Kit Menkin’s Leasing News

                   www.leasingnews.org  Monday, June 17, 2002

Accurate, fair and unbiased news for the equipment Leasing Industry

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Finance company operator arrested

  Will the Real Sean Wheeler Please Stand Up?

         New Business-where is it?  by Ron Caruso

              The Week Ahead June 17-21, 2002

Tyco Plans to Repay $10 Billion of Debt in Next 6 Months

   American Equipment Finance LLC opens Scottsdale Office

      Authors berate 401(k)s as a 'great hoax' –Ann Perry

         San Francisco--- Dog Attack Judge Orders New Trial

            Omtool Adds Leading E-Form Provider Create!form

                IDS’ InfoLease Managed Service

 

## Denotes Press Release

 

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Finance company operator arrested

 

by Rene Tankersley   Landline Magazine

 

The official publication of the Owner-Operator Independent Driver Association

 

 

The president of an advance-fee finance company has been arrested on seven felony counts. Kendra Bernal, of The Funding Tree (not to be confused with The Lending Tree) and Integrity Group, was arrested May 31 in Riverside County, CA. Under the two company names, Bernal offered financing of commercial vehicles and other equipment.

 

Bernal faces six felony counts of taking money and personal property of a value exceeding $400 and one count of engaging in the business of a finance lender and broker without obtaining a license from the Department of Corporations.

 

The complaint alleges Bernal operated without a license from September 2001 through May 30, 2002, and "took, damaged and destroyed property of a value exceeding $150,000." The complaint listed money and property taken from Freedom International, Luis Ojeda, Joe Diaz, Fernando Hernandez, Diversified Sales and Service Corp., and Jose Martinez.

 

Finally, the complaint noted a violation of probation had been filed based on these allegations. Bernal was serving a 60-month probation, which prohibited her from receiving or accepting any type of money on behalf of her employer, and from purchasing, selling, registering, transferring, leasing or renting a vehicle without prior permission of the probation officer.

 

The latest charges came five months after the California Department of Corporations issued a desist and refrain order in January. The order warned Bernal and her companies to stop engaging in business as finance lenders or brokers without a license in violation of the California Finance Lenders Law. The same month, Land Line became aware of Bernal, after two OOIDA members read Land Line's report about advance fee finance companies and called in their complaints about Bernal.

 

OOIDA member Donny McCain paid The Funding Tree a $2,000 deposit Sept. 9, 2001, at the Great American Trucking Show in Dallas, for trailer financing. McCain never received the promised financing, but REB Express, the company where he was leased, put up the remaining $9,707 for the trailer.

 

OOIDA member Robert Kovalcin paid Integrity Group $8,795 in December 2001 for a down payment and fees for truck financing that never came through. After months of telephone calls and complaints, Kovalcin finally received $8,400 of his money back last month.

n          Rene Tankersley

 

http://www.landlinemag.com/Archives/2002/June2002/June2002.pdf

 

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 Will the Real Sean Wheeler Please Stand Up?

 

In the year 2000, Sean Wheeler and 1Lease were making the rounds of Leasing

Association Conferences, promoting this "franchise."  Wheeler actually became a "Certified Leasing Professional."  To say the least, he was quite controversial.

 

Since Leasing News has added over 1,500 readers since then, perhaps many have not heard of him nor understand the significance of his applying for an "application only lease" to what we are assuming is another lease broker

 

His father Ken Wheeler  is in the leasing business in Fresno, California

June 12,2001 he left it.  He evidently has been in the marine animal business before he went into leasing, as he stated  in a  leasing application Leasing News was asked as a "reference."

 

Leasing News has also received a report that Mr. Wheeler was on the Fresno TV News about this equipment, which we are investigating. Leasing News is also following up a report  concerning legal action taken by Commercial Equipment Lease in Eugene, Oregon.

 

To bring all readers up to date on this "Whatever Happened to" story, here are three re-prints from last June's Leasing News in chronological order.:

 

   Sean Wheeler says, " Bye-Bye, Baby" to Equipment Leasing

 

           Sean Wheeler Leaves the Leasing Business for "Wet Pets"

 

Dear Kit:

 

Steve Ballard who came to us in February of this year has taken over control

of One Lease, and the Franchise Group. Steve spent his last 6 years in the

Operations / Finance department with Michael's Floral the fastest growing

retail store chain in the West. We feel he brings a solid financial

background to the company which One Lease is in need of at this time.

