Extra---First American Equipment Finance Sold to City National Bank
### Press Release ##################
City National Bank today announced that it has entered into a definitive agreement to acquire First American Equipment Finance, a privately owned, full-service mid-ticket equipment leasing company that owns and services approximately $325 million in assets.
Headquartered in Rochester, New York, First American Equipment Finance leases technology and office equipment nationwide. Its clients include educational institutions, hospitals and health systems, large law firms, insurance underwriters, enterprise businesses, professional service businesses and nonprofit organizations. The company employs approximately 100 people. Its lease transactions typically range between $250,000 and $3 million.
"In order to expand its long-standing leasing business, City National identified First American Equipment Finance as the best company to add to its organization," said City National Bank Chairman and Chief Executive Officer Russell Goldsmith. "First American's outstanding management team led by Bill Verhelle, its strong reputation and client relationships, great products and marketing skills, and a similar focus on certain key industries are an ideal fit with City National.
"Combining First American Equipment Finance's many strengths, its talented team and national reach with City National's lower funding costs and access to thousands of clients will enhance the capabilities of both companies to more profitably and effectively meet the equipment leasing needs of clients and more rapidly build our equipment leasing business."
First American's CEO, Bill Verhelle, and his management team will continue to lead the company, which will operate as a wholly owned subsidiary of City National Bank. Verhelle will report to the bank's president, Christopher Warmuth.
"We're very pleased to have found such a great partner in City National," Verhelle said. "Joining forces with the nation's 26th largest bank will allow us to provide clients with even better service and support. It also will give us better capital access, lower-cost funding and many of the other resources we need to continue our strong growth trajectory."
City National has been leasing equipment to business clients and municipal agencies for many years. At March 31, 2012, the company's business and municipal lease portfolios together totaled $418 million. However, City National leases other types of equipment principally to its clients in the communities it serves.
The all-cash transaction is expected to close in the second quarter of this year, and will be modestly accretive to earnings in 2012.
The Alta Group acted as a financial advisor to City National.
ABOUT CITY NATIONAL
City National Bank is the wholly owned subsidiary of City National Corporation It is backed by $24 billion in total assets, and provides banking, investment and trust services through 79 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates today manage or administer $57.8 billion in client investment assets, including $32.5 billion under direct management.
### Press Release################
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######## surrounding the article denotes it is a “press release”
and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer. It is considered “bias” as it is the writer’s viewpoint.
The State of the Leasing Industry by its Associations by Christopher Menkin
3/31/12
2012
2011
NAELB
566
617
696
National Association of Equipment Leasing Brokers
ELFA
522
565
582
Equipment Leasing and Finance Association
AGLF
277
274
250
Association of Government Leasing and Finance
CFA
260
--
--
Commercial Financial Association
NEFA
154
191
210
National Equipment Finance Association
The membership trend continues down as there are fewer brokers, funders, lessors and other financial institutions utilizing leasing. From conversations and email, the word finance in the name of associations
was a preclude as more business loans and advance cash, even factoring, is now being offered by those who were primarily in leasing before. Perhaps the best example of the changes comes from Five Point Capital, San Diego, California, where the company once had 210 employees and is down to 40. When David Gilbert bought out his partner in March of this year, and made changes, there were executives let go, as well as he added seven more leasing reps to make it a total of 10. Gilbert told Leasing News his company does more business loans and capital advance than leasing, although hopes increase the leasing end, primarily using Ascentium Capital and Financial Pacific.
Both the merger of the National Funding Association into the Commercial Finance Association and the many leasing entities now performing more “financing” than leasing, brings CFA to the list, and hopefully more information on their activities to Leasing News readers. There are those who believe with accounting changes, leasing will become less viable. I personally believe the opposite is true, and believe it will rejuvenate the creative side: there will be more “true leases.”
There also are other changes happening, which are affecting associations. The new way of networking is growing with IPhone, digital devices, laptops, cloud computing, working from your home with fast speed internet. As others catch up, T1 will be considered slow (maybe it is today.)
The use of the World Wide Web and satellites is very apparent with the younger members of the industry. Wi-Fi will soon be everywhere. For business, this does not mean the social networking of Facebook or Twitter, but the growth of Linkedin.com with groups that members join for free and can ask who is doing what or can you do this deal or advertising and even soliciting employment or employees.
Perhaps the larger deals are still very relationship oriented, but the small ticket and perhaps even the middle market no longer use "cold calls" or "lunches" or even get togethers, but everything from credit, to documentation and funding is done of the world wide web. To ignore this new way of doing business as not affecting association membership is naive.
It also should be noted the growth on Oracle and other software, as well as use of video and sound meetings. William H. Verhelle, president of First American Equipment Finance, Fairport, New York who has had great success by using Cisco’s Show and Share and other internet/software programs.
3/31/12
2012
2011
2010
2009
2008
2007
2006
2005
2003
2002
2001
2000
AGLF
277
274
250
238
265
277
255
255
255
203
263
343
250
EAEL
*
*
*
*
183
181
196
198
180
191
216
227
240
ELFA
522
565
582
604
700
741
768
817
780
732
862
873
850
NAELB
566
617
696
847
1021
1089
950
731
648
480
433
415
475
UAEL
*
*
*
*
289
314
314
314
297
248
378
379
589
NEFA
154
191
210
274
*
*
*
*
*
*
*
*
*
CFA
260
*
*
*
*
*
*
*
*
*
*
*
*
The March 31, 2012 numbers are really the year-end 2011 as after three months, if the company has not paid their dues, they are off the list. Yes, new members come in, but the fact is many associations had a tough time getting members to pay their dues.
In addition to the drop in membership (except for AGLF, supported by ELFA and CLP Foundation), there are other changes due to the drop in leasing entities thus the drop in those that service these entities.
3/31/2012
2012 year end
2011 Year-end
As evidence of the drop in service or support industries, note the drop in management, law firms. Captives have also dropped and are at 58 from 65 in 2011. I have often thought this is the most neglected of all the leasing categories, which perhaps should have their own association, and at least, should be members of ELFA, not only for the contacts but all the programs, sessions, and networking that they bring to the table.
