Kit Menkin’s Leasing News www.leasingnews.org Tuesday, January 15 ,2002

 

Headlines----NAELB Membership Down 30%

Comdisco to Sell 2 Leasing Businesses to GE Capital

Internet Business Int. & Return Assured Talk Falls Apart

CapitalStream Announces New Chief Operating Officer

TIB To Offer BancPartners’ Private Label—New Funding Sources

De Lage Landen Financial Services names Pat Neary VP Sales

Glut of Used Cars on the Market Place Due to Zero % Interest

 

More Nigeria E-Mail

 

### denotes press release

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National Association of Equipment Leasing Brokers Membership Down 30%

 

We had about 415 NAELB members in 2001 Dues fees did not increase.

 

Maria Turner

Meetings & Membership Manager

NAELB Headquarters

5024- R Campbell Blvd.

Baltimore, MD 21236

800-996-2352 tele

877-875-4750 fax

 

 

December, 2000 membership was reported as 475. June, 2001 598

 

Leasing News is working on up-dating all association membership and dues

with a full report when completed.

 

http://www.leasingnews.org/DuesComparison.htm

 

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CapitalStream Announces New Chief Operating Officer

 

Commercial finance automation leader promotes Jeffrey S. Dirks to oversee operations groups

 

Seattle, WA - - CapitalStream (www.CapitalStream.com) a Seattle-based provider of patent pending, commercial finance automation technology for banks, financial institutions and manufacturers today announced the promotion of Jeffrey S. Dirks to the position of Chief Operating Officer. As part of the promotion, Dirks will now oversee CapitalStream's client services, product management, product development and all other operational responsibilities. Dirks brings more than 15 years of operations management, software engineering and enterprise project management to the position.

 

"Given the significant growth of our business we have consolidated our key operational elements under Jeff," said Stephen Campbell, president and CEO, CapitalStream. "Jeff's team is responsible for new product capabilities, implementation, and customer service. His group will strengthen our leadership in providing technology solutions for the lease financing and financial service industries."

 

Dirks has led product technology at CapitalStream for more than three years, first as Vice President of Product Technology and most recently at Executive Vice President and e-Commerce Operating Officer. He has been integral in the evolution of CapitalStream's FinanceCenter* solution, working closely with customers like Bank of America, Merrill Lynch and Siemens Financial Services.

 

Prior to joining CapitalStream Dirks worked throughout the financial software industry as Vice President of Product Deliver at HK Systems, Vice President of Engineering for Endura Software, and Director of Consulting for FourGen Software as well as working as an engineer for IBM. Dirks earned a Bachelor's degree in Computer Science from the University of Washington.

 

About CapitalStream

 

Seattle-based CapitalStream automates and streamlines commercial finance processes for banks, finance companies, and manufacturers. CapitalStream - FinanceCenter*, a patent pending technology, reduces processing time, lowers costs, and enables companies to cost effectively take advantage of new business opportunities by automating manual processes for leases, loans, lines of credit, and credit cards. CapitalStream, an established industry leader for more than six years with deep knowledge about the inner workings of the financing world, has helped hundreds of financial organizations increase their competitiveness, customer service and profitability.

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

 

 

ANNOUNCEMENT

 

To bring the Classified Ad section into conformity, except for “Job Wanted”,

effective January 1, 2002, the placement of the ad requires membership

in an equipment leasing association.

 

The purpose of this is to insure that the company follows the code of ethics

and standard of conduct as required in membership to a professional leasing

association. This policy also re-emphasizes our belief in the benefits

of joining a lease association.

 

This new policy does not apply to individuals seeking employment.

 

___________________________________________________________

 

Letter from the Editor

 

“Striking it Rich—the rise and fall of popular capitalism.”

 

If you can find a copy of the January 14th, New Yorker magazine,

I highly recommend this article by John Cassidy, starts on page 62.

 

Lambeau Field, Green Bay, was a lot of fun, except the 49ers did not

win. The people are extremely friendly, helpful, and very nice. All

the Packer fans where we were tailgating near offered us food, beer, bloody

Mary’s, help, and were very glad to see us. We made many friends. People who

will visit us at Candlestick next season.

 

And these Packers know how to tailgate, believe me!!!

