|
September 12, 2001 We all have got to get back to business, to some “normalcy.” The planes need to fly. Safely. Commerce needs to begin. And most likely because there have been no planes, it will take sports events some time to get back to their schedule. But we need to get back to business and not let the terrorist scare us any further. editor __________________________________________________________________ Headlines--- NAELB “Help Desk” Answer to Question Asked on Friday— CapitalStream Announces New Licensed Reseller—Jim Buckles
GE Capital to Become Primary Provider/ U.S.
Equip. Financing
for Xerox AIG Issues Statement On Yesterday's
Terrorist Attacks Amazon Helps Out the Red Cross Wells Fargo & Company Contributes $1 Million to American Red Cross; Company Encourages Customer Contributions At Its 3,000+ Banking Stores in 23 States Brad A. Luecke, Chief Executive Officer Midwest Bank ,Open Letter Readers Reaction to Terrorist Attacks Special: Coping Skills ( How to Cope with Tragedy Like Yesterday ) ### denotes press release We have been trying to locate our Leasing News Advisor Phil Dushey who has offices in downtown New York. If anyone has heard from him, please let us know. editor ___________________________________________________________________ NAELB “Help Desk”The
National Association
of Equipment Leasing
Brokers
(NAELB )has
established a “Help
Desk” for its
members.. Michael
Meacher, President,
announces that Dee
DiBenedictis, who
currently sits on
the NAELB
will man
the Help
Desk. Dee
DiBenedictis has
over 15 years experience
in the industry
working for funding
sources such as
Denrich Leasing
and Unicyn Funding
Group, in capacities
ranging from credit
and documentation
through collections
and marketing “
Dee should be able
to answer just about
any question relating
to the industry,
he said. “
With the fifth anniversary
of her own company
SunStar Equipment
Leasing coming up
in a few months,
she is well aware
of the obstacles
and opportunities
we all face as brokers
in the leasing industry
today.” 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. A special phone number for
the Help Desk has
been established.
The phone will be
answered on Tuesdays
and Thursdays from
noon to 4:00 pm.
Voice mail messages
can be left at anytime. Answers
to Friday’s
Question on Ethics:
Broker calls up funding source and
says, “How
did you like the
way I screwed you
over for $10,000,000.
Was it as good for
you as it was for
me? Well, I thought
it was fun and now
you have a decision
to make---do you
put me in jail and
get nothing or will
you settle for $3,000,000
and give me a clean
bill of health,
so I can go back
to business as usual?” Jake
Kemps---
The
answer to your riddle
is: you take the money.
JAKE Kemps, Cedar Rapids, Ia Reaction to Charlie Lester Three Part Interview Private Label Leasing I have to agree with Mr. Lester’s
comments about recourse
and the problems
for both the discounting
broker and the funder.
I have also found in non-recourse the broker
can get royally
screwed by the funding
source. When your friend is out of a job
it’s a recession.
When you’re
out of a job it’s
a depression! I’m
finding it’s
a tough job market
out there. The uncertain
economic conditions
combined with the
demise of many leasing
companies and the
discontinuance of
broker business
by many funding
sources has significant
narrowed employment
opportunities, particularly
if one is reluctant
to relocate. Job
postings on the
internet are few
and far between
and it seems recruiters
really want to focus
their efforts on
employers. I’d sure like to hear comments
from other people
who are either looking
for a job or who
have recently found
one. Perhaps they
could share tips
as to how they found
their job, or what
methods they’re
currently using
in their job search. Time is your enemy when you’re
looking for a new
job.
Just in case
things really get
ugly, I’ve
purchased a one
way ticket to Honolulu
as I’ve decided
if I’m going
to have to be a
bag lady, it sure
as hell isn’t
going to be in Phoenix!
You know
you’re in Phoenix
when your car overheats
before you put it
in gear; you can
say 115 degrees
without fainting,
and you assume that
people driving black
cars from out of
town. Please be sure to make an announcement
when your classified
section is up and
running. The wide
distribution of
your newsletter
will surely facilitate
job postings that
will help get people
off the street and
back to work. Betty Ferrero ~~~ I have dealt with AT&T, Newcourt,
CIT, Textron Colonial
Pacific and Manifest.
Only Manifest and
Colonial Pacific
were willing to
send a monthly report on my portfolio with
regards to delinquency.
Occasionally I was
asked by these two
to assist in collections.
And because of this problem accounts were assessed
early and handled
promptly. By the same token, I would get calls
from the AT&T/Newcourt
group one day before
they were charging
off a lessee for
assistance...I could not get any answer as to why they
would not call me
sooner in the delinquency,
or why a monthly
report could not
be generated. We
lost a large amount
of residuals because
of this. A number
of these lessees
had major problems
with payments misapplied,
incorrect billings.
etc and got frustrated
with rude, inconsiderate
collection reps. I am still running into problems
with Textron reps
quoting payoffs
to lessees without
my knowledge, again
losing my residual.
Textron will not print a monthly report on the portfolio
- and yes I have
asked repeated for
one. Sometimes it is not a dishonest
broker - but a funding
source that hasn’t
a clue. Cary Sue Lavan Home State Leasing Corp. A Subsidiary of Home State Bank N.A. Ride the “e” Train
Again, my thanks for your support
of our efforts with
the FRC and for
publishing Alan’s
wonderful report
on our conference
last week. With your permission I would like
to run Alan’s
report on the new
eLNA web site at
http://www.elessors.com, with credit to the
Leasing News. Please
let me know and
thanks again.
John Semon ( Thank you for asking. Any reader may post any part or anything we
report. Of course, we do like the credit aspect, as John Semon mentioned as we are trying to build up our readership. editor ) ------------------------------------------------------------------------------------- Internet
Chamber of Commerce
Attend
ICC After-Hours
Tuesday September 25, 2001 6:00 p.m. till 8:30 p.m. ITI Information Technology Institute Denver, CO · Upcoming ICC Events - ICC
After-Hours -
Tuesday September 25, 2001 6:00 p.m. to 8:30 p.m. After-Hours Networking For Internet & Technology Professionals
Hosted by ITI Information
Technology Institute. Free to ICC members and $29 pre-payment
for Non-Members,
$8 MORE at the door.
