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Kit
Menkin’s Leasing News www.leasingnews.org
Friday, February 1, 2002 Headlines---
Wired Capital---Free Survey Report
Positive, but Cautious: ELA and IFC Meeting Report
“Full” Tyco Responds to Inquiries Regarding Director's Compensation
Myrna DuPape Now at BSB Leasing
LiveCapital Acquires Digité's Collaboration Technology
Leasing Group and Silicon Graphics (SGI )
Leasing Associations Meetings in February
Stillwell, Kansas---Rob Yohee Stormed In
State of emergency declared; ice storm called worst ever
Fox
says it has sold all available Super Bowl ads
( May be the best entertainment, unless a miracle, pray for the Patriots!!!
) ####
Denotes press release ####
######################################### New
Research Survey From Northern Consulting and WiredCapital Reveals (
send e-mail to: survey@wiredcapital.com
with name, company, and telephone
IRVINE,
Calif., -- Northern Consulting and WiredCapital announce the release
of the Research
was conducted from September 2001 to January 2002. The final report
was "The
top rated issues indicate a need for more effective and integrated front
office The
survey presents which credit, pricing, documentation and accounting
systems are most frequently used by survey respondents. Survey results
also indicate that these systems are not well integrated since survey
respondents re-enter information 2.6 times on average, and in the worst
case as many as eight times. "Lessors
have typically implemented many disparate systems for specific processes
and have been unable to integrate these systems and processes together
into a common platform," said Kevin Riegelsberger, president and
CEO of WiredCapital. "The survey clearly outlines the need for
a front office automation solution to manage financial transaction origination,
replacing current manual processes and stand-alone systems with an integrated
solution for sales, credit and documentation." About
WiredCapital WiredCapital
Inc., based in Irvine, California, develops enterprise software solutions
that enable front WiredLeasing,
WiredCapital's flagship software suite, automates the equipment lease
and loan
WiredCapital
is backed by Mobius Venture Capital. For more information visit http://www.wiredcapital.com
. About
Northern Consulting Northern
Consulting, LLC, based in Chicago, Illinois, is the premier provider
of systems and For
more information, visit http://www.northernconsulting.com . ###
#################################### ######################## Positive,
but Cautious: ELA and IFC Meeting Report
Back-to-back
ELA and Equipment Leasing and Finance Foundation events in Leesburg,
Virginia this week
Overall,
lessors were "positive, but cautious," about the current state
of their business. Reinforced by newly If
we have seen the worst of this economic cycle, most leasing companies
can probably expect to enjoy On
the caution side, most lessors believe a lag in equipment orders will
defer the concrete benefits News
of a sooner-than-expected recovery hasn't alleviated worries over portfolio
risk, both in In
the IFC meeting, a discussion of the competitive landscape in light
of consolidation yielded a Look
for a more detailed report on the Leadership conference and the Industry
Future The
official IFC report will be available in the Spring issue of the Journal
of Equipment The
Foundation site is http://www.leasefoundation.org
(
courtesy of ELAonline.com ) ####
############################################# ############################ Tyco Responds
to Inquiries Regarding Director's Compensation
PEMBROKE,
Bermuda, --L. Dennis Kozlowski,
Mr. Kozlowski said: "The Board felt that fee was appropriate in
light of
Mr. Kozlowski continued: "Clearly we are in an environment where
people
"Our businesses are healthy and continue to perform strongly. We
are on
Tyco International Ltd. (NYSE: TYC, LSE: TYI, BSX: TYC) is a diversified (
courtesy of ELAonline.com ) ###
########################################### ############### ____________________________________________________________________________________
Myrna DuPape Now at BSB Leasing ##
######################################## ############################### BSB Leasing,
a division of Procure Financial Services, appointed Myrna DuPape as
a regional sales ( courtesy
of Monitordaily.com ) #### ##############################################
################ LiveCapital
Acquires Digité's Collaboration Technology Strategic
technology provides best-in-class workflow in DecisionExpress(tm) San Mateo,
CA. - - LiveCapital, a leader in business credit automation, "Our
customers told us that workflow is vital. To meet their needs, we looked
for existing solutions to integrate with DecisionExpress," said
Tim Fleming, EVP of Technology and Marketing, LiveCapital. "Of
all the collaboration providers, we found that Digité offered the most
flexible, scalable, and robust infrastructure. It quickly became clear
that we needed to acquire this strategic technology. We've worked with
it for over a year now, embedding it into our infrastructure. It has
already enabled us to provide a much richer solution for our customers,
and we've just begun to leverage the capability." The collaborative
technology is used in DecisionExpress to provide an expanded credit
processing workflow capability. This extends DecisionExpress beyond
simply automating the 'yes' or 'no' credit decisions to streamlining
the workflow of any decisions that must be made by credit analysts,
as well as facilitating interaction between the analysts and sales reps
for improved customer satisfaction. The flexible workflow rules can
be easily updated as people and roles change over time, and as the business
optimizes its credit process. DecisionExpress version 2.3 is the first
product release to incorporate the Digité collaboration and workflow
technology. "At
Digité, our goal was to let our customers quickly implement workflow
to support their processes. The technology that we built is the culmination
of years of experience in managing and improving business processes."
