January 8, 2001

at "press time"

Preferred Capital may have been purchased by Capital Works.
Several insides tell me a team was in Tahoe training some of the Preferred employees. Last week Mark Seif said the deal was off, but perhaps it is on, again.

Headlines--

United Capital, Austin, Texas

I heard from two of our lessees that we brokered to United Capital that they received letters saying that the leases are now being serviced by Old Kent Leasing in Lombard, IL and if they are contacted for payment by United Capital they should tell Old Kent at once. Both companies ACH'd my customer's bank accounts in December so I had to take two angry phone calls.

Name Withheld

( We also have heard from original "insiders" that vendors still are not paid on a number of deals, and things seem to be going from bad to worse as without new business, the overhead is high and in this leasing economy, morale is pretty low. We have several calls into Steve Dallas, president, but no response. editor ).

United Association of Equipment Leasing Dues

I am one of those that believe anonymity is cowardice. Those that lodged their displeasure against the UAEL not using their names are the reason why the UAEL is not the quality organization it once was. The members are afraid to voice their opinion. Maybe you were the ones that wouldn't sign my petition two years ago...but the only way things get done are by using your voice and your name. If you don't the board and it's political machinations will indeed run this organization as it is doing now. It doesn't hear the voices.

I do regret that you beat me to the punch regarding dues....my dues at the UAEL are 30% higher than ELA...those that say they can't afford the ELA should think twice. You get 3 times the service at 1/3 less the price. The UAEL when it was WAEL was a great, vibrant organization. I first attended in 1989 and was one of two East coast companies. I raved about WAEL....but like a lot of the companies on Kits "list", WAEL wanted to be a "whale" and not a minnow..so it became UAEL. To this day I do not know why. Bigger is not always better. Quality always is. Orlando was a bomb. I do not pay to be in DisneyWorld with an empty room.

Joanie, I wish you luck...I hope that you have the strength, I know you have the intelligence, to stand up to the "board" and work for the good of the organization, not the select few that run it.

Sincerely,

Deborah J. Monosson
President
BOSTON FINANCIAL & EQUITY CORPORATION
20 Overland Street, 4th Floor, Boston, MA 02215
617-267-2900
617-437-7601 Fax
debbie@bfec.com

UAEL Past President Bob Rodi on Joan Dalton and Membership Dues

I would like to answer those comments, both printed and not printed, regarding the appointment of Joan Dalton as managing director of the UAEL. This was given much thought by the leadership of the association. As president I appointed a task force comprised of several of our esteemed past presidents and one of our attorney members. They were charged with examining all of the staff operations of the UAEL and making recommendations to the board of directors. They conducted an extensive interview with Joan Dalton and it was their unanimous recommendation that she be appointed to the position of managing director. The change in the title had less to do with her salary and more to do with the job description that was recommended by the task force.

With respect to the dues increase I would like to advise all that is not a unilateral decision made by the leadership in any given year. The organizational policy of the UAEL,(incidentally this is available along with the by-laws for any member to read and understand)calls for a yearly 5% increase in dues. In the budgetary process this year the board and executive committee worked very hard to limit the increase to the prescribed 5%.

With respect to Dr. Williams there is little I can say in either a public or private forum regarding his departure. However, I will say, that as the year 2000 president, the last thing that I wanted to deal with was the reorganization of the UAEL staff, the departure of a tenured Executive Director, and the cost to the association that all of those events entail. Many of those who know me also know that I wouldn't have taken on any of those problems if it had not been for the long term good of the UAEL.

If this causes some members to re-think their membership then maybe that's not a bad thing. If those members were satisfied with the UAEL and the way it was being managed then they probably won't like the new, more efficient and member responsive systems that we've put in place.

I make no apologies for the action taken by me, my executive committee or my board of directors. We have a responsibility and a duty to the membership to mange the budget of the UAEL making certain that the money raised from dues, conferences and other activities is spent or invested properly. If any member of the leadership recognizes that this is not being done in accordance with the by-laws or policies of the organization then it is incumbent upon that individual or group to take the appropriate action.

With respect to Mr. Goodan's comments about the tendency of the board and excom to "micro mange" I can only say that no member of the executive committee, that I have known, has a deep seated desire to run an association. If I had wanted that as a career choice I would have gone that way. On the other hand, however, if the association and staff is not being managed properly then somebody has to be an adult and do the job. That is the responsibility you accept when you "volunteer".