 

 As One Lease has grown several issues have needed special attention that one leasing professional could not handle. Sean Wheeler felt it was time to turn the company over to a highly qualified individual that truly could propel One  Lease to the next level and beyond. Steve will take a much more active approach to the company staring with a booth and the UAEL annual conference in October.

 

Steve officially takes over July 1st. Sean Wheeler and his wife will be moving to the East coast in the next few months to expand there 3 store chain of Marine Pet Stores called "Wet Pets."

 

We wish him all the luck in the future!

 

Marilyn Delerio

One Lease Corporation

One Lease Franchise Corporation

800-996-7440

800-977-4666-fax

www.1lease.net

www.1leasefranchise.com

 

Dear Kit,

 

Yes, it is true I am leaving the leasing industry.

 

Steve Ballard has taken over as CEO of One Lease Corp. This will go into

effect on July 1st. I really think Steve will bring a strong Customer

Service platform back to One Lease.

 

 I think if One Lease has a knock it's that we can be slow at times. All issues aside we have always taken care of our approved brokers. And we have always been broker driven from the very beginning. many felt we were a super broker of some kind. That is an incorrect statement we are a funder with our own money.

 

 We are a funding source member of the UAEL(United Association of Equipment Leasing), & EAEL (Eastern Association of Equipment Leasing )and will have a booth at the Annual UAEL  conference in Texas this year. I really think that Steve and his new team with propel One Lease into the future as a major source in the industry.

 

With funding sources closing at a record pace One Lease has been a

consistence source for the industry.

 

Thank you

 

Sean Wheeler, CLP

1 Lease

 

 ( It is my impression One Lease Consultants sets up individuals in the leasing business, a franchise type operation, with procedures, manuals, and support, and treats the leasing business as a "retail" business or franchise with backing from the franchiser. Their website is "under development" .We hope to get more information about this fascinating approach to leasing. editor )

 

http://www.leasingnews.org/archives/June01/6-12-01.htm

 

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

1 Lease Corp.

800-996-7440

800-977-4666-fax

www.1lease.net

 

( 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 )

 

http://www.leasingnews.org/archives/June01/6-14-01.htm

 

 

Sean Wheeler/1lease National Association of Equipment Leasing Brokers

 

In reading your recent newsletter with the comments from Sean Wheeler About the NAELB, I felt that I must of course set the record straight. By no means do I wish to open up the entire issue, it is an issue that is done. I just want to respond to the comments made by Mr. Wheeler about the process. As to Mr. Wheeler's comments point by point:

 

1. "One Lease has never been a member of the NAELB." That is correct.

 

2. "Directional Funding was also never a member." That is incorrect. Directional Funding was a member, submitted under the name of Marilyn Delerio. However, once the EFG issue surfaced, a review of the membership application showed that Directional's membership was paid for with Sean Wheeler's American Express card. That was one of the factors that showed The relationship between EFG and Directional Funding.

 

3. [The sharing of office space] "is the entire reason for the NAELB thinking there was a connection between the two companies." There were many factors that were brought to my attention that showed similarities and connections between the two companies, not just one. One connection would not raise a suspicion, many connections would.

 

4. "We had separate phone and fax numbers from EFG throughout this time." This is incorrect, letterhead shows the same phone, fax and address. At One point in time, they may have changed but they were not different "throughout this time."

 

From the perspective of the NAELB, please be aware that one isolated similarity would not rise to the level warranting action by the NAELB. And in complete hindsight, if there had never been a problem with EFG, then there never would have been any issues with Directional Funding, Direct Funding.Net or One Lease. Also, any action taken is only taken by the full board of directors, not just me.

 

I am not revisiting this issue, just responding to the points Mr. Wheeler made as it pertains to One Lease.

 

Joe Bonanno

NAELB Legal Counsel

attyjgb@aol.com

(781) 391-7800

www.leasingissues.com

 

http://www.leasingnews.org/archives/June01/6-19-01.htm

 

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New Business-where is it?