said Muralidhran Nadarajah, Co-founder and CTO <http://www.digite.com/digite/>, Digité.
"It's exciting to see our technology incorporated into DecisionExpress.
Addressing business credit with both automation and workflow will provide
LiveCapital's customers with faster bottom-line results." About LiveCapital LiveCapital
is a leading provider of credit automation products to Fortune 1000
companies. The company's core product, DecisionExpress, automates the
credit approval process to speed sales and reduce operational costs.
Privately held and headquartered in San Mateo, California, LiveCapital
has streamlined credit management for industry leaders including United
States Steel, John Deere and Federated Capital. Investors include Kleiner
Perkins and XL Capital. For more information, please visit www.livecapital.com <http://www.livecapital.com>. Brochure
on line at: http://www.wiredcapital.com/public/documents/wiredCapital_Corporate_Brochure.pdf ###
########################## ############################# Leasing
Group and SGI New Program Assists SGI Solution Provider Customers to Purchase SGI Systems Without Burdening Their Capital Budgets Today MOUNTAIN VIEW, Calif / -- SGI (NYSE: SGI) announced a new financing program designed to help the customers of SGI's Solution Providers in acquiring new SGI(R) systems without burdening their capital budgets. The program, administered by Leasing Group, Inc. (LGI), a leading provider of innovative vendor-based financing solutions and outsourced financial transaction services will be available immediately. The program provides the customers of SGI Solution Providers with a host of financing solutions from a variety of financial institutions when making purchases of less than $100,000. Ray Muzzy, director of SGI Solutions Finance, announced the new services, saying, "SGI is committed to providing our clients and channel partners with the financing solutions they need to grow their businesses. We are striving to find ways to help our clients endure the tough economic circumstances. Our agreement with LGI enables us to offer a wide range of flexible financing options, faster turnarounds on funding decisions and an additional level of service and support to our direct customers as well as to our Solution Providers. Launching this program in January provides everyone with an opportunity to acquire the technology they need, at a price they can afford, to accomplish their 2002 business objectives." Today's announcement complements the deferred-payment program SGI announced on Jan. 3, 2002, for qualified customers who are purchasing equipment costing more than $100,000. (SGI Announces Attractive Deferred-Payment Financing Program) Under the agreement, SGI will take advantage of LGI's comprehensive, vendor-driven Web Finance Portal(TM) technology. Utilizing this proven platform, LGI will serve as the business process outsourcing partner for SGI. LGI will receive the customer's credit application, document and present the equipment order to the financing community, process the transaction and communicate the status of the transaction directly to SGI, the Solution Provider and to the customer through the Web Finance Portal. In support of the program, LGI has established a dedicated team of finance professionals within its Austin, Texas call center to assist SGI Solution Providers with all of their financing questions and funding decisions. "SGI serves very demanding markets -- manufacturing, sciences, government/defense, media, and education and research," said Clark Covert, chairman and CEO of Leasing Group. "SGI is the only vendor that can provide the level of performance these creative and technical buyers crave. We understand this user community. We provide high-performance financing solutions that allow these customers to acquire the equipment they need within a payment plan they can afford. Our financing experts look forward to working with SGI and their Solution Providers to facilitate fast, efficient transactions and to ensure that each individual customer receives a financing solution that meets their unique business requirements." About SGI Celebrating its 20th year, SGI, also known as Silicon Graphics, is the world's leading provider of high-performance