Bulletin Board Complaint
iFinancial Group, San Clemente, California

This complaint does not hinge on whether the original submission was for a new location, and the original party stated the second party was aware of the second location; however, the second party says that is not correct. There is also not an issue over whether the vendor did not approve doing business with the second party. There also is the issue of two funders who spoke about not knowing about re-brokered application from the second party, but again, this is not what the complaint is about.

Whether the transaction is "fraudulent" or not is really up to a court of law. Who is correct or not correct about an application for a new or existing location is also not the issue for the Leasing News Bulletin Board Complaint.

This issue is a legal one: You need a proposal or document signed by both parties that spells out procedures, basically that states what happens if the lease does not go together because the party did not want an ACH payment, terms are changed, and basically what is earned by the party considering the application. Often there is a specific documentation fee or "cost fee" that is not returnable and it is spelled out in the agreement.

Insurance agents, real estate agents, and others who work hard for their commission, if the deal doesn't go together, they don't get paid, unless they have a contract that so states.

Leasing News has been writing about this for years, and includes commitment forms for such a purpose:
http://www.leasingnews.org/Conscious-Top%20Stories/Engagement_letters.htm

In addition, if you are licensed in California, you need to abide by that. If you are not licensed, then any transaction you are involved with you need to return the money---it is that simple, and the state can issue a "cease and desist" order to stop immediately doing business in California, with heavy results if you do not. iFinancial Group does not appear to be licensed under the California Lenders Law.

Out of state leases apply to this law as commissions are received in California, and a licensed company must file a yearly report of all transactions, including out of state.

The first party is Liberty Capital, Newport Beach, California. The second party is iFinancial Group, San Clemente, California, and the complaint is from Moises Andino, Owner, RAV Fitness LLC, dba Anytime Fitness, 2020 Highway 190 West, Suite 104, Slidell, Louisiana, who was opening up a new location to his existing business, CMR Fitness LLC dba Anytime Fitness, 614 Blue Meadow, Bay St. Louis, Mississippi. The dollar amount involved is $5752.60.

The lease did not go through and the applicant has requested the return of the advance rentals. .

This was explained to Todd Clark, iFinancial Group, about providing a copy of a document that was signed by both parties regarding the ability of the second party to keep any monies. His response:

"Normal course of business in the leasing industry:

"If you have signed documents on an approved deal and the deal falls thru due to misleading or false information provided by the lessee or vendor (and not due to anything that was misrepresented by the lessor), the money is kept because all the work has been done.

"We had a written approval (we didn’t send out fake documents or collect a check on a hope and a prayer).

"We have a signed application from the customer will the ownership breakdown, legal name and equipment location.

"We have signed documents – Again, with the same information.

"We issued purchase orders to the vendor.

"All we needed to do was get the original invoices (which were ordered) and the site inspections. We couldn’t get either because the lessee provided us with the wrong business name, the wrong ownership breakdown and wrong equipment address. The equipment was going to a start-up company with different ownership and in a completely different state… Therefore this was 100% fraudulent."

Liberty Capital and Moises Andino, RAV Fitness, dispute this. Mr. Andino says it was always for the new location.

Mr. Andino told Leasing News, "Yes, an application was filled out by RAV Fitness to show our time in business and to guaranty payment NOT to have the equipment sent to RAV Fitness in Slidell LA.

We disclosed ALL of this to Liberty Capital our initial contact. It doesn't change the fact my equipment vendor did not want to do business with them."

Nathan Olsen, Liberty Capital, in part told Leasing News: "While I have to limit my comments since the customer has threatened legal action what I can say is that the customer completed an application for an established location and was approved. During the process of getting iFinancial approved by the vendor to submit a purchase order on behalf of the customer it was determined that iFinancial did not meet the vendor’s credit requirements for approval to order from them based on a purchase order. At this point Todd of iFinancial made an issue of a previously disclosed fact of the deal that the customer requested delivery of at least part of the equipment to a separate location to the one that had been approved. Normally, when location is determined to be an issue after the fact, the customer would be given the option of signing a cross-corp. guaranty or electing to have all equipment delivered to the already approved address but RAV was given neither of these industry standard options by iFinancial. "