The most noticeable drop was in “multi-line commercial,” from 69 to 62 to 51. These would be companies like CIT and GE. Many of them are large corporations with their own training departments, attorneys, education, and are global, yet they do need to network with other executives, perhaps recruit, and definitely want support for their own lobbying efforts.
“Independent has remained basically steady. These would be Balboa, LEAF, Marlin.”
Note the growth in “bank” from 77 to 81 and in three months to 85. This has been a campaign to attract community and regional banks as they have been getting into the lease product, and perhaps is indicative of a trend that ELFA is right on top. They have a chance to network, many special conferences, meetings, education, to learn more about the ins and outs and the who's in leasing and appear to be fueling the small and medium size business marketplace. Getting the community and regional banks involved will also attract more service and leasing companies, making the association larger and more effective.
It should be noted that President William Sutton is making the rounds to other associations, even making speaking presentations, and has also take staff with him, noticeably Dennis Brown, very active in state and local legislation for many years. Both are ex-military men, too. Make a plan and follow it.
The organization that has lost the most members in the last ten years is the National Association of Equipment Leasing Brokers, echoing the tightening of the credit marketplace as well as businesses not wanting to expand. Newer members have gotten more in business loans, cash advances, and subprime leases, while the older professionals have their sources and experience, as well as network among each other.
Another factor, also affecting all associations, as mentioned earlier, is the growth of the internet communication by iPhone, IPad, laptop, digital device making sales calls, setting up documentation, and doing funding from a home office via the World Wide Web. As important there are few cold calls or visits in the small ticket and middle market, meaning relationships are not "eye-to-eye" but screen to screen. It is not Facebook or Twitter, but LinkedIn that brokers ask who is doing what and funders soliciting others, including vendors, and there are very active group sessions that are free (you can pay for other features, but not necessary to join).
It is my observation that the once popular NAELB Forum is being used less and less as LinkedIn groups have seemed to replace much of the communication. Older members are still active on the NAELB Forum, but the fact is the leasing world has changed.
NAELB has much to offer to its membership and the discounts, information, availability and networking make the membership the best bargain of all association dues.
The good news for NAELB is the loss of members has slowed from 17.83% to 11.35% to 8.66%.
03/31/12
98 Basic
129 Industry Leader
19 Individual & Government
27 Limited 4 Emeritus 277 Members
12/31/2011:
100 Basic
126 Industry Leader
18 Individual & Governmental
4 Emeritus 26 Limited 274 Total
12/31/2010:
99 Basic
93 Industry Leader
22 Individual & Governmental 24 Limited 238 Members
"CFA currently has 260 members. I don’t have a breakdown other than I can say approximately 25% are bank affiliated and 75% are non-bank companies." Brian Cove
There was no breakdown available at the end of last year, but Hugh Swandel, the current president was able to report:
03/31/2012
88 – Broker Lessor
35 - Service Providers 29 – Funding Source 154 Members
3/31/10
103 Broker/Lessor
31 Funding Source
49 Service Provider 5 Honorary/ Complimentary 188 Members
2009 Year-End
158 Broker/Lessor
51 Funding Source
62 Service Provider 3 Honorary/Complimentary 274 Members
The recent San Diego Conference drew over 200, and the theme was to have brokers learn how to become lessors, perhaps even establishing warehouse lines to pre-fund leases and then actually fund them non-recourse.
There still are experienced and dedicated members who are determined to bring the association back up by the end of this year.
Despite the economy, less leasing companies, and the retirement of many members, as well as the unfortunate death of its 2011 President Chris Walker, as well as the battle with cancer by its then President-elect Rosanne Wilson membership has grown.
More are taking the test, Leasing News was told, and the pipeline looks strong.
It reflects a dedicated board of directors and the desire by those in the industry for the education and value of being a Certified Leasing Professional.
Many CLP’s retire in the last two years and are starting a list to put on their newsletter of the recent 17 retired CLPs, including Joe Woodley, who says he is retired from the leasing business. renewed. Others have changed jobs, such as the former president of the NEFA, Paul Knowlton, now in business lending at Union Bank.
Long time executive director Cindy Spurdle retires this month, giving the organization “new energy” to continue the enthusiasm of the program (although Ms. Spurdle will surely be missed).
Arizona Equipment Leasing Association at one time has an estimated 25 members. No official count is available at this time. The group is active. They get together for social and business meetings during the year, even invite speakers.
The Equipment Financing and Leasing Foundation does not have members. It does have a board of directors as well as contributors but is not a “membership organization.” It is under the wing of the Equipment Leasing and Finance Association.
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Leasing Companies Out of Business
plus No Longer taking Broker/Discounting Business
Companies with an * are no longer in business. The others are companies that were taking broker business, but announced that they no longer are accepting broker business. Many have also down-sized or are managing an existing portfolio.
More details are available in this list by company name:
*ABCO Leasing Inc., Bothell, WA
*ACC Capital, Midvale, Utah (lenders running off portfolio residuals)
Advantage Business Capital, Lake Oswego, Oregon
AEL Financial, Buffalo Grove, Illinois
(No longer taking new broker business)
Alliance Financial, Syracuse, New York
*AMC Funding, Charlotte, North Carolina
American Bank Leasing, Alpharetta, Georgia
*American Equipment Finance, Warren, New Jersey
Balboa Capital, Irvine, Ca
*Bank Midwest Leasing, Overland Park, KS
Bankers Healthcare Group, Weston, FL.
*C and J Leasing Corp, Des Moines, Iowa
*Carlton Financial Corporation, Wayzata, Minnesota
*Chase Industries, Inc., Grand Rapids, Michigan
*Chesterfield Financial, Chesterfield, Missouri
CHG-MERIDIAN U.S. Finance, Ltd, Woodland Hills, CA
(Sales Management focuses very selectively on certain brokers.)
