|
|
Kit
Menkin’s Leasing News www.leasingnews.org Wednesday, February
13.2002 ______________________________________________________ Airlines
Face Three More Tough Times
Quilling Calls It “Quits,” Joins Heritage Pacific Leasing
Baruch Forms New Muni Leasing Company
With McGuinn
Lease Conferences
James White Joins TCF Leasing Domino's
Pizza buying 82 franchised stores in Phoenix market
Bank of the West Selects CapitalStream to Provide Process Automation
Leasing Group Inc. Forms Mexican Subsidiary To satisfy International
Demand
MicroFinancial Gets New Chairman of the Board---Dr. Peter R. von Bleyleben
AMRESCO Leasing Corp. Acquired by NCS I, LLC
Karmart Selects Compaq to Enhance Dealership Efficiency eCredit Subsidiary Secures Funding/ Strategic Reseller Japan Thomas W. Bunn, Bank of America Veteran Now at KeyCorp GATX Elects Robert Lyons to Vice President, Investor Relations
Leasing News List to be up-dated ####
Denotes Press Release ______________________________________________________________ GE/Heller
Chicago Office Alleged “Sick Out” Still
no confirmation or denial. Only this unsigned e-mail: Tim Reese
is the greatest person that GE ever let go. Ge should have learned
people skills ( PS.
Leasing News has many GE and Heller and related e-mail addresses,
but not a peep. editor ) ----------------------------------------------------------------------------------------
Airlines
Face Three More Years of Tough Times,
Reports AirlineMonitorWeekly.com
Airlines
face up to three more years of tough times before recovery, predicts
the president Henry
Hubschman, president of GE Capital Aviation Services, said the industry
was already
AirlineMonitorWeekly
talked with some of the largest lessors in this Special Report: GECAS
Says Down Market Will Last Up to Three Years GATX Divorces Flightlease
and Other
Stories in this week's AirlineMonitorWeekly.com: Lombard
Aviation Capital: Pick and Mix Off-Balance Sheet Debt at the Airlines
Second AirlineMonitorWeekly.com
is published every Tuesday and provides news, analysis, interviews The
Airline Monitor magazine is a leading industry source for forecasting
airline and commercial
Airline Capital
Associates is a consulting and financial advisory firm specializing
in the
( courtesy
of ELAonline.com ) _______________________________________________________________ Quilling
Calls It “Quits,” Joins Heritage Pacific Leasing Thomas
“Tom” Quilling , 18 years with Decision Systems, a leading
leasing software provider, “
I just got tired of traveling all around the United States and Canada,”
Tom said. “ My life Tom’s
office is at 5353 Gamble Drive, Suite 150 Minneapolis, MN 55416; His
telephone number Decision
Systems ( http://www.decisionsystems.com/training.htm) on September
26, in “good shape”: and he left primarily because he was tired of traveling. ------------------------------------------------------------------------------------------------------------ Baruch
Forms New Muni Leasing Company Baruch
and Company has been formed to provide tax-exempt financing to municipalities
and . Baruch
is joined by Chris Jones and other former employees of Sutro in providing
equipment, The
company specializes in providing tax-exempt financing to municipal
entities acquiring “Our
staff has completed over $1 billion of transactions nationally. We
work directly with issuers, http://www.baruchandcompany.com/home.htm 165 S. Union Blvd.----------------------------------------------------------------------------------- With
McGuinn
By
Associated Press NAME:
Martin G. McGuinn AGE:
59 OCCUPATION:
Chairman and chief executive officer of Mellon Financial Corp. LOCATION:
Pittsburgh. EDUCATION:
Bachelor's degree and law degree from Villanova University. CAREER
EXPERIENCE: After graduation, McGuinn spent three years in the U.S.
