Balboa Capital, Irvine, California
Bulletin Board Complaint #11 Posted
by Christopher Menkin, editor

This complaint was "settled"; however with the opening of a new complaint, the procedure is "Should a new complaint be posted, previous complaints that have not been posted, or removed as the matter has been satisfied, may be re-instated as per policy regarding the postings."
   -www.leasingcomplaints.com

This complaint also brings again one of the matters that is brought up by many making a complaint about Balboa to Leasing News:
having a side letter to the “fair market value” on the face of the contract as well as an Evergreen continuation of payments. In this case Mr. and Mrs. Burton, Burton Lumber Co., Inc., Lexington, Indiana, thought the lease was a $1.00 purchase option. This has happened before with Balboa, including one where the lessee produced a copy of the form he sent in with the contracts (he copied all he sent) but never noticed he did not receive a signed copy of this back. Balboa said the machinist forged the document.(1)

In this instance, the original proposal had "bargain purchase option" on it (2). The actual contract had "fair market value." (3) As the Burton's thought there was another form, they did not that the both the proposal and the "fair market value" had the same monthly payments. There was no change in what was originally proposed. The proposal “bargain purchase option” and “fair market value” contract have the same lease payment.

This is also an example of the continuing payments following the Evergreen Clause without notifying the lessee.

From Travis Burton:
"...around May or June and Julie tried to find out what was going on because I knew the lease was up. They told here we still owed a few more payments and we were not receiving bills or anything...nobody else would provide us any information and we never received any information when we asked. They just kept saying lease was not paid in full. I look back now and see that they didn't want to do anything to address us because they started doing auto withdraws from our account When we tried to ask for a printout of what was owed nobody would ever send us anything. I started noticing in November that we were getting with draws and when we to question they were telling us the lease was not pd. Not until end of January did we finally speak to **** who informed Julie what was going on and told her about fair market buyout.

February 25, 2013 they received this email:

"To: 'Burton Lumber' <burtonlumberco@aol.com>
Sent: Tue, Feb 26, 2013 2:12 pm
Subject: RE: Lease Agreement 131063-001

After a preliminary review of the equipment the current fair market value of the equipment is $28,000. Once the final payment is made we will re-evaluate for the amount. Please be aware the Lease is still in default and as of 3/1/13 Balboa Capital will forward the file to our Legal department and authorize litigation if the default has not been resolved."

By the time Leasing News got involved, there was an agency trying to pick-up the equipment.

There were there were "11 extra payments with each payment being $2161.34 deducted from checking account. Total amount in extra payments $23,774.74."

There also was a $3,758.96 or $751.32 documentation fee. (4)

There were also property tax, and a termination fee, not covered in the contract.

There were two other issues, including the justification of the "fair market value" and an issue that the proposal was issued in Arizona, although the contract had no address. Balboa Capital was not licensed under the Arizona Department of Corporations for receiving an Advance Fee (5)

After numerous attempts and communication, Robert J. Rasmussen, COO, wrote:

"In regards to the Burton Lumber transaction we intend to hear the customer out and treat him fairly as we attempt to do with all of our clients.

"While I appreciate the gesture to be involved and with all due respect, given our history, we find it hard to believe that you could be a neutral party.

"We will work directly with the customer. To the extent that he wants you to be involved then that is his prerogative."

He stated he contacted the Arizona Department of Financial Institutions and was told because it was a "commitment fee," they did not need to be licenses as an Advance Fee Loan Broker.

A call to the supervisor of the department read the law and as both for the lease and the proposal, commitment fee is defined as an "Advance Fee." The way to resolve it, was to have the lessee file a complaint and they would issue a finding. The penalty for not being licensed could be up to $5,000 a day, Leasing News was told.

We contacted the Arizona Department of Financial Institutions (AFDI) which is the entity responsible for licensing Advanced Fee Loan Brokers in the state of Arizona in order to clarify whether Balboa is considered an Advanced Fee Loan Broker as defined by applicable AZ statutes.

In the course of the conversations, Leasing News was told that Balboa Capital was going to waive the residual and all costs in the payoff with the settlement to become confidential (6)

(1) Unsigned addendum
http://www.leasingnews.org/archives/August%202008/08-25-08.htm#bbc

(2) Balboa Lease Commitment
http://www.leasingnews.org/PDF/BalboaLeaseCommitment_42013.pdf

(3) Fair Market Lease Contract
http://www.leasingnews.org/PDF/FairMarketValueLease_42013.pdf

(4) Payments made
http://www.leasingnews.org/PDF/Paymentsmade_42013.pdf

(5) Advance Fee Loan Regulations
http://www.azleg.gov/ArizonaRevisedStatutes.asp?Title=6

(Other Balboa Capital complaints located)
www.leasingcomplaints.com

 

 

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Vehicle Leasing Conference Finds Daylight
By Edward P. Kaye
Advantage Funding

Lamborghini Veneno $3,900,000. The Veneno gets you from 0 to 60 mph in a swift 2.8 seconds allowing you to hit a top speed of 221 mph. Only three cars are being made available every year. If you want to lease this hyper-supercar, you will have to be placed on a waiting list along with other aficionados.

The Road to Success Leads to Light at the end of the Tunnel

FT. WORTH, TEXAS,– Nobody stumbles into the National Vehicle Leasing Association’s (NVLA) annual conference by mistake, but for the 100 plus attendees that journeyed deep in the heart of Texas the conference was well worth the trip.

Marking its 45th annual conference since the Association’s creation, this year’s edition was driven with the tag line, “Road to Success.” For an industry that has been battered by the Great Recession, it is an uphill winding and bumpy road, covered with pot holes, but clearly on the mend.

Possibly the strongest indicator that the industry is on the mend is the number of funders that attended the conference this year. At least six funders, banks and independent finance companies attended prospecting for business.

Steven C. Jason
VP Signature Financial
Director Vehicle Finance

“I’m here to introduce Signature Financial to the leasing community and expand our offerings to NVLA members,” said Steven C. Jason, Vice President of Signature Financial, Director of Vehicle Finance. New York based Signature Financial provides recourse and non-recourse lines of credit to vehicle and equipment lessors.

Jack Tracey
NVLA Executive Director

“This Association provides value and networking ability,” stated Jack Tracey, the NVLA Executive Director since 2010. While membership in the Association and attendance at its annual conference has sharply declined, those members in attendance were provided many opportunities to participate in educational seminars and networking events.

Sponsored in part by Ford, GM, Kelley Blue Book, banks and industry related vendors, this year’s two day conference was split in two tracks, one for the general automotive leasing industry and a second track for the Lease Here Pay Here industry. “Lease Here Pay Here” is a deep subprime auto leasing alternative to the “Buy Here Pay Here “industry.

Since “Lease Here Pay Here” is an attractive business model to many independent lessors forced to adapt to economic conditions and it is fraught with many technical, legal, and accounting nuances, the Association determined a full day track of seminars was warranted. The seminars, led by industry experts, focused on taxes, legal issues, operations, residual setting, insurance, and funding.

Terry Bowdler
NVLA Program Director

“I was pleased with the turnout for the ‘Lease Here Pay Here’ track and received a lot of positive feedback from many attendees,” stated Terry Bowdler, the program director of the “Lease Here Pay Here” track and an industry consultant.

“We’re here to try to evaluate the risks of getting into the space,” said Brad Fisher, Senior Vice President, Lender Finance, of Texas Capital Bank. Texas Capital Bank currently provides financing to “Buy Here Pay Here “dealers nationwide but does not offer lease financing.

The conference also reintroduced its Certified Vehicle Leasing Executive (CVLE) program. Comprised of six modules, two live and four online, this program will enhance the skills of leasing company principals and management, provide insight, prepare the participant to take control of operational issues and develop capabilities. The successful completion of the courses earns the attendee the right to use the respected CVLE designation. 

The final order of business during the conference was to elect a new association president. Patrick (P.J.) McMahon of McMahon Automotive Group of Norristown, Pennsylvania was unanimously elected president. “I’m a proud member of this organization, it’s helped me in my business for many years, and now it’s my turn to give back,” he stated.

