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| September 27, 2000 Republic
Leasing, Columbia, South Carolina
I cannot control the many news stories, and apologize for the length of this issue.
I suggest going to our posting and reading in java, or like you do when you read
printed newspapers, skip what you don't want to read. Resource Bancshares Mortgage May Sell Republic Leasing Subsidiary Resource
Bancshares Mortgage Group announced that it has engaged First Union Securities
to assist it in evaluating strategic alternatives for its leasing subsidiary,
Republic Leasing Company, (Republic). Alternatives being considered include the
possible sale of Republic. The List is Up-dated, along with our Bullletin Board at the end of this issue. GRANERI REPORTS ON NEWARK,N.J. National Association of Leasing Brokers Workshop I attended the Naelb workshop In Newark,N.J.last thursday and Friday. Their were about 40 attendees ( Not including service providers and funders ) at the meeting. I was able to catch up with some old friends and meet some new ones at the cocktail party on thursday night. If you get a chance to see Deborah Varallo speak at one of the Naelb's other regional workshops please do she did an outstanding job. I sat in on the second half of her talk and came away with some very useful information. The topic was " Increase you sales by utilizing savvy media marketing strategy." I sat with several funders who made my life a whole lot easier by handing me a disc with all their information on it, they have come a long way from the big bulky folders that I used to pick up for my dad back in the day, I would need another brief case to carry the rest of them back with me. In some instances when I did receive folders there was less clutter and more detailed information included, not only doe! Does this make my life a lot easier, but we end up saving a few trees along the way. Kudos to the funders they did an excellent job of presenting their product through the internet and answering a number of questions from me. I felt the one day workshop was very successful and if you didn't get a chance to attend this one please attend one in the future it well worth the investment. This Michael Granieri signing off from the Garden State. Sincerely EAEL Report EAEL held its 17th Expo on September 25. Bruce Winter, CLP, of FSG Leasing, Inc. chaired this exciting event which attracted close to 400 attendees. There were 47 exhibitors to meet and countless opportunities to network. The day began with a State of the Industry address from Ira Romoff of EAB. There were twelve timely and informative workshops and we culminated the day with a fabulous presentation by Governor Mario Cuomo. Everyone there was overwhelmed by his impassioned perspective on the roles and responsibilities of government in American life. The feedback has been terrific and we are already looking forward to next year. Amfnyc@aol.com If we change our name from American Leasing Financial, Inc. to e-leasing does that automatically put us on the cutting edge of leasing? Adrian aleasing@mindspring.com
LeasePoint.com Attacks Online Fraud MINNEAPOLIS--(BUSINESS WIRE)--Sept. 27, 2000--LeasePoint.com, an emerging industry leader in technology equipment leasing, announced today it has added iVerify's Internet verification services to its online offering in order to guarantee valid lease applications. "With the iVerify solution we will reduce the potential for fraudulent transactions and ensure a higher level of safety for our vendors and lenders," LeasePoint founder and CEO David McNutt said. "A recent survey from e-commerce software firm Cybersource revealed that up to a quarter of all on line transactions are fraudulent." By ensuring that web users provide a valid social security number and other identifying data, iVerify's iV-Phone Data(TM) reduces fraudulent inquiries and transactions for vendors. "Reducing the incidences of, and the fear of Internet identity fraud for both businesses and consumers is key to growth in the B2B and B2C e-business sectors," Aron Leifer, iVerify.com CEO, said. "iVerify's application significantly reduces online fraud through a simple to use, highly sophisti cated verification process." McNutt said the ability to electronically verify the social security numbers of users and pull credit reports based on those verifications, which saves both money and time, is one of the key reasons LeasePoint.com is able to provide valuable opportunities for all sides of technology leasing deals. About LeasePoint.com Located in Minneapolis, Minnesota, LeasePoint.com is rapidly emerging as an industry-leading Internet site for businesses seeking to lease technology equipment. LeasePoint.com matches business customers needing technology equipment with vendors and lenders to give businesses the best lease opt ions available. LeasePoint does this with specially developed technology that removes obstacles of traditional leasing and makes the process fast and easy. About iVerify.com iVerify.com is a privately held corporation. iVerify.com specializes in the development and marketing of Internet application services. iVerify.com is headquartered at 51 East 42ndStreet, Suite 308, New York, NY 10017. Tel: 888-595-7600. Fax: 888-595-3710. Web: www.iVerify.com LeasePoint.com is a trademark of LeasePoint.com, Inc. IV-Phone Data is a trademark of iVerify.com. All trademarks and registered trademarks are the property of their respective owners. CONTACT: LeasePoint.com, Minneapolis Elen Bahr LeasePoint.com 877-841-7500 ebahr@leasepoint.com Head of Softbank-led Japanese bank commits suicide ( FYI-Leasing firm Orix Corp owns 14.99 percent.) TOKYO,
