Archives, April 22, 2005
BSB Ad in Leasing News

"My how times have changed......"
   - Don Myerson, BSB President, April 21, 2011

Classified Ads---Controller

(These ads are “free” to those seeking employment or looking
to improve their position)

 

Chicago, IL experienced in lease accounting, operations, management, and Sarbanes-Oxley. Seeking position with equipment lessor. Would consider contract assignments or relocating. Email: leasecontroller@comcast.net

Southeastern, MI Controller & Management experience w/ equip lessors &broker. MBA, CPA w/ extensive accounting, management, securitization experience with public and private companies. Willing to relocate. Email: Leasebusiness@aol.com

Acton, MA Strong experience in lease accounting, operations, & systems.   Implemented lease plus, Great Plains, networks. Excellent financial reporting and analysis skills. Looking for new opportunity. LinkedIn alexanderzlenz@gmail.com| Resume

Southern CA 20 years exp. as hands-on leasing CFO, managing accounting, treasury, FP&A, including securitizations, Great Plains/FRx, budgets, risk management.  MBA.  Also available as interim Controller/CFO, consultant. Email: leasecfo@gmail.com

Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

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U.S. Bancorp Sunny Days

U.S. Bancorp (NYSE:USB), Minneapolis, Minnesota reported first quarter net income of $1,046 million. The bank also noted in a company press release charge offs declined 14.1% compared to the fourth quarter of 2010 and the total risk based capital ratio was 13.8%.

According to FDIC filings, year-end 2010, Tier 1 risk-based capital ratio 9.06% with non-current loans and leases at $9.1 billion. Net charges off in the year-end were $4.18 billion, higher than the previous year of $3.86 billion, mostly from real estate loans, $1.7 billion, followed by $1.6 billion in loans to individuals, $1.2 billion in credit cards and $102 million in lease financing receivables, down from the previous year of $223.4 billion. First Quarter FDIC filings were not recorded at press time as well as SEC 1st Quarter.

The press release shows the following chart, indicating a slight improvement in "Lease financial", but down from first quarter 2010, as "commercial is up from the previous first quarter, showing the improvement, from $40.8 billion to $42.68 billion.

Residential mortgages were up with the only decrease being in "Home equity and second mortgages."

Loans were up 2.4%

At the same time while the press release noted less charge offs, actually going from $1.2 billion to $899 million first quarter, 2011, the allowance for credit losses also reflect the nature of loans, where total commercial and lease financing went from $277 million to $139 million.

Similar what the Key Corp. current and CEO-elect said in their telephone conference call with reporters, U.S. Bancorp Chairman, President and Chief Executive Officer Richard K. Davis announced "...The expansion in branch banking and its success to their bottom line.”

He stated, “…the average commercial loans outstanding were 1.9 percent higher, excluding acquisitions, in the first quarter than the prior quarter, as lending and commitments to corporate, middle market and small business customers grew."

"Contributing to this growth were our metropolitan branch banking and in-store divisions, which together increased average small business loans outstanding by over 22 percent year-over-year and by 3.9 percent linked quarter. The growth in lending activity and commitments, higher deposits, new and enhanced product capabilities and expansion initiatives in each of our business lines contributed to strong first quarter net revenue, which was, in fact, a record first quarter total for our Company.

“We continue to invest in our franchise, most notably this quarter with the acquisition of the banking operations of First Community Bank from the FDIC. The acquisition extended our branch banking franchise into New Mexico, our 25th contiguous state, and immediately established us as one of the top three banks in terms of market share in this new attractive market. The purchase of FCB fits perfectly into our strategy of acquiring businesses and smaller fill-in banking franchises that add product and service capabilities, as well as profitable scale to our existing business lines and footprint in comparatively low-risk transactions.

“Our adherence to prudent underwriting and an improving economy resulted in significantly lower credit costs for the first quarter.... I am pleased to begin rewarding our shareholders for their patience, confidence and support during the recent economic downturn. In addition to the dividend increase, our board of directors authorized a 50 million share common stock repurchase program, which provides the Company with added flexibility going forward as we seek to return capital to our shareholders.

“The economy is slowly recovering. We can see it in our customers’ actions - from growth in small business lending to higher payment processing transaction volumes to improving credit metrics – and, importantly, in our customers’ outlook. A healthy banking industry is crucial to the country’s economic growth and future prosperity, and our Company and our employees are taking an active role in Washington D.C., communicating with our regulators, legislators and the administration. In fact, this year U.S. Bank market leaders from across our footprint have attended over 130 meetings with representatives in Washington D.C. We are working on behalf of the industry to make certain that our voice is heard and that new regulation and legislation supports the recovery, rather than stifles the country’s progress.

“And we are working everyday on behalf of our stakeholders. Emerging from this downturn as a stronger Company, I am confident that our operating model, our prudent risk management and growth strategies will continue to serve us well for the benefit of our employees, customers, communities and, importantly, our shareholders.”

US Bancorp press release with financials:
http://www.leasingnews.org/PDF/USBANK_411.pdf

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Microfinancial Smooth Sailing to Better Profits

MicroFinancial (NASCAQ-MFI), Burlington, Massachusetts, the leader in the micro lease marketplace, reported net income of $2 million for the first quarter of 2011 compared to $600,000 first quarter of 2010. Revenue was up to $13.3 million compared to $12.3 million the previous quarter as operating expenses decreased from $11.4 million the previous quarter to $10 mill this first quarter.

"Our net investment in leases at the end of the first quarter was approximately $140 million, an increase of approximately 11% over the same period in 2010," Richard Latour, President and Chief Executive Officer said. "We have continued to maintain a conservative leverage ratio at less than 1.1 times debt to shareholder equity. We are also pleased to see that our delinquency levels and net charge offs dropped considerably for the quarter. From an operational standpoint we had a very good quarter in signing up new vendors in that we approved slightly over 450 new vendors."

Full 8-K Report:
http://www.leasingnews.org/PDF/MicroFinancialIncorporated_8K_20110421.pdf

Gary DiLillo, President 216-658-5618 or gary@avptc.com Comprehensive personal property tax outsourcing services. Click here to see what our clients say about us.