Located at 410 17th
Street, Suite 1400,
Denver, CO, Corner
of Tremont and 17th
St. across from
the Brown Palace
Hotel. #### ######################### #################### ############### CapitalStream Announces New Licensed
Reseller, Preferred
Broker Solutions Reselling Agreement will provide the equipment leasing industry with continued
support and training
for new and existing
System 1-2.5 and
CapitalStream AdvantageÔ customers. Seattle, WA - - CapitalStream (www.CapitalStream.com), a Seattle-based
provider of a patent
pending, commercial
finance automation
technology for banks,
financial institutions
and manufacturers,
today announced
a licensing deal
with Preferred Broker
Solutions (PBS)
(www.pbs4u.com). The agreement will solidify PBS as a reseller and technical supporter
of CapitalStream’s
legacy desktop products
for the equipment
leasing industry,
System1-2.5 and
CapitalStream Advantage. CapitalStream’s (formerly System 1 Software) well-established
solutions enable
customers to facilitate
lease financing
transactions through
their own desktops.
In addition,
Preferred Broker
Solutions will be
assisting System
1-2.5 customers
in upgrading to
the latest version
of that software,
CapitalStream Advantage,
increasing customers’
speed and flexibility
while saving time
and money. By entering into this reselling
agreement, CapitalStream
will continue to
support products
used by hundreds
of companies in
the equipment leasing
space, through the
sales, technical
support, and training
services provided
by PBS.
Preferred
Broker Solutions
will continue to
sell additional
licenses of both
products to existing
customers, and will
sell and support
CapitalStream Advantage
to new customers.
Existing
System 1-2.5 and
CapitalStream Advantage
customers will continue
receiving client
service support
from CapitalStream.
CapitalStream announces PBS as a
reseller
“CapitalStream has always been
very proud of our
relationship with
the equipment leasing
industry and the
products we have
created to streamline
the complex processes
within it,”
said Stephen Campbell,
president and CEO
of CapitalStream. “ With PBS we are continuing to find new ways to ensure that
our customers get
the support and
training they need
to be more efficient.” “We are pleased to have this
opportunity to continue
providing System
1 and CapitalStream
Advantage software
users support and
training,”
said Jim Buckles,
president of PBS. “Our highly skilled support service will
focus on the needs
of equipment leasing
brokers.” CapitalStream also offers a browser-based
alternative, FinanceCenter,
which enables customers
to extend their
businesses via the
Internet safely,
securely and reliably. This technology reduces
processing time,
lowers costs, and
enables companies to cost effectively
take advantage of
new business opportunities
by automating manual
processes for leases,
loans, lines of
credit, and credit
cards. About
Preferred Broker
Solutions
Headquartered in Edmonds, Washington,
PBS is a service
organization specializing
in support of computer
automation for the
equipment leasing
broker.
By providing
technical support,
on-site training,
Web development,
custom reports,
and document templates,
PBS brings the best
products and support
available.
For
more information
visit www.pbs4u.com
About
CapitalStream
Seattle-based CapitalStream automates
and streamlines
commercial finance
processes for banks,
finance companies,
and manufacturers.
CapitalStream
– FinanceCenterÔ, a patent pending technology, reduces processing time, lowers
costs, and enables
companies to cost
effectively take
advantage of new
business opportunities
by automating manual
processes for leases,
loans, lines of
credit, and credit
cards. CapitalStream,
an established industry
leader for more
than five years
with deep knowledge
about the inner
workings of the
financing world,
has helped hundreds
of financial organizations
increase their competitiveness,
customer service
and profitability. For
more information
visit www.capitalstream.com
####
###################################
##################### -------------------------------------------------------------------------------------------- The
Multistate Tax Commission
(MTC) office located
at the foot of Capitol
Hill in Washington,
D.C. closed yesterday
morning following
the tragedy. Due to the MTC public notice requirements (as well as staff schedules)
the teleconference
cancelled yesterday
will most likely
occur after October
4th.
This will
be a conference
call on the proposed
rule for determining
priority of sales
tax credits when
leased equipment
moves between taxing
jurisdictions. I will circulate dial-in information when the conference call is
rescheduled. Dennis
Brown ;DBROWN@ELAMAIL.COM __________________________________________________________________ GE
Capital to Become
Primary Provider
of U.S. Equipment
Financing for Xerox
Customers; Xerox
to Receive Approximately
$1 Billion in Financing
From GE Capital STAMFORD,
Conn.--(BUSINESS
WIRE)-- --Xerox
Corporation (NYSE:XRX)--
Companies
To Form Joint Venture
For Management of
Xerox's U.S. Customer
Financing and Administrative
Services Xerox
Corporation (NYSE:
XRX) and GE Capital
today announced
a "framework
agreement"
for GE Capital's
Vendor Financial
Services to become
the primary equipment
financing provider
for Xerox customers
in the United States.
When
completed, the agreement
will enable Xerox
customers to quickly
and easily obtain
the Xerox equipment
they need through
flexible financing
solutions. For Xerox,
the implementation
of the agreement
will be a major
step forward in
its progress to
restore the company's
financial strength
by transitioning
equipment financing
to third-party vendors.
For GE Capital's
Vendor Financial
Services, the transactions
will provide an
avenue of current
and future growth
through Xerox's
extensive U.S. customer
base. The
two companies also
agreed to the principal
terms of a financing
arrangement under
which Xerox will
receive from GE
Capital approximately
$1 billion secured
by portions of Xerox's
lease receivables
in the United States.
