Kit Menkin’s Leasing News

www.leasingnews.org  Wednesday, March 27, 2002

accurate, fair and unbiased news for the equipment Leasing Industry

Headlines----

 

“Not True” says John Otto about Centerpoint Financial

   Colonial Pacific Employees Return to Oregon—Welcome Home

      Great News from Susan Adamatis 

          Tyco's CIT debt issue oversubscribed; raised to $2.5 billion

              UAEL—Las Vegas Conference—“Leave Your Children at Home.”

                Equipment Leasing Association Depreciation Schedules                    

                     Nigerianfraudwatch.org Launched---Hoopee-de-doo!!!

                          More Nigeria and African e-Mail

                               Carpediem Offers Regional Seminars in April

                                   Pitney Bowes Selects mySAP CRM  (not CPL)

 

## Denotes Press Release

 

________________________________________________________________________

“Not True,” says John Otto

Centerpoint Financial Services, LLC

1675 Larimer St., Suite 880 * Denver CO 80202 * Tel: (303) 615-5099 * Fax: (303) 615-9790

 

“ Not true” says John Otto, chairman of Heritage Leasing, major stockholder of Centerpoint Financial,
LLC, and Pentech Financial, Campbell, California. “ I

am not pulling the plug on Centerpoint.  It is true we hit a small bump in the road,

but that is taken care of.  “

 

The thirty year plus lease veteran with deep pockets confirmed the resignation of Randy
Schiel, now
former Chief Financial Office, while Otto was in the “far east” the last few weeks
(also visiting Da Nang, where he was shot at 37 years ago.)  He said he was glad
things happened while he was away. He understood Randy Schiell had other opportunities.

 

Leasing News has been receiving rumors about Centerpoint for many months.  We

first learned that Randy Schiell wanted to resign in September, then the Terrorist

hit the United States, and he decided to stay for many reasons.

 

 

It is obvious that John Otto put more money into the company, plus reassured lenders

and other lines of credit he would stand behind the company, plus believed the leasing

market was turning around.

 

“ My confidence in Gordon Roberts as president has never changed or wavered,
“ he said. “ He and Chuck Brazier are doing the best they can in this economy.... We want

to continue to do business with brokers.”

 

Gordon Roberts was at Colonial Pacific Leasing, as well as Chuck Brazier, who

went to Florida, then joined Oren Hall at Heritage of Sacramento, who’s company was

“absorbed” by First Sierra/SierraCities. Both are past presidents of the United

Association of Equipment Leasing ( Roberts 1993/Brazier 2001 ).

 

“ Business is picking up in the entire leasing industry and 2002 will be a good

year for all of us, “ Gordon Roberts said.  “ There really is not much else to

add, except that Randy Schiell has gone on to bigger and better things.”

 

This is from a public website about Randy Schiell

http://www.americanleasing.com/entertainment/monthjokes/monthjoke_Dec_2001.htm:


"My beautiful wife of 27 years, Janelle and I have two great kids, son Chris,
a sophomore at the University of Colorado majoring in Philosophy
(mine was sociology, so there is some hope) and daughter Angela
a freshman at Ralston Valley High School in Arvada Colorado.
We ski a bit, hike a lot and I spend weekends gardening and puttering
(a handyman of sorts, I build sprinklers, decks and finish basements.
We seem to move every time I finish a house. We've spent four years in
this one and I'm down to the basement, so maybe another 4-5 years and
then who knows? Janelle is settled, so she'll kill me if I mention moving)"

”Randy is the chief operating officer for Centerpoint Leasing, Denver, Colorado.
He founded the company along with Gordon Roberts, who is the chief executive
officer. He has over twenty-five years in experience in the financing and lending
business. Since 1979, he has been working in the leasing industry exclusively, with
the majority of that time spent in the small ticket leasing field. His background has
included credit analysis, collection, computer operations, finance and accounting experience.
Prior to Centerpoint Financial Services LLC, he worked for over six years at First Concord
Acceptance, with Gordon Roberts and most of the current CPFS staff. Prior to First Concord,
he was at First Centennial Leasing, where he and Mr. Roberts first began their association.