 

We had dinner the night before at Bret Favre’s Steakhouse, met some Packer players, Farve really eats here, and after winning a game, has a dinner for

his team mates, which is the talk of the fans. Dinner is a two hour wait unless you get their at 4:30pm or 5pm as we did, and only had a 45 minute wait ( so met many people in the bar). Had a booth. Food was fantastic. More than you can eat. Great service; outstanding. And I ordered Duckhorn Merlot from the menu, so I was very, very happy with my Prime Rib Bret Favre cut. This is a great restaurant.

 

I would recommend staying at the Hilton next door, as it looked more

convenient, although we liked the Regency downtown. Most of the people on the plane were Packer fans flying in from the Bay Area ( they come from all over the United States, not just Green Bay ). In our section, the 50 yard, eleven rows

up from the 49er bench, we were the only Niners around. In fact, when I walked into the stadium wearing my hat with pins and leather jacket, Mariucci waived to me from the field ( we were the only 49ers on this side and pre-game he saw us walking to our seats ). It snowed the day before and on the way back we had to have the plane de-iced, but the day was relatively warm. Also they serve beer in large mouth plastic bottles through the game to your seat. And they tail gate afterwards, as leaving everyone wanted to give us condolences and invited

us to stop and have a drink or eat some food. The great small town atmosphere was everywhere. What a great group of people who live in Wisconsin and the surrounding area.

 

Kit Menkin, editor

 

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

 

Comdisco to Sell Two Leasing Businesses to GE Capital Commercial Equipment Financing

ROSEMONT, Ill--Comdisco (NYSE:CDO)

 

-- Agreement Reached to Sell Electronics and Laboratory & Scientific Units

-- Court Hearing to Approve Transactions Scheduled for January 24, 2002

-- Company Expects to Complete Evaluation for Other Leasing Businesses by

January 31, 2002

 

Comdisco, Inc. (NYSE:CDO) announced Monday that it has agreed to sell its Electronics and Laboratory & Scientific leasing businesses to GE Capital's Commercial Equipment Financing unit. GE Capital is the financial services unit of the General Electric Company (NYSE:GE). The agreement is subject to approval by the U.S. Bankruptcy Court for the Northern District of Illinois at a hearing scheduled for January 24, 2002.

Under the terms of the agreements, GE Capital Commercial Equipment Financing will pay Comdisco approximately $665 million, with future contingent payments based on various portfolio performance criteria. The consideration includes the assumption of related secured debt. If approved, the sales are expected to close by no later than March 31, 2002.

 

Comdisco also said that, as part of its comprehensive evaluation process to maximize business enterprise value for its stakeholders, it expects to complete its evaluation of its remaining Leasing businesses

 

-- Information Technology (IT), Telecommunications and Healthcare -- by January 31, 2002. The company said it received bids for all of the business units during the Court-supervised auction process that concluded in December 2001, and that all of the bids must stay open until January 31, 2002.

 

Norm Blake, Comdisco's chairman and chief executive officer, said, "The board concluded that the consideration offered for the Electronics and Laboratory & Scientific assets represents the highest value we could expect to receive and we are confident that these businesses and their customers will benefit from the unparalleled reputation and tremendous resources of GE Capital Commercial Equipment Financing. With respect to our other equipment leasing businesses, we expect to conclude our review by January 31, 2002."

 

Comdisco, Inc. and 50 domestic U.S. subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Illinois on July 16, 2001. The filing allows the company to provide for an orderly sale of some of its businesses, while resolving short-term liquidity issues and enabling the company to reorganize on a sound financial basis to support its continuing businesses. Comdisco's operations located outside of the United States were not included in the Chapter 11 reorganization cases. All of Comdisco's businesses, including those that filed for Chapter 11, are conducting normal operations. The company has targeted emergence from Chapter 11 during the first half of 2002.

 

About Comdisco

 

Comdisco (www.comdisco.com) provides technology services worldwide to help its customers maximize technology functionality and predictability, while freeing them from the complexity of managing their technology. The Rosemont (IL) company offers leasing to key vertical industries, including semiconductor manufacturing and electronic assembly, healthcare, telecommunications, pharmaceutical, and biotechnology. Through its Ventures division, Comdisco provides equipment leasing and other financing and services to venture capital backed companies.

