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September 17, 2001 Headlines--- Dow closes down more than 680 points Tech economy might get some jolts, but some got a bump in the road today Fed cuts interest by half-point in effort to boost economy Eastern Association of Equipment Leasing Postpones Conference to Nov. 19 First South Bank Announces Creation of New Leasing Company American Bank Equipment Lease Finance Unit Closing Today Jim Buckles: SEAMLESS WEB INTERFACE FOR YOUR VENDORS Burlington Industries Adopts Enterprise Equipment Financing Solution from LENDX BSB appoints Hank Kumpf Regional Sales mgr Southeast U.S. “Business Leasing For Dummies" –latest book on the stands ( not a joke, book to hit stands this October ) Sunday Sermon Reaction and more----- . ### denotes press release ________________________________________________________ Dow closes down more than 680 points By LISA SINGHANIA ASSOCIATED PRESS NEW YORK -- Scared investors sent stocks reeling Monday as Wall Street resumed trading after its longest shutdown since the Great Depression. The Dow Jones industrial average set a new record for a one-day point drop and closed below 9,000 for the first time in more than 2 1/2 years. The Dow ended the day down about 681 points at the 8,924, according to preliminary calculations. Its previous record for a one-day drop was 617.78, set April 14, 2000. The heavy selling was widely expected in a market already fragile because of poor corporate profits and outlooks. And since the attacks, which shut the nation's stock market for four days, the major airlines have announced cutbacks and reduced schedules, adding to investors' nervousness about the future. But the Federal Reserve, hoping to boost the economy and the market's confidence, cut interest rates by a half-point--the eighth rate cut so far this year--an hour before trading began. The nation's financial leaders had called on investors to treat the market's reopening as a buying opportunity instead of a reason to sell. New York Stock Exchange chairman Richard A. Grasso was sanguine about the volatility after the opening bell: "Today's market is not important. It's the market a year from now, two years from now." Many investors didn't seem to be unnerved by the market's drop. Ronald Loftus, a broker in Springfield, Mass., said he was fielding phone calls from people who wanted to know what was going on, but said he'd seen no panic selling. "In fact, the reaction has been just the opposite," Loftus said. "Some people are looking to buy primarily out of patriotism and to show their support. They are saying it's something they can do." The Dow fell in 50- and 100-point bursts as its 30 components opened for trading. When American Express, the last stock to open, began trading, the Dow's loss surpassed 600 points and the index fell below 9,000, dropping to 8,976. The blue chips last closed under 9,000 on Dec. 3, 1988, when they fell to 8,879.68. The market fluctuated as expected throughout the day, with the Dow recovering to a loss of about 460 points before turning lower again in early afternoon, when the blue chips were down 721 points. The Nasdaq was down 100 points and the broader Standard & Poor's 500 index was down 51. While the point declines in the Dow and Nasdaq were very large, their percentage losses were more moderate, with the Dow off nearly 7 percent and the Nasdaq down nearly 6 percent. Before trading began, the New York Stock Exchange observed two minutes of silence followed by the singing of "God Bless America." The opening bell was rung by members of the Police and Fire departments along with representatives of other agencies involved in the rescue and recovery efforts at the World Trade Center disaster site. "Let us celebrate these wonderful men and women," Grasso said, calling them "our heroes." He was surrounded by federal, state and local officials on a balcony overlooking the exchange floor. Outside, a huge American flag was draped across the NYSE's famed columns. The four-day market closing was the longest for the NYSE since March 1933 when the government shuttered the exchange for more than a week for a banking holiday during the Depression. Despite concerns about traders making it to work, it appeared there were the usual 3,0000 traders and other employees on the NYSE floor. But the physical effects of last week's attacks were apparent to all--the trading floor smelled heavily of smoke. Meanwhile, the American Stock Exchange, forced of its home due to damage, was operating out of a handful of posts clustered in one area of the NYSE. Jay Mahoney of Wagner Stott Bear Specialists said he had more workers than he needed to operate on Monday. Asked if people were nervous about returning to the financial district, he said: "I thought that might be a concern. Over the weekend it seemed like a lot of people talked about being nervous. But everyone's here today." Nick Matera of Staten Island arrived at the NYSE in the blue jacket of a trading floor worker. He called the opening "symbolic more than anything else" and noted the changed environment, saying: "It's an odd feeling with the smoke and all." Businesses spent the weekend cleaning up the debris littering the financial district. Utility workers laid and rewired thousands of cables to restore telecommunications and power, while the city prepared the subway system for its first real use in nearly a week. But challenges remain. Although the larger investment houses have relocated their operations in backup locations outside the financial district, others struggled to get their offices up and running. "They're opening the exchange so that every individual investor can participate, but we can't because we don't have connectivity," said Ray Velez, a manager at a day-trading firm near the NYSE that lacks access to the Internet and other data services needed to compete in the markets. A variety of steps were being taken to smooth the resumption of trading. The Securities and Exchange Commission has announced a series of rules that, among other things, make it easier for firms to buy back their own stock. Grasso said there would be no restraints on trading, with limit orders being processed as well as short sales, those in which traders make money by betting the market goes down. He also said the NYSE should be able to handle any volume of trading, noting that the exchange has the capacity for five times the current average daily volume of about 1.2 billion shares. Some workers returning to the Wall Street area for the first time expressed their fears. "You sit next to the window and keep thinking, am I going to turn around and see a plane coming," said Jeannette Rosario, who works in information technology for an exchange clearing house. ____________________________________________ Tech economy might get some jolts, but some got a bump in the road today By Brian Bergstein, Associated PressSAN JOSE, Calif. (AP) The slumping high-tech world has a lot to offer in the aftermath of last week's terrorist attacks. Companies that specialize in technology consulting, teleconferencing, network infrastructure and security all could see a bump in business. But it appears that whatever jolt technology companies get in coming months likely won't amount to enough to revive their sector of the economy and end the swoon that began in 2000. ''I don't think this is big enough to turn the ship, so to speak,'' said Donna Scott, a research director at Gartner Dataquest. The technology-heavy Nasdaq Stock Market was down more than 7 percent Monday afternoon as trading resumed on Wall Street for the first time since the attacks. Economists have predicted the overall economy could slide into a recession because of the expected drops in air travel and other consumer spending. That certainly wouldn't help most technology companies, which have laid off hundreds of thousands of workers this year to deal with slumping sales in their saturated markets. A Taiwanese research firm, Market Intelligence Center, said the situation will just ''worsen the severity of America's declining (personal-computer) market.'' But although the issue in many ways seems beside the point, considering how the nation is grieving, certain segments of the technology economy could get a boost. For example: tech companies that provide any form of security online and in the physical world. Forrester Research analyst Carl Howe predicted that companies such as IBM Corp., Bedford, Mass.