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Kit Menkin’s Leasing News Friday, March 22, 2002 www.leasingnews.org Independent, unbiased and fair news about the Leasing Industry -------------------------------------------------------------------------- Headlines---- GE/Tyco and the Rest Jim Lahti and Richard Galtelli Bits and Pieces from the ELA Weekly Newsletter POP Goes The Yahoo! Mail Special: Executive Global Lease Training Analysis of Lease Volume Excel Present Value
Jeffery Taylor “I can say first hand, that Jim Merrilees biggest problem when it comes to golf is not the game itself, it is picking his favorite pair of golf shoes. Anyone who knows Jim, knows he has more shoes than any man that has ever lived. In the Midwest, Jim is affectionately known as ‘Shoes’." ( name with held ) (See “ Shoes” at the MAEL golf tournament: http://www.mael.org/members/news.asp) ______________________________________________________________ The Famous Bob Fisher!!! Kit, here is my new address; Firerock Capital, Inc 910 62nd Street West Des Moines, IA 50266
Voice 515-226-0091 Fax 515-226-0135
PHONE NUMBERS ABOVE ARE NEW BIZ NUMBERS, effective 3/22/02 Bob—Should I send you flowers for your “grand opening?” Kit--- You know you are a wiseacre?
The reason the registration has been slow, which is normal, for the joint Eastern Association for Equipment Leasing and United Association of Equipment Leasing Conference in Las Vegas is the brochure just went out a week or so ago, bulk mail. What do you expect? We just put the information on line at www.uael.org. EAEL has been doing a hell of a good promotion. As for the National Association of Equipment Leasing Conference in Orlando, that is also going to be a big hit. You’re wrong about this. It will be a big deal! Terey Jennings and I are going there for the Inter-Association Meeting. I think that is going to be one big event!!! You can quote me on that. As for Las Vegas, how can you beat it for fun, gambling, shopping, shows, and food. Also, don’t ask me about my golf handicap, because I am not going to tell you. Don’t send me flower for my opening, just put me in your will. Bob b.fisher@firerockcapital.com ------------------------------------------------------------------------------------------------ GE/Tyco and the Rest From: Drew Taggart <lionsryche@yahoo.com> Subject: Street Fighters: GE the Next Enron?!?!? Date: Thu, 21 Mar 2002 07:28:41 -0800 (PST) To: kitmenkin@leasingnews.org Good morning guys: Everyone has been saying for some time... "As GE goes, so goes the market." They say this because GE is a very diversified entity and into so many different fields. This is a good story... GE Capital has been very active in the leasing industry and, in my opinion, has done a tremendous amount of damage to equipment leasing as a whole. DT http://www.msnbc.com/news/727377.asp?cp1=1 Fund manager Gross lashes out at GE
Criticizes company’s debt load, disclosure to investors
By Gregory Zuckerman and Rachel Emma Silverman THE WALL STREET JOURNAL
March 21 — The bond king is taking on one of the biggest players in the corporate-bond market. In an unusual public rebuke, Bill Gross, manager of the world’s biggest bond fund, lashed out at General Electric, saying the company is carrying too much debt and isn’t dealing honestly with investors. Bond investors, he said, suffered a particularly steep loss in recent days after GE’s financial unit, GE Capital, announced it might sell as much as $50 billion in bonds, only days after investors bought $11 billion of new bonds in the biggest U.S. sale in history. (Whoa!!! You are right. This changes the equation. All bets are off now about GE buying one or more divisions of CIT. editor ) Jim Lahti and Richard Galtelli Yes... Jim and I have a successful business and personal relationship that has spanned for over 16 years. True relationships, whether business or personal, don't fall apart because of life's difficulties rather that get stronger from the test that they are put through. Jim is in our Austin office and he can be reached at 512-267-5445. This was a mutual and amicable split from BancPartners and we are now working out the details. Kit, thanks for your support. Richard A. Galtelli BankPartners of Texas, Inc. 1550 Waters Ridge Drive Lewisville, Texas 75057-6011 972-221-7335 Fax 972-221-7336 Pvt. Fax. 972-219-0223 Bits and Pieces from the Equipment Leasing