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Monday, August 3, 2020


Today's Leasing News Headlines

Financial Partners Corp (FPC) Restructures
    and Rebrands as Financial Partners GROUP (FPG)
Top Ten Leasing News
    July 27- July 31
I Can’t Remember…
    Cartoon
Six-Month Numbers, Categories End of June, 2020
    Commercial Equipment Leasing and Finance Associations
Leasing Industry Ads
     Help Wanted
Highlights from Marlin Business Services Corp.
      Q2 2020 Results - Seeking Alpha
North Mill Achieves New Record
    as July Originations Hit All-Time High
ELFA Webinar Takeaways: Adopting
    the Current Expected Credit Losses Accounting Standard
Mixed Breed
    Red Bank, New Jersey  Adopt-a-Dog
Your Dog Advisor
    Can Dogs Eat Fruit?
Pay Attention to That CTO Behind the Curtain
    Wednesday, August 5, 2020  10:00AM - 11:00AM PDT
News Briefs---
Birx warns US is 'in a new phase' of coronavirus pandemic
     with more widespread cases - Now in Rural Areas
With loan money gone, restaurants
     are at mercy of coronavirus
Ten bucks left, no place to go: How the pandemic and
    a broken unemployment system are upending people’s lives
Google's remote work extension could inspire
    more companies to enact permanent remote work policies
Postal Service backlog sparks worries
    that ballot delivery could be delayed in November
Trump's trashing of democracy
    will have consequences far beyond America
Charts: The Economic Impact of COVID-19
     in the U.S. So Far

You May have Missed---
Ronald Reagan's Final Speech as President
    Was on Immigration  (video)

Broker/Funder/Industry Lists | Features (wrilter's columns)
Top Ten Stories Chosen by Readers | Top Stories last six months

www.leasingcomplaints.com (Be Careful of Doing Business)
www.evergreenleasingnews.org
Leasing News Icon for Android Mobile Device


  Sports Brief----
   California Nuts Brief---
    "Gimme that Wine"
     This Day in History
      SuDoku
       Daily Puzzle
        GasBuddy
         Weather, USA or specific area
          Traffic Live----

######## surrounding the article denotes it is a “press release,” it was not written by Leasing News nor has the information been verified. The source noted. When an article is signed by the writer, it is considered a “byline.” It reflects the opinion and research of the writer.



[headlines]

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Financial Partners Corp (FPC) Restructures
and Rebrands as Financial Partners GROUP (FPG)

By Rob Noble, Financial Partners GROUP

 


Jeff LaLima, CEO/President, said, “I am happy to announce  the addition of Ascentium #1 sales rep SVP Josh Mabee and his top performing team. 

“We are very pleased to complete this merger and unite with Josh and his seasoned sales team. The expansion positions us as the highest volume originator in our niche vertical and brings the opportunity to expand into additional markets.

“In just under 5 years, Mabee and team were responsible for over $600 million in volume. Joining Mabee are Vice President Sales Brandon Hodge and Darryl Seskind, along with Operations Manager Melissa Scheu.” 

The company has undergone a restructure and rebrand as Financial Partners GROUP (FPG). Founder Jeff LaLima will remain as CEO/President with Josh Mabee stepping in as COO and Rob Noble as Executive Vice President from his current position as SVP Business Development. In addition to the rebrand and expansion, FPG has added a hard asset division led by industry Veteran George Atkins, also a top performer from Ascentium Capital. A new office has opened in Dover, New Hampshire to support the expansion in addition to the recently added corporate office in Red Bank, New Jersey. 

Under the new structure, FPG is expected to originate $300MM of volume in their first year. “We are really excited to join forces with Financial Partners, a proven industry leader and with our combined talent, bringing FPG to the next level” said Josh Mabee, newly appointed COO of Financial Partners GROUP.

Established in 2004, Financial Partners GROUP is a leading equipment finance company that delivers financial solutions for small/medium sized businesses and equipment manufacturers/distributors. Since its founding, FPG has provided over $1.25 billion in equipment & vendor financing. The company is headquartered in Red Bank, New Jersey and operates offices in South Carolina, California, Connecticut and New Hampshire.



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Top Ten Leasing News
July 27- July 31

(Stories most opened by readers)

(1) New York Follows California’s Lead
    By Passing Small Business Truth-in-Lending Act
      Written by Attorneys Robert Hornby, Frank Peretore#,
   Adrianne Price, Chiesa Shahinian & Giantomasi, PC http://leasingnews.org/archives/Jul2020/07_29.htm#ny

(2) New Hires/Promotions in the Leasing Business
  and Related Industries
http://leasingnews.org/archives/Jul2020/07_31.htm#hires

(3) If You Are Waiting for a Sign…
    Placard
http://leasingnews.org/archives/Jul2020/07_29.htm#placard

 (4) Story Credit Lessors and Lenders List for COVID-19
    "C" & "D" Lessees, Business Loans, Working Capital
http://leasingnews.org/archives/Jul2020/07_27.htm#story

(5) “I finally remember what Zoom Meetings
    reminds me of”  --Placard
http://leasingnews.org/archives/Jul2020/07_27.htm#placard*

(6) Pictures from the Past:
    Paul Menzel and Jim Merrilees. 1992
http://leasingnews.org/archives/Jul2020/07_31.htm#pictures

(7) Rapid Finance Resumes Funding
    Invites New Partners
http://leasingnews.org/archives/Jul2020/07_31.htm#rapid

(8) Raising the U.S. Flag at Amur Equipment Finance
    New Offices in Grand Island, Nebraska
http://leasingnews.org/archives/Jul2020/07_29.htm#raising

(9) Over 40% of U.S. Adults Are
    Susceptible to Severe Covid-19 – Chart
http://leasingnews.org/archives/Jul2020/07_29.htm#over

(10)  Marlin Business Services 2Q $5.9 Million Loss
    Compared to $11.8 Million Loss 1Q
http://leasingnews.org/archives/Jul2020/07_31.htm#marlin

 

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Six-Month Numbers/Categories  End of June 2020
Commercial Equipment Leasing and Finance Associations

The Equipment Leasing/Finance Association with the most growth in members in the United States is the American Association of Commercial Finance Brokers, formerly the National Association of Equipment Leasing Brokers. They have not only changed their name but are moving in a different direction with more funders and brokers. While the Equipment Leasing and Finance Association is the largest, with a large professional staff, they have more large companies as members, and offer many programs and information for their members. Their loss in members is primarily from
acquisitions and mergers.

It should be noted while the Association of Government Leasing and Finance has a high number, it is from their counting members, not companies.

"AGLF June 2020 Membership Numbers are:
7 Individuals
11 Limited
35 Basic Company Members with 112 total people
8 Leader Company Members with 226 total people

Total members of AGLF are 416."
https://www.aglf.org/

While not an association, the Certified Lease and Financial Foundation has grown under the director of its Executive Director Reid Raykovich. Credit also goes to an active board of directors during her term, as well as gaining the support and involvement of the Equipment Lease and Finance Association. Membership is now at 921.