”Randy Schiell is a graduate of the University of Colorado, and has his MBA from Colorado State
University. He is active in industry associations, including becoming a Certified Leasing Professional. "

 

(Here is a current e-mail address and telephone number.   He did not contribute

to this story in any way. I am willing to swear that in court. There is a lot more

I know from other sources, but not from Mr. Schiell. From my observation,

Mr. Schiell is on the streets looking for a job.  He is a very good man. Editor)

 

Randy Schiell

CRSchiell@aol.com

303-467-9654

 

 

 

 

 

Welcome Home, Kotter

 

As a soon to be former lease processor at Colonial Pacific Leasing. I would like to say on
behalf of everyone in the express documentation department:

 

 Thank You to all the past and present Brokers of Colonial Pacific Leasing. We will miss
all of you! It feels like we are losing hundreds of friends, there will be a void in our
hearts that will take a long time to fill.

 

 Good luck to you all!!

 

 ( Name With Held )

 

________________________________________________________________________

 

Great News from Susan Adamatis 

 

 

 Happy to report I have a new position here in Chicago for a "reputable" lease broker. 

 

Again I stress to anyone out there that is looking for a job in leasing and that is

"network".  I had worked closely with this broker when I was employed at Old Kent
Leasing and as it turns out it is a great company to work for.

 

  Again, the position I hold was not advertised through recruiters etc but by word
of mouth in the industry.  I am working with many leasing companies and am able
to keep in touch and do business with a lot of the same people that I worked
with before.  The job is challenging and the people I work with are terrific.

 

Since I have a new e-mail address at work, please change my address to:

    susana@netlease.com

 

Regards,

 

Susan M. Adamatis    

sophie1900@msn.com      

 

 

 (Great news. We will show you our classified at www.leasingnews.org,

as we help people get jobs. Everyone is not as lucky as Susan Adamatis.  editor )

____________________________________________________________________

 

Please send to a colleague. We are not like any other. We are free, no advertising,

no banners, no allegiance to any employer or money person.  The real “stuff.”

Our readers send us the “inside information” that we pass on to you, after

verification.  Help us to grow.  Send to a colleague.

 

_____________________________________________________________________

 

Tyco's CIT debt issue oversubscribed; raised to $2.5 billion

 

By Associated Press,

 

CHICAGO (Dow Jones/AP) Tyco International Ltd.'s chief financial officer said strong
demand Tuesday for the public debt offering from its CIT Group demonstrates it has
access to sources of financing and liquidity is not an issue.

 

On the firm's seventh weekly conference call with analysts and investors, Mark
Swartz said the enthusiastic response from the market has enabled the company
to increase the size of the global offering to $2.5 billion worth of five- and
10-year notes from the original $1 billion plan.

 

''The deal is going extremely well,'' said Swartz, adding it has been oversubscribed
in multiples of the $2.5 billion offering. He said Tyco would reveal more details on pricing shortly.

 

''Our access to the public market is sooner than we expected when we began
talking two months ago, and it is greater in size than we would have hoped for
also,'' Swartz said.

 

Tyco shares were pummeled earlier in the year on investors concerns about
liquidity and potential accounting irregularities after the company was shut
out of the commercial paper market.

 

In an effort to calm investor worries, the company instituted weekly conference
calls to give investors the opportunity to ask questions about its accounting
and disclosure practices.

 

Tyco plans to either spin off CIT to shareholders or sell it outright as part of
its restructuring. Swartz said the offering Tuesday facilitates this plan by
showing ''CIT is a strong, independent company with financing sources available to it.''

 

Swartz said even if the company spins off Tyco, the removal of the asset,
with any corresponding cash addition to the company's books, wouldn't place
Tyco in violation of any of its borrowing covenants.