Based on attendance and comments from the industry and conference participants, the road to success is heading towards light at the end of the tunnel -- and it appears to be sunlight, not oncoming traffic.

----------------------

The National Vehicle Leasing Association is a member-based organization representing the vehicle leasing industry - from automobile dealerships to independent vehicle lessors, to banks and suppliers. The NVLA hosts educational programs and annual conferences, produces informative publications and represents the vehicle leasing industry through legislative advocacy. The NVLA is also a forum for members to discuss vehicle leasing ideas and information and for collaborating with industry experts.

Edward P. Kaye is president and CEO of Advantage Funding, a non captive financing and leasing company to the ground transportation industry and a subsidiary of Marubeni America Corporation, the multinational general Japanese trading company. He was also a conference speaker and attendee.

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Story Credit Lessors
---Up-Dated

These companies specialize in "C" and "D" credits, often new businesses, or businesses where the principal(s) have Beacon score around 600 or previous difficulties; meaning to become comfortable with the credit and financial situation you need to learn the "story" to make a positive decision, often requiring further security, shorter term, or additional guarantors. Many of these companies may also have programs for “A” and “B” rated companies, but their specialty is not being a “cookie cutter” and often require full financial statements and tax returns as well as a “story about the company, its history, goals, circumstances” to fully understand the full financial picture.

Also listed below the dollar amounts are companies that who are known for accepting "subprime leasing."

To qualify for this list, the company must be a funder (as qualified by Leasing News and on the “Funder List” and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News, as well as notifying lessees in advance when the lease will end and what the residual will be, specifically not automating extra lease payments, or insisting their discounter follow the same policy. We reserve the right to not list a company who does not meet these qualifications.

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged.

Alphabetical list - click on company name to view more details
Advantage Funding Agility Ventures Allegiant Partners Incorporated American Leasefund, Inc.  Bankers Capital  Black Rock Capital BSB Leasing, Inc	Calfund, LLC Dakota Financial Financial Pacific Leasing Forum Financial Services, Inc. Gonor Funding Harris Leasing Company  Maxim Commercial Credit National Machine Tool Financial	Northwest Leasing Company, Inc.  Pawnee Leasing Corporation P&L Capital Corporation  Standard Professional Services, LLC Summit Leasing, Inc. TEAM Funding Solutions

Story Credit Lessors
http://www.leasingnews.org/Story_Credit/Story_Credit.htm

“Tips for Online Job Searching”
Career Crossroad---By Emily Fitzpatrick/RII

Question: Can you give me some tips regarding online job searches?

Answer: On-line job hunting can be daunting and time-consuming. Be prudent, if you drop all your other approaches and focus solely on exploring the Internet – you won’t be acting in your best interest. A major concern is security and confidentiality: on-line privacy is an issue for everyone using the Internet; confidentiality is an important issue for your well-being (current employers may find out you are searching!).

Many online job boards promise job seeker confidentiality. However, you sometimes reveal yourself through an email address or through information on your resume / cover letter that you forgot to remove.

--- Create a private email account and create a professional address (please – NO Hottie@gmail.com) – personally I have seen some very inappropriate addresses

Sanitize your resume:

• Replace name and contact information with “Confidential Candidate”

• Remove your phone and only use your newly set up professional email address

• Remove all current employer contact info (name, city, state)

• Not necessary to remove your previous employer information

• On your Cover Letter – set the reader up by indicating you are conducting a confidential search

---- Create a short list of Internet resources that will best suit your goals

If uploading your resume (in addition to sanitizing the resume)

• Use a plain font

  Avoid italics, underlining, script, etc…

• Use plenty of white space

• Do not include large paragraphs of text

• Use upper / lower case to differentiate headings

For more tips, please contact us at info@riirecruit.com

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

Leasing Industry Help Wanted

 

  

Broker/Lessor Relationship Manager Canada Responsible for the development and maintenance of all broker/lessor relationships for Financial Pacific Leasing located in Canada. Promote the FinPac product and develop new sources of business. Work remotely from your location in Canada with periodic travel within Canada and Seattle, WA. Base salary plus commission plan. Please click here for more information. www.finpac.com Since 1975 serving the broker/lessor industry in the $5,000 to $50,000 marketplace.

 

 

Please see our Job Wanted section for possible new employees.

Caterpillar’s Junior Lien Prevails Over Senior Lien
of Bank Because Senior Bank
Doesn’t Obtain Security Agreement
By Tom McCurnin
Leasing News Legal News Editor

Peoples Bank, Which Was Senior By Subordination Failed to Obtain Underlying Loan Documents And Could Not Prove Its Security Interest.

Caterpillar Financial Services v. Peoples National Bank, 710 F.2d 691 (6th Cir. 2013).

“When you’re hot, you’re hot. When you’re not, you’re not.”—Jerry Reed, American country musician.

After years in banking, I’m aware that some bankers view UCC-1 Financing Statements like negotiable instruments of title, that can traded, bought and sold in the open market. What they fail to realize is that the UCC-1 is merely evidence of the filing of a security interest, not the security interest itself. The other parts of the security interest include the obligation (the note, lease or contract) and the pledge of the security interest (security agreement).

In today’s case, the bank purchased a senior lien, and of course, got the UCC-1, but failed to obtain the obligation or the pledge, and when it came time to proving a security interest was empty handed. It lost $1.4 million dollars. It couldn’t get worse for the bank—Check That—Yes it could, the bank had repossessed the collateral, then sold it and pocketed the proceeds. Caterpillar was awarded $2.4 million dollars in damages. The facts follow:

The debtor in today’s case was S Coal Company, which financed mining equipment through EFAs and leases. In 2005, Peabody Energy loaned S Coal an unknown 7 figure sum secured by all its equipment. Peabody filed a UCC-1. In 2006, Caterpillar came along and loaned S Coal $7 million dollars secured by S Coal’s equipment, and duly filed its UCC-1. In 2008, Peoples Bank loaned S Coal $1.8 million dollars, and duly filed its UCC-1 on all of the debtor’s equipment.

So at that instant, Peabody was on 1st, Caterpillar was on 2nd and Peoples Bank was on 3rd.

Peoples Bank did a UCC search and saw both the Caterpillar and Peabody UCC-1 filings, so in a stroke of genius, purchased the interest of Peabody, through a subordination agreement. Peoples Bank did not obtain the security agreement, nor the loan documents. The case does not explain why. Peoples Bank believed that it had just leapfrogged Caterpillar and was now in 1st place.

When S Coal defaulted, Peoples Bank stepped in and repossessed the equipment over the objection of Caterpillar, who claimed to be in 1st position. Not so, said Peoples Bank who waved their subordination agreement, which should have put the pecking order as follows: Peoples, Caterpillar, and Peabody. Peoples Bank was so confident that it sold the equipment for $2.5 million dollars, and pocketed all but $1.1 million dollars, which it gave to Caterpillar, who did not cash the check. Caterpillar sued Peoples Bank in United States District Court.

The case went to trial and the trial court ruled that Peoples Bank had the burden of proving its security interest, and if it was going to claim priority because of the subordination of Peabody, then it had to prove Peabody’s security interest. As stated, Peoples Bank did not have Peabody’s security agreement, nor did it have the loan documents. Although Peoples Bank subpoenaed Peabody, but it did not produce the underlying loan obligation, nor the security agreement.

Thus, while the UCC-1 of Peabody was fine as far as it went, Peoples Bank simply could not prove up its security interest. Thus, its repossession was unlawful, and the sale illegal. Caterpillar was awarded damages of $2.4 million dollars, which was the value of the collateral sold by Peoples Bank. This ruling was correct in my judgment.

The lesson for leasing companies is to obtain all the underlying loan documents when obtaining an assignment or subordination. Many of my clients do “wrap” leases, in which the lessor refinances other equipment leases and “wraps” them into a single lease. Thus, the lessor’s security interest in the “wrap” lease will depend on proving the security interest of the lessor from which it obtained the assignment. The lessor should obtain the underlying loan documents (EFA, lease), the security agreement, a ledger to prove the amount owed at the time of the assignment. We also go the extra mile, and request that the lessee execute an “Estoppel Agreement” whereby the lessee admits the balance owed and the priority of the security interest.