-based RSA Security and Silicon Valley's Counterpane Internet Security Inc. ''will have more business than they can handle.'' RSA Security shares jumped 12 percent on the Nasdaq by mid-afternoon. Shares of Visionics Corp., a maker of security equipment that uses biometrics the identification of people through physical characteristics were up 87 percent. Several analysts have recommended that companies use video conferencing and Webcasting more often as an alternative to traveling. Expecting such a trend, investors eagerly bought shares in WebEx Communications Inc., a San Jose-based seller of Internet communications platforms. Its stock was up 33 percent by mid-afternoon. Shares of Polycom Inc., a Milpitas-based maker of teleconferencing products, were up 30 percent. Shares of video conferencing supplier PictureTel Corp. of Cambridge, Mass., were up 14 percent. Both companies have made their equipment available for free to organizations affected by the terrorist attacks. An estimated 26.5 million square feet of occupied office space in lower Manhattan was destroyed or damaged in the attacks and the resulting fires and collapses, according to the Grubb & Ellis real estate company. So the last week has shown the value of technology companies that recover lost data and rebuild networks for displaced businesses, and give them temporary offices outfitted with computers, phones and network equipment. One such services company, Rosemont, Ill.-based Comdisco Inc., said it has restored networks or relocated offices for more than 30 New York companies since the attacks. One client, the New York Board of Trade, has re-created its trading floor in a Comdisco facility in Queens. Gartner Dataquest's Scott predicted that Comdisco and competitors such as IBM and Wayne, Pa.-based SunGard Data Systems Inc., will see sales rise, as more companies see a need for their services. If that happens, it couldn't come at a better time for Comdisco, which has filed for bankruptcy and is being acquired by Hewlett-Packard Co. But Comdisco spokeswoman Mary Moster said her firm actually wasn't expecting much of a short-term boost, because most Fortune 500 companies already have disaster recovery in their long-term plans. Still, Comdisco shares were up 8 percent Monday afternoon. SunGard stock was up 9 percent. Analysts said even companies that were well prepared likely will need consulting and service help a highly profitable line of business from hardware and software companies. The devastation also might accelerate the long-term trend toward using the Internet to decentralize information. Business software maker PeopleSoft Inc. has said it expects more demand in coming months. But those specific bumps don't reflect other potential problems. Companies that rely heavily on fast shipping of parts to keep inventories low and their manufacturing process lean and efficient could be hurt by slowdowns in air traffic. Both the leading PC maker, Dell Computer Corp., and the world's top manufacturer of computer chips, Intel Corp., transferred some air shipments to the ground last week. Dell spokesman Mike Maher would not say if his Round Rock, Texas-based company which bypasses stores and sells directly to customers would suffer if it has to keep that up for an extended period of time. Intel, which performs most of its manufacturing overseas, has been able to maintain its normal shipping patterns, spokesman Chuck Mulloy said. Its Silicon Valley rival, Advanced Micro Devices Inc., had been shipping parts between factories on commercial jets. If cargo is restricted on commercial airlines, AMD would have to use air freight, which spokesman John Greenagle said is slower and could get more expensive. AMD already has seen its margins fall in its fierce price war with Intel. Still, AMD expected to be able to meet its customers' needs. ''The product doesn't spoil,'' Greenagle said. ''We're lucky in that sense.'' ______________________________________________________________ Fed cuts interest by half-point in effort to boost economy By Martin Crutsinger ASSOCIATED PRESS WASHINGTON – The Federal Reserve cut a key interest rate by one-half point Monday, trying to keep the U.S. economy from falling into a recession following the worst terrorist attack in America's history. The Fed's eighth rate cut of the year was followed by half-point rate reductions by the European Central Bank and the Bank of Canada as central banks around the world joined in an effort to shore up the global economy. In a statement, the European Central bank said it was cutting rates to 3.75 percent and coordinating its move with the Fed in an attempt to deal with adverse effects from the terrorist attacks in the United States. The Fed action came after an emergency conference call among Fed policy-makers at 7:30 a.m. EDT, two hours before Wall Street would open for the first time since Tuesday's terrorist attack. The rate cut did not avert a steep sell-off as the Dow Jones industrial average plummeted 620 points in the first hour of trading before bargain hunters came in to push stocks slightly higher. The Dow was off 461 points at midday. Analysts predicted the Fed could keep cutting rates until the markets regain confidence. "This rate cut is just a down payment with additional cuts on the way," said Sung Won Sohn, chief economist at Wells Fargo in Minneapolis. "Part of the problem is that global investors, who are huge players in our bond and stock markets, are nervous," said Mark Zandi, chief economist at Economy.com. "If central banks across the globe are cooperating and coordinating their actions, that will help smooth out some of the panic selling." In a related action, the Fed Board of Governors approved a half-point reduction in the discount rate, which the Fed charges on loans to banks, to 2.5 percent. The Fed last week invited banks to make full use of the discount window if they were facing unusual withdrawal problems because of disruptions following the bombing of the World Trade Center in the heart of New York's financial district. A Fed spokeswoman said the Federal Open Market Committee, the policy-making group that sets interest rates, began its 25-minute conference call with a moment of silence for victims of the attack. The Fed rate cut was the biggest effort so far by U.S. authorities to instill confidence in a badly shaken financial system. In a statement explaining its action, the Fed said it would "continue to supply unusually large volumes of liquidity to the financial markets as needed until more normal market functioning is restored." The action by the Fed was followed immediately by announcements from major banks that they will lower their prime rate, the benchmark for millions of business and consumer loans, by a similar half-point, to 6 percent. Analysts applauded the half-point rate cut, saying it was the right move to try to bolster the economy and financial markets. "This is an encouraging sign that the Fed is there to protect the economy and the banking system," said Richard Yamarone of Argus Research Corp. On Sunday, President Bush urged people to get back to work and acknowledged some concern about how the terrorist attack has affected the struggling economy. "I have great faith in the resiliency of the economy. No question about it, this incident affected our economy, but the markets open tomorrow, people go back to work. And we'll show the world," he said. The Fed signaled that if further rate cuts are needed it will provide them, saying the balance of future risks remains tilted toward economic weakness. "Even before the tragic events of last week, employment, production and business spending remained weak, and last week's events have the potential to damp spending further," the Fed said in its statement. Economists have been worried that last week's four airliner hijackings and attacks on the World Trade Center and Pentagon could jolt Americans' confidence so much that consumers, whose spending has been keeping the economy afloat, could close their pocketbooks. That could throw the economy into recession. To avert a full-blown downturn, the Federal Reserve has slashed interest rates seven times this year beginning with five half-point cuts in the funds rate followed by two quarter-point moves on June 27 and Aug. 21. _____________________________________________________________ Eastern Association of Equipment Leasing Postpones Conference to Nov. 19 In the interest of our members and Expo 2001 attendees who would have to travel, we have decided to postpone our 18th Annual EAEL Expo and Trade Show, originally scheduled to take place on September 24th at the Sheraton Meadowlands Hotel, to November 19, 2001. The Hotel has graciously agreed to work with us on this change. They are moving all of the current room reservations to the appropriate days in November that correspond with our meeting. If you need to make any changes please be sure to call the hotel. The phone number (800) 325-3535. Please call the EAEL office directly if you have any questions or