also delivered to your e-mail box daily, for free.  All you need to do is contact

us or send us an e-mail to kitmenkin@americanleasing.org.

__________________________________________________________________

 

 

Headlines---

  

   American Express Business Leasing to Get Education Tomorrow

     New Non-Profit Leasing Association to Launch Soon

         Preferred Lease, a Capital Werks Company

              Dell Offers Easy Paperless Finance Options for Small Businesses

                   eMerge Interactive Gets $30M Credit Line From CIT Group

                       Where Was Jim Merrilees?---On the Golf Course,  Of Course

                                Jeff Cholley Joins National City's Vendor Equipment Finance

 

Person Looking for a Job, Needs Your Help

 

###denotes press release

____________________________________________________________

 

 American Express—Don’t Leave Home.

 

Leasing News believes some readers are being “blocked” by American Express Business Finance Leasing.  They are not receiving our newsletter, but when

sent via another address, they receive e-mail. This leads us to believe American Leasing Express is blocking our e-mail.

 

Anyway,  we know about the big meeting in New Jersey tomorrow. The “:bomb”

was set a long time ago, and it has taken management this long to find out ( or

will they ). Perhaps AmX should have stayed in the credit card business, as it was profitable.

 

P.S. You can’t stop employee’s home e-mail very easily. editor )

 

_______________________________________________________________

 

New Non-Profit Leasing Association to Launch Soon

 

Lessors.com, a leading leasing company portal of information, will launch a

new non-profit association called: eLessors Networking Association.

 

They will be introducing this at their Atlanta, GA Conference later this week:

 

Welcome to eLNA ...

 

Just as the old industry associations have done a great job representing the old equipment leasing industry, the new eLessors Networking Association (eLNA) is positioned to represent a national community of technology and online equipment leasing professionals…the new "eLeasing industry"!

 

 

Scheduled for launch from this Web site in January 2002, eLNA will begin providing benefits and programs designed to help members succeed in today's rapidly-evolving marketplace, including ...

·            Member's News

·            Speaker Bureau

·            Employment Bureau

·            Resume Listings

·           Events & Programs

·            Member's Directory

·            Executive & Company Of The Year Awards

·            Message Center

 

 

The diversity of eLNA membership will provide members with extraordinary benefits as eLNA members would rather network with those they can do business with, rather than just their competitors. eLNA's executive and corporate memberships will include both industry leaders and smaller pre-IPO companies in a variety of business segments, ranging from hardware and software providers, web designers, consultants, ISP's, telcos, financial services and legal firms.

To receive advanced membership information when available, please email your Company Name, Contact Name, Title, Telephone and Email Address to -

 

Membership@eLessors.com

 

 

 ( Dues and descriptions of non-profit leasing associations are at:

     http://www.leasingnews.org/links_section.htm

 

·        Association for Governmental Leasing & Finance

·        Eastern Association of Equipment Leasing

·        Information  Technology Resellers Association (ITRA)

·        Institute of Internal Container Lessors

·        Mid-America Association of Equipment Lessors

·        National Association of Equipment Leasing Brokers

·        United Association of Equipment Leasing

 

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   Ricky Martin is No Tom Jones....

 

I read Leasing News every day, and find your publication a great source for

keeping up with the industry.  The format is great - wouldn't change a

thing.

 

I do, however, need to take exception to a comment you made (surely in jest)

in today's issue.  In an editorial note, you say "( The Tom Jones

Syndrome...you mean they won't know who Tom Jones

is or have not seen him perform??? He makes Ricky Martin look gay. editor

)". 

 

I'm not gay, but have many close friends who are.  Now, I'm sure you meant

no malice, but even relatively innocent remarks like this help to

proliferate a very negative attitude towards the gay community, and adds

fuel the the fire of intolerance.  I do not expect you to comment on this,

just to use better judgment in the future.

 

Please don't reprint my comments.

