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Kit Menkin’s Leasing News Friday, January 11,2002





CMC’s Bill Hanson to Return All Advance Rentals

Mid-American Association of Equipment Lessors: 140 Members

eLeasing/American Leasing & Financial

Map of States Participating Streamlined Sales Tax Project----

Leasing News Bulletin Board Support

Flex Lease, Piano, Texas Bulletin Board Up-Date

Nordson Corporation Signs with eMarket Capital

Highlights Equipment Leasing Association Newsletter

Fed chairman visits the Oakland Raiders


### Denotes press release




Sorry Readers, no Leasing News on Monday. Going to the 49er-Green

Bay game at Lambeau Field, Green Bay, Wisconsin and not taking my

laptop with me. 49er needs our support, so we will be there to cheer on

The Niners' to WIN!!! Kit Menkin, editor



CMC’s Bill Hanson to Return All Advance Rentals


Over 113 tuned in to “Meet the Leasing News Maker” on Thursday at 1pm, California time. More than 60 stayed longer than an hour. The first time session was expected to bring 25 to 50 on line, but Bill Hanson of Commercial Money Center had a major announcement.


“We are still experiencing delays and we've decided to give all the advance rentals back to the customer until we are ready to fund in 72 hours, “ he announced. “Starting today and going through next week… UPS starting today”


“We are hoping 30-60 days and all lessees will be contacted to see if they want to move forward with the lease. If they do all broker commissions will be paid, “ he added.


The audience appeared quite surprised.


“Wow!! That is a big announcement! “

[Bill Hanson ANSWERS]

“I have seen many companies in my 20 years not "do the right thing” morally...I think giving back the money is rare” I have seen many companies in my 20 years not "do the right thing” morally...I think giving back the money is rare “


Ironically, September 11 was Bill Hanson’s 62nd birthday.


“It has affected us greatly due to the banks concern about the Insurance companies maintaining their rating, “ he explained. The summer funding was to have been

September 14th, it then was postponed several times to November 14th, and then to December 15th.


“Some transactions that came in June funded in late July, the rest were waiting for the pool in September when tragedy hit...we funded over 100 million through June.”


Hansen fielded many tough and direct questions:


“Is CMC currently not funding transactions and effectively out of business until surety issues are resolved? “

[Bill Hanson ANSWERS]

“Out of business is a strong word, we are far from out of business we are still accepting applications and intend on processing them and funding them

We are returning everyone's advance rentals “



“ So you are still accepting applications? “

[Bill Hanson ANSWERS]

“YES, please support us and we will support the brokers.”


“ Everyone talks about CMC being the last resort, what does the credit look like and roughly what would be the rate “

[Bill Hanson ANSWERS]

“500 fair isaac..closed BK....several NSF's..... released tax liens and judgments.........we have a rate factor renting an apartment .03630 for 64 months… we only have 64 months...we are trying to get our shorter leases back “


“It takes 5 to 6 weeks because we sell the transactions off in pools of 5 to 10 million and this is after all documents are correct “


“ Have faith CMC has shown good faith by returning the advance rentals and they will come through. And CMC in the last 3 and 1/2 years has funded over 300 million.”


“Is the Tampa office going to remain open, I find it very convenient “

[Bill Hanson ANSWERS]


“We have NO current plans of closing any of our offices.”


“Is CMC currently not funding transactions and effectively out of business until surety issues are resolved? “

[Bill Hanson ANSWERS]

“Out of business is a strong word, we are far from out of business we are still accepting applications and intend on processing them and funding them

We are returning everyone's advance rentals “


: “How, exactly, does CMC manage to insure against the obviously risky credits? “

[Bill Hanson ANSWERS]

The performance bond issued by the insurance company guarantees the banks each and every payment to the bank

“Does this mean that ALL companies that have deals waiting for funding will be refunded their advance monies????? “

[Bill Hanson ANSWERS]

“We will start with transaction in funding, when this process is done if we are still under a delay we will then issue the transaction in processing “


“I have heard stories about vendors having to wait for 30 days or longer to get paid, is this due to the nature of your credits or your funding sources “

[Bill Hanson ANSWERS]

“Yes, It takes 5 to 6 weeks because we sell the transactions off in pools of 5 to 10 million and this is after all documents are correct.”



: “What about all the vendors who have delivered equipment 6 months ago? “

[Bill Hanson ANSWERS]

“Good question, we have not given up on being able to fund these transactions and we feel most vendors will be paid We are refunding the lessees advance rentals, but still trying to move forward and fund them as soon as possible”



“How do you suggest we handle the vendors who now have used equipment and no funding? “

[Bill Hanson ANSWERS]

“We're giving you the money back so the lessee can control his or her destiny, while we try our hardest to get it funded ASAP “


“Why would a broker submit a deal if funding is unsure or never? “

[Bill Hanson ANSWERS]

“Your job is to get approvals and we usually only like to look at deals that are headed for your trash can....SO, what's to lose? “


:”What's to loose? Only a good vendor relationship “

[Bill Hanson ANSWERS]

“TRUE TRUE TRUE TRUE That's why you have to be completely honest with your vendor. do you tell your vendor your taking to them to CMC?”