 

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

 Internet Business International and Return Assured Decline To Pursue Merger

( Lending on Line does Leasing )

LAS VEGAS--(BUSINESS WIRE)-- --Internet Business International Inc. (OTC BB:IBUI) the Internet commerce, communications, marketing and financial services company, and Return Assured Inc. (OTC BB:RTRN), developer of the "Return Seal of Approval," today announced their mutual decision not to pursue a merger.

The companies signed a definitive merger agreement in June of 2001, but litigation involving Return Assured and Concordia Capital of San Diego, and Michael Rose et al delayed timely completion of the merger.

The transaction proposed on June 6, 2001 was to be accomplished through a reverse triangular merger that would have resulted in the shareholders of IBUI owning 90% of the total outstanding shares of the combined companies on a fully diluted basis.

"At the time the deal was announced, the merger made great business sense and held the potential to create real value for IBUI shareholders," said Al Reda, CEO of IBUI. The delay brought about by Concordia Capital's litigation with Return Assured regarding the deal placed an undue burden on our ability to merge in a satisfactory time frame. We have the utmost respect for the president and chairman of Return Assured, Matt Sebal, and we wish him and Return Assured the best."

"We still see the opportunity for potential synergies between our companies, but won't pursue those synergies due to the effect of Concordia Capital's involvement in the proposed merger," said Sebal. "We wish IBUI the best in their future ventures and look forward to moving ahead."

About IBUI

Internet Business International (www.ibui.net) conducts business over the Internet through four operating divisions: Lending On Line (real estate loans and equipment leasing), ISP (Internet access dial-up service, Web services and wireless high-speed access in select areas of Nevada and California), E-commerce (auction, transaction and reverse auction sites in Europe and the United States), and Direct Marketing (long distance phone, wireless high-speed bandwidth, Web design and hosting services, and Internet-access computers).

IBUI has seven U.S. and one European office and more than 60 employees worldwide. For additional information, contact IBUI Investor Relations toll-free: 866/441-8901 or via e-mail: info@ibui.net.

About Return Assured

Return Assured has developed a proprietary B2C and B2B value-added "Return Seal of Approval" for the electronic retail community that vets retailers with high standards and then indemnifies the consumer with a "no-hassle" guarantee in support of that particular retailer's return and customer service policy. For more information of Return Assured Inc. and its exclusive "Return Seal of Approval," visit the company's Web site at http://www.returnassured.com.

Rich Schineller, 973/633-0888 Ext. 110 rich@3rd-mm.com

 

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

Creating New Funding Opportunities---

TIB To Offer BancPartners’ Private Label Equipment Leasing Program

New program will assist community banks in customer retention; obtaining quality earning assets; and generating significant fee income.

TIB – The Independent BankersBank and BancPartners Leasing Corporation announced today that TIB will begin offering BancPartners’ private label equipment leasing program to their independent community banks.

This comprehensive, turnkey program allows community banks to begin offering equipment leasing as a financing option for commercial customers with little additional risk or overhead.

“One of the most common requests we receive from our customer banks is for assistance in obtaining earning assets. The BancPartners’ equipment leasing program can assist community banks in adding quality assets to their books in addition to generating additional fee income,” noted Gayle M. Earls, President and CEO of TIB. “We are pleased to be able to offer our customers another valuable tool for keeping their current customers and attracting new relationships.”

The BancPartners’ program makes it easy for the banks to implement and administer the program by providing complete training, marketing, sales, credit, documentation, billing, collections, and tax reporting.

Warren Hawkins, CEO of BancPartners’ commented, “We are delighted to be working with an outstanding organization like TIB and look forward to assisting TIB with bringing a profitable new service to their customer banks”.

Chartered in 1981, TIB is one of the nation’s largest bankers’ banks, providing correspondent banking products and services to more than 900 independent community financial institutions. Based in Dallas, Texas, TIB also has offices in New Mexico, Louisiana, and Oklahoma. TIB can be found on the Internet at www.tibsite.com.

BancPartners’ Leasing Corporation is one of the largest independent leasing companies in the Southeast and Southwest U.S. with offices in Dallas and Austin, TX, Birmingham, AL, Nashville, TN, and Atlanta, GA. Its private label leasing program is one of the most comprehensive programs offered to community banks. BancPartners’ can be found on the Internet at www.bancpartners.com.