Other information:
iFinancial Group is a member in "good standing" of the National Association of Equipment Brokers

Previous iFinancial Group Complaint:http://leasingnews.org/archives/Feb2011/2_18.htm#bbc_ifinancial

From: LinkedIn.com
Nathan Olsen
Experience
Commercial Loan Officer Liberty Capital
Financial Services industry
April 1998 – Present (13 years 5 months)

Regional Operations, Santa Barbara Wells Fargo Bank
Public Company; WFC; Financial Services industry
April 1994 – July 1998 (4 years 4 months)

Education
University of California, Santa Barbara BA, Economics, Finance, Accounting 1994 – 1998

http://www.linkedin.com/pub/nathan-olsen/11/207/b3b

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

Classified Ads---Operations

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

Nampa, Idaho 30 years equipment leasing, credit, collections experience. I want to work for a funding source with the broker/lessor community. Email - Resume

Credit and Collections Manager Seasoned Ops, Broker Development, Credit, Legal, Strategy, P & L Management detail oriented team player seeks position with Small ticket direct lender. Wgriffith61@yahoo.com | Resume

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

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

Comprehensive personal property tax outsourcing services We accept file exports and integrate personal property tax information with all lease management or accounting software. No other firm offers the combination of individual attention, software capabilities expertise, "full disclosure" and web port accessibility to information more than we do. Click here to learn what our clients say about our service Gary DiLillo, President 216-658-5618 or gary@avptc.com

Leasing 102
by Mr. Terry Winders, CLP

Servicing Issues with Smaller Banks

I am involved as an expert witness in a case where leases were sold to a local bank and the leasing company retained the servicing. One of the reasons this happens is the bank does not have lease accounting software and expects the leasing company to provide billing and accounting support.

One of the reasons I present this subject is the lack of knowledge both the leasing company and the bank have of their responsibilities. To begin with: it is wise to have a lock box set up so the bank has control of the funds. This is a request of the bank regulators today and will fast become a requirement because of some nasty losses due inconsistencies and in some cases outright fraud.

On occasion, the banks are unaware that if they purchased the leases they must have sales tax permits in each state. In addition, they must complete an income tax form in each state and are subject to unpaid property tax claims. If the bank is a National Bank, they are licensed to do business in any state. However if they are a State Bank then they must register to do business in each State that has a lease and pay the franchise fees. The leasing company can collect and pay the sales tax in their name, but they still must have the permits in the banks name.

On occasion the lessee is not aware the lease has been assigned, so it is called a non-notification lease. The bank reserves the right to step in and replace the lessor’s servicing if problems arise. This non-notification document needs to be drafted by legal counsel because it must state all of the circumstances that would occur that allow them to step in. The bank regulators are looking for these documents today. If there is no non-notification document, then an assignment notification legally needs to be sent to the lessee.

The bank regulators are beginning to require that the bank audit the leasing companies servicing to match up the leases as to amounts and receivables. Problems occur when the lease payments are in advance and the bank payments are in arrears. Leases can be delinquent for thirty days before the bank becomes aware of it.

Bank auditors can also ask for reviews of residuals over a chosen amount by requiring an inspection and an equipment review. This is to verify that the residuals are still valid and the lessee is living up to the maintenance requirements of the lease (if any).

If the bank just makes a commercial loan and accepts the lease as collateral then a lot of the requirements go away. However the bank will require an assignment of a properly filed UCC-1 or it may file its own UCC-1 on all of the lessee’s assets.

Even though the proposed accounting changes will make all leases look like capital leases, the accounting still remains different than booking a loan. Banks that try to account for leases that they own on lending software will be a target of the regulators in the near future because of the multitude of problems brought on by a software system based on customer location and not asset location. It is hard to handle sales tax, property tax, and asset location without a proper lease bookkeeping system.

If you plan to bring a new bank into leasing by offering your leases for sale you best prepare a presentation of how to become a funder of leases and explain all of the requirements and who is going to be responsible for what so you can have a healthy relationship.

