Tagged With "Lease Corp of America"
Comment
Re: Ten Ways Copier Reps Can Make Their Proposals Stand Out to Win More Orders!
Thanks. Good reminder. Enjoy the holidays.
Comment
Re: 57 Days of Selling "Day 47"
Art, these are great for our sales teams. Keep them coming. Thank you. Carl Carl Little Director of Business Development Datamax KC 913-752-2256 (direct) 913-333-7180 (cell)
Comment
Re: 57 Days of Selling "Day 47"
Karl Thank you! Please feel free to share via social media also! Ten more to go. I was just thinking about doing a journal for the entire 2017. Art
Comment
Re: 57 Days of Selling "Day 47"
I am seeing more of that with wide format recently and I am not sure why. Most of what I have seen has been where they are running the same volume as before but they just don't want to have a machine anymore so they outsource it and it doesn't seem to matter if the machine was leased to them for a $1 a month they still wouldn't do it.
Reply
Re: Leasing Company Changes and Funding Disruption
We only use Great America but i have not seen any disruption. All seems normal with them other than the little caveat that the business must be open and operational at the time of funding. I haven’t seen credit tighten up from them or feel they are any more strict than usual.
Reply
Re: Leasing Company Changes and Funding Disruption
I've seen the same with Great America also, they were always a little bit tight on credit anyway thus nothing has changed with them. That's a good thing
Comment
Re: Ask Me Anything
Sounds like I missed a good knowledge drop last week Art! Had a pretty good excuse, but love the topics discussed! I'm always learning and part of this ongoing learning is something from your blogs/emails that I throw in my knowledge bucket. Keep it up and I appreciate what you do!
Comment
Re: Ask Me Anything
@TML Yup anytime there;s a new family member it over rides anything that has to do with business. Hope to have you on the next call. Just remember to RSVP on the calendar and I will send you the link
Reply
Re: Bad salespeople still exist, don't they?
Spot on Art. I love Gary Vaynerchuk's famous quote, "Legacy is greater than currency." You never know where you will be in 5 years. Walking away from every deal with your reputation and integrity intact is more important.
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
In my opinion, what the dealer was funded is not material. That is between the dealership and the leasing company. If it truly is insurance to cover just the device you either insure for the amount necessary to cover the debt should something happen which would be sum of payments plus the residual value or insurance to cover the replacement cost. However, most office equipment is covered under a blanket policy covering all building contents.
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
To be on the safe side, I always give my clients the MSRP on the equipment as the number they should provide to their insurance company.
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
txeagle seems you may have the best answer, just quote them MSRP and we should be safe. We just went through one of these where the copier was damaged by fire and was covered under the BOP policy. The insurance company paid the stream of payments plus the residual. I'm always somewhat concerned when I have to quote a price to the customer and then that customer uses that for the value of the equipment to the leasing company. If you sell at MSRP and the equipment is leased, then you need to...
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
If you sell at or above MSRP due to significant GP or because a buyout was involved, I would quote the Stream of Payments of the hardware + the buyout, excluding the portion of the monthly payment attributable to Service/Supplies in the case of a bundled lease/service agreement.
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
Tx, ty for this this. I don't bundle MA/Supplies. I just don't want my customer to get jammed in case there is a loss. We've had quite a few losses here in NJ with the storm from a few years ago. I'm just looking for the right thing to do for customers who opt out of the leasing companies insurance. I'm somewhat skeptical of giving them stream of payments plus residual, may open up a can of worms.
Reply
Re: Leasing, Insurance, Padded Rates, Buy Out Price
I've had the question come up a few times over the year and I simply give them full MSRP for the machine and all accessories as the amount.
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
If anything you should be bumping outright purchase prices and discounting leases. The customer who purchases their equipment outright keeps their equipment too long and may go elsewhere when the time comes to upgrade anyway.
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Maybe not such a bad thing. This makes shorter term leases with less interest more attractive and therefore leases can be turned faster as long as your not padding your leases to begin with.
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
This bill may not apply to Fair Market Value leases. There is no mention of establishing the residual value of the asset which makes the interest rate impossible to calculate. Is a .0278 rate on a 36 month FMV truly -0- interest? Of course not. If you don't end up with title to the equipment, you really haven't financed anything. What is the interest rate on a Hertz Car Rental? What is the difference between that an a 36 mth FMV other then the length of term?