Association Weekly Newsletter ******************************** EAEL is hosting a teleconference April 4 at 12:00PM EST on "Job Creation and Workers' Assistance Act of 2002, and its affect on the Equipment Leasing". Jeffrey Taylor of Executive Caliber, the Presenter, will discuss "What is in the Law and What Didn't Make It", "Details and Implications of Changes in MACRS and Net Operating Losses with Carry-Back Provisions", "How the Law Impacts Pricing;and Lease vs Buy Analysis" and "How the Law Impacts Estimated Taxes for the First Quarter of 2002". If you need any additional information please contact Alison Pryor at the EAEL, 914-381-5830. ELT E-Leasing Newsletter 3/21/02 ******************************** The Equipment Leasing Today E-Leasing Newsletter is published every Thursday and is sponsored by the Equipment Leasing Association and its co-sponsor. To Get Full-Text Stories, go to the web page associated with the story you wish to read. The links to news stories require an ELA MEMBERS-ONLY NAME AND PASSWORD. To receive a password, please contact Daniel Aubain at database@elamail.com or phone 703/516-8377. NOTE: Address change/unsubscribe instructions and contact information can be found at the end of this e-mail. If you received this e-mail (but it was NOT forwarded to you by someone else) you are ALREADY subscribed. *********** The E-Leasing Newsletter is SPONSORED by: ****************** NASSAU ASSET MANAGEMENT Recovery and Remarketing Specialists 1(800)462-7728 or 1(800)4-NASSAU GO HERE>>>>>> http://www.nasset.com WE GET RESULTS!!!!!!!!! Servicing The Leasing Industry for more than 25 years!!!!! *Covering all 50 states and Canada *Fastest turn around *24 hour reporting via Web *Highest resale prices Call Nassau now for a complete assessment of your needs!!! http://www.nasset.com ************************************************************************ ****************************** Table of Contents ****************************** 1. Senate Finance Committee Member Bob Graham To Speak At ELA Capitol Hill Day 2. Executive Roundtable a Smashing Success 3. Funding Exhibition Update! 4. BancWest Completes Acquisition of United California Bank 5. Hibernia Rolls Out Small-Business Equipment Leasing Program 6. CitiCapital Vendor Finance Launches Fastfinance 7. Bonus Depreciation: Are Your Lessees Asking To Renegotiate Deals? What Are The Other Lessors Doing? 8. Managing Credit & Collections In Changing Times 9. Business Technology Solutions--The Missing Piece of the Puzzle 10. How has the Economic Downturn Impacted your Ability to Recruit and Hire Qualified People? 11. ELA Calendar of Events: Plan your Professional Development for 2002 *********** The E-Leasing Newsletter is SPONSORED by: *********** Southfork Asset Management Corp. Recovery & Remarketing Specialists Nationwide Coverage * Immediate Turnaround * High Resale Value Lease and Loan Default * End-of-Lease Return "Bringing Asset Management To The Next Level!" (877) 99-ASSET * (877) 992-7738 * Click Here >> http://www.southforkasset.com ***************************************************************** ****************************** 1. Senate Finance Committee Member Bob Graham To Speak At ELA Capitol Hill Day ****************************** Senator Bob Graham, a prominent member of the U.S. Senate tax-writing committee and Chairman of the Senate Select Committee on Intelligence, will speak with ELA members on the eve of Capitol Hill Day, Tuesday night, April 9th. Senator Graham is greatly respected on both sides of the aisle, having established a reputation amongst his colleagues as a hard-working, methodical, thorough, and reliable member of the Senate. Since the attacks of "9-11", his role as Chairman of the Senate Select Committee on Intelligence has thrust him into a national leadership position on the War on Terrorism and Homeland Defense. A moderate Democrat and centrist, Graham views the Senate Finance Committee as "a laboratory for bipartisanship," and has been willing to buck both his party and his Florida constituency when he believes they are an impediment to getting things done on Capitol Hill. During his 16 years in the Senate, Graham has taken strong positions on high profile issues including the citizenship of Elian Gonzalez, capital punishment, and the U.S. embargo on Cuba. Before coming to Washington, Graham was actively involved in local and state politics