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About the company: SCL has been in business for 12 years. We are contracted with multiple funding sources which enables us to provide more competitive rates and flexible terms and conditions. |
Tuesday,
September 21, 2004
Headlines---
Bulletin
Board Complaint—Titus Holding, Eureka, Montana
"Marketing
to Lessees: Perception is Reality?"
Normally
Sluggish August Brings Robust ABS
EFG
Secures Senior Credit Facility
American
Lease Insurance Expands Into New HQ
######## surrounding the article denotes it is a “press
release”
-------------------------------------------------------------------------------
|
Your
One stop solution for training and reference material for the
Leasing Professional
www.theleasinglibrary.com |
Classified
Ads---Sales
Atlanta, GA.
15 years BD experience
in small/mid ticket leasing. Strong cross section book of business w/extensive
customer base of
Email: flowageman@aol.com
Atlanta GA.
10 years experience as bank, vendor and outside leasing rep (GE, ABN AMRO, etc.), strong resume, demonstrated track record of success, unique professional leader with personality.
Email: gkealey2004@yahoo.com
Bakersfield, CA.
I have an extensive
sales and management background in equipment leasing. My work history
exhibits my major strength in small ticket equipment leasing. Email:
pangress@msn.com
Boston, MA.
Middle market originator,
construction/Trucks /
Email: mrichlease@comcast.net
Cedar Rapids,
IA.
Formally trained
in Credit, Collections, & Sales with regional bank. Seeking sales
or sales management. Over ten years in SM,
vendor and end user.
Email: mjrprime@yahoo.com
Cedar Rapids, IA.
Formally trained in Credit, Collections, & Sales with regional bank. Seeking sales or sales management. Over ten years in SM, vendor and end user.
E mail: mjrprime@yahoo.com
Central, NC.
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base.
Email: sunriseleasing@aol.com
Chicago, IL.
12+ yrs multinational/ national sales & business development. Seeking role with captive lessor or global leasing company. Will relo right opportunity. Experience structuring complex transactions.
Email: leasingismylife@yahoo.com
Dallas, TX
30 years lease experience.
Looking for Lender wanting to get into the Electronic Market can bring
11 years experience with national
vendors and customers.
Email: alpnb@msn.com
Denver CO.
Experienced Equipment
Leasing Broker looking for a in house leasing company. Can bring a book
of business with me or develop new territory where needed. Email: Steven@eagle2.net
Detroit Mi
5 yrs sales experience in IT small ticket leasing/Greenbelt Certified with Fortune 100 company/strong communication and negotiation skills/book of business available.
Email: scottpoko@comcast.net
Greensboro, N.C.
Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly.
Email: kc1492@aol.com
Kansas City, MO.
15+ years in finance/leasing
industry, extensive knowledge in sales and management. Specializing
in construction,
Email: Financerep@aol.com
Kansas City, MO.
20 years Senior Sales/Management experience in small ticket/government leasing. Program Management experience, managing 12 Reps. Credit Auth to $50K. Success in soliciting and maintaining accounts.
Email: dhundley1@kc.rr.com
Los Angeles, CA.
12+years Leasing sales, underwriting/contract exper. including hi-tech, govt, direct & vendor leasing. Seeking role w/institution or captive. Exper. w/ complex transactions, including securities. Possible relocation.
Email: rahlease04@hotmail.com
Louisville, KY
27 years veteran
of the construction, machine tool, manufacturing and transportation
market. Located in Louisville , KY willing to transfer for the right
company. Looking for full time employment with base and benefits. Email:
jim_jrd@msn.com
Resume
http://64.125.68.90/LeasingNews/Resumes/James
%20Denhard%2004-CT%20Resume.pdf
| Cover letter http://64.125.68.90/LeasingNews/Resumes/Cover%20Letter%2004.pdf
Mission Viejo,
CA
Account Sales Executive
with 10 years of leasing experience looking for company to bring existing
customer base.
Email: makelly21@hotmail.com
Montgomery, AL.
Individual with 10
years advertising sales exp. & 7 years insurance sales exp. Wants
independent contractor situation in Alabama.
Work with leasing company or broker.334-281- 5200
E-mail: billmcneal2003@yahoo.com
Nashua, NH.
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England.
E-mail: RPepa@aol.com
Orange County,
CA.
Skilled deal-closer at above-average rates. Entrepreneurial. Accomplished lease-structurer specializing in transportation. Exp. in direct/ captive & syndicator environments servicing vendors, brokers, & end-users.
Email: originator@sbcglobal.net
Philadelphia , PA
Seeking an open opportunity to advance in the automotive, commercial
leasing & finance industry.........
Email: alexe362002@yahoo.com
Portland, OR.
"Exp. In direct
sales and sales mgmt.
Email: pthygeson@netscape.net"
Prairie Village, KS
Have substantial
deal flow and database of broker referral sources. Generated and closed
over $22M LY. Seeking exclusive relationship w/direct founder. Email:
fiergl@aol.com
Princeton, NJ:
Regional Sales Manager: Last 15 years with captive. Knowledgeable in all aspects of leasing. Application to funding. Worked with 25 salespeople -
east coast.
Email: denisregan@msn.com
San Bernardino,
CA.
Account executive
w/4 years exp. in small ticket &lower end middle market lease transactions,
Outstanding ACT database compiled of over 500 vendors. Seeking a career
driven position w/a reputable lessor
Email: moneytoloan@hotmail.com
San Francisco
Bay Area, CA
10+ yrs in middle
market leasing. Seek direct lessor only. Transaction size from $500M
to $10.0MM. Client base: printing, food, retail, manufacturing. Email:
edm173@sbcglobal.net
SF Bay Area, CA.