Marine FAMILY:
Wife Ann and two sons, Patrick, 30, and Chris, 17. He says new granddaughter,
Bailey, QUOTE:
''Mellon has changed and is still changing.'' ---------------------------------------------------------------------------------------------------------- April 11 - 14, 2002 National Association of Equipment Leasing Brokers 2002 Annual Convention Caribe Royale Resort, Suites Hotel and Villas Orlando, FL Here is the site: http://www.cariberoyale.com/ http://www.cariberoyale.com/meeting.html http://www.cariberoyale.com/contactus.html or reservations on line http://www.ebookingz.com/reservations.htm ( I prefer to speak to people, as I have had difficulties with these automated processes, not working them, but they don't answer a lot of questions. ) Those that didn't hear Mike Meacher on "Meet the News Maker.." he discussed the conference: Bozo : Is the annual convention in Orlando this year going to be worth my time and money? [ Michael_Meacher ANSWERS ] We're real excited about the convention this year. Because of all the changes in the industry, we're already finding interest to be higher than ever among the brokers and the funders. We expect to have a lot of new attendees in both categories. >> INTERVIEW [ SUBMITTED QUESTION ] Convention 2 [ Michael_Meacher ANSWERS ] Of course, our location isn't hurting it at all! We've got the best value in all of the Orlando area! The Caribe Royal Suites & Villas is, perhaps the nicest site we've ever had. In true NAELB fashion, though, it's a bargain!! >> INTERVIEW [ SUBMITTED QUESTION ] Convention 3 [ Michael_Meacher ANSWERS ] All accommodations are full suites for less than the price of most regular rooms in other convention facilities. Breakfast is included, too! A lot of attendees will find it even more attractive to take a villa. They're beautiful. You can see it all at: http://www.cariberoyale.com/ The above is from the transcript ( I think "Bozo" was Bob Bell's log in--- if you want to read the Leasing News version where Mike talks about NAELB for over an hour, here is the news story: http://www.leasingnews.org/Conscious-Top%20Stories/MikeMeacher.htm May
2–4, 2002 United Association of Equipment Leasing 2002
Spring Education Conference Brent
Hall has put this together, and he has thought of the right times
for workshops and fun !!!! Bring your wife or girl friend, and cash
as you can’t win, unless you play! Bet
On America! Ceasars
Palace Online
registration coming soon. Check back for details. Download
the Spring Conference Flyer (requires Acrobat Reader) Please
contact Ceasars Palace directly to make hotel reservations at For more
information on the 2002 UAEL/EAEL Spring Conference, please contact
Joanie at the http://www.uael.org/events/spring/UAELSpringCon.pdf ( You can believe this will be one fun time, and educational too, especially if Brent Hall is involved. editor ) ______________________________________________________________________ James
White Joins TCF Leasing, Inc.
TCF Leasing, Inc., Minnetonka, Minnesota, announces that James White has joined ( courtesy of ELAonline.com ) Domino's
Pizza buying 82 franchised stores in Phoenix market
ANN
ARBOR, Mich. (AP) Domino's Pizza LLC announced Tuesday that it will
The
purchase from franchisee Sierra-Sonora Enterprises Inc. will bring
the number Sierra-Sonora
is owned by Rick Flory, who opened his first Domino's outlet in 1980.
