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Kit Menkin’s Leasing News Tuesday, March 12, 2002 www.leasingnews.org Independent, unbiased and fair news about the Leasing Industry -------------------------------------------------------------------------- Headlines---- Commercial Money Center Closing Reaction 128 Employees Out of Work---Classified May Help ELA Says President Bush Signed Their Endorsed Tax Measures Ofek Capital Comes to the United Sates BancLease Launches Redesigned Web Site
Funder OnLine, becomes CYENCE INTERNATIONAL “... more than 190 banks in 34 different states are using the BancLease program for leasing”
Tuesdays—Odds and Ends ### Denotes press release _____________________________________________________ Commercial Money Center Closing Reaction Conrad and Associates has been in business for many years as Bill Hanson’s private funds. (Even heard it used to be a broker itself?) He sent me a check from Conrad and Associates about two years ago when CMC was lagging on a funding to "make it all better"... Jeff Beier - North American Capital --- Your choice of words - unfortunately is correct. I am sorry to see CMC go. It is also very unfortunate that sometimes in this business we do not know who to "believe" If brokers would just realize that we all win when we work together, this business would be really super. Thanks for your reply and for the time, effort and all the phone call(s) you make to keep the industry informed. It certainly must be very time consuming but apparently rewarding to you. We appreciate you and your hard work. Sincerely, MJ Reynolds BBB
Reliability Report Commercial
Money Center Inc General
Information
The
information in this report has either been provided by the company,
or has been compiled by the Bureau from other sources. BBB
Membership
On
January 23, 2002, this company's membership in the BBB was revoked
by the BBB's Board of Directors due to failure to eliminate the underlying
cause of complaints on file with the BBB concerning difficulty in
receiving a refund, non-receipt of funding and difficulty in contacting
the company. In addition, the company did not respond to several consumer
complaints brought to its attention by the Bureau. Nature
of Business
This
company offers wide range of equipment leasing specializing in B or
C credit. Customer
Experience
Based
on BBB files, this company has an unsatisfactory record with the Bureau
due to a pattern of complaints. The company has resolved some complaints
presented by the Bureau; however, some complaints remain unresolved.
Complaints are concerning difficulty
in receiving a refund, non-receipt of funding and difficulty in contacting
the company. In addition, BBB files show no response to several consumer
complaints brought to its attention by the Bureau.
When evaluating complaint information, please consider the company's
size and volume of business. The number of complaints filed against
the company may not be as important as the type of complaints and
how the company handled them. Closed
Complaints
------- With short notice of the closing I expect there is a lot of leasing talent in Escondido wondering what is next. Our offices are about 15 miles from the former CMC headquarters (we are located near Callaway Golf in Carlsbad) and we are currently hiring for three positions in our Vendor Service Division. Additionally, we are hiring for 2 positions in our direct marketing department. For more information interested parties should contact Neil Clark at (760)438-1470 Ext. 209 or visit our website at www.ilslease.com for a job description. Andrew S. Nere ils@ilslease.com Innovative Lease Services, Inc. 5937 Darwin Court, Suite 103 Carlsbad, CA 92008 (800)438-1470 Ext. 204 Bill Hanson let 128 people go at three offices: Escondido, Las Vegas, and their office in Florida. He held on as long as he could. Leasing News also has a “Help Wanted” Section http://65.209.205.32/LeasingNews/JobPostingsWanted.htm 25 ads---We have reports that they work, including Arizona and non-metropolitan areas. http://65.209.205.32/LeasingNews/JobPostings.htm 21 People Listed Who are Job Searching Asset Management: Silicon Valley, CA Experienced
Asset Manager with SMT/PCB equipment focus. Managed/sold large ticket
mid- term and EOL transactions with global contract manufacturer and
OEM accounts. Email:boklund9@earthlink.net Asset Management: Nashville, TN Experienced Asset Manager with construction/ telecom focus. Managed portfolio of repo & EOL transactions for large leasing companies. 10 years experience including sales & credit/ collections focus. Email:jambam2000@home.com Contract Administrator: San Diego, CA work-at-home
position to perform processing & documentation. 5+ years small