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

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)

Bank Beat---One closed on Thursday for Jewish Sabbath,
Fifth largest bank failure this year, plus
17th bank in Georgia closed, Small Chicago Suburb Bank

Public Savings Bank, Huntingdon Valley, Pennsylvania, was closed on Thursday, rather than the regular end of week of Friday. It was a courtesy as Friday night would have been Sabbath and due to the relationship with the Orthodox Jewish community and ownership of the bank was closed last Thursday.

Jack Miller was listed as CEO as wells as CEO and founders of Gelt Properties and Gelt Financial, which web site says specialized in buying “distressed debts.”
http://www.linkedin.com/in/hjackmiller

CEO Jack Miller described Public Savings Bank as "a Shomer Shabbos Bank guided by the principles and rulings of Torah business laws" and other Orthodox Jewish ideas, closing on the Sabbath and doing business over the Internet in Hebrew and Yiddish as well as English and Spanish. The specialized in secured credit cards, usually from those with credit problems in the past; secured Visa credit cards (which require users to deposit money banks can seize if they don't pay on time). The charge offs of credits card debts are high for a small bank.

Charge Offs

2006 $1,000 (1-4 family residential)
2007 $16,000 (1-4 family residential)
2008 $19,000 ($11,000 nonfarm nonresidential, $8,000 other loans)
2009 $69,000 ($45,000 credit cards, $20,000 1-4 family residential, $4,000 consumer loans)
2010 $429,000 ($353,000 1-4 family residential, $76,000 credit cards)
3/31 $36,000 (Credit cards)
6/31 $146,000 ($138,000 credit cards, $8,000 1-4 family residential)

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

Reportedly the holding company was Gelt Holdings, Inc. ("Gelt" in Yiddish means "money"), and two other subsidiaries had filed Chapter 11 last month in Philadelphia: Gelt Properties, which invests, owns and manages commercial real estate, and Gelt Financial, which specializes in mortgages for real estate investors and small business owners, as well as buying “distressed debt.”
http://geltproperties.com/portfolio.html

http://www.spotlightdesign.com/websites/gelt/aboutPhilosophy.asp#

Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits. As of June 30, 2011, Public Savings Bank had approximately $46.8 million in total assets and $45.8 million in total deposits. The bank was formed in 1926, but acquired by Gelt Holdings 2006, the parent of Gelt Financial Corporation.

The FDIC records the bank had 29 full time employees as of March 31, 2011.

Tier 1 risk-based capital ratio 1.588% June 31, 2011.

(in millions, unless otherwise)

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.0 million.
http://www.fdic.gov/news/news/press/2011/pr11136.html

The five branches of Lydian Private Bank, Palm Beach, Florida, were closed with Sabadell United Bank, National Association, Miami, Florida, to assume all of the deposits. Founded April 6, 2000, the Lydian and Virtual Bank had 170 full time employees March 31, 2011 at two offices in Palm Beach, one in North Palm Beach, Coral Gables, Gardens, Naples, Sarasota, and Tampa (seven offices, according to the FDIC filing.) The fifth largest bank to fail this year.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $293.2 million.

The bank began as an internet bank known as "VirtualBank," offering on line bank and mass-market home loans nationwide, but in 2002 co-founder and CEO Rory Brown, a former executive at Ocwen Financial Group, made a new division, trying to move into a high-end "private bank after high net worth clients" named the country of Lydia (current day Turkey) which produced the world’s first coins around 600 B.C., and using the Ancient Lydian coin as a logo to represent "old wealth."

After charge offs on residential mortgages, investors put in $40 million in capital in 2009 and first quarter of 2010. It was not enough to stop the bleeding from the residential mortgage loans that the bank had made, as can be seen in the numbers below:

(in millions, unless otherwise)

Charge Offs

2006 $84,000 ($65,000 loans to individuals...)
2007 $4.85 ($4.8 1-4 family residential)
2008 $23.2 ($23.2 1-4 family residential)
2009 $63.0 ($52.7 1-4 family residential, $7 to individuals, $1.6 C&L, $506,000 multifamily)
2010 $61.2 ($31.1 1-4 family residential, $17.7 to individuals, $4.7 com./ind.,$2.1 multifamily
3/31 $15.2 ($12.3 1-4 family residential, $2.7 to individuals, $321,000 construction/land development)

Tier 1 risk-based capital ratio 4.96%, March 31, 2011

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

The FDIC and Sabadell United Bank, National Association entered into a loss-share transaction on $907.1 million of Lydian Private Bank's assets. Sabadell United Bank, National Association will share in the losses on the asset pools covered under the loss-share agreement.

