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January 24, 2001
Headlines--- Mellon Leasing for Sale? Correction: Saddleback Does Not Accept Broker Business Equifax/UAEL Announcement "Now Official" Penske Truck Leasing Commences Tender Offer Heller Puts "Spin" on Being Downgraded to "Stable" by Fitch also adds," (the economy) faces a credit crunch that could impair smaller lessors' ability to compete effectively," Merill-Lynch Says "Rocky Road" and It Tastes Like Ice Cream for Bond Buyers Progress Finance Declares Divident ( yes, there are a number of leasing companies doing very well today.editor ) New Wireless Management to Revolutionize Biz ------------------------------------------------------------------------------------------- Correction: Saddleback Does Not Accept Broker Business Kit, Please revise your comment/summary for Saddleback Financial Corporation. "Saddleback Financial ( 1/2001 Prez. Warren Emard in business, looking for new business from brokers." Saddleback is still in business, but we have never actively sought out Broker business. We are still originating business through vendors and directly to lessees. Please delete the comment about broker business as we do not accept broker business. It is our understanding that broker business should be referred to BSB. Thanks. ********************************************** Rich Balkcum Saddleback Financial Corporation 625 The City Drive, Suite 140 Orange, CA 92868 tel. 714-938-9500 x309 * fax 714-938-9510 ********************************************** --------------------------------------------------------------------------------------- Mellon Leasing for Sale? " Mellon US Leasing was told last Tuesday that the division is for sale. They were told it would not be sold to a competitor, which leads him to believe there may be an overseas suitor. He said Mellon booked about $1 billion in leases last year. Apparently the sales staff was given retention bonuses, and most of them have a lot in the pipeline, so they plan to stay. My friend actually thinks it will be positive since Mellon tightened up the credit standards quite substantially after purchasing US Leasing." Name With Held ------------------------------------------------------------------------------------------------ LeaseExchange.com It is our goal to be accurate and fair, report the news, and in our experience from Metrolease to UniCapital and others we hear things first as "rumors." We understand from two reliable sources that LeaseExchange is "automated" and up and running, but they have very limited funds. Many people have been let go. We hear other eLease companies who received "investment money" are running on "low" as the internet is not bringing them enough money even to make overhead. Some have cut back, cutting the overhead, but very few of them have entered the "black." These companies are basically "automated" super brokers, or "aggregate funders," as they like to call themselves. Several other names have been reported to us, and I have confirmed with principals as a reporter, but on a confidential basis. Many of the actual funding sources are more aware about the "volume" and it appears that without additional venture capital, many of the eLease companies will not been around in three to six months, except perhaps in an "on line" basis only. Something like "auto pilot." editor -------------------------------------------------------------------------------------------- Reaction to: Association Membership Dues Comparison
http://www.leasingnews.org/links_section.htm Great job, Kit! I really don't know why you are in the leasing business as your heart and talents are obviously in journalism. I saved your report and even printed it on real paper to put in a binder (computers don't always work; paper does). Thanks for providing the leasing business with this remarkably valuable service. Bob T. BoTei@aol.com ( Bob Teichman, Teichman Financial Training ) ---------------------------------------------------------------------------------------------- Barney Miller---- Kit.....Abe Vigoda is alive and well and living in NYC. Before I left Copelco/CitiCapital in Sept.'00, I had the pleasure of standing on a grocery line with Mr.Vigoda. He has aged quite a bit, but what a class act. He was in from NYC visiting his grandchildren, who were in a local school play that evening. Your e-mail blurp just sparked that memory. Regards, Shawn McGill,VenServ smcgill@venserv.com P.S. Citicorp purchased Copelco Capital in 5/00! ( She was referring to the Detective Fish in "Barney Miller," the tv show anniversary premiere was yesterday. The announcement was 4/00, but McGill is correct, and we will correct the Citicorp date. Thank you. We are still looking for accurate dates for the following: merican Business Leasing ( gone ) The Bancorp Group, Inc. (Southfield, MI) (Not accepting news business. The BOD of the parent bank is assessing what to do with the leasing subsidiary.....currently servicing portfolio but not originating. no longer in business ) Bankvest (bankrupt) . Imperial Credit Industries (ICII) ( sold portfolio ) Leasing Solutions , San Jose( bankrupt ) Merit Leasing ( gone ) Prime Leasing, Minnesota ( no longer doing business ) Rockford ( sold to American Express ) USA Capital Leasing ( gone-bk ) The List can be viewed "on