computing, complex data management and visualization products, services and solutions that enable its technical and creative customers to gain strategic and competitive advantages in their core businesses. Whether being used to design and build safer cars and airplanes, discover new medications and oil reserves, better predict the weather, entertain us with thrilling movie special effects or provide mission- critical support for government and defense, SGI(R) systems and expertise are empowering a world of innovation and discovery. The company, located on the Web at http://www.sgi.com , is headquartered in Mountain View, Calif., and has offices worldwide. NOTE: SGI, and the SGI logo are registered trademarks of Silicon Graphics, Inc. All other trademarks mentioned herein are the property of their respective owners. (Logo: http://www.newscom.com/cgi-bin/prnh/20010510/SFTH025LOGO ) CONTACT: Media, Marla Robinson, +1-256-864-3426, marlar@sgi.com, SGI PR Hotline, +1-650-933-7777, or SGI PR Fax, +1-650-932-0737 ####
############################### ########################## #######
Leasing Associations Meetings in February 2/10-12
Equipment
Management Conference Marriott
Desert Springs Resort Palm Desert, CA
http://www.elaonline.com/events/2002/EquipMgmt/ 2/11 2/12 http://www.elaonline.com/events/2002/custsrvc/ 2/22
Stillwell,
Kansas---Rob Yohee Stormed In!!! I
do not know if you have seen it on national news, but we have had a
very
bad ice storm here. The power keeps going on and off. Currently there
are
almost 300,000 without power. We just got ours back. The problem is
that trees
full of ice keep falling on the lines.
Our power went out last night. Trees falling all over and transformers
blowing
with that blue/green flashes all around us. Very spooky. It is supposed
to drop to 18 degrees tonight and the wind is expected to pick up. I
have
made reservations at a local hotel with backup generator power. I am
shutting
off our water supply so the pipes will not burst and closing the office.
With the power coming and going the surges are hard on the equipment. Rob
Yohe (
It was below freezing in our area, very rare. This morning it was 31
degrees and
the water froze on my windshield. I had to let the car warm up, as
I keep it
outside, and hot water then did the trick. Not as cold as Kansas.
editor ) State
of emergency declared; ice storm called worst ever
Missouri's
governor and Kansas City's mayor signed emergency declarations today
after a fierce winter storm iced power lines and trees and dumped heavy
snow across northwestern Missouri. Nearly
300,000 customers in the Kansas City area alone lost power during the
storm. At least 270,000 of those belonged to Kansas City Power &
Light, whose frustrated repair crews fixed lines only to see them brought
down again by overwhelmed branches. Mayor
Kay Barnes' declaration allows Kansas City to drastically alter its
procedures to react to disaster conditions. Soon after her declaration,
Gov. Bob Holden signed a similar order, giving west-central and northern
Missouri access to state help in digging out. Holden's declaration eventually
could lead to federal disaster relief money. Kansas
City officials estimate they have spent $1 million already on the storm,
which began in earnest Wednesday and continued into today with freezing
rain and ice. Kansas
City Power & Light spokesman Tom Robinson called the storm ``easily
the worst'' in the city's history. ``We
need our customers to be prepared that this could last several days,"
he said. ``We are going to round up every resource we possibly can to
deal with this.'' Power
lines and trees slumped under the weight of the ice, caused by rain
which began falling steadily early Wednesday and into this morning.
Branches snapped and fell onto power lines, blowing power transformers
and cutting heat to thousands of homes as overnight temperatures fell
into the mid-20s. Branches
crashing through power lines created a 10-fold risk of fires, officials
said. ``We are in a tremendous fire hazard right now,'' Fire Chief Smokey
Dyer said. Utility
crews were frustrated today after repairing lines only to see them brought
down again by overwhelmed branches. Many
neighborhood streets were impassable and some major thoroughfares impeded.