*Churchill Group/Churchill Leasing, Jericho, NY
CIT Group (limited)
Columbia Bank Leasing, Tacoma, WA
Commercial Equipment Lease, Eugene, Oregon
Concord Financial Services, Long Beach, California
Court Square, Malvern, Pennsylvania
*Creative Capital Leasing Group, LLC, San Diego, CA
Direct Capital, Portsmouth, New Hampshire
Diversified Financial Service, Omaha, NE
Dolsen Leasing, Bellevue/Yakima, Washington
Equipment Finance Partners, a division of Altec, Birmingham, Alabama
Evans National Leasing, Inc., Hamburg, NY
Enterprise Funding, Grand Rapids, Michigan
*Excel Financial Leasing, Lubbock Texas
*First Corp.(IFC subsidiary), Morton Grove, Illinois
First Federal Financial Services, Inc., Menomonee Falls, Wisconsin
First Republic Bank, San Francisco, CA
Frontier Capital, Teaneck New Jersey
*GCR Capital, Safety Harbor, Florida
GE Capital, Conn (limited)
Global Funding LLC., Clearwater, FL
*Greystone, Burlington, MA
*Heritage Pacific Leasing, Fresno, CA
*Hillcrest Bank Leasing, Overland Park, KS (Parent bank sold)
Huntington Equipment Finance, Vendor Finance Group, Bellevue, Washington
*IFC Credit Corp., Morton Grove, Illinois
Irwin Financial (Irwin Union Bank), Columbus, Indiana
Irwin Union Bank, F.S.B. (Louisville, Kentucky)
Lakeland Bank, Montville, NJ
LaSalle Systems Leasing
*Latitude Equipment Leasing, Marlton, New Jersey
*Leaf Specialty Finance, Columbia, South Carolina
*LEAF Third Party Funding, Santa Barbara, Ca.
Lombard, part of Royal Bank of Scotland, worldwide
Marlin Business Services, Mount Laurel, NJ (accepting no new brokers, they may have opened for a select fee, but no more at this time, they say.)
M&T Credit (Bank)
*MericapCredit, Lisle, Illinois
Merrill Lynch Financial
*Mesa Leasing, San Diego, CA
Midwest Leasing Group, Livonia, Minnesota
National City, Cleveland, Ohio
*Navigator (Pentech subsidiary) San Diego, California
OFC Capital, Roswell, Georgia
Old National Bank, Evansville, Illinois
Pentech Financial, Campbell, CA
*PFF Bancorp, Inc, Pomona, CA
Pinnacle Business Finance, Fife, Washington
*Pioneer Capital Corporation, Addison, Texas
PredictiFund, a subsidiary of Capital Access Network, Inc
Popular Finance, St. Louis, Missouri
Puget Sound Leasing, Seattle, Washington
Radiance-Capital, Tacoma, WA
Rational Technology Solutions, Rolling Meadows, IL
*Reliant National Finance, Jacksonville, Florida
Sandy Springs, Olney, MD
Sovereign Bank, Melville, New York
Specialty Funding, Albuquerque, NM
*Studebaker-Worthington Leasing, Corp., Jerico, NY
(part of sale from Main Street Bank to Ascentium Capital)
Sun Trust Equipment Finance & Leasing, Baltimore, Maryland
*SunBridge Capital, Mission, Kansas
Suncoast Equipment Funding Corp., Tampa, Florida
TCF Equipment Finance, Minnetonka, Minnesota
TechLease, Morgan Hill, California
*Tennessee Commerce Bank, Franklin, Tennessee
Textron Financial
*Triad Leasing & Financial, Inc., Boise, Idaho
*Union Capital Partners, Midvale, Utah
US Bank, Manifest Funding, Marshall, Minnesota
(new requirement: large yearly funding)
US Bank, Middle-Market, Portland, Oregon
Velocity Financial Group, Rosemont, Illinois
VenCore, Portland, Oregon (former company Len Ludwig)
*Vision Capital, San Diego, California
Wachovia Bank Leasing
*Washington Mutual Financial
Western Bank, Devils Lake, ND
*Westover Financial, Inc., Santa Ana, California
Bank Beat---Greek-Turkish Bank Fails in New Jersey
The first bank failure since March 30, 2012/the 17th this year/the first in New Jersey. At this time last year, 34 banks had failed.
Fort Lee Federal Savings Bank, FSB, Fort Lee, New Jersey, was closed with Alma Bank, Astoria, New York, to assume all of the deposits. The bank was formed on December 15,200 to specialize in "Consumer Lending." At the end of 2011 they had 11 full time employees.
In the OTS granting the chart, the announcement stated: "Fort Lee Bank will be a full-service financial institution offering savings and credit products to homeowners and small businesses in northern and central New Jersey, with particular emphasis on the Greek American and other ethnic markets and communities in those geographic areas. (Dr.) Haralambos S. Kostakopoulos, (PhD) one of the organizers and chief executive officer of the new institution, has been credited by regulators with leading the financial rescue of First Savings Bank of Little Falls, N.J. Once revitalized, First Savings was then acquired by a commercial bank holding company in April 1999. Kostakopoulos also formerly headed a commercial bank in New York.
http://www.ots.treas.gov/_files/77056.html
Dr. Kostakopoulos bought his first bank, the First Savings Bank at the Little Falls of New Jersey. And later on he sold this bank and founded the Fort Lee Federal Savings Bank in 2000 with his spouse.
http://www.turkofamerica.com/index.php?option=com_content&task=view&id=674&Itemid=57
In answer to the FDIC cease and desist of October 6, 2010 (1), it appears the board of director was planning a second office in Clifton, New Jersey at the beginning of last year. An article in turkofamerica.com titled "A Bank Born Out of Turkish-Greek Love..." also stated the bank was preparing to transfer its first office to a new building they bought in Fort Lee.
Yasemin and Dr. Haralambos S. Kostakopoulos
Yasemin Koyunoglu, the only Turk owning a bank in the US, and her husband Dr. Haralambos (Bob) S. Kostakopoulos (1973 graduate of Pace University) opened the doors of their new center to the Turk Avenue. Decorating their new office with nearly sixty marbling art pieces selected from the collection of marbling artist Kubilay Dincer of Turkey, the Kostakopoulos couple designed their floors with Turkish rugs.
"Having started their endeavor with a moderate size bank in Fort Lee ten years ago, Kostakopoulos couple says that they owe their strength in the face of economic crisis and mortgage crises to a planned and conscious strategy.