As of June 30, 2011, Lydian Private Bank had approximately $1.70 billion in total assets and $1.24 billion in total deposits.
http://www.fdic.gov/news/news/press/2011/pr11137.html

The 17th bank to fail in Georgia this year was First Southern National Bank, located in Statesboro. Heritage Bank of the South, Albany, Georgia, to assume all of the deposits.

According to www.problembanklist.com, "Heritage Bank of the South previously acquired two other failed banking institutions. In December 2009 Heritage acquired failed The Tattnall Bank of Reidsville, GA, and in February 2011 acquired failed Citizens Bank of Effingham of Springfield, GA.

"The holding company for Heritage Bank is Heritage Financial Group of Albany, GA. Heritage Financial was founded in 1955 and has assets of about $700 million. The company is profitable and pays a 1.1% dividend on its shares."

Founded February 5, 2002, First Southern National Bank they had 38 full time employees March 31, 2011.

Tier 1 risk-based capital ratio 4.07% June 30, 2011.

(in millions, unless otherwise)

Charge Offs

2006 $90,000 ($90,000 consumer loans)
2007 $421,000 ($205,000 consumer loans, $165,000 C&L, $59 commercial/Industrial)
2008 $2.6 ($1.7 nonfarm nonresidential, $338,000 commercial/industrial, $235,000 individuals,
2009 $3.8 ($1.8 Construction-Land, $1 nonfarm nonresidential, $514,000 commercial, $293
individuals.)
2010 $10.5 ($6.2 commercial loans, $2.7 const.-land, $$628,000 individual loans, $474,000 1-4 family)
3/31 $1.4 ($$652,000 const.-land, $648,000 nonfarm nonresidential loans, $70 individual loans, $63,000 auto loans)
6/31 $1.7 ($721,000 1-4 family, $647,000 nonfarm nonresidential loans, $75,000 auto, $265,000 individuals.)

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

As of June 30, 2011, First Southern National Bank had approximately $164.6 million in total assets and $159.7 million in total deposits. Heritage Bank of the South will pay the FDIC a premium of 1.0 percent to assume all of the deposits of First Southern National Bank. In addition to assuming all of the deposits of the failed bank, Heritage Bank of the South agreed to purchase essentially all of the assets.

The FDIC and Heritage Bank of the South entered into a loss-share transaction on $115.7 million of First Southern National Bank's assets. Heritage Bank of the South will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $39.6 million.
http://www.fdic.gov/news/news/press/2011/pr11138.html

First Choice Bank, Geneva, Illinois, was closed with Inland Bank & Trust, Oak Brook, Illinois, to assume all of the deposits. Founded July 2, 2001, the bank went from a high of 49 full time employees in December 31, 2006, to 30 full time employees, March 31, 2011, at two offices at the same address of 1900 West State Street, Geneva, Illinois.

The Chamber of Commerce of Geneva describes the city at around 20,000, a suburb, located 40 miles west of Chicago.
http://www.genevachamber.com/aboutgeneva.html

"Discover Geneva’s historic districts – from the refurbished downtown storefronts to the dozens of treasured Third Street Victorian homes that now house over 100 unique specialty shops and quaint eateries."
http://www.genevachamber.com/tourgenevaabout.html

Tier 1 risk-based capital ratio 3.04%, June 30, 2011.

