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August 07, 2000
This week is National Fraud Awareness Week. To learn more about this, take a test, or read about the "Perpetrators Hall of Shame" check out the site below. http://www.fraudweek.com Rob
Yohe Rick Wilbur--Alive and Well in Arizona About two weeks ago I was contacted by a gentleman who apparently learned of Media Capital through the Internet. I went to his web site and had several telephone conversations with him. He said that among his various other activities he was a vendor selling Giant Pole Tents, Clear Span Structures and Air Domes. His clientele appears to be religious organizations, other non-profit organizations and commercial businesses. I won't burden you with the details but the bottom line was that he wanted to refer leasing opportunities to us, have us prefund his suppliers and his profit then wait somewhere between three to six months for final delivery. He was way too slick and as soon as I told him he'd have top wait for final equipment delivery for his profit, he said 'see ya' and hung up the phone. It was pretty clear to me that he was speaking to a number of brokers and probably lessors. I don't know if the guy is legit or not but he sure got my radar up.. If anybody is interested in his name or the name of his company they can contact me directly.
Rick Wilbur "Post" Brings New Members to the new NAELB The new "Post" announcement server by www.naelb.org is already helping two brokers with commissions owed by either superbrokers or funders. This is this a private network, we really can only report its success and not the specifics. The National Association of Equipment Leasing Brokers has already had results in new members signing for this information, service, and basic protection. These two brokers will hopefully shortly attest to the $295 well spent. Application is available on line at: http://www.naelb.org/naelbsecure/membership/memberapp.html UniCapital Elects Tal Briddell Chairman of the Board MIAMI--(BUSINESS WIRE)--Aug. 7, 2000--UniCapital Corporation (NYSE:UCP) today announced its board of directors has elected Tal Briddell chairman. Briddell, 58, UniCapital's CEO, succeeds Robert New, who recently resigned from UniCapital's board of directors. In addition, UniCapital said it has reached an agreement with Bank of America, N.A., its principal financial creditor, to continue the waiver of certain terms of the company's credit facilities through Aug. 31, 2000. UniCapital Corporation provides asset-based financing in strategically diverse sectors of the commercial equipment leasing industry. Headquartered in Miami, UniCapital originates, acquires, sells and services equipment leases and arranges structured financing in the big ticket, middle market, small ticket and computer and telecommunications segments of the commercial equipment leasing industry. For more information, visit UniCapital's Web site at www.unicapitalcorp.com. Certain statements contained in this press release may be deemed to be forward-looking statements that involve risks and uncertainties. These statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and should be read in conjunction with the risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 1999, as filed with the Securities and Exchange Commission. Those risk factors include, among others, limitations imposed by the Company's credit facilities, risks related to the need for additional capital, risks related to the Company's acquisition strategy, risks arising from the absence of combined operating history for the Company and its subsidiaries, risks related to internal growth and operating strategies, interest rate risks, risks related to fluctuations in quarterly operating results, risks related to consummating securitization transactions and other risks. These risks and other factors could cause actual results to differ materially from those expressed or implied in any forward-looking statements contained in this press release. In addition, results may vary as a result of factors set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statements to reflect actual results or changes in the factors affecting such forward-looking statements. --30--pp/mi* CONTACT: UniCapital Corporation, Miami Investors Contact: Jody Campbell, 305/899-5002 jcampbell@unicapitalcorp.com ( This company is funding deals, many good reports, alive and healthy, don't believe the rumors---editor ). BOSTON--(BUSINESS WIRE)--Aug. 7, 2000--LeaseForum, Inc., the only online commercial equipment leasing marketplace providing lessees an integrated suite of Web-based solutions for managing the leasing lifecycle, today announced the appointment of Dean R. Hildreth as vice president of corporate sales. Mr. Hildreth will service the leasing needs of large- to mid-size companies throughout the Northeast region. Mr. Hildreth, former district manager for KeyCorp Leasing, has more than 12 years of experience in equipment leasing and asset-based lending to diversified industry groups. At KeyCorp, he established and serviced