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| July 12, 2000 New add and alert to the bulletin Board, so now goes on top of this Leasing News Report: 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 Cut Off by BSB 7/12
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. $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. 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? 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. 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. --end of Bulletin------- LeaseForum Announces Management Team --Experienced Team Bringing Change to Online Commercial Equipment Leasing BOSTON----LeaseForum, Inc., today announced its management team with decades of combined experience in commercial equipment leasing and financial services. The executive team will play a key role in delivering LeaseForum's integrated suite of Web-based solutions for managing the complete life cycle of corporate equipment leases. LeaseForum's technology enables lessee and lessors to originate leases, manage them across the enterprise, and re market off-lease and surplus equipment. Susan S. Franklin is founder, president and chief executive officer of LeaseForum. Her vision and drive, coupled with a 15-year career in commercial equipment leasing, is transforming the fragmented leasing industry and the way corporations lease. As senior vice president of operations for American Finance Group, Inc, she was responsible for managing more than $3 billion in leases and related equipment. While at AFG, Ms. Franklin spearheaded the re-engineering of its operations and systems, constructed lease programs for Fortune 1000 customers, and managed extensive lease portfolios for third party retail and institutional investors. Her depth of knowledge in the industry has attracted an experienced and committed senior management team. Andrew S. Franklin, chief executive officer, is a seasoned executive with diversified financial and management experience. He has held several senior positions in financial services throughout his 17-year career. As senior vice president of Capital Crossing Bank, Mr. Franklin was portfolio manager for the bank and its leasing subsidiary. He also served as vice president of Chaston Associates, a bank consulting company. Prior to Chaston, he was in mergers and acquisitions at KeyCorp where he analyzed and valued banks. John T. Dulka, vice president, corporate sales, has extensive experience working with the Fortune 1000. In the leasing industry for more than 15 years, he has held sales and management positions with GE Capital Corporation and BancIreland/First Financial. As regional manager for American Finance Group, Inc., Mr. Dulka was responsible for originating equipment lease transactions with investment grade companies. He founded and built Northeast Leasing Associates, a small ticket leasing company. His diverse asset-based lending and investment banking experience, includes equipment leasing and syndication, corporate and project finance, and acquisition and bridge financing. David W. Fisher, vice president, equipment services, is an experienced leasing professional specializing in diversified equipment management. He has focused on the leasing industry for more than 10 years. As founder of DF Design, an equipment brokerage and placement company, Mr. Fisher provided equipment re marketing and liquidation to lessors. As director of asset management for American Finance Group, Inc, he evaluated equipment risk and managed the re marketing of off-lease equipment for a $350 million portfolio. Throughout his career, Mr. Fisher has established relationships with equipment dealers, refurbishers, brokers and industry trade groups. Mr. Fisher began his career as a communications specialist for the Federal Government and later joined MIT Lincoln Laboratory as chief engineer for the Deep Space Tracking RADAR. About LeaseForum LeaseForum, Inc. is headquartered in Boston's financial district. The company is the only online commercial equipment leasing marketplace providing an integrated suite of Web-based solutions for managing the leasing life cycle. LeaseForum enables lessees and lessors to originate leases, manage them across the enterprise and re market off-lease and surplus equipment. Additional information can be found on the Web at www.leaseforum.com or www.remarketxchange.com.
CONTACT: LeaseForum, Inc. Susan S. Franklin 617-443-9910 ssf@leaseforum.com CapitalStream Strikes Strategic Alliance with OANDA Online currency conversion rates to support CapitalStream subscribers' multinational business Seattle, July 12, 2000 - CapitalStream, Inc., an e-commerce provider of services and applications for the business finance industry, announced today a strategic alliance with OANDA, the Internet's leading provider of currency localization tools, information and transaction services. Under the terms of this agreement, CapitalStream licenses the use of OANDA's Internet-based online currency conversion rates to support CapitalStream.com subscribers engaging in multinational business transactions. CapitalStream accesses OANDA's database directly, utilizing FXProtocolÔ, which feeds the latest conversion rates of 164 currencies into a table on its site. Now financing companies can easily and automatically produce quotes in selected currencies as part of their subscription to CapitalStream.com. CapitalStream.com is a hosted e-commerce site combined with a Web-based toolset that enables manufacturers and vendors, financial brokers, B2B e-commerce companies and financing firms to integrate financing at the point-of-sale, reach a wider range of financing partners, and automate risk management and workflow. OANDA is a global leader in currency conversion, localization, decision support, transaction services, and forecasting. As a Web-based business-to-business Applications Service Provider (ASP), OANDA services over 12,000 clients globally, in seven languages. OANDA has one of the world's largest historical, high frequency, filtered currency databases, and is an early pioneer in the development of proprietary conversion, localization and forecasting tools. -more- CapitalStream Strikes Strategic Alliance with OANDA - Page 2 "We introduced this new service as a direct result of customer feedback," said Stephen Campbell, president and CEO of CapitalStream. "As our subscribers expand internationally and manage transactions in multiple currencies, we need to keep providing them with up-to-date, Internet-ready tools to support their global competitiveness. OANDA's broad expertise in online currency conversion rates helps us do just that." "By seamlessly integrating our customizable currency conversion service into CapitalStream's infrastructure, this partnership enables companies involved in the financial supply chain to move at the same pace as the Internet economy on an international scale," explained Tim Kelly, president and CEO of OANDA. About OANDA Established in late 1996, OANDA is a leading developer of currency conversion and localization applications for owners of e-commerce Web sites, the travel industry and the financial community. With over 12,000 customers using its applications and currency information and 20 million page views per month on its Web network, OANDA is committed to making essential currency information easily accessible to anyone including currency investors and traders, professionals in corporate procurement, business and private individuals who buy and sell globally, or the peripatetic road warrior. Actively providing currency conversion services for the Internet users of AOL, Alta Vista, CNNfn.com, Concierge.com, Swissair, Trip.com, among others, OANDA has won wide acclaim as the best source for international currency exchange rates. For more information, please visit the company's Web site at www.oanda.com. -more- CapitalStream Strikes Strategic Alliance with OANDA - Page 3 About CapitalStream Seattle-based CapitalStream offers end-to-end e-commerce marketplace solutions-including customer management tools, workflow automation and an online transaction network-for the global business finance market. The company's e-commerce network, CapitalStream.com, provides an infrastructure for financing companies, manufacturers and B2B e-commerce firms to capture, grow and service customers. CapitalStream has been an established industry leader for five years, and in 1999, its 600 customers used CapitalStream products to facilitate $8.5 billion in transaction volume. For additional information about CapitalStream, visit its Web site at www.CapitalStream.com. www.leasingnews.org
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