The small bank never recovered for the 2009-2010 charge offs and non-current loans

(in millions, unless otherwise)

Charge Offs

2006 $670,000 ($342,000 nonfarm nonresidential, $196 commercial, $126 1-4 family)
2007 $807,000 ($744,000 commercial, $53,000 construction-land, $10,000 other)
2008 $920,000 ($761,000 commercial, $124,000 1-4 family, $28,000 nonfarm nonresidential)
2009 $2.0 ($1.0 construction-land, $409,000 1-4 family, $457,000 commercial)
2010 $3.6 ($1.7 commercial/industrial, $974,000 Construction/land $931,000 1-4 family)
3/31 $1.0 ($995,000 commercial/industrial, $15,000 1-4 family, $7,000 construction/land development)
6/31 $1.3 ($953,000 1-4 family, $186,000 construction/land development, $186,000 commercial

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

As of June 30, 2011, First Choice Bank had approximately $141.0 million in total assets and $137.2 million in total deposits.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.0 million.
http://www.fdic.gov/news/news/press/2011/pr11139.html

Tracking Bank Failures Map:
http://graphicsweb.wsj.com/documents/Failed-US-Banks.html

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

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

Friday Deadline “Early Bird” NEFA Conference

Early Bird registration and hotel discounts will expire this Friday, August 26th for the 2011 National Equipment Leasing Funding Symposium, September 15-17,
at the Marquette Hotel, in Minneapolis, Minnesota,

Funding Source Exhibitors

Allegiant Partners, Chris Enbom
Bank of the West, Steve Crane
Boston Financial & Equity, Debbie Monosson
Dakota Financial, Michael Green
Financial Pacific Leasing, Terey Jennings
Maxim Commercial Capital, Doug Houlihand
Pawnee Leasing, Gary Souverein
TAB Bank, Eric Myers

Luncheon Speaker
David D'Antonio, Managing Director
EverGreen Bank Lender Finance Group
http://www.linkedin.com/pub/david-d-antonio/3/301/282

Agenda:
http://www.nefassociation.org/displaycommon.cfm?an=1&subarticlenbr=130

Rates and registration
https://m360.nefassociation.org/event.aspx?eventID=30371

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

Career Crossroad—“How Long Should the Resume be?”

Question: I have been told resumes should only be one page long … it’s difficult to accomplish this, please advise.

Answer: The reality is a 2 (ideal) or 3 page resume IS acceptable. It is NOT really possible to highlight your accomplishments in a one page resume, particularly if you have been employed for more than 5 years! At the same time, your resume should be succinct in such a way that you briefly describe each role held AND highlight your successes; this does take some time and thought.

Every resume should include your employment history, education and successes and/or awards received. To be frank, if your resume is over 3 pages, the reader will lose interest.

For more tips, contact us!

Emily Fitzpatrick

Sr. Recruiter
Recruiters International, Inc.
emily@riirecruit.com
Phone: 954-885-9241
Cell: 954-612-0567
www.riirecruit.com

Leasing Industry Help Wanted

Executive Director of Sales Laguna Hills, CA Base Salary, performance bonuses, sales overrides, full benefits Require excellent track record of integrity based performance with strong leadership skills for business development.  Manage existing sales force. Optimize diverse array of financial products and solutions. Execute sales enablement strategies. Trusted advisor on executive team.   “STRADA Capital has been raising the standard for excellence in financial solutions for over 10 years.  Our success stems from our unwavering commitment to our customer’s success” Brad Kissler, BKissler@stradacapital.com, 949-789-8850, ext.222 www.stradacapital.com

MIDATLANTIC FINANCIAL INC, in business 21 years, seeks success-minded independent sales contractors with 3+ yrs equipment finance/leasing sales experience to generate lower to middle market transactions under a very generous commission sharing plan. Please contact us for more details. Contact Scott Lesnettt, slesnett@midatlanticfinancial.com or Al Hosack, ahosack@midatlanticfinancial.com www.midatlanticfinancial.com

Looking for seasoned sales professionals with 5+ years experience closing both Equipment Leasing Transactions and Merchant Cash Advance Transactions ---New leads daily generated through our marketing efforts, and call center. Base salary plus commission, includes daily abundance of marketing leads. West Los Angeles, CA Emma 310.447.3460 ext. 319 ecabildo@imcacapital.com imcacapital.com

For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm

Please see our Job Wanted section for possible new employees.