Joan Dalton is highly qualified to manage the UAEL. Most of her duties will simply be a continuation of her job as executive assistant. In addition we consulted the ASAE and examined their published data on associations comparable to the UAEL. The ASAE trends show a movement away from the "strong executive" and towards the team management approach. We have added Bill Grohe, and long time member of WAEL/UAEL, as Director of Membership. An announcement should be in your mailboxes on this shortly.

This is not the time to leave the UAEL. This is the time to renew and become a member of a stronger association with a staff and leadership that is dedicated to and looking out for its members.

Thank you,

Bob Rodi
Imediate Past President
UAEL
drlease@leasenow.com

One Deals Pays More than the Dues

Saw in your last communication where someone was complaining about the cost of UAEL membership going up again. Without reiterating the benefits of being a member, just the fact that they make available two conferences a year should be enough. If one thinks about the membership dues for the smallest firm, it is less than 1 point added to a $50K deal over the course of a year.

Steve Reid
Santa Barbara Bank & Trust
sr-sbbt@postoffice.pacbell.net

Dear Kit,

I have been reading some of the comments on the problems at UAEL and some thoughts come to mind. As a member of UAEL for 16+ years we have seen the association grow from a small group managed by the members themselves to a larger (more national) professionally managed association. The growth of all small industry groups always seems to follow the same pattern. At first, the association is mainly run by members who (knowing their own needs) do a great job in providing value to the membership. But as an association gets bigger, it becomes time to hire a professional staff to run things. This is where some associations "blow off course". To some degree, professionally run organizations are a lot like the federal government - their job is to increase the budget and staff. Programs and services that do not especially enhance the membership but bring in revenue can be pushed long past their useful life.

To demonstrate, take a look at the regional funding retreats. Sometimes their have been more funders exhibiting than there have been individual attendees. This has happened fairly often. So why do they continue? Well, if 25 exhibitors each pay $450 (the actual price) and you have 20 attendees paying $125 you end up netting $11,500 even though the meeting was a disaster. Now sure there is some cost for the meeting, but most of these hotels will give you cheap space just to get the hotel rooms filled.

Now remember, these are the economics from a total failure. Also remember that there are six of these mini retreats each year in addition to the two larger conventions. These little retreats have lost a lot of their value through the years, but they will remain "on the platter" because they generate budget. One additional nasty effect of these retreats is that they have caused the demise of the best part of being a member - the now defunct "local get together" of members. Our region used to have tiny gatherings, golf tournaments, and socials that often yielded better contacts and friendships than a scheduled 15 minute funding retreat could ever produce. I miss those times.

We are also members of NAELB, and in the last few years have gotten tremendous value from this organization. They have been member run and managed up until this year when they also switched to a professionally managed crew. I hope they also do not lose that "small association" feeling. They have been a breath of fresh air in the last few years. As for the UAEL, I sure hope that they can "level the ship" and get back on the same page as the members. The failed Orlando conference was a blatant attempt to "go national" when the UAEL's roots are still Western (no matter what they say). There is no need for the UAEL to try to be another ELA. I want to be in an association where I know most of the members. I hope all these lessons are now learned, for when this association works, it pays for its membership 50 fold.

Sincerely,

John Boettigheimer
President
Pioneer Capital Corporation
johnb@pioneercapitalcorp.com

Oh, what the hell?

Oh, what the hell? I have to put my two cents in here. I absolutely agree that the costs of being active in the UAEL are way out of line with the benefits. Example: New members will get a discount of about $20, for signing up, but they have to go to a "retreat" to get it. The retreat costs $150. Does that make sense???

On the other hand, I think your news letter is a real contribution to the industry. But I keep reading your notice about Balboa and don't get it. Balboa Capital Founder Pat Byrne "office available any time". What the hell does that mean?

Hugh Bennett
HB Enterprises
hbent1@pacbell.net

( We have had several stories on this, and I have tried to reach Pat Byrne by telephone. We were informed he is no longer "active" in the company. We reported on the change in management, and were told he was "kicked off the board." I don't know how a share holder can be removed in this manner, and tried to reach him. At the UAEL conference, I asked the Balboa representative was it true Byrne was no longer running the company. She did not answer. I then asked her does he still work at Balboa. She then told me he has an office there, if he wants to use it.
http://www.leasingnews.org/archives/September/9-19-00.htm

First Story, from several sources, one now a former vice-president/branch manager: http://www.leasingnews.org/archives/August/8-09-00.htm editor )

Bill Grohe! Hooray!!!

