July 10, 2000

Leasing News Now Also On Line -- The List/ Bulletin Board, Dennis Doyon Found/ First Sierra Stock.

Leasing News is now available on www.leasingnews.org

You will find a "Bulletin Board" and "The List" plus a calendar, links, archives and other features to follow.

Anyone can receive a copy of Leasing News by e-mail just by requesting. We don't add anyone, unless they specifically request (no spam ).

Here are the original Editorial Advisory Members.

Bob Baker, Wildwood Financial
Phil Dushay, Global Leasing
Mike Graneri, Graneri and Associates
Ken Greene, Attorney
Bob Rodi, LeaseNow
Bob Teichman, Teichman & Associates
Andrew Thorn, Thalman Finance
Rob Yohe, Yohe and Associates

" I feel that what you are proposing will be very useful to brokers and funders."
Steve Crane, Bank of the West

" I have been following your newsletters and really find them informative. As a matter of fact I look forward to them. If you feel someone on the east coast could help,you can count on me."
Phil Dushay, Global Leasing

"I will help you in any way I can."
Andy Thorn, Thalman Financial

" I'm for anything to improve the industry. I would like to see all of us in the business, Brokers, Lessors, Funders and everyone else in the industry get along better."
Roy Yohe, Lease Consultant

" I think your newsletter is an important to the industry."
Bob Baker, Wildwood Financial

" This may be an opportunity for people who are either members of different associations or who are not affiliated with any to come together to find a solution ( to fraud and unprofessional conduct ). An industry-wide Code of Ethics is critical. "
Bob Teichman, Teichman Financial Training

" I think that we may be able to do some things that the associations cannot. I will always be on board for anything that promotes our industry, raises standards and preserves our livelihood. I also feel that this effort will have a lot of credibility because there is no profit motivation."
Bob Rodi, LeaseNow

" I hope that I am able to make a positive contribution."
Ken Greene, Attorney

I have asked others to join this group to help me with policy, strengthen the mission, and give input to the direction of the web site. We have no plan for banners, advertisements, and want to keep it strictly unbiased, free, and helpful to our profession.


32 Leasing Companies Major Changes in the last Six Months:

American Business Leasing ( gone )
Bankvest (bankrupt)
Bombadier ( reported having problems, not confirmed )
C&W Leasing (acquired by Granite who was acquired by Fidelity National Title)
Charter Financial ( purchased by Wells Fargo )
Commerce Security ( closed )
Copelco ( sold to Citibank )
Dana ( sold off, active as captive )
DVI Capital ( out of broker )
Fidelity ( acquired by ABN Amro Bank )
Finova ( out of market place )
Franklin Bank ( no more leases )
Imperial ( sold portfolio )
Leasing Corp of America ( for sale below book value )
Leasing Solutions ( bankrupt )
Libery Leasing ( closed )
Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales )
Merit Leasing ( gone )
METWEST LEASING CO. Spokane WA. ( advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding. )
Nationbank Leasing ( closed )
New England Capital ( sold )
Newcourt ( sold off )
Phoenix ( both divisions )
Prime Capital ( "yes and no" sold off, may be negotiating )
Rockford ( sold to American Express )
SDI ( closed )
T&W ( bankrupt, lost their listing )
Transamerica ( sold )
Unicapital ( reportedly struggling, fighting back )
United Capital ( coming back, changes, good reports )
United Leasing ( re-financing )
USA Leasing ( gone )

any comments, corrections, additions, or suggestions are greatly appreciated.


No Longer at Total Funding

Dennis Doyon is at Commercial Money Center, working out of Portland, Oregon at 877-775-8787. The company handles all types of leases, specializing in the tougher collateral and credit story transactions.


First Sierra Stock ( Sierra Cities )Monday Hits All Time Low of 2 7/8

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BTOB&script=200

To see the fall:

http://www.sierracities.com/stock_chart.asp

( at close of Friday )
as of 7/7/2000
Market Capitalization (000)
$58,000
Close Price (7/7/2000)
$3.03
52 Week
High $24.25
52 Week Low
$2.94
YTD High $23.94
YTD Low $2.94

( at close of Friday )


BULLETIN BOARD

( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in good taste or is outright derogatory ).

