Leasing Conferences on February 10-12th---East Coast and West Coast
Financial Names Jay Carter President and COO
Thursday, Live at 1pm, California Time
National Association of Equipment Lease Brokers is the only organization
that lost members in the year 2001. All the rest had a membership
Find out Why?
Find out if this is the organization for you?
Learn what NAELB has to offer?
Next Thursday---LIVE at 1pm, California Time
Michael Meacher, President, National Association of Equipment Leasing Brokers
"Meet the Leasing News Maker"
Thursday, Next Week, 1pm, California time
( don't be late, tune in ten minutes earlier to
Monday---Odds and Ends
Terminal Marketing Request
I would like to hear from all Brokers, End Users, Vendors and former
employees that feel they have been damaged by Terminal Marketing or their
assignees. This case seems to be getting bigger and bigger by the day.
Please contact me via email or phone.
C2 Capital Corp.
888-348-6200, ext. 233
Missing Certified Leasing Professionals-------------------
If you can publish this list, we are still trying to track down the
following CLP's: Ronnie Bissland, Ann Clark, Cathy Clark, Kevin Conroy,
Tim Hill, Joyce King, Ralph Lewerenz, Tom Long, Duncan McIntyre, Jeff
Minott, Jennifer Mintz, Pat O'Rourke, Pat Ontal, Kris Rector, Patty
Russell, Ron Schultz, Chris Siri, Bill Wehner, Bob Clabots, Ron Hill,
Jennifer Kardos and Dale Volkamer. If anyone has an address or phone
number please advise Cindy at the CLP Foundation at CWSpurdle@msn.com or
at 610-687-0213 or fax 610-687-4111. Thanks - Steve
Steven B. Geller, CLP
Leasing Solutions LLC
20 Dike Drive
Wesley Hills, New York 10952
Leasing Association Membership
many thanks for your newsletter. You really provide a GREAT !! service.
Observation .... membership data in UAEL, NAELB, EAEL is not conclusive at
this time since
membership at 12/31/01 may NOT be members in 2002. Many firms renew in the
1st quarter, not by
12/31. A good follow up would be to compare membership at say 3/1/02 with
that at 3/1/01
P.S. I have a rather extensive lease magazine/newsletter library. How far
you want to go back?
D. Paul Nibarger, CLP
7310 Via Marie Celeste
Rancho Palos Verdes, CA 90275
( Thank you. I have the first minutes from the Western Association
of Equipment Leasing meeting, courtesy of Russ Rickards, formerly
of Cenval/Bank of the West. I go back as far as 1981 with UAEL
and have some odds and ends from others. Anything will help me
build up a library.
If there are issues we have duplicates and you would like us to return them,
we will. We will pay for UPS charges, too.
( Membership, your observations should be noted and definitely
taken into consideration. The actual figures may be the June numbers.
In good years, it is not uncommon to have a 80% retention rate. With all
the companies that have gone out of business, it might be 70% to 75%. But
on the other hand, there are many more independents now, new lessors,
new companies being formed, so an association with an aggressive membership
committee can make up for the losses. The real question is what is the
"mix" compared to the previous year. The larger funders paid higher
dues than the younger or smaller companies.
I personally see associations and networking more important than every
before, especially for emerging and growing companies. I think all
the associations should have followed MAEL, who raised their dues.
I personally see the association dues as "bargains" and thus the reason
why so many belong to more than one association. More about
this later this week. editor
Press Release Comments
I loved your comment on the press releases. Who writes these things?
If the energy it took to write and distribute press releases went into
finding actual deals I believe a lot more business would get done in
Since press releases seem to generate so much hype I have decided to put
one together that summarizes our activities over the past 10 years. It
will explain that we have had virtual application delivery for 11 years
now, we deployed a web interface to the Fair Isaac credit scoring system
back in 1996, we have a proprietary software package that is used by
more than 100 vendors and we now have our software installed in 26
community banks, we have been using "Risk Based Pricing" for nearly 3
years now, and Oh, yeah, I forgot... We had a paperless office a couple
of years ago but I decided that there were some things that were
actually better accomplished using paper so I went out and equipped all
of my people with Cross Pens and an 8.5" x 14" yellow, ruled tablet.