Top Stories August 15---August 17

Here are the top ten stories opened by readers:

(1) Chase Industries to Close due to Embezzlement
http://leasingnews.org/archives/Aug2011/8_15.htm#chase

(2) LEAF Equipment Leasing Income & Serious Problems
http://leasingnews.org/archives/Aug2011/8_15.htm#leaf

(3) More on Chase Industries Embezzlement
http://leasingnews.org/archives/Aug2011/8_18.htm#chase

(4) Burt Reynolds Home In Florida in Foreclosure
http://www.washingtonpost.com/national/bank-wants-to-foreclose-on-actor-burt-reynolds-fla-home-to-collect-12m-for-mortgage/2011/08/17/gIQA6Xi2LJ_story.html

(5) Over 500 Registered for ELFA 50th Annual Convention
List Available Who is Attending
http://leasingnews.org/archives/Aug2011/8_18.htm#elfa

(6) Sheldon Player et. al. Back to the IRS
http://leasingnews.org/archives/Aug2011/8_18.htm#irs

(Tie) (7) Leasing 102 by Mr. Terry Winders, CLP
Lease Accounting for the Lessee
http://leasingnews.org/archives/Aug2011/8_15.htm#accounting

(Tie) (7) U.S. Bank tests payment bracelet
http://www.biztimes.com/money/2011/8/16/

(8) Chris Walker Lovefest This Saturday
http://leasingnews.org/archives/Aug2011/8_15.htm#walker

(9) 35 IRS Counts May Get 143 Years
Allegedly Claimed 19 Dependents born all on the same day!
http://leasingnews.org/archives/Aug2011/8_18.htm#counts

(10) Airplane "Repo Man" Tells his story
http://www.dailymail.co.uk/home/moslive/article-2024863/Tycoon-owner-720-gone-bust-Baliff-Kevin-Lacey-back.html?ITO=1490

Cedar Rapids -- Adopt-a-Dog

Emergency, needs Forever Home or Rescue
Could Face Euthanasia Today, August 22

FRITZ IS IN URGENT STATUS AND MUST FIND HIS FOREVER HOME BY AUGUST 22ND OR HE COULD FACE EUTHANIZATION. FRITZ WAS RECENTLY PICKED UP AS A STRAY IN JONES COUNTY. JONES COUNTY DOES NOT HAVE A SHELTER. ALL DOGS ARE HELD FOR 7 DAYS. AFTER HIS HOLD TIME, FRITZ MUST HAVE A FOREVER HOME, RESCUE OR FOSTER HOME TO GO TO. ALL OF AWF'S FOSTER HOMES ARE FULL!!

Fritz sure is a beautiful boy! Because Fritz's former family hasn’t claimed him, his is now in jeopardy of becoming a scary statistic…black labs are the most euthanized dogs in the United States. But, we won't rest until we find a home for Fritz, but we need your help because in order to save him, an adoptive or foster family must be found. Fritz is approximately 2 years old and weighs 75 lbs. If you have other dogs or children, we want you to bring them along to meet Fritz to make sure everyone is a match. We do not know how Fritz is with cats. Please help us save Fritz by contacting Melissa today at mlaalfs@netzero.com or (319) 415-1270.

This pet’s adoption fee is on a sliding scale of $125 to $200. You decide the amount that is right for you to give. The fee includes spay/neuter, heartworm test, heartworm preventative, treatment for a variety of intestinal parasites and vaccinations. We have an all-volunteer staff, which means your entire fee goes towards helping homeless animals. A home visit is part of our adoption process, so we do not adopt outside of a 50-mile radius of Cedar Rapids. To complete our online adoption application, please go here:
http://www.wesavepets.org/forms/adoption_app_dog.html

http://www.wesavepets.org/adopt/urgent_fritz.html

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/

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

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

NACM Statement on Fitch, S&P Ratings Actions

Fitch Ratings recently affirmed its top-tier AAA sovereign rating of U.S. Treasury securities, just a little more than a week after fellow ratings agency Standard & Poor’s (S&P) controversially downgraded the U.S. from AAA to AA+.

Both agencies’ reasons for their affirmation, and downgrade, of the United States’ debt runs parallel to the most critical, yet basic, tenets of credit. There are a number of striking similarities between statements in S&P’s eight-page explanation of the U.S. downgrade and the “5 C's of Credit,” said officials with the National Association of Credit Management (NACM).

“The 5 C's are Character, Capacity, Capital, Collateral and Conditions,” said NACM President Robin Schauseil, CAE. “When S&P refers to America’s ‘political brinksmanship,’ they’re really making a judgment on the country’s character, just as a commercial creditor would do so with one of its customers.”

