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Kit Menkin’s Leasing News www.leasingnews.org Monday, March 4, 2002 Headlines-- Support for Bob Fisher/Scott Anderson United Association of Equipment Leasing Postpones Two Funding Retreats Major business events and economic events scheduled this week NAELB Help Desk Now Available Daily Classified Ads at Leasing News are not only FREE, but they WORK Bill Graneri’s Top Gun Seminar Series Streamlined Sales Tax Project ### Denotes Press Release “When you look up either "good guy" or "salesman" in the dictionary, you will find a picture of **********. ************ always has a smile on his face and the salesman's positive attitude that the cup is half full instead of half empty. The only place you cannot trust ***** is on the golf course. His handicap is a 2, not the 19 he claims when the bets are placed.” Charlie Lester, LPI Financial Whatever Happened to....feature this Wednesday ______________________________________________________________ Firerock Capital in Formation---Fisher Anderson Winds Down Leasing News reported on Wednesday that Bob Fisher was going to resign and start a new company. http://www.leasingnews.org/Conscious-Top%20Stories/BobFisher.htm An official press release was issued by MarCap on Friday. Kit, MarCap
Holding's release is quite accurate.
Mr. Anderson and the senior staff of FA are in fact diligently
working on a smooth shut down of FA as indicated in the release. I
am in the process of formulating my future plans and exploring a number
of options, none of which are finalized. Bob
Fisher (
e-mail now working ) ################# MarCap to Cease Originations at Fisher-Anderson
LLC. Chicago-March
1, 2002 MarCap
to Cease Originations at Fisher-Anderson LLC. Chicago,
Illinois, March 1, 2002--MarCap Holdings announced today that it is
ceasing originations at its Fisher-Anderson leasing unit. The company
will continue to process the existing approved backlog and service
its existing portfolio. Fisher-Anderson,
which is based in Des Moines, Iowa, is a small ticket leasing company
with 40 employees. Fisher-Anderson
President Bob Fisher has resigned and plans to form a new leasing
company. The rest of management remains. Scott Anderson, who is executive
vice president, will run Fisher-Anderson. "It's
no secret that the economy has taken a toll on the leasing industry,
and Fisher-Anderson is no exception," says John Wellhausen, Executive
Vice President for MarCap. "We plan to focus on our core medical
financing business, which has grown considerably in recent years and
has proved to be a very successful market for MarCap." ##############
Mr.
Fisher continues as president of the United Association of Equipment
Leasing. A highly reliable
source has told us he has lined up some key investors, and due to
his reputation in the industry, has had no difficulties obtaining
investors or bank lines of credit. Another
highly reliable source told Leasing News MarCap had closed their San
Diego office due to huge portfolio losses on ATM machines, a Bank
of Montreal $1 million dollar payment, and with a new president,
is re-evaluating their plan to fund or take any leasing credits. It
is these other troubles, the increasing cost of funds, which lead
to Mr. Fisher’s resignation. Leasing
News hopes to have an exclusive when Mr. Fisher finalizes his new
company and future options. Please
stay tuned. ---- Regarding
MarCap, this comes from their website: http://www.marcapcorp.com For
more than 30 years, MarCap has provided financing to a wide range
of companies and industries. Today, our Direct and Indirect business
groups focus on medical and telecommunications projects. Our Direct
Group works mostly with medical equipment vendors, imaging centers,
surgery centers and hospitals. MarCap’s Indirect Group handles
financing for other financing companies, banks and brokers, while
Fisher-Anderson handles small ticket leasing and financing for a wide
variety of clients. For more information on each business segment,
please click on your area of interest to the left. Fisher-Anderson Fisher-Anderson, L.C.
is a small ticket leasing company based in Des Moines, Iowa. Founded
in 1995, Fisher-Anderson has three U.S. offices and a division in
Columbia, South Carolina that specializes in commercial vehicle financing. Specializing
in transactions ranging from $5,000 to $150,000, Fisher-Anderson has
carved a niche as a service-oriented and progressive funding source.