15+ yrs--mid mkt.
$500M to $10.0MM. Seeking role w/ captive or global leasing firm. large
book to bring with me! Debt, tax, 1st amendment, etc. Email: lac4002@yahoo.com
San Francisco,
CA.
Business Development "Hunter" with 20 years experience, 5 ½ in development of CONTRACTUALLY BASED VENDOR PROGRAMS primarily in high tech. Can bring rolodex, not programs.
E-mail: BizDev7@aol.com
San Francisco,
CA.
18 years of sales production, the last 10 in technology leasing to both traditional and emerging growth credits. Seeking direct funder.
I can close for you!
Email: bamrborges@msn.com
South Central
U.S.
TX, OK, KS &
AR Territory.
Equipment finance
and leasing professional,
Email: leasingrep2004@yahoo.com
Tampa, FL.
27 years experience. Very adept in bank lease programs and direct sales in MM/LT. Looking to re-enter the industry. Will relocate to Texas. Hungry.
Email: cwilliams@triit.com
95 Classified ads “jobs wanted” at:
http://64.125.68.90/LeasingNews/JobPostings.htm#sec8
-------------------------------------------------------------------------
Bulletin
Board Complaint—Titus Holding, Eureka, Montana
Brett Tate, president
of Titus Holding, in his letter of April 9,2002,
said his company
was in “its seventh successful year of commercial
equipment acquisitions...We
share a direct line of communication with you and your customers ( no
sales reps. or brokers). This association affords us the ability to
graciously compensate you for your lease finance referrals.
We offer a 10% referral allowance on each individual invoice
amount...Our reputation was founded on Integrity, Professionalism, and
Commitment to Excellence.”
Bryan L. Brooks of
Bryan Brooks & Associates, Fort Collins, Colorado
doesn’t think so. He is owed $8,500. He provided the customer and
Caterpillar 938F
Wheel Loader S/N 1KM01213, which Titus Holdings sold to Tuel Tractor
Company. From here Quail Capital and Santa
Barbara Bank &
Trust entertained a transaction that involved the
Caterpillar 938F
Wheel Loader S/N 1KMO1213.
According to documents
submitted, Santa Barbara Bank & Trust
believes they have
title to the equipment, and it appears Mr. Brooks
may have a valid
dispute with Titus Holdings.
In a letter dated
February 27,2003, Jane Tate, with the title of
office manager, said
Titus Holdings, Inc had accepted $60,000“...as payment for the 988F. The balance of $8,500.00 payable according
to the before mentioned date is our offer.”
Titus by the way had sold
the unit to Tuel
Tractor for $68,500.
In the start of this
complaint, parties in Colorado and Montana were
difficult to reach. Mr. Tate was allegedly involved in a car accident
and had promised
to pay the $8,500.
The telephone does
not answer today and all correspondence
comes back. Mr. Brooks
is out the $8,500, plus the expenses
of hiring an attorney
to try to collect the money owed.
-------------------------------------------------------------------------------
"Marketing
to Lessees: Perception is Reality?"
ELT News
Last week, the Equipment
Leasing Association hosted a teleseminar on Understanding Lessee Perceptions
For Marketing Success. Joe Lane of Bay4Capital moderated the panel,
which included Christopher Swann, Ph.D. of Global Insight, Lori Dixon,
Ph.D., of Great Lakes Marketing, and Ted Brownrigg of Financial Pacific
Leasing and William Verhelle, Esq. of First American Equipment Finance.
The discussion blended
objective and subjective research results, showing a variety of perspectives
on how lessees view leasing and lessors’ marketing efforts. Brownrigg
and Verhelle also offered impressions of their own marketing effort
successes.
Christopher Swann
began by sharing results of the recent Global Insight study titled The
Benefits Of Leasing -- Value And Market Perceptions. Swann focused on
how leasing is perceived in the marketplace, how perceptions turn into
choices and how those choices become marketshare.
“We found out what
lessees want,” Swann said on the call. “We found that lessors could
increase market share if they were willing to do some particular things,
including simplifying documents, simplifying contracts, specifically
reducing surprises, sustaining their speed of equipment delivery, and
maintaining a continuous relationship between lessor and lessee. They
clearly want a long term relationship.”
Swann noted that
the market for equipment was $833 billion in 2003 (sourced from the
Bureau of Economic Analysis. The figure includes business spending only,
not consumer spending.
“What is interesting
is we found that 39 percent is indifferent to acquisition method,” said
Swann. “This means those equipment acquirers are not wedded to leasing
or purchasing. We found most businesses are amenable to leasing, even
the hard core purchasers. Lessors have an opportunity there,” he said,
but to remember what they appreciate—consistent, fast service— and don’t
appreciate—lease documentation.
William Verhelle
of First American Equipment Finance, who shared his company’s approach
to understanding customers, agreed that anything that will reduce the
customer’s staff time is highly valued. “Any time you can simplify paperwork
and use straightforward terms is highly valued.”
Swann also said,
“The tendency for small to medium size firms is to acquire a narrow
range of equipment, mostly computer and office equipment. This also
may be an opportunity for leasing to penetrate their additional equipment
needs.” A teleseminar “quick poll,” which allowed listeners to vote
on whether they agreed or disagreed with a statement made, showed that
most of the 67 listeners agreed that this opportunity does exist.
Lori Dixon of Great
Lakes Marketing the provided results of a recent study she concluded
earlier in the year, which conducted in-depth interviews of 12 CFOs
from a variety of industries. She noted the significant difficulty in
reaching this important audience.
“We purchased a list
of 211 companies with sales of $500 million or more. More than 480 calls
made in order to complete the 12 interviews,” she said. “They are hard
to reach.”