Going this extra mile in getting these documents will insure that that the lessor is, in the parlance of Jerry Reed, “hot.” Put another way, again in the parlance of Jerry Reed, Caterpillar got the gold, Peoples Bank got the shaft.

Caterpillar Case:
http://www.leasingnews.org/Story_Credit/story_credit4272013.html

Tom McCurnin is a partner at Barton, Klugman & Oetting in Los Angeles, California.

Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html

 

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Leasing 102
by Mr. Terry Winders, CLP

How Much Do You Know?

I have been training people to know more about the Commercial leasing profession for over thirty years and I have found that the most successful people and leasing firms have been the most educated. Ours is an industry that must deal with a complex set of rules and regulations and how they interact with each other. You cannot expect to learn it from any university or schools of higher learning so you must look to books on leasing and classes provided by our national trade associations or a few teachers that have lived through the development of these rules and regulations and can therefore explain the thought behind their development.

One of the difficulties or road blocks to learning commercial leasing is the quantity of information you need to know. I know from experience that many people believe that their employees can learn everything they need to know from one day of training and yet if you look at the body of knowledge required by the CLP foundation you would see that it would take a concentrated effort of many weeks and years to gain the knowledge necessary to become a Certified Leasing Professional (CLP). That is why they created the leasing Handbook. It presents leasing in an understandable way.

The three book series offered by the practicing law institute, on commercial equipment leasing, is a key to the complexity of this business because it would take a few weeks to get through it and only covers the legal and tax approach. Credit and accounting must be learned elsewhere.

The list of requirements to be a true professional in the commercial leasing business is long and complex because you must understand all types of leases and how they relate to the rules of the road irrespective of what limited array of products or leases you have to offer. In addition many of the rules we rely on are constantly changing requiring a constant diligence to determine its effect on your approach to the business.

The changes in accounting for leases proposed for next year and the possibility of major income tax deduction changes means that everyone should seek out training to be able to make the appropriate adjustments to their marketing effort.

In addition, funding may change as your product base changes so you need to anticipate as many of the changes as you can and address them with your funding source.

Educating your funding source if it is not a lessor is a constant challenge to eliminate the fear of the unknown. Many banks fear residuals, or puts, and need to be trained on the value of leasing to remain interested in leasing transactions.

Training is necessary but some say they do not have the time or it is too expensive. However, knowing the rules and regulations are necessary if you want to be successful next year so look for ways to improve your knowledge and allocate the time to get it right.

 

(To learn more about the CLP Handbook)
http://www.clpfoundation.org/toolbox/clp_handbook.php

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at WindersConsulting@yahoo.com or 502-649-0448

He invites your questions and queries

Previous #102 Columns: http://www.leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm

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

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Real Estate takes Bank Down in Georgia & North Carolina
86th Bank Failure since 2008 for Georgia

The four branches of Douglas County Bank, Douglasville, Georgia were closed with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits. Founded June 25, 1974, the bank had 74 full time employees year-end 2012 at their office in Dallas, two offices in Douglasville, and one office in Dallas. The bank had 82 full time employees in 2008.

Tier 1 risk-based capital ratio 0.51%

Douglasville bank photo 1993

Douglas County Bank is the 86th bank failure in the state since mid-2008. That is more than in any other state over that period.

According to Douglasville patch April 25,2013, unemployment dropped to 10.1%.
http://douglasville.patch.com/articles/douglasvilles-unemployment-rate-drops-to-101

In this story about Douglasville, story dated July, 2012, "Fully 70 percent of local residents leave the county every day for employment."
http://www.georgiatrend.com/July-2012/Douglasville-Douglas-County-Coming-Back/

Unemployment, real estate speculation, and an aggressive loan program brought the bank down.

"In February 2009, Douglas County Bank president and CEO Billy Mayhew told The Atlanta Journal-Constitution the bank was well-capitalized, but struggling with losses from real estate, as has been the case for many Georgia banks

“'We just have a lot of real estate loans that have fallen in value, ” he said at the time. “But we feel very confident that we will get through this downturn.”

"The bank was founded in 1974 by the Thornton family. Key shareholders included John Thornton, namesake of John Thornton Chevrolet.

"Lee Bradley, senior managing director of Community Capital Advisors, said the bank was well-respected in the community, but the hole they had fallen into was too deep.

“'They were a fine bank for a long time,' he said. 'Like everybody else, real estate was the virus that got them.'
http://www.myajc.com/news/business/douglas-county-bank-felled-by-real-estate-losses/nXY9H/

Here is the list with photos and descriptions of Douglas County Bank owned 1,026 home Properties:
http://www.bankownedproperties.org/bankhomes/GEORGIA/DOUGLAS.html

The real estate "virus" got many banks in Georgia, and you can see in the charge offs it is "construction/land" and home loan write offs, as well as the very high "non-current loans," all related to real estate.

(in millions, unless otherwise)

Charge Offs
2006 $148,000 ( $83,000 1-4 family, $22,000 construction/land, $12,000 individuals, $-1,000 commercial/industrial)
2007 $243,000 ( $139,000 construction/land, $37,000 commercial/industrial, $35,000 1-4 family, $32,000 other loans)
2008 $5.1 ($4.3 construction/land, $474,000 1-4 family, $248,000 nonfarm/nonresidential, $70,000 commercial/industrial)
2009 $10.3 ($9.8 construction/land, $433,000 1-4 family, $75,000 nonfarm/nonresidential, $42,000 other loans, $23,000 commercial Industrial
2010 $7.3 ( $5.8 construction/land, $917,000 nonfarm/nonres.,$564,000 1-4 family, $45,000 other loans, $5,000 commercial/industrial, $4,000 indiv.)
2011 $2.0 ($1.6 construction/land, $392,000 1-4 family, $79,000 commercial/industrial, $13,000 other loans)
2012 $2.5 ( $2.00 construction/land, $289,000 1-4 family, $83,000 commercial/industrial, $48,000 other loans, $38,000 individuals)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans

(in millions, unless otherwise)

Non-Current Loans
2006 $990,000
2007 $8.9
2008 $7.8
2009 $44.9
2010 $48.5
2011 $41.3
2012 $11.2

Profit
2006 $11.7
2007 $9.4
2008 $71,000
2009 -$15.0
2010 -$8.8
2011 -$6.0
2012 -$8.8

Net Equity
2006 $32.3
2007 $35.9
2008 $35.0
2009 $24.5
2010 $15.8
2011 $10.3
2012 $1.0

As of December 31, 2012, Douglas County Bank had approximately $316.5 million in total assets and $314.3 million in total deposits. Hamilton State Bank will pay the FDIC a premium of 0.5 percent to assume all of the deposits of Douglas County Bank. In addition to assuming all of the deposits of the failed bank, Hamilton State Bank agreed to purchase approximately $260.9 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 $86.4 million.

http://www.fdic.gov/news/news/press/2013/pr13034.html

 

The three branches of Parkway Bank, Lenoir, North Carolina were closed with CertusBank, N.A., Easley, South Carolina, to assume all of the deposits. The acquisition of Parkway Bank is the fifth acquisition of a failed bank by CertusBank since 2011.

Parkway was founded August 13, 2001 they had 33 full time employees at their offices in Granite Falls, Hudson, and Lenoir. The end of year 2011, they had 44 full time employees. The stock hit a high of $14.00 a share in 2006.

The problems started in 2008 and snowballed in construction/land loan write offs as well as very high non-current loans resulting in losses.

Press release May 23, 2011:
"We continue to be negatively impacted by the poor economic and financial conditions both on a national and local level. The positive signs that we are seeing are being more than offset by the overwhelming burden of asset quality issues," said James E. Sponenberg, III , President-t and CEO of Parkway Bank. "We continue to explore all possible strategic alternatives, including the raising of additional capital. We will keep you informed as we move forward in our efforts to improve the capital and financial situation of the Bank."