 

    by Ron Caruso

 

Domestically, many leasing companies are confronted with

significant downturns in new business. Some leasing companies are

admitting new business is down by more than 30%, with no positive

signs of a turnaround in capital spending. This type of situation

can create nightmares-judgment starts to be too flexible or

creative, resulting in credit stretches. The proverbial "credits

with a story" are booked and later become collection horror

stories. The sad reality is there is nothing that can be done by

the leasing industry to turn this around. The captains of industry

must be convinced  industrial demand is rising and this demand

will be sustained. Absent that, the case for significant new

capital spending is weak.

 

(full article available at www.efj.com)

 

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always, your comments and suggestions are welcome.

 

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The Week Ahead June 17-21, 2002

 

May 17 Monday

 

Samuel A. DiPiazza Jr., global CEO of PricewaterhouseCoopers, speaks

at National Press Club luncheon on "Building Public Trust: The Future of Corporate Reporting."

 

Robert Parry, president of the San Francisco Federal Reserve Bank, speaks in Los Angeles on the outlook for the U.S. economy.

 

6/16-18

Business Technology Solutions Conference Philadelphia Marriott Hotel Philadelphia, PA  elaonline.com

 

6/17-19

Tax Executives Roundtable

Ritz Carlton Philadelphia, PA  elaonline.com

 

6/17-19

Principles of Leasing Workshop Hyatt Regency Baltimore Baltimore, MD

elaonline.com

 

May 18 Tuesday

 

The Senate meets to consider terrorism insurance legislation.

 

The Senate Banking Committee marks up a bill to reform accounting

practices.

 

Treasury Secretary Paul H. O'Neill speaks at the AOL Time Warner Money Summit in New York.

 

Economic indicators: Consumer price index, housing starts for May.

 

6/16-18

Business Technology Solutions Conference Philadelphia Marriott Hotel Philadelphia, PA  elaonline.com

 

6/17-19

Tax Executives Roundtable

Ritz Carlton Philadelphia, PA  elaonline.com

 

6/17-19

Principles of Leasing Workshop Hyatt Regency Baltimore Baltimore, MD

elaonline.com

 

May 19 Wednesday

 

6/17-19

Tax Executives Roundtable

Ritz Carlton Philadelphia, PA  elaonline.com

 

6/17-19

Principles of Leasing Workshop Hyatt Regency Baltimore Baltimore, MD

elaonline.com

 

May 20 Thursday

 

President Bush delivers a speech on development issues including HIV/

AIDS, education and trade

 

Pascal Lamy, the European Union trade commissioner, arrives in Washington for meetings with U.S. Trade Representative Robert B. Zoellick and other U.S. officials.

 

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Floating white cloud

          Against the new sky

            Summer is coming                  

                 -Al Gamper

 

http://www.cit.com/about_us/index.html

 

Economic indicators: Trade in goods and services for April, leading

 

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Tyco Plans to Repay $10 Billion of Debt in Next 6 Months

 

http://www.nyse.com/marketinfo/marketinfo.html?sym=TYC

 

By Rachel Layne, Bloomberg

 

Tyco International plans to repay $10 billion in debt in the next six months to help stabilize its credit ratings. It will use cash and all proceeds from a public offering of its CIT finance unit.

 

Chief Financial Officer Mark Swartz said on a conference call that Tyco will have $2.9 billion in cash at the end of the quarter. Tyco, the largest maker of undersea fiber-optic cable and electrical connectors, is seeking to raise $5.8 billion from CIT.

 

Tyco's stock has fallen 77 percent this year amid accounting investigations and doubts about its ability to pay debt. Tyco has $27 billion in debt, including $8 billion due through February. Moody's Investors Service Inc. this week cut Tyco's credit rating to junk, and Standard & Poor's Corp. said it may do the same.

 

"As things stand now, it's possible for them to hold their breath and squeeze by," said Charles Ronson, who follows high- yield debt issues at Tradition Asiel Global, including Tyco. "But this is a company effectively sans management, and that question won't be answered for six months and until it is, I don't see why this should be anything other than a high-grade junk."