“ How long before all checks are returned?”

[Bill Hanson ANSWERS]

“We are cutting them as we speak”


“Okay, what would you say to a lessee on funding? 30, 60 days, if at all?! “

[Bill Hanson ANSWERS]

“I'd say 30-60 days and that's what the letter will say that’s going to be with the check “


“When you said the advance rentals will be returned does that include the doc fees as well? “

[Bill Hanson ANSWERS]

“No, we plan on funding these deals. Doc's and Quik Trac have been paid and done “


“ If they could make question to you is...Why did you bring them here? By keeping doc and quik trak fees, aren't you holding the lessee's feet to the fire to continue to work with you? “

[Bill Hanson ANSWERS]

“First, we are not walking away from the lease and from our experience these lessees can't”


“Approximately how many advance rentals will you be returning? “

[Bill Hanson ANSWERS]

“All of them “


“Will you fax copy of lessee letter to broker? “

[Bill Hanson ANSWERS]

“We are working on a letter for the broker and the vendor! We want to keep everybody working together! That's what America's all about “


“Since I was there even a "realistic" time frame for the deals that have been in the funding process for several months? “

[Bill Hanson ANSWERS]

“To fund? 30-60 get their money back? 2 to 10 days “



“: Do you have any suggestions as to where to place some of these deals? “

[Bill Hanson ANSWERS]

“Contact me and I will be more than happy in trying to help...1-800-856-0907 “


“What are the odds of you being able to straighten everything out??? “

[Bill Hanson ANSWERS]

“Excellent “


These are only excerpts from the transcript, which is not available to the public.


Here is the “ Meet the Leasing News Maker “ introduction to Bill Hanson:


I have been in the leasing industry since 1982 making me a 20-year veteran.

I graduated from Ottawa University and have a Masters degree from Pittsburgh State. After completing my degree I went directly into teaching and coaching.

I spent 15 years coaching basketball on all levels from High School to

Professional Ball, working in the camp system with the Milwaukee Bucks.


My coaching career came to a screeching halt in my early 30's, under doctor’s advice, after suffering a heart attack in 1973. My passion was coaching,

but my love is my children (I have seven children and 12 grandchildren).

So, the decision was easy to stop coaching with no regrets!


I also thoroughly enjoy the leasing industry and care about the people involved. Leasing is similar to coaching with the aspect of being able to help people and I enjoy watching their business (skills) grow.


I started my leasing career with Heritage Leasing under Ron Wagner

and my life long friend Gil Evans. They sold Heritage to Imperial in 1995.

I decided my skills in leasing were ready to branch out on their own and I started my own company in 1996.


Once I worked out the kinks and started to roll, I brought my son, Ty on board. I know the old saying” that you shouldn't work with friends or family", but it's been a great experience for both of us and I highly recommend it!



In 1999, we sold the company to Commercial Money Center.


Commercial Money Center's goal is to become a one-stop do all leasing company. Right now, we are trying to capitalize the C and D market. Our niche is tying challenging credits in with surety bonds that enhance the transaction so we can sell them off to our banks!


Trying to do the deals the mainstream WON'T can be difficult

and challenging at times, but we are determined to get the challenged

credit deals to fund timely and as simple as A B C!

Bill Hanson


Leasing News is Planning the Next “Meet the Leasing News Maker” January 17th, Thursday, 1pm, California time (if readers on the East Coast, particularly, have a

better day and time suggestion, please let us know: ).







Mid-America Association of Equipment Lessors 140 Members


Sorry for the delay and abridged information but I am traveling until Monday

at which time I intend to give you more information on the MAEL.


Membership is approximately 140 as of 12-31-01.


Dues were $150 plus a $50 application fee (for new members) last year and

will be $300 with no application fee (for any members).


Our 2001 Annual Meeting was cancelled on 10-11-01 (because of 9-11 as it was

to be in the Sears Tower). We believe we will combine last years meeting

with our highly successful MAEL Invitational and Warm-Up Weekend scheduled

for May 18-20, 2002 in Chicago. We had over 300 participants and sponsors

in attendance last year at the leasing industry's largest golf related

networking event. The 2002 Annual Meeting will be held in October in a

smaller building or hotel in Chicago and we expect to have at least 200 in



Best regards,


Clyde D. Cady


Facility Capital

333 West Wacker Drive

Suite 1750

Chicago, IL 60606

312.541.6000 phone

312.541.1275 fax

312.399.9335 mobile



eLeasing/American Leasing & Financial


Several people have recently called me, including Barry Marks, to apprise me that lots of people are asking who the heck we are. If you will recall, the late Adrian Bulman and I were partners in American Leasing & Financial, Inc., Atlanta, GA.


