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June 14, 2001 --- Comdisco Survives---- 1Lease---“Not a Joke,” says Sean Wheeler ( and more ) Whatever Happened to....Jim Buckles
I was told by several readers on Wednesday that Comdisco did file Bankruptcy. A thorough search of all sources, including bankruptcy courts on line in Chicago, could not confirm this. It is true that since the Finova fell apart for GE Capital, they have a strong interest in Comdisco, especially since the former president resigned . Ken Duffy, Sr, President of Summit National wrote in Leasing News, May 3,2001: “Ken Pontikes’ son took over after his untimely death two years ago. And as many sons do, he thought he was "entitled" to run one of the finest companies ever built. My guess is he was either scared to death or astoundingly arrogant. The story of his missteps is public and tragic. His $300 million dot.com investment is today worth $1.83 if that. He resigned as CEO a few weeks ago, finally admitting he was in over his head. Today he placed 2.5 million Comdisco shares for sale and will exit stage left with $25 or so million, if he's lucky, that he had nothing to do with earning. And behind him for all intents and purposes lies a bankrupt shell. Just wanted to remind people that what Comdisco has become is not what it's founder intended nor did he cause.” It may be that the negotiations with GE are very serious and their offer is being considered by creditor committees and the bankruptcy judge, just as in the Finova process. This time it appears GE will win as they have both the money and expertise to pull it off. By the way, Comdisco still owns a lot of stock in other companies, has a great presence, and may be like investing in real estate---only cash flow and better management keeps it from the race. Sunday Sermon--- Again thank you for all the reaction and comments. I received more encouragements, but it is time to get on with other business---the main reason for Leasing News. editor ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 1Lease ---“Not a Joke,” says Sean Wheeler ( and more ) Kit Give me a break! I saw the posting by Izzy Finster and he should leave the house more often. Michael's Floral is a $5 Billion dollar a year company. And Steve Ballards title is one that Mr. Finster I'm sure could not even apply for. Steve has 15 years of corporate finance experience. Joke / not a Joke who cares the reality is that One Lease does have over 240 satisfied brokers if you don't like us go somewhere else. We don't need anyone’s business that bad. One Lease increased sales in 2000 by over 136% from 1999. Anyone that would like to compare financial statements for year end 2000 please feel free to call and then we will see who the joker really is. Our statements are audited by the firm of Arthur Anderson. Sean
Wheeler, CLP ( The e-mail said, “Steve spent his last 6 years in the Operations / Finance department with Michael's Floral the fastest growing retail store chain in the West.” The 15 years was not mentioned. I guess you are saying that 240 brokers cannot be wrong. That is quite a following, indeed. I will ask Mr. Finster to respond, and also to let us know what “faygeleh” business means. editor ) ^^^^ Claims Wheeler Is Not a CLP---- Your recent Leasing News had a memo from Sean Wheeler, currently of One Lease, about his departure from the leasing industry. This appears to be the same Sean Wheeler who was affiliated with EFG (Equipment Financing Group), Directional Funding, Inc., and DirectFunding.net, all of Fresno, CA. These firms were the subject of several ethics complaints to the NAELB. The NAELB refunded Directional Funding, Inc. membership dues and expelled them from the association. Now in his parting missive Mr. Wheeler has the audacity to put the CLP designation after his name. I checked with the Executive Director of the CLP Foundation and she told me he is not in the CLP database. I suspect when he gets to "Wet Pets" he will be a DVM. Bob
Bell, CLP ^^^^ Don’t Believe Wheeler 1Lease, Directional Funding are one in the same. I have had personal experiences with them, or should I say Sean Wheeler, or David, or whomever he is calling himself these days. Directional Funding had to be changed to 1Lease only because they "Sean" were getting into trouble. If you will notice Sean's name is nowhere to be found. You can't believe anything that comes out of his mouth. As for the 35 years in the leasing industry well the way I calculate it, that would be before Sean was even BORN!! Name Withheld (permission to quote not given at press time. We always verify, although this person did say “yes” in the form. editor ) ^^^ Don’t Believe the Press Release
I urge you to do some journalistic due diligence on the alleged change in the
management of 1lease. I urge due diligence on 1lease in general. Query any number
of brokers who have been solicited and submitted business to this "funder". Decide
for yourself what this "funder" is or is not. Troy
Lovick ------------------------------------------------------------------------------------------------- ##################### ############################### Lessors.com ----Their Conference--- Financial Resource Conference Officially Opens Attendee Registration Atlanta, GA, – The Financial Resource Conference (formerly the eLeasing Conference) today officially opened Attendee Registration for the August 28 –30 event. Offline finance activities are rapidly moving online as companies form financial networks and alliances via the integration of their systems with those of their customers, vendors, suppliers and funding partners. To protect market share and improve customer service, industry leaders are adopting new technologies and enhancing their company's origination, administration, funding and distribution networks via the resources exhibited at the Financial Resource Conferences. From The Ritz-Carlton, Buckhead in Atlanta, GA, the FRC has established a tradition of