Since making that decision our productivity has skyrocketed.
1-800-321-LEAS (5327)x 101
Two Leasing Conferences on February 10-12th---East Coast and West Coast
Annual Equipment Management Conference and Exhibition, sponsored by the
Association February 10 - 12, at the Marriott Desert Springs Resort in Palm
Desert, CA. Over 40
service-providers--appraisers, remarketers, software houses, and more--have
already signed up to
show their stuff. To get details, your readers can go to elaonline.com/
Join Eastern Association of Equipment Lessor and National Association
of Equipment Leasing Brokers Febraury 11th, Atlanta, Ga.
There is a "get together" the night before. To learn more about
this go to:
#### ############################# ###############
Textron Financial Names Jay Carter President and COO
Textron Financial, a subsidiary of Textron, has named Buell J. Carter Jr.
president, in addition to
his current responsibilities as COO. Carter joined Textron Financial in 1990
and has held several
senior management positions at the company including vice president and
division manager of the
former asset based lending division and senior vice president of operations.
In 1999, Carter was
promoted to executive vice president and COO, giving him operational
oversight for all of Textron
Financial's lending divisions.
"Building on his 27 years of experience in commercial lending, nearly half
of which have been with
Textron Financial, Carter has tirelessly managed the operations of our
company during the most
challenging period in our history," remarked Stephen A. Giliotti, Textron
Financial chairman and
CEO. "I am confident that he will continue to be a significant contributor
to Textron Financial's
future success," Giliotti continued.
Prior to joining Textron Financial, Carter held management positions at ITT
Capital Finance, Chase
Manhattan Bank and Westinghouse Credit. He earned a Bachelor of Science
degree with honors in
physics from the University of Louisville, Louisville, KY.
Additional information about Textron Financial is available at
Additional information about Textron Inc. is available on www.textron.com.
How to Protect Yourself by Alfredo R. Vionnet
THIS IS TERRIFIC INFO TO HAVE! SUGGEST YOU READ IT.
Place the contents of your wallet on a photocopy machine and copy both sides
of each license, credit card, etc. You will know what you had in your wallet
and all of the account numbers and phone numbers to call and cancel in case
it gets lost or worse yet, stolen. Keep the photocopy in a safe place.
A corporate attorney sent this out to the employees in his company:
We've all heard horror stories about fraud that's committed us in your name,
address, SS#, credit, etc.
Unfortunately (the author of this piece who happens to be an attorney) has
firsthand knowledge, because his wallet was stolen last month and within a
week the thieve(s) ordered an expensive monthly cell phone package, applied
for a VISA credit card, had a credit line approved to buy a Gateway
computer, received a PIN number from DMV to change his driving record
information online, and more.
But here's some critical information to limit the damage in case this
happens to you or someone you know. As everyone always advises, cancel your
credit cards immediately, but the key is having the toll free numbers and
your card numbers handy so you know where to call. Keep those where you can
find them easily. File a police report immediately in the jurisdiction where
it was stolen, this proves to credit providers you were diligent, and is a
first step toward an investigation (if there ever is one).
But here's what is perhaps most important: (I never ever thought to do this)
Call the three national credit reporting organizations immediately to place
a fraud alert on your name and SS#. I had never heard of doing that until
advised by this attorney and a bank that called to tell him an application
for credit was made over the Internet in his name. The alert means any
company that checks your credit knows your information was stolen and they
have to contact you by phone to authorize new credit. By the time he was
advised to do this almost 2 weeks after the theft, all the damage had been
There are records of all the credit checks initiated by the thieves'
purchases, none of which he knew about before placing the alert. Since then,
no additional damage has been done, and the thieves threw his wallet away
this weekend (someone turned it in). It seems to have stopped them in their
Besides the numbers for the creditors, which you should know, the numbers
Experian (formerly TRW): 1-888-397-3742
Trans Union: 1-800-680-7289
Social Security Administration (fraud line): 1-800-269-0271
I hope you find this useful.
Alfredo R. Vionnet
Vionnet & Associates, Inc.