For information, if any interest to anyone, I have formed e-leasing, Inc., and have moved to Sarasota, FL. I am doing the same types of deals we did at American. Phone is 941-388-0160, fax 941-388-0170.


I have not been receiving your newsletter recently so please update your records for this e-mail address and feel free to share the address with anyone but the Taliban.






Michael Losey


(In addition to the year-end membership total, new dues, if any, we are also

trying to up-date our eLease section ranking of such companies. There were

also several readers who wanted to know what had happened to your company,

so I am glad you responded. Editor)




Map of States Participating Streamlined Sales Tax Project----


States participating in the Streamlined Sales Tax Project and Implementing

States are featured in the following map produced by the Council On State

Taxation (COST). Representing 530 multistate corporations, COST seeks to

preserve and promote equitable nondiscriminatory state and local taxation of

multijurisdictional business entities. The appointment of COST Tax Counsel

Stephen Kranz, Esq. as the Delegate to Implementing States from the District

of Columbia has been one of the successes gained by the private sector.


Dennis Brown


Equipment Leasing Association




Leasing News Bulletin Board Support


I want to respond to objections of answering complaints of industry peers.

As a funding source we have set programs for our brokers. When they don't

work and there are questions as to why they don't work we are obligated to

respond. No response brings suspect. Defensive response brings questions

as to what is being hidden. We should not be afraid to present the facts

unless we are hidding something. I will state again we all need to work

together to keep our industry clean. If we prospect openly for brokers we

should be ready to respond openly to questions. Kit, again I applaud you

for your commitment to providing a great industry contact tool in the

Leasing News. Keep up the good work.


John Gallo

M & C Leasing Co., Inc.




Thanks to you again for the valuable service you provide to our

industry...your clearinghouse of information continues to offer at least

some protection to the finance industry and its clients from the scams and

shams which will always be just around the corner. The nefarious business

practices of some within our leasing/finance family often ends up smearing

us all with disdain and skepticism in the eyes of our clients and it should

anger us all at least a little bit.


However, while the likes of a Jeff Wetter/Flex Lease do cause me to flinch

when I see the response of a client or vendor who has been bruised badly by

sub-par business practices and/or sewer-level ethics, it certainly can and

often does open some doors for ethical finance companies to present to both

clients and vendors valid, verifiable references of stellar performance and

positive relationship patterns which can have been proven over many certainly does pay in the long run to just do it the right way

from day one and stay with that path!


It seems to me that Mr. Wetter needs no outside assistance from you or

anyone else to "defame" his business....all he has to do is keep talking to

people on the phone, projecting anger against others to deflect from

discussion of truth and/or emailing Leasing News with threats of destruction

by lawsuit and he will soon close his own "defame" deal!


Best wishes to you and your team in 2002!


God bless,


Larry B. Turner

Vision Capital Corporation






Flex Lease, Piano, Texas Bulletin Board Up-Date



Flex Leasing, Piano, Texas Pays Half


As it stands, our client paid us, on December 19, in full for the

software due to this situation. She said I would be receiving 100%

funding from Flex Lease anyway. At that point I am to refund her in



I called her yesterday, prompted by your email; however, I could not

reach her. She is quite busy as she has just gone live with her new

software. I have since learned (today) that Flex Lease has paid her 50%

and will fund us the other 50%.


I have not heard again from Mr. Wetter or anyone from Flex Lease to this

date nor have we received payment from Flex Lease. I will keep you

abreast of the details as this progresses.


Thank you for attempting to assist us in this matter.


Best Regards,


Alicia Paul

Office Manager

SimCrest, Inc.





Thank you for publishing the complaint and my response as I've written it. Hopefully others will adopt a "none of your business" response to inquiries. Maybe not though, time will tell.

Also, you refer to us repeatedly as Flexleasing. We are not Flexleaing, we are Flex Lease. Flexleasing is a unrelated company out of Albuquerque owned by Chuck Griffith (they may be out of business, I am not sure). I think you owe it to Chuck to publish a clarification.

Please publish this entire e-mail.

Thank you.

Jeff Wetter





Thank you.


Jeff Wetter




Chuck is out of business. I did an exit interview with him, and we reported

that here at Leasing News.. It is also on the List

“(a subsidiary of Griffin and Associates),Albuquerque, New Mexico (4/2001) Merger falls apart, Chuck decides to take early retirement. (3/2001) closing office, to merge with another company, "announcement soon," say Chuck Griffin “


We are an industry electronic newspaper and web site. We have been requested by readers to put alerts and complaints on line. We try to be fair by giving both sides. Many of the complaints are settled before going to the bulletin board, as newspapers are also “ombudsman.”


Our readership grows each day because the readers want to know what is happening in their industry.


I meant Flex leasing, abbreviating it, but to clear up any confusion,

we have corrected the on line version, the bulletin board posting, and

re-print it now to fulfill your request.