The
arrangements are
subject to the negotiation
of definitive agreements
and satisfaction
of closing conditions,
including completion
of due diligence.
"For
Xerox, the significance
of these landmark
agreements cannot
be overstated. With
the transition of
U.S. equipment financing
to GE Capital, one
of the world's leading
financial services
companies, Xerox
will transform its
balance sheet by
eliminating substantial
debt while ensuring
that our customers
receive worldclass
financing services
and administrative
support," said
Anne M. Mulcahy,
Xerox president
and chief executive
officer. "The
expected $1 billion
in financing will
further enhance
Xerox's liquidity.
This funding agreement
also becomes an
interim source of
customer financing
for the balance
of the year."
"Our
Vendor Financial
Services business
is dedicated to
helping companies
like Xerox focus
on their core business
by providing specialized
financing programs
backed by the financial
strength and resources
of GE Capital,"
said Denis Nayden,
chairman and chief
executive officer
of GE Capital. "This
agreement affords
Vendor Financial
Services the opportunity
to continue its
partnership with
a leader in the
global document
market, while further
expanding its asset
base and building
upon similar relationships
that it has with
over 100 manufacturers
and 4,500 dealers."
As
part of this transaction,
Xerox will transition
nearly all of its
U.S. customer administration
operations into
a new joint venture
with GE Capital
Vendor Financial
Services. GE Capital
will own 81 percent
of the joint venture
while Xerox will
own 19 percent.
The new company
will be jointly
managed by Xerox
and GE Capital,
and will be headquartered
in Rochester, N.Y.
"Our
goal is to make
the transition for
Xerox's customers
flawless, while
providing them with
the benefits of
our strong expertise
in leasing. We intend
to leverage GE management
systems, digitization
and e-business efforts
and Six Sigma quality
processes to bring
value to Xerox and
its customers,"
said Bill Cary,
chief executive
officer of GE Capital
Vendor Financial
Services. "This
joint venture is
an excellent example
of how we work closely
with our partners
and their customers
to best serve their
needs." It
is anticipated that
Xerox employees
who work in Xerox
customer financing
and administration
offices - located
primarily in Rochester,
Chicago, Dallas
and St. Petersburg,
Fla. - will transfer
to the new joint
venture on January
2, 2002. Their work,
which includes operations
such as order processing,
credit approval,
financing programs,
billing and collections,
is expected to continue
in the current locations,
ensuring further
continuity for Xerox
customers and Xerox
employees. "Our
partnership with
GE Capital offers
Xerox the best of
both worlds. We
will continue to
benefit from the
knowledge and skills
of people who know
our customers and
business best while
maximizing GE Capital's
renowned expertise
in managing complex
operational processes,"
said Barry D. Romeril,
Xerox vice chairman
and chief financial
officer. "This
framework agreement
and financing represent
a significant milestone
in the financial
turnaround of Xerox."
Last
October, Xerox announced
it would move to
third-party equipment
financing as part
of the company's
turnaround strategy
to restore its financial
strength and return
to profitability.
Over time, this
is expected to remove
as much as $10 billion
in financing-related
debt from the Xerox
balance sheet. Approximately
65 percent of Xerox's
total debt is related
to equipment financing,
close to half of
which is in the
U.S. About
Xerox Xerox
Corporation is an
$18.7 billion global
enterprise with
85,000 employees
serving customers
in 130 countries.
Xerox makes the
digital world work
better with an array
of innovative, document-related
solutions, services
and systems, including
color and black-and-white
digital printers,
multifunction devices
and copiers designed
for offices and
production-printing
environments. About
GE Capital GE
Capital Vendor Financial
Services, a global
leader in developing
and providing financial
solutions and services
to equipment manufacturers,
distributors, dealers
and their end users,
has over $16 billion
in served assets
worldwide. Vendor
Financial Services
serves approximately
100 manufacturers,
4,500 dealers and
currently has over
500,000 accounts
in 33 countries.
GE
Capital, with assets
of more than $370
billion, is a global,
diversified financial
services company
grouped into six
key operating segments
comprised of 24
businesses. A wholly
owned subsidiary
of General Electric
Company, GE Capital,
based in Stamford,
Connecticut, provides
a variety of consumer
services, such as
credit cards and
life and auto insurance;
mid-market financing;
specialized financing;
specialty insurance;
equipment management,
and specialized
services, to businesses
and individuals
in 47 countries
around the world.
GE is a diversified
services, technology
and manufacturing
company with operations
worldwide. For
more information
about GE Capital
and Vendor Financial
Services, visit
www.gecapital.com.
For more information
on Xerox, visit
www.xerox.com. ###
#########################
#########################
########### AIG Issues Statement On Yesterday's Terrorist
Attacks NEW
YORK--(BUSINESS
WIRE)-- --American
International Group,
Inc. (AIG) Chairman
M.R. Greenberg issued
the following statement
on the impact of
yesterday's terrorist
attacks: "These
attacks are an enormous
human and national
tragedy. Like everyone,
our major concern
at this time is
the human cost and
suffering incurred.
All monetary losses
pale against this
suffering. AIG people
are working around
the clock to provide
immediate assistance
to all who have
suffered losses
in this tragedy.
"AIG
is operational in
New York and around
the world. Although
our lower Manhattan
offices are closed
today, we have back-up
facilities in place
in the greater New
York area and other
locations, so that
all key business
functions are proceeding.
"While
we of course expect
to incur losses
resulting from insurance
claims, it is far
too early to estimate
their magnitude.
However, AIG is
the strongest insurance
and financial services
company in the world,
with total assets
in excess of $400
billion. We are
well diversified,
both as to type
of insurance coverages
and geographically.
Our total losses
stemming from this
tragedy will not
impact our solid
financial condition."
AIG
is the leading U.S.-based
international insurance
and financial services
organization and
the largest underwriter
of commercial and
industrial insurance
in the United States.