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Leasing Industry Help Wanted

High Compensation to High Achievers Leasing Subsidiary of a National Bank Holding Company looking for experienced professionals (10+ years of experience in commercial finance industry) who can originate a volume of bank-qualified credits (primarily SEC reporting companies). Average transaction size from $1-20MM. Enjoy private office in our Southern California location. We offer excellent commission with a draw. Send resume in strictest confidence to: rose.jones98@yahoo.com

Documentation Administrator Los Angeles, CA Join one of the Monitor's Top Ten Independent Finance and Leasing Companies doing middle and large ticket transactions. Going on 22 years of successful, repeat business with an excellent reputation in the finance/lease community. Please email resume to: operations@julesandassociates.com We will contact you for a personal interview at our office in the financial district www.julesandassociates.com Jules and Associates, Inc. has been in business for over 20 years.

Syndication Manager Rancho Cucamonga, CA Knowledge of transportation industry a plus, but not required. Compensation commensurate with experience contact: wdalton@crlease.com We can finance or lease any make or model of truck, bus, or equipment

 

Please see our Job Wanted section for possible new employees.

 

Leasing News Help Wanted Ad Pricing

Help Wanted Web Ad New Programs Classified Ad Section (rotates chronological above headlines and also appears in Classified Ad section.) * 15 days in a row: $395 four lines (a space is a line) ($25 each additional line or space) 30 days in a row: $595 four lines (a space is a line) ($40 each additional line or space) Design work is free. Logo is free as well as company description not to exceed the number of lines of the ad. Also free: click to a click to a web site or a full description of the position. Ads are placed in the "Help Wanted' section by category, alphabetical, with the ad with the most lines first in the group. They appear on the web site and in each news edition at the top in a rotation basis per issue. * Help Wanted” ads  appear in each issue on a chronological basis above the top headline as a courtesy. This position is not available as a paid position, but is generally on a rotation basis.  At the same time, the ad continues in the classified help wanted section in the news edition and web site, so in effect appears twice. Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board

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My Vacation Read
by Christopher “Kit” Menkin

Just back from a two week stay in Hawaii (Lahaina-Hyatt and Honolulu-Kahala). While weddings and conferences seemed to be abundant, the other traffic has slowed down due to the economy as well as visitors from Japan particularly (a lot of Australians, however.).

It generally slows up around April 15th tax time. It is also spring break and grandparents take their grandchildren places (an American tradition.)

It seems the leasing business has slowed down during this period, While there is talk of optimism, indicators still are not happy about the slow recovery or the availability of better credits wanting to expand their business and use lease financing. It is true brokers have less sources to go to, but then again, there are also less brokers. It also seems to be a lot of direct salesmen changing companies as the fight for vendors and franchisors continue. It usually means not only are the salesman not happy, but their sales managers, too.

More companies are working small business loans secured with equipment.

It could also be the "Evergreen clauses" or the supposed $1.00 outs that the lessee finds now are "Fair Market Value" or the tricks played are catching up to many in the leasing business. I have many complaints in the works about the automatic renewal of lease payments, including those with a $1.00 purchase option. When I get involved, the lessor automatically says "thank you for pointing out the mistake." When you get the same response three times in the last few months from the same company, you wonder how many are not contacting Leasing News.

As manufacturing is moving overseas, meaning Europe, India, plus South America, expansion into China, Malaysia, Viet Nam, Korea, to name a few, the financial institutions are following and there seems to be several new press releases daily about a USA company now doing financing in India or China, which means less attention here, as well as the income and taxes also remain overseas, so

it is multiple level loss meaning less jobs here, less income here, and less financing as the transaction take place overseas, too, with representatives who speak the language and know the local country laws and procedures and make the commissions.

The growth of leasing companies today seems to be buying portfolio's from others, and the trading is now being done by many, not just the large syndicators. Smaller banks also can also profit from the sale, too. At one time, the paperwork was too time consuming, but with the software available today and companies who can service these small portfolio’s growing, is basically syndication on a smaller scale, but profitable.

The major banks are bragging about the “small business loans, “ one just mentioned a $2.5 million small business loan, and perhaps to them it was as defined by the U.S. Small Business Administration (SBA).

This is the SBA size standard established for most industries:

• 500 employees for most manufacturing and mining industries

• 100 employees for all wholesale trade industries

• $5 million for most retail and service industries

• $17 million for most general & heavy construction industries

• $7 million for all special trade contractors

If this is the case, there should be a lot of business out in the marketplace for the equipment leasing industry in both the small and middle-tick marketplace.

Equipment Leasing & Finance Foundation April Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) of 65.4, down from the all-time high of March’s 72.4.

When asked about the outlook for the future, survey respondent Russell Nelson, President, Farm Credit Leasing Services Corporation, remaining optimistic said, “Strong first quarter results reflect growing demand/need for replacement and new equipment and improved confidence in the current economy. Rising oil prices could impact but not significantly derail current capital spending for assets, as companies recognize the need for new equipment to support and drive new and growing business opportunities."

April 2011 MCI Survey Comments from Industry Executive Leadership:

Depending on the market segment they represent, executives have differing points of view on the current and future outlook for the industry.

Independent, Large Ticket -
“[It’s] still going to be tough sledding this year.” Executive officer, Large Ticket Independent

Bank, Middle Market -
“Pent up demand for equipment is starting to show in new equipment orders. Additionally, the progress made on moderating the proposed lease accounting changes is very encouraging.” Adam Warner, President, Key Equipment Finance

Independent, Small Ticket -
“Still feeling bullish about the long run. The small business segment of the market seems slower to recover than other markets. When this segment feels more confident, the recovery will be fully underway.” Valerie Hayes Jester, President, Brandywine Capital Associates, Inc.

April 2011 Survey Results:

• · When asked to assess their business conditions over the next four months, 54% of executives responding said they believe business conditions will improve over the next four months, a decrease from 67.5% in March. 46% of respondents believe business conditions will remain the same over the next four months, an increase from 32.5% in March

• 65% of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, unchanged from March. 35% believe demand will “remain the same” during the same four-month time period, also unchanged from the previous month.

