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August 8, 2001 Headlines--- Viri Going Through the Leasing Industry Capital Avenue/MyReceivables.com Enter the Internet Fray ALTA Group—Top Equipment Finance/Leasing Consultancy Group in US Trade Finance Magazine Ranks CIT Factoring “Tops” NetBank, Inc. Reports 13th Consecutive Profitable Quarter Chesapeake System Solutions Software Gains Two Major Clients PAYNET Launches Online Payment History Database Colwick, Wagner and Karstens Join TCF Leasing Microforum Appoints Schofield as New CEO Fred St. Laurent Has Job Opportunity Available-- Imperial Bank Appoints Mick Myers as Vice President—Redux 114 Changes---The List Chronological changes the last week plus BMW Financial Services Takes Uncertainty Out of Lease-End Car Returns #### denotes company press release Virus Warnings--- We don’t publish these unless they are hitting our industry. This is not a joke. It isn’t a hoax. It is getting more serious as more of us are opening attachments or using html instead of text in e-mail. You may be next. I bet the person who does not read this, will be next. These were forwarded to us by readers or sent directly: My PC is infected with the W32/Sircam virus. The virus is sending e-mail from my machine to everybody in my address book Brian Ciriello Collection Manager Crown Bank Leasing 800-775-3273 My luck as always, a dollar short and a day late. I upgraded my NAV software last evening and not all infected files could be quarantined and I lost a good number of them. Nothing too important, I hope. At least from your explanation, I understand what happened. Steven B. Geller, CLP Leasing Solutions LLC www.leasingsolutionsllc.com 20 Dike Drive, Wesley Hills, NY 10952 sgeller@leasingsolutionsllc.com phone:(845)362-6106 fax: (845) 354-2803 cell phone: (914) 552-0842 Hi Kit, Chris Oder, IS Department at Republic Leasing here... Vicki Hall In our Marketing department forwards me your news letter when it contains virus alerts... Most of the time they are right on the money, but your latest seems a bit confused... First of all yes there is a new strain of code red that is faster and harder to detect, but code red is not now and has never been an e-mail virus... Code Red only affects Windows NT 4.0 Servers and Windows 2000 Servers and Workstations running IIS... It utilizes a flaw in the default install of IIS that can be easily patched by a security update that has been available from Microsoft since June... http://www.microsoft.com/technet/security/bulletin/MS01-033.asp Every administrator of an IIS system should install this patch to prevent infection from Code Red... For more info on Code red and it's variants see: http://www.symantec.com/avcenter/venc/data/codered.v3.html The information about the e-mail message is sort of accurate... First of all, it's not code red, it's the sircam virus... Sircam changes subject lines and has a variable message body, so it will not always appear the way you have mentioned it... It looks for common office document file formats and attaches one of your personal files along with itself to an e-mail, then sends it to addresses in your address book, and in your Internet cache folder... As of July 17, Norton Antivirus does FIND this virus... You are correct in saying that it cannot clean the virus and deletes it instead... This should not be a problem considering you probably had not requested the random file anyway... If your own PC becomes infected by sircam or you wish to open an infected attachment, Norton has a free tool that will remove it without affecting your own files... It is available at: http://www.symantec.com/avcenter/venc/data/w32.sircam.worm@mm.html ( Many users are not as confident as you are in performing this function. Norton is reacting to the new strain, and this new patch will help. editor ) Also, following Doug Delack's advice will protect you from most virus scripts, though it will not necessarily prevent either of the above viruses... Since, Code Red is not an e-mail virus, it can only be prevented by applying the patch above, using antivirus software on your IIS server, and configuring your firewall to not accept traffic on port 80 that was not explicitly requested from the internal network... Sircam is executed by opening the attachment that is sent with the e-mail... The message body itself serves as an excellent form of social engineering by enticing the user to open the attachment... Training users to not open attachments they did not specifically request is the only real way to prevent viruses of this nature if all your additional security fails... For more info on the latest viruses please visit Symantec's Virus Security page: http://www.symantec.com/avcenter/index.html Thanks for your time, and I hope this clears things up... Chris Oder Network/Systems Analyst Republic Leasing Company P: 800.669.0222 x. 8280 F: 877.398.3223 ( Thank you, indeed. Your information about the two reported virus are correct. Your comments are much appreciated, and confirming what Doug Delack’s advice, which is basically sound and correct, too. There are several “strains” of Sircam making the rounds. It appears the person who wrote it has adjusted it. I have reports from readers at my main site, one a computer consultant with a staff of 25, who runs a very sophisticated anti-virus program, he thought, who got hit on his own laptop. He swears