Our neighbors to the north have a very active association. The Canadian Finance & Leasing Association has 204 member companies.

https://www.elfaonline.org/

https://www.aacfb.org/home

 

https://www.nefassociation.org/default.aspx

 

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Leasing Industry Help Wanted

 



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Highlights from Marlin Business Services Corp.
Q2 2020 Results - Seeking Alpha

 


Jeff Hilzinger, President, Chief Executive Officer

"During the second quarter, we continued to operate in a challenging and uncertain environment arising from the ongoing COVID-19 health crisis. Second quarter total sourced origination volume of $67.2 million was well below our year ago results. During the quarter, demand for financing by the small business community continued at the reduced levels we began experiencing in mid-March, driven by the challenges facing many industries from widespread quarantine orders implemented across the United States. Origination volume during the quarter was also impacted by lower approval rates stemming from tighter underwriting criteria that we implemented in late-March."

Page 1
 
"In terms of customer demand and our overall business activity, during the second quarter we processed approximately 40% of the equipment finance application volume as compared to a year ago and working capital loan applications were de minimis due to a combination of lower customer demand and reduced marketing activity during the quarter. These efforts notwithstanding, our portfolio did experience higher delinquencies and a significant increase in the allowance for credit losses during the quarter.

" As of the end of the second quarter, we received approximately 8,300 requests for payment deferrals that comprised $180 million of our portfolio. Of these requests, $133 million or nearly 75% have agreed to the deferral terms, 18% opted not to accept the deferral and continue to pay under their original obligation, but 7% totaling $13 million of our portfolio did not accept the deferral and are in various stages of delinquency. In addition, through Marlin Business Bank, we are a participating lender under the SBA's Paycheck Protection Program and originated a modest number of PPP loans totaling approximately $4 million in support of our customers. With each of these programs, our objective has been to provide liquidity to our customers to help them through the crisis to avoid future charge-offs."

page 2

"Early in the second quarter, we announced an employee furlough plan that began on April 13 and impacted approximately 120 of our colleagues. In mid-June and again in mid-July, we completed permanent reductions in our workforce that affected approximately 80 employees while returning approximately 40 employees from furlough to active status. From these actions, we expect to achieve annualized savings of $7 million to $9 million."

page 3


Lou Maslowe, Senior Vice President, Chief Risk Officer

"Looking at the restructures that had a first due date by the end of June as of July 24, approximately 24% of the equipment finance contracts and 5% of the working capital contracts had reached the 31-plus days delinquent bucket."

page 4


Mike Bogansky, Senior Vice President, Chief Financial Officer

"We recorded an $18.8 million provision for credit losses in the second quarter, compared with $4.8 million a year ago. In the coming quarters, we will continue to monitor and evaluate the economic environment, refine our outlook and update our loss reserves accordingly."

"The sequential quarter decrease was driven primarily by a 3% decline in average finance receivables due to greater portfolio runoff and the decline in origination activity. The year-over-year decrease was due to a 5% decline in average finance receivables as well as lower renewal and residual income resulting from a change in the presentation of this activity driven by the adoption of CECL."

Page 5

"Given the careful and prudent management of our liquidity and capital position, we believe that we can manage through the current crisis and absorb future losses, should they occur. During the first half of 2020, our capital has been reduced by approximately $34 million from our net loss, adoption of CECL and capital returns through share repurchases and dividends. Through the same period, our allowance for credit losses has increased by $34 million and book value per share stands at $15.16 as of June 30, 2020. We will continue to closely evaluate our capital position and potential liquidity requirements.

"Given the high degree of uncertainty surrounding the pandemic and the related impact on the U.S. economy, it is extremely difficult to predict the ultimate performance of our portfolio and resulting financial performance with a high degree of certainty. We have increased our allowance for credit losses, reduced operating expenses and diligently managed our capital and liquidity. Furthermore, we believe that the ultimate performance of the restructured loan portfolio will become clearer in the third quarter as the revised contractual payment become due.

"We are continuing to monitor the situation closely and intend to provide an update on our third quarter earnings conference call. In the meantime, we remain focused on our business fundamentals and weathering the crisis. I remain confident that we are well-positioned to withstand this crisis given the reserves that we have already built, our strong capital and liquidity position and our proactive management efforts."

Page 7

8 Page Earnings Call Transcript
https://seekingalpha.com/article/4362935-marlin-business-services-corp-mrln-ceo-jeff-hilzinger-on-q2-2020-results-earnings-call

8K  (16 pages)
http://leasingnews.org/PDF/marlin_72020.pdf


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#### Press Release #############################

North Mill Achieves New Record
as July Originations Hit All-Time High

NORWALK, CT – North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today that the company achieved an all-time high in loan and lease fundings in July. The record-breaking month saw funded volume reach nearly $18.5 million representing a growth rate of close to 24% over the same period last year. The company continues to ride a wave of success as just last month it reported record volume for the first half of 2020.


David C. Lee, Chairman and CEO, remarked, “Despite the many challenges imposed by the global pandemic, the team at North Mill has worked harder than ever to help meet the needs of our broker partners and their customers.

“All departments are operating on high octane as each has stepped up to join the effort. It is through ongoing collaboration, a staunch commitment to do the right thing, and a genuine desire to succeed that has pushed us to a place we have never been. I could not be prouder of this company and the people who make it great.”

As the company continues to diversify amongst equipment categories and stronger credit borrowers, weighted average FICO in July exceeded 715. Transportation, which made up nearly 100% of the firm’s asset portfolio a few years ago, now accounts for well under 50% of funded volume with heavy duty sleeper trucks being less than 10%. As the organization’s asset mix has expanded, so too has the number of referral agents interested in working with North Mill. Each month continues to see more applications processed from equipment finance brokers looking to establish a relationship.


Robert Fanelle was hired as a Broker Relationship Manager to accommodate additional growth. He will be reporting to Paul Cheslock, the company’s VP of Customer Relations. Mr. Fanelle’s prior work experience included managing brokers in a financial service setting which is especially salient given that North Mill generates new business solely through third-party referral agents. Mr. Fanelle began his career with Canon Financial Services as a dealer representative, eventually graduating to roles as branch manager for TD Bank in Oaklyn, NJ and for PNC Bank in Vorhees, NJ. In 2015 he joined Marlin Business Bank where he established and grew broker relationships. He is a graduate of the University of Delaware, with a BA in criminal justice

#### Press Release #############################

 


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#### Press Release #############################

ELFA Webinar Takeaways: Adopting
the Current Expected Credit Losses Accounting Standard

July 22 Discussion Provides Insights and Lessons Learned
 for Equipment Finance Companies

WASHINGTON, D.C. – The adoption by public companies of the Current Expected Credit Loss (CECL) accounting model ASC 326-20 has coincided with one of the most challenging economic environments seen in generations. After the first quarter of reporting, the Equipment Leasing and Finance Association’s July 22 webinar “CECL: A New Accounting Standard and a Challenging Credit Environment” provided a snapshot of what’s being observed from public companies’ implementation of the standard, and insights into the adoption process that will be helpful for the many equipment finance companies that have yet to adopt the standard. 

John Bober, Managing Member, IXL Lease Advisory Services, LLC and Chair of ELFA’s Financial Accounting Committee, moderated the session presented by Drew Banach, Senior Manager, Strategy and Transactions, EY LLP; Kyle Elken, Controller, DLL U.S.; and Joseph Soviero, Managing Director, Financial Accounting Advisory Services, EY LLP. The topics discussed included a CECL refresher, disclosure research, COVID-19 considerations and hot topics for lessors. 