Universal Capital Service 7/5
Parker Leasing and Financing 6/16
Dodson Group complaint 6/15
Universal Capital Service 6/12
Metropolitan Group Question 6/12

Source states Universal Capital Services, Springhill, Florida, took up-front fees on deal and has not returned to lessee. Lessee is complaining to funding source. This is the third complaint received on this. Source is trying to find out more and request this be posted on bulletin board. Source will allow us to state name, if this is not resolved.
7/5

$25,000 SD $29,000 first and last Three months did not return money Parker Leasing and Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints, Parker Leasing and Financing refuses to return commitment fee and first and last.
6/16

We had been using the Dodson Group for overnight (Airborne) until recently. They were charging us $8.75 per overnight (there cost to Airborne is $7.61, who cares, they deserve a profit). But, in auditing our bills for the last 2 years we kept noticing that we were being repeatedly charged $12.00 to $18.75 for overnight on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight", so we researched further and discovered that most of the overcharges were on checks going out overnight to vendors and brokers - no way this could be "overweight".

For the past year we have faxed and called Dodson repeatedly to get corrected invoices - no one would even respond! So, we put them on notice that we would not pay any more invoices until they corrected their over billing problem - they never did. Their response was to turn us over to a collection agency!

We are convinced they purposely overcharged us, and probably every other client! Dodson does a lot of biz with NAELB brokers, don't these brokers need to know about Dodson's policy of quoting one price and charging another?
6/15

Avoid this company like the plague. I believe that if it is the same one they also run companies under the name(s) Universal Manufacturing - (Vendor) & Universal Finance (Credit repair company). I'll look up the e-mail I received on this a while back. I think what the story was is that Universal Capital, Florida, would submit a deal to funding source, then if declined due to personal credit, Universal Finance would repair credit then resubmit elsewhere. The vendor would be Universal Manufacturing who would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then they split excess with lessee.
6/12

Do you know anything about Univerasl Capital Services, Inc., In Spring Hill, Florida 34606. One of the lease brokers I work with is having trouble getting paid on a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know if you hear anything.
Thanks.
6/12

Metropolitan Mortgage and Sec in Washington had a division that funded the lesser credits. Well they have stopped and are not honoring their approvals if they don't already have signed docs. This was told to me by a broker in Arizona who has 10 deals sitting with them and she is now scrambling to replace them.
6/12

July 10, 2000

Leasing News Now Also On Line -- The List/ Bulletin Board, Dennis Doyon Found/ First Sierra Stock.

Leasing News is now available on www.leasingnews.org

You will find a "Bulletin Board" and "The List" plus a calendar, links, archives and other features to follow.

Anyone can receive a copy of Leasing News by e-mail just by requesting. We don't add anyone, unless they specifically request (no spam ).

Here are the original Editorial Advisory Members.

Bob Baker, Wildwood Financial
Phil Dushay, Global Leasing
Mike Graneri, Graneri and Associates
Ken Greene, Attorney
Bob Rodi, LeaseNow
Bob Teichman, Teichman & Associates
Andrew Thorn, Thalman Finance
Rob Yohe, Yohe and Associates

" I feel that what you are proposing will be very useful to brokers and funders."
Steve Crane, Bank of the West

" I have been following your newsletters and really find them informative. As a matter of fact I look forward to them. If you feel someone on the east coast could help,you can count on me."
Phil Dushay, Global Leasing

"I will help you in any way I can."
Andy Thorn, Thalman Financial

" I'm for anything to improve the industry. I would like to see all of us in the business, Brokers, Lessors, Funders and everyone else in the industry get along better."
Roy Yohe, Lease Consultant

" I think your newsletter is an important to the industry."
Bob Baker, Wildwood Financial

" This may be an opportunity for people who are either members of different associations or who are not affiliated with any to come together to find a solution ( to fraud and unprofessional conduct ). An industry-wide Code of Ethics is critical. "
Bob Teichman, Teichman Financial Training

" I think that we may be able to do some things that the associations cannot. I will always be on board for anything that promotes our industry, raises standards and preserves our livelihood. I also feel that this effort will have a lot of credibility because there is no profit motivation."
Bob Rodi, LeaseNow

" I hope that I am able to make a positive contribution."
Ken Greene, Attorney

I have asked others to join this group to help me with policy, strengthen the mission, and give input to the direction of the web site. We have no plan for banners, advertisements, and want to keep it strictly unbiased, free, and helpful to our profession.