having served in both the Florida State House and State Senate. Elected Governor in 1978, Bob Graham is known by Florida voters for his "work days"--since 1978, he has worked at least one day a month at some local job, from bagging groceries to construction. In January 2001, he logged his 365th work day as an airline gate attendant and flight attendant in Tallahassee, Tampa and Miami. Don't miss this opportunity to hear from one of America's truly extraordinary political figures! Attend ELA's Capitol Hill Day and make sure the equipment leasing and finance industry's message is heard in Washington. You can register online right now at: http://www.elaonline.com/events/2002/capthillday ************* The E-Leasing Newsletter is sponsored by: ************* Asset Control Doing more for your bottom line. Providing expert individual attention that allows you to preserve the value of your portfolio. Recovery, Collections, Remarketing, Appraisals, Inspections, Auctions & Storage 1-888-227-0444 email: info@assetcontrol.com VISIT OUR WEBSITE >>>>> http://www.assetcontrol.com ********************************************************************* ****************************** 2. Executive Roundtable a Smashing Success ****************************** More than 85 executives attended the ELA Executive Roundtable earlier this week in Orlando, FL to "Examine the Possibilities." ELA Chairman Joe Lane opened the meeting Sunday night with his Chairman's Forum, where industry leaders discussed current industry performance data, market dynamics and the outlook for the industry. The consensus? The future of the leasing industry is still bright. Of all of the industries in the financial services sector, "the opportunities are better here." ************* The E-Leasing Newsletter is sponsored by: ************* KABOOM! BAM! POW! Quiktrak pulverizes perpetrators with Invincible Inspection Services! Fighting Fraud with formidable force, Quiktrak is here to save the day! We thwart the unscrupulous across time and space to make the universe safe for commerce! Let us deactivate those dirty double crossers, who devilishly desire to deprive you of dollars! Just call 800-927-8725 to summon our superhuman speed and service, or warp to our website at http://www.quiktrak.com QUIKTRAK * BRINGING CERTAINTY TO AN UNCERTAIN WORLD! link: http://www.quiktrak.com/sp/Comic-Cover-Ad.html ********************************************************************* ****************************** 3. Funding Exhibition Update! ****************************** The ELA National Funding Exhibition April 22-24 at Chicago's Fairmont Hotel The unique, dynamic forum puts leasing companies and funding sources together for no other reason than to do business. The Exhibition is fast approaching. Make sure you're there and prepared. LESSORS-Don't miss this unparalleled opportunity to access dozens of active leasing industry funding sources. Register ONLINE today, and immediately begin scheduling meetings with exhibitors! Go to: http://www.elaonline.com/events/2002/fundingexhib/FundExHome.cfm ATTENDEES-Remember to check the Funding Source Website often for new exhibitors and appointment openings with previously unavailable funding sources. FUNDING SOURCES-Limited exhibition space is still available! Don't wait any longer. Contact Sally Maloney, Vice President, Meetings & Conventions at ****************************** 7. Bonus Depreciation: Are Your Lessees Asking To Renegotiate Deals? What Are The Other Lessors Doing? ****************************** Get the answers to these questions and more during tomorrow's telephone seminar (Friday, March 22), which will walk you through the provisions of the 30% depreciation bonus for qualified capital investments by businesses, part of the economic stimulus bill (Public Law # 107-147) signed into law by President bush on March 9, 2002. To sign up for this seminar, call KRM Customer Service at 800-775-7654, quoting the program code ELA6940-0, or register online: https://www.krm.com/regonline/elavcregs.nsf/ela6940-0 If you have questions about this telephone seminar, please call Jeanne Lund at (703) 516-8366. ****************************** 8. Managing Credit & Collections In Changing Times ****************************** The 2002 ELA Credit & Collections Management Conference and Exhibition is scheduled for June 9-11, 2002 at the Hyatt Regency Hill Country, San