would like information about Expo 2001. The phone number is (914) 381-5830 or you can E-mail us at amfnyc@eael.org. We apologize in advance for any inconvenience this may cause you, but we feel sure that you will understand. We look forward to seeing you on November 19th. ________________________________________________________________ American Bank Equipment Lease Finance Unit Closing Today Good morning. With all that happened in our country last week, I am almost hesitant to send this message to you, that the former European American Bank Equipment Lease Finance unit is closing as of today, as it seems so miniscule compared to what others have suffered and are still suffering as they wait in hope for missing loved ones. Please keep me on you e-mail list for your daily newsletter. I have a new e-mail address, which is FrdA4@aol.com. My telephone number is 516-822-2008. I have enjoyed reading your news letters including the varying opinions that are expressed. Keep up the good work. There is one comment that I would like to make regarding last week's tragedy, however. Our President, our Governor, the Mayor of New York and countless others have all expressed their sadness and offered their prayers to all affected. We even had a national day of prayer. Yet, we can not legally have "a moment of silence " in our public schools each day????. Thanks. Fred Frederick Anderson _______________________________________________________________ Old Kent Closed ( confirmation of report from last week ) Fifth Third acquired ld Kent Bank ( 11/2000---2/2001 closes business to brokers ) http://www.leasingnews.org/list) and decided to close the Old Kent Leasing organization. The portfolio was sold and the company is now closed. Personally, it is unfortunate. There were many good people at Old Kent and we were just starting to add some sophistication to the operation. __________________________________________________________________ #### ######################## ################# ########### First South Bank Announces Creation of New Leasing Company
WASHINGTON, N.C., / -- First South Bank, wholly owned subsidiary of First South Bancorp, Inc. (Nasdaq: FSBK) is pleased to announce the creation of a new leasing division called First South Leasing, LLC. First South Leasing will offer general equipment leases to the commercial markets of eastern North Carolina and the Piedmont, parts of South Carolina and Virginia, as well as to the existing commercial accounts and business clients of the Bank. First South Leasing will be owned and operated by First South Bank, have an initial staff of three full time employees and will be headquartered in Washington, NC. First South Leasing will be located at 239 West Main Street, Washington, NC, and the company's toll-free number is 1-800-845-6576. "The most important aspect of the new company is that it represents a significant addition to our product offerings," First South Bank President Tom Vann said. "This company will further augment the Bank's products and services, in that it will help allow First South Bank to become the complete financial source for its customers." First South Leasing will engage in business activities stretching from Tidewater, Virginia to South Carolina and as far west as the Piedmont region, Vann said. "There is currently a demand and need for a local community bank to offer leasing services to the citizens of eastern North Carolina and surrounding areas," Vann said. "We believe First South Leasing will help satisfy some of that demand." Donnie Bunn will be the President and Chief Executive Officer of the new company. Bunn is the former Senior Vice President of Coastal Leasing and has more than 15 years of experience in the leasing business. "Leasing is advantageous to businesses because it frees working capital for other uses, offers fixed payments and one hundred percent financing, among other things," Bunn said. "We look forward to providing leasing products to First South Bank's current and future customers, as well as the general commercial public." First South Bank is a state-chartered commercial bank that has been serving the citizens of eastern North Carolina since 1902 and offers a variety of financial products and services. The Bank operates through its main office located in Washington, NC with 19 full service branch offices located in eastern and southeastern North Carolina. At June 30, 2001, First South Bank had assets of $535 million. CONTACT: Tom Vann or Jack Ashley of First South Bancorp, Inc., +1-252-946-4178 ###### ############################## ########### Nostradamus Internet Prediction a Hoax A prediction -- actually a hoax -- that was supposedly by 16th-century doomsday prophet Nostradamus was sent around that described a city where there will be "a great thunder," and "two brothers torn apart by chaos." The hoax originated in an essay written in the 1990s by a Canadian university student, according to the Web search engine Lycos. The student wanted to show how easily an important-sounding prophecy could be created through the use of abstract imagery, Lycos said. _________________________________________________________ The Canadian Support, as we stated when we sent around, twice, was not written this year. I enjoyed receiving your message with the Canadian tribute to the USA. You should know that this was written 25-30 years ago by Gordon Sinclair, a crusty old guy along the lines of Andy Rooney. Gordon was a dear friend of my Grandparents and a frequent visitor to their hunting and fishing lodge "Lingerlong Lodge" in Northern Ontario. The lodge was a frequent destination for many Americans, especially from Ohio and Michigan, and I am not surprised that Gordon would have written this.\ I heard an interesting analogy recently, perhaps from you. Your birth country is like your Mother - you never stop loving her, but sometimes you move away from her to make your own life. Your country of choice is like your wife - it's a different type of love than you have for your mother. I'm proud that I am a Canadian, but I make a real choice to live in the USA, because of what it represents to the rest of humanity - FREEDOM. This is the best country in the world, bar none. God Bless America! betfrnds <betfrnds@mindspring.com>
**Gordon Sinclair broadcast this as an editorial on CFRB-TV, Toronto, Canada on June 5, 1973. Gordon Sinclair was 73 years old when this was released as a 45-rpm record in January 1974 on the Avco record label. It made it up to #24 on Billboard’s Top 100 charts. He passed away May 17, 1984. Currently, it’s available on the CD called "MUSIC POWER" put out by K-tel #3626. At the same time, Byron MacGregor, News Director at CKLW radio in Detroit, MI, recorded a version, which made it up to #4 on Billboard’s Top 100 charts on the Westbound record label.  Soni J.G. Capital Corp. Pawnosh@aol.com ________________________________________________________________ ### ##################### ################################ SEAMLESS WEB INTERFACE FOR YOUR VENDORS Calculator, Quote Letter, Application & Data Import SEATTLE, WA– ELBTools (http://www.elbtools.com) announces the availability of alaQuote, an online quoting and lease application submittal program. This program is designed specifically for Equipment Leasing Brokers to configure a customizable Lease Calculator, Quote Letter and Lease Application to reside on their Vendor’s Website. A submitted application gets delivered to the Broker via email, containing an attached file of the application data. The alaQuote Import program, furnished by ELBTools, allows the attached file to be imported directly into the Broker’s Lease Origination System. Currently the import program is available for the System 1Ô (ver.2.5) and CapitalStream AdvantageÔ programs. Trevor Denham, President of ELBTools stated: “Our intent was to develop an extremely flexible, although easy to use marketing tool for Equipment Leasing Brokers to use to enhance their relationship with their vendors and prospective vendors. We have priced the subscription cost of alaQuote to be extremely competitive, which allows independent business owners to compete against the larger (more costly) technology leveraged players.” “AlaQuote is really a web-based add-on to the Broker’s current Lease Origination System. We are not out to replace the current system or process that they now perform to facilitate a transaction. We just want to enable an electronic conduit for more precise data to be received by a standard method (via email) and furnish a greater value to the Broker that they can promote and offer their application sources.” “Furnishing an automated and professional quote calculator and custom quote letter for use on a vendor’s own web site, starts a value added relationship for the Broker. In addition, to complete a seamless integration from the quote to the application submittal process, furthers that value by delivering a more legible application and automated entry point, allowing the Broker to start the process of credit verification more quickly.“ Product
Distribution