Dixon shared that
the purpose of the study was to evaluate ELA’s marketing messages and
understand CFO attitudes and experiences. Key findings show that all
the CFOs were familiar with leasing and cited leasing as the best option
in only certain, specific financial situations. The CFO audience said
they would first assess the asset obsolescence timeframe and then work
to understand the company’s cash flow and financing options.
“Interestingly, their
impressions of leasing was based on personal and company experience,
and not based on what they read in the press,” said Dixon.
Additionally, Dixon’s
research showed that the CFO group was evenly divided as to whether
or not leasing was a good strategy or not. Those in favor cited conservation
of cash and avoiding obsolescence as key benefits. Opponents to leasing
cited higher cost as reasons not to lease. “They all expressed words
of caution when evaluating leasing, ensuring the person understands
all the costs, tax consequences and their option under the terms of
the lease,” she said.
Several messages
were tested with the 12 CFOs. The words that garnered the most positive
perception included “cash flow,” “cash effective” and “liquidity.” The
words that didn’t incite their interest as much included “rate” and
“deal.”
The phrases that
most interested the CFOs included, “Leasing is flexible with its customized
structures, such as custom payments, cyclical payments, master leases,
and other” and “leasing allows for cash conservation,” and “corporate
planning for economic recovery shows include flexible financing options.”
When polled, 49 percent of the teleseminar’s listeners agreed that those
were good statements to use with lessees. Just 27 percent agreed the
statements were “somewhat” good.
“But, because most
impressions of the CFOs come from their own experience with leasing,
it is clear generic messages about leasing will not work,” said Dixon.
“They want specific information on leasing to help them decide the leasing
option. When marketing, it is important to know the kinds of leases
the customer has dealt with in the past.
“Additionally, leasing
should be marketed as an option. They are not receptive to messages
that depict leasing as the best or the only option,” noted Dixon. “The
ultimate goal would be to match messages with their real world experiences.”
Ted Brownrigg of
Financial Pacific Leasing, which focuses on higher risk, high yield
transactions, also shared his experiences with marketing leasing.
“We find customers
willing to put a lot of faith into the sales person,” said Brownrigg.
“Unfortunately, it is not capitalized on enough. They don’t get straight
enough information and follow-up is poor. But we see a huge opportunity
among small businesses if we can improve this.
-----------------------------------------------------------------
Salesman
Pay Survey Up-Date
Today it appears
the industry average for salesmen who work for companies that “discount”
their leases ( sell their lease contracts to others ) is approximately
50% of the profit. This is the
present value of the lease contract, less funders discount charges. Many are paid a percentage
of the override is fees charged, such as for documentation, site inspections,
etc.
Some provide other
expenses, such as health benefits, travel, but that is not common. A few will pay up to 60% over a “quota.”
One company did report
paying 30%, but all expenses, health,
medical, and when
the residual was received, 30% of the residual,
if the salesperson
was still working for the company. ( This company
is no longer in business
.) Another paid 45%, and when the quota was exceeded, 55%.
Volume was basically
$10,000 to $20,000 in gross profits per
month ( less processing
fees ), meaning the salesmen made anywhere from $60,000 to $120,000
a year, averaging $80,000 per year.
As anywhere, 20% of the salesmen made in excess of $120,000 per
year, always exceeding quota.
All were paid a draw
against the commission in either by-monthly or
monthly installments
with charge backs against quota not met; often
implied. Most were
not given “house accounts”, but relied on their
production of signed
leases.
The industry average
for salesmen who work for companies who act as lessors, not selling
or discounting their lease contracts, is more complex to state due to
the various volume requirements for
salesman. The main difference is “rate” versus “volume.”
Lessor salesmen generally have accounts that the lessor services
and remuneration
is not on the difference between the rate of the lease, but primarily
on the volume of transactions.
Most salesmen here
earn a base salary versus a draw. They
are paid in excess of making their quota, or an additional percentage
based on volume.
Where minimum volume
was $6 million, .0075 to .008 was common,
or $45,000 per year. A report of .02 on volume over $200,000 was
stated, meaning the
quota was $2.4 million a year in sales for the base
salary.
One salesman reported
making $50,000. plus.0025% of volume. He was hoping to make $100,000,
meaning his goal was $20 million a year.
It appears the average
lessor salesman must produce $10 million a year. This figure, of course,
is based on the market. Larger
ticket or smaller tickets have a different ratio.
To sum up the remuneration schedule to satisfy all requirements
would take many, many more pages than this report. Again, this report
is from our readers.
It was also reported
that transaction the lessor did not carry, probably for credit reasons,
were either brokered by the company, giving a split of 30% to 50%, or
as the circumstance with many, some approved by the company, such as
practiced formerly by Sierra Cities, the salesmen could send to another
source and received the total commission.
It was not reported if this is common wide in the industry for
lessors.
In the 1970’s, most
leasing companies had salesmen who handled
“house” accounts,
this changed in the 1980’s with the growth of
brokers who worked
solely for a “commission.” The
1990’s saw
the growth of “super
brokers,” who funneled other brokers transactions for a commission. In addition, many funders were in essence super brokers, discounting transactions
for the present value, often including the residual in the discount
or pledge of the contract.
Discount Response:
From your survey
it appears that we may be giving the shop away.
We have a very simple commission only program. As a small to mid ticket lessor broker/discounter we pay 50% of
the gross fee on the
transaction. Higher amounts up to 60% are paid to consistent
producers, We pay every Friday for deals that fund that
week. We
provide complete
office and back room processing and pay for all internal costs such
as D&B, CBR, rent, phone,
overnight etc.. Salesman pay for all external costs such as
entertainment and travel. We
share in all promotional and trade show expenses.