 

Shares of Tyco fell 34 cents, or 1.1 percent, to close at $32 in trading
Tuesday on the New York Stock Exchange.

 

 

( Tyco was selling its CIT in “divisions,” not as a “whole” unit.  The bond rating

of GE has changed this, and  we are told by “insiders” who are not allowed to

communicate with us that the action is very similar to having CIT listed

on e-Bay. editor )

 

Las Vegas Conference

 

 “ Don’t bring your children. “

 

     REGISTER BEFORE MARCH 31ST TO GET THE EARLY BIRD RATE!!!

 

"BET ON AMERICA" - EAEL & UAEL Spring Education Conference

Caesars Palace - Las Vegas

May 2 - 4, 2002

 

*2 Days of Educational Workshops

*Roundtable Discussions

*Networking Opportunities

*Service Provider Exhibits

*Anthony T. Galie - Keynote Speaker on Visualization & Goal-Setting Techniques

*Earn CLP CPE Credits at 5 Educational Workshops

*Golf Tournament

 

Don't miss this excellent conference in the best convention city in world, LAS VEGAS!!

 

Visit either www.eael.org or www.uael.org to download the full conference
brochure and to register online. 

Save Today - Register before March 31st to get the Early Bird Rate!

Call Caesars Palace at (800) 634-6661 before March 31st to take
advantage of the special conference rate. 

Make sure to ask for the EAEL/UAEL Group Rate!

 

For questions or detailed information please call either EAEL or UAEL at

EAEL:  (914) 381-5830

UAEL:  (510) 444-9235

 

SEE YOU IN LAS VEGAS!

 

Joanie Dalton - Chief Operating Officer

UAEL - United Association of Equipment Leasing

520 Third Street, #201

Oakland, CA  94607

(510) 444-9235 x27

(510) 444-1346 fax

joanie@uael.org

www.uael.org

 

--------------------------------------------------------------------------------------

Equipment Leasing Association Depreciation Schedules

 

 

     ELA posted online a table of examples of depreciation changes pursuant to the
30% bonus depreciation provision for 3, 5, 7 and 10-year property.

 

 Please visit http://www.elaonline.com/govtrelations/Federal/DeprtnAdj.pdf
to access the table in pdf format.

 

This is an example of ELA's ongoing effort to keep you informed on current groundbreaking
events in Washington and the impact it will have on YOUR business.

 

 

(Thank you. But why are you going to send an “ambassador” to the inter-association

equipment leasing meeting.  ELA is the only organization not participating.

Story tomorrow. Shame on Mike Fleming and his staff. Editor)

----------------------------------------------------------------------------------------

 

Nigeria launches Web site to target e-mail scams

 

Nigerianfraudwatch.org


By BRIAN SULLIVAN   Computerworld

Have you received an e-mail claiming to be from Nigerian government
officials or petroleum executives trying to smuggle money out of
their country? Are you getting tired of spiking all that Nigerian spam?

 

Well the Nigerian government is sick of those scams, too.

The African nation, through its high commission in the U.K., recently created
a Web site to target the scheme and offer tips on combating fraud and how to
legitimately invest in Nigeria.
http://www.nigerianfraudwatch.org/QuickPlace/nigerianfraudwatch/Main.nsf/h_Toc/4df38292d748069d0525670800167212/?OpenDocument

A spokesman for the high commission in London confirmed that his government
set up the site to help "investors in Europe and elsewhere" deal with fraud.
However, he declined to discuss the site in any detail.

The site targets the most common scam, in which the spammer says he is a government
official and has a large amount of money that he wants to get out of Nigeria. In the
e-mail, the spammer says he's looking for help and usually asks for a processing fee,
a bank account number or a blank sheet of corporate letterhead.

It's an old scam in a modern package, said Stanton McCandlish, technical director
at the San Francisco-based Electronic Frontier Foundation. McCandlish said he
thinks the scam is so outrageous that no one is taken in by it and wonders if any
good will come out of Nigeria's efforts to stop it.

