Leasing News

18+ years experience in leasing US/Europe, as both lessee and lessor. Am versatile and adaptable to lessee, lessor, or lender career opportunity. Chicago relocation desired. Email:kris_k11@yahoo.com

Finance: Orange County, CA

CFO/Controller/IT Director - 15 years experience in leasing and ABL. Experienced in: Accounting, Finance, Systems, Tax, Operations, Securitizations, etc.MBA, ELA member. Many accomplishments. Email:gosween@cox.net

Funding: Portland, OR

23 years experience in equipment leasing. Specialty is documentation. I have my CLP and have been active in all aspects of the leasing industry. Email:donreneejohnson@juno.com

Senior Management: Chicago, IL

Sr. biz leader/ 20 years exp. in vendor leasing seeks challenging position w/strong Chicagoland area lessor. Excellent business development, sales/vendor management exp./ solid references available. Email:unemployed_in_illinois@yahoo.com

for full list, please go here:

http://65.209.205.32/LeasingNews/JobPostings.htm

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CORRECTION: Commercial Money Center Deadline

Deadline for filing for claims for Commercial Money Center has been

extended since the proceedings were converted to a Chapter 7. The CURRENT attorney is Bradley Shraiberg and his phone number is 561.395.0500. He is the contact until a further motion is filed to have him removed (he said for geographical reasons, as it is now moving to the Southern District of California Bankruptcy court in San Diego .).

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“Boom Boom” Umbrage

Congratulations to Betty Kerhoulas! Its about time this organization had the

guts to vote a woman in as President but I was disappointed by the nickname

she was being called under the "top gun" excuse. I don't know about anyone

else out there...no I have not lost my humor ....what I have lost is my

respect for the men who run UAEL for giving her the nickname "boom boom".

I didn't hear any derogatory nicknames for the men...unless it was referring

to their golf game. I noticed quite a lot of smart, educated,

successful fabulous women at the conference and know of many more that were

absent...I was very glad to see Marci Kimball of ACC Capital, another woman, on the UAEL board.

I serve on the ELA (Equipment Leasing Association) board, which has a number of women, I was on the EAEL (Eastern Association of Equipment Lessors ) board...again they have always had a number of women. We weren’t addressed

as “Boom Boom”. It appears that the old boy network is still hard at work. I hope Betty can...I believe she will do a great job...lets hope that more women will be right behind her.

Good luck Betty! In the words of our morning speaker..you are intelligent, interesting, and fabulous!

Sincerely,

Deborah J. Monosson

President

BOSTON FINANCIAL & EQUITY CORPORATION

20 Overland Street

Boston MA 02215

617-267-2900 Tel

617-437-7601

http://www.bfec.com

debbie@bfec.com

---

Congratulations to Bette Kerhoulas, CLP. I am very confident that she

will lead UAEL through the very tough road ahead. She is intelligent,

successful, thoughtful, courageous, and dignified. She is a beautiful

person.

Shame on the 3 UAEL men that allowed her to be referred to as "Boom

Boom" at the UAEL conference. Wake up Gentlemen, and I use the term

loosely, this is not 1962. Your lack of respect is despicable.

Ginny Young

ginnyyoung@bravacapital.com

Brava Capital

Orange CA

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Leasing Industry Application Approval Rate Increases, According to Equipment Leasing Association Study

Annual Survey Shows 10 Percent Increase In Business Booked Or Funded And Brokered

October 3, 2002—Arlington, Virginia—The Equipment Leasing Association’s (ELA) 2002 Survey of Industry Activity (SIA) report results reveal that 71 percent of commercial lease applications submitted in 2001 were approved, with 54 percent booked and funded or brokered. Comparatively, in 2000, lessors reported 68 percent of applications submitted were approved and 44 percent was booked and funded or brokered.

The annual SIA provides a comprehensive look at the leasing and finance industry and tracks major performance measures for leasing and finance operations. “The survey results demonstrate that equipment lessors continue to strive to service businesses needs for equipment finance,” said Michael Fleming, ELA president. “A 10 percent increase in bookings or funding is significant. At the same time, while approval rates are up, delinquency and write-offs remain extremely low and steady.”