CONTACT:

Larry Mathews

BancPartners Leasing, Inc.

Phone Number: (205) 979-1700

( courtesy of ELAonline.com )

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De Lage Landen Financial Services names Pat Neary Vice President of Sales for its Office Equipment Strategic Business Unit

De Lage Landen Financial Services, a leading international provider of high-quality manufacturer and vendor finance programs, has named Pat Neary as Vice President of Sales for its Office Equipment Strategic Business Unit.

In his new position, Neary, 37, will oversee all aspects of sales, field sales management and strategy for the SBU, the company's core business unit and the established industry leader in private label small ticket leasing.

He will report directly to William Stephenson, Vice President and General Manager of the Office Equipment SBU.

A 13-year veteran of De Lage Landen, Neary joined the company in 1988 as a District Manager in San Antonio, Texas. In 1990, he was promoted to Regional Director and in 1993 was appointed Financial Manager for Major Accounts and Healthcare.

In 1995, he was named Director of Sales for the Central Region and a year later, Director of Sales for the Western Region.

He is a 1986 graduate of the University of Texas at Arlington with a B.A. degree in Marketing.

De Lage Landen Financial Services is part of De Lage Landen, an international provider of high-quality asset-finance products. The company has offices and joint ventures in 18 major countries throughout Europe and the Americas.

Specializing in asset financing and vendor finance programs internationally and concentrating domestically on a broad range of leasing and trade finance products, De Lage Landen in 2000 grew its net profit to $50 million (54 million) and its balance sheet to $8.4 billion (9.1 billion) in assets.

For more information, visit our Web site at www.delagelanden.com.

Sites of Reference:http://www.delagelanden.com

CONTACT:Marc DonahueDe Lage Landen Financial Services

Phone Number: 610 386 5030 Fax Number: 610 386 5038

E-mail: mdonahue@leasedirect.com

( courtesy of ELAonline.com )

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

 

 

_________________ More Nigeria E-Mail—

 

to: dshadel@markiicredit.com

fromLevans cosky” evanks@cosky@yahoo.co.uk

Sunday, January 13,2002 5:31pm

 

Dear Sir:

 

I am a legal practioner and an import-export consultant in West African

region.

 

One of my client is interested in investing Millions of Dollars in your

company and she is interested in investing with your company.

 

Kindly forward all your company’s activities to me for immediate decision on

the investment program.

Total amount to be invested+ $75,000,000,00.usd...Cash investment 4 Metric

tones of AU in dust...Treasure investment declared...Treasure investment

Original Democratic republic of Congo.

 

Immediately I receive your details I will inform her and feed you with her

arrangements.

 

Anticipating your i8mmediate reply.

 

Best regards

Evans Cosky

Tel 00229 40 16 77

 

 

Here's another letter requesting money from an African Country.

Ginny

-----Original Message-----

From: Nicholas Koromah <nkoromah@yahoo.fr>

To: ginnyyoung@bravacapital.com <ginnyyoung@bravacapital.com>

Date: Tuesday, January 08, 2002 3:24 AM

Subject: DEAR/SIR/MADAM

 

 

Dear Sir,Ginny Young

 

With due respect and humility I write to you this

proposal which I believe would be of great interest to

you.

 

I am Mrs. DORTHY KOROMAH a Sierra-Leone nationality

and the wife of late Sir PATRICK KOROMAH the Governor

of Central Bank of Sierra-Leone and Director of

Foreign Currency Operation, my husband was murdered in

cool blooded by the rebel forces loyal to Major Foday

Sankoh which resulted to a brutal killing and civil

war in our country before the powerful ECONOMIC

COMMUNITY OF WEST AFRICAN STATES (ECOMOG) FORCES

intervened, me and my son NICHOLAS manage to escape to

Abidjan the Republic of Cote d'Ivoire through the help

of my husband friend who has a fishing trawler. We

came into Abidjan with some valuable including a cash

sum of

USD 18.500.000.00 (Eighteen million five hundred

thousand dollar) in two trunk boxes. I deposited the

boxes with a private Security Company here in Abidjan

with my son NICHOLAS as depositor not the beneficiary.