• 37.8% of executives expect more access to capital to fund equipment acquisitions over the next four months, unchanged from March. 62.2% of survey respondents indicate they expect the “same” access to capital to fund business, also unchanged from the previous month. In the last five months’ surveys, no one responded that they expect “less” access to capital.

• When asked, 37.8% of the executives reported they expect to hire more employees over the next four months, down from 40% in March. 56.8% expect no change in headcount over the next four months, an increase from 52.5% last month, while 5.4% expect fewer employees, a decrease from 7.5% in March.

• 86.5% of the leadership evaluate the current U.S. economy as “fair,” down from 92.5% who did in March. 13.5% rate it as “poor,” up from 7.5% in March.

• 43.2% of survey respondents believe that U.S. economic conditions will get “better” over the next six months, down from 57.5% in March. 48.6% of survey respondents indicate they believe the U.S. economy will “stay the same” over the next six months, up from 37.5% in March. 8.1% responded that they believe economic conditions in the U.S. will worsen over the next six months, up from 5.0% who believed so last month.

In April, 48.6% of respondents indicate they believe their company will increase spending on business development activities during the next six months, up from 45% in March. 48.6% believe there will be “no change” in business development spending, down from 55% last month, and 2.7% believe there will be a decrease in spending, up from no one who believed so last month.

The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that provides vision for the equipment leasing and finance industry through future-focused information and research. Primarily funded through donations, the Foundation is the only organization dedicated to future-oriented, in-depth, independent research for the leasing industry. Visit the Foundation online at http://www.LeaseFoundation.org.

Follow the Foundation:
Twitter @ LeaseFoundation
Facebook: Equipment Leasing & Finance Foundation
Linked In: http://www.linkedin.com/groups?gid=89692

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

"The End of Off Balance Sheet Financing"
by Matthew Troyer and Brian Villa, Attorneys
Bingham McHale LLP

(originally published in Lexology.com)

Does your business lease real or personal property? Or perhaps you are in the business of leasing property to others? A Joint Exposure Draft (Draft) proposes a new accounting standard that may impact your business. The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) created the Draft to standardize the way lease liabilities are accounted for on balance sheets.

Under current rules, leases are classified as either ‘operating’ or ‘capital.’ Capital leases are characterized by the transfer of ‘sufficient risks and rewards of ownership' as determined by four rules. Satisfying any of these rules results in a lease being classified as capital. Otherwise a lease is classified as operating. Generally, making the determination that a lease is capital requires the recording of an asset and corresponding liability, while the determination that a lease is operating requires no such balance sheet entry. There are a variety of potential impacts that the Draft carries with it for business owners in a variety of industries.

From lease liability to loan default. Under the current rules, a business hat just entered into a 10-year lease with four 5 year options for office space has a contractual obligation to pay the remaining amount of the 10-year lease, but does not record that obligation as a liability on its balance sheet. Under the proposed standard, that same business will have to account for the entire lease obligation on its balance sheet. The presence of these new liabilities could drastically change the business’s balance sheet – adding many more liabilities (and corresponding assets). While this may not at first blush seem significant, it could be because most commercial debt instruments contain covenants, including, often a debt to income covenant. Those covenants are designed to measure the health of a business and have been created under the current standard and normal methods of business. In the example above, without changing any of the business’s operations or other financial results, its balance sheet debt will have increased which may put it at risk of a default of its loan covenants.

It is impossible to predict what a creditor might do when confronted with this new, unexpected covenant default. However, in most instances, the business will not be able to cure the default and the creditor may have options that are a surprise to the business.

Determining the liability amount. Additionally, the Draft requires a relatively complicated analysis to determine the amount of liability to be recorded. It is not simply a matter of computing the remaining payments due under the current term of the lease. Other factors, such as the likelihood that the business may renew must be taken into consideration and revisited annually. These procedures will add cost, complexity and uncertainty to the accounting function of most businesses.

Leasing versus buying. The Draft may also impact the lease v. buy decision for many business owners, which could have an effect on the industries (real estate, lease financing) that are in the business of providing capital for leasing transactions. The sale-leaseback industry provides not only the space and equipment for lease, but also provides the capital for the acquisition of assets. A fundamental shift from leasing to owning may impact development, lease rates, credit availability, occupancy rates and more.

How to prepare for the change. For business owners, the first step will be to estimate the impact of accounting for lease liability on the balance sheet. That information will be necessary to review loan and corporate documents to assess potential consequences. Moving forward, business owners may also want to reweigh the benefits of leasing versus owning various assets.

It is important to remember that the proposed standard will affect almost all outstanding leases – in particular those that are presently classified as operating leases. As the proposal currently stands, there will be no grandfathering of existing leases. If you have questions about how the proposed accounting standard will impact your business, please contact Matt Troyer at 317-968-5419 or mtroyer@binghammchale.com

John Kenny Receivables Management www.jrkrmdirect.com • End of Lease Negotiations & Enforcement • Fraud Investigation • Credit Investigations • Asset Searches • Skip-tracing • Third-party Commercial Collections The Solution to Your Credit & Accounts Receivable Needs John Kenny 315-866-1167 |  John@jkrmdirect.com

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

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Terry Waggoner's son Jeremiah, age 28, who first enlisted in January, 2001,
along with Jonathan Morgan, age 25, at the Best Ranger competition at Fort Benning, Georgia.

 

"They are one team of One team out of the four from the 82nd finished at the competition Jeremiah had trained them all as an Instructor at the Pre-Ranger Course at Fort Bragg for the past two years.

"After 3 combat tours as an 82nd Airborne Ranger Scout Sniper, he has lost men and we grieve and pray for them.

“Since December of '06, my 'profession' has been as a Patriot Guard Rider serving the Families of the Fallen.

“It is the finest use of my time and my motorcycle."

Respectfully,
Terry Waggoner
Vet of 82nd Abn and 7th Special Forces (Abn)
Son of a WWII B-26 Pilot KIA
Proud Dad of SSgt Jeremiah Waggoner
82nd Airborne Ranger

((Please click on ad to learn more))
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)

Fernando's View
Special Easter Edition

By Fernando F. Croce

Though Christmas, Halloween and Thanksgiving all boast a long list of holiday-themed movies, Easter-related films are rarer but just as inspiring. With Easter Sunday right around the corner, take some time off from hunting eggs and check Netflix for these classic holiday choices.