line" at: http://www.leasingnews.org/list.htm ( as reported last week and we posted, but they asked us to remove for the formal announcement today. ) --------------------------------------------------------------------------------------------- Equifax Launches Small Business Financial Exchange to SupportLending to Small Businesses ( we reported on this last week, then they asked us to remove from our site, and we accomodated them. Here is the official announcement today. editor ) Top US Lenders to Participate in Commercial Exchange United Association of Equipment Leasing to Support ATLANTA, Jan. 24 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) today announced a revolutionary new service capability -- a member-owned data exchange to assist financial institutions in making credit decisions about small businesses. Managed by Equifax to meet the needs of top U.S. banks and lenders, the Small Business Financial Exchange will enable member financial institutions to report and maintain comprehensive trade data on small businesses. "The Small Business Financial Exchange fills a critical gap in the lending community," said Tom Chapman, chairman and chief executive officer of Equifax Inc. "It's the first and only source for lenders to see the total aggregated loan exposure and performance of small business owners. Equifax's comprehensive expertise as the trusted steward of information makes the Exchange possible." The Exchange will provide data on loans, credit card exposure and leasing history, with the ability to integrate consumer data to provide a total picture of a small business owner's risk and exposure. The Small Business Financial Exchange, which will be available in the second quarter of 2001, is Equifax's second commercial credit exchange and reflects the company's experience gained with fourteen domestic and over thirty worldwide exchanges. Fifteen of the 20 largest U.S. small business lenders currently are members. They include: Advanta Corporation (Nasdaq: ADVNB ADVNA), AmSouth Bancorporation (NYSE: ASO), Bank of America Corporation (NYSE: BAC), Bank One Corporation (NYSE: ONE), BB&T Corporation (NYSE: BBT), Capital One Financial Corporation (NYSE: COF), SunTrust Banks, Inc. (NYSE: STI), United Association of Equipment Leasing (UAEL), Wachovia Corporation (NYSE: WB) and Wells Fargo & Company (NYSE: WFC). "The Small Business Financial Exchange will profoundly impact the ability of financial institutions to support the small business community, now estimated at 25 million by the Small Business Administration," said Bill Catucci, executive vice president, Equifax Information Services. A recent survey conducted by the National Small Business United organization and Arthur Andersen found that 24 percent of small and mid-sized businesses are unable to obtain adequate financing. The lack of information available to lenders can contribute to the number of small businesses that do not qualify for loans. Addressing this deficiency, the Exchange will assist members in managing acquisition risk, preventing fraud, managing portfolios and locating "skipped" accounts. "By creating a quality credit repository, the Small Business Financial Exchange will greatly enhance our lending capability to the small business market," said John Donohoe, consumer credit risk management executive, Bank of America. "It will help us to make loans faster and improve the quality and efficiency of the credit decisions process which equates to better service for our customers." "The Small Business Financial Exchange initiative is critical to the continued success of small business lenders, regardless of portfolio size," said Marc L. Bernstein, executive vice-president and Business Direct division manager at Wells Fargo Bank. "I can think of nothing more important in "decisioning" a small business's credit than knowing what other bank loans that business already has and how they have managed them. Equifax is addressing what has been up until now a disturbing blind spot in our business." "The concept of a member-owned and managed data exchange is extremely appealing considering the current evolution in reporting business performance data," said Steve Bauer, vice president and national risk manager for Business and Community Banking at Bank One. "This exchange has the potential to change the entire informational landscape for extending business credit. The framework is set to attract vast amounts of predictive and meaningful data." "The UAEL, which represents more than 500 equipment lessors, brokers and funding sources throughout North America, is pleased to represent the equipment leasing industry," said Bob Rodi, president of the United Association of Equipment Leasing. He added, "We are certain that our members can make a valuable contribution that will lead to better portfolio management, thereby improving the availability of equipment leases and loans to our customer base." About Equifax Inc. Equifax (www.equifax.com ), a worldwide leader in enabling and securing global commerce, brings buyers and sellers together through its information management, transaction processing, direct marketing, and customer relationship management businesses. Atlanta-based Equifax serves the financial services, retail, credit card, telecommunications/utilities, transportation, information