Kit Menkin editor/publisher


Flex Lease, Plano, Texas Board Complaint January 10,2002


December 18, 2001


Our client (name withheld) has completed documents with Flex Lease in

Plano, Texas. On the go-ahead of Jeff Wetter, President of Flex Lease, we

ordered and installed the software expecting payment upon installation.


We have been calling him since December 5 for this payment that is due

to us. He rarely returns calls or emails but the few times he has

called was to give us three false promises of payment dates. Last

Wednesday he told us the check would be delivered to us on Monday

(Yesterday). I called twice on Friday to confirm that everything looked

good, but he didn't return my calls.


I called three times yesterday; leaving voice mails, and sent a follow

up email. He didn't take or return any of my calls yesterday or send me

a reply email. I see he checked email on Friday and even replied to

someone on your site on Friday. He appears to be avoiding my emails and

phone calls.


I called him this morning; I had to leave another voice mail, and told

him I would advise our client if I didn't hear back from him by noon.

Noon has come and gone. I advised my client that she would be liable for

the payment because Flex Lease is not returning calls or sending a

check. She in turn has called him and he didn't pick up the phone for

her either. I just spoke with her and he hasn't returned her call yet,



What do you know about this company? Do they fund the leases

themselves? Are they always so evasive? This is our first and only

encounter with this company. I know we will never work through them

again because of their lack of enough professionalism to return a phone

call or fund a check for that matter.


Just to let you know, I've tried his assistant Janie each time also in

case he was just busy, except yesterday and today. But with the

pattern, it just appears he is choosing not to take or return my calls.


Best Regards,


Alicia Paul, NCR

Office Manager

Sim Crest, Inc.

12222 Merit Dr., Suite 1850

Dallas, TX 75251



Leasing News attempted to contact Flex Lease, Plano, Texas to confirm, deny, or explain their side of this complaint. We sent several e-mails. Here is one of them:


Re: Bulletin Board Complaint


We started this process with this complaint and have been trying

to resolve this as it appears to be a legitimate complaint.


If they have delivered and installed and the lease was signed off

on December 5, they are concerned when they will be paid.


I don't know if you are a broker on this and it was assigned elsewhere,

but am trying to resolve this peaceable.



We next received.

December 20,2002


I heard back from Jeff Wetter, Flex Lease, today. Here is an overview of

our conversation.


He was less than professional, again. He asked me why I was harassing him.

I said "I will not take blame for your lack of communication.", he said

"shut up and let me say one damn thing." I said, "You will not address me

like that." Then he raised his voice and said quite nastily, that we are

the lowest on his list of priorities now and he doesn't t intend to give us

payment any time soon nor does he care if we get payment at all. I told

him, "Do not raise your voice at me. It's this whole lack of

professionalism that is seeing to the fact that you will never work with us

or any of our clients again." He said, still in a loud voice, "I don't give

a damn! You listen to me!" I said, "Who do you think you are? I will be

hanging up now." Click.

I m really interested in knowing what you know about this person and this

company. In the five years that I have worked with leasing companies to

finance software for my clients, I ve never even once had an experience like



Best Regards,


Alicia Paul

Office Manager

SimCrest, Inc.;


Leasing News continued to follow this, asking for a comment to the Bulletin

Board Complaint.


In following up the original complaint, we informed Flex Lease, Plano, Texasing that we were going to state they had "no comment". in the Bulletin Board Posting:


January 10


You obviously feel very empowered in your position. Once again, for the

record, my comment/response to the vendor's complaint is that I do not

comment to I feel that it is none of's

business. Any of your reader's are welcome to e-mail me if they would like

my side of this complaint. This is my comment, do not print that I have no



All you have to do is print the vendor's complaint then state, "Jeff Wetter

at Flex Lease stated that he does not comment to as he feels

it is none of our business. He stated that readers can e-mail him directly

if they would like his side of the complaint". There, I've written it for

you. Please publish it like this. Couldn't be easier for you.


I you publish the complaint then state that I have no comment, your readers

will interpret this as a defacto admission of guilt on my part. This will

harm my business and my reputation. My competition will use the article

against me to win lessees and vendors we both compete for. Please don't do

this to me.


Why are you so afraid to print that I do not comment to

Afraid of others doing the same? Afraid of losing illegitimate power?


I have saved every e-mail between us. They make it very clear that I have

told you repeatedly what my comment and response to your inquiry is. If you

publish the complaint then state that I have "no comment" as you say you

intend to do, I will sue you for intentionally attempting to defame my



Thank you.


Jeff Wetter






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


Nordson Corporation Signs with eMarket Capital for Equipment Financing

Innovative Web-Based Program Streamlines Customer Financing Process


(King of Prussia, PA– eMarket Capital ( announced today that it has signed an agreement with Nordson Corporation, the world’s leading precision dispensing systems manufacturer, to make its proprietary on-line financing support available to Nordson customers. eMarket Capital is a Web-based service that facilitates the financing of capital equipment for manufacturers of consumer and industrial products.