Its member companies
write a wide range
of commercial, personal
and life insurance
products through
a variety of distribution
channels in approximately
130 countries and
jurisdictions throughout
the world. AIG's
global businesses
also include financial
services and asset
management, including
aircraft leasing,
financial products,
trading and market
making, consumer
financial, institutional,
retail and direct
investment fund
asset management,
real estate investment
management, and
retirement savings
products. American
International Group,
Inc.'s common stock
is listed on the
New York Stock Exchange,
as well as the stock
exchanges in London,
Paris, Switzerland
and Tokyo. ###
####################
####################
################ Amazon Helps Out the Red Cross By Beth Cox e-commerce news Internet retail giant Amazon.com, whose front page is usually littered with ads for dozens of products being touted for sale, today was sporting a simple box directing visitors to make a donation to the American Red Cross Relief Fund following the terrorist attacks yesterday. The message extends the sympathies of all those at Amazon, and tells visitors they can make a contribution of $1 to $50. And donate they did. The site at midday was reporting that almost half a million dollars had been donated so far, from more than 17,000 people. "All of us at Amazon.com are deeply saddened by the recent tragedies in New York City, Washington, D.C. and southwestern Pennsylvania" the site says. "ALL donated money will go to the Red Cross to help victims of this and other tragedies." The site, which continues to lists its shopping categories down the left but is bereft of all the usual shopper-enticing promotions, then offers a "how you can contribute" link that lets visitors donate via their credit cards as part of the Amazon Honor System. The honor system lets users employ Amazon.com payment technology to make payments to Web sites for as little as $1. ____ ### ############################# ########################## ##### Wells Fargo & Company Contributes $1 Million to American Red Cross; Company Encourages Customer Contributions At Its 3,000+ Banking Stores in 23 States PORTLAND, Ore--Wells Fargo & Company said today it will contribute $1 million to the American Red Cross disaster relief fund to support efforts to assist victims and families of yesterday's national disaster. "This disaster has galvanized all Americans in a unified effort to provide as much help as possible for the victims and families in the wake of yesterday's horrific attacks," said George Passadore, regional president for Wells Fargo in Oregon. "In addition to this contribution, we've established a Wells Fargo-Red Cross account in all of our more than 3,000 banking stores in 23 states as a convenient way for our customers, team members and all Americans to make personal contributions to the National Red Cross disaster relief fund. On behalf of all 120,000 of our team members, our thoughts and prayers are with the victims and their families." Customers and others can make contributions at any Wells Fargo banking store payable to: Victims of World Trade Center, Account No. 1352543159. Wells Fargo team members are coordinating blood drives with local Red Cross chapters in a number of Wells Fargo communities across the country. Wells Fargo is a $290 billion financial services company providing banking, insurance, investments, mortgage and consumer finance through more than 5,400 stores, the Internet (wellsfargo.com) and other distribution channels across North America and elsewhere internationally. ###
##################
#######################
############## An Open Letter To Our Shareholders From Brad A. Luecke, Chief Executive Officer Business Editors MELROSE PARK, Ill --Midwest BancHoldings, Inc. (Nasdaq: MBHI), a community-based bank holding company, released the following open letter to all shareholders, customers and employees regarding the terrorist actions yesterday: Important Message from Brad A. Luecke, President and Chief Executive Officer. All of us at Midwest Banc Holdings, Inc. are deeply saddened by the shameful terrorist activities in New York, Washington and Western Pennsylvania yesterday morning. As many of you watched last evening on television, thousands of families will be needlessly and tragically affected by this horrible series of events. Some of our shareholders, business partners, customers and employees may have been touched by friends and family members affected by the attack--whether onsite in New York or Washington, or stranded elsewhere seeking a way back home. We want to offer our sincerest condolences and prayers to the families of innocent people and the many heroes-- police, firemen and average citizens--who were victims of this tragedy. We want to assure you that this senseless act will not affect Midwest Banc or its subsidiaries or the banking industry overall. Our banks are open and fully operational. We will meet all customer needs on a business as usual basis. The integrity of our business, the banking system and the financial markets remains intact as undisputed examples of what makes our country great. It is time for everyone in this country to step up for America. No contribution is too small--be it a comforting word to a friend or work associate, donating blood as part of the larger relief effort, or simply demonstrating by our every day actions and continued business operations that we will not be intimidated by terrorist acts. During the next few days, many things will be happening as efforts are made to proceed with the recovery and restore normal everyday conditions. We expect financial markets may be closed for the rest of the week, and when re-opened, stocks may be temporarily adversely affected. The Federal Reserve may take pre-emptive steps to lower short-term interest rates to reassure businesses, consumers and investors. Air travel--scheduling, security procedures and prices - may be affected dramatically in the weeks and months ahead. Recovery and restoration efforts and our response to these events may have an impact on the economy in the near future. Do not become alarmed or overly concerned. These may be important steps to restore normality as soon as possible. We are fully confident that many changes will be short-term in nature and, as always, the country--individuals, families, businesses and investors--will emerge stronger than ever before. Things will change, but ultimately, a wiser stronger America will still serve as the unchallenged and undisputed source of financial and economic leadership in a difficult and uncertain world. End of Open Letter Midwest Banc Holdings, Inc. provides a wide range of commercial and consumer banking services, trust services, residential mortgage origination, insurance and securities brokerage activities throughout the greater Chicago metropolitan area and Western Illinois. The company's four principal operating subsidiaries are: Midwest Bank and Trust Company, Midwest Bank of Hinsdale, Midwest Bank of McHenry County and Midwest Bank of Western Illinois. #### ######################### ####################### Terrorist
Attack
When I came home last night, Sue
had the flag hanging
from the up-stairs
window. I was very
proud to see that.
I saw other
flags in the neighborhood hanging outside their windows. This
morning I see their
are news reports that stores are selling out of American
Flags. Leasing News was cancelled yesterday
to bring reports
to people still
at work, especially
if there was no
access to television,
or radio. I am sorry to report several people
asked to be removed
from our mailing
list because of the reports we sent out. We
also received e-mail
like:
Please
stick to leasing
news. You are slightly
better at it.