"The co-president of the Fort Lee Federal Savings Bank Yasemin Koyunoglu Kostakopoulos says, "What is important is not the number of banks; how much business you do. We took our steps slowly but sustainably."
http://www.turkofamerica.com/index2.php?option=com_content&do_pdf=1&id=674
It appears what took the bank down was not the loans to individuals, which their charter had stated was their main purpose, but commercial/industrial loans that went sour. In addition, non-current loans had grown from almost $2 million in 2009 to $3.88 million in 2010 and $4.02 in 2011. Current numbers for 2012 were not available on line.
Charge Offs---
2006 0
2007 $50,000 ($50,000 loans to individuals)
2008 $68,000 ($68,000 loans to individuals)
2009 $218,000 ($93,000 commercial/industrial loans, $87,000 1-4 family residential, $38,000 indiv.)
2010 $2.8 ($1.98 commercial/industrial loans, $678,000 loans to indiv. $205,000 1-4 family res.)
2011 $1.1 ($571,000 individuals, $475,000 auto loans, $96,000 other consumer, $54,000 1-4 fam.)
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.
As of December 31, 2011, Fort Lee Federal Savings Bank, FSB had approximately $51.9 million in total assets and $50.7 million in total deposits. Alma Bank will pay the FDIC a premium of 1.85 percent to assume all of the deposits of Fort Lee Federal Savings Bank, FSB. In addition to assuming all of the deposits of the failed bank, Alma Bank agreed to purchase approximately $15.7 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.0 million.
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Question: I believe I could be let go, I am not sure what the reasoning would be – what are your thoughts?
Answer: Employees are let go for a myriad of reasons but reasons typically falls under two - the health of the company or your individual performance or of course a combination of the two!
I do not know if you are in a sales role, but if the company is doing well as a whole, and an individual is not producing / not meeting goals and objectives set forth then termination is likely. I would discuss with managers / higher ups about unattainable production way before this could ever occur – be proactive. At the same time, I would not suggest complacency – push yourself to EXCEED goals and you will most likely never be terminated – UNLESS the company itself is not healthy; which is beyond your control. HOWEVER, if you are a true producer with good business to bring to another employer – you will have no problem securing a new role.
If you are in an operational role, and again the company is a healthy entity, the answer may be redundancy or non-performance / not meeting standards / expectations set forth. Also, note that there are many companies being acquired or merged, the acquiring company typically does not retain acquired employees – this again is beyond your control. Be proactive – see if you are able to gain cross-functional roles, exceed expectations, take classes, secure certifications, take languages, etc… becoming indispensable is your best defense against termination!
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The documentation of an equipment lease must follow the requirements of the Uniform Commercial Code (UCC). Perhaps the most important thing to understand is that two parties may enter into a contract to do just about anything. So long as the agreement does not cross any legal barriers both parties are expected to live up to the requirements of the contract. When a breach occurs (one or both parties fail to honor the contract) and a civil court action is required to settle the dispute, the contract, as written and signed, will be used by the judge to determine corrective action or penalties.
The contract must clearly state "do’s and don’ts," if the contract does not prohibit something, it is assumed the lessee has the right to do it. If the contract contains provisions that conflict with existing laws, it is said to be “unenforceable” An example: If a contract claims to be governed by Article 2A, of the UCC, and then contains a provision that excludes it from 2A then the provision claiming to be governed by 2A is unenforceable (not illegal).
The UCC, for Commercial transactions, is divided into Articles with each Article defining a type of business activity. Article 9 defines the requirements for money lending or secured lending. This Article acknowledges the borrower as the legal owner of the equipment and the lender as a lien holder. To “perfect,” or record a lien, the lender must file a recording document called a UCC-1. This UCC-1 must be filed in the State where the borrower has incorporated or registered to do business. If the borrower has an existing “blanket lien” (a lien on everything owned by the borrower) the new lender is restricted from having a first position and would be regulated to a secondary lien position in the case of a default. However, if the equipment is a new purchase and the lender has loaned the money to purchase it ,then Article 9 allows for a “purchase money lien filing” that will have first lien position in front of the blanket lien holder providing the purchase money filing is filed within twenty days of the borrower taking possession. This twenty-day requirement starts with customer possession—not the date of the signatures on loan documents. Therefore some record of delivery date needs to be retained in case of a court challenge in default.
Article 2A is for equipment leasing that is not a lending activity governed by Article 9. To distinguish the differences, the definition of an Article 2A transaction was published as an exception to a secured transaction and is found under the definition of a “Security Interest” as section (37). The reason for this article on leasing is to establish the rights of the lessor as the legal owner of the equipment. In the case of a third party lessor, it establishes procedures for the lessor to pass on to the lessee the supply contract; a term for the usual equipment performance guarantees and the warrantees from the vendor, seller. This limits the third party lessor from responsibility for equipment performance or liability for non-performance, or injury, from malfunction.
To qualify as an Article 2A lease and be judged by the contents of 2A the lease transaction must meet the definition or the qualifications in section (37). If the transaction fails then it is considered an Article 9 secured transaction and the lessor must contend with the lien filing requirements of this article to maintain their lien position. Most Lessors’ file a lien-filing document called a financing statement also called a UCC-1 as a precautionary measure because under the law the filling of a UCC-1 cannot be used as evidence the Lessor considered the transaction to be a loan. There is no requirement for a lien filing in Article 2A because the lessor is considered the legal owner. One difficulty presents itself when leasing non-titled equipment (personal or tangible property:) Without a lien filing, there is no location for a lessor to post a notice that the lessee is in possession of equipment that the lessee does not own. A potential purchaser finding no liens may assume the business asset is free and clear of all liens and the lessee has rights to sell it. This is one of the reasons for filing a UCC-1 or as some Lessor’s do, put labels or notices on the asset itself, stating “ This equipment is owned by ABC Leasing and may not be removed from this location without our permission. PH 123-456-7891.” Still, in many cases when assets are sold without the lessor’s knowledge and the buyers name is not recorded, many Lessor’s have little recourse in default situations except to take the Lessee to court for selling non owned assets.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at leaseconsulting@msn.com or 502-649-0448
Check your computer as hackers have already infected more than 570,000 computers worldwide, according to the FBI. The scam netted the hackers at least $14 million.