distinction, elegance & exclusivity replacing outdated trade show cultures with an upscale and professionally intimate conference culture. Attendees are senior level financial executives responsible for setting organizational strategy and identifying, evaluating, and securing new business alliances. Concurrent Exhibitor Workshops introduce attendees to innovative technologies designed to enhance origination, administration, funding and distribution networks within the equipment leasing and finance markets. The Funding Source Exhibit provides attendees an opportunity to network with an elite group of pro-active funding sources. Sponsor/Advertiser's cutting-edge products and services, exclusively targeting the equipment leasing, will be showcased throughout the FRC. Featured Speakers, planning and implementing next generation eCommerce strategies, will also share their vision of the evolving equipment leasing and finance markets. This event has always sold out early. Early registration is encouraged to avoid exclusion. Registration details are available from http://www.lessors.com. ######### ############# ############### ######################## Dolsen Leasing---- Word has it that Dolsen Leasing in WA is gone. Still answering phones and servicing accounts but no new business. National Association of Equipment Lease Brokers Listserve brought this fast response: Just spoke with Joanie, she confirmed that they have pulled back for now, and are not accepting any new broker business. They will continue to write deals for current lessees (referring back to the broker if it was broker generated). They laid some people off, and are just regrouping. No problems with bank lines, etc., just taking some time off from funding new deals until they can get a handle on their delinquent accounts. Jeffrey
M. Bob, CLP ( We understand the company is basically “family owned,” several branches, in good financial shape, just cutting back to keep going in this economy. editor ) ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Also On Line at: Whatever Happened to..... Whatever Happened to..... "In 1999 Jim Buckles installed our System 1 software - without his professional assistance and knowledge of the program we would not be where we are today or as accomplished using the options available to us with our purchase. He was extremely patient - support calls were handled immediately. His careful explanation of the program and how to use it to our best advantage were worth many times the price paid. Our business has become more efficient and profitable because of his assistance - thank you Jim Buckles." - June Sciotto, Regal Finance, Charlotte, NC "I have found Jim Buckles to be knowledgeable about all aspects of my software programs, how they relate, how to manage them better and how to use them more efficiently. Not only System 1 (now Capital Stream), but also the overall set up of my software programs and even hardware installations. Overall, he is well educated, professional, very responsive and masterful at my contact management program and an excellent crisis manager. More importantly he has a complete understanding of my business and my industry and has had a direct positive impact on the bottom line of my company. I don't know what I would do with out his expertise." - Theresa Kabot; Kabot Commercial Leasing, Seattle, WA. Jim Buckles--- "I am thankful for the experience gained at System 1 / CapitalStream and excitedly look forward to the future in continued assistance to equipment leasing breoker." Now operating "Preferred Broker Services" Lease Automation with System 1 / CapitalStream and other programs; proper configuration and training at "reasonable rates." I was born in Redwood City, CA in the mid '50's. My father transferred employment from Dalmo Victor Corp in San Mateo to a branch office in Grants Pass, OR in 1967 where I grew up and resided until graduating from Grants Pass High School in 1973. During my adolescence, I was not scholastically motivated. I sort of naturally did well in school. My passions were to write (I wanted to be a journalist), play music and girls (not necessarily in order of importance). In 1964 I saw The Beatles appear on the Ed Sullivan show, and my life has never been quite the same, since. My father was an accomplished guitar player, which influenced me greatly, except that I chose to pursue the drums. I started playing rock & roll at age 13 to make some extra money. Occasionally (and begrudgingly, then) I sat in on my Dad's band, playing Big Band music and popular 1940-1950's standards. Since it was very difficult to have a solo career playing drums, I taught myself to play guitar and piano as well. I found that woman were more apt to pay attention to you if you could serenade them with a mellow rendition of a James Taylor classic rather than bang out the solo to In-a-gadda-da-vida by yourself. Not that any accompaniment would have helped. After graduating from high school, rather than pursue college, I decided to travel throughout the US picking up odd jobs (mostly construction related) to supplement my sporadic economic needs. Since I was good with my hands (just don't ask any of the women I dated back then), I chose to be a carpenter. While living in Texas in the late 70's, I met my lovely wife, Cindy. We married in 1978 and moved to Southern California, and my life has never been quite the same, since. We both took jobs working for Wherehouse records. This helped fuel both of my desires of working in the music trade and that ever persistent need to produce an income. The record trade taught me first hand how sleazy and unsatisfying the music industry actually was. I found that it didn't matter how accomplished of a musician or talented a songwriter you were. You're artistic merits were judged solely on your marketability. Since record industry people are not necessarily artistic themselves, the acceptance to new talent was somehow based on the resemblance to some previously proven