Due to our political status and the nature of deposit

we cannot serve a beneficiary. The beneficiary must

bear the name of a Foreigner. The documentary power to

appoint beneficiary is with my son NICHOLAS. For your

information we did not disclose the real content of

the boxes to the Security Company and we did not wish

them to know this under any circumstance rather we

deposited the boxes as Family valuables, I therefore

soliciting for your assistance hoping that you are

honest and trust worthy in transferring this money

into your account out of Africa for business

investment in your country. I cannot do this on my own

due to our political status here in Abidjan. We have

in mind to reward handsomely for your assistance we

are prepared to compensate you with 25% of the total

sum of money for your assistance in the transaction.

If you are interested to help us you are required to

visit Abidjan in three working days for the following

reasons.

 

1.To open a local account in your name here in Abidjan

2.To sign agreement of trust

3.To finalize modalities for the successful transfer

4.To help in paying up the demurrage at the Security

Company

 

Please ensure that no one else know about this

business; it is extremely confidential. This business

is 100% risk free. You are required to contact my son

NICHOLAS with this number (00225) 07 94 95 54, for

further information your private phone and fax number

is needed for confidential reason.

 

God bless you

 

I look forward for your soonest reply

 

Best regard’s

 

MRS DORTHY KOROMAH

 

</PRE>

>

---

 

What say we do this and split the profits?

 

Sounds like a can't-lose air-tight deal.

 

Thank you.

 

David Rabinovitz

 

 

-----Original Message-----

From: ISSA MOHHAMED [mailto:mohhadissa@yahoo.com]

Sent: Friday, January 11, 2002 6:03 PM

To: david-rab@mediaone.net

Subject: VERY URGENT.

 

FROM DR.ISSA MOHHAMED.

 

TO: THE PRESIDENT / C.E.O

Sir,

 

RE: MONEY TRANSFER / INVESTMENT PROPOSAL

 

INTRODUCTIO: l am DR.ISSA MOHHAMED.a Civil Servant in

the Ministry of Health. l know this proposal will come

to you as a surprise because we have not met before

either physically or through correspondence. I got

your contact from our chamber of commerce here in

Nigeria and have no doubt in your ability to handle

this proposal involving huge sum of money. My

private Email address is as above.

 

THE SUBJECT: My father ALHAJI IDRIS MOHHAMED (Now

Late)

was the Royal Head of my community, ELEME (an oil rich

town) in Nigeria. My community produces 5.8% of the

total crude oil production in Nigeria and 0.5% of the

Dollar value of each barrel is paid to my father as

royalty by the Federal Government. My father was also

the Chairman of ELEME Special Oil Trust Fund. In his

position as the Royal head and Chairman of the Oil

Trust Fund, he made some money which he left for me as

the only heir to inherit. The money is Fifteen

Million Five Hundred Thousand US Dollars($15.5m). This

Money originated from the accumulated royalties

between 1976-1998 . Due to poor banking system in

Nigeria and political instability as a result of past

Military rules (1985-1999) , he deposited this Money

in a Strong Room/"VAULTS" with an open beneficiary in

a security company pending when he would finish

arrangement to transfer it abroad. He was planning

this when he died late last year of Heart attack.

 

THE PROPOSAL: Just before my father died he called my

attention to the money and charged me to look for a

foreigner who would assist me in the

transfer/investment of the funds abroad. So l would be

very grateful if you could accept to help me achieve

this great objective. I promise to give you 20% of the

total funds transferred to your vital bank account as

compensation for your assistance. ten percent

(10%)would be set aside to take care of all expenses

we may incur during the transaction. To indicate your

interest, contact me urgently and confidentially

through my e-mail address above for more information

and the roles you will play in this business. All the

legal Documents concerning this Money will be sent to

you as soon as we agreed together. May the almighty

God bless you.

Yours faithfully

DR.ISSA MOHHAMED.

 

----

 

 

From: adnan yusuf <adnanyusuf@hotvoice.com>

To: bem@mccormick-associates.com

Subject: Business Overture

 

INDEPENDENT HOUSE,

LAGOS, NIGERIA.