ELBTools has partnered with Preferred Broker Solutions (http://www.pbs4u.com) to license and distribute the alaQuote program. Preferred Broker Solutions is also a reseller of the CapitalStream Advantage program and support organization for the System 1 desktop products. About
ELBTools
ELBTools, a subsidiary of BlueDenham, LLC, was formed to offer the Equipment Leasing Broker Community software products that are secure, reliable and affordable. BlueDenham, LLC has been in the computer business for 6 years designing custom websites and software programs for various businesses, including the Equipment Leasing Industry, Retail Video Stores, Commercial Construction, Non-Profit Organizations and the Independent Business Community. For more information on BlueDenham, LLC visit http://www.bluedenham.com. Sales
Info: Preferred Broker Solutions 19621 82nd Pl W Edmonds, WA 98026 (866) 352-8665 (435) 514-3787 fax Note
to Editors: If you
are interested in
viewing additional
information on ELBTools
or alaQuote, please
visit the ELBTools
website, http://www.elbtools.com. #### ###################### ############## ############### ------------------------------------------------------------------------------------- Blocking of Leasing News As we stated many times, often our e-mail is not “blocked” specifically or “on purpose”, but by new mail server programs. Here is the reason why many readers do not receive Leasing News at American Express, as this was returned to us, but we note, it states to the recipient the mail has been returned: In accordance with American Express E-mail policy, your message has not been delivered because it appeared to have the characteristics of a chain letter or virus hoax. We prevent these types of messages from being delivered because they take up valuable system resources. The intended recipient has been notified that your message has not been delivered. A list of known hoaxes and chain letters can be found on the Web at: Datafellows Anti-virus: http://www.datafellows.com/news/hoax/ Computer Incident Advisory Capability of the U.S. Dept. of Energy http://ciac.llnl.gov/ciac/CIACHoaxes.html http://ciac.llnl.gov/ciac/CIACChainLetters.html ---------------------------------------------------------------------------------------- Con Artists Ask for Donations Well I guess the cockroaches are coming out of the woodwork, now! I read a small notice in the Denver Post, to watch for CON ARTISTS taking advantage of Tuesday's tragic terrorist attacks. Friday, I got a call from a handicapped person using a patriotic pitch (the phone number was blocked on the caller id) wanting to sell me $140.00 long life toner cartridges for my Panasonic Laser Printer (it uses bulk toner which costs $15.00!). When I asked for a phone number to call them back with the "toner cartridge model number", the phone went dead! This morning I got another call from "The Copier Company" (phone number also blocked on my caller id), about supplies I ordered for my copier! When I asked for a phone number to call back, the phone again went dead! I wonder how many of the readers of your news letter have started having the same experiences, since Tuesday's terrorist attacks? Sincerely, Joseph Leslie President FCI Financial Services, Inc. FciFin@aol.com _______________________________________________________________
##### ####################### ################## Hungry Minds publishes "Business Leasing For Dummies" From fax machines and photocopiers to corporate aircraft and other transportation equipment, about 80 percent of all businesses lease some or all of their equipment, and for good reasons. Leasing is often the least expensive financing available, allows companies to preserve their capital, and enables them to use leased property only for the time that it is needed. Author David Mayer has captured this subject in a unique, clear and understandable way in "Business Leasing for Dummies" (Hungry Minds, 2001). This no-nonsense guide explains how leasing works, clarifies the meaning of its terminology, gives negotiating tips, and helps you gain the most value from this powerful financing tool for your business. The Foreword of “Business Leasing For Dummies” is written by Joseph C. Lane, President of IBM Credit Corporation who says that this book “takes complex concepts and makes them understandable.” David G. Mayer is a partner at the Dallas, Texas office of Patton Boggs LLP, where he structures, negotiates, documents and closes business transactions, including leases of aircraft, facilities, and other types of property. He received his law degree from Case Western Reserve Law School. His other writings have been published in such journals as the Fordham Law Review and the Harvard Journal on Legislation. He frequently speaks on financing and other business topics. Books are expected to arrive in bookstores as early as the first week of October. Mayer commented: "We are very excited about this book and its potential to help lessors and lessees alike better understand and expand their use of leasing in their businesses like never before. Business Leasing For Dummies is a great training reference tool regardless of your interests in leasing." For more information, go to Dummies.com or contact the author at dmayer@pattonboggs.com. For immediate release.
( courtesy of www.lessors.com ### ############################## ################ __________________________________________________________________ Our Man In Yew York City Changes e-Mail Address Please send all emails to dushey@mindspring.com because our other email is out right now. This should include leasing news and any other correspondence. Maybe you can put this information in the leasing news because many people have been trying to contact me. Thank You Philip Dushey Global Financial Services 150 East 58th Street 39th Floor New York, NY, 10155 212.935.4370 Phone 212.935.4378 FAX www.globaleasing.com global@globaleasing.com : email _______________________________________________________________ NAELB Regional Conference October 19-20, 2001 Marina del Rey Hotel & Marina, Marina del Rey, California - Schedule of Events - Friday, October 19, 2001 3:00 - 6:00 PM Exhibitor Setup 7:00 - 9:00 PM Networking Reception in Exhibit Room (Exhibits Open) Saturday, October 20, 2001 7:30 - 9:30 AM Cont. Breakfast Exhibit Room (Exhibits Open) 9:15 - 10:45 AM Working with Local Banks! Is this for you? Pros and Cons with Hows and Whys. Speaker: John Winchester, Comco Equipment Leasing Group 11:00 - 12:45 PM Working Lunch: Ethics and Legal Tidbits. A panel of brokers and funders discuss their thoughts on ethical and legal issues facing the leasing industry. Moderator: Joseph Bonanno, Esq., NAELB Legal Counsel 1:00 - 2:30 PM Meet with the Funding Sources. (Exhibits Open) 2:30 - 4:00 PM IRS Section 179 can make you & your vendors money - This Year! The ITC is gone. What is ITC you ask? In the old days of leasing, December was one of our busiest months of the year because of the Investment Tax Credit. We can still promote year-end business using IRS Code Section 179. Your vendors will recognize a new selling strategy, and perceive you as a valuable advocate. Your existing database of lessees (what better a list of qualified leads can you get?) will have more incentive to obtain additional equipment. You will make more money. What a country! Speaker: Bob Bell, Independent Leasing Associates - REGISTRATION FORM - Pre-Registration Deadline: October 5, 2001 * On-Site Registration Available after October 5, 2001 (Add $20 per registrant for on-site registration) HOTEL INFORMATION: Address: Marina del Rey Hotel & Marina, 13534 Bali Way, Marina del Rey, California 90292 Room Rates: $119 single / double occupancy Reservations: Call the hotel directly at 310-301-1000 CONFERENCE RATES: NAELB Members: Broker - 1st Attendee $95.00 x _______ = $ ___________ Broker - 2nd Attendee $75.00 x _______ = $ ___________ Funder - 1st Attendee $135.00 x _______ = $ ___________ Funder - 2nd Attendee $115.00 x _______ = $ ___________ Exhibit Table $115.00 x _______ = $ ___________ Non-Members: Broker - 1st Attendee $150.00 x _______ = $ ___________ Broker - 2nd Attendee $130.00 x _______ = $ ___________