It was much too late as the numbers below and by July 23, 2012 Parkway Bank’s common stock was deleted from OTCBB due to ineligible for quotation on OTCBB due to quoting inactivity under SEC Rule 15c2-11.

The numbers show up to March 31, 2013 that resulted in a Tier 1 risk-based capital ratio .0196

(in millions, unless otherwise)

Net Equity
2006 $13.5
2007 $14.4
2008 $12.4
2009 $8.2
2010 $5.3
2011 $3.4
2012 $2.1
3/31 $1.5

Profit
2006 $1.0
2007 $702,000
2008 -$1.8
2009 -$4.3
2010 -$2.9
2011 -$2.1
2012 -$903,000
3/31 -$99,000

Non-Current Loans
2006 $429,000
2007 $1.0
2008 $4.3
2009 $6.2
2010 $9.2
2011 $6.0
2012 $2.6

Charge Offs
2006 $125,000 ( $117,000 commercial/industrial, $14,000
construction/loan$8,000 consumer, -$15,000 1-4 family)
2007 $257,000 ( $226,000 commercial/industrial, $19,000 1-4 family, $12, Individuals)
2008 $1.3 ($963,000 commercial/industrial, $308,000 construction/land,$33,000 individuals, $18,000 1-4 family, $16,000 nonfarm/nonresidential)
2009 $3.2 ($2.9 construction/land, $221,000 commercial/industrial, $12,000 1-4 family, $11,000 individuals.
2010 $1.6 ( $1.5 construction/land, $171,000 multifamily, $25,000 1-4 family, $93,000 commercial/industrial, $11,000 individuals)
2011 $2.9 ($1.7 construction;/land, $1.2 nonfarm/nonres.,$42,000 commercial/residential, $29,000 1-4 family,-$33,000 multi-family)
2012 $1.2 ($$685,000 1-4 family, $151,000 multifamily, $132,000 nonfarm/nonres.,$99,000 commercial/industrial loans
3/31 $141,000 ($80,0000 1-4 family, $56,000 multifamily, $5,000 indiv.)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of December 31, 2012, Parkway Bank had approximately $108.6 million in total assets and $103.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, CertusBank, N.A. agreed to purchase approximately $99.2 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 $18.1 million.

http://www.fdic.gov/news/news/press/2013/pr13033.html

Bank Failure Map--2013 Bank Closed Count:http://leasingnews.org/archives/Mar2013/3_28.htm#failed

List of Bank Failure
http://www.fdic.gov/bank/individual/failed/banklist.html

Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

Abbott and Costello Prediction
An Update

Surprised at how many did not get the photo---nevertheless:

modern one:

one of the originals:
 

 

[headlines]
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Top Stories April 23-April 25
(You May Have Missed)

Here are the top stories opened by readers:

(1) Balboa Capital, Irvine, California
Bulletin Board Complaint No. #10 posted
By Christopher Menkin, editor
leasingnews.org/archives/Apr2013/4_25.htm#balboa_capital_complaint

(2) Vegas Conference Biggest Turnout since 2006
by Dwight Galloway, CLP
http://leasingnews.org/archives/Apr2013/4_23.htm#vegas

(3) Wildwood Industries Fraud Snares Lessor and Lender
in Battle Over Assignment
By Tom McCurnin, Leasing News Legal News Editor
http://leasingnews.org/archives/Apr2013/4_25.htm#wildwood

(4) Marlin Leasing Has Forum Selection Clause Upheld
and Recovers its Attorney Fees
By Tom McCurnin and Kit Menkin
http://leasingnews.org/archives/Apr2013/4_23.htm#marlin

(5) Placard-FEAR has two meanings
http://leasingnews.org/archives/Apr2013/4_23.htm#placard

(6) Leasing 102 by Mr. Terry Winders, CLP
“Lessee’s Needs”
http://leasingnews.org/archives/Apr2013/4_23.htm#needs

(7) Real Estate Loans Take Three Banks Down
Two in Florida, One in Kentucky
http://leasingnews.org/archives/Apr2013/4_23.htm#bank_beat

(8) Audit: Las Vegas cabs overcharged $15M in airport ride
http://www.usatoday.com/story/money/personalfinance/2013/04/22/las-vegas-taxi-overcharge/2104997/

(9) Harris Leasing Joins Funder List “A”
http://leasingnews.org/archives/Apr2013/4_25.htm#harris

(10) Abbott & Costello Predicted This
http://leasingnews.org/archives/Apr2013/4_25.htm#abbott

 

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SNL Financial ranks top 50 credit unions of 2012
By Andrew Wolcott and Marshall Schraibman
SNL Financial

Idaho Central Credit Union took the top spot in SNL's 2012 credit union ranking. Chubbuck, Idaho-based Idaho Central came in ahead of Corpus Christi, Texas-based Navy Army Community Credit Union and Cincinnati-based General Electric Credit Union, which finished as first and second runners-up, respectively. Interestingly enough, Idaho Central, Navy Army Community and General Electric also placed in the top five in SNL's previous credit union ranking.

Out of the top 50 best-performing credit unions, Idaho Central ranked in the top 15 in every financial metric measured, placing ninth in both member and market growth. Idaho Central, on a year-over-year basis, has grown both its loan book and deposit balances every year going back to 1995, the earliest year for which SNL has data. Throughout this period, Idaho Central significantly improved its efficiency, registering full-year operating expenses as a percentage of operating revenue of 54.53% in 2012, compared to 73.64% in 1995.

The largest credit union to crack SNL's top 50 was Alexandria, Va.-based Pentagon Federal Credit Union, which had $15.53 billion in total assets as of Dec. 31, 2012. Pentagon Federal is the third-largest credit union in the U.S., surpassed only by State Employees' Credit Union and Navy Federal Credit Union. Out of the top 50 best-performing credit unions, Brea, Calif.-based Credit Union of Southern California and Wichita, Kan.-based Credit Union of America were the only two to have both member and market growth rates above 25.0%.

For the 2012 ranking, SNL graded the best-performing credit unions using five core financial performance metrics that focus on growth, asset quality and operating efficiency for the 12-month period ended Dec. 31, 2012. The metrics used were: member growth; net charge-offs as a percentage of average loans; operating expenses as a percentage of operating revenue; delinquent loans as a percentage of total loans; and market growth.

SNL measured each institution's standard deviation from the mean for each metric. The standard deviations, which were equally weighted, were then added together to calculate a performance score for each company. Caps and floors were also implemented to prevent significant outliers from skewing an institution's rank. To be included in the analysis, a credit union had to have total assets greater than $500 million and be well-capitalized with a net worth ratio of at least 7.0%, as of Dec. 31, 2012. Based on the criteria, 410 credit unions were eligible for the analysis.

 

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Be Like Bobby---How to use strategic top-down
branding to drive profitability
QRSmagazine.com

My idea of “inclusive exclusivity” started in a boardroom many years ago in Atlantic City, New Jersey. I was making a presentation to a group of executives at the Borgata Hotel, Casino, & Spa to explain how they could import the feel of New York’s hottest nightclubs and restaurants to the Jersey Shore. Although this sounds like a glamorous undertaking, it is time-consuming and complicated. Atlantic City is both geographically and energetically another world from downtown Manhattan, and I was really concerned that our team would not be able to solve this problem.

Luckily, the heavens opened for me that day. Call it divine inspiration or a moment of clarity; whatever happened, the idea of “inclusive exclusivity” popped into my head. There was no need to drive the team crazy trying to get “influencers” from New York to drive three hours to Atlantic City. We needed to run the Borgata’s outlets as other luxury brands had for years.

What we did was create the illusion of exclusivity through a marketing campaign and operational plan that produced an “aspirational experience.” Once the brand and experience were established, perception became the reality. Our job then became a systematic propaganda program for perpetuating the myth with tools like marketing, events, and great service—commodities that are far easier to bottle than the magic dust that make a hot spot hot.