Founded
in 1960, Ann Arbor-based Domino's operates 7,112 company-owned and
-franchised On
the Net: Domino's
Pizza LLC, http://www.dominos.com ________________________________________________________________________ #### ###################################### ######################### Bank
of the West Selects CapitalStream to Provide Process Automation CapitalStreams
technology solution will automate and standardize transaction management Seattle,
WA - CapitalStream (www.CapitalStream.com), a Seattle-based
provider of patent Frank
Bonetto, Bank of the Wests Senior EVP for Regional Banking, says the
CapitalStream CapitalStreams
technology will enable real-time responses and consistent processes,
resulting As
Bank of the West grows, new branches can be added into the system,
which is easily scaled yet CapitalStreams
FinanceCenter automates the commercial finance process across multiple
business Our
position as a leader in providing the most efficient commercial finance
automation technology Bank
of the West in December announced the acquisition of United California
Bank, which has About
Bank of the West Founded
in 1874, Bank of the West, with $13.4 billion in assets and 193 branches
at the end of 2001, About
CapitalStream Seattle-based
CapitalStream automates and streamlines commercial finance processes
for banks, #### ################################## ###################\\ Leasing Group Inc. Forms Mexican Subsidiary To satisfy International Demand (
http://www.leasinggroup.com AUSTIN, Texas--Leasing Group Inc. ("LGI"), the industry's leading provider of innovative vendor-based financial solutions and outsourced transaction management services announced today that it has established a subsidiary, LGI de Mexico, S. de R.L. de C.V., to provide financing solutions to equipment vendors doing business in Mexico. Today's announcement represents an international expansion of LGI's multi-tiered, multiple funding source business model. This model, coupled with LGI's advanced Web-based technologies and proven business process outsourcing capabilities, provides equipment vendors with a competitive advantage in the Mexican marketplace. Companies can now offer their consumer and business customers a host of world-class financial solutions from a variety of international and local financial institutions. LGI's model also benefits the funding source community by offering higher volumes, lower origination costs and enhanced account management services. "The Mexican marketplace represents a natural opportunity for U.S. companies to extend their business beyond our borders," said Clark Covert, LGI's Chairman and CEO. "However, the logistical requirements, systems connectivity and managerial issues associated with offering multiple financial products in an international environment hamper a company's expansion into Mexico. Today's announcement, along with the funding source relationships we have already established in Mexico, addresses many of these issues, allowing companies to offer specific financing solutions to meet the needs of the Mexican marketplace in a cost-efficient and effective manner." Commenting on the challenges many U.S. companies face when expanding into Mexico, Bud Welborn, LGI's Vice President of Latin America Operations, offered insight into the value LGI's business model provides. "Mexico follows unique business practices in relation to other countries. To be successful, companies must be able to do business seamlessly in both Spanish and in English. We've built our bilingual processing systems to complete financial transactions in either US dollars or Mexican pesos. This dual currency capability, combined with the electronic efficiencies of our bilingual Web-based platform generates faster turnaround on funding decisions, higher close rates, and increased satisfaction from customers who are looking to finance their equipment purchases." In conjunction with the formation of its new subsidiary, LGI has established an office in Mexico City to support local equipment vendors. Luis Guillermo Soto will be located in Mexico City and is available for programs throughout the entire country. Having served as the Latin America Director of 3COM Capital de Mexico and Mexico Regional Director of ARI Fleet Services, Mr. Soto has extensive experience in providing financial solutions to companies operating in Mexico. About LGI Leasing Group Inc. (LGI), www.leasinggroup.com is the industry's leading provider of innovative vendor-based financing solutions and outsourced transaction management services. Serving both the equipment vendor and the funding source community, LGI provides a faster, more efficient way for equipment vendors to offer world-class financial solutions to their clients. Through a variety of national account programs and Internet based solutions, LGI provides the funding source community with aggregated volumes, lower origination costs, and lower marketing and account management costs. Based in Austin, Texas and founded in 1988, LGI has a fourteen-year history of vendor-driven industry leadership. The firm pioneered many of today's common industry practices including authorized transactions via faxed signatures, electronic transfer of funds using EDI standards, non-recourse, small ticket leasing programs; and leases that do not require the use of delivery and acceptance documents. Currently backed by Conning Capital Partners and Stephens Inc., LGI has funded over $1 Billion in financial transactions since its inception and its innovative and technological leadership continues today with the expansion of its Web Financial Portal(tm). For more information about LGI, visit www.leasinggroup.com or call 800/608-5201. CONTACT: Leasing Group Inc., Austin Bud Welborn, 512/344-1231 bud-welborn@leasinggroup.com #### ########################################## Classified Up-Date Due to the hacker attack, we are bringing this today in the daily news. These are job postings by individuals. No requirement, except maximum 25 words.