As equipment finance companies navigate the adoption of the new CECL accounting standard, below are highlights addressed during the webinar.

The 2008 financial crisis revealed weaknesses in the previous accounting model for loan and lease losses. As a result, both the FASB and IASB undertook projects to revise accounting for credit losses which address the recognition, measurement, presentation and disclosure for most financial assets and certain other instruments. The three new or updated models for estimating credit losses are CECL (ASC 326-20), available-for-sale debt security impairment model (ASC 326-30), and model for certain beneficial interests classified as held-to-maturity or AFS that are not of high credit quality (ASC 325-40).

CECL has core concepts to apply toward recognizing credit losses. The CECL model has lessors and lenders reflect losses that are expected over the remaining contractual life of an asset even if that risk is remote. This is different than the prior model, which required recognition of incurred losses. Companies need to consider all available relevant information, including past events, current conditions and reasonable and supportable forecasts about the future.

CECL guidance requires a reasonable and supportable forecast of future economic conditions. The forecast is to be based on management’s forecast, not a market-consensus view. Therefore, it is important for entities to provide disclosures that allow users to understand management’s view of future economic conditions. This is even more important when management’s view differs from the consensus and when economic conditions are rapidly shifting, as they were in Q1 2020.

The CARES Act allows some financial institutions to defer the adoption of the new standard. The relief applies to insured depository institutions, bank holding companies, credit unions and their affiliates. These entities do not have to apply the new credit losses standard from March 27, 2020 until the earlier of the dates that the national emergency related to COVID-19 ends, or Dec. 31, 2020. The relief does not apply to any other types of companies and is not available for corporations or lessors that do not meet the banking/depository institution definition.

Bober noted that the FASB’s ultimate purpose of CECL was to accelerate and increase the amount companies would book for loan and lease losses. Understanding observations from public companies’ disclosures of their CECL adoption, accounting insights and recent developments can offer equipment finance companies guidance on their own implementations.

Learn More
A recording of the webinar and webinar slides are available at https://www.elfaonline.org/events/elearning/web-seminars/cecl-a-new-accounting-standard-and-a-challenging-credit-environment.

More Webinars to Come
The July 22 webinar was part of ELFA’s “Wednesday Webinar” series created to provide critical information to equipment finance professionals on essential hot topics. The free webinars include live Q&A sessions so participants can connect with experts and colleagues on the issues they are grappling with. To register for upcoming webinars or view recordings of past events, go to www.elfaonline.org/events/elearning/web-seminars

About ELFA
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the nearly $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org.

#### Press Release ###########################


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Mixed Breed
Red Bank, New Jersey
Adopt-a-Dog


Sugar

Female
1 Year Old
Black with White
40 Lbs.
Spayed
House-trained
Good with Dogs
Good with Cats
Shots Up to Date

My story: 

"Poor Sugar had a bit of a rough start- she was picked up as a stray with horrible wounds on her back leg most likely from another animal. They are probably nothing but scars now, and she is still a happy little girl. She seems to be a little shy around other dogs and curious about cats. She walks great on leash, even if she does still have a bit of puppy energy."

Home Free Animal Rescue
64 White Street
Red Bank, New Jersey 07701

Jennifer McFadden
email: homefreeanimalrescue@gmail.com
Website: www.homefreeanimalrescue.com

Adoption Application
https://docs.google.com/document/d/1foQrKJ5ggQb1tkZ8n5LyirY7VEVX3NGuS1P1SSyEAlw/edit

Go Meet Their Pets
We have many of our adoption events at PetSmart in West Long Branch, NJ as well as various other venues

Home Free Animal Rescue was founded:
1. To make pet adoption easier, more affordable and FUN!
2. To save the pets who are most in need and not necessarily the ones that are easily adoptable. We champion the black dogs and cats, plain brown wrappers, bully breeds, seniors, pregnant animals and others that would ordinarily be overlooked.
​Together, we can make a real difference!!

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Your Dog Advisor
Can Dogs Eat Fruit?

https://yourdogadvisor.com/can-dogs-eat-fruit/

 

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Wednesday, August 5, 2020  10:00AM - 11:00AM PDT

Open to Members of ELFA and Non-Members: Free

Smart business decisions include a direct alignment with technology and fusion of innovative thought. Service providers focused on the asset finance industry are building roadmaps that respond to the industry’s biggest needs in real time.

Join the ELFA Operations and Technology Committee and step into ‘Oz’ for a conversation with the CTOs helping to drive the industry forward. We’ll discuss some of the fundamental technologies and concepts that businesses today should consider for increasing efficiency, mitigating risk and delighting clients.


Denis Stypulkoski, Moderator
SVP, Chief Information Officer, Commercial Division
TIAA Bank


Jay Mehra
Co-Founder and Chief Technology Officer
Odessa


Philip Rieck
Chief Technology Officer, SVP
LTi Technology Solutions


David Woodroffe
Senior Vice President, Product Management – Risk, Credit and Lending
FIS

Brought to you by the ELFA Operations & Technology Committee.

Register:
 https://register.gotowebinar.com/register/2669713596588758797

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News Briefs----

Birx warns US is 'in a new phase' of coronavirus pandemic
     with more widespread cases - Now in Rural Areas
https://www.cnn.com/2020/08/02/politics/birx-coronavirus-new-phase-cnntv/index.html

With loan money gone, restaurants
     are at mercy of coronavirus
https://www.msn.com/en-us/news/us/with-loan-money-gone-restaurants-are-at-mercy-of-coronvirus/ar-BB17tzkR?li=BBnb7Kz

Ten bucks left, no place to go: How the pandemic and
    a broken unemployment system are upending people’s lives
https://www.washingtonpost.com/local/coronavirus-unemployment-delays-dc/2020/08/01/50016264-c522-11ea-8ffe-372be8d82298_story.html

Google's remote work extension could inspire
    more companies to enact permanent remote work policies
https://www.businessinsider.com/impacts-of-google-extending-remote-work-to-july-2021-2020-7

Postal Service backlog sparks worries
    that ballot delivery could be delayed in November
https://www.washingtonpost.com/politics/postal-service-backlog-sparks-worries-that-ballot-delivery-could-be-delayed-in-november/2020/07/30/c

Charts: The Economic Impact of COVID-19
     in the U.S. So Far
https://www.visualcapitalist.com/economic-impact-of-covid-h1-2020/



[headlines]
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You May Have Missed---

Ronald Reagan's Final Speech as President
    Was on Immigration  (video)

 


[headlines]
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Sports Briefs---

Pac-12 players threaten to sit out 2020 season
     over health concerns, medical coverage, racial injustice
https://www.cbssports.com/college-football/news/pac-12-players-threaten-to-sit-out-2020-season-over-health-concerns-medical-coverage-racial-injustice/

Inside the Giants' 'wildly successful' fan cutout program
https://www.sfgate.com/giants/article/Giants-cardboard-cutouts-fans-Oracle-Park-SF-MLB-15450174.php

NFL gives Antonio Brown 8-game suspension
     for violating personal conduct policy
https://www.espn.com/nfl/story/_/id/29572202/nfl-gives-antonio-brown-8-game-suspension-violating-personal-conduct-policy