"eMarket Capital’s experience in providing convenient and flexible financial

solutions to customers was key to forming this partnership," stated Ray

Cushing, Nordson Treasurer.


"Innovative on-line and off-line application and information management

solutions will allow our customers to quickly choose between competitive

proposals from multiple matched lenders," Cushing added.


Based in Ohio, Nordson Corporation’s products are used worldwide in the

appliance, container, converting, electronics, food and beverage, furniture,

medical, metal finishing, nonwovens, packaging and pharmaceutical industries.

Nordson markets its products through a direct operations network in 31

countries; more than 50 percent of the company’s revenues are generated from

operations outside the United States.


"Nordson represents the best in their market segments on a global basis,"

said Dean Stolberg, eMarket Capital Vice President. "We look forward to a

mutually beneficial partnership with this manufacturing leader."

How eMarket Capital Works


eMarket Capital provides private-label financing services that help

manufacturers finalize more transactions by making competitive financing

available to their customers. The company establishes a customized financing

Web site for each client. Each site is operated under the manufacturer's

brand name and includes a limited number of lenders who are experienced in

equipment financing and who can collectively cater to a broad range of credit

situations. 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.


Customers fill out an on-line or faxable application, then receive multiple

offers from selected program lenders. Offers are submitted to the customer

in a format that simplifies the process by 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.


Additional information can be obtained at or by

calling 1-800-994-4369.






eMarket Capital Corporate Fact Sheet


Headquarters 681 Moore Road, Suite 321

King of Prussia, PA 19406

Telephone: 610-354-8820

Fax: 610-354-8835


Web site:




Ownership eMarket Capital is a privately held company founded in 1999 by a

group of leasing industry veterans led by Jonathan Moran, formerly with GE





eMarket Capital provides customized, private-label, Internet-based

leasing services to equipment manufacturers. Manufacturers who use our

services can offer competitive lease financing to their customers through

private bid auctions among a limited number of carefully selected, highly

motivated lenders.


Providing competitive leasing services to their customers means that

manufacturers can close deals faster while providing a higher level of

customer satisfaction.


Lenders benefit, too, because they see a continuous flow of qualified deals

at a lower-than-normal acquisition cost.


The company has been beta testing its sites since July 2000 and released the

second version of its proprietary software in December 2000.



Markets eMarket Capital serves manufacturers that sell equipment valued at

$5,000 to $1 million. Leases in this amount are best suited to the quick

turnaround nature of the Internet. While the company serves manufacturers in

many industries, it has a special focus on medical equipment and industrial




What Sets eMarket Capital Apart eMarket Capital provides private-label

services, giving manufacturers an opportunity to extend their brand by

providing a valuable customer service


eMarket Capital does not charge manufacturers for its services; we are

compensated by the lender when a deal is closed.


eMarket Capital provides information on lease offers on an "apples-to-apples"

basis. Customers see bottom-line information on Annual Percentage Rate (APR)

and Net Present Value (NPV) -- information that is usually not available for

any lease.


eMarket Capital limits the lenders on each site in order to give every lender

a reasonable chance to win business. This limited market provides an

incentive to lenders to offer their best price, since there is a good chance

they’ll win the business. Limiting the lenders also makes it possible for

manufacturers to monitor lender performance closely.


Although eMarket Capital’s business is conducted over the Internet, we

provide a strong customer service component, from training the manufacturer’s

sales staff through assisting the customer during the application and

throughout the transaction until it is concluded.



Manufacturer Partners Applied Sweepers, Barco, Barco Graphics, Carrier

Corporation, Daewoo Heavy Industries America, Gerber Coburn, Gerber

Scientific, Gerber Technologies, Gerber Innovations, Grove Worldwide, Harris

Waste Management, HPM, JLG Industries, Inc., Kern International, Inc., LECO

Corporation, Nordson Corporation, Omni Science, Van Dorn Demag, Vision

Partners Inc.




Lender Partners American Capital Leasing, Amresco, ATEL Financial, Butler

Capital, Empire Leasing, Equilease, Fleetwood Financial, Marlin Leasing,

Mellon Bank, Leasing Technologies International, Premier Capital Group

Standard Professional, Spectrum Medical, Summit Bank


Manufacturer Contact Dean Stolberg, Vice President of Business Development

610-354-8820, ext. 239



Lender Contact Dan Murphy, Secretary/General Counsel

610-354-8820, ext. 229



Investor Contact Jonathan Moran, President & CEO

610-354-8820, ext. 225


Media Contact Pamela Rosser Thistle, Pamela Rosser PR


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



Highlights Equipment Leasing Association

“ Members Only “ Newsletter



ELT E-Leasing Newsletter 1/10/02



The Equipment Leasing Today E-Leasing Newsletter is published every Thursday

and is sponsored by the Equipment Leasing Association and its co-sponsor. To

Get Full-Text Stories, go to the web page associated with the story you wish

to read. The links to news stories require an ELA MEMBERS-ONLY NAME AND PASSWORD. To receive a password, please contact Daniel Aubain at or phone 703/516-8377.