21 in Help Wanted ( requirement: must be a member of a professional leasing association ) http://65.209.205.32/LeasingNews/JobPostingsWanted.htm 9 in Outsourcing ( only requirement is maximum 25 words ) http://65.209.205.32/LeasingNews/JobPostingsOutsourcing.htm 2 attorneys ( requirement: must be a member of a professional leasing association ) http://65.209.205.32/LeasingNews/JobPostingsAttorney.htm 3 recruiters ( requirement: must be a member of a professional leasing association ) http://65.209.205.32/LeasingNews/Recruiters.htm Other sites to post a job wanted http://65.209.205.32/LeasingNews/Classified.htm Tips on Finding Work Note: Ripoff.Report.com www.badbusinessbureau.com on Leasecomm ( owned by Microfinancial: http://www.ripoffreport.com/reports/ripoff5652.htm Overcharged by Leasecomm: http://www.bizweb2000.com/wwwboard/messages/18474.html Leasecon Complaint Station for Leasecomm: http://www.thecomplaintstation.com/l/leasecomm_toc.htm Don’t
Sign that Leasecomm Contract \ Consumer Affairs On Line: http://www.consumeraffairs.com/business/leasecomm.html Complaint of the Day http://www.complaints.com/complaintofthedayfebruary92001.4.htm all about this company, who’s press release follows: #### ###################################### ################### New Chairman of the Board and President Announced at MicroFinancial Incorporated
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 12, 2002--On January 17, 2002, MicroFinancial's Board of Directors appointed Dr. Peter R. von Bleyleben Chairman of the Board. Bleyleben will assume the role of Chairman and also continue his duties as CEO effective immediately. The position of President of MicroFinancial will be assumed by Richard F. Latour, who will continue to serve the corporation in the roles of COO and, for the time being, CFO of the company. Mr. Latour will also be recommended for nomination to the Board of Directors at the next special meeting of shareholders in May 2002. Under the leadership of Bleyleben and Latour since its earliest days, MicroFinancial is a leader in the "microticket" segment of the leasing industry. It has paid a quarterly dividend for twenty-seven consecutive quarters and has been profitable since 1987. MicroFinancial had its initial public offering in early1999. Previous to his promotion to Chairman of the Board, Bleyleben has served as President, Chief Executive Officer and Director of MicroFinancial or its predecessor since January 1987. Before joining the company, he was Vice President and Director of the Boston Consulting Group, Inc. in Boston. Dr. Bleyleben earned an M.B.A. with distinction and honors from the Harvard Business School, an M.B.A. and a Ph.D. in Business Administration and Economics, respectively, from the Vienna Business School in Vienna, Austria and a B.S. in Computer Science from the Vienna Institute of Technology. From 1986 to 1995, Latour was Vice President of Finance and Chief Financial Officer of the company. Prior to joining MicroFinancial, Latour was Vice President of Finance for eleven years with Trak Incorporated, an international manufacturer and distributor of consumer products, where he was responsible for all financial and operational functions. He earned a B.S. in Accounting from Bentley College. Started in 1986, MicroFinancial, Inc. is a publicly traded company on the NYSE (Stock symbol: MFI). Its wholly-owned subsidiary, Leasecomm, finances equipment ranging in price from $500-$10,000. Leasecomm is the preferred leasing company of thousands of companies nationwide. Leasecomm uses proprietary software in developing a sophisticated, risk-adjusted pricing model and in automating its credit approval and collection systems. They provide leasing services to dealers selling business equipment and fixtures ranging from point of sale authorization equipment to security equipment to restaurant and medical equipment. Leasecomm is distinguished by its financial stability, a solid 15-year track record in business, as well as the ability to offer financing to lessees with a broad spectrum of credit histories. For more information, contact MicroFinancial's Director of Marketing Communications, Kathleen Bennett at 1-781-890-0369 ext. 7418. # ############################ #################### AMRESCO Leasing Corp. Acquired by NCS I, LLC; eRoomSystem's Securitized Lender is Purchased by Goldman Sachs/Fortress Joint Venture