Phone: (559) 229-4782
Economists worry debt may choke off economic growth
BY JOHN GALLAGHER
Debt is everywhere in the United States, from the home-equity loans
consumers use to pay for
vacations, to outstanding credit-card balances that average thousands of
dollars per consumer. Some
say so much debt has accumulated that it is clogging the nation's financial
arteries. Whether the
U.S. debt level warrants a strict fiscal diet is a matter of debate.
Some economists warn that rising debt levels will choke off economic growth.
Among their concerns:
Bankruptcies are climbing toward an all-time high for 2001, and credit-card
balances per household
average more than $8,000. Delinquencies and write-offs of bank loans are
higher than they have been
in years, and consumer credit has swelled to $1.6 trillion.
Many economists say we've reached the danger point.
Among the indicators:
The percentage of disposable personal income that goes to cover interest on
debt topped 14 percent
in 2001, its highest level in more than 10 years.
The rate of delinquent payments on credit card debt hit 5 percent in the
third quarter. That was
its highest level in more than 15 years and twice the rate of the mid-1980s.
Bankruptcies filings are climbing again after declining for a few years.
The total number of new
bankruptcy filings in the third quarter was 359,518, a rise of 14 percent
over the same period in
The delinquency rate for mortgage loans on residential properties is
rising, hitting 4.87 percent
in the third quarter, up from 4.63 in the second quarter.
The problem with all this debt is that it burdens the nation just as we need
to be building and
spending our way out of the recession. With a rising chunk of income going
just to pay the interest
on debt, we have less cash available to put to better use.
Put another way, the nation needs to work off the excess debt before it can
return to the table for
Debt perhaps will hold down the nation's economic growth rate to 3 or 4
percent annual growth in
2003 instead of a more robust 4 or 5 percent rate.
In Tough Year, Dell Shines
Thor Olavsrud Internet.com
PC manufacturing was a tough market in 2001 for most U.S. firms, but some
have weathered the storm
better than others and none have done quite so well as Dell Computer Corp.
The Austin, Texas-based company Friday trumpeted that its fiscal
fourth-quarter operating results
were stronger than anticipated, and that overall revenue and earnings for
the period will exceed
guidance. The company said it now expects quarterly sales of about $8
from a projected $7.6 billion. It also said it anticipates earnings of 17
cents per share, as
opposed to previous guidance of 16 cents per share.
Dell said its consumer business, which led the charge in the fourth quarter,
is expected to produce
a sequential increase in product shipments of about 50 percent while
increasing revenue growth from
the third quarter by about 40 percent.
A little history
In the third quarter of 2000, IDC said Dell led the pack in units shipped in
the U.S., with 19.7
percent market share. It held second place -- behind Compaq (NYSE:CPQ) - in
worldwide PC shipments
with 11.6 percent market share. In the fourth quarter of 2000, as the market
began to tighten, Dell
powered through and grabbed 22.2 percent market share in U.S. shipments. As
shipments, Compaq declined in that quarter, falling from 14 percent share to
12.9 percent share,
but still held onto the number one slot. Dell managed to increase its
worldwide market share to
11.7 percent in the fourth quarter of 2000.
A year has passed since then, and Dell has continued to accelerate. At the
end of fourth quarter
2001, IDC said Dell's U.S. market
share had increased to 27.5 percent, while Compaq, Dell's closest rival in
the U.S. market,
declined from fourth quarter 2000 market
share of 15.1 percent to 12.7 percent market share. In the worldwide market,
Dell overtook Compaq.
IDC said Dell captured 14.2 percent of the worldwide market in the fourth
quarter of 2001, while
Compaq, now second place, slipped to 11.2 percent.
In fact, IDC said Dell was the only one of the top five vendors to grow
shipments in the U.S. and
worldwide year on year.
Compaq's worldwide shipments rose 16.3 percent sequentially, while fourth
shipments fell by 19.1 percent. In the U.S. its sequential growth only
reached 2.5 percent while
its year-on-year shipments fell by 24.7 percent. However, IDC said it did
manage to reduce
inventory internally and in channel, and made strides in shifting to a
direct distribution model.