 PGA Championship in San Francisco puts pros on our turf
https://www.pressdemocrat.com/article/sports/nevius-pga-championship-in-san-francisco-puts-pros-on-our-turf/

Pac-12 football players say they won't play
      until COVID concerns addressed
https://www.sfgate.com/collegesports/article/Pac-12-football-players-urge-opt-out-amid-15452539.php

West Coast college kids stand up to Big Football
https://www.sfchronicle.com/sports/ostler/article/West-Coast-college-kids-stand-up-to-Big-Football-15453062.php

Lions WR Geronimo Allison opts out
http://www.theredzone.org/Blog-Description/EntryId/82815/Lions-WR-Geronimo-Allison-opts-out


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California Nuts Briefs---

How a group of SF volunteers helped generate
      nearly $50,000 for North Beach restaurants
https://www.sfgate.com/food/article/North-Beach-Delivers-SF-volunteers-restaurants-15449164.php

Empty towers. Quiet streets. Struggling cafes.
     Will downtown San Francisco ever boom again?
https://www.sfchronicle.com/business/article/Downtown-San-Francisco-coronavirus-pandemic-15450388.php


[headlines]

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“Gimme that Wine”

http://www.youtube.com/watch?v=EJnQoi8DSE8

2020 Direct-to-Customer Wine Shipping Mid-Year Report
https://www.sovos.com/shipcompliant/blog/2020/07/30/2020-dtc-wine-shipping-mid-year-report/

French Researchers Unlock a Secret to Wine Bitterness: Oak Barrels
https://www.winespectator.com/articles/french-researchers-unlock-a-secret-to-wine-bitterness-oak-barrels-unfiltered

Even Berkeley’s Chez Panisse is doing takeout sandwiches now
https://www.pressdemocrat.com/article/news/even-berkeleys-chez-panisse-is-doing-takeout-sandwiches-now/

Champagne losing its fizz as global pandemic clobbers sales
https://www.sfgate.com/news/article/Champagne-losing-its-fizz-as-global-pandemic-15448140.php

Chardonnay wins North Coast Wine Challenge
https://www.pressdemocrat.com/article/lifestyle/chardonnay-wins-north-coast-wine-challenge/

 CEO Of Artificial Intelligence Company
     Buys Historic Napa Valley Winery
https://www.forbes.com/sites/cathrinetodd/2020/08/01/former-ceo-of-artificial-intelligence-company-buys-historic-napa-valley-winery/#592b561d56f8