technology and health care industries and government. Equifax offers knowledge, expertise, convenience and security to provide value-added solutions and processes for its customers wherever they do business, including the Internet and other networks. Equifax employs about 13,000 associates in 17 countries with sales in almost 50 and has $1.9 billion in revenue. Statements in this press release that relate to Equifax's future plans, objectives, expectations, performance, events and the like are "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results to differ materially from those expressed or implied in these statements. Those factors could include changes in worldwide and U.S. economic conditions that materially impact consumer spending and consumer debt, changes in demand for the Company's products and services, risks associated with the integration of acquisitions and other investments, and other factors discussed in the "Forward-looking Information" section in the management's discussion and analysis included at Part II, Item 7 in the Company's annual report on Form 10-K for the year ended December 31, 1999, and 10-Q for the period ending September 30, 2000. CONTACT: Dave Mooney of Equifax Inc., 404-885-8117, or dave.mooneyl@equifax.com , or Caroline Campbell of Ketchum, 404-879-9277, or caroline.campbell@ketchum.com , for Equifax Inc. SOURCE Equifax Inc. CO: Equifax Inc.; Advanta Corporation; AmSouth Bancorporation; Bank of America Corporation; Bank One Corporation; BB&T Corporation; Capital One Financial Corporation; SunTrust Banks, Inc.; United Association of Equipment Leasing; Wachovia Corporation; Wells Fargo & Company ST: Georgia, Alabama, North Carolina, Pennsylvania, Virginia, Illinois, California IN: FIN CPR MLM SU: PDT JVN 01/24/2001 08:30 EST http://www.prnewswire.com --------------------------------------------------------------------------------------- Progress Financial Corporation Declares Cash Dividend
BLUE BELL, Pa., Jan. 24 /PRNewswire/ -- The Board of Directors of Progress Financial Corporation (Nasdaq: PFNC) (the "Company") has declared its regular quarterly cash dividend on its common stock, according to W. Kirk Wycoff, Chairman, President and Chief Executive Officer. The cash dividend of $.06 per share will be paid on February 16, 2001 to shareholders of record on January 31, 2001. Progress Financial Corporation is a unitary thrift holding company headquartered in Blue Bell, Pennsylvania.
The business of the Company consists primarily
of the operation of Progress Bank, which serves
businesses and consumers through sixteen full
service offices.
The Company also offers a diversified array
of financial services including equipment leasing
through Progress Leasing Company, with offices
in Blue Bell, Pennsylvania, and financial planning
services and investments through Progress Financial
Resources, Inc., headquartered in Philadelphia,
Pennsylvania; and asset based lending through
Progress Business Credit. In
addition, the Company also conducts commercial
mortgage banking and brokerage services through
Progress Realty Advisors, Inc. with locations
in Blue Bell, Pennsylvania; Richmond and Chesapeake,
Virginia; Woodbridge, New Jersey; and Raleigh,
North Carolina. Corporation; venture capital activities managed by Progress Capital Management, Inc.; and financial and operational management consulting services for commercial clients through KMR Management, Inc. located in Willow Grove, Pennsylvania. The Company's common stock is traded on the Nasdaq Stock Market, National Market under the Symbol "PFNC". SOURCE Progress Financial Corporation CO: Progress Financial Corporation ( full report at end of Leasing News ) ----------------------------------------------------------------------------------------------- CarBiz.com to exchange equity for assets of Automotive FinanceCorporation the financing arm of ALLETE's automotive services division
TORONTO, Jan. 24 /PRNewswire/ - CarBiz.com Inc. (CDNX: CZ), a leading provider of Internet and software solutions to the North American automotive industry, today announced that it has signed a Letter of Intent with US-based Automotive Finance Corporation (AFC) - a division of ALLETE Corporation (NYSE: ALE) - to exchange a portion of its equity for AFC's Micro 21 assets, in an all stock deal valued at US$1.8 million, subject to regulatory and Exchange approval. The purchase price will be paid by the issuance of 2,500,000 Series A Units and 2,898,214 Series B Units of CarBiz, each at an ascribed price of $0.504 per Unit. Each Series A Unit consists of one common share of CarBiz and one purchase warrant exercisable into one common share of CarBiz for a period of 12 months from closing date at a purchase price of $2.25 (CDN). Each Series B Unit consists of one common share of CarBiz and one purchase warrant exercisable into one common share of CarBiz for a period of 24 months from closing date at a purchase price of $2.40 (CDN). Additionally, as a part of the letter of intent, at the next annual general meeting of CarBiz, shareholders will be asked to approve the issuance of 4,601,786 purchase warrants to ALLETE exercisable into one common share of CarBiz for a period of 24 months from closing date at a purchase price of $2.40 (CDN), subject to regulatory and Exchange approval. Also, a small group