Nick Gibbens Other leasing dailies are talking about how this is effecting our economy, and only have negative news. We are trying to provide a forum, a catharsis, if you will, and follow the leadership that is being said by both Democratics and Republicans and all parties, the Mayors of San
Jose, San Francisco,
Oakland, New York,
the Congressmen
and Senators, the
Secretary of State,
the Executive Staff
Members, and the President of the United
States that I have
seen on television. Be calm. Be positive. Have courage. This will not be settled quickly, but will
be as it is a multi-faceted
operation, as Colin
Powell described
it, and we need
to be Americans.
I heard on local radio from the
wife of a passenger
in the East Bay
who was on the Newark-San
Francisco flight---
once her husband
heard about the
World Trade Tower
strikes, and the
purpose of the hijack,
he and a few others
were going to do
something about
it, take on the
terrorists in the
pilots area and
bring down the plane
before it could
hit its target.
That is courage. Leasing News is going on with industry
news as printed
above, but despite
the criticism and
cancellation from
readers, Leasing
News is going to
continue to print
reaction and comments.
If you object to
this, we suggest
you skip this section.
If you don’t
want to read how
your colleagues
feel and think about
what is happening
to them, don’t
read further. We
believe it is our
responsibility to
share this information
with all readers: ---- Thank you for your updates yesterday during a difficult time for our country. A friend sent the following email to me and I thought you would appreciate it. God Bless America! Kathy Graves, VP Customer Service kathyg@finpac.com Direct line - 800-522-8627 ~~~ thanks for your updates during this terrible tragedy. Please pass this on to your constituents. Jonathan Jonathan P. Murti US Leasing Program Manager Cisco Systems Capital jmurti@cisco.com 408-853-3402 direct 650-906-7468 cell 800-365-4578 pager Subject: Fwd: Fly the Flag! This is one of those chain letters that should be passed around. Send it to EVERYONE you know. An attack took place on our nation and way of life today. The main goal of a terrorist to disrupt the very fabric of our society and the confidence in our nation. Well, guess what? America doesn't take this kind of thing laying down. And we want to make sure all the cowards of the world are aware of it. So, I ask all of you to do one thing: If you do not own an American Flag, go buy one TODAY and proudly display it outside. If you have one, stop what you are doing now and go display it. This small show of solidarity on your part demonstrates a united people who WILL NOT be dictated to by the likes of those who seek to disrupt our way of life. Our thoughts are with those directly affected by this tragedy. Let the next story you, and the perpetrators, hear on CNN is how every retail outlet in the country is absolutely sold out of American Flags. ~~~ I think it would be a great help if we communicate to others how potential lessees are reacting, how debt sources are reacting, and how us brokers are reacting. Obviously some parts of the country will be effected more than others. Personally I have made many call backs and cold calls and have found people are still working and moving forward. Hopefully this will continue. Our fundings are still going through as some of our debt sources have been very accommodating. The main problem I see right now is knee jerk reactions by potential lessees and the loss of overnighting capabilities. We must not let a few faceless cowards scare us into retreat. That is exactly what these terrorists want us to do. So lets keep up the lines of communication and work through this, not cower through it. Brian Callahan GSC Capital bcallahan@gsccapital.co P.S. You may quote me on the above but not this: I know this email may seem insensitive but our industry could be in great risk at this moment. Its easy for lessees to put off a purchases cause they are scared or want to wait until the markets open. The truth of the matter is that although we have experienced a great tragedy, many opportunities will open for us. Remember that war is good for the economy. Your newsletter provides a perfect platform to voice these reactions and our plans. ~~~~ About 2:30 this morning Pacific time I was abruptly awaken but at first could not figure out why. Then a few seconds later I heard that very load roaring sound that was familiar to me but I still could not place it as I was not fully awake. Then it came to me. That was the sound of military jets. I used to live near El Toro MCAS and Yuma MCAS so the sound that used to drive me nuts, made me all choked up and I fell back to sleep with a smile on my face. What a wonderful feeling to know, do to recent circumstances, that our military is patrolling our airspace. Those planes must be from Los Alamitos (near Long Beach) since El Toro has been closed for a few years. God Bless America! Ginny Young Brava Capital Orange, CA ~~ I served 8 1/2 years in the Marines. I was in Okinawa, Japan during Desert Storm. Being on full alert makes your wonder when you will be called to action. All we can do as civilians is to support any decision our President makes and pray for all of the families and pray for America. Please make it a point to donate at any Red Cross Center. Believe me, prayers are heard and don't forget to tell your friends to donate blood. It's important and its our duty. Tim Mortimer Asst. Vice President The CIT Group/EF ~~~~ Here is what has been told to us about the Amex office in NY. Scary that I and the family were at the Marriott last year (at the base of the WTC that was attacked.) We left our 8 and 12 yr old kids in the hotel room as we attended meetings at Amex..... My God. Never again!! ( name with held ) Date: September 11, 2001 City: New York From: Kenneth I. Chenault Office: Office of the Chairman Subject: Update on Today's Tragedy To: All American Express Employees By now you have all heard the tragic news of the attack on lower Manhattan and the Pentagon in Washington, D.C. I'm writing to provide some additional information regarding the immediate impact on American Express. We evacuated all employees from the American Express Tower and 7 World Trade Center shortly after 9 a.m. Eastern time. The evacuation was a comprehensive effort conducted by Security, but there is always a chance that not all employees left the building. We have no specific information about this yet. There are a small number of employees assigned to an office in 1 World Trade Center Tower (we believe fewer than 20). We do not have definitive information about them at this time, but we are contacting their homes. We do not know the extent of the damage to the American Express Tower, and the earliest we will know is tomorrow. My understanding is that, in addition to the two main towers, 7 WTC has also collapsed. We have notified New York City employees via voice mail and an emergency hotline (the Business Continuity Hotline at 888-505-0040) that the American Express Tower, as well as all American Express facilities in lower Manhattan will be closed tomorrow, Wednesday. We will provide an update with regard to the rest of the week sometime tomorrow. In