commercial success. At that time, Wherehouse Records was run by a corporation named Integrity Entertainment. Besides retailing and rack jobbing, I learned the definition of the term "irony". This also started a 10 year career in retail sales and management, which evolved into the sales of (micro)computers starting in 1982. In 1980, we moved to Seattle, WA (opening new record stores). I met up with a couple of High School friends who were heavily involved in the pastorship of a Christian church in Bellevue, WA. As you can tell by my spending the late 70's ambling about the states, I was very much a "seeker". It was during this time that I found what I had been looking for. I learned that Jesus of Nazareth was not only the Son of God but also that you could have a personal relationship with him and he would forgive you of all your sins. I signed up. I became a Christian and my life, definitely, has never been quite the same, since. The 80's and 90's have whirred by in a middle-aged blur that takes me to the present. Cindy and I have been married now for 23 years without any children, although we have always fostered a maximum of 3 cats, at any given time. The experience has had some similarities. Not unlike children, they don't pick up after themselves, stay out too late and don't call, won't move out on their own and if we hadn't gotten them all fixed, we would have a house full of Grandkittens by now. Such is life. I came into this life with nothing, and so far, I've still got most of it left. Coming on board with System 1 Software 4 years ago, I was brand new to the equipment leasing industry. I had known John Kruse and Cliff Monlux, the founders of System 1, through a prior industry experience. I had a reputation for helping companies to embrace automation, and System 1 had a growing demand for expertise in the areas of training and implementation. Over the next 4 years, I assisted over 50 companies in improving their business efficiencies, and, in return, I received a valuable education in equipment leasing, and more specifically, the unique challenges facing the equipment leasing broker. After leaving CapitalStream (formerly System 1 Software) in January, I decided to continue to offer my services to the industry on an independent basis. And so, I formed Preferred Broker Services ("PBS"). I have always been interested in current technologies and the automation of business processes, (starting as far back as 1982 at ComputerLand, Seattle), but never smitten by just the technology alone. My interests lie more significantly in the personal relationships gained by the overall experience of working with people. Without the benefit of establishing a relationship with your customers, you have nothing substantial to build your business on. Automation is a tool which, if implemented correctly, allows you more time to cultivate those relationships and enhance the opportunity to offer something of value to your customer and gain the satisfaction of being of benefit to others. As Zig Zigler puts it ""You can have everything you want if you help others get what they want". In addition to my involvement, PBS combines the talents of other former CapitalStream employees, and is dedicated to the training and support of office automation products for equipment leasing brokers, with a focus on System 1/CapitalStream desktop products. PBS's initial goal is to bridge the gap that has been left with the Brokers who made the initial investment in System 1, but never had available training to thoroughly understand the benefits of these products. The current services available by PBS are: System 1 desktop training and technical support, custom template and crystal report creation as well as web development. We want to assist you in making your office automation more efficient and to strengthen the message that you portray to your vendors and lessees via the web. Our goal is to offer the best available support services at affordable rates for the independent businessperson. I have collaborated with people of the same work ethic, which I have had the pleasure to work with in previous endeavors. Trevor Denham (web programmer extraordinaire) performs Web consulting and designs {see Ted Prichard's smokeymountainfunding.com site. I love the cow!}. Kevin Considine is our marketing and media consultant. Peggy Rendt performs document and report creation. Stacy Han contracts for VB programming and has an amazing talent for making complex functionality execute in the simplest manner. I am thankful for the experience gained at System 1/CapitalStream and excitedly look forward to the future in continued assistance to equipment leasing brokers. Jim
Buckles
Preferred Broker
System
1 TM Solutions
Support Specialists Many
independent businesses face increasing difficulty finding the time or money necessary
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/ Plus and CapitalStream Advantage TM, as well as third party programs used in junction with
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to train within your environment
using your day-to-day You may choose to pay on a per-instance basis scenarios.
Training is available for System 1 products For support issues or maintain a yearly service as well as Crystal Reports. Contract for unlimited telephone support. Web Development
Custom Templates Web consulting and development to help enhance Custom
template creation is available to make The message that you
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to your document automation more
efficient. Whether Customers and prospects on the World Wide web. the request is funding source
agreements,
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PBS has Crystal Reports experts who can create Additional System 1 / CapitalStream Advantage Reports for your analysis needs. Preferred Broker Solutions
– 19621 82nd
Pl W –
Edmonds, WA 98026
– (866) 352
- 8665 – service@pbs4u.com
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