The NEC position pays base plus commission with a total compensation at target of high five to low six figures, with no cap if target is exceeded. Click “for more information” about this “captive lessor.” Tuesday, September 5, 2006
Headlines--- Balboa: Working Capital for Brokers Next Edition --- book review on Jeff Taylor's latest, ######## surrounding the article denotes it is a “press release”
-------------------------------------------------------------- Balboa Introduces Working Capital for Brokers
(Irvine, CA) Balboa Capital now offers up to $ 25,000 of Working Capital financing through its broker channel. Brokers can secure this financing for their customers through Balboas standard application process. This new product is available immediately for businesses in the United States. Balboas Working Capital product is available for terms up to 36 months. Brokers can qualify their customers for up to $25,000 of financing in conjunction with a new equipment lease or they can secure up to $ 20,000 of standalone Working Capital. This product gives Brokers another way to add value for their customers and generate additional revenue for their business, said Curt Lysne, Chief Sales Officer for Balboa Capital. Customers can use the Working Capital loan for a variety of business expenses such as payroll, rent, or expansion related costs. Customers also use their financing for other costs related to their equipment lease such as supplies and consumables. Balboa Capital has been offering Working Capital for over ten years. The product is popular with small and mid-sized companies that are looking for sources for additional capital. About Balboa Capital Balboa Capital provides equipment leasing and financing to small and mid-sized business in the United States. The company markets its products through its direct sales force, vendor channel, and broker partnerships. The company offers leases in the range of $ 2,000 to $ 5,000,000. Balboa Capital is privately held and based in Irvine, CA. Contact: Jonathan Albin Curt Lynse ### Press Release ########################### Classified Ads—Operation
Icicle Ridge Winery, Peshastin, Washington * (home of Three Blondes Gewurztraminer )
The Wagoner Family Orange County, CA East Windsor, NJ New York, NY Wayne, NJ For a full listing of all “job wanted” ads, please go to: To place a free “job wanted” ad, please go to: * http://www.icicleridgewinery.com/index.html 400 wineries and nine federally recognized American Viticultural Areas (AVAs) in the state. --------------------------------------------------------------- Archives--September 5, 2000--ELA introduces PAYNET (Soon to be ELFa. editor) Knowledge Works announces a strategic partnership with the Equipment Leasing Association for the launch and marketing of its flagship service, Payment Information Network or PAYNET the only online service for commercial equipment leasing companies to obtain valuable lease payment history on lease applicants. The ELA-Knowledge Works agreement calls for ELA marketing support and visibility with the ELA membership. "Knowledge Works' partnership with The Equipment Leasing Association highlights the quality and integrity of the service," says Bill Phelan, president of Knowledge Works. "The industry is in need of this network because, quite frankly, there is no better indicator of how a lease applicant will pay on his lease than how he is currently paying other leasing companies. PAYNET offers the critical credit variable and streamlines the credit process, allowing for higher transaction approvals and less write-offs through better informed credit decisions." PAYNET will be demonstrated at the ELA convention this October in Palm Desert, California. The pilot program launches in 4th Quarter 2000, with an official launch set for early 2001. "We are always looking for ways to help our leasing company members be more profitable," says ELA President Michael Fleming. "Credit is a key factor for lessor profitability, so our partnership with Knowledge Works allows us to support a system that will help companies achieve a more efficient and profitable credit process." "ELA's involvement also ensures that the largest number of lessors are introduced to PAYNET, recognize its value and participate," says Fleming. "Companies contributing their credit data helps not only the entire industry make better informed credit decisions," he notes. "But ultimately helps the quality of the leasing community including their individual companies." Leasing company subscribers to PAYNET will provide a monthly download of their customers' lease payment experiences to Knowledge Works. A one-time technological set-up is required, but thereafter the monthly downloads will be handled automatically through their existing accounting system ensuring that minimal staff time and technological resources are required. PAYNET subscribers then can access the pooled data and pull Payment History Reports online for a low fee per report. For confidentiality reasons, names of leasing companies will not be associated with published credit data. This PAYNET data also will not be sold for marketing purposes. Ultimately, subscribers to PAYNET can: Have access to data that supports more informed credit decisions, increased approvals, lower delinquencies and write-offs; Obtain data that is more relevant to their credit decisions than traditional sources of credit history; Receive accurate, quality information due to Knowledge Works' data filtering process; Enjoy a streamlined credit process; and Eliminate the credit process of checking references with competitors, therefore tipping off the competition to pending deals. Knowledge Works is working with The Revere Group, as well as Northern Consulting, CEO Associates, and major accounting and software providers to ensure that PAYNET technology is user friendly and compatible with existing lease accounting systems. --------------------------------------------------------------- Paynet Today, 2006--$360 billion database
