|
August 29, 2001 Kit Menkin’s Leasing News www.leasingnews.org Wednesday, August 29,2001 --------------------------------------------------------------------------------------------- You can receive this daily for free by contacting, delivered by e-mail to your door. And you will get A Day in American History in the signature. ----------------------------------------------------------------------------------------- Headlines---- AmX Bomb Went Off—--Ka-Boom If You Were Not There , You Would Not Have Heard It--but we did Saddleback Says Richard Shaprio Speaks for Himself Only Fisher-Anderson Ex-Employees Start Mark III Credit Deadline Approaches for San Antonio, TX Conference Early Bird Discount Donald P. Campbell Named to eMarket Capital Board of Directors AmSouth Launches Web Site for Small Businesses ### denotes press release _______________________________________________________________ Exclusive--- Fred St. Laurent Pictures eLessors Technology Conference, Atlanta, GA
The Financial Resource Conference August 28-30, 2001 Ritz-Carlton, Buckhead Atlanta, GA
"Photos at the bottom of this page" ______________________________________________________________ American Express Business Finance Group We will have a story on this soon. The bomb will be $10 -$12 million, and may go up to a $20 million hit. It reads better than PinnFund. Double-dipping, no guarantees, double funding, parties, sex, and all the stuff your mother told you not to do. Whether American Express knows what to do, public ally or privately, we will find out. Sometimes these things never hit the public as did Metorlease, but Textron, Jim Merrilees, and others, such as Bob Baker who has a suit against Metrolease, they know the real story there, as does many in the industry. It was only $3 million. This is big time. We hope to break the story soon as we are given the go ahead. We have an exclusive!!! Insider News, too. editor __________________________________________________________________ Shapiro Wrote E-Mail, Not Saddleback about Preferred Lease, A Capital Werks Company Saddleback
Prez Emard says, “We are also not aware of
any information that would
reflect poorly on the management of these companies who are experienced individuals
that have been very successful in our industry.” Here is a full copy of his official letter received by us, that he specifically asked us to print: “We have just became aware of an article in Leasing News written by Richard Shapirowho is a sales Representative for Saddleback Financial Corporation. Management hadno prior knowledge of this article which was written by Richard as an individual andshould have been penned as such. “Saddleback
Financial has no direct knowledge of Preferred lease or Capital Werks and the
way they conduct their operations. We
are also not aware of any information that would
reflect poorly on the management of these companies who are experienced individuals
that have been very successful in our industry. “Saddleback
apologizes to Preferred and Capital Werks for the content in Richard’s article and the erroneous perception that Richard had
written that article as a representative of Saddleback Financial Corporation.” Warren
Emard President wemard@saddlebackfinancial.com ( Leasing News has spoke to Mr. Shapiro and verified he would prefer we print this letter from Warren Emard. We have left three messages for Jim Raeder of Capital Werks, who has returned our call twice, and also sent us an e-mail he has asked us to hold. We are late with the news today hoping to have his e-mail printed here. In addition, Louis Schneider has promised an interview tomorrow, Thursday. We are looking forward to their comments, especially since we have heard from so many ex-employees, who miss the old days, made a lot of money, and all had nothing but good words to say about Louis Schenider. I hope he gives us permission to print his e-mail. This will be the first public time we have heard from him about his company. editor ) --------------------------------------------------------------------------------------------- Mark III Credit Don Shadel, former Commercial Vehicle Division Manager of Fisher Anderson L C, and several CVD staff members, have started a new company named Mark III Credit Corp. The focus will continue to be new and used work oriented vehicles in the small ticket range from $15,000 to $150,000. Our prior company, Atlas Funding Group, Inc. was acquired by Fisher Anderson L C in September of 1998 to market a national titled vehicle program for brokers and lessors. Our affiliation with Fisher Anderson L C the last three years has been a pleasant experience, however recent changes in the transportation industry dictated that we both move in different directions." The new office location is: 1 Smallwood Court Columbia, S C 29223 Phone & Fax numbers remain the same. 877 865 0475 Ph 877 865 0476 Fax email dshadel@markiiicredit.com _________________________________________________________________ San Antonio, Texas United Association of Equipment Leasing Conference Leasing News made their hotel reservation and sent in our check today, because Friday is the deadline=== ------ For those of you who have not yet registered for ACE 2001 in San Antonio, now is the time to do it! Early Bird registration ends on Friday, August 31st! Save money, sign up NOW!! Beginning September 1 the registration cost goes up. And don't forget to book your airline reservations early as well. The earlier you book, the more you save. For full details on this year's UAEL Annual Conference & Exposition please visit www.uael.org or call us directly at (510) 444-9235. See you in San Antonio! Joanie Dalton - Managing Director UAEL - United Association of Equipment Leasing 520 Third Street, #201 Oakland, CA 94607 (510) 444-9235 x27 (510) 444-1346 fax joanie@uael.org #### ###################### ################### ############# Vancouver, B.C., Canada – August 29,
2001- Electronic Financial Group Ltd.