Free Wine App
https://www.nataliemaclean.com/mobileapp/

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

[headlines]
----------------------------------------------------------------

This Day in History

    1492 - Christopher Columbus set sail a half-hour before sunrise from the harbor of Palos, Spain. With three ships, Nina, Pinta and Santa Maria, and a crew of 90, he sailed “for Cathay” but found instead a New World of the Americas, first landing at Guanahani (San Salvador Island in the Bahamas) on October 12. He returned 224 days later, on March 14, 1493, to Lisbon, where he dispatched two letters of identical content, one to Raphael Sanchez and the other to Luis de Santangel, to describe the new world he had discovered. While he never set foot on the mainland of the United States or even called it America, he described what he thought were
islands of China. He was to return to the area three more times. During his fourth and final expedition (1502-1504) Columbus, whose Italian name was Cristo Columbo, discovered Martinique, and explored the coasts of present-day Honduras, Nicaragua, Costa Rica, and Panama.
(lower part of http://memory.loc.gov/ammem/today/aug03.html )
    1492 - The first letter containing a description of America was probably written by the explorer Christopher Columbus. He dispatched two letters of identical content, one to Raphael Sanchez and the other to Luis De Santangel. The first use of the word “America” came from German mapmaker Martin H. Waldessmuller, who named the new land in a map in the honor of Italian explorer Amerigo Verspucci of his discoveries in South America. Other map makers took copies his maps
and names, including “America.”
    1610 - Henry Hudson of England discovers a great bay on the east coast of Canada and names it for himself.
    1678 – Robert LaSalle built the “Le Griffon,” the first known ship to be built on the Great Lakes.  “Le Griffon” was constructed and launched at or near Cayuga Creek on the Niagara River as a seven-cannon, 45-ton sailing ship that LaSalle hoped would take him to the Northwest passage to Japan and China.
    1795 -  The Treaty of Greenville was signed at Fort Greenville, now Greenville, OH.  It followed negotiations after the Native American loss at the Battle of Fallen Timbers a year earlier. It ended the Northwest Indian war in Ohio Country and limited strategic parcels of land to the north and west. The parties to the treaty were a coalition of Native American tribes, known as the Western Confederacy, and US government represented by General Anthony Wayne for local frontiersman. The treaty is considered the beginning of modern Ohio history.
    1804 - US Commodore Edward Prebble's squadron bombarded Tripoli, inflicting heavy damages on the city though this engagement would be indecisive. In the late summer of 1804, President Thomas Jefferson sent Preble and Captain Stephen Decatur with the Constitution, three brigs, three schooners, two bombs and six gunboats, manned by only 1,060 men to attack Tripoli. That Moorish city, at that time, was well walled, protected by judiciously constructed batteries mounting 115 pieces of heavy cannon, and defended by 25,000 Arabs and Turks. Besides, the harbor was encircled by 19 Moorish gunboats, two gallies, two schooners of eight guns each and a brig carrying 10 guns, forming a strong line of defense at secured moorings and extending more than two miles in length. Although energetically executed, Preble's attacks highlighted the difficulty of winning with bombardment. First, he had no intelligence on how the defenders were holding up under the attacks. More fundamentally, lacking any ground force to put ashore and compel capitulation, Preble had to hope that the enemy would decide to give in rather than endure. (My son Dash is a plank holder of the USS Prebble, named after the Commodore.) 
    1811 – Elisha Otis (d. 1861) was born in Halifax, VT.  Founder of the Otis Elevator Company and inventor of a safety device that prevents elevators from falling if the hoisting cable fails.  The 1854 New York World’s Fair offered a great chance at publicity.  Otis amazed a crowd when he ordered the only rope holding the platform on which he was standing cut.  The rope was severed by an axeman, and the platform fell only a few inches before coming to a halt. After the World's Fair, Otis received continuous orders, doubling each year. He developed different types of engines, like a three-way steam valve engine, which could transition the elevator between up to down and stop it rapidly.
    1852 – In the first US intercollegiate event in any sport, Harvard beat Yale in a boat race.
    1882 - Congress passes the Immigration Act, banning Chinese immigration for ten years.
    1900 - Ernie Pyle (d. 1945) was born at Dana, MN, and began his career in journalism in 1923. After serving as managing editor of the Washington Daily News, he returned to his first journalistic love of working as a roving reporter in 1935. His column was syndicated by nearly 200 newspapers and often focused on figures behind the news. His reports of the bombing of London in 1940 and subsequent reports from Africa, Sicily, Italy and France earned him a Pulitzer Prize in 1944. He was killed by machine-gun fire at the Pacific island of le Shima, Apr 18, 1945.
    1900 - Central figure in a cause célèbre (the “Scopes Trial” or the “Monkey Trial”), John Thomas Scopes (d. 1970) was born at Paducah, KY. An obscure 24-year-old schoolteacher at the Dayton, TN, high school in 1925, he became the focus of world attention. Scopes never uttered a word at his trial, which was a contest between two of America’s best-known lawyers, William Jennings Bryan and Clarence Darrow. The trial, July 10—21, 1925, resulted in Scopes’ conviction. He was fined $100 “for teaching evolution” in Tennessee. The verdict was upset on a technicality and the statute he was accused of breaching was repealed in 1967.
    1900 – The Firestone Tire & Rubber Company was founded.
    1904 - Use of “American” as an adjective instead of “United States” was officially recommended by John Hay, secretary of state, who instructed American diplomatic and consular officers to adopt it.
    1907 – Federal Judge Kenesaw Mountain Landis fined Standard Oil of Indiana a record $29.4 million for illegal rebating to freight carriers; the conviction and fine were later reversed on appeal.  Landis issued a subpoena for Standard Oil CEO John D. Rockefeller to testify as to Standard Oil's assets. The tycoon had often evaded subpoenas, not having testified in court since 1888.  US Marshals visited Rockefeller's several homes, as well as the estates of his friends, in the hope of finding him. After several days, Rockefeller was found at his lawyer's estate in northwestern Massachusetts and was served with the subpoena.  The tycoon duly came to Landis' Chicago courtroom, making his way through a mob anxious to see the proceedings. Rockefeller's actual testimony, proffered after the judge made him wait through several cases and witnesses, proved to be anticlimactic, as he professed almost no knowledge of Standard Oil's corporate structure or assets.  According to Landis biographer David Pietrusza, "much of the nation could hardly believe a federal judge had finally cracked down on a trust—and cracked down hard."  The verdict and sentence were reversed by the US Court of Appeals on July 22, 1908.  In January 1909, the US Supreme Court refused to hear the case and, in a new trial before another judge (Landis recused himself), Standard Oil was acquitted. 
    1911 - Danish woodcarver Charles Looff delivered the classic carousel to the Santa Cruz Beach Boardwalk, California. A furniture-maker by trade, Looff began carving carousel animals as a hobby after immigrating to America. His first carousel was installed at Coney Island in New York in 1875. The Boardwalk carousel features jeweled horses and a 342-pipe Ruth band organ built in 1894. The carousel and the park’s Giant Dipper roller coaster were designated National Historic Landmarks by the US National Parks Service.  Wikipedia lists 47 carousels created by Looff, all across the US.
    1921 – Major League Baseball Commissioner Kenesaw Mountain Landis banned the eight Chicago Black Sox, the day after they were acquitted by a Chicago court.  Landis: “Regardless of the verdict of juries, no player who throws a ball game, no player who undertakes or promises to throw a ball game, no player who sits in confidence with a bunch of crooked ballplayers and gamblers, where the ways and means of throwing a game are discussed and does not promptly tell his club about it, will ever play professional baseball.”  The Commissioner took the line that while the players had been acquitted in court, there was no dispute they had broken the rules of baseball, and none of them could ever be allowed back in the game if it were to regain the trust of the public. Comiskey supported Landis by giving the seven who remained under contract to the White Sox their unconditional releases. Those banned were:  Pitcher Eddie Cicotte, CF Happy Felsch, 1B Chick Gandl, LF Shoeless Joe Jackson, IF Freddy McMullin, SS Swede Risberg, 3B Buck Weaver, P Lefty Williams.  Also banned was Joe Gedeon, second baseman of the St. Louis Browns. Gedeon placed bets since he learned of the fix from Risberg, a friend of his. He informed Comiskey of the fix after the Series in an effort to gain a reward. He was banned for life by Landis along with the eight White Sox.
    1923 - Calvin Coolidge was sworn in as the 30th president of the United States, following the death of Warren G. Harding. It took several hours for the news of President Warren G. Harding's death in California to reach the small town of Plymouth, Vermont, where he was enjoying a short vacation, but by 2 a.m., Coolidge was told that Harding was dead. Traditionally, the president is sworn in by the chief justice of the Supreme Court--but he slept 500 miles away. At 2:30 a.m. on August 3, 1923, Coolidge's father, a notary public, administered the oath of office to his son by the light of a kerosene lamp.