NOTE: Address change/unsubscribe instructions and contact information can be

found at the end of this e-mail. If you received this e-mail (but it was NOT

forwarded to you by someone else) you are ALREADY subscribed.



*********** The E-Leasing Newsletter is SPONSORED by: **********


Recovery and Remarketing Specialists

1(800)462-7728 or 1(800)4-NASSAU

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via Web *Highest resale prices Call Nassau now for a complete assessment of

your needs!!!



1. Industry Logs On To ELA Online State Tax Manual


Over 350 people accessed the new 2002 ELA Online State Tax Manual in the

first three days following its debut. Kim Holland of EPLUS reported "I went

on the website to check it out. This is much better than on CD ROM." Shari

Lipski, CLP, at Edwin C. Sigel, Ltd. remarked "Great site! It's very easy to

navigate." A free member benefit, this reference guide is designed by Vertex

to aid leasing companies in tax compliance and planning with a comprehensive

state-by-state analysis of sales and property taxes.


To view the 2002 ELA State Tax Manual, please visit



************* The E-Leasing Newsletter is sponsored by: *************

AssetControl Corporation

Your full service asset management company.

Including: Recovery, Remarketing, Appraisal, Inspection, & Auctions

1(888)227-0444 email:




10. ELA Allies With the National Vehicle Leasing Association


Have you considered expanding into vehicle leasing, either as a lessor or

providing funding to independent vehicle lessors? If so, you may be

interested in a new alliance ELA has signed with the National Vehicle

Leasing Association (NVLA). ELA and NVLA have agreed to cross-market

products and services to each other's members. ELA members are now able to

attend NVLA events and purchase products at NVLA member prices. NVLA

represents over 400 vehicle lessors, banks, dealerships, and suppliers of

goods and services to the industry.


To find out more about the vehicle leasing business, please visit




11. ELA Streamlines its Primary Business Survey


To make responding easier for its members, ELA recently decided to

streamline its annual Survey of Industry Activity. The annual survey

collects, analyzes, and reports useful industry benchmarks for virtually

every key financial and performance metric used by ELA members in their

businesses. The 2002 Survey of Industry Activity is managed by

PricewaterhouseCoopers to maintain confidentiality of the data.

One of the objectives sought by the association's Research Committee and the

PwC survey experts during their biannual meeting in December was to make the

survey more user-friendly for respondents and, thereby, increase the number

of companies participating in the study. The length of the 2002

questionnaire was dramatically shortened. At the same time, only critical

information was retained. Your participation in this survey means better and

more reliable data! This will enable users to access a more robust database

as they employ an interactive version of the survey to perform web-based

customized breakouts of the information.


An additional improvement made by the association was the segmentation of

the respondent base. During the upcoming survey cycle, all member companies

with annual volumes in excess of $100 million will receive the more

comprehensive questionnaire, while those under $100 million will receive an

even more pared down version. Both sets of questionnaires will be mailed to

the ELA membership in mid-February.


Questions regarding this project may be directed to Cecilia Beverina of the

ELA, (703) 516-8380.




12. Where Can You Find 45 Industry Service-Providers in One Place at One



At the February 10 -12 ELA Equipment Management Conference and Exhibition,

where companies providing remarketing and appraisal services, asset tracking

programs, and equipment recovery services, among others, will be on hand to

show their stuff. In addition to a sold-out exhibit, the conference offers

industry updates to help asset management professionals of all stripes

thrive and prosper in an otherwise "arid" economic climate. Thus, the theme,

"Asset Management: Finding Water in the Desert."


To learn more about the conference and to register, visit or call ELA at (703)





13. Do You Have a Winning Marketing Strategy?


Take this quick marketing test: Is your marketing strategy still relevant?

Are you still positioning your company as you did 5 years ago? 10 years ago?

Can you describe the value you bring to the marketplace? What do you want

your customers - or potential customers - to think of when they hear your

company name?


The environment in which leasing companies are operating today is very

different from only a few months ago. If the questions listed here are

keeping you up at night, then you or a member of your team must attend Do

You Have Winning Marketing Strategy? scheduled for March 11-13, 2002 at the

Ritz Carlton Hotel, Philadelphia, Pennsylvania. The conference is jammed

packed with valuable information from leading experts from both inside and

outside the leasing industry. Included on the podium is Duane Knapp, author

of the best-selling book, The Brand Mindset, who will help attendees think

and act like a genuine brand.


For more information and to register, please visit




14. January Quick Poll


How important is establishing a standardized equipment classification system

to your leasing and finance business? Very important, somewhat important, or

not important.