32 Leasing Companies Major Changes in the last Six Months:

American Business Leasing ( gone )
Bankvest (bankrupt)
Bombadier ( reported having problems, not confirmed )
C&W Leasing (acquired by Granite who was acquired by Fidelity National Title)
Charter Financial ( purchased by Wells Fargo )
Commerce Security ( closed )
Copelco ( sold to Citibank )
Dana ( sold off, active as captive )
DVI Capital ( out of broker )
Fidelity ( acquired by ABN Amro Bank )
Finova ( out of market place )
Franklin Bank ( no more leases )
Imperial ( sold portfolio )
Leasing Corp of America ( for sale below book value )
Leasing Solutions ( bankrupt )
Libery Leasing ( closed )
Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales )
Merit Leasing ( gone )
METWEST LEASING CO. Spokane WA. ( advising brokers that they have run out of funds so they are unable to fund a transaction we have there for funding. )
Nationbank Leasing ( closed )
New England Capital ( sold )
Newcourt ( sold off )
Phoenix ( both divisions )
Prime Capital ( "yes and no" sold off, may be negotiating )
Rockford ( sold to American Express )
SDI ( closed )
T&W ( bankrupt, lost their listing )
Transamerica ( sold )
Unicapital ( reportedly struggling, fighting back )
United Capital ( coming back, changes, good reports )
United Leasing ( re-financing )
USA Leasing ( gone )

any comments, corrections, additions, or suggestions are greatly appreciated.


No Longer at Total Funding

Dennis Doyon is at Commercial Money Center, working out of Portland, Oregon at 877-775-8787. The company handles all types of leases, specializing in the tougher collateral and credit story transactions.


First Sierra Stock ( Sierra Cities )Monday Hits All Time Low of 2 7/8

http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BTOB&script=200

To see the fall:

http://www.sierracities.com/stock_chart.asp

( at close of Friday )
as of 7/7/2000
Market Capitalization (000)
$58,000
Close Price (7/7/2000)
$3.03
52 Week
High $24.25
52 Week Low
$2.94
YTD High $23.94
YTD Low $2.94

( at close of Friday )


BULLETIN BOARD

( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in good taste or is outright derogatory ).

Universal Capital Service 7/5
Parker Leasing and Financing 6/16
Dodson Group complaint 6/15
Universal Capital Service 6/12
Metropolitan Group Question 6/12

Source states Universal Capital Services, Springhill, Florida, took up-front fees on deal and has not returned to lessee. Lessee is complaining to funding source. This is the third complaint received on this. Source is trying to find out more and request this be posted on bulletin board. Source will allow us to state name, if this is not resolved.
7/5

$25,000 SD $29,000 first and last Three months did not return money Parker Leasing and Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints, Parker Leasing and Financing refuses to return commitment fee and first and last.
6/16

We had been using the Dodson Group for overnight (Airborne) until recently. They were charging us $8.75 per overnight (there cost to Airborne is $7.61, who cares, they deserve a profit). But, in auditing our bills for the last 2 years we kept noticing that we were being repeatedly charged $12.00 to $18.75 for overnight on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight", so we researched further and discovered that most of the overcharges were on checks going out overnight to vendors and brokers - no way this could be "overweight".

For the past year we have faxed and called Dodson repeatedly to get corrected invoices - no one would even respond! So, we put them on notice that we would not pay any more invoices until they corrected their over billing problem - they never did. Their response was to turn us over to a collection agency!

We are convinced they purposely overcharged us, and probably every other client! Dodson does a lot of biz with NAELB brokers, don't these brokers need to know about Dodson's policy of quoting one price and charging another?
6/15

Avoid this company like the plague. I believe that if it is the same one they also run companies under the name(s) Universal Manufacturing - (Vendor) & Universal Finance (Credit repair company). I'll look up the e-mail I received on this a while back. I think what the story was is that Universal Capital, Florida, would submit a deal to funding source, then if declined due to personal credit, Universal Finance would repair credit then resubmit elsewhere. The vendor would be Universal Manufacturing who would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then they split excess with lessee.
6/12

Do you know anything about Univerasl Capital Services, Inc., In Spring Hill, Florida 34606. One of the lease brokers I work with is having trouble getting paid on a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know if you hear anything.
Thanks.
6/12

Metropolitan Mortgage and Sec in Washington had a division that funded the lesser credits. Well they have stopped and are not honoring their approvals if they don't already have signed docs. This was told to me by a broker in Arizona who has 10 deals sitting with them and she is now scrambling to replace them.
6/12

 

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