addition, we will provide updates to employees via e-mail as information becomes available. end of memo ( looks like no one was injuried or hurt from American Express ) ~~~~~~~ Thank you for all the updates - I know the internet is providing contact when telephones can not. Yesterday was horrific! But the madness will continue when we teach hate instead of love and tolerance. By this, I do not mean that we should tolerate the horror of yesterday - but we can not just wipe out a region of people because of the behavior of a few. The scene of children dancing in the streets reminded me that most of these people are taught from an early age to hate the Americans; that we are ogors that eat children. They do not know the truth, and to state that we should "just wipe them out" for a lack of knowledge is the most inhumane thing I have ever heard. We must trust in our elected leaders - both those currently in office and the former leaders who have a wealth of knowledge and experience - to handle this, and for the general public to not start aggressive activities against others. And yes, everyone who can please give blood. And if like my husband and myself you can not donate for another couple of weeks, donate your help at the blood bank. Yesterday mine was overrun with people to donate and the staff needed assistance with the telephones and some paper work. My prayers to all. Cary Lavan clavan@homestbk.com ~~ Things were really strange today driving to work on 80 East in Northern New Jersey. I passed a military truck this morning driving into work and wondered what they were going to do and what will become of all this destruction. NYC is virtually closed. All tunnels are closed and only one bridge is open going into NY and it is about 30 minutes North of NYC. The mayor of NYC asked people to stay home today so rescue workers could use the roads. NYC is a totally different place today. Lower Manhattan is almost a ghost town with the exception of the few blocks filled with rescue workers and heavy equipment. There is a lot of talk around the water coolers and in the huddle of smokers about friends a family that were there and the stories they had. There is also a lot of anger being expressed and some people are still in shock, including myself. This morning when I got up, the first thing I thought was how much it was like the movies and wished that was all it was. It just doesn't seem real. I moved New Jersey only four years but I feel like a part of me is missing now. I looked at the skyline this morning on my way into work and couldn't see the towers anymore. I didn't pay that much attention to the WTC in the mornings when I could see the sun coming up from behind them until today. NYC is a great city and I love living close to it. It makes me feel alive when I visit it or even look over at it from the highway. I am glad to be close to it now and only wish there was something I could do to help the people and the city. I thank God that my family is OK and we are all alive and well and pray for all the workers, volunteers, and victims in lower Manhattan. Kevin Stoltz Information Technology Mgr. Avaya Financial Services / Expanets Financial Services 650 CIT Drive Mail Drop 4105a Livingston, NJ 07039 973-740-5700 (Phone) 973-422-3869 (Fax) Here at LeaseNOW we will remember
your son and think
of him during this crisis. I am sure you are
both proud of him
and worried about
him at the same time. Let’s hope
that he is never
in harm’s way. Our
prayers are with
you.
Bob
President LeaseNOW, Inc. drlease@leasenow.com <mailto:drlease@leasenow.com> www.leasenow.com <http://www.leasenow.com> ~~~ Before I got into the leasing business, I worked a part time job as a gate security agent at LAX Tom Bradley International Terminal. Ever since that time I have always been afraid to fly, as what I saw gave me great concern. You may ask how someone could bring a dangerous object like a knife or gun on the plane, let me tell you very simply why this is possible: 1) The staff that I worked with all had background checks, but a few of them had felony convictions and were still allowed to work. 2) The people that worked at McDonald's were being paid more per hour than the people that were charged with your security. At the time, I made $5.50 per hour. 3) On at least two occasions that I have direct knowledge of we failed an FAA inspection. The first was a suitcase with a fake explosive device that was run through the X-ray machine and was cleared by an agent who had been working on the machine for nearly two hours. You were supposed to be limited to 15 or 30 minutes. The second time, an FAA inspector had brought what appeared to be a large knife, which was clearly visible on the X-ray, and was tagged for a supervisor to search. The supervisor searched and cleared the bag. Then the FAA inspector show her badge and pull the large knife, almost 12 inches long, out of her bag. We had failed again. 4) Our training consisted of watching 6 hours worth of videos that were very hokey and purposeless. 4) The airlines pay millions of dollars per year for this "service" and I am sorry to say they are not getting their monies worth. I do not know where blame should be assessed, but certainly we could do a far better job of protecting the American public during their travels. My suggestion, for whatever it is worth, is to have a trained and sworn police officer supervise each of these checkpoints, as well as increasing the pay to $15 or $16 per hour to recruit a well-qualified staff. Would you pay an extra $5 per ticket to fund this? I would, and I bet many, many others would to. Thanks for keeping us up to date with all the news that's fit to print, leasing and otherwise. Matthew Jones babyrn2000@aol.com ~~~ Dear Kit and Colleagues, In Canada today every citizen watched with shock, horror and anger as the horrendous events unfolded. Business and government ground to a standstill, perfect strangers stopped wherever they were in public places to share the news and commiserate. School teachers of all grades stopped lessons and tried to tell the children what had happened, and tried to answer the question on everyone's lips, from the young to the old: "why?". On behalf of our company, and employees, and if I may presume, on behalf of all Canadians, I wish to express our deepest sympathy for everyone who has been affected by this tragedy. Our thoughts and prayers are with you. Sincerely, Scott Hinsperger Alliance Financing Group Inc. <scott@alliancefinancing.com ~~~ I
personally do not
believe that an
eye for an eye settles
anything, but when
you are dealing
with the terrorists
who planned yesterdays
massacres, we must
determine who was
behind it, then
strike hard, strike
fast and eliminate
every
last one of these
predators. I cannot fathom the terror the passengers of
the 4 airplanes
experienced in their
last moments, but
I only hope that
they are now in
heaven. The people
in
the World trade
center and the brave
Firefighters and
Police never knew
what
hit them. I think
of their families
waiting for Fathers
and Mothers to come
home, who will never
come! I grew up in Pennsylvania, in a small town
about 30 miles away
from the crash
site of one of the
planes and thankfully,
the impact site
was unpopulated!