A few mouse clicks could mean the difference between staying online and losing your Internet connection.
The problem began when international hackers ran an online advertising scam to take control of infected computers around the world. In a highly unusual response, the FBI set up a safety net months ago using government computers to prevent Internet disruptions for those infected users. But that system is to be shut down.
Visit http://www.dns-ok.us/ to find out whether your computer is infected. It is quick and easy.
If you think your computer is infected, visit http://www.dcwg.org/fix/ to learn how to fix the problem.
Pizza consumption continues to rise. More than four in 10 (41 percent of) consumers polled say they’re now eating pizza once a week, compared to 26 percent just two years ago.
Pizza consumption has increased over the past two years as leading players revamp menus to include more innovative specialty pizzas, gourmet ingredients, and items beyond pizza that help operators drive traffic.
As increased consumer confidence leads some to trade up within the pizza category, others still feeling the pinch are attracted to the special offers and coupons that chains are rolling out, as well as generally less expensive, yet high quality, take-and-bake and frozen pizza offerings.
“Consumers increasingly view pizza as the go-to food when they don’t feel like cooking,” says Technomic Executive Vice President Darren Tristano. “Operators can emphasize convenience in their marketing message, positioning pizza as an easy, convenient, and affordable meal solution that will appeal to an entire group or family. It's a message that resonates with many customers.”
To help operators and others aligned with the foodservice industry more effectively identify opportunities for growth and gain a competitive advantage, Technomic has developed the Pizza Consumer Trend Report.
Interesting findings include:
•Combo-meat varieties and calzone-style stuffed pizzas stand out as growth areas at limited-service restaurants. At full-service restaurants, there has been slight growth in the number of veggie/garden and combo-meat pizzas.
•Chicken’s adaptability contributes to its widespread use as the top-listed protein topping in the full-service segment and third most-frequently listed protein in limited-service, largely due to barbecue and Buffalo chicken varieties.
•The latest menu trends call for authenticity, from Neapolitan, Sicilian, and other regional Italian interpretations to depth-of-flavor preparations, such as hearth-baked, wood-fired, coal, and brick-oven cooking.
•Thirty-seven percent of respondents order pizza from non-pizza limited-service and fast-casual restaurant locations once a month, signaling room for growth for these concepts and a potential threat for limited-service pizza chains.
•Forty-nine percent of consumers are purchasing pizza from a grocery store once a month, making it the second leading foodservice source for pizza, surpassed only by limited-service pizza restaurants (71 percent).
•All foodservice pizza purchases have increased over the past two years, but carryout and dine-in pizza occasions have increased the most: 68 percent of consumers now order carryout pizza once a month or more, followed by 45 percent who say they order pizza for dine-in.
More on the restaurant trend: http://bizmology.hoovers.com/2012/04/11/new-hoovers-infogr
(Tie) (1) Greg Wells/Tamara McCourt, CLP---Out at Five Point Also Michael Losey and Jason Norton released
http://leasingnews.org/archives/Apr2012/4_18.htm#five_point
(Tie)(1) The Dave Murray Connection by Kit Menkin
http://leasingnews.org/archives/Apr2012/4_18.htm#murray
(2) The Changing Leasing Employment Picture http://leasingnews.org/archives/Apr2012/4_18.htm#employment
(3) 24th Annual ELFA National Funding Conference ---Reported by Bruce Kropschot, The Alta Group
http://leasingnews.org/archives/Apr2012/4_20.htm#elfa
(4) TCF Has $282.9 Million Loss 1st Quarter http://leasingnews.org/archives/Apr2012/4_20.htm#tcf
(5) New Hires---Promotions http://leasingnews.org/archives/Apr2012/4_20.htm#hires
(6) Top Ten Beaches in the United States http://leasingnews.org/archives/Apr2012/4_20.htm#beaches
(7) Leasing 102 by Mr. Terry Winders, CLP Sales Record Keeping for the Salesman
http://leasingnews.org/archives/Apr2012/4_18.htm#record
(8) Small Illinois town rocked by $30 million CFO theft case http://www.chicagotribune.com/news/local/ct-met-dixon-comptroller-embezzle-charges-20120418,0,5457912.story
(9) April 30, 2001 Archives
---eLeasing software
http://leasingnews.org/archives/Apr2012/4_20.htm#archive
(Tie) (10) Bank of Ozark Top Dog SNL's 2011 regional bank ranking
http://leasingnews.org/archives/Apr2012/4_18.htm#snl
(Tie) (10) TimePayment/Microfinancial $2 MM Net 1st Quarter http://leasingnews.org/archives/Apr2012/4_20.htm#micro
English Labrador Retriever Mix Salt Lake City, Utah-- Adopt-a-Dog
Celeste
Pet ID: 4464876
Spayed
Up-to-date with routine shots
House trained
Female
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Second Chance for Homeless Pets, Salt Lake City, UT
801-590-8999
adopt@utahpetadoptions.org
Visit our website at www.utahpetadoptions.org Second Chance for Homeless Pets is a no-kill, non-profit animal rescue. We get most of our pets from animal control shelters, when they run low on space. We have a facility located in Salt Lake City at 200 E. Gordon Lane (4180 S.) Our regular business hours are Tuesday thru Saturday: 9am-7pm, Sunday: 11am-4pm, Monday: By Appointment Only. Stop by during our regular hours or Call for an appointment 801-590-8999. We run strictly from private donations, all donations may be sent to:
Second Chance for Homeless Pets
200 E. Gordon Lane
Salt Lake City, UT 84107
Leasing Industry Outsourcing
(Providing Services and Products)
Back Office: Atlanta, GA Let Tax Partners handle your sales and use tax compliance duties w/less risk and cost than in-house. Largest tax compliance firm
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Backoffice: Dallas, TX Property Tax and sales and use tax administration services performance is guaranteed and we will save you time and money or our service is free.