(Reuters) - The president of Japan's most newly reprivatised bank, Nippon Credit
Bank (NCB), was reported to have committed suicide on Wednesday, clouding the
fate of the bank led by ambitious Internet investor Softbank Corp. Decision Systems Inc. Announces Merger with CFS Group Combined Strengths Form Global Leasing Software Leader International Decision Systems MINNEAPOLIS, Minn., 26 Sept., 2000-Decision Systems Inc. (DSI) - a US leader and worldwide market player in lease and portfolio management software and services - announced today that they have agreed to combine operations with CFS Group plc (CFS), a leading provider in wholesale/floorplan and leasing software. CFS is quoted on the London Stock Exchange and consequently the transaction is subject to the approval of CFS shareholders, which is expected in late October. The new global software and services operating company will be known as International Decision Systems (IDS). The holding company for the enlarged Group will be re-named IDS Group plc and will retain CFS's London Stock Exchange listing. CFS' leasing, full-service leasing, and wholesale finance systems are well-known, and many of the world's leading automotive finance companies use CFS products. DSI is a leader in lease and portfolio management software with many of the world's largest equipment lessors as its customers. The synergy of the two companies' vehicle and equipment expertise combined with their customer and market focus will make IDS an authoritative, global market leader in leasing and wholesale finance software and services. Following completion of the transaction Mr. Al Stein, Executive Chairman of CFS Group plc, will become Executive Chairman of the enlarged Group and Jim Meinen, President of DSI will become CEO. IDS will have sales and support offices in Basingstoke and Hursley (England), Minneapolis and Boston (US), Sydney (Australia) and Singapore. According to Jim Meinen, president of DSI and proposed CEO of IDS Group plc in Minneapolis, "The combined strength of our highly skilled global workforce, the strength of a public company and our extensive geographic presence creates a financial software development powerhouse. IDS will leverage e-business technologies to offer innovative products and services for expanding global markets." Alfred Stein, Executive Chairman of CFS Group plc said: "This is excellent news for CFS. The enlarged group will provide greater opportunities for our customers and employees. I am particularly delighted that Jim Meinen has agreed to become our Chief Executive Officer and believe that he will be a key figure in driving forward the new IDS Group. I extend a warm welcome to Jim and his team." About Decision Systems, Inc. Decision Systems, Inc., is a worldwide leader in lease portfolio management software and services. Founded in 1974 and headquartered in Minneapolis, Minn., USA, Decision Systems also has offices in Sydney, Singapore, and London. DSI is one of the largest leasing software firms in the world employing 360 people. DSI's software manages more than $200 billion in net assets for over 300 clients world-wide, including many of the world's top leasing companies. About CFS Group Founded in 1976, CFS Group is a major international software company focused on providing optimal solutions to the asset-based finance industry. It is recognized as a world leader in wholesale finance and lease/loan administration systems, including licensed systems, ASP, managed facilities, implementation and custom development. The company is publicly traded under the symbol CFS on the London Stock Exchange. CFS employs more than 210 people and has over 320 customers in 25 countries. Contacts: Decision Systems, Inc. Jim Meinen 612.338.2585 Steve LeBarron CFS Group plc 011.44.20.7409.0048 Alfred Stein Richard Mackay LeaseForum Expands National Sales Force With Opening of New York Office; Earl E. Linthicum Appointed Vice President, Corporate Sales, New York Metropolitan Region BOSTON--(BUSINESS WIRE)--Sept. 27, 2000--LeaseForum, Inc., the premier commercial equipment leasing solutions provider offering lessees an integrated suite of Web-based solutions for managing the leasing lifecycle, announced today the opening of its Woodbury, Conn. office, servicing the needs of large to mid-size companies throughout metropolitan New York, Long Island, Westchester and Fairfield Counties. Earl E. Linthicum has been appointed vice president of corporate sales and will head up the Connecticut