CLOSER LOOK
BOBBY'S BURGER PALACE

WHERE: Washington D.C., New Jersey, Maryland, New York, Ohio, Pennsylvania, Massachusetts
ESTABLISHED: 2008
SIGNATURE ITEMS: 10 Types of Burgers, Salads & Sandwiches, Fries, & Milkshakes

Now, I might like to think this was my Einstein moment, but the truth is that all I did was adapt an idea from the world of fashion. French billionaire Bernard Arnault perfected this model years before. Arnault realized that he could take established luxury brands from the world of fashion, beauty, and luggage with hundreds of years of heritage and leverage their brand across multiple platforms to maximize returns. So he bought Louis Vuitton, Marc Jacobs, and many other fashion staples and used their expensive luggage and couture clothing to maintain the brand while driving the real profit centers like key chains, wallets, and perfumes. The model? Use the top end to build the brand and use the low end to drive the profits—fairly obvious now, but simply genius then. Arnault realized what you might have when you got into quick-service restaurants: The money lies in driving volume sales with a simple product.

The good news is that this model is applicable to all businesses, especially hospitality, and particularly the quick-service segment. In order to understand this phenomenon, look no further than modern-day celebrity chef Bobby Flay.

Flay earned success through his restaurants Mesa Grill and Bolo in New York City, as well as TV spots on the Food Network, and parlayed that good fortune into a personal brand that, to many people, is very aspirational and exclusive. Once that brand was firmly established, he opened licensed restaurants in casino hotels like Borgata, Atlantis, and Caesars Palace.

Then the time came to cash in and complete the trifecta of a modern upscale food brand with his one missing piece: quick service. In this case, it was burgers and buns. Flay opened a fast-casual concept, Bobby’s Burger Palace, in 2008 and now has 10 outlets in multiple states. His brand is exclusive, his restaurants are inclusive, and his cash flow is obtrusive.

Flay is not the only big name getting into quick service. Mario Batali, Jean-Georges, Wolfgang Puck, Rachael Ray, and all the big culinary personalities are laughing their way to the bank on the shoulders of quick-service and fast-casual concepts. Leveraging your brand to sell high-profit merchandise is the quickest way to short-term financial success.

Quick-service concepts that are already experts at driving volume sales can tap into inclusive exclusivity, as well. For example, they can learn from brands like In-N-Out Burger, which has done an excellent job controlling its growth and focusing on quality. The chain has opened pop-up units as far away as Japan with huge lines and massive press coverage, creating exclusive experiences that everyone is welcome to enjoy.

Other brands might consider hyping new products as significant occasions or purposely limiting supply. Do what you do best, but creatively pump up the demand with great out-of-the-box thinking. Inclusive exclusivity is all about creating the air that a product is special, but making it available to everyone who is willing to pay. The emotional connection that comes from obtaining something customers believe is exclusive and special not only increases customer satisfaction, but it also ignites the best marketing tool available: word of mouth.

As the saying goes, in order to sleep with the classes, you need to sell to the masses. Get busy selling now, so you can enjoy sleeping later.

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

Madison Capital Finances Puerto Rico SUBWAY® Franchisees

Owings Mills, MD- Madison Capital, a leading provider of equipment and commercial vehicle financing solutions, announced the completion of financing for $600,000 of new ovens for 25 restaurant chain franchisees throughout Puerto Rico. The new ovens will help the SUBWAY® chain’s efforts to reduce its environmental footprint through sustainable operations. Benefits of this initiative include increased energy conservation by replacing outdated ovens. The new ovens will also help serve customers more efficiently as the franchisees continue to experience explosive growth.

As the financing provider, Madison Capital worked with SUBWAY®’s independent purchasing co-op (IPC) and the Development Agent for Puerto Rico in understanding the franchisees’ business requirements and what was important in structuring a financing package that met their goals.

Nancy Pistorio
Exec. VP, Madison Capital

“Because of our experience in doing business in Puerto Rico and our knowledge of the franchise industry, we were able to respond quickly to the needs of the SUBWAY® franchisees,” indicated Nancy Pistorio, Executive Vice President, Madison Capital. As a direct funding source, Madison Capital has the ability to serve the unique financing needs of franchise businesses’ across the U.S., Canada, and Puerto Rico.

About Madison Capital, LLC.
Madison Capital has over 40 years of expertise in equipment financing and commercial vehicle leasing and is a direct funding source for most types of business equipment and vehicles from 1-500 units. Madison provides its financing services throughout the U.S., Canada, and Puerto Rico. In addition, Madison offers lease and loan portfolio servicing capabilities concentrating on firms looking to outsource their billing and collection functions. For more information, please visit www.madisoncapital.com or call 800-733-5529.

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

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

 

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

Banking Industry Lags Behind
Desire for Emerging Financial Services

Only 13% of banking consumers currently have any type of emerging financial services, yet 55% of them find these services important and valuable.

SAN ANSELMO, Calif. – An advance finding from a consumer study currently being conducted by Market Rates Insight (www.marketratesinsight.com) found that banks and credit unions are lagging behind in providing leading-edge financial services, which consumers find important and valuable. The consumer study, which will be completed in mid-year, measures the current level of use of each of the 13 emerging financial services compared to the potential level of use reported by consumers.

Among the highest growth-potential services is identity-theft alerts, which 71% of banking consumers find important and valuable, yet, only 21% currently get thorough their financial institution. Another high-growth-potential service is personalized couponing, which 60% of consumers find important and valuable, but only 7% currently have it.

These leading-edge services, or emerging financial services, include relatively new services to the banking scene, such as prepaid reloadable cards, online personalized couponing, overdraft transfer service, person-to-person payments, mobile deposit service, credit score reporting, identity theft alerts, mobile photo bill pay, location-based couponing, eldercare Services. Payment protection service, same-day bill pay and low-balance alerts.

The study, which will be released mid-year, will features detailed analysis of the level of importance and value consumers place on each of the 13 emerging financial services in five different views: large or national institutions, medium or regional, small or local, as well as analysis of all banks and all credit unions. In addition, the study also examines the optimal combination of services, or bundles, consumers value the most, and the amount consumers are willing to pay for various bundles of emerging financial services.

Dan Geller, Ph.D.
Exec. VP, Market Rates Insight

“Thus far, the data collected shows that the growth and fee-revenue potential for banks and credit unions is about four times the current level” said Dan Geller, Ph.D. Executive Vice President at Market Rates Insight, “however, in order to reach this potential, banks and credit unions must offer the right type and combination of services consumers desire and value.

About Market Rates Insight
Market Rates Insight (MRI, www.marketratesinsight.com) is a reputable provider of competitive-pricing information and analysis to financial institutions. MRI’s competitive data is complete, detailed and timely, which allows for the highest level of pricing precision. Therefore, the use of MRI’s competitive data ensures greater pricing optimization, and subsequently, improved profitability. In addition to competitive-pricing data, MRI also conducts pricing analysis and provides tracking of industry indexes. MRI’s indexes, published weekly in the National Pricing Indicators, are the industry standard for deposit pricing, and are viewed weekly by executives of banks and credit unions through video, audio and print channels.

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

 

 

 

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Classified Ads---Employment Web Sites

Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.

www.adams-inc.com
www.affinitysearch.com
www.bajobs.com
www.careerbank.com
www.careerbuilder.com 
www.careerpath.com
www.careerjet.com
www.craigslist.org
www.employmentcrossing.com 
www.FinanceLadder.com 
http://www.findhow.com/
www.hotjobs.com
www.Hound.com 
www.jobapplicationcenter.com 
www.indeed.com
www.jobs.net
www.jobs-applications.com
www.jobssearchengine.net
www.jobsearchusa.org 
www.JobSpin.net
www.jobsinthemoney.com
www.ladders.com
www.leasingworld.co.uk
www.lessors.com
www.LinkUp.com
www.MarketingJobs.com
www.monitordaily.com
www.monster.com
www.monstertrak.monster.com/ 
www.Postonce.com 
www.RecruiterConnection.com
www.resumeblaster.com
www.snagajob.com/part-time-jobs/
http://thejobfind.info/submit/
www.topjobapplications.com/ 
www.toplanguagejobs.com 
www.vault.com
www.vetjobs.com
www.worktree.com

Australian Shepherd Puppy
Irvine, California Adopt-a-Dog

Ketel
ID#: 5603291-A085547
Male
Puppy
Size: Med 26-60lbs.

