Leasing News
Wednesday, June 16,2004
Independent, unbiased and fair news about the Leasing Industry
Headlines---
Classified Ads------Sales
Placard----You May Be Going Downhill
Greene Lease Agreement
Classified Ads---Help Wanted
Butler Capitalforms alliance with Mitsui & Co
American Lease Insurance Helps Commercial Lease Grow
Michael Dean Joins Blackwell Consulting Services
StorageTek Names Insight Investments Third-Party Lessor
Tarry Shebesta to Speak on Re-Leasing Off-Lease Vehicles
U.S. Fastest Growing Leasing Co. Hires Cusick to Manage Data
News Briefs---
Sports Briefs---
California News Briefs---
"Gimme that Wine"
This Day in American History
Baseball Poem
######## surrounding the article denotes it is a “press release”
------
Classified Ads------Sales
Sales: Atlanta, GA.
Accomplished leasing pro sales & sales management w/extensive exper., people skills; Multi-industry, small-mid ticket, vendor & direct. Skilled producer w/good book profitable business. Email:
Sales: Bakersfield, CA.
I have an extensive sales and management background in equipment leasing. My work history exhibits my major strength in small ticket equipment leasing. Email:
Sales: Boston, MA.
Middle market originator, construction/Trucks /
Trailers w/ 8 years in territory, looking for company / bank with competitive products Email:
Sales: Central, NC.
7 yrs.equip leasing &finance; specialist in heavy construction equip for 2-top-5-specialty finance/lease companies, NC &VA territories. $10-15MM annual funding. Downsized in 2002, now independent broker with varied customer base. Email:
Sales: Chicago, IL. 12+ yrs multinational/national sales & business development. Seeking role with captive lessor or global leasing company. Will relo right opportunity. Experience structuring complex transactions. Email:
Sales: Dallas, TX
30 years lease experience. Looking for Lender wanting to get into the Electronic Market can bring 11 years experience with national
vendors and customers. Email:
Sales: DenverCO.
Experienced Equipment Leasing Broker looking for a in house leasing company. Can bring a book of business with me or develop new territory where needed. Email:
Sales: Denver, OR.
Broker representative: Seek employment or partnership w/estab. finance group. Prior engineer making career change. Have pursued extensive self-education/ formal training.
Email:
Sales: Denver, CO.
17 yr sales exp.. in leasing sales (territory, National Accts, Sales mgt.) looking to bring experience to s sales/sales mgt role. Successful, accountable, ethical, aggressive, results. Email:
Sales: Detroit, MI.
7 years experience in IT small/mid ticket leasing with Fortune 100 co. Greenbelt certified in Six Sigma. Excellent communication, presentation & negotiation skills. Email:
Sales: Detroit, MI. 16-year lease veteran looking for opportunity in the Detroit area. Ability to bring on new accounts and manage existing base. Up to 60% travel acceptable. Email:
Sales: Detroit Mi
5 yrs sales experience in IT small ticket leasing/Greenbelt Certified with Fortune 100 company/strong communication and negotiation skills/book of business
Sales: Greensboro, N.C. Seeking direct & broker sales w/major finance companies in NC or southeast market. Small to mid-ticket range. Stable &family oriented. Will have series 6,63,65 license shortly. Email:
Sales: Hartford, CT. 10+ yrs leasing sales exp.; multi-industry, small-large ticket, Direct, Vendor, and Captive exp. Seeking sales position with captive or independent company with equity investment capability. Email:
Sales: Jacksonville, FL.
Seasoned equipment leasing professional, with over 10 years of experience, looking for position in business development in Northern Floridaterritory. Email:
Sales: Kansas City, MO.
15+ years in finance/leasing industry, extensive
knowledge in sales and management. Specializing in construction,
transportation and machine tool industries. Will re-locate for right opportunity. Email:
Sales: Los Angeles, CA.
12+years Leasing sales, underwriting/contract exper. including hi-tech, govt, direct & vendor leasing. Seeking role w/institution or captive. Exper. w/ complex transactions, including securities. Possible relocation.
Email:
Sales: Louisville, KY
I have been in leasing/financing of construction, machine tool, and mfg equipment for 20+ years. Traveled KY, IN, OH and TN.
Email:
Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Email:
Sales: Montgomery, AL.
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker.334-281-5200 E-mail:
Sales: Nashua, NH.
10+ years sales experience small & mid-ticket hi-tech & telecom in a captive and vendor environment. Seeking new sales opportunity in New England. E-mail:
Sales: Orange County, CA.