According to survey results, the 2001 average write-off is just 0.8 percent of the average net lease receivables balance and more than 97 percent of average receivables were current (less than 30 days). In 2000, 96.3 percent of average lease receivables were current and the average write-off was 0.7 percent.

Other ELA 2002 survey results highlights:

*27 percent of leases were renewed by the original lessee.

*The most widely used remarketing method to dispose of equipment at the end of the initial lease term was equipment purchased by the original lessee at 54 percent.

*The industry as measured by survey respondent activity grew to $114.6 billion in new business volume versus $112.7 billion in the previous year, a 1.6 percent increase.

*Industry ROA was 1.6 percent in 2001 (down a shade from 1.7 percent in 2000) and ROE was 13.7 percent (down from 14.7 percent).

ELA survey results were compiled from responses from 134 companies in one of four market segments that were determined based on the typical transaction size of a majority of their lease volume. The 2002 survey participation rate was significantly higher than in recent years, and the mix of respondents varied to a greater degree from past surveys. The four market segments include: micro-ticket (transactions less than $25,000), small ticket (transactions between $25,000 and $250,000), middle market (transactions between $250,000 and $5 million) and large ticket (transactions greater than $5 million). In addition, the data is analyzed and presented by the category of respondent organization: bank, independent or captive, and specific industry sector such as: transportation, agriculture, computers, furniture, medical, and telecommunications.

. For more information on the leasing industry, visit ELA online at http://www.elaonline.com or check out ELA’s informational portal for financial decision-makers at http://www.leaseassistant.org.

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. ELA maintains an informational portal for financial decision-makers at http://www.leaseassistant.org. Headquartered in Arlington, Va., ELA has more than 800 member companies and a staff of 27 professionals. Equipment leasing is estimated to be a $244 billion industry in 2002. Visit ELA online at http://www.elaonline.com.

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Semiconductor Industry Leasing Trends Reported In Equipment Leasing and Finance Foundation Study

Survey Identifies Semiconductor Firms Most Likely to Lease and Why They Choose Leasing

Arlington, Virginia--The Equipment Leasing and Finance Foundation, a non-profit organization dedicated to enhancing recognition and understanding of equipment lease financing, today released the results of a new study, Trends in the

Semiconductor Manufacturing Industry. The study contains conditions unique to the semiconductor manufacturing and equipment industries that influence the use of lease financing, and projections of future industry leasing.

The study found that the types of semiconductor manufacturing firms most likely to lease equipment are firms operating at the “bleeding edge” of technological development, new entrants, and less-diversified manufacturers that can benefit from leasing’s ability to conserve cash, protect against technological obsolescence, and provide equipment disposal/reallocation.

“Survey respondents agreed that leasing facilitated entry into semiconductor manufacturing, which suggests that demand cycles may be exacerbated by leasing,” said Lisa Levine, executive director of The Equipment Leasing and Finance Foundation.

“Respondents generally agreed that leasing aided expansion of production capacity during industry demand peaks.”

The study also addresses the major reason firms choose to lease, the types of semiconductor equipment most likely to be leased, the barriers lessors encounter when leasing to this market, and the market’s e-commerce activity.

According to the study, the most important cause of expanded equipment leasing in the semiconductor industry is the increasing cost of new fabrication facilities. Other factors include the rapid rate of technology obsolescence, the need to conserve cash and rapid expansion capability during peaks in demand. However, issues affect the ability of equipment lessors to operate in the semiconductor market; these include the ability to estimate residual values of equipment, access to intelligence regarding future technological developments, and the desire to maintain a diversified portfolio.

“The semiconductor manufacturing industry poses tremendous financing challenges to participating firms,” said Levine. “The Foundation study provides an overview of variables that affect financing and the ways semiconductor firms are addressing them. The information is a valuable competitive tool for finance companies.”

The types of semiconductor equipment most likely to be leased are state-of-the-art and less-customized equipment. Yet, again, difficulty in predicting residual value was identified as a critical barrier to the leasing of certain equipment classes.

Survey findings show that e-commerce will play a larger role in the semiconductor manufacturing industry in the future.