LAS VEGAS--eRoomSystem Technologies Inc. (Nasdaq: ERMS), a leading supplier of in-room technologies for the lodging industry, Tuesday announced that NCS I, LLC, an entity jointly owned by Goldman Sachs Mortgage Co. and Fortress Investment Trust, recently purchased AMRESCO Commercial Finance Inc., the parent corporation of AMRESCO Leasing Corp. The transaction closed on Dec. 21, 2001. Under its seven-year credit facility with AMRESCO Leasing Corp., eRoomSystem receives funding on products placed with three-, four- and five-star hotels on a revenue-sharing basis following a brief seasoning period and upon satisfying certain underwriting requirements as well as the terms and conditions of the credit facility. Over the past 10 months, eRoomSystem has received gross fundings from AMRESCO Leasing Corp. in excess of $1.5 million relating to eight revenue-sharing installations. eRoomSystem's revenue-sharing arrangement is unique to the industry in that it allows hotel properties to install its products and expandable platform at virtually no up-front cost, while creating a profit center through realization of significant labor savings over traditional honor bar and other automated systems. About eRoomSystem Technologies Inc. eRoomSystem Technologies Inc. is a full-service in-room provider for the lodging and travel industry. Its intelligent in-room computer platform and communications network supports eRoomSystem's line of fully automated and interactive refreshment centers, room safes and other proposed applications. Such applications include, or will include, in-room energy management systems, information management services, credit card/smart card capability for direct billing, network access solutions, remote engineering and maintenance services, and in-room cash advance. eRoomSystem's products are installed in major hotel chains both domestically and internationally. eRoomSystem is a publicly traded company listed on the Nasdaq SmallCap Market. You can visit eRoomSystem Technologies Inc. on the Worldwide Web at www.eroomsystem.com. Certain statements in this press release with respect to future expectations and plans may be regarded as "forward-looking statements" within the meaning of Section 27A of Securities Act of 1933, Section 21E of Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements, including, but not limited to, statements with respect to future earnings, and all other forward-looking statements involve risks and uncertainties and are subject to change at any time. CONTACT: eRoomSystem Technologies Inc. Gregory L. Hrncir, 435/688-3603 Fax: 435/628-8611 gc@eroomsystem.com ############## ################################# Karmart Selects Compaq Technology Solutions to Enhance Dealership Efficiency
New Technology Enhances Dealer's Ecommerce, E-mail Capabilities BURLINGTON, Wash., Feb. 12 /PRNewswire/ -- Today, Karmart Chrysler Dodge VW Mitsubishi, a member of the National Automobile Dealers Association (NADA) and one of Washington's largest automobile dealers, selected Compaq (NYSE: CPQ) as its preferred technology provider to enhance the dealership's electronic commerce and e-mail capabilities. This selection follows last month's announcement during the NADA annual convention in New Orleans naming Compaq as one of the organization's preferred technology providers for the NADA PC purchase program. The program allows the NADA's 19,500 dealer-members and their employees to purchase discounted technology products and services from Compaq. Leasing Partner Using Compaq Financial Services, Karmart -- which sells automobiles manufactured by Chrysler, Mitsubishi, and Volkswagen -- signed a three-year agreement to lease Compaq Evo D300s desktop computer units using industry- standard Microsoft software and related equipment. "Compaq has a strong reputation in the technology industry," said Michelle Kristiansen, chief financial officer for Karmart Chrysler Dodge, Volkswagen, Mitsubishi. "Compaq offered competitive pricing, attractive leasing terms and best-in-class products. About 30 percent of our sales occur over the Internet. We wanted to enhance our IT infrastructure -- replacing dumb terminals -- and are using the new systems to enhance our employee e-mail capability, increase our ability to effectively and efficiently handle customer Internet sales opportunities, and ensure we are in compliance with our manufacturers brand standards that include Internet access capabilities." Additionally, Kristiansen said she uses Seattle-based Corporate Computer Inc., www.cci.net , a Compaq authorized value added reseller, to help implement data services and Internet solutions. "The overall technology refresh will make our dealership even more competitive," said Kristiansen. "Karmart's decision reflects our vision for creating the PC purchase program to offer best-in-breed technology partners, such as Compaq, to serve our dealer-members," said Don Gentry, chief information officer, National Automobile Dealers Association. "We hope all of our members will