 

 ( name withheld )

 

 

( I am printing the e-mail without naming the sender, as part of our editorial policy****. )

 

~~~

 

(Off the record)  You mean Ricky Martin ISN'T gay?

 

 ( name with held )

 

( I poke fun at everyone from time to time, gender, sex, race, broker,

salesmen, lessor.  I also did not say readers born after a certain time

period would not get the joke. A reader  made that observation.

 I have seen Ricky Martin in many interviews and he has intimated that he is “gay,” and that basically was the joke.

 

(  Most jokes poke fun at someone. If I had said Tom Jones makes Ricky Martin look Jewish or Black or Polish, it wouldn’t have been funny.  But then, as Milton Berle said, “ If you have to explain the joke, it wasn’t funny.”

 

(  Rick Wilbur has advised me not to give up my day job and stop telling jokes in

Leasing News.  I will take his advice.  I will also take yours and will try to be more “sensitive”. Thank you for your comments. editor )

 

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Preferred Lease, a Capital Werks Company

 

In regards to Capital Werks purchasing Preferred, I heard that they only

purchased Preferred because Capital Werks could not secure lenders like

Irwin Business and others and they felt they will go through the back door

with preferred for those lines.

 

It's companies like Preferred and Capital Werks that have given our Industry

the black eye that it has!

 

I have the guts to say the truth, there are so many un-professional leasing

companies out there hiring "students" so they can teach them methods of

thievery like the ol bait & switch and we're offering 7% interest with our

own banking line , etc. and they don't pay them anything, they write all

F.M.V. leases but the company collects all the residuals because those

employees are no longer there, they got smart and found a "real" job.

 

I keep reading people on your web site talking about cleaning up the

problems that affect our Industry, well one of the biggest problems is that

we have to name companies that are following these practices and start to

police with-in.

 

I love my job, I have worked extremely hard to win the respect and business

from a hand full of vendors and a lot of repeat customers.

 

Republic Group thieves are at it again.

Richard Shapiro

Saddleback Financial Corp

rshapiro@saddlebackfinancial.com

 

 

~~~

 

The web site that you listed in today's newsletter in reference to Preferred

Lease is not the correct web address.  The web site you listed is for the

Ohio-based Preferred Capital, Inc.

 

Please make that correction.  The two companies are not affiliated in any

way.

 

Thank you,

Ken Rabatin

krabatin@preferredcap.com

 

(http://www.preferredusa.com/1-800-995-6666/About/Offices/schneider.cfm )

 

I hope this is the right one, it opens:

 

Louis Schneider

              graduated from the University of Massachusetts and received his

              Bachelor of Science degree in 1983. He immediately went to work

              for the second largest computer manufacturer in the world, Digital   

              Equipment Corp, where he underwent a year-long Sales Development

              Program and sold computer systems to businesses in the financial

              services industry in downtown Chicago for several years. Although

              Louis was an excellent salesman, his entrepreneurial spirit and

              business talent pulled him away from the corporate world. Learning

              from his previous clients, Louis sought employment in the much more

              lucrative and promising financial services industry. Louis worked

              for several small equipment lenders in the New England area where

              he perfected his organizational business skills and his customer

              service skills while financing primarily "yellow iron" during the

              construction boom of the 1980's. Louis used this time to learn about

              the industry and develop his dream for his own private leasing company.

            

Years later, Louis opened his first private company, The National

              Finance Center. In all his financial experience, Louis had never

              seen financing made available directly to the lessee. The traditional

              vendor-based financing was not only expensive for the customer but

              was also inconvenient as it allowed for very little flexibility.

              Louis decided to offer financing directly to the consumer rather

              than going through the equipment vendor and in doing so, he was

              able to provide a valuable product to a once-neglected customer.

              A few years later, Louis' life-long friend, David Murray, who had

              the same ideas about direct financing, had begun a company called

              Direct Capital that operated on those very principles. It seemed

              that Dave and Louis' skills complimented each other and they decided

              to start a new leasing company that would play a major driving force

              in the industry. It was their vision to create a company that would be large            

              enough to ensure proper customer service, lower rates,

              and true simplicity for the lessee.

              That dream was realized for Louis in January of 1997 when he was

              able to join David in Lake Tahoe as a partner in Preferred Capital.

              Louis is now the President where he aims to "build a billion dollar

              leasing company and change the way that America leases equipment."

              We're well on our way.

 

Click here if you received your Preferred Lease card or here if you are pre-approved:

  http://www.preferredusa.com/1-800-995-6666/Access/index.cfm

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Commerce Bank's Leasing Division President (and ELA Board member) has joined  e-equipment financing intermediary eMarket Capital's Board of Directors.


Don Campbell

---------------------------------------------------------------------------------------------

Need Some Help.

 

 I was with a company for almost 20 years and left that company due to the owner using some creative math when it came to commissions due  me.