"This really doesn't have anything to do with Nigeria per se, and I think their site
is more about saving face," McClandish said. "I don't think this is going to slow anything."

However, Tom Geller, founder of SpamCon Foundation, an antispam group also
in San Francisco, said he thinks the Nigerians deserved credit for addressing the
problem publicly.

"It is interesting to me that the government itself is taking this seriously," Geller
said, adding that not enough governments worldwide are addressing the problem of unwanted e-mail.

Both McClandish and Geller agreed that more has to be done overall to attack
spam, but they differed on their approach. Geller said he believes it's best to
attack the problem on a number of levels including government intervention.

However, McClandish said too much time has been wasted lobbying governments
trying to get antispam laws passed. The solution, he said, is through technology.

"Technical fixes probably shouldn't be that hard, but years and years have been
wasted lobbying," McClandish said.

Both agreed that the amount and extent of spam has taxed governments' efforts
to combat it. Geller also said that antispam forces are further hindered because
spam laws tend to be civil infractions, not criminal, which leaves it up to individuals to prosecute.

Still, Geller said, he was cheered by the U.S. Federal Trade Commission's
recent actions against spammers and by the Nigerians' attempt as well.

"It is always encouraging when a government looks out for the people's
best interest," Geller said.

In the meantime, the Nigerian government is encouraging anyone who
has direct contact with the spammers to send information to its Web
site. The site has begun a collection of fake documents that some of the scammers are using.

The site also lays out other scams, including an appeal for Americans
to coach basketball in Nigeria that asks for a $150 registration fee.
Another scam offers the recipient 20% of millions of dollars held in
a Nigerian bank account that is supposedly held by a businessman who
died in a plane crash. The user is asked to stake a claim of being the
deceased person's next of kin, and a fee is requested to process the will.

 

More Nigeria and African eMail

 

 (Leasing News has printed perhaps as many as 100 letters, all different,

but with the same theme.  Here are some new ones sent to us by our

readers....we have more, but will save them for another day.editor )

 

 

FROM: Mariam Abacha(Mrs).

NIGERIA

 

 

URGENT ASSISTANCE

 

I am Mariam Abacha(Mrs), the widow of Late General Sanni Abacha, former
Nigeria Head of State. In May last year the Present Democratic Government
of President Olusegun Obasanjo sent Security men to my most Senior son's
house Mohammed and recovered about $700m cash kept in his house by
My late husband and our properties were confiscated and since then, my
son has been in jail in northern part of Nigeria for this purpose and I myself
has been put under Government monitoring. My bosom friend gave your
contact to write you in view of this transaction. I have US$45 million
money kept with Trust Security Company in West Africa. Now I want
you to  represent me in claiming this fund on my behalf quickly as
Government investigators are monitoring my movement since the
death of my husband to recover more money.

Due to my present Predicament I am soliciting to entrust this money in
your custody till this trial period of my family is over. For your
assistance, I will give you 30% of the total money as soon as
I reach to a compromise with you. I shall inform you of the
Trust Security Company's Contact and the claiming modality.100% risk
free is guarantee in this transaction.

 

Please don't hesitate to assist me because I am very

much in need of your help.

 

Thank you,

 

Mariam Abacha(Mrs).

(Ex First Lady of Nigeria)

Note: you are the only person known about this

information, so It must be kept absolute confidential.

 

From: folly boateng <follyboateng@yahoo.com>

  Subject: CONFIDENTIALBUSINESS

  Date: Fri, 15 Mar 2002 02:29:15 -0800 (PST)

  To: kitm@americanleasing.com

 

 

                    CONFIDENTIAL MESSAGE

                    TEL:+228-948-61-76.

ATTN: Dear Sir,

 

I got your contact through a lady that works with

chamber of commerce here in Lome - Togo. I thought I

should contact you for a fruitful business

relationship.