http://memory.loc.gov/ammem/today/aug03.html
    1925 – Marv Levy, the only NFL coach to take his team to four consecutive Super Bowls, was born in Chicago.  He served as head coach in the Canadian Football League for the Montreal Alouettes (1973–1977) and in the NFL for the Kansas City Chiefs (1978–1982) and the Buffalo Bills (1986–1997), coaching the Bills to four consecutive AFC championships and those Super Bowls (1990-93). He was elected to the Pro Football Hall of Fame in 2001.
    1926 - Tony Bennett was born Anthony Dominick Benedetto in Astoria, Queens, NY.  As a teen, he was a teammate in sandlot baseball of Yankees Hall of Famer Whitey Ford.  After serving in the Army during the final year of World War II, Benedetto studied at the American Theater Wing where he was taught the bel canto singing discipline, which would keep his voice in good shape for his entire career.  He was discovered by Pearl Bailey who introduced him to Bob Hope who took him on the road and Americanized his name.  His first big hit was "Because of You," a ballad that started out gaining popularity on jukeboxes, then reached number one on the pop charts in 1951 and stayed there for ten weeks, selling over a million copies.  This was followed to the top of the charts later that year by a similarly-styled rendition of “Cold, Cold Heart," and the third number-one came in 1953 with "Rags to Riches” which topped the charts for eight weeks.  Later that year, the producers of the upcoming Broadway musical “Kismet” had Bennett record "Stranger in Paradise" as a way of promoting the show during a New York newspaper strike.  The song reached the top, the show was a hit, and Bennett began a long practice of recording show tunes.  "Stranger in Paradise" was also a number-one hit in the UK a year and a half later and started Bennett's career as an international artist. Also in 1962, Bennett released his recording of "I Left My Heart in San Francisco.”  Although this reached only number 19 on the Billboard Hot 100, it spent close to a year on various other charts and increased Bennett's exposure. The album of the same title was a top 5 hit and both the single and album achieved gold record status, winning Grammy awards for Record of the Year and Best Male Solo Vocal Performance. Over the years, this would become known as Bennett's signature song.  In 2001, it was ranked 23rd on an RIAA/NEA list of the most historically significant Songs of the 20th Century.  He remains an active performer.  Bennett has sold over 50 million records worldwide.  "For my money, Tony Bennett is the best singer in the business. He excites me when I watch him. He moves me. He's the singer who gets across what the composer has in mind and probably a little more." – Frank Sinatra, 1965.
http://www.jazzdiscography.com/Artists/Bennett/
http://www.tony-bennett.com/newsFr.html
http://www.tonybennettart.com/index2.html
    1936 – Jesse Owens won the 100-meter dash at the 1936 Summer Olympics in Berlin.  Owens went on to win three other gold medals.  He was the most successful athlete at the games and as such has been credited with "single-handedly crush[ing] Hitler’s myth of Aryan supremacy.
    1944 - WITEK, FRANK PETER, Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps Reserve. Born: December 1921, Derby, Conn. Accredited to: Illinois. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving with the 1st Battalion, 9th Marines, 3d Marine Division, during the Battle of Finegayen at Guam, Marianas, on 3 August 1944. When his rifle platoon was halted by heavy surprise fire from well-camouflaged enemy positions, Pfc. Witek daringly remained standing to fire a full magazine from his automatic at point-blank range into a depression housing Japanese troops, killing 8 of the enemy and enabling the greater part of his platoon to take cover. During his platoon's withdrawal for consolidation of lines, he remained to safeguard a severely wounded comrade, courageously returning the enemy's fire until the arrival of stretcher bearers, and then covering the evacuation by sustained fire as he moved backward toward his own lines. With his platoon again pinned down by a hostile machinegun, Pfc. Witek, on his own initiative, moved forward boldly to the reinforcing tanks and infantry, alternately throwing hand grenades and firing as he advanced to within 5 to 10 yards of the enemy position, and destroying the hostile machinegun emplacement and an additional 8 Japanese before he himself was struck down by an enemy rifleman. His valiant and inspiring action effectively reduced the enemy's firepower, thereby enabling his platoon to attain its objective, and reflects the highest credit upon Pfc. Witek and the U.S. Naval Service. He gallantly gave his life for his country
    1945 - An American communiqué announces that US B-29 Superfortress bombers dropping mines over Japan have now sealed off all of the main ports, leaving the country totally blockaded. In a report by the US 20th Air Force, it is noted that every harbor of consequence in Japan and all those in Korea have been mined and it is estimated that hundreds of thousands of tons of shipping have been sunk or damaged since the mining program began in March. 
    1946 - Top Hits
“The Gypsy” - The Ink Spots
“Doin’ What Comes Naturally” - Dinah Shore
“They Say It’s Wonderful” - Frank Sinatra
“New Spanish Two Step” - Bob Wills
    1946 – Santa Claus Land, the world's first themed amusement park, opened in Santa Claus, IN.
    1948 - Before 72,434 in Cleveland, ancient (42 year-old) Negro Leaguer Leroy “Satchel” Paige made his Major League starting debut, pitching seven innings against the Washington Senators before being relieved. Paige picked up the win, 5-3, which moved the Indians (56-38) into a four-way tie for first on the way to the 1948 AL pennant and World Series championship.  He went 6-1 with a 2.48 ERA in 1948 and has been cited as a key contributor to that pennant.
    1949 – The Basketball Association of America and the National Basketball League merged to form the National Basketball Association.
    1950 - Eight Corsairs of VMF-214, the famed "Black Sheep" squadron of World War II, led by squadron executive officer, Major Robert P. Keller, launched from the USS SICILY and executed the first Marine aviation mission in the Korean War in a raid against enemy installations near Inchon. After the F4Us delivered their incendiary bombs and rockets on their targets, the Marines concluded their greeting to the Communist troops with a series of strafing runs 
    1954 - For that time, a record divorce settlement was awarded to Mrs. Barbara (Bobo) Rockefeller when her ex, Winthrop Rockefeller, was ordered to pay her $5,500,000. 
    1954 - Top Hits
“Sh-Boom” - The Crewcuts
“The Little Shoemaker” - The Gaylords
“Hey There” - Rosemary Clooney
One by One - Kitty Wells & Red Foley
    1958 - The submarine USS Nautilus began the first crossing of the Arctic Ocean under the polar ice cap. With a crew of 116 men, the Nautilus was commanded by William R. Anderson. The Nautilus was the world's first nuclear powered submarine. 
    1959 - "A Big Hunk of Love" becomes Elvis Presley's fourteenth straight Gold record. 
    1959 - Folk group The Kingston Trio is featured on the cover of Life magazine. 
    1959 - For the first time in Major League history, a second All-Star Game was played in the same season. The AL took a 5-3 victory at the Los Angeles Coliseum as the White Sox’s Nellie Fox singled in the decisive run.
    1962 - Top Hits
“Roses are Red” - Bobby Vinton
“The Wah Watusi” - The Orlons
“Sealed with a Kiss” - Brian Hyland
“Wolverton Mountain” - Claude King
    1963 - The College Football All-Stars beat the NFL Champion Green Bay Packers 20-17. It was a huge upset as the college team had been underdogs with odds of 50-1. 
    1963 - The Beatles appeared at The Cavern Club in Liverpool for the very last time. They had performed 274 concerts at the dingy, basement club since their debut there 2½ years earlier. Their first gig paid them £5 ($14) and their last brought in £300 ($840). 
    1963 - Capitol Records released The Beach Boys’ song, "Surfer Girl." It became one of their biggest hits, making it to number seven on the hit music charts on September 14, 1963. 
    1963 - Warner Brothers Records released comedian Allan Sherman’s summer camp parody, "Hello Mudduh, Hello Fadduh! (A Letter from Camp)." The song would go to number two on the pop charts on August 14, 1963
    1963 - The Tymes' "So Much In Love" hits #1
    1965 - No. 1 Billboard Pop Hit: “I'm Henry VIII, I Am,'' Herman's Hermits. The song was written in 1911 by Fred Murray and R.P. Weston and was popularized at the time by Cockney comedian Harry Champion. 
    1965 - CBS-TV news shows pictures of men from the First Battalion, Ninth Marines setting fire to huts in the village of Cam Na, six miles west of Da Nang, despite reports that the Viet Cong had already fled the area. The film report sparked indignation and condemnation of the U.S. policy in Vietnam both at home and overseas. At the same time, the Department of Defense announced that it was increasing the monthly draft call from 17,000 in August to 27,400 in September and 36,000 in October. It also announced that the Navy would require 4,600 draftees, the first such action since 1956.
    1966 - Lenny Bruce, 40, dies of a morphine overdose in his Hollywood, California bathroom. A tragic end to a mercurial comic/satiric genius. His death affected many in the Underground. The Bruce was an important influence on the Diggers with his searing commentaries that exposed social hypocrisy. Bruce had performed recently at the Fillmore. “Lenny” (1974) DVD Film with Dustin Hoffman, “The Lenny Bruce Performance” film DVD, “How to Talk Dirty and Influence People” by Lenny Bruce
