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| April 28, 2000 UAEL Conference has exceeded the expected 250 paid attendees. Hooray!!! Generally the Spring Conferences are the lightest attendance, according to Prof. Ray Williams... but perhaps because in San Francisco, and perhaps because of all the Internet Developments and changes in the leasing industry...and perhaps because Ken Greene, Esq.,is the Chairman of the Conference---actual attendance may reach 275. To learn more, www.uael.org or call Estarlita Green: 510-444-9235 ask her to let you in on the pre-registration rate and tell her Kit Menkin sent you. Also "first timers" get a great deal, too!!! Kit--- Last week a major lender in the leasing industry sent out an internal e-mail listing 22 leasing companies who had (their words) exited the industry in some form or fashion. I disagree with several of theirs but I added four more that we knew of. We were told yesterday that Copelco been been sold. ( true, purchased by Citicorp---http://www.copelco.com/site/home.html the sender never sent me the list, but sure would be curious to see it ) editor Hey Kit--- "A study they did showed heavy losses from re-brokered sources." It took then a study to figure this out!!! All they had to do was ask me!!! Rule of thumb "The farther removed from the funding source from the deal the greater the likelihood of a loss" Also "the higher the rate, the higher the risk" -- Of course on re-brokered deals the more "air" (commissions) on the deal, the higher rate. I have many more Rules of Thumb for funding sources, maybe I should publish them. ( sender said I could use his name, but decided not to--editor ) Kit-- By the way, Marlin did not buy Imperial's Atlanta office. Imperial informed the regional manager, Dave Marbin, they were closing Atlanta and Marlin asked if he could buy it. They agreed and he went to Marlin. All that happened, as incredible as it might sound, is they changed their name from Imperial to Marlin and Marlin was gifted with an office producing $5 - 7,000,000 per month. It was Imperial's crown jewell of sales! How can Imperial close all of their office and release nothing to the press. Their stock has dropped to around 3. Have you picked up any rumors of Imperial suing brokers all over the U.S. on defaulted deals? Name
with held by request Kit-- Why haven't you written about First Sierra. They are you aware that on Tuesday First Sierra took the biggest hit on Wall Street and was suspended from trading when the market opened yesterday morning. The lost five points on Tuesday. ( here is their map:http://www.sierracities.com/stock_chart.asp actually the company name now is Sierracities.com, Inc. their stock symbol is "BTOB" http://www.infospace.com/info.usgo/index_inv.htm Close
of Day, Friday, April 28,2000 Kit--- I really enjoy your newsletter and appreciate your putting me on your list. We in ****City,State***** are behind the times as it pertains to the leasing business. But, then again we are not greedy people. We are still buying money at 12%, selling it at 20%, and happy with an 8% profit! ( never responded to using their name, so will leave as "unsigned" ) editor Kit, I firmly believe the Evil Empire's (GE) objective with Colonial is to take over the portfolio and solicit customers and vendors after eliminating all broker business. This would not be the first time! I had a conversation with a Southern California broker on Wed. who was in a panic because of her fear of the Evil Empire. I asked her why in the wide, wide world of sports would she continue to do business with them if she felt they were going after her vendors and customers? My buddy Mark Speros once told me there is no SAT test for being a broker. We ain't the smartest lot around and many of us always find the "deer in headlight" mode when big changes come. Our industry is in the most turmoil I have witnessed in the 20+ years I have been involved. However, I think the shake out will be good for our industry in the long run. There is going to be some blood on the lease paper before it is over ( requested to remain anonymous ) Kit--- In September, 1990, seven of us sat down to discuss problems with leasing and brokering paper. Bob Rodi wasn't ***@@@*** there, nor was Danny Day, who the hell is he? And Bonano, I hadn't met him until last year, anyway, Rodi is full of --------. I don't know what day Rodi is talking about. He certainly doesn't speak for me. He is not a broker. Anyway, at our meeting the result was NAELB who original goal was to prevent fraud and level the playing field between brokers and lenders. When I attend NAELB meetings I see a lot of gray hair like me and years of experience. Those ------- brokers are smart enough to align themselves with ***@*** lenders who can and will stay in the market. They will survive. The younger people who have never seen hard times and align themselves with the cheapest money or easiest credit are in f0r a ***@@@*** rough ride! ( also cleaned up some of the language--request anonymity p.s. Bob Rodi is a pretty tough guy, so I would believe anything he would say, although this person says they were "there" when NAELB was formed--and I would also believe him, too. Maybe there were several "days" and "meetings," not just one ) ---editor While those of us who were at the NAELB Conference in Nashville, Tennessee saw Hal Hayden and the new polo shirt he was wearing, here is the "official announcement": SierraCities.com Executive Joins CapitalStream as Segment General Manager Former VP Adds Valuable Technical and Financial Experience to Business Unit SEATTLE, April 28 /PRNewswire/ -- Capital Stream, Inc. (formerly System 1 Software), an e-commerce provider of services and tools for the business finance industry, today announced the hire of Hal Hayden, former SierraCities.com vice president, as segment general manager for the captive market. Hayden brings more than 20 years of business development and sales experience within the financial services and technology industries, including organizational development, strategic planning, software systems development, sales, and product management. As vice president of SierraCities.com, Hayden directed the development and marketing of a successful small-ticket lease software product, as well as other technology initiatives within the company. "Hal's exceptional leasing industry experience and his first-hand experience with product development in the commercial finance industry will be of great value to our team," says Stephen Campbell, president and CEO of CapitalStream . "CapitalStream is a company that is helping their business financing partners move into the age of the Internet, and that is crucial to growth in this industry," Hayden said. "I believe CapitalStream is uniquely positioned to integrate the online aspects of financing, while maintaining the partnerships that comprise the financial supply chain." Prior to joining SierraCities.com in 1996, Hayden was president of Priority Leasing in Austin, Texas, and has years of experience in the lease financing industry, including work at Comprehensive Leasing Corp., Business Software Inc., and IBM Corp. Hayden holds a bachelor's degree in marketing from the University of Arizona, Systems & Sales certification from IBM School, and is a Certified Leasing Professional with the United Association of Equipment Leasing. About CapitalStream Seattle-based CapitalStream offers end-to-end e-commerce marketplace solutions -- including customer management tools, workflow automation and an online transaction network -- for the global business finance market. The company's e-commerce network, CapitalStream.com, provides an infrastructure for financing companies, manufacturers and B2B e-commerce firms to capture, grow and service customers. CapitalStream has been an established industry leader for five years, and in 1999, its 570 customers used CapitalStream products to facilitate $8.5 billion in transaction volume. For additional information about CapitalStream visit its web site at www.CapitalStream.com. ( Look for more about this program at the UAEL Conference in San Francisco, May 4-7 ) note: We do not add anyone to our Lease News list, unless they request to be added. No spam here. www.leasingnews.org
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