Its latest innovation is FA-NET, an e-business solution for the leasing
industry. Fisher-Anderson MarCap's
indirect originations group handles financing and leasing transactions
for the medical and telecommunications markets. With more than 30
years of experience, we know how to get difficult transactions done. The
indirect group is funding transactions within the following guidelines. Deal
Size: Unlike
most financing companies, MarCap specializes in finding ways to get
difficult transactions done. And we work hard to understand your business,
because to us, you're a lot more than a balance sheet and a business
plan. We
handle a broad range of credits, including start-up imaging centers
and surgery centers with limited or no recourse, as well as established
hospitals and clinics. Typically, we fund transactions between $500,000
and $5 million. Ron
Stone Terry
Gill Ken
Seip Mark Whaley Support for Bob Fisher/Scott Anderson "Bob Fisher and Scott Anderson are two of the most honest and straight forward people that I have ever met in this business. This is both my personal opinion and my professional opinion of them. Bob stepped up to purchase our portfolios after Textron closed down. He said he could do business the way we needed it to be done and both he and Scott delivered. Whatever he does next, Firerock, Badrock, Slippery Rock, whatever; I hope that I can help him get it off to a roaring start"
And you can absolutely quote me on that
Bob Rodi __________________________________________________________________ If
you are a Bob Fisher supporter, let us here from you. Please
also pass this on to a friend, as we all would like to help
Bob out. editor ___________________________________________________________ United Association of Equipment Leasing Postpones Two Funding Retreats The Funding Retreat for Dallas the end of this week on March 8 and Philadelphia ,originally scheduled for March 22, are being postponed. A new date and official announcement will be made soon, according to Joe Woodley, CEO of UAEL. It is most likely the Dallas meeting will be held in July and Philadelphia meeting in November, plus expanded from meeting funding sources, education classes, to a “mini-conference,” with full board of director interaction. Both “funding retreat” meeting plans are in progress and not finalized. Registration will be available soon on line at www.uael.org for the joint UAEL and Eastern Association of Equipment Leasing Spring Education Conference to be held in Las Vegas, May 2-4 at Caesars Palace. http://www.caesars.com _______________________________________________________________________ Major business events and economic events scheduled this week By Associated Press, Major business events and economic events scheduled for the coming week (some dates are tentative; times, where known, are Eastern time): MONDAY, March 4 WASHINGTON Treasury bill auction, 2 p.m. TUESDAY, March 5 Nothing scheduled. WEDNESDAY, March 6 WASHINGTON Commerce Department reports on factory orders for January, 10 a.m.; Federal Reserve releases survey of regional economic conditions known as the Beige Book, 2 p.m. THURSDAY, March 7 WASHINGTON Labor Department reports on weekly jobless claims, and quarterly productivity, 8:30 a.m.; Federal Reserve reports on consumer credit for January, 3 p.m.; Freddie Mac, the mortgage company, reports on mortgage rates. WASHINGTON Federal Reserve Chairman Alan Greenspan testifies about monetary policy before the Senate Banking, Housing and Urban Affairs Committee. The nation's largest retailers report their sales figures for the month of February. FRIDAY, March 8 WASHINGTON Labor Department reports on employment for February, 8:30 a.m. ----------------------------------------------------------------------------------------------------- National Association of Equipment Leasing Brokers Help Desk Now Available Daily This is another feature for NAELB members, besides the very popular listserve where members go on line with specific transactions looking for advice of which funder to submit the transaction.