I used to work in
Washington DC and
many times was on
the overpass
in front of the
Pentagon, stuck
in traffic at about
the time the plane
was crashing into
the building! My
uncle worked there
many years installing
telephone systems
and upgrades for
the phone company. This is like Pearl Harbor, but the difference
is that we do not
know who our
enemy is, yet! As
much as I want to
see an immediate
punishment, we must
be
sure who the enemy
is and the strike
hard, strike fast
and eliminate the
enemy
so that they can
never again cause
the pain and suffering
to innocent people! Sincerely, Joe
Leslie FCI
Financial Services,
Inc. ~~~ Kit,
may your son and
all the other sons
and daughters in
our military be
safe
and come home to
their families! ~~~ God
bless your son and
the men and women
who protect. Our
prayers are with
those
hurting. Thanks
for the message. Best
Regards, Michael
F. Boyd LeaseNOW,
Inc. ~~~ So
glad to hear your
son's all right.
Thanks for
your coverage today,
and for your newsletter. William
Erwin ~~~~ My
son, Roger served
three years active
duty in the 101st
Airborne and one
year
active duty in the
82nd Airborne. When
in the 101st he
spent 6 months in
the Sinai as part
of the Peace Keeping
Forces. He went
into the 82nd airborne
to go to back to
the Sinai for another
6 months, but a
parachuting accident
severely damaged
the bones in his
left ankle and he
wasn't able to go with his unit when they left for the Sinai. Additionally
he has been in the
Reserves for another
11 years. Even
though he was on
vacation, his first
thought yesterday
morning was to call
his unit to see
if they needed his
help. C.
Rogers Childs, Jr.
- Vice President European
American Bank/CitiCorp 1500
Market Street Centre
Square Building 12th
Floor - East Tower Philadelphia,
Pa 19102-2107 Phone:
215-246-3411 Fax: 215-569-2865 Email:
rchilds@bellatlantic.net ~~~ We
are still in a state
of shock with family
and friends working
in NYC in or
near the WTC, we
sere quite concerned
all day. My son's
father-in-law is a
partner in a law
firm high up in
WTC., He always
is in the office
early. Today
he slept late recovering
from jet lag.
That saved
his life! I would bet,
however, that he
lost many, many
friends and colleagues
in that office today. My son who walks to work from Greenwich Village
to Soho everyday looks
out at the towers
as a guiding light
sort of. This past
weekend he and my
daughter-in-law
were in California
for a wedding. They
are now in SF and were
scheduled for the
red eye tonight.
We told them to
stay 3-4 days in
SF with
their friends and
wait this out.
This has
been a tough tough
day for us
all. We
can be proud that
we have people like
your son in the
military defending the
freedoms we all
have taken for granted.
Godspeed. Steven
B. Geller, CLP Leasing
Solutions LLC www.leasingsolutionsllc.com 20
Dike Drive, Wesley
Hills, NY 10952 sgeller@leasingsolutionsllc.com phone:(845)362-6106
fax: (845) 354-2803 cell
phone: (914) 552-0842 ~~~ Last night, while glued to the news
my husband and I
heard a plane fly
overhead, but it
was unlike any we
had ever heard (and
we knew that all the airports throughout the
country were shut
down) - it turned
out that it was
a fighter jet protecting
NYC borders. We
aren’t in some
third world country, this is the United
States - our home,
and it’s inconceivable
that this is our
tragedy! My colleague Stan Evans responded
yesterday to an
email I sent him
the day before.
Stan concluded by
writing “God
bless you, yours
and our country”, and I cried for
all of us. I feel so helpless and want to do
something, anything
to help. I drove
first to our local
blood center and
then the local hospitals
to give blood, but all are closed and may open
tomorrow. To pray for those that who were
in harms way yesterday
and their loved
ones, those that
may have to go to
war, and for our
country is what we all have to do. Helene G. Kugit <helenekugit@exsolutions.com ~~~ The World Trade Center was the world headquarters for Morgan Stanley. I have dozens of friends with whom I have worked over the years. A real tragedy. The senior management of the firm was at an uptown meeting and survived the attack. We don't know yet how many of my coworkers died, but the firm is so diversified that the mechanics survived. A time for calm and reason, but it is also a time to be resolute. It is a time of testing. Jerry Jerry T. Estruth" <caddisfly@worldnet.att.ne I believe it is very, very, important to remember that Americans come in every size, shape, color, religion, and origin. Let's not let hate drive us to take our anger out on another American because they may resemble the origin of the people suspected of perpetrating this horror. God bless America and ALL Americans. Jim ~~~ It astounds me to think today how many people met their maker. It is even more astounding to think how many people will not spend eternity with him because they did not accept his salvation thru his son Christ. Makes you want to make sure that you have your heart right with God because you never know what tomorrow will bring. Tim Baker ~~~ I notice the high level of discussion you are posting on your web site regarding the nation's recent events and though I might suggest you install the Message Board software we use on Lessors.com. It will greatly reduce the level of administration required to post your viewer's comments and actually provide immediate response opportunities. The software is free from DiscusWare. DiscusWare, LLC specializes in the development and implementation of WWW discussion board software. You can download it from http://www.discusware.com/. As an alternative, should you not have the resource to install this software, I would be happy to create a separate board on the Lessors.com Message Board called "Kit Menkin's Leasing News" for your use. Just let me know. Regards, John Semon CEO Lessors.com ~~~ Widespread but only partial news coverage was given recently to a remarkable editorial broadcast from Toronto by Gordon Sinclair, a Canadian television commentator. What follows is the full text of his trenchant remarks as printed in the Congressional Record:
'This Canadian thinks it is time to speak up for the Americans as the most generous and possibly the least appreciated people on all the earth. Germany, Japan and, to a lesser extent, Britain and Italy were lifted out of the debris of war by the Americans who poured in billions of dollars and forgave other billions in debts. None of these countries is today paying even the interest on its remaining debts to the United States. When the France was in danger of collapsing in 1956, it was the Americans who propped it up, and their reward was to be insulted and swindled on the streets of Paris. I was there. I saw it.