    1967 - President Lyndon B. Johnson announces plans to send 45,000 more troops to Vietnam.
    1967 – On the way to the “Impossible Dream” season that would send them to the World Series, the Red Sox acquired Elston Howard from the Yankees in exchange for two minor leaguers.  Oddly, the Red Sox were the last team in the Majors to play an African-American and Howard was the first African-American to play for the Yanks.  Many credited Howard with stabilizing and nurturing the Sox’ young staff that took them to the Series.  Earlier in the 1967 season, Red Sox rookie Bill Rohr was pitching a no-hitter against the Yankees at the Stadium when Howard broke it up with a single in the 8th inning.
    1968 - "Hello, I Love You," recorded by The Doors, jumped into the top spot on Billboard's hit record charts, and stayed there for 2 weeks.
    1969 – The Everly Brothers headlined Fillmore West show, SF. Hear this performance free courtesy of Wolfgang's Vault. Once registered for free @ Wolfgang's Vault you are welcome to listen to the many rare, never-before-heard recordings of live concerts featuring Janis Joplin, Jimi Hendrix, Led Zeppelin, Quicksilver Messenger and much more.
http://www.wolfgangsvault.com/everly-brothers/concerts/fillmore-west-august-03-1969.html
    1970 - Hurricane Celia struck the coast of Texas producing wind gusts to 161 mph at Corpus Christi, and estimated wind gusts of 180 mph at Arkansas Pass. The hurricane was the most destructive of record along the Texas coast causing $454 million damage, and also claimed eleven lives
    1970 - Top Hits 
“(They Long to Be) Close to You” - Carpenters
“Make It with You” - Bread
“Signed, Sealed, Delivered I’m Yours” - Stevie Wonder
“Wonder Could I Live There Anymore” - Charley Pride
    1971 - Paul McCartney announces the formation of Wings, his first band since the breakup of the Beatles. It features ex-Moody Blues singer Denny Laine and Paul's wife Linda.
    1971 - Ringo Starr receives a gold record for "It Don't Come Easy." He wrote the tune himself.
    1974 - Bad Company's Bad Company LP hits #1
    1975 - No. 1 Billboard Pop Hit: “Jive Talkin','' The Bee Gees.
    1977 – Tandy Corporation announced the TRS-80, one of the world's first mass-produced personal computers.  By 1979, the TRS-80 had the largest selection of software in the microcomputer market.  Until 1982, the TRS-80 was the best-selling PC line, outselling the Apple II series by a factor of 5 according to one analysis.
    1977 – QB Tom Brady was born in San Mateo, CA.  Arguably the NFL’s greatest QB when measured by Super Bowl wins, Brady has been the Patriots’ signal caller in a record 9 Super Bowls.  He holds the NFL record for most Super Bowl wins, 6.  In two of the three Super Bowls the Patriots lost, Brady left with the lead only to see the opposition New York Giants win, both in the waning minutes.  Brady has been honored with four Super Bowl MVP awards, the most ever by a single player, has won three league MVP awards, has been selected to 13 Pro Bowls, and has led his team to more division titles (17) than any other quarterback in NFL history. As of the end of the 2017 regular season, Brady is fourth all-time in total career passing yards, tied for third in career TD passes, and third in career passer rating. His career postseason record is 30-11, winning more playoff games than any other quarterback, and he has appeared in more playoff games than any player at any position. Brady has never had a losing season as a starting quarterback in the NFL. His combined regular-season and postseason wins are also the most of any QB in NFL history.  After the 2019 season, Brady became a free agent and signed with the Tampa Bay Buccaneers. 
    1978 - Top Hits
“Shadow Dancing” - Andy Gibb
“Baker Street” - Gerry Rafferty
“Miss You” - The Rolling Stones
“Only One Love in My Life” - Ronnie Milsap
    1979 - "Tonight Show" host Johnny Carson, appeared on the cover of the Burbank, California telephone directory. 
    1979 - The Knack hit the top of both the album and singles charts, with their LP, "Get The Knack" and the single, "My Sharona."
    1979 - Jai-alai player Jose Ramon Areitio threw the fastest ball ever recorded at a speed of 188 mph (301 kph). Jai-alai is a sport that originated in the Basque region of Spain and France, and it consists of throwing a ball with a long, curved basket against a wall. 
    1981 - United States air traffic controllers went on strike, despite a warning from President Ronald Reagan that they would be fired, which they were.
    1984 - At the 1984 Olympics held in Los Angeles, American Mary Lou Retton won gold in all-around gymnastics. 
    1985 - Mail service was reinstated to Paradise Lake, Florida, a nudist colony, after residents promised they would wear clothes or at least stay out of sight when the mailperson came to deliver. 
    1985 - Bruce Springsteen's "Glory Days" peaks at #5 on the chart, while Sting's "If You Love Somebody Set Them Free" peaks at #3
    1986 - Top Hits
“Glory of Love” - Peter Cetera
“Papa Don’t Preach” - Madonna
“Mad About You” - Belinda Carlisle
“Nobody in His Right Mind Would’ve Left Her” - George Strait
    1987 - Joe Niekro got a 10-day suspension for throwing scuffed baseballs. At first, he denied the charge made by the home plate umpire but changed his tune when an emery board fell out of his pocket during an inspection. 
    1987 - The Iran-Contra congressional hearings ended, with none of the 29 witnesses tying President Ronald Reagan directly to the diversion of arms-sales profits to Nicaraguan rebels.
    1987 - Def Leppard releases their "Hysteria" LP.
    1988 - Steve Winwood's "Roll With It" hits #1 on the chart. Billboard ranks this the top song of the year.
    1989 - Thunderstorms representing what remained of Hurricane Chantal drenched Wichita, KS, with 2.20 inches of rain in four hours during the early morning. Thunderstorms developing in Minnesota produced wind gusts to 85 mph at Baudette during the afternoon, and softball size hail at Lake Kabetogama, during the evening. Jamestown, ND, reported a record hot afternoon high of 103 degrees
    1992 – The Los Angeles Dodgers recorded their 3,000th win since moving from Brooklyn.  After winning one World Series in Brooklyn in 1955, the LA Dodgers have won 5 with 21 playoff appearances.
    1993 - Boston Ventures, the group to whom Berry Gordy had sold Motown in 1988 for $61 million, sells the label and its holdings to Dutch conglomerate Polygram for $325 million.
    2002 - In just the first four innings, Edgar Martinez ties the Major League record for sacrifice flies in a game with three. The Mariners' designated hitter becomes the 11th player in history to accomplish the feat doing it in his first three at-bats in Seattle's 12-4 victory over the Indians.
    2004 – The pedestal of the Statue of Liberty re-opened for the first time after the September 11 attacks.
    2006 - The 715th home run ball hit by Barry Bonds to pass Babe Ruth for second place on the all-time career list fetches $220,100 during a 10-day eBay auction. The money, which will go to Andrew Morbitzer, the fan who caught the ball, is much less than the $800,000 dished out in 2004 for the ball the Giants left fielder's hit for his 700th career homer.
    2015 – President Obama proposed “The Clean Power Plan” to reduce carbon dioxide emissions by 32% from 2002 levels.  The plan is more stringent than the 30% proposed by the EPA.  The Clean Power Plan was one of the first major global initiatives to curb internal greenhouse gas emissions. Since the plan was established in 2014, there have been various global efforts made to decrease toxic particulate matter emissions by other developed nations.  The Paris Agreement was agreed upon in October 2016 and entered into force in November 2016. The Paris Agreement aims to combat global climate change by keeping a global temperature rise this century well below 2 degrees Celsius and to pursue efforts to limit the temperature increase even further to 1.5 degrees Celsius.  In order to enact the plan, 194 UNFCCC member nations have signed the treaty, 172 of which have ratified it.  President Trump's proposed 2018 federal budget defunded the Clean Power Plan.   On March 28, 2017, President Trump signed an executive order directing the EPA to review the Clean Power Plan.  On June 1, 2017, Donald Trump announced the US withdrawal from the Paris Agreement, but a number of U.S. states formed the US Climate Alliance to maintain within state borders the objectives of the Clean Power Plan separately from the federal government.  In May 2019, Administrator Andrew Wheeler announced plans to change the way the EPA calculates health risks of air pollution, resulting in the reporting of far fewer health-related deaths and making it easier to roll back the Clean Power Plan. The Trump administration has argued that the Obama administration over-estimated the health risks for various environmental regulations, to the detriment of industry. Administrator Wheeler defended the change as a way to rectify inconsistencies in the current cost-benefit analyses used by the agency. The new plan will be known as the Affordable Clean Energy (ACE) rule. The planned changes were hailed by industry representatives.  Environmentalists are fighting the administration's power plant regulation rollbacks. In April 2020, several environmental groups and twenty-two states filed their first legal briefs in an attempt to fight the administration's attempt to loosen emission standards. Environmentalists are concerned that the new ACE standards are so limited in the pollution controls it requires power producers to install that it could hamstring future administrations from addressing climate-altering pollution.