-------------------------------------------------------------------------------------- _____________________________________________________________ Reader Reaction ----Terrorist Attack Another point worth mentioning (and I'm surprised GE hasn't pointed this out to you already), yesterday GE pledged to donate $10,000,000 to assist in the clean-up/rebuild effort in NY. Very generous indeed, more corporations should lend their assistance. We are a wealthy country, from what I understand, part of the reason for the attacks. Let's show those bastards that part of the very core of our strenght as a country is the Capitalism they so despise. Best Regards - John Kenny Receivables Management PO Box 471 N. Grafton, MA 01536 508.839.1992 fax 309.273.9049 The Solution to Your Credit & Accounts Receivables Needs ~~ Like many travelers, I was stranded at Chicago O'Hare until Friday when I was able to rent a car for my return home to Maryland. This morning I drove past the Pentagon as is usual in my daily commute. Witnessing the damage was so much more overpowering than viewing it on television. Although my windows were rolled up, the strong smell of smoke began to fill the inside of my car as I crossed the 14th Street Bridge headed toward the Pentagon. Needless to say traffic slows nearing my exit behind the Pentagon not only to accommodate the overwhelming security but also as drivers recoil at the sight before them. Upon reaching the familiar view of the Pentagon heliport you are taken aback by the enormity of the damage. A small army rescue workers and volunteers are evident everywhere. You automatically say a prayer for those lost in the tragedy and realize how much more extensive the disaster is in New York City. Like everyone else, I'll never forget where I was the morning of Tuesday, September 11. I now add remembrance of that scene at the Pentagon. My commute could be altered to avoid the Pentagon but I feel compelled to continue this route as a daily reminder of what evil has done to us. And as we prepare to strike back I've also wondered if the Sergeant's strips I surrendered upon discharge from the U.S. Army might still be available. Dennis Brown ~~~ My wife is a Regional Director for Sun Microsystems. They had a meeting scheduled for 9:00 on Tues. morning at the WTC. She arrived 20 minutes early and stopped in one of the drug stores across the street. When she came out she saw the first plane hit and ran back into the store. She came out 15 minutes later and saw the second plane hit and saw bodies falling from the building. She got a cab went to Grand Central and caught one of the last trains to CT. All of the 260 + Sun employees in the building are accounted for. One executive from Boston was on one of the planes that crashed into the WTC. I was in CA on personal business and was quite concerned about the events. I flew in to JFK yesterday (fortunately we got on a JetBlue flight out of Ontario airport) and we flew down the West side of Manhattan as we approached the airport. Its one thing to see it on TV its another to fly over and see a landmark gone. My son is a firefighter and is on his way down there to help. God Bless America, Ray RAYLEONE@aol.com _________________________________________________________________ Sunday Sermon “...and protect her.” Reaction Interesting, isn't it, that Itzak Balin (better know as Irving Berlin) wrote not only God Bless America, but also White Christmas and Easter Parade. He wrote the music that defined America for all Americans, not just eastern European Jewish immigrants. I remember someone telling me as a teenager that I would go to hell if I didn't accept Jesus. My parents always described religion as a bicycle wheel with many spokes (each a different religion) but all pointed to God in the center. Mr. Baker may not have meant to be offensive, but for people who believe differently than he, it was offensive. Having different beliefs is part of what makes America the great nation that it is. Mr. Baker may honestly believe that those of us who are non-Christians will rot in hell. He is entitled to hold that opinion. But expressing that opinion is not in keeping with the respect for others that is an integral part of the United States. Barbara B. Low Biblio.Tech bibliotech@leasingsourcebook.com ~~~~ Bless you for your efforts and happy new year. Hope you and yours stay safe. Rick Rick Wilbur <rick@mediacap.com ~~ Let us not forget that leasing is what-we-do, not, who-we-are. At times like this we need to transcend what-we-do and focus on who-we-are both collectively and individually. Such focus helps us strengthen our core, reaffirm our values and, hopefully, ready us for our challenges yet to come. I personally believe that the sharing of experiences and commentary as you have done over the past week in this newsletter helps us and the industry in this need. I applaud your resolve to do so. Nick Flint ~~~ ~~ Well done Kit. I retract my earlier statement about not having religion in leasingnews. This was a grand observation of the HUMAN heart, mind, and spirit in your Friday message. And Sunday Sermon was what both Bob Teichman and I suggested. Thank you. Spiritually yours, Ginny Ginny Young ~~~ First, thank you for the effort to keep us all informed. One wonders what, or if, those who cancelled are thinking. Next, son Matt is well. For reasons of security it would not be advisable to discuss details. I can only tell you that his squadron scrambled and spent three days on NYC security patrol. They have rotated out and are getting ready for whatever comes next. Sounds like Dash is also ok. Keep up the good work. ( My son Dash is in Diving School in Panama City, FL, as you know. He may complete this course or they may send him on a ship as an electrician, as he is very good in this field. He is told all schools are being accelerated or there may be other changes, and he suspects he will be put out to sea, as they continue in high alert. It reminds me when I was in duty, it was “ Hurry Up and wait.” At least your son is seeing some action ( Ken’s son is a “Top Gun” pilot with a very high rank. , editor ) ------------------------------------------------------------------------------------ #### ################################# ################ Burlington Industries Adopts Enterprise Equipment Financing Solution from LENDX Softgoods and Apparel Manufacturer to Realize Substantial Savings in the Management of Equipment Financing Portfolio San Francisco, CA– LENDX, the leading provider of management applications and commerce services for equipment financing, today announced that Burlington Industries selected the LENDX Lifecycle Suite to manage its equipment financing program enterprise-wide. Burlington Industries required a cost effective system that would streamline its equipment finance process, track historical and outstanding lease obligations, and reduce the cost of its equipment finance business process. The LENDX Lifecycle Suite is advanced web based technology specifically developed to manage and monitor equipment finance portfolios for large organizations. LENDX’s applications enable organizations to capture data and analyze all stages of equipment finance transactions, including lease vs. buy analysis, transaction execution, funding workflow, midterm obligations management, and end-of-lease term decisions. “Burlington was looking for an efficient solution to manage a portfolio of over 350 separate lease obligations,” said Lou Vigliotti, CEO, LENDX. “The fact that Burlington was able to receive dynamic search capabilities and consolidated reporting was an important factor in their selection process.” “We have developed a close working relationship with LENDX and relied upon their services to assist us in structuring lease transactions, conducting company-wide training sessions, and helping us load our entire lease portfolio into Portfolio Manager. We expect to realize substantial savings both in cost and efficiencies from implementing the LENDX Lifecycle Suite,” said Brandon Carrey, Assistant Treasurer, Burlington Industries. About Burlington Industries Burlington Industries, Inc. is one of the world's largest and most diversified manufacturers of soft goods for apparel and interior furnishings. About LENDX LENDX is the leading provider of management applications and commerce services for equipment finance and other financing instruments. Its integrated suite of web-based applications and services improves efficiency, increases control and reduces costs by providing large companies with solutions that address the entire financing lifecycle. Delivered as a hosted service, LENDX applications and related services provide secure and intuitive solutions for managing financing obligations that can be fully deployed in days. Web Site Address ( courtesy www.lessors.com ) ########### ################### ############### BSB Leasing, Inc. announces the appointment of Hank Kumpf as Regional Sales manager for the Southeast U.S.