Shelter: Irvine Animal Care Center
Pet ID #:5603291-A085547
Phone: (949) 724-7740
Let 'em know you saw "*KETEL" on Adopt-a-Pet.com!
E-mail: info@irvineshelter.org
Let 'em know you saw "*KETEL" on Adopt-a-Pet.com!
Website: http://www.irvineshelter.org
Address:6443 Oak Canyon, Irvine, CA 92618

The Center's 3.73 acre, park-like facility cares for thousands of homeless, neglected and abused animals every year.

Come Meet Our Pets...

Hours of operation:
Weekdays 12:00p, - 7:00pm
Weekends 10:00am - 5:00pm
Closed Tuesdays & Holidays

Address:6443 Oak Canyon
Irvine, CA 92618

How to get to the shelter:
From the 405 Freeway, take the Sand Canyon exit and turn inland; turn left into Oak Canyon; the shelter will be the second driveway on the right.

From the 5 Freeway, take the Sand Canyon exit and turn right; turn right into Oak Canyon; the shelter will be the second driveway on the right.

Please visit our website at www.irvineshelter.org for more information.

 

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----

McDonald's considers all-day breakfast, delivery
http://www.usatoday.com/story/money/business/2013/04/26/mcdonalds-considers-breakfast-all-day/2116631/

Pilot Flying J legal drama unfurls
http://www.tennessean.com/article/20130428/NEWS21/304280071/Pilot-Flying-J-legal-drama-unfurls

Moody's, S&P, Morgan Stanley settle debt ratings cases
http://www.usatoday.com/story/money/business/2013/04/28/moodys-s-and-p-debt-ratings/2118753/

JPMorgan co-COO Bisignano leaves to run First Data
http://finance.yahoo.com/news/jpmorgan-co-coo-bisignano-leaves-201958258.html

China Car Market will be the first ever above 20 million
March was up 10%.
http://focus2move.com/item/619-in-2013-the-china-car-market-will-be-the-first-above-20-million-march-was-up-10?goback=%2Egde_76396_member_235850615

Libor--Price Fixing--Everything is Rigged says RollingStone
http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425

West, Texas Lost & Found Pets
https://www.facebook.com/westanimals

Apple's Next Big Product Will Not Be A Gadget
http://www.sfgate.com/technology/businessinsider/article/Apple-s-Next-Big-Product-Will-Not-Be-A-Gadget-4470188.php

Michael Jordan & Yvette Prieto Married In Huge Florida Wedding
http://hollywoodlife.com/2013/04/28/michael-jordan-married-yvette-prieto-reception-tent/

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---You May Have Missed

 

Nine Phrases Women Use
http://biggeekdaddy.com/humorpages/Misc/9phraseswomenuse.html

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SparkPeople--Live Healthier and Longer

SparkPeople--Live Healthier and Longer

The Sleep Quiz
http://www.sparkpeople.com/resource/quizzes_start.asp?quizid=43

 

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Spring Poem

 

The Bean Eaters

by Gwendolyn Brooks

They eat beans mostly, this old yellow pair.
Dinner is a casual affair.
Plain chipware on a plain and creaking wood,
Tin flatware.

Two who are Mostly Good.
Two who have lived their day,
But keep on putting on their clothes
And putting things away.

And remembering . . .
Remembering, with twinklings and twinges,
As they lean over the beans in their rented back room that
is full of beads and receipts and dolls and cloths,
tobacco crumbs, vases and fringes.

From The Bean Eaters by Gwendolyn Brooks, published by Harpers. © 1960 by Gwendolyn Brooks. Used with permission. All rights reserved.

 

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Sports Briefs----

 

NFL Draft Grades: Jaguars, 49ers, Rams top the class
http://nfl.si.com/2013/04/28/2013-nfl-draft-grades-jaguars-49ers-rams-top-the-class/?eref=sihp

David Price erupts at umpire on Twitter after ump allegedly calls him a liar
http://tracking.si.com/2013/04/28/david-price-umpire-tom-hallion-liar-twitter-rant/

Howard ejected; Lakers swept
http://sports.yahoo.com/blogs/nba-ball-dont-lie/dwight-howard-ejected-could-last-laker-game-kobe-010002269.html

Which rookie QB has the best chance to start
http://www.usatoday.com/story/sports/nfl/2013/04/28/rating-quarterbacks-2013-draft-geno-smith-ryan-nassib-ej-manuel-matt-barkley-mike-glennon-tyler-wilson-landry-jones/2117999/

 

 

[headlines]
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California Nuts Briefs---

Report: Bridge has bolts similar to banned bolts
http://www.sfgate.com/news/article/Report-Bridge-has-bolts-similar-to-banned-bolts-4470620.php

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“Gimme that Wine”

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

$1 million will go to naturalize immigrants in Napa County
http://www.latimes.com/local/lanow/la-me-ln-napa-valley-immigrants-20130423,0,764698.story

Why is Ridge adding ingredients to its back labels?
http://www.ridgewine.com/About/ingredient%20labeling

The Weird and Wild Wine-Drinking Games of History
http://www.winespectator.com/webfeature/show/id/48337

TOP 10 ST GEORGE’S DAY DRINKS
http://www.thedrinksbusiness.com/2013/04/top-10-english-drinks-for-st-georges-day/

