August
31, 2000 Directional/Direct
Funding and the NAELB tm
Wyse Financial and Sierra Cities
(
Brian Mrurry of Lease2save.com explains what this means )
McCommon, a Capital
System User Goes Docutouch Digital
( digital signatures on line
)
Kit,
Thanks for elevating my profile. It was good to hear from some of
my old
friends as a result of your newsletter. I'll look forward to seeing
some of the
other people you'll be writing about in the issues to come.
Hal
Hal T. Horowitz
Account Executive
Search West
340
North Westlake Blvd., Suite 200
Westlake Village, CA 91336
Phone: 805-496-6811
ext. 231
Fax: 805-496-9431
Pager: 818-494-6875
hal.horowitz@searchwest.com
www.searchwest.com
"It is
my mission to collaborate with my clients in order to further their
success
by identifying professionals of uncommon ability to whom my clients
might
not otherwise have access and who will make a valuable contribution to my
clients' goals."
( yes---we include all signature information, inlcuding
"advertising" in
e-mail messages, not just Hal's---editor
http://www.leasingnews.org/whateverhappenedto/Halthorowitz.htm
Direct
Funding/Directional Funding Controversy
NAELB tm says, " It ain't so! "
Claims were made from a fax from Directional funding sent on August 13, Sunday,
but dated August 14, regarding the membership and relationship with brokers:
Sunday, August 13, 2000 9:53 PM DIRECTION
FUNDING 559 276-7941 p01
DIRECTIONAL FUNDING
FAX COVER SHEET
To: Brokers Date: 08-1
4-00
Fr: Patti McPike Re±
Letter
After a long yet productive discussion with NAELB Legal Counsel
Joseph Bonanno, Esq. Directional
Funding has learned that to date Directional
Funding has never had a claim filed against them with the office of the NAELB.
Furthermore no company has expressed concerns that Directional Funding failed
to pay any commissions. The letter that was sent out a few months ago was referencing
another company that has concerns with the NAELB. We are a long-standing member
in the leasing industry. Our ethics have never been in question at any time. We
have provided a financial avenue for Brokers/Lessors for over 3 years. Our commitment
to the Broker community is as strong now as it has ever been. We realize this
may come as a surprise to many of you that had the opportunity to read the letter.
If you would like to contact Mr. Bonannu at his office to veñfy this information
he is willing to verify and outline the situation. We do ask that you do not overload
Mr. Bonanno with phone calls you may fax or e-mail him as an alternative. We are
also willing to give any company written documentation, and Broker/Vendor references
to aid in this situation. We are now accepting a small number of new Broken into
our company. If you should require further information please feel free to download
our newest Broker Package from our #1 rated lease site. To download the package
enter the site click the link (Broker Area) and
follow the page directions.
We have a few new programs to offer such as Private Label
Documentation, Net
Funding, Direct Deposit Commission Checks, 1% Bonus Program, & Lower
Rates.
Thank You
DIRECTIONAL FUNDING JOSEPH
BONANNO, ESQ.
5984 W. CIIENNAULT AVE FRESNO,
CA. 93722 (181) 391-1800 (781) 391-7889-Fax
(559) 275-6558 (559) 276-7941-Fax
E-mail attyjgb~aoLeom
Today by fax from the National Association of Equipment
Lease Brokers:
68/38/08 12:67 ToChristrqter
''Kit""Mettin Page I
TO: All NAELB MEMBERS
FROM: NAELB tm
DATE: AUGUST
30, 2000
Many of You may have received a communicatin from Direct Funding
dated August l4th, 2000, in
which our legal counsel, Joseph Bonano and the
NAELB appeared to have joined in a fax.
The position of the NAELB is
that Directional/Direct Funding is not a
member of the NAELB tm and they were
not authorized to use the name of our
legal counsel orthe NAELB tm in any
manner whatsoever in that fax.
DocuTouch
Digitally Signs Contract to Lease Office Equipment for New Facility
SEATTLE--(BUSINESS
WIRE)--Aug. 31, 2000--Seattle-based DocuTouch today announced it signed a corporate
lease agreement with Bothell-based ABCO Leasing, Inc. (ABCO) and Bellevue-based
McCommon Leasing Company using its patent-pending online document collaboration
and digital signature technolog y, cutting the time, costs and paperwork involved
in a leasing transaction by more than 50%.
The leasing agreement consisted
of a dozen pages of legal paperwork and took only a fraction of the time to execute
when compared to a traditional leasing process. A typical leasing contract requires:
-- Face-to-face visits
-- Six-to-twenty phone calls
--
Four-to-eight salaried hours
-- Upwards of fourteen days to complete.