“Preliminary equipment survey respondents agreed that the Internet makes it easier for their firms to find buyers for their used equipment,” said Levine.

“Eight percent of the 64 survey respondents stated that they were selling used or refurbished equipment over the Internet, and 20 percent plan to do so in the next three years. Eleven percent are using the Internet for online maintenance of customers’s equipment, and 20 percent are developing the technology to support this process. Eight percent are monitoring their customers’ equipment online, and 22 percent plan to begin online monitoring within the next three years.”

http://www.leasingnews.org/PDFFiles/Semiconductor.pdf

Other free reports are available at: http://www.leasefoundation.org.

Organizations seeking more information about leasing, including the questions to ask before signing a lease and help in finding a leasing company, should visit www.LeaseAssistant.org.

About The Equipment Leasing and Finance Foundation

The Equipment Leasing and Finance Foundation is a 501c3 non-profit organization established in 1989 by the Equipment Leasing Association of America (http://www.elaonline.com). The Foundation develops and promotes the body of knowledge to enhance recognition and understanding of equipment lease financing. The Foundation’s strategic objectives are to maximize the

role that equipment leasing plays in the world economy, and to be the prime developer and disseminator of a body of knowledge of the leasing industry. Visit the Foundation online at http://www.leasefoundation.org.

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Late Registration Procedure ELA S.F. Conference

Equipment Leasing Association San Francisco Conference

October 13-15 San Francisco Marriott 55 4th Street, 777 Market Street (same location)

“Mail In” Registrations Closed.

"Please note that non-member registration is welcome, but is only available to a person who has not previously attended the ELA convention or to a person from nonmember company that has never sent an attendee. The deadline for mail-in registration forms is October 3. Individuals who want to register or make substitutions after that date can do so on-site."

http://www.skyscrapers.com/english/worldmap/building/0.9/118782

http://www.elaonline.com/events/2002/annconv/schedule.cfm

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White House moves toward intervention in port dispute

by Rene Tankersley

landlinemag.com

The Official Publication of the Owner-Operator

Independent Drivers Association

The White House issued a press release Monday announcing President George W. Bush's first steps toward possible intervention in the West Coast ports' lockout. Under the Taft-Hartley Act, the president will convene a Board of Inquiry to examine the work stoppage at the West Coast ports.

A Board of Inquiry is part of a framework established by Congress to address labor disputes that threaten national health and safety.

"The dispute is a threat to America's national health and safety," the press release stated. "The health of our economy in every corner of America is in jeopardy because of the dispute."

The board will make a quick assessment of the economic damage and determine whether the two sides are negotiating in good faith. Its formation was required under the law before the president can order an 80-day cooling-off period that would force longshoremen back to work.

Read the complete White House press release at: www.whitehouse.gov/news/releases/2002/10/20021007-5.html and the President's executive order at: www.whitehouse.gov/news/releases/2002/10/20021007-3.html.

"Mood is Determination"

Bustin & Company Economic Survey

Business leaders today find themselves operating in a quagmire but are trudging forward relentlessly with the belief – or, perhaps, hope – that they will break out onto solid ground sometime in 2003, according to Bustin & Co.’s 4Q 2002 survey.

“I don’t think a sustainable recovery will occur until corporate America can get comfortable with their profit models [and start] investing back into their business,” says the chief executive of a private company, echoing the sentiment of 41% whose top priority over the next 90 days is profit. Another chief executive noted that “businesses are realizing that, slowdown or no slowdown, they must move forward. As a result, business is in an upswing, even in a down market.”

The outlook:

Most business leaders indicated by their answers that they’re taking “one step forward and one step backward.” There may be a loosening of capital spending this year, or it may be that the slight increase (2.94 from 2.90) reflects the annual planning and budgeting process underway at most organizations between Labor Day and Thanksgiving, regardless of the organization’s fiscal year.

Responses showed that profitability remains a top near-term priority – as it has been for all of calendar 2002. And for the first time this year, the focus on profitability has overtaken the focus on revenue growth for the long-term outlook (49% focused on profitability versus 40% focused on revenue). We are making “service improvements,” says the leader of a public company, while another leader notes the “concern for getting value for payroll dollars [with] increased focus on pay for performance.”