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Hello Art and the rest of the P4P members - Our industry association (ELFA), along with several independent law firms that represent many of our industry members are reviewing this legislation to determine the actual effects it will have on the industry as a whole and to provide guidance so that our members will be in compliance with the legislation. What we know at this point is that is you are involved in offering financing to businesses in California, you will be subject to this...
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Padded lease rates are used to "pad" the pockets of dealer principals who are taking commissions away from their sales people. It's a dishonest but standard practice that should be eliminated, so this sounds like healthy change in the right direction.
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
In some cases, more is made on the lease padded rate than the salesperson makes in commissions. Others may tell you that they use the "padded" rates to create promo's for the reps. Do I look like I need an incentive to sell? Frak that, if you need an incentive to sell then you need to get a job at Mickey D's
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Here is a report from leasingnews.org. One of their legal editors is doing a three part review of this legislation. Leasing News Exclusive: State Senator Steven Glazer and the genesis of CA SB 1235 (Part 1 of 3) By Tom McCurnin Leasing News Legal Editor This is important not only if you are doing commercial business in California, but this may affect other states. If you are new to this, here is legislation passed both the assembly and senate, awaiting California Governor Jerry Brown’s...
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Part Two: Leasing News Exclusive: The Opposition and How Senator Steven Glazer Got SB 1235 Passed (Part 2 of 3) By Tom McCurnin Leasing News Legal Editor The bill was "Engrossed and Enrolled" and presented to the Governor at 5 p.m., September 12th, awaiting his decision to sign or veto. How He Pushed It Through the Legislature What are the takeaways from this interview and SB 1235? ▪ First , I Was Surprised at the Overwhelming Support of Trade Groups for the Bill. When he rattled off the...
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
Part Three Leasing News Exclusive: Is the Disclosure Too Complicated? State Senator Steven Glazer Position on CA SB 1235 (Part 3 of 3) By Tom McCurnin Leasing News Legal Editor The bill to require full disclosure of interest rates is awaiting Governor Jerry Brown's signature. It was reviewed to be recorded and sent to his office late last week. It seems unlikely he will not sign it as it passed the State Assembly 72-3 and in the Senate 28-6 .It then will be up to the California Department of...
Comment
Re: Is This the Beginning of the End for the Padding of Lease Rates?
from today's Leasing News. Ralph Petta Reaction to Tom McCurnin's "Is the Disclosure Too Complicated? of SB 1235" [ http://leasingnews.org/hires/petta_ralph2018.jpg ] From: Ralph Petta President and CEO Equipment Leasing and Finance Association 1625 Eye Street, NW * Suite 850 Washington, DC 20006 "Allow me to take exception and set the record straight with respect to Mr. McCurnin's statement in his September 21 article(1) about passage of disclosure legislation in California, SB 1235 that...
Comment
Re: Copier Parts & Accessories China Tariff Starts in 9 Working Days
Would be nice if they could put some mfg plants in north america
Reply
Re: "Green Jobs"
Our grandchildren will so ashamed of us for being snookered by the whole "climate change" scam. Loveland ski opens today, A-Basin on Friday By John Meyer The Denver Post POSTED: 10/06/2009 02:56:45 PM MDT UPDATED: 10/07/2009 10:06:35 AM MDT Loveland Ski Area was making snow Tuesday afternoon. (Loveland Ski Area ) And the winner is ... Loveland Basin. Boasting its earliest opening day in 40 years , Loveland officials opened for skiing today. Arapahoe Basin announced it would open Friday.
Reply
Re: Leasing Approvals for Marginal Deals
Art you best bet would be to look at Timepayment Corp in MA. You will have to provide personal info and do a personal guarantee. Most of the others listed will shy away from marginal credit.
Reply
Re: Personal Property Tax
wyzguynyuk: We use GE and Great America. The problem with GE is that sometimes they would go back to the customer and say they under estimated and have to collect the difference, thereby defeating the purpose of including it. Great America's rates are higher, but there are no surprises. We've decided to include personal property tax in all leases for tax exempt customers. It is at this time at the sales persons discretion to include it on taxable customers. Sometimes the $1 buy-out is...