With the new technology, DocuTouch digitally
signed the legally binding contract in just 15 minutes! All of the documents such
as corporate leasing resolution, equipment lease, security deposit agreement,
insurance verification, purchase order, required purchase agreement, property
acceptance certificate and invoicing paperwork, were uploaded to the DocuTouch
repository for permanent archival. The final documents were digitally signed and
delivered via UPS secure print and delivery system the following day and without
additional overnight charges. DocuTouch recently expanded its office to a 10,000
square foot facility in downtown Seattle, and ABCO supplied DocuTouch with modular
office furniture systems for the new office space.
"DocuTouch's document management solution is a straight-through process," said
ABCO Vice President Don Shipley. "This technology makes it even easier for parties
to manage, administer and sign corporate leasing documents. This is the first
of what will be an ongoing mode of operation for our c ompany. We strongly believe
that using online document management and digital signature technology will give
companies like ours a competitive edge."
"DocuTouch
provides a valuable service to the Leasing Industry that I anticipate lessors
will quickly adopt to enhance the efficiencies of corporate leasing, saving time
and money in the process," stated McCommon Leasing Company CEO Jim McCommon. "We
believe we can double our documentation wor kload without adding personnel."
"Many organizations are exploring how they can offer digital
signature capabilities to their customers before October 1st when the E-SIGN Act
becomes effective, making digital signatures as legally binding as documents signed
with ink," said DocuTouch CEO and founder Mir Hajmiragha. "We are ex cited that
industry leaders, like ABCO Leasing, Inc. and McCommon Leasing Company, are eager
to adopt this new technology, giving their clients total control of the legally
binding document contracts generated during the office furniture and equipment
leasing process."
About ABCO Leasing, Inc.
Founded in 1974, ABCO Leasing, Inc. is a full service equipment
leasing company that serves corporations in 13 western states and Alaska. ABCO's
primary focus is to serve as a funding source for other leasing companies on those
transactions that range in size from $100,000 to $350,000 in size and are more
complex or technical than they choose to purchase for their own portfolio. ABCO
works for all industries and all equipment types, provides both leasing and contracts.
McCommon Leasing Company
McCommon
Leasing Company, a 20 year old independent national lessor with offices in Bellevue,
Wash., specializes in technology, heavy equipment and day care facility finance.
About DocuTouch (www.docutouch.com)
DocuTouch is a Seattle-based, privately held ASP (Application
Service Provider) that offers corporations technology needed to manage and digitally
sign legally binding documents. The company recently released a patent-pending
Microsoft Word 2000 Add-In that will allow users to digitally sign d ocuments
at the paragraph level. The company's application features a patent-pending process
for authenticating anonymous users on the Internet. DocuTouch ensures document
security utilizing a proprietary RSA Security Inc. Bsafe(R)-enabled encryption
scheme. The company presently represents over 1,000 users in real estate, financial
services, insurance, leasing, legal, professional services and enterprise verticals.
The company's strategic partners include DataChannel, JurisdictionUSA, LoanStreet.com,
Microsoft, NowDocs, Palm.Net, Ricoh, UPS and Webforia. Earlier this year, PC Magazine
rated the DocuTouch application "as solid as Fort Knox." The company recently
closed a multi-million dollar round of investment funding led by Timberline (the
Northwest affiliate of Draper Fisher Jurvetson), joined by Irwin Ventures (an
affiliate of Irwin Financial Corporation), and Mitsui Co., Ltd. (a leading world
trading and investment company in Japan).
DocuTouch(TM)
and DocuSign(TM) are trademarks of Astus Corporation, all other trademarks are
the property of their respective owners.
CONTACT:
DocuTouch
Nadra Angerman, 206/786-9578
nangerman@DocuTouch.com
or
McCommon Leasing Company
Jim McCommon, 800/344-4545
jim@2lease.com.
Stock is 3 1/16 at this time
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BTOB&script=200
SierraCities.com
and Wyse Technology Partner to Form WyseCapital
SierraCities.com and
Wyse Technology, a leader in the thin-client marketplace, announced the immediate
availability of WyseCapital(TM), a new leasing program for customers of Application
Service Providers (ASPs). The new program enables ASPs to develop thin-client
based services without carrying an inventory of thin-client hardware, minimizing
up-front capital costs. The new program also allows ASPs to finance the entire
amount of the service contract with their customers, providing them with the working
capital they need to run their business and removing them from the administrative
burden of billing and collecting the contracts. The program, available over the
Internet, provides quick response times for credit decisions (as little as 2 minutes
or less) and documents that are sent over the Internet upon approval.
Wyse has already signed up several leading ASPs, such as FutureLink,
E-Center.net, Vector Technology and Choice Solutions.To participate,
Authorized Winterm Partners must sign up with Wyse as an ASP. For
those organizations that are not already an Authorized Winterm Partner,
an authorization application is available at
www.wyse.com/partners.