 

Tyco ruled out spinning off CIT to shareholders because, unlike an initial stock sale or outright sale, a spin-off produces no proceeds to pay down debt. The $10 billion payoff also will come from the company's free cash flow, or profit from operations after dividends and capital expenditures, Swartz said.

 

"The company I think made a very good case that, assuming the CIT IPO goes well, and I think it will, that they are going to get back to investment grade," said Thomas Flaherty, who helps manage about $30 billion in fixed-income assets at Deutsche Asset Management. "I'm very bullish on CIT."

 

 

The sale of CIT is crucial to paying debt and restoring trust, said investors. The indictment of ousted Chief Executive Dennis Kozlowski for sales-tax evasion last week revived long-held suspicion that Tyco's accounting for hundreds of acquisitions hid slowing internal growth and liquidity problems, which Tyco denies.

 

Banks that hold about $530 million in accounts receivable securitizations are continuing to buy receivables, though that may change, Swartz said. Tyco may be forced to pay those back because of its junk rating. The company also is waiting to find out the status on about $223 million of yen-denominated notes, he said.

 

"We will do all we can to get back up to a more meaningful and appropriate rating level," Swartz said. Part of that includes refinancing and being able to access the bank and public markets.

 

If Tyco is forced to pay back the securitization, it would cost the company about $465 million, Swartz said. The $2.9 billion cash position includes the payment of $1.5 billion this quarter.

 

The debt pay down figure assumes Tyco gets $5 billion from the CIT, which Tyco bought for $9.5 billion last year. It has valued the unit on its books at $11.3 billion. Tyco took a $4.5 billion write down on the value and may write down more.

 

Lead Director John Fort and Swartz also said on the conference call that Tyco is seeking a "strong leader" with "integrity" to replace Kozlowski and the board is looking for new members. A search may take as long as six months, Fort said.

 

An internal investigation into purchases made by Kozlowski will take six to eight weeks. Tyco said it's reviewing all aspects of corporate governance, though it wouldn't comment further on Kozlowski or fired General Counsel Mark Belnick.

 

The Securities and Exchange Commission is investigating the disclosure of purchases made by Kozlowski. The agency also revived an investigation of how Tyco accounted for acquisitions, people familiar with the matter said. Tyco has said it isn't aware of an investigation except the one into Kozlowski.

 

Tyco also said its fourth-quarter earnings forecasts remain the same. It's expected to earn 61 cents a share, the average estimate from analysts polled by Thomson First Call.

 

The company said it plans to save $125 million annually by closing offices and cutting 115 corporate jobs. That doesn't include acquisitions personnel, Fort said.

 

CIT has been in the business of commercial lending and leasing since 1908. As a finance company, it needs to borrow money at low interest rates to keep making money on what it lends to customers. Its credit rating is now tied to Tyco's.

 

CIT was the first to offer financing to help people buy Studebaker cars early last century. It remained independent until 1980. CIT's owners over the past two decades included RCA Corp., Manufacturers Hanover Corp. and Japan's Dai-Ichi Kangyo Bank before a portion of the company was spun off to the public.

 

Lehman Brothers Inc. ended negotiations to buy the unit last month after word of the potential transaction leaked to the media.

 

The finance unit has distanced itself from its parent by dropping the Tyco name and selling asset-backed securities to pay off debt. Presentations to investors ahead of the IPO began, Tyco said. The company hopes to complete the offering the first week of July.

 

(In a telephone conference call to all CIT employees last Thursday,

CEO Al Gamper stated they were going ahead with the stock offering.

Estimates are they will raise $5 billion, half of the debt mentioned

in this story. There is no doubt the company is under valuated. As

an individual, I plan to buy some of this stock for our family trust

as I think it is a solid investment, and the company will have back

its original board of directors, has an excellent staff, understands

the financial market, and will return a steady earnings, perhaps

10% to 15% per year. Rumor has it a foreign financial institution

is interest in acquiring the company before the IPO.  Perhaps

they should buy some stock, instead, as I personally recommend

to readers. editor )

 

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American Equipment Finance LLC opens Scottsdale Office

 

Richard A. Baccaro announces the opening of AEF's new sales office

in Scottsdale, AZ.  The office will house up to 5 sales people and a

Lease Administrator.  AEF is headquartered in Warren, NJ and has remote

sales people in four states in addition to the new Scottsdale office.