Skilled deal-closer at above-average rates. Entrepreneurial. Accomplished lease-structurer specializing in transportation. Exp. in direct/captive & syndicator environments servicing vendors, brokers, & end-users. Email:
Sales: Philadelphia , PA Seeking an open opportunity to advance in the automotive, commercial leasing & finance industry......
Email:
Sales: Prairie Village, KS Have substantial deal flow and database of broker referral sources. Generated and closed over $22M LY. Seeking exclusive relationship w/direct founder. Email:
Sales: Princeton, NJ: Regional Sales Manager: Last 15 years with captive. Knowledgeable in all aspects of leasing. Application to funding. Worked with 25 salespeople - east coast.
Email:
Sales: St. Louis, MO
Proven equipment finance sales professional looking for a new challenge which rewards success. Equipment type and location open provided you want business. Email:
Sales: San Bernardino, CA.
Account executive w/4 years exp. in small ticket &lower end middle market lease transactions, Outstanding ACT database compiled of over 500 vendors. Seeking a career driven position w/a reputable lessor
Email:
Sales: San FranciscoBay Area, CA
10+ yrs in middle market leasing. Seek direct lessor only. Transaction size from $500M to $10.0MM. Client base: printing, food, retail, manufacturing. Email:
Sales: San Francisco, CA.
18 years of sales production, the last 10 in technology leasing to both traditional and emerging growth credits. Seeking direct funder. I can close for you! email:
Sales: San Francisco, CA.
Middle market originator. Transaction size $500M to $15.0MM. Industries: food processing; distributors; plastics; retail; heavy manufacturer. Seek direct lessor employment only. 10 yrs B/D experience. Email:
Sales: South Central U.S.
TX, OK, KS & AR Territory.
Equipment finance and leasing professional,
20 years experience. Top producer in middle
to upper middle markets. Extensive customer base. Email:
Sales: Stuart, Fl. 17 years exp. leasing in small ticket and large ticket, portfolio management exp. along with sales management and administrative background, strong sales and marketing skills. Email:
Sales: Tampa, FL. 27 years experience. Very adept in bank lease programs and direct sales in MM/LT. Looking to re-enter the industry. Will relocate to Texas. Hungry. Email:
To view 101 “Job Wanted” ads, please go to:
------
Please send to a colleague. Also ask them to subscribe.
We are "free."
------
Greene Lease Agreement
Ten sponsors paid $200 each to employ attorney Ken Greene to create
a letter which basically spells out what can be kept if a lease applicationdoes not move forward and fund.
Steve Chriest
Diablo Capital
1710 Les Trampas Rd.
Alamo, California 94507
925-570-5459
Ben Carlile
Allegiant Partners Incorporate
999 Fifth Avenue, Suite 300
San Rafael, Ca 94901
(415)257-4200
Patrick Byrne
Balboa Capital
2010 Main Street 11th Floor
Irvine, Ca. 92614
949.756.0800
Warren Hawkins
Bank Partners
2496 Rocky Ridge Road
Box 43738
Alabama, Ca. 35243
800-456-6639
Gary Saulter
Chase Industries 109 Ottawa Ave.
Grand Rapids, MI49503
(616) 459-6800
Gary Trebels, CLP
8700 Waukegan Road
Suite 100
Morton Grove, IL60053-2103
(847) 663-6700
Theresa Kabot
Kabot Commercial Leasing
7043 - 12th Ave., N.W.
Seattle, WA98117
206) 301-9960
Charlie Lester
LPI Financial Services
3535 Roswell Road Suite 62
Marietta, GA30062
800-573-7796
Bruce Larsen
Leasing Partners Capital
1211 Hamburg Turnpike
Wayne, New Jersey07470
(973)709-011811211 Hamburg Turnpike, Wayne, New Jersey 07470973)709-01
Mark Watkins
Geneva Capital LLC
522 1/2 Broadway Street
Alexandria, MN56308
800.408.9352
The instructions to Ken was to basically make it “simple” and keep to onepage. It is a template format to join the other Letters of Engagementsection on Leasing News.
The agreement was not only reviewed by the sponsors, but by approximately thirty attorneys, mostly who specialized in leasing, and two California superior courtjudges. It took some time for the review, to say the least.
The bottom line, most had “no comment.” There were several suggestions.In addition, most were like David Mayer:
“We tend to customize agreements for each deal, starting with a broker's form in many cases. The business deal dictates who keeps the bucks in a busted deal.”