Reply
Re: A Funny Thing Happened on the way to the Copier Demo/Appointment
Had a demo years ago on a fax machine. Had a big wheel from corporate wanting to do a ride along with a rep for the day. Customer wanted to see quality and asked one of their customers to send a test fax. As all the admin complained about the speed, the corp guy explained that a very detailed fax would take more time because of memory issues. As everyone crowded aroud the fax to innspect, a very vivid porn image was reproduced with striking detail. We made the sale
Reply
Re: UPDATE 3-Canon buys Dutch Oce for $1.1 bln, fights Ricoh
Found this on the web today:: By Pavel Alpeyev Nov. 18 (Bloomberg) -- Orbis Funds, the asset manager that opposed takeover offers by Warren Buffett and Citigroup Inc., rejected Canon Inc.’s 730 million euro ($1.1 billion) bid to buy unprofitable Dutch printer maker Oce NV as too low. Canon’s 8.60 euros-a-share offer “significantly undervalues” Oce’s assets, and Orbis doesn’t want to sell its stake of about 10 percent at that price, the Bermuda-based manager of $20 billion in assets said in a...
Reply
Re: UPDATE 3-Canon buys Dutch Oce for $1.1 bln, fights Ricoh
Canon and Océ: More Details Canon and Océ: More Details By Cary Sherburne on November 19th, 2009 Océ management conducted a well-attended press teleconference today to provide further details of its acquisition by Canon. Jan Hol, who was interviewed earlier by WhatTheyThink, was on the line from Europe, and North America was represented by Mal Baboyian, president, production printing systems, Océ North America, and Joe Skrzypczak President and CEO of Océ North America. Océ reiterated that...
Reply
Re: Ricoh Pro C720
Ricoh Americas Corporation announced today the official launch of the Ricoh Pro C720/C720s, a production class multi-functional color system and the latest addition to Ricoh’s Pro series of products, designed specifically for the production environment. This flexible system targets corporate and commercial professional print environments with demanding application needs. The Pro C720/C720s has a robust duty cycle of 320,000 images per month, and runs at 72 pages-per-minute (PPM) regardless...
Reply
Re: Panasonic Canada discontinues A3 Copier Distribution March 2011
Panasonic Takes Aim at Fast-Growing A4 Class MFP Market Company to emphasize growing A4 MFP format in response to customer demands SECAUCUS, NJ (February 4, 2010) — Panasonic System Networks Company of America today announced plans to substantially increase its footprint in the burgeoning market for A4 multi-function products. The A4 market has undergone rapid growth and is emerging as the de facto standard in the marketplace. As a consequence the A3 market has been fading and will no longer...
Reply
Re: Matt Espe named CEO of Ricoh Americas Corp
It is surprising that they left Marty (The English Hammer) in America as Execeutive VP and CFO. As for the consolidation of locations and offices, the plan is for immediate synergy:
Reply
Re: Matt Espe named CEO of Ricoh Americas Corp
5 of these 8 people at Ikon now hold top Ricoh Americas Corp positions: Management Team Matthew J. Espe (RAC) Chairman and Chief Executive Officer Mark A. Hershey (RAC) Senior Vice President, General Counsel and Secretary Jeffrey W. Hickling (RAC) President and Chief Operating Officer Henry M. Miller, Jr. Senior Vice President, Chief Financial Officer and Treasurer Daniel Murphy Vice President, Global Strategy and Communications Tracey J. Rothenberger (RAC) Senior Vice President and Chief...
Reply
Re: Konica Minolta’s new 240f multifunctional is a versatile performer
Lovely Muratec!Too bad it is not available in North America!
Reply
Re: matt espe quits
WEST CALDWELL, N.J., June 25, 2010 /PRNewswire via COMTEX/ -- Ricoh Americas Corporation, a leading provider of digital office equipment and advanced document management solutions and services, today announced that Kevin Togashi will assume the role of Chairman and Chief Executive Officer of Ricoh Americas Corporation effective July 1, 2010. Togashi takes on the role from Matthew J. Espe who has resigned his post as Chairman and Chief Executive Officer of Ricoh Americas Corporation to become...