Technology is playing a role in the return to recovery. Asked if the “investment in or reliance on technology helped you pull through the economic downturn,” 46% of those responding said that technology was helping to “drive growth.”

“Technology investment has lowered our costs,” says the chief executive of a public company. But 26% said other factors – “developing new business sectors,” “aggressive sales outreach,” “redefining marketing initiatives and expansion of product depth and breadth,” “globalization and commoditization of our products” – were key drivers.

“Technology helps,” said one leader, but it’s “not a key per se to survival.” Said another: “Our investment in technology has helped, but [has] not been a major factor. The downturn forced us to delay spending in additional technology upgrades.” Only 8% expressed “disappointment” in their technology investment.

“In our case,” says the chief executive of a private company, “what’s spurring growth is a technology back-end driven by IP [intellectual property] content on the front-end. We couldn’t do it without the technology, but the technology would be worthless without the IP.”

Proving that losses in technology markets have benefited other markets, a senior leader of a public company noted that, “the large movement of funds out of the technology sector into the safe banking sector has driven our business growth.”

Overall, the mood among business leaders is one of determination.

“We’re retail [and] our sales are down 20%,” says an executive of a public company. Others point to “increased interest” in their business offerings.

“The outlook will likely remain flat until revenue and profit reports start to improve for major companies,” says a private company leader, noting that “when that happens, the financial market may start to show signs of life. That will fuel optimism, hiring, spending, etc.” Reflecting the views of those looking for signs of a recovery in a post 9-11 environment, one leader said that, “If the climate remains stable, I believe we will see a return to solid growth by the end of the first half of 2003. This assumes we have no interruptions, i.e., terrorist attacks, war, etc.”

In summary, business leaders are doggedly determined to push forward. And responses indicate that near-term optimism is being dampened by a range of factors. But long-term optimism – even as it continues to be pushed farther into the future – still burns brightly. Says one chief executive: “Uncertainties drive innovation and creative response.”

Chart

http://www.leasingnews.org/images/index/Map.jpg

THE DECEMBER 31 OUTLOOK AMONG BUSINESS LEADERS RESPONDING TO THE SURVEY SHOWED SLIGHT INCREASES IN THREE KEY AREAS (EMPLOYMENT, CAP-EX, PROFIT) OVER 3Q SCORES, WHILE FOUR AREAS (REVENUE, BACKLOG, PRODUCT INTROS AND R&D SPENDING) POSTED SLIGHT DECREASES. THIS DATA TRANSLATES INTO A BUSTIN BUSINESS CLIMATE INDEX RANKING OF 3.22 (ON A SCALE OF 1 TO 5, WITH 5 THE TOP SCORE) FOR THE PERIOD ENDING DECEMBER 31 VERSUS 3.21 FOR SEPTEMBER 30. THE LONG-TERM RANKING OF 3.58 FOR THE PERIOD ENDING JUNE 30, 2003 MOVED FROM 3.59 FOR MARCH 31, 2003. THE SURVEY – INITIATED SEPTEMBER 2 AND COMPLETED SEPTEMBER 20 – GENERATED RESPONSES FROM LEADERS OF PUBLIC (20%) AND PRIVATE (70%) COMPANIES AS WELL AS FROM NON-PROFIT ORGANIZATIONS (10%).

Full on line version:

www.bustin.com

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BiT Web Group Joins ELA

elaonline.com

Boston, MA -Leading web self-service company, BiT Group, announces its’ membership in the Equipment Leasing Association (ELA). As one of the Equipment Leasing Association’s newest members, BiT Group offers valuable and practical solutions to some of the leasing industry’s frequent challenges of providing its’ customers with cost-effective online service and real-time access to their account information.

“The ELA serves as a source of education and best practices to the industry and we look forward to active participation” said Ann Cave, BiT Group’s Vice President of Sales and Marketing, “BiT Group’s participation in the ELA will also enable Leasing organizations to learn about our miAccount software and how they can realize benefits by reducing customer service costs through migrating transactions from the call center to the web. ”

miAccount, BiT Group’s newest software, is a web self service solution that provides 24/7 service to customers while maintaining secure and reliable transactions. Typical operations include viewing statements online, reviewing payment due dates and account balances, changing or updating customer information, making payments, filling out applications, and cross marketing.