The

office will be managed by Mark Cantarella.  Mark can be reached at

480-551-2627 or markc@aefllc.com <mailto:markc@aefllc.com>  (if he is

not on the golf course)

 

 

Richard Baccaro <rbaccaro@aefllc.com>

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Authors berate 401(k)s as a 'great hoax'

      

Ann Perry  San Diego Union-Tribune

 

 

All is not OK with the 401(k).

 

It's eight years and counting before the first wave of baby boomers – and the first large group of workers to rely heavily on 401(k)s rather than traditional pensions – reaches the retirement age of 65.

 

And the shortcomings of this do-it-yourself system are all too evident, according to the authors of a provocative new book called "The Great 401(k) Hoax: Why Your Family's Financial Security Is at Risk, and What You Can Do About It."

 

William Wolman, an economist, senior contributing editor at Business Week and commentator for CNBC, and journalist Anne Colamosca say that the problems inherent in the 401(k)-driven retirement system were not readily apparent during two decades of rising stock prices.

 

During the stock market boom, the 401(k) handily met the interests of large companies, Wall Street and politicians, because in theory it allowed workers to share in the good fortune. But, in fact, most workers have amassed very little in 401(k) savings.

 

"The hoax promised people they would benefit from the great stock market boom, that the stock market would save them from the horrors of Social Security," Wolman says.

 

Colamosca, who has interviewed workers with small amounts in 401(k)s, says, "I just don't think it's hit a lot of people that they won't be getting a pension."

 

In this post-9/11, post-boom era symbolized by the collapse of Enron and the vaporization of its employee retirement plans, Wolman and Colamosca believe the outlook for corporate profits and the stock market could be bleak for a number of years.

 

They note that following major market blowouts in the 1920s and the 1960s, it took more than a decade for stocks to rebound.

 

Thus, the authors foresee a gloomy future ahead for most retirees and for the nation – unless workers begin to tune out Wall Street and take more responsibility for their own retirements.

 

Here's what they see as the major problems with how 401(k)s work in the workplace:

 

Rather than benefiting the average American worker, these retirement savings plans are set up to benefit corporations, because they cost less than traditional plans, and Wall Street, which supplies the investments. Typical employees have little control over how their 401(k)s are set up and how they can invest their money.

 

Despite the recent unprecedented prosperity, they note, half of Americans have less than $14,000 in their 401(k) plans.

 

Companies can take away what they give. They provide 401(k) and other retirement plans voluntarily, as well as any matching funds. The authors note that declining profits last year prompted such major corporations as Daimler-Chrysler, Bethlehem Steel and Wyndham International to cut back contributions to workers' 401(k)s.

 

Many employees don't participate in 401(k) plans. And among those who do, many end up spending what they save when they leave the company, rather than rolling the money over into an individual retirement account.

 

Most 401(k) savers are not sophisticated investors. They don't follow the stock market or hire financial planners to help with their retirement planning.

 

The statements that employees receive from their plans give limited information and can be difficult to understand.

 

Employees may feel pressured to invest in the stock of their companies, resulting in an unhealthy concentration of stock in one company.

 

Wolman and Colamosca say only Washington can make the necessary 401(k) reforms. However, any solutions could be successfully opposed by the powerful financial services industry.

 

Will companies ever go back to the traditional defined benefit retirement plan? "It just isn't going to happen," says Wolman. "We're stuck in a situation and people are going to have to understand it better."

 

But the talk of reviving the Social Security system by having workers invest some of their contributions on their own has died down with the break in the high-tech stock bubble. "That looks like a nonstarter," says Wolman. "That notion wouldn't stand up under scrutiny."

 

The best approach for American families is to learn to make the most of their 401(k) plans.

 

Here's what the authors suggest:

 

Tune out the Wall Street "pros." While Wall Street forecasters say stock prices won't surge ahead like they did in the 1990s, they nevertheless project returns of about 7 percent per year over the next decade.

 

But history suggests that after a market bubble like the one in the late 1990s, returns are likely to be meager. The authors predict no more than 2 percent, after inflation.