Regards,
David
David G. Mayer
Patton Boggs LLP
2001 Ross Avenue
Suite 3000
Dallas, Texas75201
Tel: (214) 758-1545
Fax: (214) 758-1550
Author of Business Leasing For Dummies
Founder & Publisher of Business Leasing News
There were several suggestions we did not adopt, not because they did nothave validity, but would expand the concept to a second page. We realizethis document could not be represented as “tested,” as it is not, plus differentstates have different laws regarding “deposits” and “advance rentals.” Such things as adding that the expenses would
not incur interest if included in the advance rental, if it went forward,
appeared that it had value, but we realized that in arbitration or any
formal dispute, it could be addressed at that time, if necessary.
We also assumed that receipts for expenses would be required in
any court of law or arbitration, and bringing this up to present
to the applicant at this time, would complicate matters. Adding
a phrase of “ up to” or “not to exceed” we thought should be
the decision of the user, and their legal counsel.
Inaddition, there are other commitment letters that contain the other suggestedprovisions in the collection of Letters of Engagement. This wasspecifically designed to help spell out an agreement to keep expensesincurred in processing an application when the lease does not fund.
We very much appreciate the time put in by those who sent us
their comments and suggestions.
By the way, those that made a comment were quite complimentary of Ken Greeneefforts, such as from Ray Garwacki:
“Since you sent it to 15 different lawyers you are going to get 27 different responses and/or improvements. (We originally started with 15.)
“For what it is intended to be and within the guidelines as outlined it is a good starting point. The key is that everyone knows that it will be modified on a deal by deal basis.
“Ken has done a good job in coming up with this template.”
Ray Garwacki
“This is a good, basic form to which address a basic, bottom-line situation which frequently arises in our industry. It obviously is to be used as a starting point, because every transaction requires individual scrutiny and draftsmanship.
“Being able to keep this form to a single page is a big advantage. An excellent effort by Ken Greene.”
James E. Coston
We advise that any document you would like to utilize that you review with your ownlegal counsel first. It may save you a lot of money in the long run.
Greene Agreement to Keep Expenses
THIS AGREEMENT is executed on ______, between
______(APPLICANT”) and YOUR COMPANY NAME.WHERAS the
APPLICANT desires and YOUR COMPANY NAME agrees to seek lease financing for certain personal property selected by APPLICANT:
1. APPLICANT, as an inducement to YOUR COMPANY NAME to seek lease financing on its behalf, shall submit documents and other information to enable YOUR COMPANY NAME to procure or provide said financing.
2. APPLICANT, in consideration of the promises of YOUR COMPANY NAME herein, shall pay to YOUR COMPANY NAME the sum of $______together with the execution of this agreement. All or part of this payment shall be retained by YOUR COMPANY NAME, whether or not such financing is provided or procured, as compensation for its out of pocket costs including, without limitation, the following estimated charges;
ADMINISTRATION,FEES $
CREDIT COSTS $
DELIVERY/UPS/FEDX $
DOCUMENTATION $
DUN AND BRADSTREET $
TIME AND EFFORT: $
3. [OPTIONAL] Should YOUR COMPANY NAME provide or procure lease financing for APPLICANT, the fee referenced herein shall be applied towards any advance payments required pursuant to the contract or contracts selling forth the terms of said lease financing.
4, In the event of a dispute pertaining to or arising out of this agreement, APPLICANT and YOUR COMPANY NAME agree that the matter will be submitted to binding arbitration utilizing the services of a neutral and competent arbitrator agreed to by both parties. In the event the parties are unable to agree upon an arbitrator, any claim or dispute hereunder shall be resolved in YOUR STATE in accordance with the Commercial Arbitration Rules of the American Arbitration Association before a panel of three (3) arbitrators, one appointed by APPLICANT, one appointed by YOUR COMPANY NAME, and the third appointed by said Association The decision or award of the agreed upon arbitrator, or in the case of a three arbitrator panel, the majority of the arbitrators, shall be final and binding upon the parties and may be entered as a judgment or order in any court of competent jurisdiction.
[YOUR COMPANY NAME] [ APPLICANT ]
By: By:
Name: Name:
Title: Title:
Engagement Letter Agreements
Classified Ads---Help Wanted
Business Development Officer
Business Development Officer, leasing exp.,min 3 yrs business & direct sales exp. Banking procedure knowledge helpful. Gilroy, CA location, serving four surrounding counties. E-mail or see Career Opportunities
About the Company: Pacific Capital Bancorp is a $5+ billion, multi-bank holding company dedicated to providing an enduring network of community banks on the Central Coast of California. This unique partnership of independent banks provides customers in six California counties with the financial strength and product diversity of a big bank, delivered with the responsiveness and personalized attention of a local community bank.