ticket arena, used to handling a 25-30 deal workload. You do the sales,
I'll do the rest. Email:jmccorman@hotmail.com Credit: Mill Valley, CA Senior corporate officer with financial services credit background. M and A, fund raising and workout expertise. Email:nywb@aol.com Credit: Hayward, CA. Versatile/
creative senior financial executive w/ extensive experience in varied
areas of the commercial lending environment. Strong written/ oral
skills with a results-oriented team-player attitude. Email: daveschultz9@aol.com Finance: Atlanta, GA Twenty five plus years experience in middle market lease/ asset based/cash flow transactions. Heavy banking and credit background, with particular expertise in structure and negotiation. Email:brown235@bellsouth.net Funding: Northern, NJ Coordinate
all aspects of financing for leased equipment, prepare necessary documentation
for discounting with banks. Handle renewals of and amendments to lease
schedules. Email:istaub@unicapitalcorp.com Legal: Chatsworth, CA Managing attorney for general corporate and financial services law including: leasing, acquisitions, service agreements, commercial loans, securitizations, workouts and litigation. Email:SandiDQ@msn.com Sales: Mission Viejo, CA Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base. Email:makelly21@hotmail.com Sales: Phila, PA Proven Aggressive Winner w/strong prospecting skills, vendor program exp. both captive/non- captive, territory mgmt on all levels, remote office for many years, very adaptable. Email:jppa100@cs.com Sales: Louisville, KY I have been in leasing/financing of construction, machine tool, and mfg equipment for 20+ years. Traveled KY, IN, OH and TN. Email:kyle90@msn.com Sales: Boston, MA Boston, MA (big Patriots' fan) Senior Sales person, 15 years experience, strong vendor program background, middle market concentration Email:smillard27@juno.com Sales: Minneapolis/St. Paul, MN 6+
years experience in small & large ticket leasing. Current customer
database. Seeking a position that will utilize my prospecting, structuring
and presentation skills. Email:golfadm@yahoo.com Sales: Silicon Valley, CA VP level Business Development and Sales Manager, well connected in Silicon Valley. Experienced in major vendor programs on a global basis. Email: Tadadzn@ix.netcom.com Sales: Oklahoma City, OK 20
years sales and marketing experience. Aggressive but relationship
selling technique, proven success record, want to work out of home
office, will travel if necessary Email:jammoon@earthlink.net Sales: Bakersfield, CA 50%-60% Com./Biz Dev. Associate, disciplined/ self motivated exp. in equipment leasing. Strong A & D funder for variety of under $50K ticket items. Email:dan@e-capitallease.com Sales Manager: Hartford, CT Director
of Equipment Lease Division with credit/collateral evaluation, marketing
& operations experience. Simultaneously coordinated efforts to
develop new vendor business. Email:pkumiega@peoplepc.com Sales Manager: Atlanta, GA 15 years experience in Small Ticket Vendor Leasing. Managed sales team for eight years in Copiers, Telecom, IT, Construction, Auto Aftermarket, etc. Email:jim_acee@hotmail.com Sales Manager: New York, NY I
have over 25 years owning an independent leasing company that specialized
in truck leasing. Tow trucks, Limos, ambulances, tractors, etc.. Email:rfleisher@rsrcapital.com Senior Management: Hicksville, NY Senior equipment leasing and banking executive with credit, collections, marketing and operations experience. Background includes development of new business, risk management and budgeting. Email:FrdA4@aol.com Syndicator: Wilmington, NC Ten years experience/contacts placing debt & equity for middle market end-users for transactions $75K - $10MM. Can relocate or telecommute. Email:ccrllc@yahoo.com Ten Outsourcing Jobs Sought http://65.209.205.32/LeasingNews/JobPostingsOutsourcing.htm Three Attorneys http://65.209.205.32/LeasingNews/JobPostingsAttorney.htm Six Recruiters Specializing in the Leasing Industry http://65.209.205.32/LeasingNews/Recruiters.htm Other places to post an job wanted ad or search for help wanted: http://65.209.205.32/LeasingNews/Classified.htm ### ########################################## BUSH
SIGNS STIMULUS PACKAGE WITH ELA ENDORSED PROVISIONS
On
Saturday, March 9th, President Bush signed into law "The Job
Creation Equipment
Leasing Association Endorsed Provisions: The
stimulus measure contains 3 provisions endorsed by ELA: *it
establishes a 30% depreciation "bonus" for qualified capital *it
extends from 2 years to 5 years the carry back period for net *it
extends the exceptions under Subpart F for active financing
(Note
that the above website link to Thomas is a temporary link ---- #### ################################### Ofek Capital Comes to the United Sates