 

Fixed-income investments will be king. During this period, core investments should be in bonds, not stocks. Wolman and Colamosca recommend I bonds, or inflation-adjusted bonds, issued by the U.S. Treasury.

 

Minimize the cost of investing. During periods of low investment returns, it's especially important to keep the costs of expenses low. To achieve this, invest using low-cost index funds that match the returns of basic indexes of stocks and bonds and rely on mutual funds with low administrative and trading costs, such as Vanguard and TIAA-CREF.

 

Start 401(k) clubs. Wolman suggests that, just as people created investment clubs in the 1990s, co-workers should get together to learn more about how their retirement plans work and how they can make corporate management more sensitive to their needs.

 

In an ideal world, there would be 401(k) advocates, just as there are advocates for hospital patients or the elderly. These advocates would look at individual plans and try to correct what was wrong.

 

Americans must begin to save more and borrow less from their 401(k)s.

 

Finally, the authors say, American workers need a 401(k) Bill of Rights. It would include, for example, the right to buy and sell company stock freely, a right that many Enron employees no doubt wish they could have exercised.

 

Ann Perry can be reached at moneyperry@aol.com.

 

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Dog Attack Judge Orders New Trial

 

By Kim Curtis

Associated Press Writer

 

SAN FRANCISCO –– A judge threw out a second-degree murder conviction Monday against Marjorie Knoller in the 2001 dog mauling that killed a neighbor, but let stand involuntary manslaughter convictions against Knoller and her husband, Robert Noel.

______________________________________________________________

 

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Omtool Adds Leading E-Form Provider Create!form International as Premier Channel Partner; Create!form to Add Genifax Enterprise Fax to its Software Offerings

 

 

    SALEM, N.H. & WALTHAM, Mass-- Omtool, Ltd. (NASDAQ: OMTL), a leading provider of secure document delivery applications, today announced that Create!form International has been named a Premier Channel Partner. Under the terms of the agreement, Create!form International will add Omtool's Genifax(TM) enterprise fax application to its inventory of products that enable organizations to manage and distribute customized e-forms for tasks such as purchase order processing and invoicing.

    "Create!form is a proven worldwide leader in output formatting and delivery, and Omtool is proud to add them as a Premier Channel Partner," said Jim McMahon, Omtool's director of sales. "The alliance between Omtool and Create!form is ideal because our companies share a common goal of helping businesses leverage electronic communication to manage and deliver vital business information."

    Create!form International's products expand functionality and e-enable document processes without requiring changes to existing software applications, increasing efficiency and reducing costs. With the addition of Genifax, Create!form clients who rely on high-volume forms processing via fax will benefit from enhanced administrative flexibility and scalability, as well as features such as secure, authenticated delivery, detailed transaction logs and multiple fault-tolerant configurations.

    "Facilitating the documentation, delivery, and interchange of business transaction information is essential for every business today, and Omtool has established itself as a clear leader in this space," said Kurt A. Mueffelmann, president and CEO of Create!form International. "This alliance is sure to strengthen and enhance the relationships we share with our current clients, and will also open the door for new opportunities that revolve around the efficient electronic delivery of business documents."

 

    About Omtool's Channel Partner Program

 

    The Omtool Channel Partner Program provides its partners with the knowledge and resources necessary to implement and manage secure document delivery applications. In addition to comprehensive sales expertise and technical support, Omtool offers training on the installation and operation of its software. Omtool's products are ideal for network integrators and resellers who want to enhance e-mail and fax messaging functionality to extend their inventory. For more information, visit www.omtool.com/resellers.

 

    About Omtool, Ltd.

 

    Founded in 1991, Omtool is a leading provider of enterprise applications that enable secure document exchange. Businesses utilize Omtool products to enhance communication channels such as e- mail and fax so they can benefit from the reduced costs, streamlined workflow and speed inherent in electronic document delivery. Omtool's software integrates with existing messaging systems to add features such as digital signatures, encryption, authentication, audit trails and delivery notification. Because paper remains an integral part of many business processes, Omtool also provides technology that incorporates electronic delivery, security and billing functionality into industry-leading multifunction and scanning devices. Based in Salem, NH, with offices in Oregon and the United Kingdom, the company can be contacted at 800-886-7845 or www.omtool.com.

