio bank. ------------------------------------------------------------------------------------------------- Officers of failed bank face fines By Associated Press HARTFORD, Conn. (AP) Eight officers and directors
of the failed Connecticut Bank of Commerce are
facing state fines of $2.3 million. State Banking Commission Johner P. Burke said
Tuesday that he intends to impose the penalties
against the eight for their roles in contributing
to the bank's severe undercapitalization which
led to its takeover in June. The Connecticut Department of Banking shut down
and seized the troubled Stamford-based bank
on June 26, the first bank failure in the state
since 1996. At the time, Burke declared the financial condition
of the Stamford-based bank as ''unsafe and unsound.''
The Stamford-based institution, with branches
in Branford, Woodbridge and New York City, had
suffered a series of losses and was operating
under a cease-and- desist order from the Federal
Deposit Insurance Corp. to reduce its level
of nonperforming loans, equipment leases, and
to maintain adequate capital. Burke said Randolph W. Lenz, the bank's majority
shareholder and chairman of the board, will
face $555,000 in fines. Seven other executives face fines of between
$30,000 and $390,000. Burke said the FDIC has also issued civil penalties
against the eight. Attempts to reach Lenz Tuesday were not successful.
There was no telephone listing for that name
in Connecticut. ---------------------------------------------------------------------------------------------------- Equipment Leasing Industry Quarterly Report
Reveals 7.8 Percent Growth Since 3Q 2001 Every quarter the Equipment Leasing Association
(ELA) completes a performance indicators report (PIR) measuring
volume growth, portfolio size, labor trends, delinquency trends and credit
approval ratings within the equipment leasing industry. Highlighted
below are the findings of the 3Q 2002 PIR. Receivables More Than 90 days Doubles to 1.9
Percent in 3Q 20 Of special interest is the increase in receivables
more than 90 days, which doubled to 1.9 percent, which coincides
with the Fitch/ABS report issued yesterday: http://www.leasingnews.org/#fitch Charts, Web Format:: http://www.leasingnews.org/articles.doc/Charts_3rdQPIR_november%202002.htm Charts, Excel Format: http://www.leasingnews.org/articles.doc/Charts_3rdQPIR_november%202002.xls ############## ############### Arlington , Virginia . The Equipment Leasing
Associations (ELA) 3Q 2002 Performance Indicators
Report (PIR) reveals new business volume growth was about 7.8 percent
since 3Q 2001, and total net portfolio continues
to grow with a 3.1 percent increase whencompared
to the 3Q 2001. The
PIR study is conducted quarterly by ELA, which
provides a variety of data, including customized
market analyses, to ELA members and organizations.
The survey is conducted with approximately 20
major leasing companies on a quarterly basis,
affording trend analysis across all major performance
areas. Other 3Q PIR findings include: * The total number of employees remains stable
at 0.84 percent. * Credit approval ratios have increased 2.2 percent
compared the 3Q 2001. * Average losses remained stable when compared
to the previous year. * Receivables more than 90 days doubled from
1.1 percent in 3Q 2001 to 1.9 percent in 3Q 2002. These receivables findings could have serious
implications for the leasing industry as credit quality shows continued
deterioration, said Ralph Petta, ELAs vice president of industry
services. The rise in year-over-year new business volume growth, however,
is probably more attributable to acquisitions than to organic
growth. In addition, the increase in growth from 3Q 2001 to 3Q 2002 can
be attributed to one responding company. ELAs quarterly PIR tracks the performance of
the 20 prominent leasing organizations in six key areas: total net portfolio,
total new business volume, average losses, credit approval ratio,
total number of employees and delinquencies. The data issued reflects
the same 20 companies in each report. . To access this and other industry information,
visit the ELA website at www.elaonline.com or
call ELA at (703) 516-8380. Financial decision makers needing more information
on leasing should visit www.LeaseAssistant.org, which provides
information on how to choose a leasing company, the top 10 questions
to ask before signing a lease, a glossary of terms, and more. Organized in 1961, the Equipment Leasing Association
(ELA) is a non-profit association representing companies
involved in the dynamic equipment leasing and finance industry. ELA's
mission is to promote the leasing industry as a major source of funds
for capital investment in the United States and abroad. Headquartered
in Arlington , Va. , ELA has more than 800 member companies and a staff of
27 professionals. Equipment leasing is estimated to be a $204
billion industry in 2002. Visit ELA online at http://www.elaonline.com.
------- Third Quarter 2002 Performance Indicator Report
Participants ADP Credit Corporation Amsouth Leasing Corporation Caterpillar Financial Services Corporation Computer Sales International, Inc. Dana Credit Corporation De Lage Landen Financial Services GreatAmerica Leasing Farm Credit Leasing Services Corporation Fleet Capital Leasing John Deere Credit Corporation Hitachi Credit America Corporation Key Equipment Finance LaSalle National Leasing Corporation U.S. Bancorp Leasing & Financial Verizon Credit, Inc. Wells Fargo Equipment Finance Chart: Web: http://www.leasingnews.org/articles.doc/Charts_3rdQPIR_november%202002.htm Excel: http://www.leasingnews.org/articles.doc/Charts_3rdQPIR_november%202002.xls --------------------------------------------------------------------------------------------- |