 

Dear sir,

We, (my colleagues and I) have an immediate business proposal

that involves a substantial amount of money, which we will like

to use for investment purposes under your custody for your country,

with you as our Expatriate Partner.

 

Please, do not hesitate to contact me, so as to discuss with

you the details of the transaction and the terms and condition

of regarding the business transaction.

 

Your urgent response will be highly appreciated and will swiftly

bring us to the commencement of the transaction. We hope to

conclude this transaction within 10-12 working days and you

can please be assured that this transaction does not run contrary

to any international laws.

 

Do not forget to contact me on the receipt of this mail on the

above e-mail address and please be informed that you have to

maintain absolute confidentiality as regards this pending transaction.

 

I urgently await your response.

 

Best Regards,

Adnan Yusuf.

 

---

 

FYI.

 

Nate Pfeifer

AXIS Capital, Inc.

308-381-1634

FAX 308-384-9547

npfeifer@axiscapitalinc.com

 

-----Original Message-----

From: Dr. Daniel Musheshe [mailto:daniel47mushe@yahoo.com]

Sent: Wednesday, January 02, 2002 6:36 PM

To: npfeifer@axiscapitalinc.com

Subject: Urgent Assistance

 

 

FROM: MR. TUNDE IGE

TEL: 234-1-7757617

FAX: 234-1-7597171

 

I saw your contact on the internet and decided to

approach you for an urgent deal through your company.

 

I am the son of Late Chief Bola Ige, former Minister

of Power and Steel, present Minister for Justice in

Nigeria who was assassinated on the 23rd of December

2001. My family is under tension now because, before

my father’s death, he told me that he has US$125M (One

hundred and Twenty five Million US Dollars) in a

suspense account with a security company in Ghana. He

explained to me that why he has to keep this money is

a suspense account of a security outfit outside

Nigeria is to protect his job as this money was

realized from gratification of contracts he awarded

during his tenure as the Minister for Power and Steel.

 

As the next of kin to my late father Chief Bola Ige, I

want to front your company as the recipient of this

funds and have it lodged in your account for onward

disbursement between you and me.

 

For your acceptance to receive this money into your

account, you will be entitled to 40% of the total

amount of the funds while 60% is for me.

 

Upon your acceptance of this proposal, we will enter

into a memorandum of understanding (MOU). We will also

visit the security organization in Ghana, West Africa.

This will enable us to familiarize ourselves. I will

also on this trip instruct that the funds be released

to your account and we will travel together to the

place of your account for possible disbursement

immediately.

 

This transaction will take about 48hrs to be executed.

There is no hitch.

 

I need your urgent reply.

 

Regards,

Mr. Tunde Ige

 

---

 

From: John Craine <johnc@thepowernet.com>

Don't know if you're interested in any more of these but here ya go!

***********************

John Craine, Sr. Director Business Development

PowerNet Financial Group

a division of Madison Capital, LLC

www.thepowernet.com

(800) 348-2288

(509) 695-3091 fax

johnc@thepowernet.com

 

-----Original Message-----

From: fash badmus [mailto:fbadmus_1@yahoo.com]

To: fbadmus_1@yahoo.com

Subject: PLEASE HELP

 

 

DEAR SIR,

 

MY NAME IS MR.FASH BADMUS, I AM A PRIVATE ATTORNEY AND

I HAVE A CLIENT WHO IS INTERESTED IN INVESTING SOME

GOOD MONEY IN YOUR COMPANY.

 

MY CLIENT IS A VERY IMPORTANT AND PROMINENT PERSON WHO

HAS MANDATED ME TO CONTACT YOU OR YOUR COMPANY FOR A

VERY IMPORTANT BUSINESS TRANSACTION. MY CLIENT IS BY

NAME MRS. MARYAM ABACHA AND SHE IS THE WIFE OF A LATE

MILITARY HEAD OF STATE IN MY COUNTRY.

 

HER HUSBAND LATE GENERAL SANNI ABACHA MADE A LOT OF

MONEY THROUGH OIL PROCEEDS DURING HIS TENURE IN

OFFICE. INFACT, IT WAS DISCOVERED AFTER HIS DEATH

THAT HE WAS WORTH WELL OVER $4.5 BILLION UNITED STATES

 

 

DOLLARS AND SOME OF THIS MONEY WAS RETRIEVED AFTER HE

DIED WHILE SOME WAS RECOVERED FROM OFFICIALS THAT

SERVED UNDER HIM DURING HIS REIGN AS PRESIDENT OF

NIGERIA.