of shareholders who, as a collective group, hold approximately 8.55 million CarBiz shares, will grant ALLETE a right of first refusal, for a period of 36 months from the closing date, to acquire additional shares. Micro 21 provides AFC with a portfolio of dealer services to its 15,000 dealer-client base, including a Finance and Insurance (F&I) software solution designed to improve dealers' efficiency in the areas of vehicle financing. As a result of this investment, CarBiz will be a primary provider of technology products to AFC. AFC is the largest independent dealer floor plan financing company in North America, and is a wholly-owned subsidiary of ALLETE: a multi-services company based in Duluth, MN. Over the past five years AFC's market presence has expanded significantly to over $400 million in auto floor plan receivables. "We are looking forward to a mutually beneficial relationship with CarBiz.com," said John Fuller, CEO and President of AFC. "Many of our dealer clients currently require technology solutions and products that we do not offer; by selling Micro 21 to CarBiz.com we will now be able to offer our 15,000 dealers comprehensive solutions that are cost effective and easily integrated." "This transaction represents a tremendous opportunity for CarBiz.com to introduce itself to a huge network of automobile dealers, and will enable us to bundle our solutions and products with AFC's solutions," said Carl Ritter, CEO of CarBiz.com. "Our technology and training products have excellent synergies with AFC, allowing us to aggressively grow our business with their 15,000 dealers." ABOUT CARBIZ.COM Carbiz.com provides Internet and software solutions for the automotive industry. Its technology solutions offer a suite of dealer front-end management tools, and a complete e-commerce platform designed to connect financial institutions, credit bureaus, automobile dealers and consumers online. Carbiz.com's solutions allow consumers and dealers to establish a relationship via the Internet and other means, allowing consumers to search for dealers and vehicles, apply for vehicle financing and leasing, and provides them with a variety of financing options. Carbiz.com's technology solutions increase automobile dealers efficiency, improve their relationships with customers, expand their customer base by generating sales leads, and provides them with the tools needed to design, develop, and maintain their own web site. Carbiz.com's solutions are currently in use by over 6,000 North American automobile dealers. Forward-Looking Statements Investors should take note that certain statements in this press release are forward-looking and may not give full weight to all of the potential risks and uncertainties. These forward-looking statements include statements that are subject to risks and uncertainties (e.g., the risk that the transaction may not close). Forward-looking statements are subject by their nature to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the forward-looking statements. Any forward- looking statements speak only as of the date made. The Company is not undertaking to update any information in the foregoing reports until the effective date of its future reports required by the securities laws. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. SOURCE Carbiz.com, Inc. -------------------------------------------------------------------------------------- eCredit.com Names Christopher Richmond as New Chief Executive Officer
DEDHAM, Mass.--(BUSINESS WIRE)--Jan. 24, 2001-- Former GE Capital Executive to Lead eCredit.com in Next Phase of Growth eCredit.com today named Christopher H. Richmond as chief executive officer and a member of the company's board of directors. Company founder Venkat Srinivasan will continue as chairman, driving eCredit.com business and technology vision. Richmond was formerly president and CEO of the Commercial Equipment Financing (CEF) business of General Electric (GE) Capital Corp. CEF is GE's eighth largest business and recently ended a record year in sales revenue, growing to $22 billion. Under Richmond's direction, CEF met or exceeded its revenue projections for more than 20 consecutive quarters. "Bringing in Chris as CEO will help us secure the company's position as market leader in providing credit and underwriting solutions that drive financial liquidity in commerce," said Srinivasan. "Chris joins us from a company that is one of the world's best senior executive training grounds and brings the industry stature and collaborative management style that will help eCredit.com build long-lasting market leadership." According to Richmond, "eCredit.com has a very attractive value proposition - providing financial tools that help companies make money, which is critical in today's economic climate. It also has a sustainable business model that targets multiple, related markets where eCredit.com has demonstrated domain expertise and a strong customer track record. The company is at the beginning of what should be an exciting, high-growth market opportunity." Richmond joined GE Capital in 1991 and was promoted to president of GE Capital, Commercial Equipment Financing in 1994. Under his leadership, CEF had a portfolio of $42 billion and businesses in 11 countries in North America, Europe, Asia and Australia. CEF provides