The Greatest Story Ever Told (George Stevens, 1965): One of the most respected directors of Hollywood’s classical period, George Stevens progressed from modest projects in the 1930s and 1940s to such super-productions as “Shane” and “Giant.” It was only fitting, then, for him to try his hand at filming the Bible with this lavish, reverent retelling of the life of Jesus Christ (played by Max von Sydow). Taking a cue from von Sydow’s dignified portrayal, Stevens’ religious epic paints a stately, reverent view of the awe-inspiring events taking place from the Nativity to the Crucifixion, with an all-star ensemble that includes Dorothy McGuire, Charlton Heston, Sidney Poitier, Telly Savalas, Angela Lansbury, Martin Landau, and John Wayne. Along with “King of Kings” and “Ben-Hur,” one of Hollywood’s most famous Biblical epics.

The Gospel According to St. Matthew (Pier Paolo Pasolini, 1964): For a more unconventional yet equally inspiring account of the life and death of Jesus, try this one-of-a-kind classic from Italy. The controversial director, Pier Paolo Pasolini, believed in the neo-realist style of movies, which told stories using real locations and (in stark contrast to most Hollywood epics) non-professional actors for maximum authenticity. As a result, his version of the story of Jesus (played by Enrique Irazoqui) often has the naturalistic freshness of a documentary, with the impression of a camera eavesdropping on the likes of Mary, Peter and John the Baptist. By cutting away at the pomp of the usual Testament spectacle, Pasolini gets to heart of the teachings of Jesus, and makes viewers discover them anew.

Amazing Grace (Michael Apted, 2006): For a movie that illustrates the most stirring principles behind Easter, viewers can’t go wrong with this handsome telling of a deeply poignant chapter of history. Set in the 18th-century, it follows the life of William Wilberforce (Ioan Gruffudd), who as an ambitious, idealist member of the British Parliament took on the controversial issue of the slavery trade. Facing frustrating odds from politicians and merchants alike, he draws inspiration from his wife (Romola Garai), fellow abolitionists, and, above all, from his mentor John Newton (Albert Finney), a former slave ship owner who changed his ways after finding Christianity and writing the verses for the titular hymn. Though it has all the trappings of standard, stuffy period pieces, director Michael Apted’s underrated film remains compelling to the end.

It’s the Easter Beagle, Charlie Brown (Phil Roman, 1974): Created by legendary cartoonist Charles Schultz, the Peanuts gang became a favorite with young viewers for specials that taught the meaning of such holidays as Christmas, Thanksgiving and Halloween. The same goes for this funny and endearing feature, which finds Charlie Brown and friends getting ready to celebrate Easter. As the great egg hunt draws near, all the characters are pursuing their own way-+s of doing the holiday justice: Charlie Brown is concerned about the commercialization of Easter, Lucy is setting up her own private egg hunt, and Peppermint Patty is teaching Marcie the proper way to paint eggs. Meanwhile, Linus is telling everyone about the Easter Beagle, a role tailor-made for the one and only Snoopy. Amusing, heartwarming fun for the entire family.

Easter Parade (Charles Walters, 1948): For a tuneful holiday, tune in to this MGM classic, a Fred Astaire-Judy Garland musical which bounces along as cheerfully as the Easter Bunny. On the eve of holiday celebrations, song-and-dance man Don (Astaire) is crushed to part ways with his stage partner Nadine (Ann Miller). Determined to prove that he can get somebody else, he picks naïve showgirl Hannah (Garland) and sets out to train her for next year’s Easter parade. As her dance steps grow more assured, so does their love for each other. But can their emotions stay strong in time for Hannah’s debut? Combining toe-tapping numbers with comic elements straight out of “My Fair Lady,” the movie provides a joyous way to spend Easter with loved ones.

Minneapolis, Minnesota-- Adopt-a-Dog

Mike

Border Collie/Black Labrador Retriever Mix

Age: a young 6 yrs
Good with dogs: Yes
Good with cats: Yes
Good with kids: Yes
Weight: 65 lbs

My Story: I was adopted out through Pet Haven 5 years ago as a young pup. Sadly, my family doesnt have enough time to spend with me and provide the proper exercise, training and attention that I need to be the best boy I can be so they brought me back to Pet Haven so that I could find my real forever home.

Hobbies: long walks, running, playing

Commands/Tricks: I know lots of comand words like sit, down, come, wait, off.youll see, Im a real good boy who likes to listen.

Crate / Potty Trained: Yes/Yes

Activity Level: Medium I would be a good dog to take to the dog parks. Id love to take you out on long walks. I also love to play chase and just run around.

Socialization/who I currently live with: I had been living with one adult and two kids age 11 & 16. Now Im staying with my foster parents and their young son, two cats and two dogs. And I am loving all the attention.

Pet ID: NB • Spayed/Neutered • Up-to-date with routine shots • House trained

Please request an online application at dogs@pethavennmn.org.

Mike is attending Pet Haven's medium/large dog adoption events and his adoption fee is $200 (cash or check only) and includes spay/neuter, heartworm check, current vaccinations, and microchip and registration.

Due to post-adoption services provided, it is Pet Haven's policy to only place dogs into homes within a 60-mile radius of the Twin Cities area.