About BiT Group

BiT Group, headquartered in Boston, MA, is a leading web self-service software company serving Fortune 1000 and mid-market companies across North America. Since 1995, BiT Group has been recognized as a leader in developing solutions for companies that recognize the strategic impact that Web solutions can have on their business. In 2001, BiT Group earned a ranking of #155 on the Inc. 500, Inc. Magazine's annual list of America's fastest growing privately held companies. More information about BiT Group and miAccount solutions can be found at www.bitgroup.com or by calling 617-946-0550

Sites of Reference:

http://www.bitgroup.com

CONTACT:

Ann Cave

BiT Group

Phone Number: 617-946-0550x264

E-mail: acave@bitgroup.com

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UAEL Fall Conference 2002---additional Reports from others who were there

Indeed your (Leasing News ) venues ( two workshops with seven Top Gun

“Panelists) were well attended. Meanwhile some other quality

education was being presented at last weeks (October 4 and 5 ) UAEL Annual Convention

Steve Jenkins and Jim Coston presented an excellent and practical class on

"Making and responding to demands to purchase brokered or assigned leases."

Being attorneys, they presented this from the standpoint that we

(brokers/discounters) have already signed our non-negotiable broker

agreements. The thrust was on what we can do in our in-house "due

diligence" to prevent the unthinkable from happening. Their handouts lead us

through the mine fields and added some intelligent cautionary tools to use.

These type of classes easily "pay" for my attendance at UAEL conferences.

No fluff, not Memorex, just the real thing. My thanks to them for a quality

presentation.

Next hour, I thoroughly enjoyed the Dwight Galloway,CLP presentation on

offering (selling) leasing services to "Community Banks". Dwight has been

thoroughly familiar with the Community Bank world throughout his career. He

offered the no nonsense approach to effectively selling and then retaining a

relationship with a loan officer that refers you business. He emphasized

some excellent tools loaded with caution about integrity, stark disclosure

about what we do and how, and maintaining above average communication. This

resource is not "just another vendor." He amplified dealing with their

constant fears in a super professional manner. Once again, Dwight really

gave of himself, and as you like to say "really let his hair down." Thanks

Dwight.

The CLP meeting was a high quality gathering of 18 CLPs filled with good

suggestions. The test is being rewritten. For the first time since the CLP

Foundation was formed, the new officers will be elected from the entire CLP

Membership this fall, now that the multi-association incubator period is

over. A review was offered of the structure and functional accomplishments

that have been achieved since UAEL brought the CLP to the entire leasing

community and other trade associations. The website www.clpfoundation.org

now offers complete information including data on future exam sites, the

mentor program, body of knowledge and is updated every week. I challenge

all of our leasing community to visit the site, get a mentor if you like,

set a personal goal to study for and take the test this year. Call Cindy

Spurdle, Executive Director, CLP Foundation for further information at

1-610-687-0213.

May the wind be at your back.............................

George J. Davis II, CLP (past president, UAEL )

Fortune Financial, Inc.

P O Box 590 Bend, OR 97709

541-388-3187

leasing@aol.com

(Thank you. As I stated, could not report on what we were unable to cover.

editor )

----

From Jeff Taylor on the UAEL Conference and Golf Tournament

(sent to his readership of 14,000 leasing executives )

Charles Dickens lived from 1812 -1870 and published The Christmas Carol (starring Ebenezer Scrooge) in 1843. For my article on the UAEL 2002 Conference in San Diego last weekend and my sitting for the Certified Leasing Professional exam, I would like to quote his opening lines (Note from Jeffrey : Please see my substitutions)

Old phrase New Phrase

Jacob Marley Old CLP

Ebenezer Scrooge The Leasing Marketplace

Was is

His opening lines are as follows:

“The old CLP is dead, to begin with. There is no doubt whatever about that. The register of its burial was signed by the clergyman, the clerk, the undertaker, and the chief mourner. The Leasing Marketplace signed it. And The Leasing Marketplace’s name was good upon 'Change, for anything he chose to put his hand to.