 

THE TRUTH OF THIS CASE IS THAT MY CLIENT DESPITE THE

PROBLEM SHE IS GOING THROUGH NOW, SHE STILL HAS A LOT

OF MONEY IN HER POSSESSION. WHICH SHE INTENDS TO

INVEST OUTSIDE OUR COUNTRY.

 

WHAT MY CLIENT NEEDS FROM YOU NOW IS A RELIABLE

ACCOUNT WHERE SHE CAN TRANSFER SOME MONEY BUT MIND

YOU, ALL THE MONEY IN HER POSSESSION CAN NOT LEAVE AT

ONCE BECAUSE SHE NEEDS TO BUILD CONFIDENCE AND TRUST

IN SOMEONE WHO WOULD NOT EXPOSE HER PLAN TO REMIT AND

POSSIBLY INVEST IN YOUR COMPANY. SO SHE HAS AGREED

THAT I SHOULD MAKE ARRANGEMENT FOR THE TRANSFER OF

$45.5 MILLION UNITED STATES DOLLARS AND YOU ARE FREE

TO NEGOTIATE YOUR MODE OF COMPENSATION EVEN IF SHE

INTENDS TO INVEST THE MONEY IN YOUR COUNTRY.

 

PLEASE, DO NOT HESITATE TO INDICATE YOUR VIEW OF THIS

REQUEST BY CONTACTING ME IMMEDIATELY YOU RECEIVE THIS

MAIL, SO THAT THE NECESSARY ARRANGEMENTS CAN BE MADE

FOR THE MONEY TO LEAVE IMMEDIATELY.

 

DUE TO THE PRESENT SITUATION OF MY CLIENT, I WOULD BE

HAPPY IF THIS REQUEST CAN BE KEPT A SECRET. I WOULD

ALSO LIKE TO NOTE THAT THERE IS NO RISK INVOLVED.

 

 

I HOPE MY CLIENT WOULD BE HAPPY INVESTING WITH YOU.

 

SINCERELY YOURS

 

FASH BADMUS (ESQ)

 

---

 

From: KINGSLEY MBU <kimbus@omaninfo.com>

Subject: URGENT BUSINESS RELATIONSHIP

To: kimbus@omaninfo.com1

 

 

>From the desk of MR. KINGSLEY MBU

DIRECTOR: PROJECT INSPECTION(NNPC)

FAX NO: 234-1-7590198

 

ATTN: THE PRESIDENT/CEO

 

Dear Sir,

 

May I respectively invite your kind attention to the above subject matter

based on information gathered from a relevant source at FEDERAL MINISTRY OF

TRADE, COMMERCE AND TOURISM, and to solicit your assistance

in the execution of this business transaction. It is our sincere conviction

that you will handle this transaction with absolute confidentiality,

maturity and utmost sense of purpose.

 

I wish to inform you that we have FORTY-SIX MILLION US DOLLARS ($46Million),

which accrued from deliberate inflated contracts awarded by the Federal

Ministry of Petroleum Resources from my Corporation, Nigerian National

Petroleum Corporation (NNPC) during the past

military regimes and executed by a consortium of multinational companies in

the Oil Industry. The project executed are as follows:

 

(1) The expansion of Pipeline Network within Nigerian for Crude oil and Downstream products distribution and subsequent evacuation.

 

(2) Turn Around Maintenance (TAM) of three Oil Refineries namely: Port Harcourt, Warri and Kaduna.

(3) The construction of storage tanks for Petroleum Products (Depots).

 

Consequently, we humbly request your gracious assistance towards the transfer of the above stated sum into a personal off-shore account to be nominated by you. And be rest assured that this transaction is

100% risk free. There is no risk involved on both sides as we have covered all avenues or risk. Feel free to ask questions. We are also in position to link you if you are interested in NIGERIA CRUDE OIL from

(NNPC).

 

We agreed to offer you 20% of the total amount involved for your assistance while 5% will be mapped out to cover expenses made in course of the transfer.

 

For now all correspondence must strictly be by email or fax for security reasons.