Pet Haven Inc. of Minnesota
Minneapolis, Mn
952-831-3825
dogs@pethavenmn.org
http://www.pethavenmn.org/dog-and-cat-adoption.php

Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet.com/

 

--- News Briefs

Financial services power GE earnings, up 77%
http://www.usatoday.com/money/companies/earnings/2011-04-21-ge-general-electric-earnings.htm

SunTrust names next CEO amid renewed profits
http://www.ajc.com/business/suntrust-names-next-ceo-919655.html

KeyCorp completes repurchase of warrant issued to U.S. Treasury under TARP
http://www.crainscleveland.com/article/20110421/FREE/110429971#

GATX Reports $19.9 Million first Quarter
http://ir.gatx.com/phoenix.zhtml?c=70051&p=irol-newsArticle&ID=1553227&highlight=

Huntington Bancshares profit up on improved loans
http://www.businessweek.com/ap/financialnews/D9MNGFI00.htm

Dollar keeps sinking while gold tops $1,500
http://latimesblogs.latimes.com/money_co/2011/04/dollar-falls-inflation-interest-rates-fed-brazil-china.html

Android Phones Track Users Locations, Just like IPhones
http://www.ibtimes.com/articles/137143/20110422/android-phones-track-users-movements.htm

American Idol Stefano Landone leaves with "Lately"
http://www.sacbee.com/2011/04/21/3571376/american-idol-stefano-langone.html

You may have missed -

20 Things To Do With Matzah (2:24)

 

Sports Briefs----

The Huddle
http://content.usatoday.com/communities/thehuddle/index

Sharks beat Los Angeles Kings to take 3-1 series lead
http://www.mercurynews.com/sharks/ci_17906085

California Nuts Briefs---

Silicon Valley CEOs: We're hiring, but worried about 'California's sustainability'
http://www.mercurynews.com/business/ci_17902848

Will Leon Panetta be Obama's next defense secretary?
http://blogs.sacbee.com/capitolalertlatest/2011/04/is-leon-panetta.html

“Gimme that Wine”

Kendall-Jackson winery owner Jess Jackson dies at 81
http://www.pressdemocrat.com/article/20110421/NEWS/110429910/1350

Jess Stonestreet Jackson Obituary
http://www.kj.com/Default.aspx

The $410 Corkscrew
http://www.nytimes.com/2011/04/20/dining/20pour.html?ref=dining

Royal Wedding wine revealed
http://www.decanter.com/news/wine-news/523492/royal-wedding-wine-revealed

N.Y. Honors Winemakers, Grape growers
http://www.winesandvines.com/template.cfm?section=news&content=86624&htitle=
N.Y.%20Honors%20Winemakers%2C%20Grapegrowers