During the morning rush hour, many traffic control signals were out
of service and police made arrangements to control the traffic. Noll
praised emergency crews and firefighters who worked throughout the night. ``There
are a lot of heroes,'' he said. Crews
hauled nearly 500 large trees off of main roads between 4 p.m. Wednesday
and 4 a.m. today. The city is bringing in 40 contract crews from Alabama
to clear more storm debris. In
an 11½-hour period, the fire department dispatched on 341 calls compared
with the usual 140 calls in a day, Noll said. At one point, firefighters
were coping with six structural fires simultaneously. KCPL's
Robinson said the utility was seeking help from other electric companies,
but since those nearby in Kansas and Missouri were experiencing similar
problems, the help would have to come from far away. About
10,000 customers of the Board of Public Utilities in Kansas City, Kan.,
were affected by power outages, and at least 9,000 Westar customers
in the outlying areas of Olathe, De Soto and Bonner Springs, Kan., also
lost power. Virtually
all schools in the area called off classes today for the second straight
day. Meanwhile,
heavy snow was reported farther to the north, in both Missouri and Kansas,
with a winter storm warning still in effect for a wide area. The National
Weather Service said between 9 and 14 inches of snow could accumulate
near Maryville and Rockport in extreme northwest Missouri, with 6 to
12 inches at St. Joseph by tonight. The
forecast didn't inspire much hope for a quick melting. Sunny
skies were expected to return Friday to western Missouri, though high
temperatures should only range from the mid-20s north to the upper 30s
southeast. The
extended forecast Saturday through Monday called for partly to mostly
cloudy skies, with highs each day from the mid-30s north to the mid-40s
south. The
storm made for treacherous driving. A
truck was left dangling precariously off Interstate 670 in Kansas City
after a four-vehicle accident, and rescue crews used an aerial platform
to rescue the truck driver. In
Kansas, sleet, snow and thick coatings of ice created a weather nightmare
for Kansans today, shutting down schools and causing power outages that
put tens of thousands in the dark. Icy
roads were blamed for at least two deaths on Kansas roadways. Hundreds
of school districts canceled classes Wednesday and Thursday. The University
of Kansas and Wichita State University called off classes again Thursday.
Kansas State University in Manhattan was to open at noon, while the
Salina campus remained closed. Falling
tree limbs and downed power lines left many communities without power.
At the height of the storm, an estimated 88,000 Westar customers in
Kansas were without power, and about 11,000 remained in the dark this
morning in Wichita, El Dorado and Cowley County, said spokeswoman Karla
Olsen said. In
Kansas City, the storm hindered trash pickup south of 39th Street and
there will be no trash pickup today as trash crews help with tree removal. Gladstone
residents today can start disposing of downed trees and debris left
by the storm. The public works facility at 4000 N.E. 76th St. will be
open from 8 a.m. to 5 p.m. today and Friday, as well as through the
weekend if needed. There is no charge for the disposal Fox says
it has sold all available Super Bowl ads
( ads
may be the only excitement of the game!!! unless there is a miracle---
Pray for the Patriots!!! Go Patriots!!!! )
By
Skip Wollenberg, Associated Press NEW
YORK (AP) With just three days to spare, Fox said Thursday it had sold
out all available commercial time in Sunday's Super Bowl telecast at
an average price of just under $2 million per 30-second ad. Fox
sold the last of the 60 commercial spots available in the game on Thursday
afternoon, according to Fox spokesman Lou D'Ermilio. He
said about 32 different sponsors bought the in-game Super Bowl ads.
The
Super Bowl telecast of the NFL championship game typically draws television's
biggest audience of the year and its ads carry TV's highest price tags.
But
this year's average price is down from the revised $2.1 million average
that industry insiders say CBS got for half-minute ads a year ago. Both
prices are below the record $2.2 million average for a 30-second spot
that ABC said it got in 2000, when dot-com advertisers bought 40 percent
of the commercial time. The dot-com bust later that year saw many fail,
and some who survived have not been back. This
year's ad sellout came later than usual as the economic slowdown, a
pullback in ad spending and competition for advertising budgets from
the Winter Olympics which start five days later depressed demand. But
D'Ermilio said Fox sold its last in-game ad a day sooner than when the
network last telecast the NFL championship game three years ago. Sunday's
game matches the New England Patriots against the heavily-favored St.
Louis Rams and is being played in New Orleans. The
sponsors include the Super Bowl regulars like brewer Anheuser-Busch
and Pepsi and several movie studios. Others include apparel brands Levis
and Dockers, financial services concerns E-Trade, Charles Schwab and
Visa, fast-food chains Taco Bell, Quizno's and Subway, as well as delivery
giant FedEx Corp. The
White House is airing a pair of commercials warning that buying illegal
drugs could finance international terrorists. www.leasingnews.org |
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