facilities and equipment financing to middle market companies. Prior to joining GE, Richmond was president and chief operating officer at the engineering and electronics consulting firm, Syska and Hennessey in New York. He also has 20 years experience in the public sector. "Horizontal services, such as finance, are the enablers of e-commerce, and eCredit.com is uniquely positioned to capitalize on the enormous opportunity created by helping its customers harness the power of the Internet to transform their businesses," said Ken Fox, co-founder and managing director at Internet Capital Group (NASDAQ: ICGE) and eCredit.com board member. "Chris Richmond's decision to lead eCredit.com is a strong validation of the company's fundamentals as a strong business. We believe he will bring the world-renowned management practices and operational discipline of GE to the dynamic, fast-growth environment of eCredit.com, helping drive revenue, profitability and long-term value." About eCredit.com eCredit.com enables Fortune 1000 companies, financial services organizations and e-businesses to transform business processes throughout the financing supply chain to strengthen customer relationships, increase customer purchasing power, and grow the bottom line. eCredit.com solutions automate credit and underwriting to better manage risk and deliver a portfolio of financing options at the point-of-sale. Included among the Company's customers and partners are CIT, Eastman Chemical, GMAC, Fleet Leasing, Gateway and Ryder System, Inc. eCredit.com, headquartered in Dedham, Mass., is a member of the Internet Capital Group partner company network. For additional information, visit eCredit.com on the Web at www.ecredit.com. CONTACT: Roopa Bhide eCredit.com (781) 752-1275 roopa@ecredit.com ------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------- Heller Puts "Spin" on Being Downgraded to "Stable" by Fitch They also state in the press release: "Along with the forecast for strong growth, McGrane cautioned that the leasing industry in general faces a credit crunch that could impair smaller lessors' ability to compete effectively, in that they are unable to borrow at competitive spreads. 'The flip side to growth in the equipment leasing industry is the need for greater amounts of capital to foster and sustain that growth,' he said. '"But because the money markets have tightened and securitizations are not being as well received in the capital markets, small leasing companies will have trouble securing the funding they need to compete.' (remember most of the business news is from press releases written by professionals who want to make everything to their advantage, change poor to great, make everything "hunky-dory." You need to read the entire press release, not just the first paragraph or two to get the full picture ( as noted above ). editor ) ( their press release ) 2001 Forecast :Equipment Leasing Industry Poised for Strong Performance AmidCooling Economy, Reports Heller Financial ( They are saying," If you have cash, now is the time to ask for a lease or a loan." ) Heller Financial, Inc. (NYSE: HF) predicts that the equipment leasing industry is on track for a solid performance in 2001, experiencing rising revenues even as the domestic economy continues to slow. Jim McGrane, Group President, Heller Global Vendor Finance, said equipment leasing is well positioned to take advantage of a cooler economic climate. "With GDP growth expected to decline in 2001, companies will be especially conscious of preserving cash, which makes leasing a very attractive option relative to purchasing," he said. "We already are seeing signs that more companies are electing to lease critical equipment rather than finance equipment purchases." McGrane also sees an opportunity for many equipment lessors to take advantage of recent developments in online technology to significantly streamline lease transaction processing, provide a higher level of service and further enhance revenues. Such technology is expected to particularly benefit those that specialize in lease transactions valued up to $100,000 and often feature standardized items. "We believe 2001 will be the 'year of execution' as many in the industry begin to reap the benefits of technological advances, especially those of us in small-ticket leasing," said McGrane. "The dramatic efficiency gains online technology offers will make leasing more profitable for lessors and more attractive to end-users." McGrane added that since the average small-ticket lease is approximately one-tenth the size of a lease in the middle-market segment, technology is vital for achieving the economies of scale that help compensate for the lower per-transaction revenues of smaller leases. According to McGrane, the industry now faces the challenge of deploying this specialized online technology in the leasing marketplace. "With outstanding new tools being developed specifically for small-ticket equipment leasing applications, the focus shifts to implementation," he said. "The key issue for lessors will be convincing the market to adopt the new technology on a broad scale." McGrane acknowledged that technology has already provided significant gains in processing efficiency, one of the leasing industry's chief concerns. He cited the Equipment Leasing and Finance