“In the world of trade credit, a credit applicant with character is one with the moral qualities that oblige them to pay as debts become due,” she added. “While the U.S. isn’t applying for credit with S&P, they’re making the same judgment that thousands of credit managers make every day when denying credit to companies who lack character, the kind of character that makes them handle their finances as agreed.”

Fitch, in their affirmation of U.S. debt, relied on other C's of credit, most notably capital, conditions and capacity. “Fitch said that while their outlook could turn negative after the President’s Joint Select committee makes its recommendations, the U.S. economy remains one of the world’s most productive, meaning we have the ability to generate enough capital to avoid default,” said Schauseil. “They added that the conditions in the U.S. are expected to ‘regain momentum’ and that America’s ‘flexible, diversified and wealthy economy’ enhances the capacity of the economy to handle shocks.”

“S&P seems to have taken a more conservative approach, basing its decision on the country’s character, while Fitch remained confident in U.S. debt because of its capital, market conditions and capacity to pay,” she added. “That the two agencies can use some of these 5 C's to come to two different conclusions illustrates how diverse and complex the field of credit management really is, and how valuable the 5 C's are as a broad tool for judging creditworthiness.

About the National Association of Credit Management
The National Association of Credit Management (NACM), headquartered in Columbia, Maryland, supports approximately 16,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services, which improve the management of business credit and accounts receivable. NACM’s collective voice has influenced legislative results concerning commercial business and trade credit to our nation’s policy makers for more than 100 years.

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

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

News Briefs---

Rebels Pour Into Central Tripoli Square
http://www.nytimes.com/2011/08/22/world/africa/22libya.html?_r=1&hp

US Bancorp outperforms all Wall St. Titans
http://www.nypost.com/p/news/business/small_bank_giant_VSJyWihVurt0nyScPwSarJ

Autonomy buy could make HP an Oracle takeover target
http://www.nypost.com/p/news/business/it_unprintable_OCkB6QLsQpe24xzRece8hO

Obama doesn't expect another recession
http://www.chicagotribune.com/news/nationworld/la-na-obama-economy-20110822,0,3488427.story

Most Likely to Commit Fraud: Finance Executives
http://www3.cfo.com/article/2011/8/fraud_finance-executives-cfos-most-likely-to-commit-fraudAIG Hits Turbulence with International Lease Finance
http://www.forbes.com/sites/greatspeculations/2011/08/19/aig-hits-turbulence-with-international-lease-finance/

Ahead of the Bell: Bank of America may cut jobs
http://www.businessweek.com/ap/financialnews/D9P75J280.htm

Rick Perry's Jobs "Swagger"
http://www.fair.org/blog/2011/08/19/rick-perrys-jobs-swagger/

Texas is 27th Lowest in Unemployment, not First
http://www.bls.gov/web/laus/laumstrk.htm

You May Have Missed---

Deciphering a 10,000-Year-Old Weather Report
http://www.newswise.com/articles/view/579735/?sc=sphn

Sports Briefs----

Gang rivalry blamed for some of violence at 49ers/Raiders game
http://www.contracostatimes.com/raiders/ci_18728526?nclick_check=1

Cowboys fall to Chargers; relive the game and key details
http://www.dallasnews.com/sports/dallas-cowboys/headlines/20100820-replay-cowboys-fall-to-chargers-relive-the-game-and-key-details.ece

Oakland Raiders take step back in loss to San Francisco 49ers
http://www.insidebayarea.com/raiders/ci_18725591

The Huddle
http://content.usatoday.com/communities/thehuddle/post/2011/08/cam-newton-will-start-play-3-quarters-vs-cincy/1

((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)

“Gimme that Wine”

Sonoma County Wineries Prepare for harvest to begin next week
http://www.pressdemocrat.com/article/20110818/BUSINESS/110819462/1036?Title=Wineries-prepare-for-harvest-to-begin-next-week''

It's Picking Time in Southern California
http://www.nctimes.com/news/local/columnists/hunneman/article_f64b1fae-6f6b-5a42-84cb-b72dbbbac37c.html