(Denver, Colorado). BSB Leasing, Inc. a division of Procure Financial Services, Inc. is pleased to announce the appointment of industry veteran Hank Kumpf as Regional Sales Manager for the Southeast United States. Mr. Kumpf has over 25 years of leasing and banking experience, most recently as President of Mercantile Bank Leasing in Tampa, Florida. Mr. Kumpf will be responsible for all vendor sales activities in the Southeast U.S. for BSB Leasing, Inc. and will be located in Tampa. He can be reached at 800- 945-3372 ext. 302. BSB Leasing, Inc. , a division of Procure Financial Services, Inc. is headquartered in Denver, Colorado and specializes in the origination, front-end servicing and syndication of a wide range of small ticket lease products. #################### ############################# ----------------------------------------------------------------------------- Final Call—Last One In Thank you so much for "standing in the gap" these past few days and for taking much heat from several rather agitated and, perhaps, short-sighted, persons. Your timely and sensitive responses, and your Sunday Sermon for today, have, for me, and I suspect, many others, added to the foundation of love and encouragement upon which we are attempting to rebuild our personal depth and strength as well as rebuilding our national integrity as a country of strong but caring, loving people. Perhaps Tim Baker's comments may have been misplaced for this type of forum at a time of huge emotional upheaval, that certainly is debatable, but I for one think I understand his motivation...I believe it was expressed out of love, not intended for hate. For some to suggest that any of us who recognize, embrace and accept Jesus (Yeshua) as Messiah, and who are willing to obey His commands to His believers to share that message with the rest of the world, that we are expressing or intending hate is rather irrational. If those same individuals believe in their basis of faith enough to express their belief that Jesus is not Messiah, are their statements hateful to me or other born-again believers???...I think not. People who hold certain principles and doctrines deep in their soul are usually willing ( or certainly should be) to take a stand for what they believe. Were the founding fathers of this great nation full of hate, or full of hope?? What if they had been unwilling to speak out, loudly and defiantly, for that in which they believed?? The founding of this nation was irrefutably based on and totally entrenched in Christian doctrines and the Holy Scriptures, Old and New Testaments. The epistle of James in the New Testament (accepted by Christians as the final covenant of Jehovah God) tells us "For a man to know what is right to do yet he does not do it, to him it is sin." We have to speak up...it's in our blood. I believe that our God and Creator will bring many, many good things to pass from this criminal massacre brought upon us last week. "What man intended for evil, God will use for good" I believe that with all my heart and spirit. Many others will disagree with me, and that's OK...each of us will seek our own answers from these events and we will draw many different conclusions. Some will be filled with hope...some will be full of gloom. As for me, I choose life...looking up to Him, not down at the ground in despair. Christians believe they stand in the truth. Jews believe they stand in the truth. Moslems believe they stand in the truth. Each of us consider the other doctrines of faith and concept of God as misguided, and many of us within each group pray that the people of other faiths will see the "true" Light someday. Sharing our beliefs by expressing them openly, with dignity and respect for others' beliefs at the same time, is honorable and, if we truly do care about the other person, is the loving thing to do. Why would I not share something which I believe deeply would be good for them, if they choose to receive it? Wouldn't that be rather selfish, to keep it for only myself?? "Do nothing from selfish ambition or empty conceit, but, with humility of mind, let each of us consider one another as more important than himself. Do not look out for just your own personal interests, but also for the interests of others." Epistle of Paul the apostle to the Church at Philippi; Philippians 2:3-4 May God bless you and your family and may God continue to bless America. Keep faith, Larry B. Turner Vision Capital Corporation San Diego 858-487-6530 __________________________________________________________________ FINAL CALL---LAST WORDS Controversy Over Tim Baker e-Mail ( as stated in Sunday Sermon---After today, this topic and subject will be considered “Old News” here. Those that are not interested in this topic, stop here as there is no more “news” in this issue: Chronological Order to the Best of Our Ability: I believe that everybody has a right to their own beliefs and shouldn't be judged in any way, by anyone. How dare someone say that because I don't except Christ I am damned! This is a time for all of us to pull together and find comfort in healing words. Helene G. Kugit helenekugit@exsolutions.com ~~~ After viewing the comments of the various readers of Leasing News today it just proves to me what a great country that we live in. In other countries, especially where these coward terrorists reside, they have no such freedom to express themselves except for the hate that they are taught by their leaders, anyone else that expresses contrary feelings are eliminated. The really great thing I see is that even though all Americans are of different races and religions we would all fight and die along side each other to protect our country and our freedom. It is time to be a patriot and stand together as a United People. God Bless our country and all others who believe in democracy. Bruce Zwillinger Executive Vice President BSB Leasing bzwillinger@bsbleasing.com ~~~ My first reaction, was, well "oy vey..." My second reaction was "this is EXACTLY what we need." Why? Two people... different religions... one guy speaking what is important to him and a few other people getting upset... Welcome To America! We have Free Speech and its going to stay that way! Which is part of the reason bin Laden and his buddies hate us... Keep up the Good Work Mr. Menkin. Drew Taggart United Leasing Associates ( It is nice to get a kind word for trying to bring us all together. Now is a time for all of us to come together and not fight amongst each other. editor ) ~~~~ Let's keep our focus on the real issue here. It is not who believes what, how or when (or not at all).It is not even important whether or not you believe (except to you personally). It is the American way that people are allowed to go about their daily lives with "freedom and justice for all." The real issue now before us in this nation is that very, very soon our best and brightest young men and women will be put in harms way. Hundreds of thousands, perhaps millions.(you don't call up 50,000 reserves on day one (disrupting their lives, their families lives, the businesses they work at etc.) for a cake walk. Think about it. They will go to war and risk their lives for us. I have a 19 year old son (I am a U.S Army veteran of the Viet Nam era and would go in his place in a minute but that will not be) and I am concerned for his future and the future of all who currently serve and will serve. This is not going to be pretty. This country and its people will experience things they have never experienced before. Even in WWII ,the U.S mainland was not attacked. Our homeland has been (and may be again)attacked. Don't think for a minute that the ones who carried out this atrocity in Washington and New York will not attempt (and probably have planned and prepared) other attacks. The first rule of war is "don't underestimate the enemy". They are dedicated, clever and capable. We were caught napping just like at Pearl Harbor. Gear up, be alert. This is not business as usual. We are justified in our retribution but if you think we will just be able to throw a couple of air strikes at somebody somewhere, you are wrong. We will be using ground troops (God help them) many miles from home and it will not be easy to supply them. It will be a horrible, horrible experience. Their lives will be changed forever. If we attack other countries, they will defend their homelands-right or wrong. They will fight the "Great Satan" as they