take advantage of the program to enhance their dealerships' information technology capabilities." IT Systems Through NADA The NADA PC Purchase Program is designed to provide dealers and their staffs with the opportunity to obtain reliable, cost-effective computer systems and technical support at the lowest possible prices from major PC manufacturers. Using dedicated toll-free phone numbers and websites, such as 1-888-202-4256 and www.compaq.com/promos/nad1 , NADA members can reach experienced representatives who can assist in the acquisition of new, built- to-order computer systems designed specifically for dealerships. The NADA PC Purchase program serves as an opportunity for Compaq to promote its technology to automobile dealers throughout North America. "Compaq is a leader in providing technology solutions to growing businesses," said Dan Busse, North America Small & Medium Business marketing director, Compaq Computer Corporation. "Our participation in NADA's PC Purchase program is a natural extension of our brand and capabilities in providing automobile dealerships and their employees access to quality and affordable technology solutions." A leading global provider of IT products, services, and solutions, Compaq designs, develops, manufactures and markets industry-leading storage and computing solutions; fault-tolerant business-critical solutions; and desktop, notebook, and personal entertainment and Internet access devices. Information on Compaq and its products and services is available at www.compaq.com . For more information about the NADA PC Purchase Program, please visit www.nada.org . To visit Karmart's, online showroom, go to www.frontierchrysler.com . About Karmart Chrysler Dodge VW Mitsubishi Karmart Chrysler Dodge VW Mitsubishi is a member of the NADA and is a leading provider of new and used automobiles. Based in Burlington, WA, Karmart provides sales and service on Chrysler-Dodge, Volkswagen, and Mitsubishi manufactured vehicles. Karmart also offers myCarTools.com where customers can login and register to view and update personal service records, schedule a service appointment, and check to see if any recalls apply to their vehicle. Information on Karmart and its products and services is available at www.frontierchrysler.com . About NADA The National Automobile Dealers Association represents America's franchised new-car and -truck dealers. The organization provides services and training programs to help dealer members improve their business operations and bottom-line performance. NADA was founded by dealers in 1917. Today there are more than 19,500 franchised new-car and -truck dealer members holding nearly 40,000 separate new-car and light-, medium-, and heavy-duty truck franchises, domestic and import. Company Background Founded in 1982, Compaq Computer Corporation is a leading global provider of information technology products, services and solutions for enterprise customers. Compaq designs, develops, manufactures and markets information technology equipment, software, services and solutions, including industry- leading enterprise storage and computing solutions, fault-tolerant business- critical solutions, communication products, personal desktop and notebook computers, and personal entertainment and Internet access devices that are sold in more than 200 countries directly and through a network of authorized Compaq marketing partners. Information on Compaq and its products and services is available at www.compaq.com . ### ########################################## ################# eCredit Subsidiary Secures Funding and Strategic Reseller Agreementswith Japan’s Major Systems Integrators Partnerships with NTT Data, Hitachi, Intec and Toshiba IT Solutions Establish eCredit.com as Japan's Premier Provider of Credit and Financing Software DEDHAM, Mass., and TOKYO, / -- eCredit.com(TM) today announced a successful round of funding and the signing of strategic reseller agreements with Japan's premier systems integrators: NTT Data, Hitachi, Intec and Toshiba IT Solutions. By securing these strategic agreements, eCredit - through its subsidiary eCredit Co., Ltd. ("eCredit KK") -- expands its