Kit, did you hear that Bill Grohe (ex-President of UAEL) joined the UAEL staff this week as Director of Membership and Marketing? Hopefully with Bill's vast experience with UAEL and its members, he can help counteract some of the dissention arising from Ray's firing, Joanie's appointment and the dues increase. I am sorry to see so many negative comments from UAEL members; if they want to make improvements, they should become active on UAEL committees.

Bruce Kropschot
BKropschot@aol.com

Evidently this was sent to UAEL members, although we did not receive it.

Date: January 2, 2001
To:Members of UAEL
From:Joanie Dalton, Managing Director

I am pleased to announce the appointment of William E. Grohe as Director of Membership and Marketing for the United Association of Equipment Leasing.

While Bill's assignment will encompass many functions, his greatest contribution will be in the membership and marketing areas.

Bill has been in the equipment leasing industry for 39 years and is a Past President of WAEL/UAEL. His dedication and experience is an invaluable contribution to the staff and membership.

UAEL | United Association of Equipment Leasing It's All About Success: Involvment * Networking * Education

520 Third Street, Suite 207
Oakland, CA 94607
510.444.9235
510.444.1346 - Fax
http://www.uael.org>www.uael.org

About Grohe

Bill is not a Leasing News reader, nor for a fact, are many board members of the United Association of Equipment Leasing. He was president in 1991. I could not find a listing for him in the UAEL Membership Directory or for his company. We hope to have a biography on Bill in the near future. I personally have known him for many years, and from what I remember, he "sold" his leasing company to his daughter a number of years ago and has been in the medical consulting business, primarily working with new physicians, out of his San Francisco home. He is a champion swimmer and also quite a yachtsman, as I remember.

Leasing News Bulletin Board Addition http://www.leasingnews.org/bulletin_board.htm

note: Please do not confuse Lease Capital, Inc of Alabama, Bo Bohannon, with Lease Capital, California, Martin Baraeske. They are not affiliated

----Lease Capital---Martin Bareske Complaint

Mr. Marteske---

This came to us originally as a complaint on November 28 for the Leasing News Bulletin Board.
You responded by e-mail on several occasions, the last being December 2, that the funds would be returned. Here it is 13 days later, and according to lessee, the money has not been returned. Here is what Keith Ahearn as to say.

They are again asking me to post this, from very beginning, and I would like to know if there is anything new you would like to add before posting this on LeasingNews, which we will do after January 2 as 30 days from your promise date is a reasonable period of time.

Mr. Menkin,
I would like to inform you of the status of my failed sales / leaseback commitment with Mr. Barteske. I realize that Sheila has been corresponding and has informed you of all of the lies and misdirection that Lease Capital has done. Realizing that not doing the proper research caused the majority of my problems. When I was contacted by Mr. Barteske, on the footer of his fax was , Member of the NAELB and even the last fax received still has it . Below this is the Better Business Bureau of So. Cal.
Atleast when you pull them up on their web site they inform you that doing business with Lease Capital is pretty risky. As of this date I have not received the $3,825.00 and it looks like I never will. Meanwhile I watch my business slowly slipping away, not just from the loss of revenue but from losing 6 weeks of valuable time. Most of my vendors have had enough of waiting for me to find the funding necessary to continue on. I'm getting close to losing every thing i've worked for and pretty much lost hope. I don't intend on this letter to sound like I'm crying the blues, quite the contrary. It's a shame that a piece of "work" like Barteske can topple small business owners with cash flow problems so easily while riding on the coattails of brokers who work hard at their profession.

Thank you,
Keith Ahearn
1unicorn2@PRODIGY.NET
Precision Diagnostics Plus Inc.

Kit, As of today, Jan 6, 2001, We have not heard or received any of the money that we were supposed to have returned to us from Mr. Barteske. He last told us that he was looking into the situation and would let us know something, but we have not heard a thing. He can write a good letter when he needs to cover his butt, but when it comes down to it he just a bunch of lies and excuses.

Keith Ahearn
1unicorn2@PRODIGY.NET

BULLETIN BOARD ( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in good

Lease Capital/Martin J. Barteske Complaint 1/06/2001
NAELB Expels Lease Capital Corporation/Principal Martin J. Barteske 11/16/00
FMC Leasing Confirms Gibraltor Financial Complaint 10/05/2000
Gibraltor Financial Complaint 10/04
BSB Leasing Complaint 9/26
Leasing Network Purchase Option Problems 7/26
Universal Capital reported by Citation Financial 7/19
Universal Capital Cut Off by BSB 7/12
Universal Capital Service 7/5
Parker Leasing and Financing 6/16
Dodson Group complaint 6/15
Universal Capital Service 6/12
Metropolitan Group Question 6/1

KIT, PLEASE PLACE A NOTE IN YOUR LETTER THAT LEASE CAPITAL, INC OF ALABAMA , BO BOHANNON PAST BOARD MEMBER AND VICE-PRESIDENT OF NAELB, IS IN GOOD STANDING WITH NAELB AND IS NOT AFFILIATED WITH LEASE CAPITAL OF CALFORNIA .