clients in the Northeast providing tax and non-tax lease financing. Prior to KeyCorp, Mr. Hildreth was a senior account executive at GE Capital where he focused on middle-market and large-ticket equipment transactions, including traditional leases, term loans and off-balance sheet structures. Mr. Hildreth received his B.A. degree from Assumption College, in Worcester, Mass. "The Northeast region not only represents our home territory, but is also an area with a high concentration of current and prospective LeaseForum member companies," said Susan S. Franklin, president and CEO of LeaseForum. "Having Mr. Hildreth on board in the Northeast strengthens LeaseForum's commitment to providing unparalleled lease financing and asset management services." About LeaseForum LeaseForum is the only online commercial equipment-leasing marketplace providing an integrated suite of web-based solutions for managing the leasing lifecycle. LeaseForum enables lessees and lessors to originate leases, manage them across the enterprise and remarket off-lease or surplus equipment. Headquartered in Boston's financial district, LeaseForum investors include Shawmut Capital Partners (www.shawmutcapital.com). For additional information, visit www.leaseforum.com or www.remarketxchange.com. CONTACT: LeaseForum, Inc. Susan S. Franklin (617) 443-9910 ssf@leaseforum.com or Donovan Group Philip O'Brien (508) 393-1433 pobrien@donovangroup.com LifePoint Receives $3 Million Capital Lease Line From FINOVA Capital Corporation ONTARIO, Calif., -- LifePoint, Inc. (AMEX:LFP), a developer of rapid, non-invasive testing products that use saliva instead of blood, announced today that it has received a $3 million capital equipment lease line from FINOVA Capital Corporation. (Photo: http://www.newscom.com/cgi-bin/prnh/19990708/LFPTLOGO ) "LifePoint is pleased to be able to announce our qualification for $3 million in capital equipment financing from a premier financial institution like FINOVA Capital Corporation," said Linda H. Masterson, LifePoint's CEO, Chairman of the Board and President. "This lease line will help LifePoint to conserve cash, reduce the need for any additional financing and enhance our capital structure, even while we build-out our new manufacturing facility, including the scale-up of the manufacturing processes." "LifePoint is the kind of entrepreneurial, growth-oriented company upon which FINOVA has built its commercial lending franchise," said Erik Ostebo, Vice President of Marketing for FINOVA Capital Corporation's Technology Finance division. "We are excited about LifePoint's large and diverse market opportunities as it commercializes its unique product. We look forward to providing LifePoint with the financial services required by a rapidly expanding business and to being an ongoing contributor to the company's long-term success." The FINOVA Group Inc. (NYSE:FNV), through its principal operating subsidiary, FINOVA Capital Corporation, is one of the largest and most successful financial services companies in the United States primarily focused on providing a broad range of capital solutions to midsize business. Headquartered in Scottsdale, Arizona, with business development offices throughout the United States and in London and Toronto, FINOVA offers a variety of financing accommodations through 18 business units, each with specific industry or product expertise. For more information about FINOVA, visit www.finova.com. LifePoint, Inc. is a late development stage company designing a unique product that will provide immediate, on-site diagnostic results without the need to take blood or urine. LifePoint is focused on the commercialization of the flow immunosensor technology licensed from the Naval Research Laboratories. This patented technology, when used in conjunction with LifePoint's own patented and proprietary technologies on using saliva as a non-invasive test specimen, will allow LifePoint to develop a broadly applicable non-invasive, rapid, on-site diagnostic test system. The LifePoint(TM) test system could be used for rapid diagnostic testing, for screening, and therapeutic drug monitoring in non-medical environments such as the workplace, home health care, ambulances, pharmacies, and law enforcement. The first product under development is for the simultaneous detection of drugs of abuse and alcohol. The market potential for this product is estimated to be $750 million and growing to over $1 billion by 2002. Marketing to the non-medical markets is anticipated to begin early in the first quarter 2001. For more information on LifePoint, Inc. visit www.lifepointinc.com or call (909) 466-8047 x 400. This press release contains forward-looking statements regarding future events and the future performance of LifePoint, Inc. that involve risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, the completion of product development, the need for additional funding, the initiation and completion of clinical trials and dependence on third parties for clinical testing and marketing. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission. ABB LAUNCHES EQUIPMENT FINANCE GROUP Boston, Mass, -- ABB has launched a new equipment finance group in the United States. Thomas Herlihy, a 20 year equipment leasing industry veteran, heads the new organization as executive vice president. Tom has served in a leadership role directing sales, marketing and operations initiatives for CIT, Newcourt, AT&T Capital and Eaton Financial. His responsibilities will include strategic direction, management and financial performance for the Equipment Finance Group. Arun Nayar, president of ABB Structured Finance (Americas) Inc. said, "Tom joins us with a wealth of industry knowledge, having held several relevant positions that have enabled him to prove his success in the equipment finance business. I am confident he will provide the vision and leadership to expand our presence in the U.S. equipment market." Joining the management team is James Messina, senior vice president of sales and marketing. James offers 20 years of leasing experience and most recently served as a vice president for CIT's Vendor Technology Finance Group. Patrick Grady, vice president and chief legal counsel, previously provided legal support to AT&T Capital and its successors. Richard Cordella, vice president of risk management and operations, offers 30 years of industry experience, including management positions with AT&T Capital, Textron Financial and Chase Manhattan. Michael Harrison, vice president of information technology, has led numerous e-Commerce and information technology initiatives within the leasing industry. Dan Meleney, vice president of finance, was responsible for pricing and asset management at AT&T Capital and Divisional Controller for McDonnell Douglas Finance Corporation's equipment leasing group. Collectively, the management team offers over 100 years of industry experience and knowledge . "The new equipment finance group is part of ABB's business strategy to expand towards a service-oriented company as well as broaden our financial services offerings in the U.S. market," said Arun Nayar. The group will focus on small and medium-sized businesses through vendor relationships in the technology, telecommunications, healthcare, office equipment, graphic arts and industrial markets. Arun Nayar said, "the new equipment finance group is well positioned to be successful with a highly capable management team, strong financial parent and enormous market opportunity." The equipment finance group will provide web-enabled tools to originate equipment leases online, including credit adjudication and lease documentation. "The goal is to create an efficient, full-service financial service business centered on ease of doing business," said Tom Herlihy. "Based on my experience, the only way to build lasting partnerships in this industry is to consistently exceed your customer's expectations. That's the cornerstone of our mission -- to deliver a more elevated level of service and support than what the industry is currently experiencing." With the core management team onboard and facilities secured in the western suburbs of Boston, the equipment finance group is scheduled to be in full operation by the end of this year. About ABB The ABB Group serves customers in power transmission and distribution; automation; oil, gas, and petrochemicals; building technologies; and in financial services. With novel IT applications, tailored software solutions, growing eBusiness and a fast-expanding knowledge and service base, ABB is building links to the new economy. The ABB Group employs about 165,000 people in more than 100 countries. ABB Financial Services has more than $20 billion in managed assets and over 900 employees operating in 20 countries. Operations include treasury and insurance services, leasing and financing, structured finance, energy ventures and financial consulting. For more information, contact Mark Sweeney, Vice President of Marketing, at (617) 574-1233 or email mark.sweeney@us.abb.com 34 Leasing Companies Major Changes American
Business Leasing ( gone ) *** As you should be aware, USA Capital has filed bankruptcy and is essentially out of business. The case was originally filed as a Chapter 11 (reorganization) on September 21st and the case was converted to a Chapter 7 (liquidation) on May 18th. If any of you have claims for advance deposits, residuals, etc. the bankruptcy case is in the US Bankruptcy Court for the District of Colorado, Chapter 7 case number 00-14495 SEB. I have been told that there are a few scattered bankruptcy cases out there that hold that the trustee had to return the advance fees to the Lessees and could not consider those fees part of the bankruptcy estate, but that the issue has not been raised with much frequency. If you know of anyone that is caught in the middle of the advances and the bankruptcy filing, then advise them to obtain Denver counsel ASAP to file a proof of claim. Joe
Bonanno, NAELB Legal Counsel any
corrections or additions, please let me know. www.leasingnews.org
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