 

I am FOLLY BOATENG, the son of JOSHUA BOATENG the

former deputy minister of finance under the executive

civilian president of SEIRRA LEONNE, Ahmed Tejan

KAbbah.

 

As at when the military Junta led by major Paul

Koromah struck and overthew the government of SEIRRA -

LEONE, the president was forced to run into exile in

CONAKRY GUINEA while some of his closest aids left to

other countries. When the coup took place many top

government officials were assassinated including my

father who was unlucky not to have escaped with the

president. In the course of this confusion, I went

into my father's under group safe and saw two trunk

boxes containing the sum of thirty-million united

states DOLLARS(30Millions US Dollars).

 

I now decided with the assistance of my mother to move

this money to my mother's village in the country side

for safe keeping while the war was going on. Right now

the United Nation (U.N.) and Rev. Jessy Jackson of

America with organization of African Unity (O.A.U)

heads of state has initiated a peace move in the

country between the president and the rebel leader.

With this peace talk going on, it gave me the

opportunity to smuggle the trunk boxes through a

fishing boat to a more safer place in Lome - TOGO in

west Africa. On my arrival in Togo I deposited the

boxes with a security company as family treasures and

jewelries of which the security company does not know

the real content of the trunk boxes. I did it for

security purposes.

 

Now what I want you to do for me is to help me wire

this money to your country or you come down to LOME -

TOGO to see this money yourself and we talk about it.

For all this your assistance you are entitled to 30

percent of the total amount.

 

I am expecting to hear from you as soon as possible.

 

Best regards,

 

FOLLY BOATENG.  

We have major world banks in London, and Zurich who

are willing to confirm funds for you, against payment

of a fee. To receive our offer, please fax: +1 (801)

504 0334 these details on your letter head:

 

(1) Exact verbiage which you require to be issued

(2) Face amount required

(3) Term of validity required

(4) Do you need the confirmation as original hard copy

issued by the bank or SWIFT?

 

(5) Minimum fees are US$ 200,000.- which will have to

be deposited into an independent law firm's escrow

account AFTER we have signed contracts, but before the

bank confirmation is issued for you. Please confirm in

your fax that you have these funds available right now

and that you can accept this mode of payment.

 

(6) Clearly state your e-mail address.

 

=============================================

YOUR REPLY HAS TO COVER ALL THE ABOVE ISSUES.

IT SHOULD BE SENT BY FAX TO +1 (801) 504 0334.

OFFER WILL FOLLOW WITHIN 24 HOURS. ENQUIRIES

NOT IN LINE WITH THIS ARE NOT ANSWERED!

=============================================

 

 

SUBJECT:BUSINESS RELATIONSHIP

 

This contact is tantamount to an unflinching desire to establish a
long mutual business relationship based on trust and mutual

understanding.

 

I am Mr. Louis Taye the former Adviser on special duties to the
ousted Robert Guei the president of coted’ivorier in West

African region.

 

The recent development in the country is no more news to the
outside world.  President Robert Guei after losing his ambition

to transform himself from military to civilian president, he ran away
to a neighboring

country Benin Republic seeking political asylum.  All the people
that served in his cabinet including the former Ministers and his

political Associates, everybody is at large.

 

During my tenure as the Adviser on special duties I was also in
charge of Finance of his political ambition.  It was while on

these privilege positions that I kept in my custody the sum of
US$20.5M(Twenty Million Five Hundred Thousand US Dollars

Only}.

without the fore-knowledge of the President.

 

Just last two weeks  I arrived Nigeria the Headquarters of (ECOWAS)
with my family for safety reasons, we were granted

political asylum by the

country Nigeria because of my strong opposition to general Robert
Guei, political plans which  was against the wish of the

people.

 

This is the reason why I am  asking for your assistance to enable
me invest the fund in your city, settle down with my family and

also have you as my mentor.

The fragile political system in Africa does not encourage me on
long term investment project.

 

This sum has been deposited in a security company in
CAYMAN ISLAND and awaiting proper documentation and claims.