"Since 1996, Wyse has been committed to developing products and determining the
specific needs for the ASP market," said Jeff McNaught, vice president of customer
marketing for Wyse Technology. "The true benefit of the ASP model is that there
is no cash outlay for software, but rather a business rents or leases those applications
that it needs. Wyse is bringing this same benefit to the desktop, meaning that
ASPs can help their customers manage costs even further through the leasing of
reliable thin-client desktops".
Using thin clients with ASPs provides critical
benefits for businesses.Users get ease of use, performance and reliability, and
ASPs can successfully deliver on service level agreements, because they are freed
from the uncertainty of delivering service to more complex devices, like PCs.
ASPs must be capable of delivering application "dial-tone" to the desktop, and
thin clients have been proven to be more reliable than personal computers. Thin
clients enable ASPs to focus on their core competencies of delivering applications
instead of managing and troubleshooting client devices that can be scattered in
disparate locations.
"The hardware leasing model is consistent with the ASP
philosophy of providing predictable costs," said Michael Krieger, senior vice
president of marketing for FutureLink. "FutureLink's 'software as a service' objective,
combined with Wyse's hardware leasing option creates a high value solution that
is sure to grow the ASP market."
This new leasing program will also be a key
component to Wyse's Thinovation initiative. Wyse's Thinovation initiative changes
the thin-client landscape through the delivery of a suite of Personal Thin Clients,
marrying Wyse's vision of helping people communicate and access information affordably
with the convergence of the key benefits of thin clients and PCs. Founded in 1981,
Wyse Technology is the manufacturer of the award-winning line of Winterm Windows-based
Terminals and is the world leader in terminals and thin-client computing. With
an installed base of more than eight million terminals and thin-client devices,
Wyse products are available through leading distributors, systems integrators
and Authorized Winterm Partners and are marketed under well-known original equipment
manufacturers' (OEM) labels worldwide. With headquarters in San Jose, California
and Hsin Chu, Taiwan, Wyse has offices across the U.S., Europe and Asia.
Brian Murray
of lease2save explains what ASP is----
We offer a Vendor Finance System,
just like SierraCities is offering Wyse
Technology, that empowers equipment
or software vendors to offer their
customers access to lease financing directly
from their website or intranet.
Our Vendor Finance System works off of an
ASP (Active Server Pages)
platform, which means that when the user selects
lease financing form a
vendors website, the user will be sent to our server,
but will enter an area
that has been customized for the vendor. Our Vendor
Finance System allows
us to place custom logo's and mapping rules that specifically
apply to the
vendor, therefore, the customer doesn't get the sense that they
have left
the vendors site and has immediate access to our leasing applications
that
have been customized for the vendors products.
The major advantage
of an ASP platform is it can be easily scaled to
accommodate a very large
number of vendors with very low implementation
costs. Plus, as we continue
to improve our applications, every vendor will
immediately receive the updates
and will never have to pay for them. This
compares to a software program that
must be installed on each users hard
drive and updated often.
Wyse
Technology is a developer of thin-client ASP applications for a number
of
services. Their agreement with SierraCities allows them to lease the
thin-client
hardware necessary for users to take advantage of their ASP
applications (ie.
computer leases). Lease2save.com could have also created
WyseCapital for Wyse
Technology just as SierraCites did. As I mentioned to
you yesterday, we closed
a similar deal with Philips yesterday. Philips
liked our ability to access
multiple lending sources from one location.
Plus, their sales reps like our
user-friendly modules.
You probably already knew this stuff, but just
in case, I hope my
explanation makes sense. ASP applications are the future
of software.
Sincerely,
Brian Murray
Lease2save.com, Inc.
(310) 827-7879
brianm@lease2save.com
August 31, 1907 William Saroyan Birthday
If you would like to join our leasing news network, all you
need to do is
ask. We are also ON LINE: www.leasingnews.org
We do
not add anyone to our mail group unless they request it- Name: Kit Menkin
E-mail: Kit Menkin kitmenkin@leasingnews.org
Date: 08/31/00
Time: 12:20:12
www.leasingnews.org
346 Mathew
Street
Santa Clara, Ca. 95050
Voice: 408-727-7477
E-Fax: (781)459-4789
to regularly
receive Leasing News kitmenkin@leasingnews.org
Baseball
Owners Found Guilty this day in 1988 as collusion against free agents
was the finding
of an arbitrator against the owners of the major league baseball
clubs. These owners, the
ruling said, violated baseball's collective bargaining agreement
in relation to 79 players who
became free agents at the end of the 1986 season. Almost none of
the clubs attempted to sign
such players from other clubs. It was a "freeze out." A week later
the owners put in a new
baseball commissioner and the argument continued over "monetary
damages" the owners lost again
in 1987, when the same ruling was made for free agents from the
prior year, 1985.
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