We will work with established, proven producers for a few months
should a draw be necessary and we are always interested in finding new
talent.
+++\\
Our sales reps earn
50% of GP on all transactions. We provide office, phone, internet, marketing
and trade show reimbursement. We have a credit, documentation and funding
staff to handle most of the non-selling processes. In addition we do
a draw on future commissions if a rep is new. Our monthly bonus plan
is $240 over $7500 (which is the reps 1/2) and $600 over $10,000 . Quarterly
bonus is $720 over $22,500 and $1800 over $30,000. If a rep hits $100,000
annually then the company provides a $600 per month car
reimbursement for the entire next year. We feel we have an aggressive
compensation package because we want all of our people to succeed. We
are nothing without our people who got us here. Oh yeah we also have
a condo in Vail available to all our staff and reps to use at no cost.
We are currently attempting
to create a way to
pass ownership to super stars as well, but have not finalized it as
of yet.
++++
We pay our sales
reps 50% of the GP after inspections, UCC's and routine office costs. We also pay for marketing and promotion items,
business cards, brochures, handouts, mailings, etc, etc.
The reps responsibility
is to bring in the business and that is it. I do not require a monthly
volume, but do ask that they stay in contact, preferably in person,
with any customer or vendor once a month at least.
I price, doc, close and fund the deals. All they do is make the
contact.
Any deal originated
or referred by that salesperson's vendor or customer is theirs even
if they haven't talked with them about the specific deal.
Average annual compensation
is usually 50 to 65K, but the opportunity is unlimited. We are presently
looking for reps in northern New Jersey and western NY and eastern PA.
+ + +
Here we make no salary,
45% of the gross margin on $1.00 residual deals, and 55% of the GM on
the deals that we retain the FMV or 10% residual.
We make 100% of the doc fee over what our sources charge and
a draw is available on a case by case basis.
++++
I pay my in-house
sales people as follows: Base
Salary of 30K per year. this covers the first $5,000 in GP.
I allocate 50% of any deal the generate themselves and 10% of
the GP on any house deal that I assign to them to help them cover the
first $5,000 in GP. On the second
5,000 in GP the sales rep earns 25% and 40 % on any GP generated after
that. A rep working for me can justify their existence
at about $800K per year in volume.
They will make $45-50K at $100K per month in volume and about
$75K at $150K per month in
volume.
+++
We get 35% of the first $10,000 per month in gross that we bring
into the company. We get 45%
above $10,000 and 50% above $18,000 per month.
We split document fees over the amount required
in the approval. It is all commission,
no guarantee.
+++
We compensated salespeople
with a 50% split of the
gross commission
due on the leasing transaction. The
salespeople generally had use of our office space, and we paid for special
promotions. In addition, we
provided an auto allowance of $300 per month, and a telephone allowance
of $150 per month. We found
it necessary, in virtually all cases, to provide the salespeople with
a draw against future earned commissions.
We found that even our most experienced salespeople did not break-even
on this arrangement until they were employed with us at least three
years.
The most generous
compensation program I have first-hand knowledge of provides the leasing
salespeople with 65% of the gross transaction commission. This company, a longtime, successful leasing
broker, also provides office space, use of telephone, and the payment
of advertising promotions.
In fairness to all
leasing salespeople, their compensation potential depends as much on
their company's access to capital, and flexible financing plans, as
it does on their individual sales ability and work ethic.
In our case, at just the time our salespeople began to realize
their individual potential, their ability to grow their earnings was
drastically curtailed by our loss of bank funding.
Your ability to cultivate
vendor and lessee relationships depends to a great degree on your company's
ability to deliver on its credit program and funding promises. Unfortunately, in today's economic and leasing
environment, the only thing you can count on is uncertainty.
---
Working for a tech
company, as the Leasing Manager
in a captive scenario I find am in the a middle of the road in you compensation
survey. I am paid a base salary
of 45K, .0075 of volume on deals
until I hit 50% of a 6MM quota. Over 50%, I am bumped to .1025 on volume. I also receive 33% of GP on fee income from
transactions. Volume Commissions
paid out monthly, and Fee commission paid out at the end of each quarter
(the bonus incentive).
+++
I work for a leasing
sub. of a large foreign bank. Mostly small ticket. Bases are in the
30's-40's depending on experience. We get .008 of volume with a kicker
on spreads that exceed 50 over.
Quotas are $6mm-10mm depending on territory.
++++
$50K base
.25% of volume
Cell phone paid for.
He should be making
$100,000-
++++
As a sales rep, with
4 years experience I make a base salary of $48k with a chance to make
commission once I make more money for the company than it takes to keep
my seat, i.e. $4000 per month. It seemed to be online with the Advanta
commission plan but unless you really generate
volume you cannot realize commission.
++++
We pay 2% of equipment
volume in compensation. Generally
there is a base of $48K and the 2% commish is paid for volume over $200K. They also earn 25% of the fee of any brokered
deal they bring in. The 25% split of broker income is independent of
our funded equipment volume We pay monthly though will probably shift to
quarterly.
+++
Around here, be it
small ticket or big ticket, I believe all the lease
origination personnel
have had a base salary and then a bonus once a certain minimum volume
was done on a monthly (for the small ticket group) or annual (for the
large ticket group) basis. Our
most experienced and senior large ticket salesperson makes well into
the 6 figure range I've heard but they consistently book volume in the
tens of millions each year. I think all our large ticket group that
have been here two or more years each make over $100,000 per year between
base and bonus.
Our small ticket
people have had the potential to make six figures but it has always
been heavily volume dependent.