My problem now is that I do not own a foreign account, that
is why I need your assistance. You

or your company should act just as the beneficiary.

 

This business is intended to benefit both parties involved,
I have therefore, agreed to share proceeds from it in the following

ratio: 10% for you, the

account owner and 90% for us.

My attorney has perfected all the arrangement

to effect complete dislodgement of this fund. They have
equally guaranteed 100% smooth transfer.

 

I want you to understand that this transaction must be kept
in utmost confidentiality and secrecy as  my  future welfare  hugely

depend  on it

 

Thank you for your co-operation in advance with an assurance
that this is the beginning of our long term business relationship.

 

Best regards,

Louis Taye

 

 

DR. KEFFE DAFE (CHAIRMAN)

DEBT MANAGEMENT COMMITTEE (DMC)

FEDERAL SECRETARIAT ANNEX

IKOYI-LAGOS, NIGERIA.

 

 

FOR THE STRICT ATTENTION OF THE MANAGING DIRECTOR/CEO

Dear Sir/Madam,

 

RE: URGENT BUSINESS PROPOSAL.

We in the above named committee were inaugurated by

the Presidency to investigate, review and recommend

for payments all Ministerial  contracts awarded during

the five years of the Late General Sani Abacha

(Military Head os Stae in Nigeria (1994-1999).

 

Our committee have also been given the constitutional

backing by the National Assembly ( The highest law

making body in Nigeria ) to adjudicate and approve for

immediate payments in collaboration with the Federal

Ministry of Finance (FMF) and the Central bank of

Nigeria (CBN)all contracts approved genuinely by these

Ministries and Parastatals between 1994 and 1999.

These contracts as recommended for consideration and

immediate approval for payment must pass preliminary

examination for total completion and commissioning of

such job/contracts before it can receive the approval

of this constituted body.

 

In the light of the above, during our review of

contracts awarded in the Nigeria National Petroleum

Corporation (NNPC), we discovered contracts awarded to

the tune of US$435,500,000.00 ( Four hundred and

thirty five Million, five hundred thousand United

States dollars ). This, we have discovered that the

original contract amount was as quoted initially by

the consortium of foreign firms  who secured and

executed these contracts was US$395,550,000.00. This

original contract amount was perfected over-invoiced

by US$39,950,000.00 making up the amount above

(US$435,500,000.00).

 

Now, we want to seek  your assistance and permission

to enable us front you and your company as the

contractor who executed these contract to put in

letter of claim application to transfer the

over-invoiced amount (US$39,550,000.00) to your bank

account for us. This is because the original

contractors have been duly paid their contractual

entitlement (US$395,550,000.00) as approved for them

leaving behind the over-invoiced amount now floating

in the suspense account of the Central bank of Nigeria

awaiting claims. These amount is not known to the

contractors that executed such contract that we in

this committee have  approved for claim the

over-invoiced amount for immediate payment to

ourselves.

 

Your share in this exercise is 30% as the owner of the

account and for your other participation as may arise.

 

Please, We need your assistance/permission,

total commitment and cooperation to get this money

transferred in your account you will send to us. As

we are not allowed by law in Nigeria to own and

operate foreign account while in government. Inform us

of your good interest to do this business with us  to

enable us give to you more details. Please time is of

immanent.

Thank you as I wait for your urgent response.

Best Rgds,

Dr. Keffe Dafe.

 

 

--

keffe dafe

keffe@onebox.com - email

(866) 251-5168 x2969 - voicemail/faxAlhaji Tijani Abdulahi

( Director of Operations)

Bureau for Public Enterprises (BPE)

Federal Government Secretariat

Abuja, Nigeria.

Direct Fax: 234 &#8211; 9 -2726342

 

ATTN: Joe Reyna

 

INVESTMENT PROPOSAL

 

In order to liberalize the Nigerian Economy, The Federal Government of Nigeria
has mandated the Bureau for Public Enterprises (BPE) of which I am the Director
of Operations to privatize certain Government p