THANKS
BO BOHANNON, PRESIDENT

NAELB Expels Lease Capital Corporation/Principal Martin J. Barteske
Martin Barteske, CEO
20902 Brookhurst Street, Suite 204,
Huntington Beach, CA 92646-6637
Toll Free Phone: (866) 836-5600 (866) 964-8350
Toll Free Fax: (866) 834-5600 (800) 964-2140

www.LeaseCapital.net / ceo@leasecapital.net
TO: ALL MEMBERS OF THE NAELB
FR: JOE BONANNO, ESQ., NAELB LEGAL COUNSEL
DT: NOVEMBER 15, 2000

To All Members of the NAELB: This correspondence is to advise all members of the NAELB that the Board of Directors, in conjunction with the NAELB Ethics Program, has taken action against a member of the NAELB. The Board of Directors takes this action after there is a process of a complaint being filed against a member, a response process taking place, a review by the NAELB Ethics Committee and a referral by the NAELB Ethics Committee to the Board of Directors. Therefore, this is a process whereby there is ample time for the resolution of the matter, review by multiple individuals and finally a review by the Board of Directors. Every benefit of the doubt is extended to the parties involved and there is a specific procedure that is followed along the way.
A matter that did reach the Board of Directors involving a company called Lease Capital Corporation located at 20902 Brookhurst Street, Huntington Beach, CA of which an individual known as Martin J. Barteske is the principal. The Board of Directors, in accordance with the Ethics Procedure voted in place by the voting membership of the NAELB, has voted to expel Lease Capital Corporation from membership in the NAELB effective immediately.
As always, the NAELB encourages our members to conduct business with members and in the event there is difficulty between members, the NAELB can attempt to resolve the matter or in the extreme case, expel a member from membership. We at the NAELB are hopeful that our members find the ethics program to be a great member benefit.
( We had a posting regarding an incident with Lease Capital Corporation and Martin Barteske with much documentation, but believe we were successful and the sender asked us to withhold the information. Much of the "complaints" we get are settled by others, such as the National Association of Equipment Lease Brokers. The $295 membership fee is the lowest in the industry and you not only get help such as above, but the naelb post, ability to instantly contact fellow members on line for help in finding a source, or answering a question, is worth much more than the membership fee, believe me. Having access to both Barry Marks and Joseph Bonnano---that's priceless. www.naelb.org.----editor )

FMC Leasing Confirms Gibraltor Financial Complaint 10/05/2000
I don't doubt Paul Von Bruck's story regarding Gibraltar Financial. We have had a similar experience. They accepted upfront lease payments and then declined the deal. They then refused to return the payments with the justification that they had to work on the deal; therefore, they had earned the money. There is no upfront disclosure. We only became aware of their questionable practices after they had accepted funds. I'm sure this won't be the last email you'll receive regarding Gibraltar.

Ron Jupka
FMC Leasing Corp
;fmcsales@mt.net
Gibraltor Financial Complaint 10/04
We brokered a transaction to Gibraltar Financial recently and suffered serious problems. It started when they requested we obtain a signed commitment letter. We did. Cliff Wagner, Beth, Donna and Todd told me they were funding the deal. This was a lie. No big deal however as long as the deal get's done. Our customer then received a letter from Ford saying they were declined. Given Gibraltar's good standing among the various leasing organizations(UAEL etc..), I gave them the benefit of the doubt. They stated, we have someone who will do this deal. We delayed the vendor and lessee for 75 days as we received the same statement over and over from Cliff, Beth, Donna and Todd. Then they stopped returning calls from us the vendor and lessee. After dozens of calls Cliff finally informed me that they "could not get the deal done". We immediately requested a return of the customers commitment fee. We overnighter our portion(2k). We felt so sorry for this guy we could do no less. It has now been 135 days apx. 60 apx days since the decline. When I contacted Cliff and asked why he had not returned the deposit, he stated "Oh, I forgot about that. I'll get it taken care of." 20 days later I got a call from the vendor's Attorney. They are threatening us since we put the deal together and since Gibraltar will not return their calls. (The vendor and lessee have known of Gibraltor through the whole deal) So I called Cliff again. He stated, " Oh wow, they are still pursuing this, I'll get there money out ASAP." 30+ days later nothing has been sent. Cliff Wagner refuses to return any calls. Every time we call, he is on the line. They must have a call identifier. This assumption is backed by some evidence. He refuses to return messages. Based upon his comment "they (the lessee) are still pursuing this?" as if he is confused why a customer would want their $5,000 back, I believe Gibraltar wants to keep this person's money. If any of you can help this lessee with a lease feel! free.
I thought they were reasonably solid. They are called Cap of MB out of South Carolina. My number is 888-468-5822 x 208 Paul von Bruck Capital Funding Group.
P.S: I have Gibraltor's messages saved on our message machine if any of you doubt this message