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

Wine Prices by vintage
http://www.winezap.com

http://www.wine-searcher.com/

US/International Wine Events
http://www.localwineevents.com/

Winery Atlas
http://www.carterhouse.com/atlas/\

Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm

      1526 - The 1st American slave revolt occurred in SC.Nearly 40 years before the first permanent European settlement in North America, Spanish explorers bring enslaved Africans to what are now the Carolinas. The Africans escape in what is the first recorded slave revolt in North America.
    1778 - Captain John Paul Jones of Ranger led landing party raid on Whitehaven, England. Whitehaven was an English seaport on the Irish Sea. The decision to raid it was not made because of its strategic value, for the ships in its harbor were mostly coastal fishing vessels, containing little of value to the English war cause. John Paul Jones' original idea was to capture an important person in the course of the raid and hold the unfortunate prisoner hostage until the British ministry released American sailors from prison. By this time, the Revolutionary War had been going on for three years. Soldiers taken prisoner during land engagements were frequently exchanged as prisoners of war. But the English still treated anyone found on an American armed vessel as a pirate. This was a sore point with sailors in the Continental Navy, and especially with Jones. He hoped his raid might free some of the American seamen languishing in English prisons. The destruction caused by the Whitehaven raid was paltry, but its effectiveness as propaganda was electrifying. No raid had been made on an English seaport since 1667, thanks to Britain's dominance of the seas. Englishmen wondered uneasily where the mighty Royal Navy had been in Whitehaven's time of need, and Jones appeared, not for the last time, in English newspapers as a swashbuckling pirate. The effects of the Continental Navy's daring exploits upon English commerce helped arouse distaste among the British people for continuing the Revolutionary War.
    1794- The first death penalty ban by a state was enacted by Pennsylvania. The law abolished all executions except in cases murder in the first degree. Michigan enacted a general ban on the death penalty on May 4, 1846, except in cases of treason against the state.
    1802-the U.S. learned that Napoleon I of France in 1800 had secured through a secret agreement(treaty of San Ildefonso, in effect giving back territory awarded Spain by France in the Treat of Fontainebleau in 176) the return of the Louisiana territory from Spain. ( France was at war with England and believed that many British trade ships were disguised as American ships---in 1808 they would start seizing ships, considered piracy by the US). This was alarming news because the mouth of the Mississippi River was now in the hands of an aggressive power, and Americans west of the Allegheny Mountains depended on free passage and the use of the port of New Orleans to transfer their products to oceangoing ships. President Thomas Jefferson ordered Robert R. Livingston, U.S. minister to France, to buy land on the lower Mississippi for use as a port, or to secure a guarantee of free navigation. In October, Spanish officials, still in New Orleans, refused to allow Americans to use the port. This serious disruption of American commerce led Jefferson in the next year to begin negotiations for purchase of Louisiana.
    1864- By Act of Congress, the phrase "In Good We Trust" began to be stamped on all U.S. coins.
    1869-at noon a gunshot signaled the start of the Oklahoma land rush as thousands of settlers rushed into the territory to claim land. Under pressure from cattlemen, the federal government opened 1,900,00 acres of central Oklahoma that had been bought from the Creek and Seminole tribes. Andy Grove, former president of Intel, commented that the rush for the internet is very much like the Oklahoma Land Rush. The first one to grab the parcel of land, has rights for the rest of their life. Bill Gates was listening.
    1876-in the first National League game ever played, the Boston Red Caps
( later the Braves) defeated the home town Philadelphia Athleticss,6-5. Jim O'Rourke got the first hit, and Joseph Borden, playing under the name of Josephs, was the winning pitcher.
    1883 - An outbreak of tornadoes from Louisiana to Kansas claimed the lives to 200 persons. One of the tornadoes destroyed the town of Beauregard MS.
    1887 -- James Norman Hall (1887-1951) born, Colfax, Iowa. American writer, best-known for the Mutiny on the Bounty (1932), coauthored with Charles Nordhoff. Hall lived in California & Tahiti. He also published poetry, children's books, short stories, and travel books.
    1889 - At precisely high noon, thousands of would-be settlers make a mad dash into the newly opened Oklahoma Territory to claim cheap land. The nearly two million acres of land opened up to white settlement was located in Indian Territory, a large area that once encompassed much of modern-day Oklahoma
    1891- Laura Gilpin birthday, famed photographer of New Mexico, the SouthWest, and the Navaho Indian way of life.
http://www.photographydealers.com/htdocs/representedartists/
lgilpin/artistindex.html
http://ci.rio-rancho.nm.us/library/gilpin.html
http://www.sla.purdue.edu/WAAW/Palmquist/Photographers/Gilpin.htm
    1898- the American gunboat Nashville, captured the Spanish ship Buena Ventura. On April 24, Spain declared that a state of war existed with the United Sates. The following day, Congress declared that a state of war had existed since April 21.
http://www.spanamwar.com/timeline.htm
http://lcweb.loc.gov/rr/record/
http://memory.loc.gov/ammem/sawhtml/sawhome.html
    1906-Father Ricard at the University of Santa Clara wrote to the "San Jose Mercury":
The earthquake period is gone. Once the pent up forces of nature have had a vent, nothing of a serious nature need be apprehended. At the most a succession of minor shocks may be felt and that's all. It is not unreasonable, therefore, for people to continue in dread of a new destructive temblor. People should fearlessly go to work and repair mischief done and sleep quietly at night anywhere at all, especially in wooden frame. Never mind foreboders of evil:
they do not know what they are talking about. Seismonetry is in its infancy and those therefore who venture out with predictions of future earthquakes when the main shock has taken place ought to be arrested as disturbers of the peace. Board of Supervisors met for the first time since the earthquake in Sup. McGushin's saloon. Lawyers for the Home Telephone Co. were also there and paid bribes to the supervisors.
    1913—birthday of guitarist Willie C. “Boll Weenie Bill” Moore Kinston, NC
    1914- Babe Ruth made his professional pitching debut, playing for the Baltimore Orioles in his own hometown. Allowing just six hits and contributing two singles himself, Ruth shut of the Buffalo Bisons, 6-0.
    1914--FLETCHER, FRANK JACK Medal of Honor
Rank and organization: Lieutenant, U.S. Navy. Place and date: Vera Cruz, Mexico, 21 and 22 April 1914. Entered service at: Iowa. Born: 29 April 1885, Marshalltown, lowa. G.O. No.: 177, 4 December 1915. Citation: For distinguished conduct in battle, engagements of Vera Cruz, 21 and 22 April 1914. Under fire, Lt. Fletcher was eminent and conspicuous in performance of his duties. He was in charge of the Esperanze and succeeded in getting on board over 350 refugees, many of them after the conflict had commenced. Although the ship was under fire, being struck more than 30 times, he succeeded in getting all the refugees placed in safety. Lt. Fletcher was later placed in charge of the train conveying refugees under a flag of truce. This was hazardous duty, as it was believed that the track was mined, and a small error in dealing with the Mexican guard of soldiers might readily have caused a conflict, such a conflict at one time being narrowly averted. It was greatly due to his efforts in establishing friendly relations with the Mexican soldiers that so many refugees succeeded in reaching Vera Cruz from the interior.