PayNet reportedly today, 2006, “… manages a $390 billion database of long-term loan and leasing data and we have this data for 8 of the top 10 leasing companies. Our information is more predictive of actual performance.” The information today contains long-term ‘Term' data, not short-term ‘Trade' data. PayNet = Term Data________ 1. longer commitment, 3-7 years “The fee varies, depending on how many reports are pulled per month on an average. For instance, 25 per month, these are general fees: 5 reports per month prepay of $1,800 “For 25 reports per month, there is no prepayment and the overall report is less expensive. With the 25, there is a monthly minimum of $488.” Jean Lyon --------------------------------------------------------------- New “List” -- Captive Lessors
The above is the “static list” of those classified to date. There are certainly more to add. Right now there are 50 funders to be added to the funder list, 100 “broker/lessors” and certainly more to the “captive lessors” list, a growing category with companies with a lot of surplus cash, who want to put it to use in making more profit. There are certainly more companies to be added to this list, but before researching more, the ones we have now for the other lists need to be added this month. Leasing News will be up-dating the “news section” of the lists this month, trying to keep changes “on line.” Here is the full page of “Captive Lessors:” Captive Lessors (for Funder list "A," please click here There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list. To qualify for this list, the company must be either a manufacturer, distributor, or a major supplier (seller.) The "captive" company may have their own funds or secure line(s) of credit. They are not dealers who provide financing under a "private label program," but are there own "lessor." The company may sell off its portfolio from time to time, or enter into a exclusive arrangement with a major financial source. The definition may be further realized by viewing the companies listed. Leasing News reserves the right to not list a company who does not meet these qualifications. We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers are very much encouraged. ( To apply to be listed, please fill in our "Captive Lessor" Form and fax to 408.374.3843 or you may e-mail to: kitmenkin@leasingnews.org.) Business Reports: Companies listed may make any netiquette comment about their company or reports or other information in the footnote section of their listing. Leasing News recommends readers also view the footnote as well as the section itself or searching reports on the business. It also should be noted that if a BBB report listing is found by a reader, as there may not have been one when this was last up-dated, please send the link to maria@leasingnews.org so Leasing News may up-date this section. Leasing Associations: All non-profit leasing associations are abbreviated. To see the full name and learn more about the association, please click here. BBB - Better Business Report | CBB - Leasing News Complaint Bulletin Board A -State License | B -Accepts Broker Business | C - Requires Broker to be Licensed N/R (not reported)
Business Reports: Companies listed may make any netiquette comment about their company or reports or other information in the footnote section of their listing. Leasing News recommends readers also view the footnote as well as the section itself or searching reports on the business. It also should be noted that if a BBB report listing is found by a reader, as there may not have been one when this was last up-dated, please send the link to maria@leasingnews.org so Leasing News may up-date this section. BBB - Better Business Report | CBB - Leasing News Complaint Bulletin Board A -State License | B -Accepts Broker Business | C - Requires Broker to be Licensed
--------------------------------------------------------------- Royal Links Up-date
(Readers may be saying, “Why doesn't he get a new photograph?” The situation has similarities to the NorVergence telecom scandal, but this involves advertising on wine-beer golf “caddies” written on private label lease contracts with the name of lessor as Royal Links USA, Holland, Ohio, who filed bankruptcy ( of course.) These are the eleven leasing companies involved in the alleged fraud with Royal Links. C&J Leasing “Royal Links USA had salesmen call on golf courses to offer free beverage carts. (cold beer, wine, soda's, snacks.) The courses would use them and allow advertising panels to be displayed by Royal Links. Various national merchandisers would pay Royal Links for ads. Royal Links supplied products for free with delivery, and also paid the courses a lump sum (normally $1000) to initially stock the cart with startup merchandise. “Courses entered into an agreement whereby Royal Links paid the course about $300 per month in sponsorship money, which was then sent back to their leasing arm as a lease payment. This arrangement was simply explained as their accounting procedure. “We became concerned initially when it was requested the cart be insured for $12,500. The cost of the cart is most likely less then $1000. “In October 2004, all courses were notified that Royal Links would no longer pay the $300 per month in sponsorship money. Our cart had been delivered about 60 days prior to this notice. The leasing company insisted they were independent and demanded the $300 monthly payment (for 5 years). Preferred Capital quoted a payoff of approximately $15,900.” (name with held) National Golf Course Owners Association “The FBI has apparently sent communications to as many course owners/operators for whom they have information as victims of Royal Links. We have received word from several course owners that the FBI sent letters with instructions on how to keep informed about the ongoing and open case. Unfortunately, it appears there was a serious problem with their database of courses, as many course owners are getting letters for the wrong people at the wrong courses. We are attempting to contact the FBI about this matter and offer our database of Royal Links customers. In the meantime, if you received an incorrectly-addressed letter please do not use the log-in information provided in the letter. We hope to secure a commitment from the FBI to generate a newer, accurate mailing.” Update from the association law firm, Lord, Bissell and Brook: “The Royal Links bankruptcy proceedings are moving slowly. The initial trustee, Louis Yoppolo, withdrew earlier this year. An interim trustee was appointed for a brief period, but did little work. Now, new trustee Patricia Kovacs has taken over the supervision of the bankruptcy proceedings. Attempts to reach Ms. Kovacs regarding the status of the claim process have been unsuccessful. In addition, Royal Links class action counsel Lord, Bissell & Brook also waits to hear from Ms. Kovacs regarding whether she intends to initiate any proceedings concerning the misrepresentations made to course owners to induce their participation in the beverage caddy program.” ---------------------------------------------------------------