Let us know!!




15. ELA Calendar of Events: Plan your Professional Development for 2002


Please visit ELA's 2002 Calendar of Events online at


Plan your annual professional development now by viewing all the conferences

and workshops that ELA has to offer. Agendas and registration forms are

already on line for many conferences. If you have any questions about any of

ELA's conferences and workshops, please contact Jeanne Lund at


February 10-12, 2002

Equipment Management Conference

Marriott Desert Springs Resort, Palm Desert, CA


February 12, 2002

Achieving Customer Satisfaction through World Class Service

Philadelphia Marriott, Philadelphia, PA


March 4-5, 2002

ELA Annual Investors Conference

Essex House, New York, NY


March 11-13, 2002

Do You Have a Winning Marketing Strategy?

Ritz Carlton, Philadelphia, PA


March 17-19, 2002

Executive Roundtable

The Villas at Grand Cypress, Orlando, FL


March 18-20, 2002

Principles of Leasing Workshop

Hyatt Harborside, Boston, MA


April 8-10, 2002

Principles of Leasing Workshop

Philadelphia Marriott, Philadelphia, PA


April 8-10, 2002

Principles of Leasing Workshop

Marriott Fisherman's Wharf, San Francisco, CA


April 9-10, 2002

Capital Hill Day

Washington Court Hotel, Washington, DC

April 14-16, 2002

Captive & Vendor Leasing Conference

The Registry Resort, Naples, FL


April 22-24, 2002

National Funding Exhibition

Fairmont Hotel, Chicago, IL


May 5-7, 2002

Large Ticket Conference

LaCosta Resort & Spa, Carlsbad, CA


May 5-7, 2002

Legal Forum

Fairmont Hotel, Chicago, IL


May 6-8, 2002

Principles of Leasing Workshop

Hilton Northbrook, Northbrook, IL


June 9-11, 2002

Credit & Collections Management Conference & Exhibit

Hyatt Regency Hill Country, San Antonio, TX


June 16-18, 2002

Integrating e-Business Solutions

Philadelphia Marriott Hotel, Philadelphia, PA


June 17-19, 2002

Tax Executives Roundtable

Ritz Carlton, Philadelphia, PA


June 17-19, 2002

Principles of Leasing Workshop

Hyatt Regency Baltimore, Baltimore, MD


July 15-17, 2002

Principles of Leasing Workshop

Hilton Kansas City Airport, Kansas City, MO


September 9-11, 2002

Lease Accountants Conference

Mayflower Hotel, Washington, DC


September 9-11, 2002

Principles of Leasing Workshop

Pittsburgh Marriott City Center, Pittsburgh, PA

September 25-27, 2002

Municipal Leasing Conference

Westin Tabor Center, Denver, CO


October 7-9, 2002

Principles of Leasing Workshop

Hilton Northbrook, Northbrook, IL


October 13-15, 2002

41st Annual Convention

San Francisco Marriott, San Francisco, CA


October 22, 2002

Fundamentals of Credit Workshop

Philadelphia Marriott, Philadelphia, PA


December 2-4, 2002

Principles of Leasing Workshop

Embassy Suites, LaJolla, CA


December 9-11, 2002

Principles of Leasing Workshop

Philadelphia Marriott, Philadelphia, PA


For more information on the events listed below, or to view ELA's entire

calendar, visit the ELA Conference & Training Home Page at and click on the links to programs of

interest to you.


Submit your own company news story for ELA'S E-LEASING NEWS! Visit




For more leasing news, visit ELA Online's News Home Page at



To update your current subscription, please e-mail your name, company,

and the e-mail address to Daniel Aubain at or

phone 703/516-8377. Fax: 703/527-2649. To unsubscribe, please visit If you have

other questions or comments relating to ELA E-Leasing Newsletter, please

e-mail Amy J. Miller, Vice-President of Communications, at


This newsletter is free to ELA members. Forward it to a co-worker!

Copyright 2001 by the Equipment Leasing Association

Phone: 703/527-8655 Fax: 703/527-2649



Fed chairman visits the Oakland Raiders



San Jose Mercury News


Not far from Jack London Square in Oakland on Thursday, near Network Coliseum where the Oakland Raiders play ( 4 points favored to beat the New York Jets), a grass-roots group that battles for the poor will play host to its most prominent speaker yet: Alan Greenspan, chairman of the Federal Reserve Bank.

It's not your typical audience for the top banker and reputed second-most powerful man in the nation, who is normally found addressing Congress or business leaders.


The group -- the San Francisco-based Greenlining Institute -- has even criticized the Fed for past rate hikes and ignoring CEO pay inflation. It once took out full-page ads taunting, ``Who's Afraid of Alan Greenspan?''

The speech is part of the central bank's efforts to step up education of the public on financial matters, especially the role of the Federal Reserve in the economy. It turns out that, in addition to dealing with highfaluting issues such as globalization, the Federal Reserve has a little-known mission to spread the gospel of financial literacy -- the topic of Greenspan's speech.