he never opened an attachment and this one went through his latest Symantec ( Norton ) and he clicked “delete” and it deleted all his files infected. Just as what happened to Steve Geller. He had no back-up on his laptop, too. I should also note for the record: American Leasing has leases with Symantec, they are our customer, and it is not to our advantage to say their product is not working. Hopefully the new patch Chris Oder mentioned will help, but to most users, it is confusing and not as easy to use as a professional IS person. This is a serious subject and could take up many newsletters. But the best advice is stated by Chris Oder: “Training users to not open attachments they did not specifically request is the only real way to prevent viruses of this nature if all your additional security fails...” (DON’T OPEN ATTACHMENTS ..BLINDLY. If you want to open it, FIRST----QUERY THE SENDER THAT THEY INDEED SENT IT AND THE ATTACHMENT IS VIRUSFREE. Wait for a response.) and “Every administrator of an IIS system should install this patch to prevent infection from Code Red... For more info on Code red and it's variants see: http://www.symantec.com/avcenter/venc/data/codered.v3.html” This is not a joke. Protect your company, no matter if it is a one person operation or hundreds. Don’t open attachments. It is best to send and receive e-mail in text format today. editor ) ### ############### ################### ################### Capital Avenue and MyReceivables.com Announce Alliance Capital Avenue, a company that gives any institution the ability to offer financial products to its business customers through a simple, co-branding arrangement, today announced that it has entered into an alliance with MyReceivables.com, the leading provider of online accounts receivable funding, management and technology services. Under the agreement, MyReceivables.com will be the exclusive provider of accounts receivable funding and management services to the entities partnering with Capital Avenue. MyReceivables.com is now part of Capital Avenue's suite of financial products that non-financial institutions will be able to offer their business customers. By working with some of the nation's premier financial institutions, Capital Avenue provides any entity with business customers, from insurance companies to associations to ISPs, the ability to easily and seamlessly offer lending and leasing products to its customers or members through the Internet. In addition to the accounts receivable solutions provided by MyReceivables.com, other financial products available through Capital Avenue include: business loans; SBA loans; leasing; discount purchasing; and merchant services. MyReceivables.com provides businesses with instant cash for their accounts receivable through its integrated Web-based platform. In addition to providing receivables funding, the company offers invoicing and statement processing, collections and reporting through its easy-to-use Internet interface. MyReceivables.com also provides proprietary online payment and transaction processing technology offering a variety of custom credit purchasing programs for consumer and business-to-business Internet transactions. The company is backed by the CDS Group, a firm with a successful 28-year history. "Capital Avenue is changing the rules in terms of which institutions are able to offer their business customers access to financial products," said Leonard Leff, president and chief executive officer of MyReceivables.com. "We are very pleased to be part of this effort and to provide Capital Avenue's end users with our accounts receivable and management services. Our service fits perfectly with other products offered by Capital Avenue." "We are very pleased to be working with MyReceivables.com," said Thomas Danehey, chief executive officer of Capital Avenue. "We have taken pains to ensure that the companies we put together are the best in their respective fields. In the arena of receivables financing and management services, no one does it as well as MyReceivables.com. Business customers will be very happy with their services." About MyReceivables.com MyReceivables.com, a member of the CDS Group established in 1972, began offering its services online in early 2000. The company is the first and largest provider of a full range of online accounts receivable services. This includes accounts receivable management and funding, technology, virtual credit cards, billing, collections, and database marketing. MyReceivables.com is the Internet's leader for small business accounts receivable funding and management. The CDS Group is a New York-based financial services and technology company. For more information, visit the company's Web site at http://www.MyReceivables.com or call Leonard Leff, president and chief executive officer, at (800) 338-7353. About Capital Avenue Based in New York City and Hartford, Connecticut, Capital Avenue provides non-financial institutions with the ability to offer commercial banking products such as premium financing, business loans, SBA loans, leasing, receivables financing, discount purchasing and merchant services, to an entity's business customers. These financing opportunities are brought together through Capital Avenue's relationships with some of the nation's premier financial institutions: National Cooperative Bank; MyReceivables.com; Sierra Cities; Republic