There are several
different bases, based on whether or not they hit their bogey for the
year or month. Bonus is only
paid once minimum target volume is reached.
If someone is not
hitting their target within a year around here they
usually let them
go.
Commission structure . . .
Our general compensation
plan for salespersons is 50% of the
gross profit commissions
on a deal that they bring to the
table and 35% on
a "house" deal.
We pay for virtually
everything; telephone, marketing,
trade-shows, travel,
computer, etc., etc. While we have paid
for health insurance
in the past, we do not currently
do so (times are
tough!).
Only very extra-ordinary,
deal-specific, expenses are deducted
from the gross commissions
for purposes of calculating a
salespersons commission
on a deal.
Readers who want
to contribute to this, we will with hold your
name so you may be
more candid---or if you would like us
to quote you with
your name, please let us know. editor
-----------------------------------------------------------------------------
Classified
ads---Help Wanted
|
About the company: SCL has been in business for 12 years. We are contracted with multiple funding sources which enables us to provide more competitive rates and flexible terms and conditions. |
CFO / Leasing Sales Leader
|
Dealer Credit Finance Analyst / Dealer Credit Finance Services Supervisor
|
Dealer Credit Fin. Services Supervisor, Torrance, CA. Click here for full descrip. & to apply. To learn more about us, please visit: www.toyotafinancial.com/careers |
Controller / Vendor Sales Specialist/ Entry Level Accountant
|
-------------------------------------------------------------------------------
### Press Release
##############################
Fitch: Normally Sluggish August Brings Robust U.S.
Term
ABS Rating Activity
NEW YORK----A characteristically
slow month was actually a busy one for the term asset-backed securities
sector as Fitch Ratings reported 42 downgrades and 25 upgrades for August,
this after a two-month hiatus in which no term ABS rating activity took
place.
'With 25 aircraft ABS and 15 franchise loan ABS downgrades for
the month, Fitch expects future volatility from these sectors due to
persistent industry weakness, while performance in equipment leasing
is expected to remain stable to positive, ,' said Kevin D'Albert, Director,
Fitch Ratings. 'Despite the sluggish labor market and a drop in consumer
confidence, however, term ABS credit performance remains stable and
negative rating activity remains sector-specific.'
All August upgrades came form the auto ABS sector and were due
largely to improved available credit enhancement levels, with favorable
economic and sector fundamentals likely to continue for the remainder
of 2004.
Year-to-date, Fitch has issued 78 upgrades and 211 downgrades,
compared with 32 upgrades and 914 downgrades during the same period
in 2003. To date upgrades have occurred in the auto (38), equipment
(29), credit cards (six) and student loan (five) sectors, while equipment
(103), aircraft (41), tobacco (40), franchise (22) and student loans
(five) have encompassed the negative rating activity.
The term ABS Credit Action Report (CAR) presents monthly and year-to-date
credit rating statistics for term consumer and commercial ABS products.
Coverage of consumer assets includes auto, credit card, student loans,
and time share receivables, while commercial-related assets include
aircraft, equipment, franchise loan, health care, small business loan,
and tobacco settlements. In addition, the report discusses credit issues
affecting the term ABS market and lists current presale reports and
gives details about other ABS credit research. The 'Term ABS Credit
Action Report: August 2004' available on the Fitch Ratings web site
at 'www.fitchratings.com'.
CONTACT:Fitch Ratings
Kevin D'Albert, 212-908-0823 Chris Mrazek, 212-908-0667 (New York) Media
Relations: Sandro Scenga, 212-908-0278 (New York)
### Press Release
#############################
Equipment
Financing Group, Inc. Secures Senior Credit Facility
Equipment Financing
Group, Inc., Fresno, Ca, has entered into an agreement with the Wachovia
Bank Group. Wachovia will provide EFG with a Senior Revolving Credit
Facility to fund new lease transactions. For additional information
on this program please contact Morgan Bennett.
Morgan Bennett reported
the facility would end EFG’s ever expanding need for additional debt
sources. Equipment Financing Group, Inc. has shown a 131% increase in
lease revenue year to date compared to the same period in 2003. This
increase was attributed to lower cost of funds, new Corp-only programs,
and new deferred payment options being offered to our sources.
EQUIPMENT FINANCING
GROUP, INC.
Equipment Financing
Group, Inc. (www.efglease.com)
is a leading small ticket funding source located in Fresno California.
The company operates additional offices in Los Angeles, Michigan, and
Pennsylvania. Started in 1992 the company has shown tremendous growth
in the last 12 months. Equipment Financing Group, Inc. also plans to
launch it’s new automated application site on October, 5th.
All trademarks, service
marks and company names are the property of Equipment Financing Group,
Inc.
For Additional information:
Contact: Morgan Bennett,
Media Contact
1617 W. Shaw Ave
Suite #F & #H
Fresno, CA. 93711
E-mail: mbennett@efginc.net
Phone: 888-808-3065
ext #15
Fax: 888-808-5005
### Press Release
##########################
American
Lease Insurance Expands Into New Headquarters
SUNDERLAND, MA –
American Lease Insurance (ALI) has recently moved into new corporate
headquarters here. Designed by award-winning architect Turner Brooks
of New Haven, Connecticut, the ALI building is nestled among mature
trees overlooking a trout pond, on a site that has been carefully planned
to accommodate additional construction for future growth. Its location,
45 minutes north of Hartford, Connecticut in the midst of the “Five
College Area” that includes the University of Massachusetts, Amherst
College, Hampshire College, Mt. Holyoke College and Smith College, will
facilitate meeting ALI’s increasing staffing needs.