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Back Office: Gig Harbor, WA
Orion First Financial provides comprehensive lease/loan account servicing, collection/workout solutions and strategic advisory services. Contact David T. Schaefer 253-857-9610 dtschaefer@orionfirst.com
Back Office: Laughlin, NV 20 years experience on funder/broker sides. Looking for a relationship where I act as credit shop for smaller brokers when financial statements are involved.
E-mail:batarista@laughlin.net
Back Office: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available,
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Back Office – National
Spending too much time on processing credit applications, preparing lease documents and other administrative tasks and not enough time marketing and growing your business? Call us! 407.964.1232 dee@leasebrokerassistant.com
Backoffice: New Rochelle, NY Proactive management/administration of commercial/consumer vehicle lease/finance portfolios covering insurance, titles,
registrations, sales/property taxes, tickets, collections, accounting, vehicle disposition. Since 1975
E-mail: Barrett@BarrettCapital.com
Back Office: Northbrook, IL Our staff of CPA's and lease professionals can handle any or all portfolio responsibilities incl. portfolio mgmt, invoicing, sales/property/income tax, accounting, etc. 800-826-7070
E-mail: ngeary@ecsfinancial.com
Back Office: San Rafael, CA We can run your back office from origination to final payoff. 30 years experience in commercial equipment lease and loan portfolio management.
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Back Office - Portland, OR Keep more of your hard-earned commissions! Middle-Market, Small-Ticket for brokers, nationwide, 20+years experience, negotiable splits. Contact us for more information at (888)745-9481 or bev@alliedpacific.net
Back Office -Portland
Portfolio Financial Servicing Company is a leading provider of private label primary and backup servicing for lease and loan contracts. 800-547-4905 sales@pfsc.com
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Servicing without all the subcontracting. Payments, billing, collection, legal, recovery, accounting, tax. Leading systems; highly recognized professionals. Call 855.EENGINE http://lendersolutions.equipmentengine.com
All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date: http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad: http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
Let me not to the marriage of true minds
Admit impediments. Love is not love
Which alters when it alteration finds,
Or bends with the remover to remove:
O no! it is an ever-fixed mark
That looks on tempests and is never shaken;
It is the star to every wandering bark,
Whose worth’s unknown, although his height be taken.
Love’s not Time’s fool, though rosy lips and cheeks
Within his bending sickle’s compass come:
Love alters not with his brief hours and weeks,
But bears it out even to the edge of doom.
If this be error and upon me proved,
I never writ, nor no man ever loved.
1564-birthday of Williams Shakespeare: perhaps the first non-American birthday we celebrate here. Shakespeare created the most influential and lasting body of work in the English language, an extraordinary explanation of human nature in 36 plays and 154 sonnets. Also died on what is considered historically his birthday,
23 April 1616. http://www.shakespeare.org.uk
1635- the first public school in America opened, the Boston Latin School . The first schoolmaster was a Dutchman, Adam Roelantsen, who arrived in New Amsterdam in 1633 and set up the first school in America as part of the Dutch Reformed Church. The first secondary school was the Boston Latin School , with a classical curriculum derived from English schools. By 1720, five public schools were maintained in Boston , and were so well regarded they enrolled students from as far away as the West Indies . The Boston Latin School is still in existence.
1662 - Connecticut was chartered as an English colony.
1750-- The first colonial settlement west of the Allegheny Mountains other than military forts and outpost was established by the Loyal Land Company of Virginia . On March 6, a group of six men in the employ of the company, led by Dr. Thomas Walker, a physician, started out from Charlottesville , VA. They searched the future sit of Barbourville , KY , on April 23, and built a house that was completed on April 30.
1789 - President-elect Washington and his wife moved into the first executive mansion, the Franklin House, in New York. George Washington was inaugurated at Federal Hall and lived at 3 Cherry Street in New York City. In 1790, with construction on the new federal capital underway, the government was moved temporarily to Philadelphia, where Washington served out his two terms. He is the only president who never resided in the White House.
1791- The birthday of James Buchanan, 15th president, born at Cove Gap, PA, who served from March 4, 1857 to March 3,1861,the only president who never married.
1813-birthday of Stephen A. Douglas, U.S. Congressman, Senator and presidential candidate who ran against Abraham Lincoln. He was in favor of the new territory and states being allowed to choose whether they wanted to be “slave” or “anti-slave states.” He is also very well known for the series of “Lincoln-Douglas” debates. http://memory.loc.gov/ammem/today/apr23.html
1856- Granville T. Woods was born at Columbus , OH . Known as the” black Thomas Edison,” he invented the Synchronous Multiplex Railway Telegraph which allowed communication between dispatchers and trains while the trains were in motion, which decreased the number of train accidents. In addition, Woods is credited with a number of other electrical inventions and historians do compare him favorably to Thomas Edison. Died Jan 30, 1910, at New York , NY .
1872-Charlotte E. Ray became the first African-American woman attorney admitted to the Washington Bar, o the Supreme Court of the District of Columbia . History also records her as the first African-American woman to receive a law degree, receiving her LL.B. degree from t e School of Law , Howard University, Washington, DC, on February 27, 1872. She opened a law practice, but both racial and woman prejudice forced her to close the office. She then joined the Woman's Suffrage Movement. http://www2.lhric.org/pocantico/womenenc/ray.htm http://womenshistory.about.com/library/bio/blbio_ray_charlotte.htm
1885 - The city of Denver, CO, was in the midst of a storm which produced 23 inches of snow in 24 hours, and at Idaho Springs CO produced 32 inches of snow.
1896- The first movie was shown at Koster and Bials Music Hall in New York City . Up until this time, people saw films individually by looking into a Kinetoscope, a box-like "peep show." This is the first time an audience sat together and watched a movie together. What they saw was a series of short scenes, including a ballet scene, a burlesque boxing match, surf breaking on the shore, and a comic allegory entitled," The Monroe Doctrine." Thomas Alva Edison was present for his Vitascope and the audience called for Edison , but he did not appear and refused to take a bow.
1907 - The steam laundries of San Francisco and vicinity, with the exception fo a few, remain on strike after more that four weeks. Soiled linen is becoming a serious problem in many households. The few laundries that are in operation were unable to call for or deliver washing. Patrons who took their wash to the laundries returned with the dirty linen. The strike does not appear mearer a settlement than it was three weeks ago.