 

    About Create!form International

 

    Founded in 1987, Create!form International develops and markets a full suite of electronic form and document management systems that provide powerful output and delivery capabilities for businesses ranging from small desktop accounting packages to large scale ERP applications. This software enables companies to streamline their document management processes and reduce their reliance on pre- printed paper forms. Create!form's solutions can be implemented quickly, without the need to reengineer existing systems. With headquarters in Waltham, Massachusetts, USA; and regional offices in the United States, Europe and Asia Pacific; the company boasts an extensive partner network that supports customers in a variety of markets including manufacturing, distribution, health, government, finance, insurance, and education. Create!form has over 3,000 customers worldwide including Hallmark Cards, Farmers Insurance, Baxter Healthcare, Dow Chemical and Harley Davidson. For more information, visit www.createform.com.

 

    --30--mb/bos*

 

    CONTACT: Omtool, Ltd.

             Grant Sanborn, 603-328-1433

             press@omtool.com

                or

             Create!form International

             Irena Mroz, 781-487-6799

 

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       Leading Lease Accounting & Portfolio Management Software Now Available as Managed Service from   IntegraLease

 

IDS’ InfoLease Managed Service is Affordable Solution for All Lessors

 

                                                       

 

                                                       

 

  MINNEAPOLIS, Minn., —International Decision Systems, Inc. (IDS) – the global leader in leasing and sales management

 software systems – announced late last week during its annual user conference that it has signed an agreement with IntegraLease, a managed

 service provider, to deliver IDS’ InfoLease as a managed service option.  Now virtually any lessor, regardless of size or complexity of portfolio,

 can afford the lease accounting and portfolio management software used by more lessors around the world than any other.  IntegraLease is a

full-service managed service provider founded by leasing professionals with 15–20 years of practical, daily experience using InfoLease in actual         industry settings.

 

                                                       

 

According to IDS group CEO Jim Meinen, “The Managed Service option truly broadens the market for InfoLease by enabling any lessor to take

full advantage of it without the start-up and training costs and support and maintenance requirements of ownership.  For smaller lessors,

businesses just starting out in leasing, or businesses that no longer need a back-office leasing infrastructure due to changes in business strategy,

 

 InfoLease Managed Service is an attractive option.”

                                                  

 

   InfoLease Managed Service completely manages leases throughout their life cycle after IntegraLease enters lease data into their servers,

 essentially freeing up the lessor’s back-office infrastructure expenses for increased cash flow and investing in business development.  Lessors

  may choose any number of functions that they want IntegraLease to manage – lease accounting, billing, cash management, even customer

service – all for a single, monthly fee that meets their budget requirement and eliminates risk.

 

     InfoLease Managed Service Functions

 

         Monthly billing

         Payment processing

         Cash management

         Property and sales/use tax processing

         UCC filings

        Collections

        Customized portfolio reporting on a weekly or monthly basis

         Customized customer letters

 

 Toll free “800” customer support and on-line account access for subscriber’s customers

 

    24x7 technical support

 

 

 

For more information about IntegraLease’s Managed InfoLease Service, call IntegraLease at 317.251.5352 or visit www.integralease.com or call

IDS at 612-851-3200 or visit www.idsgrp.com.

 

 

 

About International Decision Systems

 

With nearly three decades of industry-specific expertise and track record in leasing accounting, International Decision Systems (IDS) is the global

market leader in developing lease accounting, portfolio management, and wholesale/floorplan financing software and services. Over 500

independent, bank-related, captive leasing and financial services companies worldwide use IDS’ stable, scalable and robust end-to-end lease

accounting software to streamline and automate the entire leasing life cycle.  Lessors also use IDS’ software to leverage the Internet’s speed and

flexibility for improving service to customers, achieving greater internal efficiencies and closing deals faster.

 

 IDS also has the industry’s largest global consulting, implementation, technical support organizations that provide incomparable service from

offices located in from offices in the United Kingdom, North America (Boston and Minneapolis), Australia (Sydney), and Southeast Asia

(Singapore).

 

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