office. Mr. Linthicum, formerly an account executive with Mellon US Leasing, brings more than 25 years of strategic sales, promotional and financial experience in the equipment leasing, credit analysis and banking industries. Prior to Mellon, he was an account executive with GE$Capital, where he was responsible for marketing domestic and international financial products to major industries in New York, New Jersey and New England. Mr. Linthicum has held regional and national management positions at MNC Leasing Corporation, Republic Financial Corporation, Controlled Interval Scheduling, Inc., and Export Marketing & Trade Corporation. He began his leasing career with Great Western Leasing and later became a sales executive with Security Pacific Leasing. Before embarking on his leasing career, Mr. Linthicum was an international banking officer with Bankers Trust Company. He received his BA in international relations from the University of South Florida in Tampa. "We are very excited to have Mr. Linthicum join our team," said Susan S. Franklin, president and CEO of LeaseForum. "A focused and seasoned professional, he brings to LeaseForum well-cultivated customer relationships and a solid knowledge of how our offerings respond to their continually evolving needs." About LeaseForum Headquartered in Boston's financial district, LeaseForum is the premier commercial equipment leasing marketplace solutions provider offering lessees an integrated suite of Web-based solutions for managing the leasing lifecycle. LeaseForum enables lessees and lessors to originate leases, manage them across the enterprise and remarket off-lease or surplus equipment. For more information visit www.leaseforum.com or www.remarketxchange.com. CONTACT: LeaseForum, Inc. Donovan Group Susan S. Franklin Philip O'Brien (617) 443-9910 (508) 393-1433 ssf@leaseforum.com pobrien@donovangroup.com The List
"It is merely an informal recap of major changes. Those major changes may not
necessarily be adverse changes, as when a leasing company that is struggling for
funding is acquired by a major bank...It merely puts lease brokers and small leasing
companies on alert that there may be some policy changes at their funding sources."
37 Leasing Companies Major Changes
American Business Leasing ( gone ) any corrections, additions, or comments are appreciated. BULLETIN BOARD ( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in good taste or is outright derogatory). BSB
Leasing Complaint 9/26
Kit - After reading your note from BSB LEASING, I found myself unable to sit still
and not submit this to you. At this moment I do not desire to get this too complicated
~ however, I do wish to put on record in your newsletter, that some folks in the
leasing industry speak from several sides of their mouth. I have worked hard to
quietly maintain dignity, integrity and decorum in this industry since I started
in it in 1979. Over the last two years, I have had clients contacted directly
by BSB LEASING in Denver, and other 'competitors' salespersons or account persons
or whatever politically correct title they wish to have assigned to them - In
any event, MY clients have been told, upon being telephoned by before mentioned
competitors that LJR LEASING was "OUT OF BUSINESS" when my dear clientele inquired
of my where-abouts. And, by the way, these competitors somehow managed to access
private client data from some of the largest DIRECT LENDERS there are. Just wanted
to make myself heard.
We have never had Lori or LJR Leasing as a broker with BSB Leasing. I challenge
her to show how we could have contacted her customers when we have never dealt
with her. We do have in house sales people that compete for business with the
leasing world but our broker side acts as a separate unit and no information is
shared. If she did do business with us she would know how honorable a company
BSB Leasing is. Please feel free to give her my phone number. I would be more
than happy to talk with her about it. We have been in business for close to 20
years, funded almost 400 million dollars in leases, dealt with almost 400 brokers,
if we were stealing brokers customers I think it would have surfaced by now at
NAELB or UAEL. If you check the record we have never had a single complaint in
our history.
I have never been a broker that used BSB or any other source to fund a transaction.
I have been a DIRECT BROKER since 1979. In 1998 I was forwarded a letter from
a client who had been contacted weekly by telephone after receiving a letter from
BSB Leasing. That letter was forwarded to Stephanie Desparois at GE Capital/Colonial
Pacific Leasing. The letter said something to the effect of "BSB is now the designated
leasing source for COLONIAL PACIFIC LEASING CORP". My client was told by whomever
from BSB then began a weekly telephone solicitation, that LJR was either out of
business or likely out of business. That particular letter was the beginning of
a rather nasty and unpleasant series of events at GE/CPLC for me, where I had
been a DIRECT BROKER since 1983 with an OUTSTANDING portfolio w/under 1% delinquency.