Antonio, TX. For further information and to sign up, please visit: http://www.elaonline.com/events/2002/credcoll/ ****************************** 9. Business Technology Solutions--The Missing Piece of the Puzzle ****************************** How do you improve your business processes, enhance your customer satisfaction and increase your operational effectiveness? For answers to these questions and more attend the 2002 ELA Business Technology Solutions Conference, scheduled for June 16-18, 2002 at the Philadelphia Marriott, Philadelphia, PA. For further information and to sign up, please visit: http://www.elaonline.com/events/2002/bustechsol/ ****************************** 10. How has the Economic Downturn Impacted your Ability to Recruit and Hire Qualified People? ****************************** New Quick Poll Question: How has the economic downturn impacted your ability to recruit and hire qualified people? Visit http://www.elaonline.com/ and let us know! ****************************** 11. ELA Calendar of Events: Plan your Professional Development for 2002 ****************************** Please visit ELA's 2002 Calendar of Events online at http://www.elaonline.com/events/year2002.htm Plan your annual professional development now by viewing all the conferences and workshops that ELA has to offer. Agendas and registration forms are already on line for many conferences. If you have any questions about any of ELA's conferences and workshops, please contact Jeanne Lund at jlund@elamail.com April 8-10, 2002 Principles of Leasing Workshop Philadelphia Marriott, Philadelphia, PA http://www.elaonline.com/events/2002/principles/ April 8-10, 2002 Principles of Leasing Workshop Marriott Fisherman's Wharf, San Francisco, CA http://www.elaonline.com/events/2002/principles/ April 9-10, 2002 Capitol Hill Day Washington Court Hotel, Washington, DC http://www.elaonline.com/events/2002/capthillday/ April 11, 2002 ELA Metro: How to Protect your Business from Fraud (and other topics TBA) Co-Sponsored with EAEL The Westin Philadelphia, Philadelphia, PA http://www.elaonline.com/events/2002/metros/ April 14-16, 2002 Captive & Vendor Leasing Conference The Registry Resort, Naples, FL http://www.elaonline.com/events/2002/captive/ April 22-24, 2002 National Funding Exhibition Fairmont Hotel, Chicago, IL http://www.elaonline.com/events/2002/FundExHome.cfm May 5-7, 2002 Large Ticket Conference LaCosta Resort & Spa, Carlsbad, CA http://www.elaonline.com/events/2002/largeticket/ May 5-7, 2002 Legal Forum Fairmont Hotel, Chicago, IL http://www.elaonline.com/events/2002/legal/ May 6-8, 2002 Principles of Leasing Workshop Hilton Northbrook, Northbrook, IL http://www.elaonline.com/events/2002/principles/ May 20, 2002 MAEL 18th Annual Golf Invitational Harborside International Golf Center Chicago, IL http://www.mael.org June 9-11, 2002 Credit & Collections Management Conference & Exhibit Hyatt Regency Hill Country, San Antonio, TX http://www.elaonline.com/events/2002/credcoll/ June 16-18, 2002 Business Technology Solutions Conference and Exhibition Philadelphia Marriott Hotel, Philadelphia, PA http://www.elaonline.com/events/2002/bustechsol/ June 17-19, 2002 Tax Executives Roundtable Ritz Carlton, Philadelphia, PA June 17-19, 2002 Principles of Leasing Workshop Hyatt Regency Baltimore, Baltimore, MD http://www.elaonline.com/events/2002/principles/ July 15-17, 2002 Principles of Leasing Workshop Hilton Kansas City Airport, Kansas City, MO http://www.elaonline.com/events/2002/principles/ September 9-11, 2002 Lease Accountants Conference Mayflower Hotel, Washington, DC September 9-11, 2002 Principles of Leasing Workshop Pittsburgh Marriott City Center, Pittsburgh, PA http://www.elaonline.com/events/2002/principles/ September 25-27, 2002 Municipal Leasing Conference Westin Tabor Center, Denver, CO October 7-9, 2002 Principles of Leasing Workshop Hilton Northbrook, Northbrook, IL http://www.elaonline.com/events/2002/principles/ October 13-15, 2002 41st Annual Convention San Francisco Marriott, San Francisco, CA October 22, 2002 Fundamentals of Credit Workshop Philadelphia Marriott, Philadelphia, PA December 2-4, 2002 Principles of Leasing Workshop Embassy Suites, LaJolla, CA http://www.elaonline.com/events/2002/principles/ December 9-11, 2002 Principles of Leasing Workshop Philadelphia Marriott, Philadelphia, PA http://www.elaonline.com/events/2002/principles/ For more information