 

 I left four months ago to a company that promised fast turnaround, great rates, etc, etc.  I left that company on Friday also due to theft  of my database along with unfulfilled promises of great rates, turnaround (which took 20 days).  A number of my national accounts and  customers who I had for almost twenty years were quickly slipping away..some even commented to go back to my old employer as my current one   was awful.

 

 Comments like "I've enjoyed our working relationship for years, but you have made a bad mistake with (my second former  employer).  We will never work with you until you find a better company."

 

 I realize that our industry is full of promises, companies that use their employees to obtain the contacts and relationships, creative math,   etc., but I must believe not everyone is like that.  For the few people who love their work and want to provide good service and fair rates, where do we go?

 

 I realize credit standards have been raised and cost of funds are up some too.  But for say "B" credits (Mom and Pop companies), are cost of  funds really 9.5% or more?  Average size of transactions $250,000?

 

 I appreciate your thoughts.  I am quite in the dark. Any leads will be appreciated,

as I have a lot to offer a company.

 

Best wishes,

 

 ( Hang on, we will have our classified up in September, I am told by our “scriptwriter.”  In the meantime, if any company has a place for this person,

I hope this person will contact you.  Send me an e-mail and we will print

it. editor )

 

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_________________________________________________________________

 After Posting Second Quarter $101 Million Loss, Dell Teams with CIT for:

 

####### ############## ################### ########### ############

 

Dell Offers Easy Paperless Finance Options for Small Businesses; QuickLoan and QuickLease Customers Can Receive $25,000 in Financing For IT Needs

 

 

AUSTIN, Texas--Dell Financial Services L.P. (DFS) today announced two new payment options designed to help Dell's small business customers easily and rapidly obtain the technology they need to manage and grow their businesses.

 

The new financing options, known as QuickLoan(a) and QuickLease(b), are paperless transactions that enable customers to quickly submit all parts of a financing transaction without a signature through Dell's secure Web site.

 

"We expect that Dell customers will find that the Internet speeds the financing process and eliminates the hassles of mailing or faxing paperwork, reducing the time it takes to finance hardware to less than one hour in most cases," said Martha Granger, DFS vice president of Americas Small & Medium Business.

 

With a QuickLoan, small businesses can finance up to $25,000 for technology purchases including servers, desktop and notebook computers. QuickLoan offers interest rates as low as 12.49 percent to qualified small business customers based on the customer's credit standing.

 

DFS' financing programs provide small business customers potential tax benefits(c) and the flexibility to increase their computing capabilities while preserving cash for day-to-day needs. DFS has been an innovator in paperless finance options, first offering a "signatureless" loan to Dell consumer customers in November 2000.

 

Dell currently is the No. 1 provider of computer systems to small businesses in the United States, according to leading industry analyst firms, and backs up its products with a suite of award-winning services to help small business customers install and support their computer systems. Services include two- and four-hour on-site services for mission critical equipment, next business day on-site service(d), extended limited warranties(e) and lifetime tech support. More information about DFS' QuickLease and QuickLoan or Dell's service offers to small businesses can be found at www.dell.com/smallbiz.

 

Dell Financial Services L.P. is a joint venture between CIT and Dell Computer Corporation. The fourth-largest U.S. information technology leasing supplier based on 1999 revenue, DFS has surpassed more than $6 billion in finance transactions since its inception in 1997. The company provides an array of services ranging from simple hardware leases to complex technology finance agreements that may include software, extra support, installation and asset recovery services. Additional information on DFS is available at www.dellfinancialservices.com. Customers can receive a monthly financing price when they shop online at www.dell.com or call 800/BUY-DELL.

 

Dell Computer Corporation (Nasdaq:DELL) is the world's No. 1 computer systems company and is a premier provider of products and services required for customers to build their information-technology and Internet infrastructures. The company's revenue for the past four quarters totaled $32.6 billion. Dell ranks No. 48 on the Fortune 500, No. 122 on the Fortune Global 500 and No. 7 on the Fortune Global "most admired" lists of companies. Dell, through its direct business model, designs, manufactures and customizes products and services to customer requirements, and offers an extensive selection of software and peripherals. Information on Dell and its products can be obtained on the World Wide Web at www.dell.com.

 

(a) QuickLoan is available through the CIT OnLine Bank to small

business customers only purchasing up to an aggregate amount of

25,000. Not available for business customers requiring a personal

guaranty. Subject to credit approval and availability.