(EFG) announced today that it has acquired 100% ownership of Metro LeaseLine Ltd.,
(“LeaseLine”) one of Canada’s leading independent lease origination
companies. The operations of the two companies will be combined by way of amalgamation
effective August 31, 2001. “We
are delighted to have acquired this vibrant, fast-growing company whose management
and personnel will be fully integrated into the EFG operations. Equipped with our leading edge point-of-sale
financing technology, LeaseLine’s existing marketing and call centre staff
will now be able to provide unparalleled service to the equipment vendor and dealer
community throughout Canada and North America,” said Hugh Swandel, President
of EFG. David
Nickel, founder of LeaseLine has joined the senior management team of EFG, as
Vice-President, Operations. "The combination
of EFG's management team and technology with LeaseLine's funding and dealer relationships,
represents exactly what the market has been demanding for years...
an end to end solution for dealers and significant originations for funders. There are exponential benefits to bringing our groups together”
said Mr. Nickel. About Electronic Financial GroupAt
EFG, our prime focus is to provide the North American market place with a unique
service to enhance sales by providing instant credit and financing solutions.
Applications are processed and immediate credit decisions granted.
Upon approval, documentation and funding is also completely automated. EFG provides comprehensive service, support
and training to address customer issues quickly and efficiently during regular
business hours. EFG is a privately held
company with a recent investment from Working Opportunity Fund, Access Fund and
BDC Venture Capital. (www.efgroup.ca) About Metro LeaseLineLeaseLine
was founded in 1993 with a focus on servicing small ticket, point of sale, retail
driven transactions. In the first five
years, the company pioneered remote fax documentation facilitating seamless service
to remote locations. It built a proprietary work-flow system enabling it to process
high volumes of business. Combining these developments with a best in class, seven day a week
call center enabled this once small brokerage to grow into a nationally recognized
leader in its field. Contact: Hugh Swandel, President & COO Electronic Financial Group (604) 609-5377 ext 135 ### ####################### ######################### Donald P. Campbell Named to eMarket Capital Board of Directors Commerce Bank Leasing Division President Offers over 30 Years Leasing Business Experience (King of Prussia, PA – eMarket Capital President and CEO Jonathan Moran announced today that Donald P. Campbell, President of Commerce Bank’s Leasing Division, has been named to the eMarket Capital Board of Directors, effective immediately. Moran said, "Don brings over 30 years experience creating, managing and dramatically increasing sales for leasing businesses in the Philadelphia area. eMarket Capital welcomes him as a trusted advisor." Currently, Campbell is President of Commerce Bank’s Leasing Division, which under his leadership has expanded to service a wide range of commercial customers who lease equipment – from printing and production machinery to vehicles to office and restaurant equipment. Prior to joining Commerce Bank, Campbell was CEO of De Lage Landen/Tokai Financial Services, growing sales from $180 million to $1.5 billion and founding three new businesses. He has also served as President of First Fidelity’s Leasing Group and held executive positions with ITT Industrial Credit Company and GE Capital. Campbell is an Executive Committee member of the Equipment Leasing Association; Director of the Equipment Leasing Association Foundation; and Director of the Leukemia & Lymphoma Society, for which he was the top fundraiser in 1999. He earned a B.S. in Business from LaSalle University, served in the U.S. Marine Corps and recently completed the Dublin City, Ireland marathon. He lives in Lower Gywnedd. How eMarket Capital Works eMarket Capital provides private-label leasing services that help manufacturers like Grove close more deals by making competitive lease financing available to their customers. eMarket Capital establishes a customized leasing Web site for each participating manufacturer. Each Web site is operated under the manufacturer's brand name and includes a limited number of lenders who are experienced in equipment financing and who collectively can cater to a broad range of credit risks and types. Customers fill out a single on-line application, and through eMarket Capital's patent-pending Web-based process, receive multiple offers within two business days. Offers are submitted to the customer in a format that simplifies the process of making an "apples-to-apples" comparison. Lenders pay a below-market origination fee only when they complete a deal through one of the Web sites. The service targets capital equipment purchases from $5,000 to $1 million. Transactions in this range represent over 50 percent of the overall market, which analysts expect to grow 5 to 8 percent a year. For more information, visit eMarket Capital’s Web site at ----------------------------------------------------------------------------------------- 2001 Jeep Cherokee Gets 21 Miles per gallon Well, I might as well join the auto survey and contribute to my reputation as an eccentric old fart. My daily commute (50 miles round trip) is in a 2001 Jeep Cherokee, because it gets 21 miles per gallon. In the