TORONTO--( --Ofek Capital Corp. (Pink Sheets:OFCC) announces it has retained the New York City law firm of Mintz & Fraade, P.C., and the Toronto accounting firm of Solursh Feldman and Partners, LLP. Ofek Capital is working closely with these attorneys and accountants to prepare a registration statement and documents necessary to become listed on the OTC Bulletin Board. Mr. Shalom Romm, CEO and Chairman of Ofek Capital notes, "We are pleased to have been able to engage the services of these renowned firms. Mintz & Fraade is a boutique legal group that specializes in corporate and securities law. They have an AV rating from Martindale Hubbell which is the highest rating given by Martindale Hubbell. Mintz Fraade will be preparing our registration statements and a private placement memorandum for an offering of up to $5 million. Solursh Feldman and Partners, LLP, are well-known SEC approved Chartered Accountants and will be preparing our financial audit and financial statements". ABOUT OFEK CAPITAL Ofek Capital is a North American financial services company that operates within the sub prime market. Ofek has identified the sub prime market as the most lucrative niche in the financial services industry. Ofek Capital has four subsidiaries: AJM Leasing, AmeriCan Factoring, Mortgage Bankers of North America, and SecondaryMarkets.com. -- Ofek leases used cars through its Ontario subsidiary, AJM Leasing. -- AmeriCan Factoring expects to offer factoring and asset based lending in Canada and the U.S. -- Mortgage Bankers of North America, a California subsidiary, will soon offer traditional mortgage banking services in 24 states. -- SecondaryMarkets, California based, is developing a proprietary, patent pending, automated submission and lending approval software system. It will be state of the art and capable of generating immediate loan approval from multiple loan providers http://www.OfekCapital.com CONTACT: Emerson Gerard Associates, Boynton Beach, FL Jerry Jennings, 561/964-3124 Fax: 603/806-8508 ofcc@investor-marketing.com #### ########################### Another example that funders and super-brokers are after regional and community bank business---margins and profits as they claim their Fair-Issac or credit programs will chose only the best—no story credits: #### #################################### BancLease Launches Redesigned Web Site
SIKESTON, Mo.---- Easy access and navigation for bankers BancLease, a lease consulting service that helps community banks develop an in-house leasing program, announced the launch of its redesigned Web site. Created exclusively for bankers, the site provides useful information about how the BancLease program can serve banks' needs. The site is located at www.banclease.com. The BancLease Web site was reconstructed by Creative Design Group to provide bankers unfamiliar with the leasing alternative a complete overview of the leasing industry. The site offers an example of how the leasing concept can be a unique, flexible and profitable credit product for banks. It portrays how a small community bank located in a predominantly agricultural area with little growth potential developed a leasing product that now provides the bank with its highest credit yields, a good non-interest income stream and a competitive advantage. The bank's leasing portfolio now exceeds $18 million, which represents 20 percent of its combined portfolios. It has the largest community bank leasing operation between St. Louis and New Orleans. According to Britt McConnell, director of BancLease, the main objective in redesigning the Web site was to provide community bankers with valuable information about the products and services BancLease has available to assist them in starting their own lucrative leasing program. "We wanted to provide information necessary for a banker to determine if leasing was a viable option for his or her bank in an easy to use format," McConnell said. "Bankers searching for leasing information can easily access our site. For instance, if a banker types the words `bank' and `lease' into a search engine, our site will appear as one of their viewing options. Once bankers are at the site, they can simply navigate through it to find all the information they need." The redesigned Web site features a description of the BancLease solution, a mathematical example of how leasing can increase the bank's bottom line, types of leasing, bank and customer leasing benefits and related information in an easy-to-navigate fashion. Also included are testimonies from bankers using the program and a way to provide BancLease feedback about the program online. About BancLease BancLease is a lease consulting service for bankers that was created by First Security State Bank in