So is the chairman at heart a man of the people? Yes, he even talked to an Oakland Raider while here.


``My take is, he believes in the same things we believe in, but he's hampered by his position in what he can say,'' said John Gamboa, executive director of the Greenlining Institute, a coalition of advocates for low-income consumers and minorities. Greenlining is a play on the word ``redlining,'' the criticism that some banks and insurance companies draw red lines around areas where they choose not to do business.


Many of the people showing up today aren't ardent students of monetary policy. Normally the chairman talks about upper-class concerns, said Guadalupe Gutierrez, a community worker in Parlier.


But ``a lot of people are affected by the things that he does or says, and he needs to see the whole community and the whole picture,'' said Gutierrez, who plans to represent the Mexican American Political Association at the speech. ``There's a lot of learning that he needs to do, but I appreciate he's willing to work with the people.''


Greenspan -- who returns to a more typical constituency today with a speech to the business group Bay Area Council in San Francisco -- is on the record about the need for the Fed to educate consumers.


``The central bank depends on the trust and confidence of the citizenry,'' he said in a June 2001 speech at the launch of a consumer education outreach center at the Chicago Federal Reserve. ``To earn and maintain that trust, the Fed must communicate to people about what we do and why we do it.''


The Fed launched an interactive Web site last September nicknamed Fed101, which covers the basics of the central bank's role and its impact on the economy. It can be found at


And in the Consumer Information segment of the Fed's normal Web site,, consumers can link to pieces such as ``ID Theft: When Bad Things Happen to Your Good Name'' and ``Building Wealth.''

However, don't expect a chatty Jane Bryant Quinn-like personal-finance lesson from Greenspan.


His last speech on financial literacy, before Chicago's National Council on Economic Education last October, was hardly a barn burner. Among the most sizzling passages: ``For this ever-more complex financial system to function effectively, widespread dissemination of timely financial and other relevant information among educated market participants is essential.''


Still, getting Greenspan is clearly a bit of a coup for Gamboa. Other grass-roots groups are green with envy.


``We've never had him; I think that's amazing,'' said Jack Gillis, spokesman at Consumer Federation of America.


``It's fairly uncommon for him to meet with any advocacy groups,'' marveled Chris Saffert, legislative director of ACORN, a housing-advocacy group, which has met with three other Fed officials but never the chairman himself.


Although Gamboa has blasted Greenspan in newspaper editorials over rate hikes and a failure to curb CEO salary inflation, he calls Greenspan a ``pro'' who cares about low-income consumers. Gamboa said his meetings with Greenspan about twice a year have contributed to some minor improvements to the Community Reinvestment Act.


``I believe we've had a subtle influence on him,'' said Gamboa, who recently ended a stint on the Federal Reserve's official Consumer Advisory Council.


The chairman says he won't talk about predatory lending because he must be very careful in his position, according to Gamboa. However, ``he alludes to it sometimes for us,'' Gamboa said.


As for those critical ads in the New York Times, Gamboa said Greenspan has ``a developed sense of humor.'' He better -- today's fundraiser is the group's primary source of money for such ads.


The septuagenarian chairman apparently boasts that he and his equally mature partner could easily beat 60-year-old Gamboa and 65-year-old Robert Gnaizda, Greenlining's general counsel, on the tennis court.


Gamboa said Greenspan showed that same flash of humor when Gamboa introduced him to a Hmong community leader in Fresno on a 1996 visit. The leader wanted to know if Greenspan's bride-to-be, TV journalist Andrea Mitchell, would be taking his famous surname.


``You know, we're in negotiations,'' Greenspan said with a straight face. ``But right now it looks like I'm going to have to take hers.''


The Associated Press reported the Summit in Oakland:


Discriminating against minority groups in lending decisions hurts the economy and the financial institutions that engage in such practices, Federal Reserve Chairman Alan Greenspan said Thursday.

"Investors and lenders need to understand that failure to recognize the profitable opportunities represented by minority enterprises not only harms those firms, it harms the lending institutions as well," Greenspan said.

In his remarks to an economic development summit in Oakland, Calif., Greenspan said that minority groups had made progress in increasing their home ownership rates and the percentage of businesses that they control. But he said more needs to be done for the benefit of the economy as a whole.

"To the extent that market participants discriminate, consciously or more insidiously, unconsciously, capital does not flow to its most profitable uses, and the distribution of output is distorted," Greenspan said. "In the end, costs are higher, less real output is produced and national wealth accumulation is slowed."

Greenspan said it was essential for the country's future economic prosperity that efforts be increased to stamp out discrimination in lending practices both to individuals and to minority-owned businesses.

"We must make further progress in establishing business relationships between the financial services sector and the rapidly growing number of minority and women-owned businesses," Greenspan said in the speech, copies of which were released in Washington


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