    1917- the William Metz Ice Company of Pittsburgh, PA, began operating equipment to ice refrigerated railroad cars. Manufactured by Thomas Wright of Jersey City, NJ, it consisted of a truck with an extension top adjustable to any position to enable ice to be placed in the upper most section of the car, making it possible for one man to do all the loading without the held of assistants. It is credited with expanding the agriculture and farming industry in the United Sates.
    1920 – birthday of Hal March (Mendelson) (TV emcee: What's It For, The $64,000 Question, Laughs for Sale; actor: My Friend Irma, The Soldiers, The Imogene Coca Show, The George Burns and Gracie Allen Show; San Francisco. Died Los Angeles, Jan 19, 1970)
http://us.imdb.com/Name?March,+Hal
    1921—birthday of congo/bongo drummer Candido Camero San Antonio De Los Baños Cuba
http://www.rhythmweb.com/bongo/candido.htm
http://www.latinpercussion.com/candido.htm
    1922-pianist Lou Stein born, Philadelphia, PA
http://www.personal.psu.edu/faculty/e/w/ews3/SHJM/
SteinHausJazzMusic/LouStein.html
    1922- bassist Charlie Mingus, a leader in modern jazz, was born in Arizona. He started with the traditional jazz outfits of Louis Armstrong, Kid Ory and Lionel Hampton. But by 1953, Mingus had moved to the modern camp, playing with the likes of Dizzy Gillespie and Charlie Parker. He was also justly famous for leading his own groups, and for his compositions. Mingus died of Lou Gehrig's disease in 1979.
http://www.mingusmingusmingus.com/bio/mingusbio.html
http://www.duke.edu/~rdk1/
http://webusers.siba.fi/~eonttone/mingus/
    1928-birthday of trumpet player Tommy Turrentine, Pittsburgh, PA
http://members.tripod.com/~hardbop/tommyt.html
    1935-birthday of bass player Paul Chambers, Pittsburgh, PA
http://members.tripod.com/~hardbop/chambers.html
    1936 - Bob Feller made his pitching debut with the Cleveland Indians. Feller struck out 15 St. Louis Browns in his first outing. Three weeks later, he tied the American League record by striking out 17 Philadelphia Athletics.
    1936- Glen Campbell was born in Billstown, Arkansas. At the age of 22, he moved to Los Angeles and began playing guitar on recording sessions. One record he is said to have played on is "Tequila" by the Champs. In 1965, Campbell took Brian Wilson's place on a tour by the Beach Boys. Two years later, he topped both the country and pop charts with "Gentle on My Mind" and "By the Time I Get to Phoenix." His other hits include "Wichita Lineman" and "Galveston." His television series, "The Glen Campbell Show," ran for 4.5 years. He plays almost fulltime in Branson, Missouri
http://www.glencampbellshow.com/
http://www.branson.net/
    1937 – birthday of (John Joseph) Jack Nicholson (Academy Award-winning actor: One Flew Over the Cuckoo's Nest [1975], Terms of Endearment [1983], As Good as It Gets [1997]; Five Easy Pieces, The Shining, Batman, Broadcast News, Chinatown, Easy Rider, Prizzi's Honor, The Witches of Eastwicke, Little Shop of Horrors, A Few Good Men)
http://www.geocities.com/Hollywood/Film/3000/
http://www.evesmag.com/nicholson.htm
http://the-movie-times.com/thrsdir/actors/jnicholson.html
    1939-birthday of singer Mel Carter, Cincinnati, OH
http://www.mel-carter.com/
    1940-The first all-Chinese commercial radio program was broadcast this day over KSAN Radio in San Francisco, CA.
    1945 - Adolf Hitler, learning from one of his generals that no German defense was offered to the Russian assault at Eberswalde, admits to all in his underground bunker that the war is lost and that suicide is his only recourse. Almost as confirmation of Hitler's assessment, a Soviet mechanized corps reaches Treuenbrietzen, 40 miles southwest of Berlin, liberates a POW camp and releases, among others, Norwegian Commander in Chief Otto Ruge.
    1945 - Himmler meets Count Bernadotte of the Swedish Red Cross and gives him a message to pass to the western Allies, offering a German surrender to the British and Americans but not to the Soviets. The message is passed to the Allies on the 24th.
    1945 - US 7th Army units cross the Danube at Dillingen and Baldingen.
    1945 - Units of 2nd and 4th US Corps (parts of US 5th Army) reach the Penaro River in their advance to the Po River. On the left flank Modena is taken.
    1945--HAYASHI, JOE Medal of Honor
Private Joe Hayashi distinguished himself by extraordinary heroism in action on 20 and 22 April 1945, near Tendola, Italy. On 20 April 1945, ordered to attack a strongly defended hill that commanded all approaches to the village of Tendola, Private Hayashi skillfully led his men to a point within 75 yards of enemy positions before they were detected and fired upon. After dragging his wounded comrades to safety, he returned alone and exposed himself to small arms fire in order to direct and adjust mortar fire against hostile emplacements. Boldly attacking the hill with the remaining men of his squad, he attained his objective and discovered that the mortars had neutralized three machine guns, killed 27 men, and wounded many others. On 22 April 1945, attacking the village of Tendola, Private Hayashi maneuvered his squad up a steep, terraced hill to within 100 yards of the enemy. Crawling under intense fire to a hostile machine gun position, he threw a grenade, killing one enemy soldier and forcing the other members of the gun crew to surrender. Seeing four enemy machine guns delivering deadly fire upon other elements of his platoon, he threw another grenade, destroying a machine gun nest. He then crawled to the right flank of another machine gun position where he killed four enemy soldiers and forced the others to flee. Attempting to pursue the enemy, he was mortally wounded by a burst of machine pistol fire. The dauntless courage and exemplary leadership of Private Hayashi enabled his company to attain its objective. Private Hayashi’s extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.
    1946 - Tex McCrary and Jinx Falkenburg arrived at WEAF radio in New York City with an entertaining morning show called, "Hi, Jinx". WEAF later became WNBC and then WFAN SportsRadio 66. This was one of the most popular radio shows in the 1940's and early 1950's. They switched over to television in the 1950's.
http://www-itg.lbl.gov/Seaborg.talks/presidents/24.html
http://www.geocities.com/Hollywood/Studio/5217/jinxbio.htm
    1951--*LITTLETON, HERBERT A. Medal of Honor
Rank and organization: Private First Class, U.S. Marine Corps Reserve, Company C, 1st Battalion, 7th Marines, 1st Marine Division (Rein.). Place and date: Chungchon, Korea, 22 April 1951. Entered service at: Blackhawk, S. Dak. Born: 1 July 1930, Mena, Ark. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as a radio operator with an artillery forward observation team of Company C, in action against enemy aggressor forces. Standing watch when a well-concealed and numerically superior enemy force launched a violent night attack from nearby positions against his company, Pfc. Littleton quickly alerted the forward observation team and immediately moved into an advantageous position to assist in calling down artillery fire on the hostile force. When an enemy hand grenade was thrown into his vantage point shortly after the arrival of the remainder of the team, he unhesitatingly hurled himself on the deadly missile, absorbing its full, shattering impact in his body. By his prompt action and heroic spirit of self-sacrifice, he saved the other members of his team from serious injury or death and enabled them to carry on the vital mission which culminated in the repulse of the hostile attack. His indomitable valor in the face of almost certain death reflects the highest credit upon Pfc. Littleton and the U.S. Naval Service. He gallantly gave his life for his country.