BSB Leasing Complaint
Hello Kit - After reading your note from BSB LEASING, I found myself unable to sit still and not submit this to you. At this moment I do not desire to get this too complicated ~ however, I do wish to put on record in your newsletter, that some folks in the leasing industry speak from several sides of their mouth. I have worked hard to quietly maintain dignity, integrity and decorum in this industry since I started in it in 1979. Over the last two years, I have had clients contacted directly by BSB LEASING in Denver, and other 'competitors' salespersons or account persons or whatever politically correct title they wish to have assigned to them - In any event, MY clients have been told, upon being telephoned by before mentioned competitors that LJR LEASING was "OUT OF BUSINESS" when my dear clientele inquired of my where-abouts. And, by the way, these competitors somehow managed to access private client data from some of the largest DIRECT LENDERS there are. Just wanted to make myself heard.
thanks.
Lori Reicheg -
We have never had Lori or LJR Leasing as a broker with BSB Leasing. I challenge her to show how we could have contacted her customers when we have never dealt with her. We do have in house sales people that compete for business with the leasing world but our broker side acts as a separate unit and no information is shared. If she did do business with us she would know how honorable a company BSB Leasing is. Please feel free to give her my phone number. I would be more than happy to talk with her about it. We have been in business for close to 20 years, funded almost 400 million dollars in leases, dealt with almost 400 brokers, if we were stealing brokers customers I think it would have surfaced by now at NAELB or UAEL. If you check the record we have never had a single complaint in our history.
Bruce Zwillinger
Vice President BSB Leasing
I have never been a broker that used BSB or any other source to fund a transaction. I have been a DIRECT BROKER since 1979. In 1998 I was forwarded a letter from a client who had been contacted weekly by telephone after receiving a letter from BSB Leasing. That letter was forwarded to Stephanie Desparois at GE Capital/Colonial Pacific Leasing. The letter said something to the effect of "BSB is now the designated leasing source for COLONIAL PACIFIC LEASING CORP". My client was told by whomever from BSB then began a weekly telephone solicitation, that LJR was either out of business or likely out of business. That particular letter was the beginning of a rather nasty and unpleasant series of events at GE/CPLC for me, where I had been a DIRECT BROKER since 1983 with an OUTSTANDING portfolio w/under 1% delinquency. In addition to BSB, another 'source' in Southern California named Alliance Funding managed to access my Client Portfolio information maintained at CPLC - and began an extensive and exhausting solicitation of my clientele - so much so that I was again told by Ms Desparois that they were also sent a "Cease & Desist" letter - this information was told to me by Ms Desparois as instructed by Curt Lysne.
The 'challenge' from Mr Zwillinger will not be responded to. It is a nasty 'game' that is played in an industry that is unregulated and unchallenged, and I have never, nor will I ever participate in the play. Since around the time of the buy-out of CPLC from Pitney Bowes by GE there has been a great deal of unprofessional activity and behavior. Perhaps it started by unscrupulous activity 'on the inside' for financial gain. I have as I stated, maintained a quiet dignity about the manner in which I have provided my service. My vendors and clients, tho fewer in number than BSB I'm sure, have remained loyal to my service thru these nearly 17 years, knowing that I did not engage in the oft-engaged practice of deception or other abominable behavior to earn my living.
Sincerely,
Lori Reicheg
TommyLori@cabomagic.com
Leasing Network Purchase Option Problems
Notice: Received reports from three brokers now about leases they put together through network group to funding source has fmv not 10% purchase options. Disputes trying to be resolved. Any broker experiencing the same, please notify Leasingnews.org. All information will be kept confidential and will not be published without your specific permission.
7/26
Universal Capital Services