presence to the Japanese market, while establishing itself as the country's premier credit and financing software vendor. "Systems integrators play an extremely important role in the information- technology lifecycle of Japanese businesses -- from influencing the purchase of new software through its final deployment -- so attracting the financial backing and reseller resources of Japan's elite systems integrators is a major step forward for eCredit KK," said Masaki Chihara, president of eCredit KK. NTT Data, one of Japan's largest systems integrators, will provide eCredit KK with extensive systems integration services to support its Japan operations. Together, the companies will develop and implement localized Japanese-language versions of eCredit.com(TM) automated credit and financing solutions. In addition, the two companies plan to combine technology and products, taking advantage of NTT Data's strength and domain expertise in Japanese financial network applications and the credit and financing decision automation solutions of eCredit, to create a powerful credit infrastructure for Japanese corporations. "Japanese companies are ready for a credit automation revolution," said Ken Tsuchihashi, senior manager of NTT Data. "While sophisticated on many fronts, most businesses here grant and manage credit using manual processes that can take days, a hindrance to realizing the full potential of online commerce." Similarly, Hitachi and Toshiba IT Solutions will lend their market expertise to enable eCredit KK to deliver solutions that comply with Japanese business practices and standards, while also leveraging their influence among their clients to adopt advanced credit and financing automation solutions. "In the offerings of eCredit, appropriately tailored for Japan's business environment, we have found a breakthrough solution that gives us an excellent opportunity to streamline the credit operations of our present and future clients," said Shigeru Shoda, senior manager, Hitachi. Added Masahito Shirai, vice president, Toshiba IT Solutions, "eCredit has demonstrated strong leadership in the U.S. market. Our initiative with eCredit presents exciting opportunities to propel the Japanese market to new levels of business automation, delivering bottom-line savings and top-line revenue opportunities to our clients." Finally, Intec, a leading independent systems integrator and network service provider, will work with eCredit KK to provide sales and systems integration services, while providing a presence in Japan's market, particularly in the banking community. "The combination of eCredit and Intec will create a one-stop solution for traditional and e-commerce transactions. Together we will provide the robust technology and rapid implementation services needed to serve a broad range of customers," said Koju Takizawa, managing director, Intec. Added Christopher Richmond, president and CEO of eCredit.com, "The success of our Japan subsidiary in attracting the backing of the country's leading systems integrators -- companies that bring a cache of local knowledge, domain expertise, industry influence, customers, prospects, capital and implementation resources -- advances the eCredit mission of establishing and expanding its presence in the world's largest markets. We believe our credit decision and process automation software products will provide significant value to Japanese financial institutions and industrial companies." About eCredit.com Since 1993, eCredit.com has delivered credit risk management software and services to Fortune 1000 companies and financial institutions. The company improves credit practices and decision-making processes to increase customer satisfaction and lower operating costs. Included among the Company's customers are ChevronTexaco, Cisco, Gateway, Ryder System, Inc., Textron and Tyco Capital. eCredit, headquartered in Dedham, Mass., is a partner company of Internet Capital Group (Nasdaq: ICGE). For additional information, visit eCredit on the Web at http://www.ecredit.com. eCredit.com and the eCredit.com logo are trademarks of eCredit.com. For more information, contact: Kathy Hawthorne Dan Mees/Karen Freeman eCredit.com Porter Novelli Convergence Group (831) 476-4005 (617) 450-4300
kathy@ecredit.com karen.freeman@pnicg.com #####
######################################## ################### Thomas
W. Bunn, Bank of America Veteran, to Head KeyCorp's Corporate Finance
Unit
CLEVELAND,
/ -- In
his new position, Bunn will be responsible for Key's Large Corporate
and Middle Market Commercial Banking groups, Commercial Real Estate,
Equipment Finance, Specialized Industries, Global Treasury and Key's
B-to-B internet business. "We
are fortunate to have attracted Tom Bunn as Jim's replacement,"
Meyer said. "Over the past 23 years, Tom has been extraordinarily
successful at the most senior levels of corporate finance and investment
banking. We expect Tom -- working closely with the talented professionals
in Key Capital Partners -- to raise dramatically our ability to create
profitable cross-business growth opportunities, particularly in the
areas of investment banking and capital markets." Before
his new assignment, Bunn worked for Bank of America for 23 years.