Leasing; and CIT Small Business Lending. More information on Capital Avenue can be found at www.capitalavenue.com or by calling (800) 883-2498. ### ############## #################### PS Completes Acquisition of First International Bancorp August 08, 2001 UPS announced completion of its acquisition of First International Bancorp, a move that fortifies UPS Capital's comprehensive supply chain finance offerings, especially for small and mid-size businesses. First International is a national leader in the use of U.S. government-guaranteed loan programs made available by the Small Business Administration, the U.S. Department of Agriculture and the Export-Import Bank of the United States. The acquisition of First International was structured as a tax-free merger in which First International became a wholly owned subsidiary of UPS. Each share of First International common stock has been converted into the right to receive 0.1320 shares of UPS Class B common stock, of which 0.0173 shares has been placed into escrow pursuant to the terms of the transaction. UPS will issue approximately 1,062,398 shares of Class B common stock and will account for the transaction as a purchase. UPS expects the acquisition to be non-dilutive to earnings per share in 2001 and slightly accretive in 2002. First International common stock will be delisted from the NASDAQ National Market, effective at the close of trading, and First International will take steps to deregister its common stock with the Securities and Exchange Commission #### ############# ALTA Group—Top Equipment Finance/Leasing Consultancy Group in US
LAKE TAHOE, Nevada Four of Top Five Companies in Top 100 Rankings Among the Clients Serviced by the Leading Equipment Finance/Leasing Consultancy in US Twenty-five of the top 100 companies listed in The Monitor 100, the equipment leasing and financing industry's leading annual ranking of top companies, have contracted the consulting services of a single agency in recent years -- including each of the top four and five of the top ten companies. The agency, known as The Alta Group, has long-been known as the top international consultancy for the equipment leasing and financing industry. "We have known all along our efforts have produced positive and profitable results for our client, but this is a huge endorsement for what we have accomplished since we were founded in 1992," said founding principal, John C. Deane. "You can't perform much better than having all four of the largest companies in one specific industry sector on your client list. Our performance in the annual rankings confirms that The Alta Group's principals are the most sought after consultancy in industry." A partial list of companies in the Monitor 100 that The Alta Group has serviced include: General Electric, IBM, John Deere Credit, Boeing Capital, Heller Financial, Farm Credit Leasing, LaSalle National Leasing, Verizon Capital Corp., Key Equipment Finance and Hewlett-Packard Tech Finance. Upon their founding in 1992, industry experts immediately deemed The Alta Group as the top consultancy for the industry worldwide. The company's structure is unique, in that its principals are in offices spread throughout the globe, including: Lake Tahoe (headquarters), San Francisco, New York, Miami and Salt Lake City, among others. Deane founded the company in 1992 along with principals Norman L. Chapman, John H. Giddens and William Montgomery, each of whom previously served in a prominent executive position within the equipment finance/leasing industry prior to establishing the consultancy. The company was founded with only one client, The Boeing Company, who proposed the same question to the consultancy that they have heard from many clients since: "Should we enter the equipment leasing and financing business?" For more information please call Josh Luke at 775/323-2181 or visit www.thealtagroup.com. CONTACT: Bayer Bauserman for The Alta Group Josh Luke, 775/323-2181 ######## ################# ########################### PS Completes Acquisition of First International Bancorp August 08, 2001 UPS announced completion of its acquisition of First International Bancorp, a move that fortifies UPS Capital's comprehensive supply chain finance offerings, especially for small and mid-size businesses. First International is a national leader in the use of U.S. government-guaranteed loan programs made available by the Small Business Administration, the U.S. Department of Agriculture and the Export-Import Bank of the United States. The acquisition of First International was structured as a tax-free merger in which First International became a wholly owned subsidiary of UPS. Each share of First International common stock has been converted into the right to receive 0.1320 shares of UPS Class B common stock, of which 0.0173 shares has been placed into escrow pursuant to the terms of the transaction. UPS will issue approximately 1,062,398 shares of Class B common stock and will account for the transaction as a purchase. UPS expects the acquisition to be non-dilutive to earnings per share in 2001 and slightly accretive in 2002. First International common stock will be delisted from the NASDAQ National Market, effective at the close of trading, and First International will take steps to deregister its common stock with the Securities and Exchange Commission ### ################### ####################### Job Opening Kit, I have a job opening in the NY NJ PA area for a 2 billion dollar bank that is looking for someone from the broker world, who is looking for a true salary (50k) as well as a percentage of profit (30% of the NPV) And a volume over ride....