“Old CLP was as dead as a door-nail.

“Mind! I don't mean to say that I know, of my own knowledge, what there is particularly dead about a door-nail. I might have been inclined, myself, to regard a coffin-nail as the deadest piece of ironmongery in the trade. But the wisdom of our ancestors is in the simile; and my unhallowed hands shall not disturb it, or the Country's done for. You will therefore permit me to repeat, emphatically, that the old CLP is as dead as a door-nail.”.

-----

First, let’s talk about the convention. I had a lot of fun. So did the other 240 plus people who attended (official registration was close to 300 but I think that included vendors who had booths).

Unlike prior Eastern Association of Equipment Lessor and Equipment Leasing Association meetings that I attended this year, UAEL (United Association of Equipment Lessors) designed a meeting that met or exceeded everyone’s expectations. For that, I have to congratulate John Kruse of Capital Stream. He was not only innovative in his execution of the program but imaginative and creative when it came to, bottom-line, getting people to attend.

The program included two outside speakers who taught me how to listen better and how to deal with people. The admiral (Rear Admiral William E. Newman, US Navy, retired) said something that still resonates in my thoughts:

· Know your job

· Know your people

· Take care of your people

I have been reworking his thought and still cannot come up with a better phrase. I guess that is why he made Admiral and I am still a WTBCLP (want to be Certified Leasing Professional).

Thursday started out O.K. with my sitting in on a CLP Test Review Class. The morning lecture, conducted by Bob Teichman went well. The afternoon session was conducted by a gentleman who, in my mind, did not have the proper credentials to lecture to me. I queried the other students who told me that I was overreacting, which is common. Nonetheless, I still felt the need to return to my room and study on my own.

UAEL hosted a cocktail party that evening and the food, drink, company, and view were spectacular. San Diego has some great charm. Four days of perfect weather. It really is amazing how nature adapts to its environment. Throw a piece of bread down in Central Park and the squirrels will attack the robins who attack the ducks to get a piece of the action. In San Diego, throw a piece of bread in the water and they all take turns at the bar.

Friday morning and afternoon turned to vendors. I like what John did by having no competition against the vendors. Vendors were excited to see so many people and get a lot of leads. Unfortunately, prospects were more interested in the sun in the afternoon so I filled up vendor time with asking them how they felt about the economy. Most of them were optimistically hopeful.

At the workshop on Saturday morning, I talked about leadership and how to deal with change in this bottomless economy.

At the end of the day I sat in the hotel lobby of the Sheraton Marina and spent quality time with Ken Goodman, CLP, and John Haas, CLP (former partners, still now good friends. editor) who helped me analyze the upcoming exam. (Note from Jeffrey : Ken and John are bright, a pleasure to listen to and make me laugh). Bob Teichman, CLP, Steve Geller, CLP, Andrew Alper,CLP, Bob Baker, CLP, Jim Lahti, CLP (president of the CLP Foundation ) and John Kruse, CLP ( CapitalStream/SanDiego Conference Chairman ), stopped by to rattle my nerves. At one point, Ken said that he was putting together a syndicate to publish an ad in the Wall Street Journal if I failed. I told him that his business would double if I didn’t pass.

((Note from Jeffrey: Cindy Spurdle ( CLP foundation executive director ) cannot be spiffed.) )

Sunday Morning

After having taken a sleeping pill the night before, I wake up at 6:00 A.M. I missed most of the Saturday night party except for two light beers and some great conversation. But I felt the need to go to bed early in order to prepare myself for, what I believed, was going to be an elevator ride to hell.

After a high protein, low carb breakfast, and a quadruple shot of expresso, I was ready to attack the exam.

After 6 hours of tests plus four 10-minute breaks, my fingers fell off my hand. I do not remember the last time I was that emotionally and physically exhausted.

I felt the exam was fair, yet tough. Complex yet appropriate. Balanced and professional. They tell me that I will hear in 6-8 weeks since the exam is graded in parts by different CLPs member throughout the U.S.