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

    1749- Benjamin Franklin on the banks of the Shuylkill River, Philadelphia, PA, became the first person to cook by electricity. In a letter dated this day in 1749, he wrote: A turkey is to be killed for our dinner by the electrical shock and roasted by the electrical jack, before a fire kindled by the electrified bottle
    1845-Macon B. Allen becomes the first African-American lawyer admitted to the bar in Massachusetts.
http://www.jtbf.org/inter_fed_jud.htm
    1854- the first college for African-American students was the Ashmun Institute, Chester County ,PA. It was named after Jeshudi Ashmun, the reorganizer of the colony of Liberia. In 1966, the college name was changed to Lincoln University.
http://www.lincoln.edu/
    1873-Eli Hamilton Janney of Alexandria, VA, obtained a patent on an “improvement in car-couplings.” Eventually every railroad coupler with which every railroad car in the United States, Canada, and Mexico was equipment with his invention.'`
http://www.sdrm.org/history/timeline/
    1899--Jazz pianist, composer and bandleader Edward Kennedy (Duke) Ellington was born in Washington, DC. He made his first professional appearance as a jazz pianist in 1916, and two years later formed his first band. After appearances in Harlem nightclubs, Duke Ellington's orchestra became one of the most famous jazz bands, and remained so for more than 50 years. Some of Ellington's best-known songs include "Take the A Train," "Mood Indigo," "Solitude" and "Sophisticated Lady." He also wrote a number of concert works including "Creole Rhapsody" and "Black, Brown and Beige." Ellington made hundreds of recordings before his death in 1974.
http://memory.loc.gov/ammem/today/apr29.html
http://www.dukeellington.com/ 
    1901-for the first and only time, the Kentucky Derby was run in April instead of May. The winning cold was “His Eminence,” ridden by Jimmy Winkfeld. Sannazarro finished second, a length-and-a-half back.
    1908-April 29 Pierre L'Enfant
http://www.arlingtoncemetery.com/l-enfant.htm 
http://www.ugrad.cs.jhu.edu/~pedxing/revwar.html 
http://www.arlingtoncemetery.org/historical_informati
on/pierre_charles_lenfant.html 
http://www.cnn.com/2000/STYLE/design/05/22/major.lenfant.ap/ 
    1910 - The temperature at Kansas City, MO, soared to 95 degrees to establish a record for the month of April. Four days earlier the afternoon high in Kansas City was 44 degrees, following a record cold morning low of 34 degrees.
    1913-the zipper was invented about 1906 by Gideon Sundback of Hoboken, NJ, an inventor of Swedish ancestry, who obtained a patent on this day for his “separable fasteners.” His design consisted of two flexible tapes, each of which carried a row of metal teeth with tiny hooks, and a slider that locked the two rows of hooks together. This fastener was improved upon by later patents on March 20 and October 16, 1917, which were assigned to the Hookless Fastener Company of Meadville, PA, under the name “Talon.” The first manufactured garments to incorporate zippers were rubber boots made by the B.F. Goodrich Company in 1923. Prior to this all clothes used buttons exclusively. The term “zipper” was coined by the English novelist Gilbert Frankau, who saw the device at a promotional luncheon and explained “Zip! It's Open! Zip! It's closed!” The first fashion designer to use zippers was Elsa Schiaparelli, who added them to garments in her 1930 collection.
http://inventors.about.com/library/weekly/aa082497.htm
    1918-Ace of Aces Captain Edward Vernon Rickenbacker of Columbus, OH first victory took place in the Baussant region, in the Toul sector, France. He was credited with 26 victories, including 22 airplanes and four balloons.
http://www.lib.auburn.edu/archive/flyhy/101/eddie.htm
    1927-birthday of tenor saxophone Big Jay McNeely, Watts Ca
http://www.electricearl.com/dws/bigjay.html
http://www.soul-patrol.com/randbfoundation/jay.htm
http://www.123posters.com/bigjay.htm
http://www.greenmanreview.com/rawblues.html
    1931- British skiffle musician Lonnie Donegan birthday. His biggest North American hit was 1961's "Does Your Chewing Gum Lose Its Flavor (On the Bedpost Over Night)." Died November 3,2002.
http://www.vh1.com/artists/az/donegan_lonnie/bio.jhtml
    1933-birthday of guitarist Willie Nelson, Abbott, TX.
http://www.willienelson.com/
    1934-guitarist Otis Rush birthday, born Neshoba, MS
http://www.blueflamecafe.com/index.html
http://www.concertedefforts.com/Otis%20Rush.htm
    1941 - The Boston Bees agreed to rename the National League team the Braves, the name they used prior to 1935.
    1945 - The 522nd Field Artillery Battalion, part of the most decorated regiment in the history of the U.S. military (the 442nd regimental combat team), added another first to the history books. They liberated the remaining prisoners of the infamous Nazi death camp, Dachau. The 522nd was made up entirely of second generation Japanese-Americans (Nisei).
    1951-Marguerite Higgins won the Pulitzer Prize for international reporting. journalism. Her book, “War in Korea,” became a best-seller Among the many the many newspaper articles she wrote were the first report of the German death camps at the end of World War II, won the Pulitzer Prize for journalism in 1951. She was the first American to enter the Dachau death camp on 04-29-1945, in advance of military troops. From her dispatch filed that day: "Tattered, emaciated men, weeping, yelling and shouting `Long Live America' (in about 16 languages) swept toward the gate in a mob. Those who could not walk limped or crawled... at least a thousand prisoners were killed the night before... the barracks like those at Buchenwald (which she had also entered early) had the stench of death and sickness... the starving and dying lay virtually on top of each other in quarters where 1,200 men occupied a space intended for 200...in the crematorium itself were hooks on which the S.S. men hung their victims when they wished to flog them or to use any of the other torture instruments... Many of the living were so frail it seemed impossible they could still be holding on to life." More women were killed by the Germans in the concentration camps than men - and women were subjected to rape and other sexual tortures as well. So many of the Nazi doctors seemed fascinated by women's reproductive abilities and performed unspeakable horrors on pregnant women. She died in Washington, D.C. on January 3, 1966 of a disease which she apparently contracted while in Vietnam. September 14,2002 a stamp was issued to commemorate her life.
http://www.arlingtoncemetery.com/mhiggins.htm 
http://www.unicover.com/EA1CCJH8.HTM 
    1951--Top Hits
If - Perry Como
Mockingbird Hill -Patti Page
Would I Love You - Patti Page
The Rhumba Boogie - Hank Snow
    1952-birthday of Dale Earnhardt, stock car racer, born Kannapolis, NC, Apr 29, 1952. He was one of NASCAR's most popular personalities, winning the Winston Cup seven times. He was killed while driving in the Daytona 500 at Daytona Beach, FL, Feb 18, 2001
http://www.daleearnhardt.net/ 
    1953 - "Coke Time with Eddie Fisher" began its TV and radio run on NBC-TV and Mutual radio. Fisher, a popular performer, was seen and heard on more TV and radio stations in 1954 than any other entertainer. Oh, my! (Papa)
    1954 - Ernest Borgnine made his network television debut in "Night Visitor" on "Ford Theatre" on NBC-TV. The versatile film ("Marty") star would later become a sitcom sensation in "McHale's Navy" with comedian Tim Conway on CBS and, later, as a helicopter owner in "Airwolf".
http://us.imdb.com/Name?Borgnine,+Ernest
    1954-Miles Davis Sextet records “Walkin'” (Prestige)
http://www.milesdavis.com/ 
http://www.geocities.com/Heartland/Valley/2822/miles_davis.htmlhttp://www.wam.umd.edu/~losinp/music/miles_ahead.htm
http://www.jan-lohmann.com/
http://home.snafu.de/miles/music/missing.htm
    1958 -Ted Williams becomes the tenth major league player to get 1,000 extra-base hits.
    1958-"The Witch Doctor" goes to No.1 on Billboard's pop charts. The singer's voice was recorded at various speeds, mainly very Fast. Songwriter and singer Ross Bagdasarian (who recorded under the name David Seville) topped the charts again at the end of the year with "The Chipmunk Song," sung by his dubbed voice at very fast speed, and this time the singers were: the Chipmunks.
    1959--Top Hits
Come Softly to Me - The Fleetwoods
(Now and Then There's) A Fool Such as I - Elvis Presley
Guitar Boogie Shuffle - The Virtues
White Lightning - George Jones
    1959 - UNIVAC, the electronic computer that was the size of a house, actually picked four out of six winners at Churchill Downs in Louisville, KY. The electronic brain set a record for right choices in horse races. Of course, the winners all paid 2-1 or even odds, so it didn't win much. But, most of us don't...
    1960 - Dick Clark told a House of Representatives investigating committee looking into the payola scandal that he, the host of "American Bandstand", never took payola for records featured on his daily TV show. Clark would, however, relinquish rights to music publishing that he owned. The value of those rights, Clark indicated 30 years later, amounted to about $80 million.
http://www.history-of-rock.com/clark.htm
http://www.dickclarkproductions.com/
    1961 - “Spanning the globe ... to bring you the constant variety of sport, the constant variety of human competition, the thrill of victory and the agony of defeat. This is ABC's Wide World of Sports.” A Saturday afternoon sports program began its long run on ABC-TV. The show, featuring Jim McKay as host, along with Howard Cosell, Frank Gifford, Al Michaels, Jack Whitaker, Heywood Hale Brun and others, was not an immediate hit. Although Roone Arledge's vision of a worldwide window on televised sports got off to a slow start, "ABC's Wide World of Sports" became one of TV's most popular and enduring programs.