According to president
Steve Dinkelaker. “We count on the excellent employment pool here. Though
our program is highly automated, the customer service with which we
support it is individualized, and the issues we encounter are not readily
simplified,” he explains. “Our people must quickly develop an understanding
of the industry, so they can appropriately handle complex situations,”
he remarks. “That’s what our customers rely on.”
The ALI program provides
comprehensive property and liability coverage on portfolios of small-ticket
equipment, valued at or below $250,000, from the day the lease is funded.
The program also tracks insurance to ensure lessees who choose to arrange
insurance on their own maintain adequate coverage. Through the customized
program, integrated with all major lease accounting software programs,
insurance charges are billed to lessees monthly. There are no lessor
premium advances. Superior coverage, competitive insurance charges,
and a thorough collections protocol have resulted in unmatched program
acceptance rates.
Dinkelaker summarizes
the reasons for ALI’s progress: “Few small-ticket lessors have the resources
to effectively track insurance coverage. The ALI program supplies systematic
tracking, integrated billing, full collections follow-up – and better
customer service. We are currently providing tracking and/or insurance
coverage on nearly 100,000 leases – and project to double that number
in the next 12 months.”
Dinkelaker, a licensed
insurance agent and broker credited with the “invention” of lease insurance,
founded ALI in 2000. He has created, implemented, and managed lease
insurance programs for almost all of the major small-ticket leasing
companies in the nation. ALI is a member of the Equipment Leasing Association,
the Eastern Association of Equipment Lessors, the United Association
of Equipment Leasing, and the National Association of Equipment Leasing
Brokers. ALI is also the corporate sponsor of the Equipment Leasing
and Financing Foundation’s annual Industry Future Council.
CONTACT:
STEVE DINKELAKER
Phone Number: 888-521-6568
x 245
### Press Release
#########################
--------------------------------------------------------------------------
News
Briefs----
FBI: Mortgage fraud
is rampant in U.S
http://www.boston.com/business/articles/2004/09/20/
fbi_mortgage_fraud_is_rampant_in_us/
Fed expected to boost
rates again
http://www.usatoday.com/money/economy/fed/rates
Winner of November
Election Will Get to Pick Greenspan's Successor
http://www.washingtonpost.com/wp-dyn/articles/A36876-2004Sep20.html
Internet advertising
revenues jump 40 percent
http://www.usatoday.com/money/advertising/2004-09-20-net-ads-up_x.htm
------------------------------------------------------------------------------
Sports
Briefs---
Eagles turn back Vikings
http://www.philly.com/mld/philly/sports/9718382.htm?1c
Rice's streak ends in Raiders' win
http://www.mercurynews.com/mld/mercurynews/sports/football/nfl
-------------------------------------------------------------------------------
“Gimme
that Wine”
Recent rain worrisome
for harvest of grapes in Washington
http://seattletimes.nwsource.com/html/localnews/
Early morning rain
welcome moisture for grape growers in California
http://www1.pressdemocrat.com/apps/pbcs.dll/article?AID=
/20040920/NEWS/409200324/1033/NEWS01
California Gains
Three New Appellations in Two Weeks
http://www.winespectator.com/Wine/Daily/News/0,1145,2602,00.html
Robert M. Parker,
Jr., the world's foremost wine guru, makes 12 bold predictions about
seismic changes that will influence how we'll shop, what we'll buy and
how much we'll pay.
http://www.foodandwine.com/PointRollAds.htm?ad=517D20048219156&pub=
fdnwine&size=300_250&code=no&redir=$CTURL$&bu=0.19711905270546587
Conference to tackle
globalization, packaging, prices, supply, demand WINE SYMPOSIUM
http://www1.pressdemocrat.com/apps/pbcs.dll/article?AID=
/20040920/NEWS/409200374/1036/BUSINESS
Napa Valley Wine
Crushing Report-
 |
This
Day in American History
1596-Spain
named Juan de Oñate governor of the colony of New Mexico.
http://memory.loc.gov/ammem/today/sep21.html
1782-
Congress authorized the printing of the complete Bible in English,
only available in
Green and Latin to
that time. It was entitled “
the Holy Bible, containing the Old and New Testaments—newly translated
out of the original tongues; and with the former translations diligently
compared and revised.” The frontispiece noted that it was “printed and
sold by R. Aitken, at Pope’s Head, Three doors above the Coffee House
in Market Street, Philadelphia, PA, 1782.”
It was a duodecimo of 353 pages without pagination.
Philadelphia, PA,
in 1782
1784-The
first daily newspaper begins in Pennsylvania.
( lower half of:
http://memory.loc.gov/ammem/today/sep21.html
)
1814
-- Black troops cited for bravery in Battle of New Orleans.
On
each page of history
America sees my face
On each page of history
We leave a shining trace
On each page of history, My race! My race! My race!
---Langston
Hughes
http://lsm.crt.state.la.us/cabildo/cab6.htm
1884-Birthdy
of Hugh I. “Shorty” Ray, Pro football Hall of Fame official born at
Highland Park, IL. Ray was the NFL Supervisor of Officials from 1938
through 1952. He wrote the high school rule book that became the basis for all
football rule books. He raised
the quality of officiating games conducting seminars and requiring officials
to take written exams,. Inducted
into the Hall of Fame in 1966. Died Sept 16,1956
1894
- A heavy chicken house, sixteen by sixteen feet in area, was picked
up by a tornado and wedged between two trees. The hens were found the
next day sitting on their eggs in the chicken house, with no windows
broken, as though nothing had happened.
1912-Birthday
of Chuck Jones, born at Spokane, WA.
Chuck Jones worked as a child extra in Hollywood in the 1920s.