1907 - Jack Londond, on board his yacht the Snark, pulled out into the harbor from the Franklin Street wharf at 12:30 today amid the cheers of is frineds and admirers. He stood on deck with his wife and small crew.
1910 - The temperature at the Civic Center in Los Angeles, CA, hit 100 degrees to establish an April record for the city.
1915-birthday of pianist-arranger Joe Lippman Boston , MA .
1920-- Canadian string instrument builder Frank Gay was born in Marcelin, Saskatchewan. In 1953, Gay established a studio in Edmonton, building guitars for such famous country stars as Johnny Cash, Don Gibson and Hank Snow. Three of Gay's guitars - those owned by Johnny Horton, Webb Pierce and Faron Young - have been placed in the Country Music Hall of Fame in Nashville.
1921-birthday of baseball Hall of Fame pitcher Warren Edward Spahn, Buffalo , NY.
1928---Birthday of Shirley Temple (Black) - child movie star who was Hollywood's greatest box-office attraction by the age of seven. She danced, sang, acted, and beguiled in one escapist, musical hit after hit during the darkest days of the depression. By age 12 her appeal dropped and after a series of flops she retired. In later years she became the darling of the Republican Party and was appointed to political and/or ambassadorial posts by three Republican presidents, Richard Nixon, Gerald Ford, and George H. Bush, but surprisingly not by Hollywood's own Ronald Reagan. She was appointed a U.S. Ambassador to Ghandi and chief of protocol under President Gerald Ford and then ambassador to Czechoslovakia 1989 to 1992 by Bush I.
1932-Bing Crosby records “Sweet Georgia Brown” with Isham Jones Band.
1936- Pioneer rock singer Roy Orbison was born in Vernon, Texas. His writing and performing in the 1950's helped create a mass market for rock music, including his own recording of "Ooby Dooby," which was a moderate hit in 1956. In 1958, Orbison wrote "Claudette," named for his wife, which became a million-seller for the Everly Brothers. Roy Orbison's sound mellowed somewhat in the following decade, and he began his string of million-sellers in 1960 with "Only the Lonely." His other hits included "Running Scared," "Crying" and "Oh, Pretty Woman," a number-one record in 1964. Orbison suffered two personal tragedies in the '60s. In 1966, his wife was killed in a motorcycle accident. Three years later, two of his three children died in a fire at his home near Nashville. Orbison's career took an upswing in 1988 when his collaboration with Bob Dylan, George Harrison and Tom Petty under the name http://www.orbison.com/ http://www.hotshotdigital.com/OldRock/RoyOrbisonDisco.html
1941 - Birthday of Allen Cohen. Poet, editor of San Francisco Oracle, visionary, champion for peace and justice who inspired his generation. Allen died April 30, 2007. The memory of Allen Cohen will forever live in the hearts of those who loved him and all whose lives he touched with his poetry and his promotion of peace and love.
1942--Birthday of Sandra Dee, singer/actress/heart thrub to a generation.
1943 - The Earl "Fatha" Hines Band, featuring then-unknowns Dizzy Gillespie, Charlie Parker, and a vocalist named Sarah Vaughan, begins a series of engagements at the Apollo in Harlem.
1944 – birthday of Tony (Anthony James) Esposito (Hockey Hall of Fame player: NHL: Montreal Canadiens, Chicago Blackhawks [Calder Memorial Trophy: NHL's outstanding rookie: 1969-1970/all-star: 1970, 1972, 1980/shared Vezina Trophy for best goaltender [1972, 1974]; played 886 games in NHL, winning 423, losing 307, earning draw in 151; 76 shutouts with a 2.92 goals-against-average; in 99 playoff games, Tony won 45, lost 53 with a 3.07 average; shared goaltending duties with Ken Dryden in 1972 when Team Canada played the Soviet Nationals in famed Series of the Century [Canada edged Soviets, four games to three w/one tied]; brother of Hockey Hall Fame player, Phil Esposito) http://www.legendsofhockey.com
1944 – Birthday of Marty Fleckman (golf: Univ. of Houston : [3 NCAA championship teams/individual title: 1965: two-day total of 135/All-American: 1965/medalist honors at Western Amateur: 1966/Walker Cup team: 1967]; pro: Cajun Classic champ: 1967; golf teacher: Meyer Park Golf Course, Houston)
1948-Johnny Longden became the first race jockey to ride 3,000 career winners as he set the mark at Bay Meadows in San Mateo, CA.
1950-- CBS-TV premieres The Gene Autry Show.
1951--Chuck Berry releases "Maybellene"
1951-- Rosemary Clooney's "Come On-A My House" hits #1
1953---Top Hits
Doggie in the Window - Patti Page
Pretend - Nat King Cole
I Believe - Frankie Laine
Your Cheatin’ Heart - Hank Williams
1954-Henry Aaron of the Milwaukee Braves hit the first home run of his major league career. It came against Vic Rosdchi of the St. Louis Cardinals in the Braves' 7-5 victory.. Not only did he raise the bar for home runs, but he also established 12 other major league career records, including most games, at-bats, total bases and RBI's. Aaron won three Gold Glove awards, earned National League MVP honors in 1957, and appeared in a record 24 All-Star Games. Aaron went onto hit 755 homes, more than any other player. Television commercial depict Barry Bonds chasing his record, and Aaron trying to frustrate him at batting practice.
1954-the NBA approved a proposal by Syracuse Nationals owner Danny Biasone to adopt a 24-second clock. The rule stated that “a team in control of the ball must make an attempt to score within 24 seconds after gaining possession of the ball.” Biasone promoted the rule to boost the league's offensive output. He decided on 24 seconds by dividing the total number of shots taken in an average game into 48 minutes, the time played in regulation game.
1956 - High on his recent successes, and at the insistence of Colonel Tom Parker, Elvis Presley begins a disastrous concert stint at the Frontier Hotel in Las Vegas where he opens for comedian Shecky Greene. Despite having "Heartbreak Hotel" at the top of the charts, the middle-aged audience, miles removed from Elvis' teen fan base, are completely indifferent to him, and his contract is soon torn up after only one week of a two-week engagement. However, while there, Presley witnesses a band called Freddie Bell and the Bellboys doing a wild rave-up version of Big Mama Thornton's blues hit "Hound Dog." He soon works it into the live act. Presley wouldn't play Las Vegas again for almost 13 years.