    1952--Top Hits
Wheel of Fortune - Kay Starr
Anytime - Eddie Fisher
Be My Life's Companion - The Mills Brothers
(When You Feel like You're in Love) Don't Just Stand There - Carl Smith
    1954 - Senator Joseph McCarthy begins hearings investigating the United States Army, which he charges with being "soft" on communism. These televised hearings gave the American public their first view of McCarthy in action, and his recklessness, indignant bluster, and bullying tactics quickly resulted in his fall from prominence. In February 1950, Senator McCarthy charged that there were over 200 "known communists" in the Department of State. Thus began his dizzying rise to fame as the most famous and feared communist hunter in the United States.In December 1954, the Senate voted to censure McCarthy for his conduct.
    1956 - Elvis Presley made his Las Vegas debut at the Frontier Hotel. With "Heartbreak Hotel" at the top of the pop charts, one can imagine the excitement generated by the new ‘King of rock and roll'. Even with a number one hit, Elvis was not yet well-received by the middle-aged audience. Management of the Frontier was so unimpressed, they gave Elvis his walking papers after one week of a two-week engagement. “ Elvis left the building” would later be the way to get audiences to leave and stop applauding for an encore.
    1957 - Frances Farmer, once a $1,500-a-week movie star, said yesterday that "San Franciscans are estremely civilized people to let me get down to the business of living" as a $70-a-week clerk. Farmer, a flaxen-haired beauty at 40, was discovered over the weekend working as a reservation clerk at the Sheraton-Palace Hotel.
    1959 - The Chicago White Sox took ‘batting practice' against the Kansas City Athletics, 20-6. Chicago scored 11 runs in the seventh inning with only one hit, a single by Johnny Callison. The Sox got 10 walks and one hit batted. Not to be outdone in the effort, the Athletics contributed three errors.
    1959-Alan Freed premieres his last Rock 'n' Roll movie, Go Johnny Go, starring Chuck Berry, Ritchie Valens, Jackie Wilson, Eddie Cochran and The Flamingos.
    1960--Top Hits
The Theme from "A Summer Place" - Percy Faith
Greenfields - The Brothers Four
Sweet Nothin's - Brenda Lee
He'll Have to Go - Jim Reeves
    1962 - The Toronto Maple Leafs won back the Stanley Cup after 11 years. The National Hockey League champions kept Lord Stanley's cup locked up in Toronto for the next three seasons.
    1966--The Troggs release "Wild Thing."
    1967 - Randy Matson set a world outdoor record in the shot put with a toss of 71 feet, 5-1/2 inches in College Station, Texas. The shot landed in section E-83 of the grandstand, but fortunately, no one was hurt.
    1968--Top Hits
Honey - Bobby Goldsboro
Cry like a Baby - The Box Tops
Lady Madonna - The Beatles
Fist City - Loretta Lynn
    1968-Trumpeter Herb Alpert sang "This Guy's In Love With You" on his CBS-TV special. The Burt Bacharach / Hal David composition would rise to the top of the US chart, where it stayed for four weeks.
    1968 - In a news conference, Defense Secretary Clark Clifford declares that the South Vietnamese have "acquired the capacity to begin to insure their own security [and] they are going to take over more and more of the fighting."
    1970 - Tom Seaver of the New York Mets struck out 19 batters to tie a National League baseball record. He also set a record by striking out 10 batters consecutively as the ‘Amazing' Mets defeated the San Diego Padres at Shea Stadium.
    1970 - Henry Ross Perot, remember him, a candidate for the U.S. Presidency, did not have a good day. Perot, of Dallas, TX, reportedly lost $450 million in the stock market.     1974 - Redbone won a gold record for the single, "Come and Get Your Love". The group, playing American Indian ‘swamp rock', formed in Los Angeles in 1968. Lolly and Pat Vegas, brothers, had been session musicians and worked on the "Shindig" TV show. Anthony Bellamy and Peter De Poe were also members of the group. Redbone had one other hit, "The Witch Queen of New Orleans". The top five hit, "Come and Get Your Love", was the group's second and final chart success.
    1970---Earth Day
http://memory.loc.gov/ammem/today/apr22.html
    1971 - Former US Navy Lieutenant John Kerry (27) testified before the US Senate Foreign Relations Committee and talked about alleged war crimes and atrocities committed in Vietnam by US forces.
    1974-The L.A. group, Redbone won a Gold record for the single, "Come and Get Your Love".
    1976--Top Hits
Disco Lady - Johnnie Taylor
Let Your Love Flow - Bellamy Brothers
Right Back Where We Started From - Maxine Nightingale
Drinkin' My Baby (Off My Mind) - Eddie Rabbitt
    1976-Johnnie Taylor's "Disco Lady" becomes the first single record to sell over 2 million copies.
    1978- Bob Marley and the Wailers performed at the One Love Peace Concert near Kingston, Jamaica. It was Marley's first appearance in his homeland since being wounded in an assassination attempt in December 1976. After the concert, Marley persuaded Prime Minister Michael Manley and Opposition Leader Edward Seaga to come on stage and shake hands.
http://www.bobmarley.com/
    1978-Gerry Rafferty's "Baker Street" is released. It will become his biggest US hit, reaching #2 on the Hot 100.
    1978-- On tonight's Saturday Night Live, John Bulushi and Dan Akroyd team up to debut two new characters called "The Blues Brothers," who perform a cover of Sam and Dave's "Soul Man."
    1980-The United States boycotted the Olympic Games by refusing to send its athletes to the Summer Olympic Games in Moscow to protest the Soviet Union's invasion of Afghanistan. At the urging of President Jimmy Carter, the U.S. Olympic Committee voted 1,604 to 797 to boycott the games. The following day, a number of athletes and coaches filed a class-action suit in the U>S. District court in Washington, DC, to block the boycott, but the suit was dismissed on May 16. The Soviet Union retaliated by boycotting the 1984 Summer Olympics in Los Angeles, CA.
    1980 - A record April heat wave sent the mercury up to the 100 degree mark in Iowa.
    1984--Top Hits
Against All Odds (Take a Look at Me Now) - Phil Collins
Hello - Lionel Richie
Hold Me Now - The Thompson Twins
The Yellow Rose - Johnny Lee with Lane Brody
    1987 - Fifteen cities in the southeastern U.S. reported new record high temperatures for the date. The afternoon high of 96 degrees at Pensacola FL established a record for the month of April.
    1989 - Twenty-seven cities in the central U.S. reported record high temperatures for the date. The high of 96 degrees at Omaha was an April record, and the high of 100 degrees at Lubbock TX equaled their record for April. Hill City KS and Liberal KS tied for honors as the hot spot in the nation with afternoon highs of 103 degrees.
    1993-the museum commemorating the Holocaust, the U.S. Holocaust Memorial Museum, opened to the public in Washington, DC. The museum combined innovative multimedia displays with one of the nation's largest repositories of documentary information about the Holocaust.
http://www.ushmm.org/
    1998-Top Hits
Too Close, Next
All My Life, K-Ci
Let's Ride, Montell Jordan Feat
Frozen, Madonna
You re Still The One, Shania Twain
    2000-- The event which triggers the biggest mass suspension in the history of the game takes place at Comiskey Park after White Sox hurler hits Dean Palmer with a seventh inning pitch in retaliation of Jeff Weaver's plunking of Carlos Lee in the previous frame. The ensuing brawls in both the seventh and ninth innings will see the ejection of eleven participants with sixteen players, coaches and managers suspended and another nine being fined.

NBA Finals Champions This Date

    1947 Philadelphia Warriors

Stanley Cup Champions This Date

    1945 Toronto Maple Leafs
    1962 Toronto Maple Leafs