have been programmed to for generations. I am not trying to be an alarmist-,just a realist. Countries who say they support us today will not when the going gets tough. Potentially, they could work against us. Think of the area of the world we are planning on striking. As many of you read the Bible--- does the story of Armageddon come to mind? It may not be that time but...We need to support each other now-let individuals believe what they want-it is immaterial now (again except to them personally). art ohagan ``` I have never added my 2 cents worth before but I am now. To Tim Baker: How dare you add to the pain and suffering of the loved ones of those tragic victims! They don't need to have the added burden you tried so hard to inflict on them. Tim, in your effort to be holier than thou, put yourself on a level with the very terrorists we're about to fight. Condemnation and intolerance are all thinly disguised hatred. I have friends of all faiths whom I love and I certainly would never condemn them or try to second guess God as to where they will spend eternity -- and I am a born again Christian. There are many people who hate us born against and your unconscionable, ridiculously inflammatory comments are why. Tim - you and those like you absolutely infuriate me. You do more to inhibit faith than you will ever do to enhance it. I'll pray for your soul! Pat Roberts PERTS1@aol.com ~~~ Let me say it differently I believe the government including the President or his speech writer should leave Jesus Christ out of the prayer remarks not to show discourtesy to the other religions and there believes assuming you are not a practicing Jew I thought you might get this. Regardless I probably will not see this understanding in my life time. I think public officials that represent the public should keep there personal religious believes such as Jesus or any other faith including Jewish believes to in general terms out of general public presentations .You personally in your newsletter can say any thing to any body about anything you feel pertinent and I would support it but I separate out church and state I think it is the right thing to do. Sincerely Steven Gilbert Steven Gilbert sgci@ies.net ~~~ Going to attempt to say something I've got to say without offending any reasonable individuals here: For starters Timothy Bakers comments were offensive. If someone tells me that if I don't believe what they believe I'm going to burn with Fire and Brimstone for eternity them I'm going to be offended. And I think Tim has picked up on that from everyone’s comments. Believe it or not, I don't believe he meant to offend anyone. Most Christians which follow the bible as close as possible based on some minor variances in interpretation from church to church do believe that their ticket to eternal life is by accepting Jesus as their personal lord and savior. Therefore, if you do not accept him as your personal lord and savior according to the scripture then the opposite effect would be the conclusion. Having said that, my own parents believe that if they lead a "good life", don't murder people and are nice people they will be taken care of in the afterlife if there is such a thing as a god or higher power that created us. Personally I disagree with my parents and I believe that I do need to make a consorted effort to show my creator appreciation for creating my through worship and through public witness. Most Christians are aware of the scriptures that back up these beliefs and I can quote them if you like but am attempting not to be too much of a "bible beater" as you mentioned in the earlier post. Now for the point. Do I tell my mother that she is going to hell because she has not accepted Christ as her personal lord and savior? I've chosen not to. My wife did say this however once and upset my mother greatly. Again, her intent was not to offend but of course she made my mom cry. Therefore I have come to the conclusion that you can make people aware of your beliefs and without pointing the doom finger they can draw their own conclusions. If I was raised Jewish, would I still be Jewish? If I were raised Muslim would I still be Muslim? Maybe so and when I die I will either see the light and know the truth or I will see nothing at all.... And it is the potential for nothing at all that scares me more than anything, Jeff North American Capital ~~~ As a broker I receive your daily letter every day with great interest I have even asked you for some employment help and you gave it to me no questions asked . On other content outside the leasing industry in the news letter I skim through occasionally I stop and read word for word . It sometimes seems you give your personal feelings on matters since you are responsible for your own content again no foul but where I part with you is the acceptability of ones religious faith as a Jew I learned to carefully respect the religions and there consequences as it pertains to them avoiding the appearance of favoritism or any other word that similarly describes it. Why is it so difficult to respect other religions and there beliefs especially in a public format such as this newsletter Tonight I will go to services and think and pray for the people who have lost there lives and there families that remained behind . I anticipate that the Rabbi will share with us his thoughts and feelings He may or may not mention there faiths while he is doing it .The point is it wont be necessary to bring out there religious believes other than there believe in _Od You have my permission to print my name if you wish Steven Gilbert <sgci@ies.net> Please allow me to share a prayer from Francis of Assisi: "Lord, make me an instrument of your peace. Where there is hatred, let me sow love; where there is injury, pardon; where there is doubt, faith; where there is despair, hope; where there is darkness, light; and where there is sadness, joy..." ALSO I would like to share my favorite quote from Francis: "Preach the gospel all the time. If necessary use words." Let me start out by saying that I am a Christian. This is a statement that I find that many people, who claim "tolerance" as a philosophy, are intolerant of. If someone does not tolerate intolerance, doesn't that make THEM intolerant? I would like to explain what I believe as a Christian, and give a plea for unity. First a Christian is not a "judge" of others! As a Christian I am commissioned by Christ to "Love my Neighbor." Actually to Love God with all my mind, heart and soul and Love my neighbor as myself AND I don't get to pick my neighbors! Some comments were made in Leasing News that injured others because they were thoughtless at best, although I do not think what was said was intended to harm. I believe that it is "childish" (immature) to tell someone that "I am sorry for your loss" and then tell them that "they most likely went to hell, what a shame.." "When I was a child, I talked like a child, I thought like a child, I reasoned like a child. When I became a man, I put childish ways behind me." (1 Corinthians 13:11) When I become a man in Christ, I begin to use wisdom, (wisdom is having a lot to say but knowing not to say it, especially if it will do harm and not minister.) I believe myself that all cry out to God in their final moments. The Bible says " WHOSOEVER shall call on the name of the Lord shall be saved." (Romans 10:13) Who am I to say who is not saved? My understanding is limited to my reality. This will change as my reality changes. God doesn't change, we do, He changes us. "Now we see but a poor reflection as in a mirror; then (in His presence) we shall see face to face. Now I know in part; then I shall know fully, even as I am fully known." (1 Corinthians 13:12) God is God and He decides whom He saves, as for me I will leave all of that to Him. My job is to love, My job is not to judge, not to condemn to hell, but to minister to the wounded and hurting, to feed and help those hungry and needy. Not all who say the "sinner's prayer" are Christian. If God is Love and God is in my heart through Christ then I must know what love is: "Love is patient, love is kind. It does not envy, it does not boast, it is not proud. It is not rude, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. Love does not delight in evil but rejoices with the truth. It always protects, always trusts, always hopes, and always perseveres. Love never fails." (1 Corinthians 13) My observation