During his career at BofA, he led the development of several key businesses.
He founded the company's Global Syndicated Finance business and led
it to a top industry ranking. He helped develop and managed BofA's
Global Fixed Income business, and led in the formation of the company's
Global Leveraged Finance business. Bunn holds a BS degree in business
from Wake Forest University and an MBA from the University of North
Carolina at Chapel Hill. "Jim
Bingay has been immensely helpful in setting the course for our corporate
banking business and executing on that strategic direction,"
said Meyer. "During the 11 years he led the group, Corporate
Banking has grown to comprise approximately 50 percent of our earnings,
while our commercial real estate and leasing businesses have become
prominent national competitors. Clearly, Jim retires having put in
place an organization that is well-equipped to compete successfully
in our chosen markets." Key
Corporate Finance offers a complete range of financing, transaction
processing, electronic commerce and financial advisory services to
corporations nationwide. It operates one of the largest bank-affiliated
equipment leasing companies in the world, with operations in the United
States, Canada, Europe, Asia and the Pacific Rim. Its commercial real
estate business operates nationally, and ranks as the nation's fifth
largest real estate lender. Across Key's 13-state franchise, Key Corporate
Finance's commercial banking unit has a significant market share with
clients ranging from medium to large corporations. Nationally, Key
Corporate Finance specializes in providing financial services to the
media and telecommunications, technology, and health care industries,
as well as equity sponsors groups. Based on total transaction volume,
it is also one of the nation's leading providers of cash management
services. Cleveland-based
KeyCorp is one of the nation's largest bank-based financial services
companies, with assets of approximately $81 billion. Key companies
provide investment management, retail and commercial banking, retirement,
consumer finance, and investment banking products and services to
individuals and companies throughout the United States and, for certain
businesses, internationally. The company's businesses deliver their
products and services through KeyCenters and offices; a network of
approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU);
and a Web site, Key.com(R), that provides account access and financial
products 24 hours a day. CONTACT:
Media, Gary McManus, +1-216-689-4489, or Analysts, Mike Conway, +1-216-689-8285,
both of KeyCorp ###
################################################ ############ GATX
Corporation Elects Robert Lyons to Vice President, Investor Relations
CHICAGO,
GATX Corporation announced today that its Board of Directors has elected
Robert C. Lyons vice president, investor relations. Mr.
Lyons, 38, joined GATX Corporation in 1996 and has served in a variety
of roles within the company's treasury and investor relations departments.
Brian
A. Kenney, chief financial officer of GATX Corporation, stated, "Bob
Lyons plays a vital role as a key contact point with shareholders
and bondholders. His strong financial knowledge, strategic acumen,
and commitment to the company have enabled him to take on increasing
levels of responsibility. I am pleased that his contribution to GATX
is being recognized with this election to vice president." Mr.
Lyons received his B.S. degree from the University of Wisconsin- LaCrosse
and an MBA with a concentration in finance from the University of
Notre Dame. Mr. Lyons is a CFA (Chartered Financial Analyst) charterholder,
a member of the Association for Investment Management and Research,
and a member of the Investment Analysts Society of Chicago. COMPANY
DESCRIPTION GATX
Corporation (NYSE: GMT) is a specialized finance and leasing company.
It uniquely combines asset knowledge and services, structuring expertise,
creative partnering and risk capital to provide business solutions
to customers and partners worldwide. GATX specializes in railcar and
locomotive leasing, aircraft operating leasing, information technology
leasing, venture finance and specialty finance. Investor,
corporate information and press releases may be found at http://www.gatx.com
. A variety of current financial information, historical financial
information, press releases and photographs are available at this
site.
www.leasingnews.org |
Faxable
lease document 
program
document
|