When earthquakes hit distant cities, it is the United States that hurries in to help. This spring, 59 American communities were flattened by tornadoes.
Nobody helped. The Marshall Plan and the Truman Policy pumped billions of dollars into discouraged countries. Now newspapers in those countries are writing about the decadent, warmongering Americans. I'd like to see just one of those countries that is gloating over the erosion of the United States dollar build its own airplane. Does any other country in the world have a plane to equal the Boeing Jumbo Jet, the Lockheed Tri-Star, or the Douglas DC10? If so, why don't they fly them? Why do all the International lines except Russia fly American Planes? Why does no other land on earth even consider putting a man or woman on the moon? You talk about Japanese technocracy, and you get radios. You talk about German technocracy, and you get automobiles. You talk about American technocracy, and you find men on the moon - not once, but several times - and safely home again. You talk about scandals, and the Americans put theirs right in the store window for everybody to look at . Even their draft-dodgers are not pursued and hounded. They are here on our streets, and most of them, unless they are breaking Canadian laws, are getting American dollars from ma and pa at home to spend here. When the railways of France, Germany and India were breaking down through age, it was the Americans who rebuilt them. When the Pennsylvania Railroad and the New York Central went broke, nobody loaned them an old caboose. Both are still broke. I can name you 5000 times when the Americans raced to the help of other people in trouble. Can you name me even one time when someone else raced to the Americans in trouble? I don't think there was outside help even during the San Francisco earthquake. Our neighbors have faced it alone, and I'm one Canadian who is damned tired of hearing them get kicked around. They will come out of this thing with their flag high. And when they do, they are entitled to thumb their nose at the lands that are gloating over their present troubles. I hope Canada is not one of those.' Stand proud, America! ~~~ NBC TOPS IN NATIONAL COVERAGE: 14.7 RATING/ 20 SHARE -- 8 PM ET TO 11 PM ET.... ABC 12.2/17; CBS 10.2/14; FOX 5.0/7... DAN RATHER MOST-WATCHED IN NEW YORK CITY DURING PRIMETIME HOURS OF TERROR COVERAGE: 18.4 RATING/24 SHARE ON WCBS... BROKAW: 13.4/14; JENNINGS LAST WITH 7.4/10... MORE... ( I personally thought Tom Brokaw did an outstanding job. editor ) ## ############################# ####################### ########## NY Tragedy Costing Americans Their Health Unless They Use Coping Skills
SAN FRANCISCO 'Coping When Tragedy Strikes'-America's Communication Coach Tom Marcoux Offers Coping Strategies-In Response To The Terrorist Disaster In New York "Use coping strategies to our national disaster or pay the price in health problems," says Tom Marcoux, America's Communication Coach and author of "Coping When Tragedy Strikes." Marcoux is now appearing in various cities and helping people cope with feelings of fear and overwhelm - during our nation's response to the tragic disasters in New York and elsewhere. "We must avoid adrenal fatigue," says Marcoux. "Many people fear terrorist strikes will occur in more U.S. cities. We all need coping strategies. Disasters incite our fear and adrenaline responses. I am making myself available to the media - and in churches, etc. to provide support many people need," said, Tom Marcoux, guest instructor at Stanford University, faculty instructor at Cogswell Polytechnical College, Silicon Valley. Marcoux is the author of "Communicate to Win" - a required textbook at Cogswell. Marcoux, a member of the National Speakers Association, speaks to professionals of numerous top companies. Marcoux has a degree in psychology and television production and won a special award at the Emmy Awards. He is certified to offer pastoral counseling. Tom Marcoux (www.TomMarcoux.com) offers these excerpts from his book " Coping When Tragedy Strikes" -- the acrostic is "C.O.P.E.": CREATE Create Time-Pockets. Take time to create peace for yourself. Turn off CNN - check-in every 3 hours. Keeping CNN on constantly keeps you in an adrenaline-state. Rest, exercise, talk with family members with the TV off. See a counselor or support group. Distract your mind with a movie. Maintain daily routine as a much as possible. OPEN Open to focus on what is unchangeable. You are a Spirit having a human experience. Devote time to spiritual practices. Write in a journal, read spiritual books -- gain a larger, comforting perspective. PREPARE Prepare your options. To handle fear, make a list of options. Call an out-of-state friend and set up a place so family members can leave/pickup messages. EXPECT Expect and focus on the good. Release fear and direct your own thoughts positively. This is "Expectation Management," which Marcoux covers in his book "How to Heal When Life's Too Much". Focus on: -- "There is room for hope." -- "In this moment, I am all right." -- "I can handle this." -- "I can learn what I need to." -- "We'll get through this together." "Many people connect being a good person with worrying about other people. Consider the replacement for worry is being concerned, taking action (preparing) and letting go," Marcoux said. "Researchers find unrelieved stress causes health problems. It's crucial that everyone use a coping strategy." Marcoux said. Call 415/643-0763 or email tom_marcoux@hotmail.com or http://www.TomMarcoux.com for Marcoux's next FREE appearance. Marcoux co-wrote the book "Women's Spirit Awakening", and WSA team is helping people. Get a FREE report "Coping When Tragedy Strikes" Toll free 866/HYPNO-33. ### ################### ######################### _______________________________________________________________
|
|