is that the Christians and some Churches have a tendency to point a finger, to judge, to criticize, and to threaten people into saying a "sinner's prayer" like insurance salesmen selling life insurance. The result is that people come to know Christians as critical, intolerant and judgmental. This is not what was intended by Christ. Jesus hung out with tax collectors and prostitutes. He ministered to wounded and hurting people in Love. Jesus is a Jew. He Loves God and He loves us. My job is to do the same if I want to call myself a Christian. Love is tolerant. The question is why are those people who espouse tolerance so quick to be intolerant of others. Being a Christian is automatically stereotyped as being intolerant by so many so quickly. I know that Christians have done enough to earn the reputation. I just think that if someone wants to be tolerated they ought to be tolerant. Don't you? We all have a choice to love one another, or to be intolerant of one another. We are truly all in this together. Yes we are angry at what has happened and yes we have all been witnesses of great evil. Now is the time to join together in all kinds of prayers, to find our common Holy ground and intercede for humanity. We are on the eve of a great and terrible war. Now is the time to love and tolerate each other. To build on the common foundations that we have and celebrate our differences. As a Christian I believe that Love leads to God and that intolerance separates not only others but myself from Him. I have no choice I am compelled to Love. It is my responsibility to forgive and be forgiven. The government is ordained to carry the sword of justice. Let us honor the dead by going to back to work and striving for unity. Let the government and God go to war and mete out an even measure of justice. No one on this list is the enemy. Fred St Laurent Christian and Senior National Recruiter ELA, UAEL and NAELB Member Management Recruiters of Melbourne, Inc 321-951-7644 ext 3123 321-951-4235 Fax fred@mrirecruiter.com http://www.mrirecruiter.com
~~~ Why don't we stick to leasing business and leave the religious aspect alone. Which, incidentally, doesn't mean we can't pray for America and particularly for those who lost their lives and their families. Wayne Evans <wwevans@westoverfinancial.com ~~ Good Morning - I am not one for writing into your newsletter - - I stay pretty busy running this business but I do print you out and read it at home some evenings.- I was so angry Friday reading the comments from your readers re Tim Baker's comment, that I thought it best if I cool off over the weekend before writing to you. I do not know Mr. Baker - at least I don't think I do. I do not believe he meant to anger anyone - he was speaking from his heart - I do not know him, but that is what I believe - if your readers took offense with what he wrote they need to sit back and reevaluate a bit. I do know some of these men and I want to believe this was a "knee jerk" reaction with the emotional mixed feelings we all have at this time. One other note - Sunday my 2 and half month old Granddaughter - Isabella Grace - daughter of Bruce and Angie (Some will remember Angie Sciotto from her NAELB days) was baptized. After the church ceremony we had 30 friends and relatives at our home for brunch. It was a joyous occasion and at one point I stood in the dining room watching the guests and I mentally noted I had Catholics, Presbyterians, Lutherans, Methodists, Jewish and Baptists - and even one Agnostic in my home. I thought about your newsletter sent out Friday and my eyes filled with tears - happy that this small group of people had gathered together and for a few hours took their minds off Tuesday's tragedy. - June Sciotto June H. Sciotto" <june@theregalgroup.com ~~~ I have been a devout Christian all my life. Many of my ancestors came to this country from England, Ireland, Scotland and Germany seeking religious freedom as early as the early 1600's. Many fought in or supported the American Revolution where we first won the freedom we now enjoy. I have at least three Methodist ministers in the family. However, I too, was very offended by Tim Baker's remarks. Of course, as Christians, we believe that our salvation is through Jesus Christ. However I truly hope that we don't believe that we are the only ones that God will admit to the Kingdom of Heaven. Someone pointed out that nowhere in any major religion could he find that religion preaching, hate, intolerance, murder, or mayhem. All major religions try to bring out the very best in mankind. If only we would follow the teachings of our own religion(whatever they may be), this world would be a much better place. My daughter married a Catholic. My son married a Jewish lady. Obviously they heard no hatred or intolerance from me when they grew up. C. Rogers Childs, Jr. - Vice President European American Bank 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 ~~~~ Thank God that Tim Baker had the courage to speak a word for his Lord!!!!!! As the Good Book says, they hated Me, why would you expect to be treated any differently!!! It was not meant to be words of hate. Tim I personally know the feeling in your heart and especially at time like these, your words were the most comforting words that could possibly be stated!! Tim, you will always be persecuted here on earth!!!! God will reward you in Heaven one day for your courage to speak His name:)))))))) In His Grip jj ~~~ I feel compelled to write this as a favor for a friend. I have known Tim Baker for 8+ years and I consider him to be a close friend, in fact he is the one who turned me on to your newsletter. I remember the first day he walked into AT&T Capital and the transformation he has gone through, in both his personal and business life, is incredible. If you had seen him then and knew of his past life and could know him now and they way he lives his life, you would be truly amazed. He has come a very long way. I agonized for several hours about whether or not to write this e-mail, but I feel I need to give you a view from someone who knows him personally. I know he is a big boy and he doesn't need me to stand up for him. I also know that some of what I say here he will not agree with. Friends can agree to disagree on many issues and this will probably be one of those times. Tim was simply expressing his opinion. He was trying to be a good Christian Solider. He is a family man with a wife and beautiful children, not some neo-nazi skinhead out to abolish the Jewish, or any other, God fearing religion. Now isn't one of the foundations of democracy the right to express opinions-religious or otherwise-without fear of reprisals? He believes that if you haven't accepted Jesus as your savior, then you will go to hell. At least that's what I think he means. I don't personally believe it's that cut & dry, but I'm not going to get into a religious argument with anyone. That is the part Tim will not agree with. The point is that Tim was trying to get more people to recognize Jesus as their savior. I don't think this was the proper forum for him to do that, and I believe he did show an error in judgment by sending this out. BUT, I can assure you that his intention was not to spread any hate or add to any sorrow on this most darkest of weeks. I am sure he will say that he should witness all the time, any time. That is his right. I would defend his right to say and do that, anytime any place, with my life. That is what being an American and living in a free society is all about. I am sure he would do the same for me. I also think that some of the blame lies with you Kit. You, as the editor of this newsletter need to filter out what is and isn't appropriate. If Tim had sent you a profanity laced e-mail, I'm sure you would not have printed it. That is your responsibility. It is also your responsibility to determine if someone's e-mail, even if delivered with the best intentions, is not appropriate for the situation. I clearly believe that Tim's e-mail was not appropriate given the situation. If you disagree with what I say your responsibility is, then I guess we have a vast difference of opinion that no amount of arguing will solve. I would rather that you don't print this reply or my e-mail address. Not because I am afraid or scared of repercussions, but because I am simply sticking up for a friend and his beliefs. This was a case of poor judgment on both your and Tim's |