Charleston, Mo. in 1993. It was designed to help other community banks develop an in-house leasing program. The program provides a turnkey solution that allows banks to lease equipment for commercial, agricultural, and municipal customers and includes software, operating manuals, sample policy, telephone support system, and on-site sales training. Today, more than 190 banks in 34 different states are using the BancLease program for leasing. For more information about the BancLease solution, contact Britt McConnell at 800.530.5327 or write P.O. Box 1526, Sikeston, MO 63801. Visit its Web site at www.banclease.com. CONTACT: BancLease Britt McConnell, 800/530-5327 CST bmcconnell@fssb.com or Media Contact for BancLease Katie Hogan, 678/781-7225 EST katie@williammills.com ### ############################### Microsoft
Innovation Award Winner, Funder OnLine, becomes CYENCE INTERNATIONAL TORONTO
–– Funder OnLine Corp., the Financial Web Services application
and technology solutions provider recently recognized as a winner
of the “.NET Award of the Year” at the Microsoft Canada
Innovation Awards, announced today that it will now be known as Cyence
International. As a member of the Microsoft First Wave Program for
the .NET platform in Canada, Cyence International will continue its
focus of delivering high quality innovative solutions to the global
equipment finance industry. “The
name Cyence is a combination of Cyber and science,
and is a creative way of defining and expressing our strengths,”
said Greg McIntosh, COO of Cyence International. “We will always
be a core solutions provider to the equipment finance industry. Our
new name, bringing together the worlds of science and digital technology,
adds to that business expertise by showcasing the broad range of our
technical knowledge and capabilities.” online in minutes. Cyence International brings a unique combination of long-term strategic vision, technical knowledge and leasing and financial expertise to its clients/partners. About Cyence
International Cyence International
Corp. is a specialized financial services technology company focused
on providing the global equipment finance industry with Internet based
technology solutions to both financial institutions and manufacturers
and distributors. Cyence International’s
ExpressOS™ solution offers a suite of lender-based software and
hardware technologies that have been designed, tested and proven in
the global marketplace over the last six years. Cyence International’s
technology has been developed on the strength of customer demands
for products that help reduce operating costs while increasing market
size and penetration. The result is high quality e-business products
that encompass sales origination, deal structure, credit adjudication,
document management, asset management, as well as integration to credit
bureaus and back-end systems. For
more information, visit the company’s Web site at www.cyence.com. ####
######################################### Tuesday---Odds and Ends You do a very nice job on the newsletter and this last e-mail (Leaasing News---Extra---- Jim Lahti) is the proof. When some small leasing guy who runs his own home grown e-mail newsletter, without the affiliation or support of any of the multitude of leasing organizations or other established players (Monitor / EFJ) sends out something and the Chairman and CEO of a subject firm not only notices the release but is concerned enough to reply, that just shows the depth of your reach into the leasing industry as well as how credible a source you are for news. Congratulations. ( Name With Held ) ( I don’t know why he requested his name with held, but we will oblige, as he does not know the half of it. It is quite a job, particularly trying to keep the mailing list “clean.” Kit Menkin does this. No one else. There are not only additions each day, but many changes of address. Many also don’t tell us their address is no longer working, and since most notices come back as an ISP notice, they don’t have the name and it requires more work to find who we should take off the mailing list. So readers who tell us not to use their “old e-mail” address
are really appreciated. editor ) ---- I thought you might like to see this newsletter if you haven't received it yet. It is written by David Mayer, author of Business Leasing for Dummies; David autographed copies of his book and handed them out free at the ELA Convention for people who showed up at his book signing. Bruce Kropschot BKropschot@aol.com Kropschot Financial Services 116 Estuary Drive Vero Beach, FL 32963 (772) 234-4544 Leasing News has written about this book. Here is a review from Patent Cafe Magazine: http://www.cafezine.com/index_article.asp?id=549&deptId=3&page=1 |