Kit, my company, Citation Financial Group located in Fair Oaks, CA (Sacramento) is one of the companies having a problem with Universal Capital Services. They have not returned a Lessee's advance payment nor have they paid us our commission on a brokered transaction. I have sent documents to the NALEB attorney, who is following up on our complaint with UCS. We have also contacted a collection attorney in Florida. If you know of others who have been wronged by these people, please have them contact me. If you want all of the details I will be happy to e-mail them to you. We need to stop companies who make a bad name for the industry.
Thanks,
Allen Greenberg
Citation Financial Group
(916)535-7710
ag-cfg@pacbell.net
Bruce Zwillinger, BSB, cuts off Universal Capital Service
Bruce Zwillinger, BSB, cuts off Universal Capital Service, Springhill, Florida informs NAELB of their action. This company not returning money to lessee from deal funding by BSB. Many attempts to get money returned to lessee, but many broker promises by Universal Capital Service.
7/12
Universal Capital Services
Source states Universal Capital Services, Springhill, Florida, took up-front fees on deal and has not returned to lessee. Lessee is complaining to funding source. This is the third complaint received on this. Source is trying to find out more and request this be posted on bulletin board. Source will allow us to state name, if this is not resolved.
7/5
Parker Leasing
$25,000 SD $29,000 first and last three months did not return money Parker Leasing and Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints, advised to pull a D&B, find out who the secured parties are and if I can identify them, will give them the person to call at the funding source to hear the full story about what is happening. Parker Leasing and Financing refuses to return commitment fee and first and last.
6/16
Dodson Group - Delivery Charge
We had been using the Dodson Group for overnight (Airborne) until recently. They were charging us $8.75 per overnight (their cost to Airborne is $7.61, who cares, they deserve a profit). But, in auditing our bills for the last 2 years we kept noticing that we were being repeatedly charged $12.00 to $18.75 for overnight on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight", so we researched further and discovered that most of the overcharges were on checks going out overnight to vendors and brokers - no way this could be "overweight". For the past year we have faxed and called Dodson repeatedly to get corrected invoices - no one would even respond! So, we put them on notice that we would not pay any more invoices until they corrected their over billing problem - they never did. Their response was to turn us over to a collection agency! We are convinced they purposely overcharged us, and probably every other client! Dodson does a lot of biz with NAELB brokers, don't these brokers need to know about Dodson's policy of quoting one price and charging another?
6/15
Universal Finance / Universal Manufacturing
Avoid this company like the plague. I believe that if it is the same one they also run companies under the name(s) Universal Manufacturing -(Vendor) & Universal Finance (Credit repair company). I'll look up the e-mail I received on this a while back. I think what the story was is that Universal Capital would submit a deal to funding source, then if declined due to personal credit, Universal Finance would repair credit then resubmit elsewhere. The vendor would be Universal Manufacturing who would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then they split excess with lessee. Though I'm not sure about the Florida part. I'll get back with the additional info ASAP.
6/12
Universal Capital
Do you know anything about Univerasl Capital Services, Inc., in Spring Hill, Florida 34606. One of the lease brokers I work with is having trouble getting paid on a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know if you hear anything. Thanks.
6/12
Metropolitan Mortgage Metropolitan Mortgage and Sec in Washington had a division that funded the lesser credits. Well they have stopped and are not honoring their approvals if they don't already have signed docs. This was told to me by a broker in Arizona who has 10 deals sitting with them and she is now scrambling to replace them.
6/12

