CORRECTION: UAEL Dues Increase

“Your article on the 2003 United Association of Equipment Leasing dues was in error about the increase in service member dues. You said, "...service from $600 to $795, and larger service providers from $600 to $1,495." Actually, the dues for larger

service providers were increased from $1,200 to $1,495.

“Also, please note that some of the categories have changed. While some

Broker/Lessors will be paying higher dues, some will see a reduction. Three

categories (from $0 to $12 million) with dues from $445 to $800 were

compressed into one category (from $0 to $10 million) with dues of $595.

“While there was an increase, it is not dramatic. UAEL membership, bringing

together excellent education programs, highly experienced member companies

and involved networking continues to be an excellent investment for both

established and young companies alike.”

Bob Teichman, CLP

Teichman Financial Training

3030 Bridgeway, Suite 213

Sausalito, CA 94965

Tel: 415-331-6445

Fax: 415-331-6451

e-mail: BoTei@aol.com

"Providing education and training to the equipment leasing and financing

industry."

(The dues for larger service providers came from the UAEL office and

was posted on line. It was reviewed by the former executive director Joanie Dalton

and has been on line at Leasing News for a year.

(We are in the process of up-dating all the association dues. ELA

now has a $600 “transition” membership to keep members active while

their companies may not be, plus has re-designed the dues for the

larger companies (funders) with a minor increase, whereas the UAEL dues

have a minor increase, but flat increase of $275 for all funders rather than a tier

system that ELA has. ELA also has many more categories reflecting the

nature of its organization.

There certainly is a reduction in volume being produced by all, except for perhaps

the attorneys, who never had it so good in fee income ( if they can collect it).

There are also less leasing companies still in existence.

It is obvious that those that remain have to step up to the plate to make up for the less membership income.

Whether the National Association of Equipment Leasing Brokers or Eastern Association of Equipment Lessors will follow with an increase of dues is not known at this time. There should be little debate that it is imperative you keep your lifeline, networking, stay on top of what is happening, and count on your

relationship gained through your leasing association to keep you in business.

Each of these organizations has their own niche or following. It appears UAEL

is downsizing in staff, location, and production from their original goals under

the leadership of Dr. Ray Williams, CAE.

It perhaps will not be until March, 2003, or maybe later, as calls are made to 2002 members to renew their membership, that we will know the results of the dues increase. Editor).

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Major automakers: November U.S. sales drop 18 percent

ASSOCIATED PRESS

DETROIT – The three major automakers on Tuesday reported that their combined U.S. vehicle sales fell nearly 18 percent in November compared with the same month a year ago, but they remained optimistic about the industry outlook.

November sales at General Motors Corp. fell more than 18 percent. Sales of the No. 1 automaker's cars were down about 6 percent compared with the same month in 2001, while light truck sales – including pickups, sport utility vehicles, vans and minivans – dropped 26.2 percent.

"Comparisons to a very strong year-ago November are difficult, however, our sales remain generally healthy," said Bill Lovejoy, group vice president of North American sales and marketing. "Importantly, we continue to improve our vehicle mix in an extremely competitive market."

Sales at GM's Saab unit were up 2.4 percent compared with November 2001.

The Chrysler Group of DaimlerChrysler AG reported sales fell 11.9 percent. The company's car sales were down more than 9 percent and light truck sales were off 12.6 percent.

Luxury automaker Mercedes Benz reported sales were up 3.4 percent for the month compared with November a year ago, as car sales rose 11.1 percent but truck sales fell nearly 24 percent.

Ford Motor Co.'s sales were down more than 20 percent. November sales of Ford, Lincoln and Mercury brand cars were down about 25 percent compared with the same month in 2001; light truck sales fell 18.5 percent.

But Jim O'Connor, Ford's chief of North American sales and marketing, said the No. 2 automaker remains optimistic about the prospects for sales in the months ahead.

"We are on track to finish the 2002 calendar year with a higher market share than where we started," O'Connor said. "The new Ford Expedition and Lincoln Navigator have made significant contributions to our improving market share trend among individual retail customers."

Ford's Jaguar unit reported sales fell 19 percent compared with November of last year.

The automaker's Land Rover unit showed sales that rose 39 percent from those during November 2001, and its Volvo unit saw sales edge higher from a year ago.

Figures are based on 26 selling days during the month of November, compared with 25 sales days in November 2001.

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Thanksgiving sales lift retailers' holiday hopes

By Reuters

HICAGO - Record Thanksgiving holiday weekend sales from J.C. Penney Co. Inc. and Wal-Mart Stores Inc. raised hopes of a stronger-than-expected holiday shopping season yesterday, easing concerns about a sluggish US economy.

But analysts were quick to point out that one weekend alone does not make a strong season, and it was too early to tell whether retailers could sustain the pace through December.

The National Retail Federation said three out of four consumers hit the shops over the weekend, according to its holiday survey released yesterday. Stores reported strong demand for clothing, electronics, jewelry, books and toys.

Online retailers including Amazon.com Inc. also racked up huge sales gains as some consumers shunned the crowds at the mall and shopped at home. Online retail sales jumped 61 percent to $234.2 million on the Friday after Thanksgiving, according to Bizrate.com, an online price comparison service.

J.C. Penney, which operates its namesake department stores and the Eckerd drugstore chain, said its Thanksgiving weekend sales reached a record, but did not disclose any figures.

Wal-Mart, the world's biggest retailer, posted its biggest-ever one-day sales tally Friday - a whopping $1.43 billion, up 14 percent from last year's $1.25 billion.

''We only have firm numbers coming out of Wal-Mart. J.C. Penney is indicating they were ahead of plan. Aside from that we're not getting any firm numbers until Thursday,'' said Hoff, who does not own shares in either company.

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The Need for Value Drives Consumers to Internet

By Bob Liu Internetnews.com

With at least three independent surveys indicating that consumers will

spend less on gifts this holiday season, the need to maximize dollars is driving shoppers online to e-tailing websites in droves.

Amazon reports that customers worldwide have already ordered more than 24 million items for the period of Nov. 1-28, according to its Holiday Delight-O-Meter. Because the Delight-O-Meter debutted Nov. 9, 2001, no year-ago comparison is available. While the online shopping giant attributed the surge to a number of heavily discounted items, experts said the decision by the company (as well as its competitors like eBay) to stick with free shipping as a promotional tool also helped attract shoppers.

"Methods to further reduce spending levels are clearly popular with consumers this year," said Lee Smith, president of Stamford, Conn.- based InsightExpress, a professional online marketing research firm. "Free shipping, greater discounts, and price comparisons are emerging as critical success factors for online stores this holiday season. The successful sites understand this."

As further evidence of recent trends, on Friday FAO Inc., the operator children's retailers FAO Schwarz, The Right Start and Zany Brainy, said it did not expect to meet its previously issued revenue and earnings guidance due to restrained consumer spending.