My attitude towards CLP has turned 180 degrees. Why? I credit one man and one man only. His name is Jim Lahti, CLP (foundatioin chairman). I do not know him well. But, he convinced me that I needed to help the CLP become more professional and more up-to-date. I spent time with Cindy Spurdle and Nancy Geary, who is on the CLP rewrite committee and learned about what happened to CLP over the years. In one way, it is a shame. In another way, I believe, that you have to fail before you become successful.

I plan to participate in helping develop the new exam and encourage others to do so as well.

I heard that we have 232 CLPs to date and that we need to reach 500 before we get Mike Fleming (president)of ELA to see its value. Ken Goodman told me that he sees tremendous growth in CLPs if our industry gets regulated.

‘

Hindsight is everthing. I tell people that there is no concept called truth, only perceptions. Maybe I was wrong. Maybe I was nervous. Maybe I was just being myself (Note from Jeffrey : some people think I am arrogant. I have a hard time believing that) . Nonetheless, I am glad to have it behind me and plan to replevin back to my former life as a pariah. Although, I hope to ex parte at the next UAEL Spring event in Palm Springs.

(Final note from Jeffrey: UAEL provides two free drink tickets for events and then starts charging for drinks. I am willing to pay anyone 50 cents for drink tickets - no questions asked).

Editor’s Note: the first speaker not mentioned but referred to in this article was Scott Hunter, www.relationshipis the key.com. For the full story and complete

newsletter from Jeff Taylor, please go to:

Complete Newsletter from Jeff Taylor, please go to:

http://www.leasingnews.org/articles.doc/Newsletter_10-7.htm

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American Bank Announces the Opening of a Leasing Division

SILVER SPRING, Md--American Bank (OTCBB:BKMD) Silver Spring, Maryland, announced today the formation of a leasing division in Charlotte, North Carolina.

American Bank has hired Chuck Ledford and Terry Foy to staff the newly formed equipment and vehicle Leasing Division to be headquartered in Charlotte, North Carolina.

Mr. Ledford has over 31 years of experience in the equipment and vehicle leasing field, in the North Carolina market, particularly, the Charlotte market. Previously he was an Executive Vice President of Park Meridian Bank, located in Charlotte, North Carolina and President of that bank's leasing company.

Ms. Foy has been in the leasing field since joining Mr. Ledford in 1985 at First Charlotte Bank. Ms. Foy was most recently a Vice President of Park Meridian Bank in charge of lease operations and administration.

American Bank has been active in real estate financing in the Charlotte, North Carolina area for over four years.

Phillip Bowman, President and CEO of the Bank, stated that the opportunity to have two such experienced leasing professionals join our company was the deciding factor in our decision to move forward with a new product line and headquarter the leasing operations in Charlotte, North Carolina.

CONTACT:

American Bank

Phillip C. Bowman, 301/572-3740

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Technology Stocks in Silicon Valley

Don't know if you caught this, but Dan Gillmor expresses what many of us

professionals feel who have worked hard and ethically, only to see our

retirement investments tank. With a government run by ex-CEO's I'm not

optimistic (remember when we all thought bringing experienced business types

into government would solve all our problems?). I've been in Silicon Valley

leasing for over 25 years, starting HP's first programs (long before Carly

killed "the HP Way"). I guess I'm getting old, but it is better losing

sleep over declining investments than worrying if I'll get caught cooking

the books.

Ron Bannerman

ePlus, inc.

rbannerman@eplus.com

DAN GILLMOR ON TECHNOLOGY

San Jose Mercury-News

E-mail Dan at dgillmor@sjmercury.com

_____________________________

There's progress in crackdown on corruption, but stay cautious

If your disgust level has been rising over the corruption in the

equities markets, last week should have been mildly

satisfying. You witnessed a parade of criminal charges,

scathing reports and fury from people in a position to

do something about the sleaze.

But if you have retained the skepticism you need in

today's world, you'll remain cautious. Too many powerful

people in this country still act as though the rules don't

apply to them.

The Enron scam produced the highest-ranking indictment,

as the company's apparently larcenous former chief

financial offi