Vote for the "Pioneer of Leasing"

Several Categories:

Big Ticket
Middle Market
Small Ticket
Captive
Vendor
Service Provider

Please recognie your favorite. It may be a "most popular" contest, but if you don't participate, your vote or voice will not be heard. Remember "Florida!"

The Equipment Financing Journal (EFJ), published by R.H. Caruso & Co., Inc. is currently accepting online nominations for the distinction of "Pioneer of Leasing" for a feature article slated for mid-2001. The EFJ is requesting reader assistance in determining which individuals have made the most impact on equipment leasing during its formative years between 1960-1980. Categories included are: Big-Ticket, Middle-Market, Small-Ticket, Captive, Vendor and Service Provider. Those interested can obtain more information and cast their votes online at http://www.efj.com/pages/poll_form.asp until January 31.

When the voting is completed, a panel of judges will determine the top two "Pioneers of Leasing" in each category. These significant individuals will be the focus of a comprehensive feature that covers the history of equipment leasing. For more information contact The EFJ at 716-885-0444 or editor@efj.com.

------------------------------------------------------------------------------ DocuTouch Named '50 to Watch' In First Quarter 2001; LocalBusiness.com Selects DocuTouch as a Hot, Vibrant, Industry-Smart Company

SEATTLE--(BUSINESS WIRE)--Jan. 8, 2001--Seattle-based DocuTouch(TM), a company that provides corporations with a secure, legally binding online application to manage, close and archive digitally signed transactions quickly and cost-effectively, was selected as one of LocalBusiness.com's "50 Companies to Watch" in first quarter 2001.

Every quarter LocalBusiness.com reporters and editors select emerging small-to-mid-cap private and public companies worthy of recognition that have the potential to become industry leaders. The selection criteria include a company's potential to: impact the local economy; deliver leading-edge products and services; and offer traditional goods and services in an innovative way. Companies that have impressive business models, significant venture capital, or a strong, seasoned management team and board also can make the cut.

"Our designation on the '50 to Watch' list is reflective of our company's stability and future prospects in today's volatile Internet market," said DocuTouch CEO and founder Mir Hajmiragha. "Legislation recently passed in the U.S. and coming this year in Japan and Europe have served to legitimize and build serious momentum for digital signature solution providers like DocuTouch. We're pleased to have LocalBusiness.com's vote of confidence in 2001."

AMR Research, Inc. (Boston) predicts that the enterprise Application Service Provider (ASP) market that DocuTouch occupies will reach $4.7 billion by 2004, with a compound annual growth rate of 153 percent. Bryan Keene, an analyst at Prudential Securities Inc., estimates that electronic and digital signatures will lead to 80 percent of all financial transactions being completely automated in the next five years.

Formerly dbusiness.com, LocalBusiness.com is an Internet resource for news, information and resources on local business in markets throughout the United States. DocuTouch (www.docutouch.com), established in 1998 by Mir Hajmiragha, a former Microsoft Internet Infrastructure Engineering Group Manager, provides mortgage lending, insurance, leasing, healthcare and legal markets with the time and cost efficiencies that come from managing, signing, closing and archiving legally binding contracts and transactions entirely online. PC Magazine, in a technical review by Edward Mendelsen, rated DocuTouch's online application "as solid as Fort Knox." Headquartered in Seattle, the company is funded by Timberline Ventures, Irwin Ventures, and Mitsui & Co. DocuTouch(TM) and DocuSign(TM) are trademarks of DocuTouch Corporation; all other trademarks are the property of their respective owners.

CONTACT:
DocuTouch Katherine Ord,
206/505-5830
kord@docutouch.com

Charter One Launches Free Online Banking

First of Several Significant Online Initiatives Planned for 2001

CLEVELAND, Jan. 8 /PRNewswire/ -- Charter One Financial, Inc. (NYSE: CF) today launched its free online banking service at www.charterone.com , providing its customers with free bill payment capabilities, account transfers and round-the-clock access to all of their Charter One accounts. The launch of Charter One's online banking, which includes a complete renovation of its website to better serve customers, is one of several online initiatives planned for 2001. Over the course of the next several months, Charter One will introduce a wireless banking service, online banking for small businesses and online brokerage services.

"Our free online banking is another example of how Charter One continues to offer the best financial products and services at the best prices, be it in on the web, by phone or in a branch," said Charles John Koch, Charter One's chairman and chief executive. "Our online services bolster our growing direct banking effort and will provide another vital link to our customers. Because it so well integrated with our telephone centers and branch network, any transaction will be a seamless experience."

At www.charterone.com , customers will be able to pay bills to virtually anyone in the U.S. -- even small bills like lawn care or their newscarrier. Coupled with unique features like immediate online enrollment, viewing past bank statements online and online check ordering, the site is a powerful tool for Charter One customers.

Charter One has signed a licensing agreement with Brokat Inc., the world's leading supplier of e-banking and e-business solutions, for its browser-based retail suite and business banking suite that provide secure access from browsers and mobile phones. Charter One has implemented Brokat's award- winning platform, Twister(TM), to provide its customers with state-of-the-art online banking services.

"We have partnered with some of the world's best e-business companies to deliver an intuitive and smart website," said Mike Dobbins, Charter One's vice president of direct banking. "By making it free, we have taken away the barriers to using an online service. And in doing so, customers will ultimately want to add more products to their relationship with us."

Mark Grossi, Charter One's executive vice president of retail banking, said that the enhancements to www.charterone.com are an important part of the Bank's direct banking effort. "Now, customers all over the country can take advantage of our great deposit and loan products by web or phone and then access them immediately online. Our goal is to keep it simple and make the process of buying our products and managing accounts easy."