on the events listed below, or to view ELA's entire calendar, visit the ELA Conference & Training Home Page at http://www.elaonline.com/events/ and click on the links to programs of interest to you. **************************************************** Submit your own company news story for ELA'S E-LEASING NEWS! Visit http://www.elaonline.com/news/newsaddedit.cfm **************************************************** *** FOR MORE NEWS For more leasing news, visit ELA Online's News Home Page at http://www.elaonline.com/news/ *** SUBSCRIPTION INFORMATION To update your current subscription information or receive your ELA USERNAME/PASSWORD, please visit: http://www.elaonline.com/memberDir/Profile/IndivForm.cfm To unsubscribe, please email Daniel Aubain at database@elamail.com. If you have other questions or comments relating to ELA E-Leasing Newsletter, please email Amy J. Miller, Vice-President of Communications, at amiller@elamail.com. This newsletter is free to ELA members. Forward it to a co-worker! Copyright 2002 by the Equipment Leasing Association -------------------------------------------------------------------------------- Executive Global Lease Training ( some weekend reading ) ( This is a very big file, long download: Tip: open Adobe first ) http://www.leasingnews.org/PDFFiles/ExecutiveCaliberMarketingPresentation%5b2%5d.ppt Analysis of Lease Volume http://www.leasingnews.org/PDFFiles/AnalysisLeasingVolume2001%5b1%5d.ppt Cash Flow/Excel Present Value Program http://executivecaliber.ws/sys-tmpl/nss-folder/downloadarena/ModelPVNPVIRR.XLS POP Goes The Yahoo! Mail By Gretchen Hyman Internet.com For many soon-to-be dispossessed Yahoo! Mail users who formerly enjoyed POP3 and email forwarding services for free, the choice is simple, either stay and pay, or move on. A notice from the Internet's biggest commerce and entertainment portal was posted yesterday stating that effective April 24, free POP3 and Auto Mail Forwarding services for Yahoo! Delivers' subscribers must either sign up for Yahoo!'s new POP3 fee-based email package, or vacate their accounts. Only Yahoo! Web-based email will remain free. According to the notice, under the new fee-based account system, Microsoft Outlook, Eudora, or other POP3 clients will manage Yahoo! Mail and will also automatically forward mail to specified accounts. The new package also enables POP3 users to send larger attachments of up to 5MB. The former limit was 1.5MB. If users don't respond to the pay or play dictum by the April deadline, access to Yahoo! Mail message accounts will be cut off. While Yahoo! representatives would not elaborate on Yahoo!'s motivation for moving from a free to fee-based POP3 system, reasons offered were that that new package offers more features and that a fee-based package might deter spammers. For new recruits that sign up before the cutoff date, Yahoo! will charge a $19.99 fee for a year's worth of services. After April 24, the package goes for a whopping $29.99. Industry analysts have spotted an increasing trend among Web sites that formerly gave away free services to a gradual move toward incorporating fee-based services intended to either overshadow free services, or eliminate them altogether. Terra Lycos recently launched a subscription-based gaming business as part of its gradual migration away from free services to fee-based services with more bells and whistles. Merriam-Webster online is also trying to offset free access to its Collegiate Dictionary and Thesaurus by luring educators and institutions toward fee-based subscription access to its Third New International Dictionary. Yahoo! is also said to be in the test phase of offering users a number of new subscription-based services, in particular one that provides movies on demand, soap opera gossip, and other entertainment features. For POP3 users who are in a tailspin over the changeover from free to fee, there are still dozens, if not hundreds, of providers who offer POP3 services for free in exchange for the opportunity to barrage the email recipient with banner advertising, email ad tags, and direct email advertising. Some free email services include Arabia.com, E-OminNet, Fastmail.fm, Freemark, HotPop, HowlerMonkey, and iMailBox. For a more complete list of free POP3 services, visit the Internet E-Mail List or Free Email Address Directory. |
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