“In September we implemented the NAELB Help Desk. Dee DiBenedictis, who currently sits on the NAELB Board, handles the Help Desk requests, “ said Mike Meacher, president. “Initially the Help Desk was available only two days a week. In order to better server our members the line is now available Monday through Friday from 10:00 am to 5:00 pm. Voice mail messages can be left at anytime. “The toll free number is 866-NAELB71 or 866-623-5271. “In addition, members can email the Help Desk at helpdesk@naelb.org 24 hours a day, “ Meacher added. Inquiries regarding general association information, such as membership info and renewals, conference and meeting schedules, etc. should be directed to the main NAELB office at 800-996-2352. The Help Desk should be called only for questions and issues that need to be addressed to a peer in the industry and is for NAELB members only. “Don't forget about ListServe as a place to go for help and information also, “ Meacher said. “It has proven to be a very valuable tool, giving our members access to some of the best minds in the industry - other members! We have seen countless questions answered quickly and many deals come together because of questions posted on ListServe.” Meacher said there were many benefits for members including special Airborne prices, telephone, and other small company needs. “ Our members also have this resource available of contacting any one of our Board of Directors, whose contact information is readily available on our website www.naelb.org r through the NAELB office, “ he added. “We are happy to field questions and assist when they can. Also, the contact information for our entire membership is posted on the NAELB website. “ “We are the fastest growing leasing association, and now the second largest, “ he concluded. “We always encourage our members to call each other when the need arises to ask a question or share an experience.” “Kit, don’t forget to plug our conference in Orlando, April 11-14th.” Both information and registration is available on line at: http://64.82.65.38/events.shtml Any current member of Equipment Leasing Association, Equipment Leasing Association or United Association of Equipment Leasing may attend at the NAELB member price. If a non-member joins, $150 credit goes toward membership dues. __________________________________________________________________ Classified Ads at Leasing News are not only FREE, but they WORK Hi Kit, I'd like to request that you remove my ad from the leasing news. I just accepted a position this week with a leasing company. I would not have been given the opportunity if not for your classified section. I am very grateful. You are doing a great job. Thank you. Twenty Job Wanted Ads
24 Help Wanted Ads http://65.209.205.32/LeasingNews/JobPostingsWanted.htm 10 Outsourcing Ads http://65.209.205.32/LeasingNews/JobPostingsOutsourcing.htm 3 Attorney Ads http://65.209.205.32/LeasingNews/JobPostingsAttorney.htm 5 Recruiter Ads http://65.209.205.32/LeasingNews/Recruiters.htm Other Internet Job Posting Sites: http://65.209.205.32/LeasingNews/Classified.htm Bill
Graneri’s Top Gun Seminar Series Leasing
Market Strategies www.granieriassociates.com Seminar
Dates and Cites East ( Mon, Mar 11, 2002 - Boston, MA ( Frid, April 5, 2001 – Balt, MD / Wash, DC South ( Mon, April 22, 2002 – Atlanta, GA ( Mon, May 20, 2002 – Tampa, FL Midwest ( Mon, May 6, 2002 – Minneapolis, MN ( Mon, May 13, 2002 – Omaha, NE ( Mon, June 10, 2002 – Chicago, IL West ( Mon, Mar 4, 2002 - Seattle, WA ( Mon, Mar 18, 2002 - Phoenix, AZ ( Mon, June 17, 2002 – Los Angles, CA à Topic: Lease Marketing Strategies. à Time: 9:00 - 4:30 PM à Cost: $200.00 for one person or $175.00 per person for
two or more Streamlined Sales Tax Project The next meeting of the Streamlined Sales Tax Project and of the Sales Tax Simplification Implementing States will be held on Thursday through Saturday, March 14-16, 2002 in Dallas, Texas. The Streamlined Sales Tax Project (SSTP) meeting will begin at 8:30 am on Thursday and conclude at 1:00 pm on Friday. The session will focus on continuing work on various projects now underway, including definitions, uniform forms and other issues as well as continued development of relevant issue papers. A more complete agenda will be available soon. Delegates to the Sales Tax Simplification Implementing States will meet beginning at 2:00 pm on Friday, March 15 and conclude by mid-afternoon, Saturday, March 16, 2002. The session will be devoted to a continuing review of the issues in developing an interstate sales tax agreement, with a focus on issues related to developing a common definition of food. Both of these meetings will be held at the Le Meridien Hotel located at 650 North Pearl Street, Dallas, Texas. A block of rooms has been set-aside at the hotel. To make your reservations, call 214/979-9000 and ask for the Federation of Tax Administrators Streamlined Sales Tax room block. The rate is $89 single/$109 double per night plus tax (currently 15 percent). The cut-off date for making reservations is February 18, 2002. Rooms have been blocked for Wednesday through Saturday evening. There will be a registration fee for each of these meetings. The fee for the Streamlined Sales Tax Project meeting is $175; the fee includes a continental breakfast and lunch on both Thursday and Friday. Breaks will also be provided. The fee for the Implementing States meeting is $150; the fee includes lunch on Friday, and a continental breakfast and lunch on Saturday. Breaks will also be provided. Persons attending both meetings are required to pay a fee of $300. You are encouraged to register (and pay if you wish) online at <http://www.taxexchange.org/meet/0302sales.taf>. Registration form for the Streamlined Sales Tax Project and of the Sales Tax Simplification Implementing States to be held on Thursday through Saturday, March 14-16, in Dallas, Texas. If at all possible, you are encouraged to register (and pay if you wish) online at <http://www.taxexchange.org/meet/0302sales.taf Dennis Brown DBROWN@ELAMAIL.COM |
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