Charter One has approximately $33 billion in total assets, making it one of the 30 largest bank holding companies in the country. The Bank has more than 420 branch locations in Ohio, Michigan, New York, Illinois, Massachusetts, and Vermont. The Company's diverse product set includes: consumer banking, indirect auto finance, commercial leasing, business lending, commercial real estate lending, mortgage banking and retail investment products. For more information, visit www.charterone.com .

SOURCE
Charter One Financial, Inc.
CO: Charter One Financial, Inc.
ST: Ohio

Powerfarm.com Introduces Real-Time Fertilizer Pricing

CEDAR FALLS, Iowa, Jan. 8 /PRNewswire/ -- Powerfarm, Inc., a wholly owned subsidiary of Ag Services of America (NYSE: ASV), today announced the introduction of real-time pricing for fertilizer products available to purchase and finance though Powerfarm.com.

Through strategic partnerships with multiple fertilizer manufacturers, Powerfarm now has instant pricing available on twenty of the more common fertilizer blends and products, along with the ability to request additional fertilizer blends. Prior to this enhancement, fertilizer was available through Powerfarm.com by requesting a product and allowing an agronomist to manually return a price and complete the order.

"Our new approach to fertilizer is exciting for a couple of reasons," stated Tad Mozena, spokesman for the company. "First, it allows Powerfarm users to get instant price quotes for the fertilizer products they want, and second it allows us to become much more efficient in the pricing and processing of fertilizer orders."

Powerfarm.com has compiled the most comprehensive assortment of agriculture products, services, credit and leasing options available on the Internet today. Products currently available include seed, fertilizer and crop protection products, along with headline ag news, market quotes and weather. Growers can shop at their convenience day or night for products and sign up for additional services like crop insurance, grain marketing programs, crop scouting and soil sampling services. Within the Powerfarm Community, growers can post questions for the company's agronomists and Certified Crop Advisors, as well as communicate with other producers around the world to share ideas and discuss topics of concern.

Ag Services of America, Inc., which operates Powerfarm.com, is based in Cedar Falls, Iowa, and is a leading supplier of input financing and agricultural inputs, including seed, chemicals, fertilizer and cash advances to primarily corn and soybean growers in the U.S. ASV's one-stop shopping business model includes competitive and flexible financing packages through its AgriFlex Credit(R) program combined with the most comprehensive offering of agricultural inputs from national sources such as Asgrow, BASF, Bayer, Dekalb, Dow AgroSciences, DuPont, Garst, Monsanto, Pioneer Hi-Bred and Syngenta. The Company also provides ancillary services such as crop insurance, crop scouting and grain marketing.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. This release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially, include the following: general economic conditions within the agricultural industry; competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; changes in weather conditions; changes in agricultural regulations; unknown risks; the amount and availability under its asset backed securitization program; and the risks described from time to time in the Company's SEC reports.

AgriFlex Credit is a registered trademark and Powerfarm.com and Powerfarm Credit are trademarks of Ag Services of America, Inc. All other trademarks or product names are the property of their respective owners. For more information visit http://www.agservices.com , http://www.powerfarm.com
SOURCE Powerfarm, Inc.
CO: Ag Services of America Inc.; Powerfarm, Inc.

MicroFinancial Inc. Announces the Closing of the Purchase Agreement with Resource Leasing Corporation

WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 8, 2001--MicroFinancial (NYSE:MFI - news) today announced that its wholly owned subsidiary, Leasecomm Corporation, has closed on the previously announced agreement to acquire a major portion of the assets of Resource Leasing Corporation, Herndon, Virginia. As part of the transaction, Leasecomm acquired a major portfolio of rental and lease contracts, the use of the name Resource Leasing, and most of its current employees, including founder and President Chip Nichols.

MicroFinancial Inc., (NYSE:MFI), headquartered in Waltham, MA, and with additional locations in Woburn, MA, and Newark, CA, is a financial intermediary specializing in leasing and financing for products in the $500 to $10,000 range. The company has been in operation since 1986 and has been profitable each year since 1987. Please visit our Web-Site at http://www.microfinancial.com

Founded in 1985, Resource Leasing Corporation is a leading provider of equipment financing products and related services in the point-of-sale industry. This release contains forward-looking statements. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. Readers should not place undue reliance on forward-looking statements, which reflect the management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. Readers should also carefully review the risk factors described in documents the Company files from time to time with the Securities and Exchange Commission.

CONTACT:

MicroFinancial Inc.
Richard F. Latour
781-890-0177
richard.latour@leasecomm.com

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