 

Awaiting your urgent response.

 

Yours faithfully,

MR. KINGSLEY MBU

 

 

Glut of Used Cars on the Market Place Due to Zero % Interest

 

by Carol Said, San Francisco Chronicle

 

Used-car lots are overflowing with late-model vehicles at bargain prices.

Prices have dropped about 5 to 10 percent, said Rob Gentile, manager of auto price services at Consumer Reports in Yonkers, N.Y. "Now is a great time for consumers to buy a used car that they wouldn't have been able to afford in the past."

The reason is simple. Detroit has been picking up the tab for all financing on new cars since consumer spending froze after the Sept. 11 terrorist attacks.

The zero-percent down, zero-percent interest offers have lured flocks of new- car buyers, many of whom traded in their late-model used cars.

"In October, 400,000 more new cars sold than normal," said Paul Taylor, an economist with the National Automobile Dealers Association in Virginia. "We think 53 percent of those cars had a trade-in, which put an additional 212,000 used cars in the marketplace nationally."

Several other factors have contributed to the flood. With the economy slowing and job cuts increasing, banks and finance companies have stepped up repossessions of cars bought on credit. Rental car companies are winnowing their fleets because travel has slumped. And people who lease vehicles are increasingly returning them when the lease expires, rather than buying them at rates set up three or so years ago, which are now too high.

The result is a buyers' paradise.

"For the last two months, we were really giving away a lot of the stuff," said Joseph Johnson, associate manager at Broadway Ford in Oakland. "Our used car department just died."

The deep discounting can be seen at the giant auctions where dealers buy used cars.

On Tuesday, about 1,000 dealers from all over the Western United States assembled for an auction, one of three weekly at Fremont's Adesa Golden Gate. About 800 of the 1,400 cars on the block would sell during the five-hour extravaganza, a kind of hybrid beauty pageant/car wash. The cars for sale come from a variety of sources: bank repossessions, lease returns, rental-agency fleets, corporate fleets, dealer consignments and factory returns.

A black Dodge Dakota Sport pickup glided slowly into the auction bay and a pack of used-car dealers swarmed over it, clutching handheld computers with Kelly's Blue Book databases, while a "ringman" chalked the mileage and year on the windshield.

At a counter above the fray, an auctioneer leaned into his microphone and launched his rapid-fire spiel, rattling off the car's make, model, year and stats, and asking for a first bid of $10,000 before dipping to $7,000 to get it started.

The age-old mantra of chanting bids up higher and higher ended in less than 45 seconds as the car was sold for $8,300 and driven out at a stately 5 mph to make way for the next contestant, just inches behind it.

"I have the highest inventory right now I've ever had," said Gary Mobley, general manager of the sprawling, 62-acre site, packed bumper to bumper with 7, 800 Chrysler, General Motors, Mercedes and Volkswagen vehicles. "The used-car market has a glut."

Mobley said the prices dealers are paying at auction have dropped 20 percent since September. Dealers don't have a typical markup so there is no clear way to correlate what they paid at auction to prices they charge consumers, he said.

Retail prices tracked by the National Automobile Dealers Association show that buyers shopping this month will pay less for 2-year-old vehicles than they would have paid a year ago.

For example, a 1999 four-door Taurus with 30,000 to 35,000 miles sold for an average of $10,675 last January. This month, a 2000 model of the same car with equivalent mileage is going for $9,575, a 10.2 percent drop.

Consumers who want to take advantage of the glut should act quickly, experts say.

"If you're a used-car buyer, now's the time to do it," said Bob Kazdan, president of the National Association of Fleet Retail Dealers and owner of Wholesale Motor Sales in Los Angeles. "(With) the combination of low interest rates and reduced prices, you should be able to negotiate a very good deal for yourself."

Dealers expect the situation to reverse later this month when zero down, zero percent financing offers end.

"The market should start turning around very quickly for the used business, " said John Pasetta, used-car manager at Magnussen's Fremont Ford. "People who were buying new cars instead of used cars will start buying used cars again. The inventories will go away very quickly."


E-mail Carolyn Said at csaid@sfchronicle.com

 




Contact Deborah Lohse at dlohse@sjmercury.com or (408) 271-3672.

 

 

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