Reply
Re: Ricoh Ends Relationship with Ratio
Here's what I heard. 1. Ricoh is not supporting the ratio controllers anymore, due to the fact that they find that thier embedded controller will meet the needs of the AEC market or something close to that effect (I really had to laugh when I heard that) 2. Ratio America which advertises on the P4P forums is selling and support the ratio controller (http://plotbasepm.com/rip_cube) with the rip cube. 3. Ratio.de website is still up and running http://www.ratio.de/ The truth of the matter is...
Reply
Re: Ricoh Ends Relationship with Ratio
Let me further clarify my post. My understanding is this, Ratio Germany has filed for bankruptcy and no longer doing business. Ratio America is now its own entity and doing business seperately. They drive the Plotbase PM website and are selling Plotbase/Rip Cube etc. There is legal discussions that will allow Ratio to work with Ricoh. I think Ricoh recognizes the embedded is not sufficient but is tied legal on their actions. Also, Ricoh is still provide tech support for the controllers that...
Reply
Re: Lease Approvals
I thought we had a thread similar to this and maybe even a poll. I would say that 90% of my deals are getting approved by the likes of GE, DLL, Great America, etc, however I am pre-screening customers now and not even taking apps from some, due to thier industry and or financial status. Some have bought and others have tried elsewhere, thus the reason my approval rate is high is because of the pre-screening and I believe would be far lower than 90%.
Reply
Re: Competitive Copier Vendors
Lets get reaaaady to ruuumble! I know that not every statement I make is not true everywhere in North America. Hopefully, you will get a few "bullets for your gunbelt" on your next sales call.
Reply
Re: Quake in Japan
(Updates with Honda, Nissan closures beginning in fifth paragraph. See {EXT2 } for reports on the quake.) March 11 (Bloomberg) -- Companies including Sony Corp. and Toyota Motor Corp. halted output at plants after an 8.9- magnitude earthquake struck off the coast of Japan, damaging production facilities and causing power outages. Sony halted and evacuated six factories in northeastern Japan, said Yasuhiro Okada, a spokesman at the Tokyo-based company. He said the company was assessing the...
Reply
Re: How will the earth quake in Japan affect...
The earthquake and tsunami that have roiled Japan so far have not caused sizable production or supply chain problems for the Rochester area's major employers. Eastman Kodak Co. has two production facilities in Japan that produce printing plates. The Gumma facility, two hours northwest of Tokyo, sustained minor damage in the disasters "and should be able to go back in production fairly soon," said company spokesman Christopher Veronda. "We believe that any impacts to the supply chain will be...
Reply
Re: Ricoh USA Eliminates CEO/President
Prior to the July fourth holiday weekend, it seems Jeff Hickling, President and CEO of Ricoh U.S. found his position was to be eliminated. Sources within the company that wish to remain anonymous have told us that Hickling is out. This has been confirmed with a letter from Kevin Togashi, Chairman and CEO of Ricoh Americas Corp. that was forwarded to us. For now, Kevin Togashi, Chairman and CEO of Ricoh Americas will direct the U.S. sales and operations. While working hard to build Ricoh as a...
Reply
Re: MOM Sues OSU for $1M over COMDOC Secret...
Two outside entities are claiming Ohio State University .Ohio State University Latest from The Business Journals Leading the List: Highest-paid Ohio State officialsHarley-Davidson CEO aims to ‘wow’ riders to keep turnaround in gearSlideshow: Most expensive college football programs Follow this company .employees have had improper contact with companies going through public bidding for university business, Columbus Business First reports. Cincinnati office equipment supplier Modern Office...
Reply
Re: Canon shaking up the great white north
Do not read too much into what happens in a small Canadian province and then apply it across North America.
Reply
Re: Toshiba TEC (and OCE) partner with Memjet
I just caught this, seems all is well with memjet and silverbrook! Memjet Legal Issues Resolved Friday, May 04, 2012 Press release from the issuing company Memjet today announced a key agreement that clears the way for the continued commercialization of Memjet's revolutionary color printing technology. Under the agreement, Memjet will assume direct ownership and control of the intellectual property portfolio related to the Memjet technology, which includes some 4,000 issued and pending...