After attending art school, he landed a job washing animation
cels for famed Disney animator Ub Iwerks.
He learned the craft, and by 1962 he headed his own unit at Warner
Bros. Animation. He created the characters Road Runner
and Wile E. Coyote, Marvin the Martian and Pepe le Peu. He worked on the development of Bugs Bunny,
Elmer Fudd, Daffy Duck and Porky Pig, and also produced, directed and
wrote the screenplay for the animated 1966 television classic “Dr. Seuss
How the Grinch Stole Christmas.” He
won several Academy awards for his work and his cartoon “ What’s Opera,
Doc”” is in the National Film Registry.
He died on Feb. 22, 2002, at Corona Del Mar, CA.
1914-
bassist Slam Stewart born, Englewood, NJ
1918-
bassist Tommy Potter born, Philly.
1921-Birthday
of drummer Chico Hamilton
http://www.drummerworld.com/drummers/Chico%20Hamilton.html
http://music.barnesandnoble.com/search/artistbio.asp?userId=
&mscssid=&pCount=&sRefer=&sourceid=&ctr=70348
1934
– Singer/composer/musician/poet Leonard Cohen born Montreal, Canada.
http://members.aol.com/megan2c2b/
http://www.webheights.net/dearheather/songs.html
1938
- A great hurricane smashed into Long Island and bisected New England
causing a massive forest blow down and widespread flooding. Winds gusted
to 186 mph at Blue Hill MA, and a storm surge of nearly thirty feet
caused extensive flooding along the coast of Rhode Island. The hurricane
killed 600 persons and caused 500 million dollars damage. The hurricane,
which lasted twelve days, destroyed 275 million trees. Hardest hit were
Massachusetts, Connecticut, Rhode Island and Long Island NY. The "Long
Island Express" produced gargantuan waves with its 150 mph winds,
waves which smashed against the New England shore with such force that
earthquake-recording machines on the Pacific coast clearly showed the
shock of each wave
1947---Top
Hits
Peg o’ My Heart -
The Harmonicats
That’s My Desire
- The Sammy Kaye Orchestra (vocal: Don Cornell)
I Wonder Who’s Kissing
Her Now - Perry Como
Smoke! Smoke! Smoke!
(That Cigarette) - Tex Williams
1947-Birthday
of author Stephen King, born Portland, ME.
1948-
“ Texaco Star Theater” premiered. I remember around six years old watching
this, and laughing
at Milton Berle in women’s clothing, the group of us sitting around
the television on
the block, marveling at this invention.
1949-Wesley
Anthony Brown of Washington, DC, became the first Naval Academy Graduate
who was African-American when he received his commission as ensign.
1950-Comedian/Actor
Bill Murray born Evanston, IL.
1955---Top
Hits
The Yellow Rose of
Texas - Mitch Miller
Maybellene - Chuck
Berry
Love is a Many-Splendored
Thing - The Four Aces
I Don’t Care - Webb
Pierce
1955-The
Platters' first million seller, "Only You," enters the pop
charts at #24. The song hits Number One on the R&B chart. It becomes
the first record to sell more than a million copies in France.
1955
- Boxing fans all over the world held their collective breaths as Archie
Moore, the light heavyweight champion, knocked the heavyweight champion,
Rocky Marciano, to the floor on this night. But the champ got up ...
just as he had done in every fight before this ... and went on to defeat
Moore. Rocky Marciano was the only world champion at any weight to have
won every fight of his professional career (1947 to 1956). 43 of his
49 fights were won either by KO’s or because the fight had to be stopped.
1957-
“Perry Mason” premiered on television. Raymond Burr will forever be
associated with the character of Perry Mason, a highly skilled criminal
lawyer who won the great majority of his cases. Episodes followed a
similar format: the action took place in the first half, with the killers
identity unknown, and the courtroom drama took place in the latter half.
My father Lawrence Menkin was the story editor for several years, and
also wrote several of the episodes. Mason was particularly adept at
eliciting confessions from the guilty parties. Regulars and semi-regulars
included Barbara Hale, William Hopper, William Talman and Ray Collins
( who when he got old, moved slowly, so Talman and Burr liked to pitch
his butt, even on camera, to get him moving, and the crew sometimes
would laugh too much and they would have to shoot the scene over, I
remember my father telling me ).. Following the series’ end, with the
last telecast on Jan 27,1974, a number of successful “Perry Mason” TV
movies aired and the show remains popular in reruns.
1963---Top
Hits
Blue Velvet - Bobby
Vinton
Heat Wave - Martha
& The Vandellas
Sally, Go ’Round
the Roses - The Jaynetts
Abilene - George
Hamilton IV
1963-"Sugar
Shack" by Jimmy Gilmer & the Fireballs enters the Hot 100.
It says there for 15 weeks and climbs to Number One for five weeks starting
on October 12. It receives a gold record on November 29.
1965
-- The Jefferson Airplane opens for Lightnin' Hopkins at the Matrix
on Fillmore St. Norm Mayell backed Hopkins on drums.
He patted him on the back no sooner
Mr. Charlie had stooped over
He said, mi'mi mi'mi Mr. Charlie
Mr. Charlie straightened up and looked at him &
say
Boy you tryin to tell me somethin
He say, Now if you can't talk it then sing it
& he say
oooooooohhhh mister charlie
your rollin mill is burnin down
— Lightnin Hopkins, Once
in the Country
1968-Jimi
Hendrix' "All Along the Watchtower" is released.
1970-
the first “Monday Night Football” premiered. Following the complete merger of the American
Football League and the National Football League, ABC joined CBS and
NBC in television weekly games w.