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- Balboa Capital Opens Broker Division
  Hires Viki Shamus to Run It
- OnDeck Reports Q1 Net Loss of $59M
- Marlin Sends out Press Release Net Loss $11.8M 1st Quarter
   Credit Losses $52.1 Million, $30.4 million Increase from 12/31/2019
- Pawnee Announcement of Suspension
- Readers React to Pawnee Leasing Corporation
  Temporary Suspension of Originations
- Pictures from the Past -    1995
- Henry Schein Enhances Liquidity Position
    With New Credit Facility Totaling $700 Million
- North Mill Implements Procedural Enhancements in 2020
- Malwarebytes Unveils New Privacy VPN Service
- NewLane Finance Open for Business
   and Committed to Helping Customers Impacted by COVID-19
- Do You Really Want to be a PPP Broker?
   The Requirements Needed for Approval
    PPP Loans What the Lender Makes/What the Broker Makes
- Developing New Business Challenges
    in a Pandemic Marketplace
- The Saga of Furloughs in Our Industry
     With Restaurants, Manufacturing, Copiers, Trucks, Not Selling
- Dr. Anthony S. Fauci Salutation
- Excellent Short Video: Key SVP Shawn Arnone
    shares tips for successful vendor finance relationships
- Leasing Icon Paul J. Menzel, CLFP, Takes “Early” Retirement
- Paul Menzel, CLFP, Now Retired But Still Wants to Keep Active
- CLFP Foundation Adds 19 New CLFPs Bringing total to 919
- Small Four Branch Bank Fails in West Virginia
    Problem Loans Seem to be the Main Reason
- Marlin Business Services Files Revealing 8-K
     "Operating Under COVID-19 Pandemic”
- California Restaurants say 30,000 to Close
- “In the middle of every difficulty lay opportunity”
   Kris Roglieri, National Alliance of Commercial Loan Brokers
- Latest Update on Rosanne Wilson, CLFP
   In Recovery, Not out of Rehab
- Leasing Readers Communicate What is Going On
- Open Letter to  Loan Brokers and Originators
- California DBO Continues to Seek Comments
 on SB 1235
- Readers Not Getting the Idea about Virtual Private Network
    Spoke to Presidents of Leasing Companies and Bankers
- Email from Phil Dushey, Global Financial Services
   About New York City
- Managing Credit in a Time of Crisis
   Three Major Points
- Merchant Cash Deals in Trouble?
   Off the Record Comments
- History of Pandemics with Timeline
- Marlin Business Services 10-K Report
   Year-end December 31, 2019 (highlights plus full report)
- Is the Longest Growth Cycle in U.S. History About to End
- Leasing and Finance Companies Meeting Announcements
  (Closed, Open, or Postponed)
- "Flattening the Curve"
   Controlling the Spread of Coronavirus
- Kote Flosse, Twitter: Correction. He Resigned
   In Three Executives No Longer at Currency
- ELFA Launches “Equipment Finance Matters” Podcast
  Open to Members and Non-Members
- GreatAmerica Financial Services Submits
   Industrial Bank Application to FDIC
- No Word if Tom Depping of Ascentium Capital is Retiring
    By Christopher Menkin
- Rumor Tom Depping to Retire before End of Year
    Regions Bank Deal to Complete by End of Second Quarter
- CLFP Foundation Adds 43 New CLFPs Brings Active Professionals to 902
- CLFP Company Membership Count Two Employees or More
- Ascentium Capital to be Acquired by Regions Bank
- Balboa Capital and Ascentium Duke it Out
   In April 11, 2018 Case over Millions of Dollars
- Orion First Surpasses $2 Billion Under Management Continues to Perform
- FDIC-Insured Institutions Reported Net Income
  of $55.2 Billion in Fourth Quarter 2019
- Balboa Capital File Against Dismissal
    of Ascentium Capital in MHT Case in Texas
- Legislation Requiring Truth-in Lending-Type Disclosures
 by Small Business Lenders and Brokers Re-Introduced in New Jersey
- Leasing Icon Bernard D. Boettigheimer Passes Away
   Son John Sends Announcement of Visitation/Service
- Too Many Press Releases Funding Re:
  Troubled Trucking Industry  by Dale R. Kluga
- Navitas Credit Introduces Financing Portal
  To Generate New Leads for Brokers/3rd Party Originators
- Balboa Capital to File Tuesday Against Dismissal
   of Ascentium Capital in MHT Case, Reliable Source Reports
- Ascentium Capital Cleared of Charges in Disclosure
    to Balboa Capital MHT Regarding Claim
- Marlin Business Services Corp. (MRLN) on Q4 2019 Results
   11-Page Earnings Call Transcript, Seeking Alpha Highlights
- New Jersey Enters Commercial Disclosure Rates Law
   as California Wraps Up Questionnaire on Its Procedures
- CLFP Foundation Adds 35 New CLFPs
  Plus First CLFP in India, Bringing Year-End Total 860
- The 5 Real Reasons You Didn't Get Hired
- Bode Turns 14 Years Old Vice-President, Leasing News, Inc.
- Under all the positive news, why is Amur Equipment
   Finance quiet about a relationship with PIMCO?
- California DBO Proposes Moving Financing Law Licensees
    onto NMLS Licensing Platform
- Under all the positive news, why is Amur Equipment
     Finance quiet about a relationship with PIMCO?
- Fees in Leasing Explained
- Further Confirmation PIMCO Purchased Amur But Company Continues to Deny
- Fire and fraud: The mystery of a small Texas bank
     that became the nation's first failure in years
- DBO Licensee Notifications Required by Law
- California Financing Law: Main Page for CFL License
- Don’t Get Caught Doing Business in California
   If You Are Required to Have a License or Don’t File Annual Report
- Amur Equipment Finance Acquired by Pimco’s Private Equity Group?
- NewLane Finance Takes a New Lane
   By Christopher Menkin, Editor
- 5 Things the Finance World Can Learn From Marketers
- "We’re still getting residuals from a company 14 years later.”
     Phil Dushey, President, Global Financial Services
   for $429,000 as a Result of Lying to Lessee
- Four Types of Interim Rent
- FinTech #102  by Christopher Menkin
   Menkin has an Epiphany
- Alternate Finance Companies - Subprime
- FICO Score: Excellent to Bad
- Charlie Chan on Balboa Capital
- Reader Complaint About LEAF Financial Investment (Collection)
- How to be a “Leasing Expert Witness”
    and Make Extra Income
- Your Photograph on LinkedIn.com
Use a Password Generator
- Banks Turn Toward Leasing for More Profit
- Why Leasing News is Different
- Take Your Banker to Lunch
- Lease Police Tips on Judging Vendors
- Alert: Rudy Trebels Back Soliciting Broker Business
- "The real U.S. Bank Equipment Finance story"
- The Day that Albert Einstein Feared May Have Finally Arrived
- Equipment Finance Agreements Explained/Barry S. Marks
- California License Web Addresses
- Settlement Costs vs. Litigation Costs