1960-Herman's Hermits released a song called "My Sentimental Friend", which would become a major European hit, reaching number two on the UK pop chart. In the US however, the band was now hopelessly out of style and one of the best songs they ever recorded was ignored completely.
1963-- High school student Neil Young and his band, the Squires, enter a Winnipeg, Manitoba, Canada studio to record their first single, a surf instrumental called "The Sultan."
1961---Top Hits
Blue Moon - The Marcels
Runaway - Del Shannon
Mother-In-Law - Ernie K-Doe
Don’t Worry - Marty Robbins
1963 - Jan and Dean record "Surf City"
1963 - Pete Rose of the Cincinnati Reds got his first hit in the major leagues. It was a booming triple off the Pirates' Bob Friend. ‘Charlie Hustle' went on to break Ty Cobb's all-time hitting record more than 20 years later, playing for the Reds, the Phillies and the Expos. He was later banished from baseball for illegal betting.
1964 - Ken Johnson of the Houston Astros will certainly never forget this day. Johnson tossed the first no-hit game -- for a loss -- in baseball history. Cincinnati's Reds beat Johnson's no hitter by a score of 1-0. The Reds capitalized on two costly Houston errors.
1966-- Napoleon XIV's "They're Coming To Take Me Away, Ha-Haaa!" hits #1
1966-- Frank Sinatra's Strangers in the Night LP hits #1
1966-- Roger Miller's "You Can't Roller Skate In A Buffalo Herd" enters the charts
1966 -- President Lyndon Johnson publicly appeals for more nations to come to the aid of South Vietnam.
1969 - Top Hits
Aquarius/Let the Sun Shine In - The 5th Dimension
You’ve Made Me So Very Happy - Blood, Sweat & Tears
It’s Your Thing - The Isley Brothers
Galveston - Glen Campbell
1970 -Show: Joe Cocker (Mad Dogs and Englishmen), Van Morrison, The Stoneman, Metro Toll, Fairport Convention, Salt 'N Pepper, Clouds, Dry Paint, Brotherhood of Light, Little Princess #109 perform at the San Francisco Fillmore West Artist:David Singer.
http://images.wolfgangsvault.com/images/catalog/thumb/BG229-231-PC.jpg
1970-Norman Greenbaum's "Spirit in the Sky" is awarded a Gold record. The single sold two million copies in 1969 and 1970 and reached number three in the US and number one in the UK.
1977-- Thelma Houston's "Don't Leave Me This Way" hits #1
1977---Top Hits
Don’t Leave Me This Way - Thelma Houston
Southern Nights - Glen Campbell
Hotel California - Eagles
She’s Got You - Loretta Lynn
1985 - The Coca-Cola Company of Atlanta, GA, told the world in a barrage of advertisements that it was changing its 99-year-old secret formula. New Coke was called “the most significant soft drink development” in the company's history. The public did not like it. Fans of the original Coke were instrumental in bringing Classic Coke back. The Coca-Cola did keep the “new” diet Coca-Cola. This year they started introducing cherry coke, lemon coke, and this summer, vanilla.http://memory.loc.gov/ammem/ccmphtml/colahome.html http://www.coca-cola.com/
1985 - Top Hits
We are the World - USA for Africa
Crazy for You - Madonna
Nightshift - Commodores
I Need More of You - Bellamy Brothers
1987 - "Business Week" magazine announced its list of the highest paid executives in the U.S. Lee Iacocca of Chrysler Corporation topped the list, followed by Paul Fireman of Reebok International. The computer revolution did not begin until the 90's, knocking most automobile executives way off the charts.
1988-the smoking ban on airplane flights went into effect. In compliance with rules issued by the Federal Aviation Administration, airlines banned smoking on domestic passenger flights lasting less than two hours, with the exception of chartered flights and travel club flights. Northwest Airlines voluntarily banned smiling on domestic passenger flights of all durations. The first commercial domestic air service that was entirely smoke-free, including the cockpit, was inaugurated by Delta Air Lines of Atlanta, GA, which banned smoking on all flights beginning January 1995. Other airlines adopted this policy in the following year.
1988 - An intense winter-like storm brought thunderstorms to southern California, and produced snow in some of the higher elevations. Nine girls at Tustin CA were injured when lightning struck the tree under which their softball team had taken shelter from the rain.
1989 - Salina, KS, was the hot spot in the nation with a high of 105 degrees. The high of 105 degrees established an April record for the state of Kansas. A total of eighteen cities in the central U.S. reported record high temperatures for the date.
1989 - "Baywatch" premiered on television . Set on a California beach, this program starred David Hasselhoff and a changing cast of nubile young men and women as lifeguards. Later the program was moved to Hawaii; the last episode was made in 2001. The most widely viewed TV series in the world, the program aired in 142 countries with an estimated weekly audience of 1.1 billion.
1989 - Salina, KS, was the hot spot in the nation with a high of 105 degrees. The high of 105 degrees established an April record for the state of Kansas. A total of eighteen cities in the central U.S. reported record high temperatures for the date.
1994 - Discovery of the top “quark.” Physicists at the Department of Energy's Fermi National Accelerator Laboratory found evidence for the existence of the subatomic particle called the top quark, the last undiscovered quark of the six predicted to exist by current scientific theory. The discovery provides strong support for the quark theory of the structure of matter. Quarks are subatomic particles that make up protons and neutrons found in the nuclei of atoms. The five other quark types that had already been proven to exist are the up quark, down quark, strange quark, charm quark and bottom quark. Further experimentation over many months confirmed the discovery and it was publicly announced Mar 2, 1995.
1999-- Fernando Tatis becomes the first player in major league history to hit two grand slams in one inning. The Cardinal third baseman hits both off Dodger starter Chan Ho Park in an 11-run third setting the major league mark. His eight RBIs in one inning also breaks the old record of six.
Stanley Cup Champions This Date
1950 Detroit Red Wings
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
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