( starting at 1/4 % up to 1 full % after 4MM in volume). Someone who brings relationships, (book of business) and who isn't afraid to cold call. Home office all the expenses and a computer. Great benefits. This is a good sales job for someone... Is this something that you can help me with? Fred St Laurent Senior National Recruiter ELA, UAEL, NAELB Management Recruiters of Melbourne, Inc A division of Management Recruiters International 134 Fifth Ave Suite 208 Indiatlantic FL 32901 321-951-7644 ext 3123 321-951-4235 Fax 321-749-4618 Cell http://www.mrirecruiter.com ( Sorry, Fred, can’t help you at this time. Steve Chriest is still working on the Classified script. I am ready on our end with the lead ins and extras. And would like to start a lease recruiters section, too, but if I run this, others will ask me to do the same, so therefore can’t be of help to you at this time. editor ) --------------------------------------------------------------------------------------------- I'm always interested in happenings at Imperial Bank. But, I didn't see anything written about Mr. Myers. Did I miss it? Stewart ( Sorry, perhaps when I was posting the Leasing News policy I deleted it somehow. It was on the "online version." Leasing News is written in word, then pasted by me in text for sending and html by our webmaster for the online line version. I add the policy statement for the e-mail version. The Story was at the end, and that's how it happened. For those that don't read Leasing News on line, here is the story that Stewart requested. editor ) ########## ################### #################### Imperial Bank Appoints Mick Myers as Vice President
DENVER--Imperial Bank, a Comerica Incorporated company (NYSE:CMA), today announced that Mick Myers has joined the Denver office of its Emerging Growth Division as vice president of its equipment financing practice. Myers' responsibilities will include administering the leasing portfolio, evaluating equipment for collateral coverage and developing strategic alliances with venture-backed technology companies. "Mick brings a wealth of knowledge and experience in the banking, advertising and marketing, and technology fields," said James Ellison, senior vice president and managing director of the Northwest region of Imperial's Emerging Growth Division. "His extensive background in venture leasing and equipment remarketing will ensure strong leadership as we expand our equipment financing activities nationwide." Myers began his career at General Electric Capital/Ellco Leasing Corporation, where he was responsible for negotiating lease options, performing equipment evaluations and remarketing. Prior to joining Imperial Bank, Myers was vice president and general manager at Capital Associates, where he managed the operations of Name Brand Computer Outlet (NBCO), which included a computer refurbishment facility in Denver and several retail stores in the Midwest. Myers is a graduate of the University of Wyoming with a B.S. in journalism. About Imperial Bank Imperial Bank, a Comerica Incorporated company that was founded in 1963, has been a technology banking leader for nearly a decade, and offers a wide range of financial services tailored to corporate customers, entrepreneurs and professionals. The Emerging Growth Division provides credit and financial services and products to young, growing professionally backed technology companies in the computer products, Internet services, telecommunications, life sciences and e-commerce industries. Within the Emerging Growth Division is Venture Capital Services, which is dedicated to providing venture capitalists a full range of banking services. From offices located across the U.S., Imperial's senior level venture banking team serves all major technology centers. Comerica Incorporated is the 17th largest bank holding company in the nation, with $49 billion in assets. Comerica acquired Imperial Bancorp, the former holding company of Imperial Bank, on January 31, 2001. ### ################ ######################## Leasing News The List http://www.leasingnews.org/list.htm
on line in chronological and alphabetical order. Here are the changes from last week added to the list: 114 changes T&W, Washington ( 8/2001) Mike Price, formerly of T&W Leasing, Resigns from Westar Financial (7/2001) T&W Mike Price charged with evading taxes on $3.2 million yacht (10/2000 filed Chapter 11. Creditors meeting on 12-4-00 Seattle. Case # 00-10868 US Bankruptcy Court Western District of Wash. 206-553-7545. Debtor Attorney-Marc Barreca 206-623-7580) Bay View Capital, San Mateo, CA ( 8/2001) Jeff Allard last day, door now closed, says, “ Goodbye,” going to co-produce “Texas Chain Massacre” movie (7/2001) reports a second quarter 2001 net loss of $95.4 million ( 5/2001) Jeff Allard, CLP, COO “... decided to exit the commercial leasing business and other business lines due to the strategic change in the company's direction as determined by the new management team.” Parent company running out of money, a lot of good people let go. Heller Financial Corporation (8/2001)GE o close by September First, according to |