Top Stories--August 28-September 1
Here are the top ten stories most "opened" by readers last week. (1) The most controversial book of the decade on leasing. (This week Leasing News will have a book review on Jeff Taylor's latest, (2) Sunrise Closing its Doors/King retiring (A reader sent us a question which leads to this exclusive story and interview. The great majority of our "inside stories" come directly from readers. Thank you.) (3) Sales Makes it Happen—by Linda P. Kester http://www.leasingnews.org/archives/August%202006/08-30-06.htm#sales (A follow-up from her previous column. Of all the trainers, she appears to have the largest following, is the most read. She ended this article : This issue did touch a nerve. Other questions I received included: 1. If the funder gets their yield what do they care how much I get on top of that? I'll address each of the above questions in a subsequent article. Again, if you have an opinion on this subject be sure to e-mail me at Linda@lindakester.com
(As the late and great San Francisco Columnist, and a good friend, Herb Caen (4) Cartoon—Leasing Brokers' Wedding (5) Archives-August 30, 2000---Manifest is Sold (signed by Troy Molitor, Brian Bjella, Brad Peterson (6) Leasing 102--by Terry Winders, CLP (7) FASB: Revamping Ancient Leasing Standards (8) Key Equipment names Jeff Enoch Vice President (9) Two Viewpoints: Evergreen Leases (This subject is not going to go away. Such contracts should be illegal in every state, not just two. When the industry cannot control its ethics, the government steps in and laws are created--from the meat industry, child labor laws, and to tricks by unscrupulous sales techniques.) (10) Story Credit Up-Dated Kit Menkin, editor ---------------------------------------------------------------- Classified Ads---Help Wanted Marketing Specialist
Office Administrator
Sales
-------------------------------------------------------------- Pitney Bowes Completes $1.1 Billion Tax Settlement, by Leroy Baker, NYSE-listed Pitney Bowes Inc., announced last week that the company has completed a $1.1 billion settlement with the Internal Revenue Service relating to the sale of a business unit. The postal equipment manufacturer said in a statement that the largest portion of the tax, nearly $900 million, resulted from the sale of its Capital Services leasing unit in July, which represents amounts owed on transactions the company entered into over the past 15 years. This tax would have been due over the next 20 years, but the sale accelerated the time at which it must be paid. The remaining payments reflect taxes owed with respect to various other transactions. Pitney Bowes expects to pay about $1.1 billion of tax over the next six months. "We are quite pleased to reach this resolution as it closes a chapter on a non-core business that we have sold," said Michael J. Critelli, Chairman and CEO of Pitney Bowes. "This permits us to concentrate our energies on our growth strategies and makes it easier for investors to understand our financial position and growth potential," he added.
-------------------------------------------------------------- Leasing 102 ” Dispute Resolution” by Mr. Terry Winders, CLP
Anyone who has gone to the legal courts today is aware of the cost, and most important, the time delays, to get resolution of a default or a dispute. One of the most common disputes is the definition of fair market value purchase options. For instance: What is the value of a snow blower in Minneapolis in January versus a snow blower in Miami? Easy question, but clearly different answers. Therefore just saying “fair market value” may get you into a dispute with your lessee. Their assumption of value may be different than yours and how to resolve the problem without losing the goodwill of your customer becomes the problem. Many lessors are turning to arbitration, instead of the courts, to settle their problems. Language like this is showing up in modern lease agreements: “Any dispute between the parties hereto that is not resolved by informal negotiations shall be resolved by final and binding arbitration conducted by a single arbitrator appointed by the American Arbitration Association (the "AAA"). Such arbitration proceeding shall be governed by the Federal Arbitration Act and conducted in (City, State) in accordance with the Commercial Arbitration Rules of the AAA. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Such arbitrator shall have authority to award actual damages and reasonable attorneys' fees and other costs of arbitration to the prevailing party to such arbitration, but shall have no authority to award either party any penalties or any consequential, special, exemplary, or punitive damages” This form of arbitration is quick and usually gets to the heart of the problem and settles it without either side taking offence. However some Lessor's prefer mediation because the process typically involves nonbinding discussions between the parties and an agreed-upon mediator. The issue here is weather the outcome is binding or nonbinding. An arbitration usually reports to the courts and is binding whereas a mediation is just between the management staff of the lessee and les | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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