Sales
Sales: Long Established West Coast Co., lessor/broker looking to expand. Top commission/salary/bonus. Organized with sales experience in small/mid size leases a necessity. Home office OK. Experienced back office support.
Contact
About the Company:
Sales: Established 20-year full service lessor seeks sales professional in small or mid ticket markets. Earn high commissions, with benefits.
About the Company:
### Press Release #############################
Butler Capital, national equipment financing and leasing firm,
forms alliance with Mitsui & Co. (U.S.A.), Inc.
Hunt Valley (MD)-based Butler Capital, a national equipment financing and leasing firm, has formed a strategic alliance with Mitsui & Co. (U.S.A.), Inc. (Mitsui USA), a wholly owned subsidiary of Mitsui & Co., Ltd. of Japan.
Under terms of the agreement, Mitsui USA has invested in the 27-year-old financial services company which provides financing and equipment leasing for businesses nationwide and has special expertise in the convenience and gas, car care, dry-cleaning, commercial laundry and franchise markets.
According to Lawrence J. Butler, founder and president of Butler Capital, who retains sole ownership of the firm, “Our alliance with Mitsui USA enhances Butler Capital’s already strong capacity and capital and opens opportunities for Butler to provide services to Mitsui USA’s numerous subsidiaries, affiliates and customers.” At present, Butler Capital employs nearly three dozen staff members at its Maryland headquarters and in sales offices in Pennsylvania, Georgia, Colorado, and Kentucky.
In recent years, the firm has expanded financing programs for its commercial customers to include “QuickLease,” application-only borrowing up to $50,000; “AdvanceLine,” a pre-approved equipment lease line of credit; and “ProjectLine,” a large-dollar line of credit to serve customer needs over the duration of a project. Butler’s programs are directed to general small business needs, as well as major equipment purchases, acquisitions and business expansions.
Mitsui & Co. (U.S.A.), Inc. is an international trading company engaged in import, export and off-shore trade, and domestic wholesale enterprises through 11 offices in major U.S. cities. Mitsui USA is also active in business investments, project development and management, capital goods leasing, and technology transfer. Its parent company, Mitsui & Co., Ltd., is one of the world’s most diversified and comprehensive trading companies, in 2003 ranking sixth in Forbes magazine’s “International 500” and 11th in Fortune’s “Global 500.”
Contact: Fran Minakowski
(410) 771-9600, x 1024
### Press Release ##############################
American Lease Insurance Helps Commercial Lease Grow
“As Commercial Equipment Lease Corporation of Eugene, Oregon, business grew, it became more imperative for them to ensure that those growing assets were protected - and less feasible for them to adequately handle tracking in house. Using an insurance
program (American Lease Insurance)enabled them to achieve compliance with better coverage - ultimately improving lessee satisfaction, as well. It's a positive comment about growth in the industry, and how a company manages some of the issues that result from that growth - and about the progress American Leasing Insurance has achieved by marketing a program that addresses needs specific to the leasing industry.”
Janet Unger
413-586-6479
fax 413-585-5925
EUGENE, OR – Commercial Equipment Lease Corporation (Commercial) is relying on the American Lease Insurance (ALI) program to ensure adequate asset protection, reports Jim Johnson, Commercial vice president and general manager. “We needed to make sure we were in compliance. Our company has grown to the point where it was no longer feasible for us to dedicate staff to insurance tracking. The ALI program was a viable alternative for us.”
“We looked at other vendors,” continues Johnson, “but it was ALI’s program that fit the way we wanted to treat our customers. Also, their familiarity with our operating software platform made startup pretty simple.”
The automated ALI program is integrated with LeaseTeam, the software used by Commercial. In addition to providing comprehensive property and liability coverage on portfolios of equipment costing under $250,000, the ALI program tracks insurance coverage during the terms of the leases for lessees who choose to use their own insurance. ALI does not require any lessor premium advances.
“We know our assets are protected, it doesn’t require an investment on our part – and it provides us a potential income source,” finishes Johnson.
According to American Lease Insurance founder Steve Dinkelaker, ALI’s growth has accelerated as more lessors take advantage of the opportunity ALI provides.