    1963-Andrew Loog Oldham signed the Rolling Stones to a management contract. He had seen them peform the previous night at the Crawdaddy Club in Richmond, England.
    1967--Top Hits
Somethin' Stupid - Nancy Sinatra & Frank Sinatra
A Little Bit Me, A Little Bit You - The Monkees
Sweet Soul Music - Arthur Conley
Need You - Sonny James
    1967- Aretha Franklin's "Respect" is released.
    1967-Cindy Birdsong makes her stage debut with The Supremes at The Hollywood Bowl, replacing the increasingly unreliable Florence Ballard.
    1967-Muhammad Ai was stripped of his world heavyweight boxing championship when he refused to be inducted into military service. Said Au, “I have searched my conscience, and I find I cannot be true to my belief in my religion by accepting such a call.” He had claimed exemption as a minister of the Black Muslim religion. Convicted of violating the Selective Service Act but the Supreme Court reversed this decision in 1971
http://www.nytimes.com/books/98/10/25/specials/ali.html
    1968 - "Hair" made its way from Greenwich Village to Broadway. The show certainly opened eyes. It was the first time that actors appeared nude in a Broadway musical. "Hair" ran for 1,844 shows on and off Broadway. It was even more successful in its London run later. Big songs from the show: "Hair" (The Cowsills) and "Aquarius/Let the Sunshine In" (The 5th Dimension).
http://www.cowsill.com/cowsills/discography/music-hair.html
http://www.orlok.com/hairpages/hairfaq.html
    1969 - Sir Duke, Duke Ellington, celebrated his 70th birthday. He was honored with the presentation of the Medal of Freedom, the U.S. government's highest civilian honor.
    1972--A Detroit, Michigan band called Gallery enters the Billboard Hot 100 with "Nice To Be With You", which will rise to #4 during its 13 week run. They will follow with two more Top 20 hits, "I Believe In Music" (#22) and "Big City Miss Ruth Ann" (#23) over the next eight months.
    1973-More than 15,000 people attending a Rock concert by Elvin Bishop, Canned Heat, Buddy Miles and Fleetwood Mac are routed from a baseball stadium in Stockton, California, by police firing tear-gas canisters. More than 80 people, including 28 police officers, are hurt and fifty arrests are made. 
    1973 - The Mississippi River reached a crest of 43.4 feet, breaking the previous record of 42 feet established in 1785.
    1974 - Phil Donahue's TV show was on the move. "Donahue" was moving to Chicago, IL, where it would remain until 1985. The show was originally based in Dayton, OH. Following more than a decade in the Windy City, the show again moved, this time to New York City. During its stay in Chicago, "Donahue" earned nine Emmy Awards.
    1975 - Operation Frequent Wind, the largest helicopter evacuation on record, begins removing the last Americans from Saigon.
    1975--Top Hits
(Hey Won't You Play) Another Somebody Done Somebody Wrong Song - B.J. Thomas
He Don't Love You (Like I Love You) - Tony Orlando & Dawn
Supernatural Thing - Ben E. King
Blanket on the Ground - Billie Jo Spears
    1979- Van Halen's "Dance The Night Away" single is released
    1980-Black Sabbath began their first tour with vocalist Ronnie James Dio, who had replaced Ozzy Osbourne. 
    1981 - Steve Carlton, the Philadelphia Phillies pitcher, became the first left hander in the major leagues to get 3,000 career strikeouts. He fanned Montreal Expos's Tim Wallach in the first inning of a game that saw the Phillies beat the Expos 6-2. Carlton was only the sixth major leaguer to strikeout 3,000 batters. He finished with 4,136.
    1983--Top Hits
Come on Eileen - Dexys Midnight Runners
Beat It - Michael Jackson
Der Kommissar - After the Fire
American Made - The Oak Ridge Boys
    1985-“Challenger” was launched from Kennedy Space Center, Florida, piloted by the first African-American to enter outer space, Col. Frederick Gregory, who became a veteran of three space missions, logging in 455 hours. This flight had a crew of seven and a full animal menagerie of monkeys and other animals to learn about the effects of space. After 111 orbits of Earth, Challenger landed on May 6, 1985, at Edwards Air Force Base, Ca.
http://www.jsc.nasa.gov/Bios/htmlbios/gregory-fd.html
    1985 - George Steinbrenner, owner of the New York Yankees, fired manager Yogi Berra. Berra was canned after only 16 games into the young baseball season. In his place, Steinbrenner brought Billy Martin back ... for the fourth time.
    1986 - Roger Clemens of the Boston Red Sox set a major-league baseball record by striking out 20 Seattle Mariner batters on the way to a 3-1 win. This record for the Red Sox hurler surpassed the 19 strikeouts for a nine-inning game held by Nolan Ryan when he pitched for the California Angels. Tom Seaver of the New York Mets and Steve Carlton of the St. Louis Cardinals also held a piece of the previous 19-KO record.
    1987 - A storm off the southeast coast of Massachusetts blanketed southern New England with heavy snow. Totals of three inches at Boston MA, 11 inches at Milton MA, and 17 inches at Worcester MA, were records for so late in the season. Princeton MA was buried under 25 inches of snow.
    1988--Top Hits
Wishing Well- Terence Trent D Arby
Anything For You- Gloria Estefan
Angel- Aerosmith
Where Do Broken Hearts Go- Whitney Houston
Pink Cadillac- Natalie Cole
    1988-the 1988 Baltimore Orioles finally won a game after losing the first 21 games of the season. They beat the Chicago White Sox, 9-0, on a combined four-hitter by pitchers Mark Williamson and Dave Schmidt. The Orioles' streak, lasting from April 4 to 28, set an American League record but fell two losses short of the National League mark.
    1988 -thunderstorms produced large hail and damaging winds throughout central Texas with baseball size hail reported at Nixon, Texas and wind gusts to 70 mph recorded at Cotulla, Texas. In contrast, a late winter storm dropped up to a foot of snow over northern West Virginia and western Maryland.
    1989-Porter Wagoner joined Dolly Parton on stage for the first time since Parton split with her mentor in 1976. The duet sold out four shows at Parton's Dollywood theme park in Pigeon Forge, Tennessee. 
    1989- Porter Wagoner joined Dolly Parton on stage for the first time since Parton split with her mentor in 1976. The duet sold out four shows at Parton's Dollywood theme park in Pigeon Forge, Tennessee.
http://www.porterwagoner.com/ 
    1990 - A storm system crossing northern New Mexico blanketed parts of the Rocky Mountain Region and the Northern High Plains with heavy snow, and produced blizzard conditions in central Montana. Much of southern Colorado was buried under one to three feet of snow. Pueblo tied an April record with 16.8 inches of snow in 24 hours. Strong canyon winds in New Mexico, enhanced by local showers, gusted to 65 mph at Albuquerque. Afternoon temperatures across the Great Plains Region ranged from the 20s in North Dakota to 107 degrees at Laredo TX
    1990-The TV movie Summer Dreams: The Story of the Beach Boys airs on ABC. 
    1991--Top Hits
Baby Baby - Amy Grant
Joyride - Roxette
I Like the Way (The Kissing Game) - Hi-Five
Down Home – Alabama
    1992-a jury in Simi Valley, CA, failed to convict four Los Angeles police officers accused in the videotaped beating of Rodney King, providing the spark that set off rioting, looting and burning at South Central Los Angeles, CA, and other areas across the country. The anger unleashed during and after the violence was attributed to widespread racism, lack of job opportunities and the resulting hopelessness of inner-city poverty.
http://www.nytimes.com/learning/general/onthisday/big/0429.html#article
    1992- State Farm Insurance was ordered to pay $157 million to hundreds of California women who were not offered or given jobs as State Farm agents because of their sex. It was the largest sex-discrimination settlement in US history to that time. The settlement was shared by more than 814 women. The case that began in June, 1979 when Muriel Kraszewski sued because she was turned down repeatedly for agent jobs at State Farm offices in South California because she was a woman. As a result of the suit, the ratio of women agents with State Farm has increased from less than 1% in 1979 to more than 50% today. Women make up more than 50% of the population.
    1995 -severe thunderstorms moved across Tarrant County in Texas. Hail up to 3.5 inches in diameter did an enormous amount of damage. 100 aircraft were damaged at DFW airport. Damages in the county totaled $220 million. This was the second major hailstorm to hit the area in a month.
    1997- the US House of Representatives voted to bestow Congress's highest civilian award, the Congressional Gold Medal, on Frank Sinatra. In 1985, President Ronald Reagan had presented the singer with the Medal of Freedom, the highest civilian award in the US.
    1997-Craig MacIavish, the last player to go without a helmet, retired from the National Hockey League,. The NHL mandated helmets at the start of the 1979-80 season but allowed players then active to refrain by signing a waiver absolving the league of responsibility in case of head injury. MacIavish was the last remaining player of those who signed the waiver. He retired from the St. Louis Blues after a 16-year career during which he scored 213 goals. Despite his personal choice, he admitted, “Certainly, it's very dangerous out there without a helmet.
    1998--Top Hits
Too Close- Next
You re Still The One- Shania Twain
Let s Rid-, Montell Jordan Feat. Master P
All My Life- K-Ci 
    2007-Nancy Sinatra made a rare TV appearance in an episode of The Sopranos where she sang "Bossman" to a small gathering of the main characters.