( Leasing News reported this last week:
Compaq reports $92 million profit, exceeding expectations
By Mark Babineck, Associated Press
HOUSTON (AP) Compaq Computer Corp. easily topped Wall Street's
fourth-quarter 2001 earnings
expectations, announcing Wednesday that it earned $92 million for the
The Houston-based computer maker, which informed investors last week it
likely would make money,
turned a profit of 5 cents per share, beating the 1-cent consensus of
analysts surveyed by Thomson
The earnings figure includes a charge of $36 million, or 1 cent per share,
related to Compaq's
pending merger with Palo Alto, Calif.-based Hewlett-Packard Co.
Compaq's earnings were down 82 percent from the $515 million, or30 cents a
share, it made in the
final quarter of 2000, not including a $1.8 million write down because of
devaluation of its large
stake in CMGI Inc.
Chairman and chief executive Michael Capellas also predicted Compaq would
bring in about $7.6
billion in revenue and earn a penny a share in the current quarter. Analysts
break-even period. )
Hewlett-Packard Co. (NYSE:HWP), meanwhile, showed sequential growth of 35.5
percent, helping it to
recover from a difficult third quarter and remain number three in market
share both in the U.S. and
worldwide. Still, shipments were down 7.8 percent year on year.
Gateway Inc. (NYSE:GTW) shipments continued to decline in the fourth quarter
and the company pulled
out of many international markets, IDC said. Competition from Dell and HP
took its toll on
shipments in the United States as well. The company, while still fourth in
market share in the
U.S., slipped from 8.8 percent share in Q4 2000, to 6.3 percent share in Q4
Finally, IBM Corp.'s (NYSE:IBM) shipments fell 22.1 percent year-on-year,
though IDC said it
achieved 5 percent growth sequentially. IBM has de-emphasized its client
hardware business in favor
of a more solutions oriented stance. During the year, it folded its PC
marketing and sales
operations into the larger company and has since withdrawn from desktop
manufacturing. The company
now plans on selling PCs primarily as part of an overall solution, IDC said.
IBM was fifth in
market share in the U.S. in the fourth quarter, with 5.2 percent share. It
took the number four
slot in worldwide shipments, with 6.2 percent share.
A snapshot of the market
Meanwhile, the worldwide PC market shows some positive signs but remains
under pressure, IDC said
"Hard times persist in the PC market, but vendors are working diligently to
stimulate growth and
the outlook has started to improve in the United States and Europe," said
Loren Loverde, director
of IDC's Worldwide Quarterly PC Tracker. "We don't expect a rapid
turnaround, but the seeds of
recovery are being sown. Depending on the economic environment, growth in
the PC market may pick up
more rapidly toward the end of the year."
The firm noted that while the PC market remained depressed in the fourth
quarter, holiday buying
produced better-than-expected results and shipments grew sequentially over
the third quarter, even
while they declined year on year. IDC said worldwide shipments declined by
6.7 percent year on year
in the fourth quarter but grew sequentially by 16.9 percent to 34.2 million.
IDC said the more important indicator of the market's performance is the
sequential growth, which
it said lags only slightly behind the average fourth-quarter sequential
growth rate of 19.8 percent
(from 1995 through 2000).
The strongest market over the year was Asia Pacific -- excluding Japan --
which IDC said was the
only region to sustain shipment growth from a year ago. The firm said PC
sales continued to rise in
the largest markets, but potential was limited in smaller countries due to
political and economic
uncertainty. The Japanese market remains weak, and IDC projected
double-digit declines inthe next
few quarters there.
As was the case last year, the European market remained soft -- especially
in the corporate
segment. IDC said small business and consumer segments were the most active
in Europe and continue
to shift toward portable systems.
Finally, shipments in the U.S. fell 10.1 percent year on year, but beat
expectations. IDC said
sequential growth was 6.1 percent, which it attributed in large part to
increased home buying.
"U.S. consumers finally pulled out some of the stops in the fourth quarter,"
said Roger Kay,
director of Client Computing at IDC. "After four quarters of subdued buying,
consumers in the
United States ended the year with a burst of activity, particularly in