garage is a 1998 Dodge Durango 5.9 liter V-8 (coal black) that I now use as my "flat land boat dragger". In the driveway is a 2001 Dodge 2500 Ram Quad Cab Turbo Diesel (my son's) which is my "mountain country boat dragger". Also in the garage is a 1942 Wilys Jeep (No you guys, I was NOT the original driver), which is in many, many parts, including an unmounted new Kevlar body. (When you're a credit guy in the leasing industry, you need to be bullet proof). Anyone out there with lots of spare time is invited to take this "project" vehicle off my hands...CHEAP! After living most of my life in Portland surrounded on all sides by water (including from above), then moving to Miami and Seattle (again surrounded by water) and NEVER having a boat., I moved to Denver, hundreds of miles from water. THEN I bought a boat, a 20 ft. 2000 Chaparral Bow Rider ski boat. Fortunately it has wheels, so I can drag it to the nearest pond...in Nebraska, Arizona Missouri or some other water wonderland. However, even with a small block Chevy engine I have trouble getting a skier out of the water. (Oh, what's that you say? The wheels aren't attached to the boat? They come off? OH!, it's a trailer. That explains a lot!) Mark Speros, Director Broker Division Landmark Financial Corporation Denver, CO Mark@lfcinc.com 800-430-9713 ext. 23 __________________________________________________________________ ########## ################## ##################### AmSouth Launches Web Site for Small Businesses; Small Business Resource Center Gives Solutions for Many Small Business Needs
BIRMINGHAM, Ala--AmSouth Bank (NYSE:ASO) has introduced a new service for small business customers that will give them the resources and information they need to help them reach their full potential. The AmSouth Small Business Resource Center is a new service offered in addition to the small business banking products already offered through AmSouth's web site. Small business owners can access the site through Small Business Banking link on AmSouth's home page at www.amsouth.com. The site is dedicated to helping meet the many different needs of small business by providing information and portals to many web sites that specifically target the needs of the small business owners, including: -- Money management tips -- Newsletters containing tips, ideas, and helpful information for small business owners -- A network of service providers who can help small businesses with areas such as taxes, payroll, and domain name registration -- Current news for small businesses and small business owners -- Tax information "Small businesses need to get more done in less time, and as they turn to the web for help, AmSouth is committed to meeting their ever-changing needs," said Brett Couch, head of AmSouth Business Banking. "The Small Business Resource Center gets crucial information to business owners in a very efficient way." "The development of this site is part of AmSouth's initiative to provide banking products, convenience and knowledge to our small business customers over the Internet just as we've provided to our consumer households," said Couch. In a campaign targeted at consumers, AmSouth has signed up more than 245,000 Internet Banking customers in the past seven months, offering free Internet Banking with bill payment for as long as the customer has an account. About AmSouth AmSouth is a regional bank holding company headquartered in Birmingham with $38.4 billion in assets, 600 branch banking offices and more than 1,200 ATMs. AmSouth operates in Tennessee, Alabama, Florida, Mississippi, Louisiana and Georgia. AmSouth is a leader among regional banks in the Southeast in several key business segments, including consumer and commercial banking, small business banking, mortgage lending, equipment leasing, annuity and mutual fund sales, and trust and investment management services. AmSouth also offers a complete line of banking products and services at its web site, www.amsouth.com. CONTACT: AmSouth Bank, Birmingham Rick Swagler, 205/801-0105 Internet address: www.amsouth.com ######### ######################## ###################### Policy Statement---Nothing is sent out that is not "fair." Always unbiased reporting. Fairness always. If it is questionable, we will ask the writer's permission to quote them. We will print information without attribution, but feel as long as we do not name the person who sent it, we can use the information. Any information we think is suspicious, we try to have if substantiated first by at least two reliable people. We will not purposely send out "negative" news. We prefer "positive" news. We have no "axe" to grind or are not paid or seek or accept any remuneration for product or promotion. We do not Spam anyone. To be added to the mailing list, you must request it. We do not send anything about our company or personal e-mail or jokes to the leasing news list. We do not share our mailing list with anyone. We try not to send more than one report a day, if at that, unless an "alert." We follow Internet Netiquette at all times. Our sole purpose is to provide communication to improve our profession. We reserve the right to deny sending the newsletter when requested. We reserve the right to edit or delete an opinion that is not in good taste or is outright derogatory. Leasingnews.org Exclusive--- Fred St. Laurent Pictures eLessors Technology Conference, Atlanta, GA
The Financial Resource Conference August 28-30, 2001 Ritz-Carlton, Buckhead Atlanta, GA
www.leasingnews.org
|