Foundation's "State of the Industry Report 2000," which described technological advances as triggering a 7.5 percent decrease in average application turnaround time for small- and micro-ticket leasing. Along with the forecast for strong growth, McGrane cautioned that the leasing industry in general faces a credit crunch that could impair smaller lessors' ability to compete effectively, in that they are unable to borrow at competitive spreads. "The flip side to growth in the equipment leasing industry is the need for greater amounts of capital to foster and sustain that growth," he said. "But because the money markets have tightened and securitizations are not being as well received in the capital markets, small leasing companies will have trouble securing the funding they need to compete." McGrane said he expects more consolidation within the industry, with larger, investment-grade lessors possibly acquiring smaller competitors, facilitated by larger lessors' ready access to funds through the capital markets. Heller Global Vendor Finance, part of the company's Leasing Services business unit, structures, markets and services global and domestic leasing programs for equipment manufacturers, distributors and dealers. It offers the expertise necessary to service both high-volume, small-ticket transactions, and larger, more customized enterprise structures. According to Heller, equipment-leasing industry highlights for 2001 are likely to include: -- Technology paving the path to increased business and profitability. For lessors and vendors alike, online technology is positioned to change the landscape for the majority of equipment leasing transactions under $100,000. With processing that previously required hours or days now capable of being completed in a matter of minutes, the leasing option will have greater appeal for end-users while enhancing lessors' operating margins. "An increasingly larger percentage of standardized, flow-oriented, small-ticket transactions will be facilitated online as new technology is implemented," McGrane observed. "Still, there will always be a need for human expertise in handling larger transactions that require customized structures." McGrane added that Heller would continue to serve both segments. "Our technological capacity and service capabilities allow us to meet the needs of customers at either end of this dynamic spectrum," he said. -- Addressing the talent shortfall in the industry. "As today's leasing industry advances, it requires a rare combination of both business and technological skills," McGrane said. "And, because equipment leasing is a relatively small industry that consolidation is making even smaller, it's easier for a competitor to identify and raid your star performers. With talent at a premium, it's critical to develop strategies to reduce turnover." The equipment leasing industry now faces the challenge of blending the skills of veteran professionals who have broad industry knowledge and proven sales ability with the technology savvy of newer employees, he added. -- Pursuit of new international opportunities. "All of the elements are in place for leasing to take hold in parts of the world where it has thus far been an under utilized financing option, particularly the Asia Pacific region," said McGrane. "In countries like Japan, Korea and China, the fast-paced business climate fosters the potential for tremendous expansion in our industry." McGrane added that many businesses see leasing as particularly advantageous during their rapid-growth stages, when financing a purchase may be prohibitively costly for a developing company. McGrane also sees possibilities for accelerated growth in Latin America, though he cautioned that the region's inflationary economies and political instability are potential obstacles. Heller Financial, Inc., is a worldwide commercial finance company providing a broad range of sophisticated, collateralized financing solutions. With $20 billion in total assets, Heller offers equipment financing and leasing, sales finance programs, collateral- and cash flow-based financing, financing for health care companies and financing for commercial real estate. The Company also offers trade finance, factoring, asset-based lending, leasing and vendor finance products and programs to clients in Europe, Asia, and Latin America. Heller's common stock is listed as "HF" on the New York and Chicago Stock Exchanges. Heller can be found on the World Wide Web at http://www.hellerfinancial.com . The statements made by the Company in this news release may include certain forward-looking statements that reflect the Company's current expectations regarding its future growth, results and performance. These forward-looking statements are subject to a variety of risks and uncertainties, which could cause the Company's future growth, results and performance to differ materially from those expressed in, or implied by, these statements. Information concerning these risks and uncertainties is contained in the quarterly and annual reports that the Company files with the Securities and Exchange Commission. SOURCE Heller Financial, Inc. ------------------------------------------------------------------------------- Rocky Road Except for " High-yield Investment Grade Corporate Bonds" ( their press release ) |