In addition to BSB, another 'source' in Southern California named Alliance Funding
managed to access my Client Portfolio information maintained at CPLC - and began
an extensive and exhausting solicitation of my clientele - so much so that I was
again told by Ms Desparois that they were also sent a "Cease & Desist" letter
- this information was told to me by Ms Desparois as instructed by Curt Lysne. Leasing
Network Purchase Option Problems Universal Capital Services
Kit, my company, Citation Financial Group located in Fair Oaks, CA (Sacramento)
is one of the companies having a problem with Universal Capital Services. They
have not returned a Lessee's advance payment nor have they paid us our commisssion
on a brokered transaction. I have sent documents to the NALEB attorney, who is
following up on our complaint with UCS. We have also contacted a collection attorney
in Florida. If you know of others who have been wronged by these people, please
have them contact me. If you want all of the details I will be happy to e-mail
them to you. We need to stop companies who make a bad name for the industry. Bruce
Zwillinger, BSB, cuts off Universal Capital Service Bruce Zwillinger, BSB, cuts
off Universal Capital Service, Springhill, Florida informs NAELB of their action.
This company not returning money to lessee from deal funding by BSB. Many attempts
to get money returned to lessee, but many broker promises by Universal Capital
Service. Universal
Capital Services
Source states Universal Capital Services, Springhill, Florida, took up-front fees
on deal and has not returned to lessee. Lessee is complaining to funding source.
This is the third complaint received on this. Source is trying to find out more
and request this be posted on bulletin board. Source will allow us to state name,
if this is not resolved. Parker Leasing $25,000
SD $29,000 first and last three months did not return money Parker Leasing and
Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints,
advised to pull a D&B, find out who the secured parties are and if I can identify
them, will give them the person to call at the funding source to hear the full
story about what is happening. Parker Leasing and Financing refuses to return
commitment fee and first and last. Dodson Group - Delivery Charge
We had been using the Dodson Group for overnight (Airborne) until recently. They
were charging us $8.75 per overnight (their cost to Airborne is $7.61, who cares,
they deserve a profit). But, in auditing our bills for the last 2 years we kept
noticing that we were being repeatedly charged $12.00 to $18.75 for overnight
on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight",
so we researched further and discovered that most of the overcharges were on checks
going out overnight to vendors and brokers - no way this could be "overweight".
For the past year we have faxed and called Dodson repeatedly to get corrected
invoices - no one would even respond! So, we put them on notice that we would
not pay any more invoices until they corrected their over billing problem - they
never did. Their response was to turn us over to a collection agency! We are convinced
they purposely overcharged us, and probably every other client! Dodson does a
lot of biz with NAELB brokers, don't these brokers need to know about Dodson's
policy of quoting one price and charging another? Universal Finance / Universal Manufacturing Avoid
this company like the plague. I believe that if it is the same one they also run
companies under the name(s) Universal Manufacturing -(Vendor) & Universal Finance
(Credit repair company). I'll look up the e-mail I received on this a while back.
I think what the story was is that Universal Capital would submit a deal to funding
source, then if declined due to personal credit, Universal Finance would repair
credit then resubmit elsewhere. The vendor would be Universal Manufacturing who
would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then
they split excess with lessee. Though I'm not sure about the Florida part. I'll
get back with the additional info ASAP. Universal Capital
Do you know anything about Univerasl Capital Services, Inc., in Spring Hill, Florida
34606. One of the lease brokers I work with is having trouble getting paid on
a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know
if you hear anything. Thanks. 6/12 Metropolitan Mortgage Metropolitan Mortgage
and Sec in Washington had a division that funded the lesser credits. Well they
have stopped and are not honoring their approvals if they don't already have signed
docs. This was told to me by a broker in Arizona who has 10 deals sitting with
them and she is now scrambling to replace them. post script: Sierra Cities stock closed: - 3/16 (down 5.17%) http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BTOB&script=200 editor's opinion evidently not followed in Special Report--Sierra Cities
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