The show originally began as an experiment but soon became an
institution. Announcers Howard Cosell, Keith Jackson and Don Meredith
called the first game, a 31-21 victory by the Cleveland Browns over
the New York Jets.
http://espn.go.com/abcsports/mnf/s/alltimehistory.html
1971---Top
Hits
Go Away Little Girl
- Donny Osmond
Spanish Harlem -
Aretha Franklin
Ain’t No Sunshine
- Bill Withers
The Year That Clayton
Delaney Died - Tom T. Hall
1974-The
Rolling Stones' "It's Only Rock & Roll (But I Like It)"
peaks at #16 on the chart.
1976-The
Bee Gees' 20th album, "Children of the World," goes gold.
It contains two of their latest hits "You Should Be Dancing"
(Number One two weeks ago) and "Love So Right" (which will
make it to #3 in two months.)
1979---Top
Hits
My Sharona - The
Knack
After the Love Has
Gone - Earth, Wind & Fire
The Devil Went Down
to Georgia - The Charlie Daniels Band
You’re My Jamaica
- Charley Pride
1981
- Sandra Day O’Connor was confirmed by the United States Senate in a
99-0 vote, and she became the first female Justice of the United States
Supreme Court.
1983-Billy
Joel's "Tell Her About It" hits #1 on the singles chart.
1985-Michael
Spinks won the heavyweight championship by taking a unanimous 15-round
decision over Larry Holmes in Las Vegas. Sppnks held the title until June 27,1988,when
he was knocked out by Mike Tyson in the first round.
1986-The
New York Jets and Miami Dolphins combined for a record 884 passing yards
and scored 96 between them, including 13 touchdowns and a pair of field
goals. Quarterback Ken O’Brien completed four touchdown passes to wide
receiver Wesley Walker, including the game-winner in overtime. The final
score: New York 51, Miami 45.
1987
- Tropical Storm Emily, which formed in the Carribean the previous afternoon,
caused considerable damage to the banana industry of Saint Vincent in
the Windward Islands. Unseasonably hot weather continued in Florida
and the western U.S. Redding CA and Red Bluff CA, with record highs
of 108 degrees, tied for honors as the hot spot in the nation.
1987---Top
Hits
I Just Can’t Stop
Loving You - Michael Jackson with Siedah Garrett
Didn’t We Almost
Have It All - Whitney Houston
Here I Go Again -
Whitesnake
This Crazy Love -
The Oak Ridge Boys
1989
- Hurricane Hugo slammed into the South Carolina coast about 11 PM,
making landfall near Sullivans Island. Hurricane Hugo was directly responsible
for thirteen deaths, and indirectly responsible for twenty-two others.
A total of 420 persons were injured in the hurricane, and damage was
estimated at eight billion dollars, including two billion dollars damage
to crops. Sustained winds reached 85 mph at Folly Beach SC, with wind
gusts as high was 138 mph. Wind gusts reached 98 mph at Charleston,
and 109 mph at Shaw AFB. The biggest storm surge occurred in the McClellanville
and Bulls Bay area of Charleston County, with a storm surge of 20.2
feet reported at Seewee Bay. Shrimp boats were found one half mile inland
at McClellanville
1991-Stevie
Nicks' greatest hits LP, "Timespace" enters the chart and
Rush's "Roll the Bones" enters the LP chart.
1993-“NYPD
Blue” Premiers on TV. This gritty New York City police drama has had a large and changing
cast. The star of today’s CSI Miami David Caruso was the first to leave
to begin a movie
career that did not happen..The central characters were partners Detective
Bobby Simone ( who later died,) played by Jimmy Smits, and Detective
Any Sipowicz, played by Dennis Franz.
Other cast members have included Kim Delaney as Detective Diane
Russell, James McDaniel as Lieutenant Arthur Francy, Gordon
Clapp as Detective Gregory Medavoy, Rich Schorder as Detective
Danny Sorenson, Nicholas Turturro as Detective James Martinez, Mark
Paul Gosselaar as Detective John Clark and Esai Morales as Lieutenant
Tony Rodriquez.
http://www.tvtome.com/NYPDBlue/
http://rotteneggs.com/r/show/se/2047332.html
http://www.imdb.com/title/tt0106079/
2001-
The Mets donate their day's pay, which totals approximately $500,000,
from tonight's game with the Braves at Shea to a rescue fund for the
families of the firefighters and policemen killed in the World trade
Center terrorist attacks. The contest is the first professional baseball
game played in New York since the tragedy. Uplifting ceremonies before
and during the game, which include singers Diana Ross, Marc Anthony
Lisa Minnelli as well as bagpipers, pay tribute to victims of the tragedy.
Mike Piazza's eighth inning home run gives the Mets a 3-2 dramatic victory
over the Braves.
Baseball
Poem
National Pastime
anonymous
Somewhere
in the summer city...
someone’s
stoop... mid 50's,
when
gods wore pinstripes,
and kids
crammed their mouths
full
of cloyingly sticky gum.
Got it...
need it... want it.
Could
have been anywhere, really.
Babe's
House, Duke's Domain,
The Polo
Grounds... Fenway Park.
The voices...
Red Barber, Mel Allen,
statically
beautiful.
Going...
going.... gone!
Stark,
white powder... highlighting
base
lines, connecting the bags.
Irish-green
outfields...
their
warning tracks beckoning
that
high, fly ball...
Holy
cow... Oh, Momma, Touch 'em all!
Thurman
and Roberto... gone too soon.
Mickey's
left the reminiscing to Yogi.
Oh...
for a ten-cent Coke, a shoe box,
crammed
with flip-worn icons,
and somebody’s
mother...
calling
him in to dinner.
 |
www.leasingnews.org |
 |