Barbera: I Knew It When
http://www.nytimes.com/2011/08/17/dining/reviews/tasting-barbera-wines.html?ref=dining

Screaming Eagle Founder Buys Pillar Rock Vineyard
http://www.winespectator.com/webfeature/show/id/45561

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

   1654-The first Jews to arrive in America were Marra­nos, Spanish Jews who had converted to Chris­tianity in order to escape torture and death un­der the Inquisition. Marranos were part of Co­lumbus’s voyage of discovery in 1492 and of Spanish explorations and settlements in the 16th century. A handful of Jews came to the English colonies in Virginia and Massachusetts in the first half of the 17th century, but most historians consider the first permanent Jewish settler in America to have been Jacob Barsimson of Holland, who landed at the Dutch colony of New Amsterdam (the future New York City.) A month later, a group of 23 Jews from Recife, Brazil, arrived in New Amsterdam seeking refuge from Portu­guese persecution. Against the wishes of the colony’s governor, Peter Stuyvesant, the Dutch West India Company allowed them to stay, provided “the poor among them should not be­come a burden to the Company or the commu­nity, but be supported by their own nation.” They had left their homeland to escape religious prosecution. While some of the prejudice was brought to the New World, as different immigrants arrived, they learned to accept each other and work together.
    1670- In Massachusetts, English-born colonial missionary John Eliot, 66, founded an Indian church at Martha's Vineyard, with educated Indians Hiacoomes and Tackanash appointed pastor and teacher, respectively.
    1771-The talk of the colonies was a dwarf exhibited as a theatrical attraction. His name is not known, but he was a man, 53 years of age and 22 inches high, shown at the house of Widow Bignall, next door to King’s Head Tavern, a little above Mr. Hancock’s wharf in Boston, MA. Admission was one shilling. His appearance was advertised in the Massachusetts Spy this date.
    1775- King George III proclaims colonies to be in open rebellion, vows to send more troops.
    1791 -- Haiti: Encouraged by the French & American revolutions, 100,000 slaves revolt. They wage war first on French, then Spanish & English troops to achieve freedom for slaves in 1793. In 1804, Haiti becomes first free black country in the world. Bowing to pressure from Southern slaveholders, the US refuses recognition of Haiti until 1865.
    1816- Damaging frosts in low places from New England to North Carolina in the "Year-without-a-Summer"
    1834-Birthday of Samuel Pierpoint Langley, American astronomer, physicist and aviation pioneer for whom Langley air Force Base, VA, is named. Born at Roxbury, MA. Langley died at Aiken, SC, Feb. 27,1906. 1846-Without a shot fired, the US annexes New Mexico.
http://rip.physics.unk.edu/Kearney/SWK.html
http://www.newmexico.org/culture/history.html
http://www.state.nm.us/category/aboutnm/fastfacts.html
http://www.southernnewmexico.com/snm/history.html
http://www.nmcn.org/features/articles/timeline.html
    1846 -- General Kearney announces annexation of New Mexico by U.S.
http://www.kumeyaay.com/history/article_detail.html?id=6
http://bchs.kearney.net/BTales_197901.htm
    1847-What would later become the world famous Mormon Tabernacle Choir gave its first public performance at Salt Lake City, Utah, for an outdoor meeting of the Church of Jesus Christ of Latter-day Saints. Widely known for its concert tours, recordings and weekly radio and television broadcast from Temple Square, the choir’s radio program “ Music and the Spoken Word” is the longest continuously running radio program in network history, dating back to 1929.
    1851- The first yacht to win in the international yacht race was America, owned by a syndicate headed by Commodore John Cox Stevens of the New York Yacht Club. They won what was known as the “hundred Guinea Cup.” The trophy, latter turned over to the New York Yacht Club, where you may view it today, became known as the America’s Cup. ***
    1865- William Sheppard of New York City patented liquid soap.
    1901-Henry LeLand founded The Cadillac Company, named after eighteenth century French explorer Antoine de la Mothe Cadillac, founder of the city of Detroit. The Cadallac reached its height of popularity during the 1950s. The Cadillac Debutante, which debuted at the Waldorf Astoria, was based on the play The Solid Gold Cadillac. Cadillac sales decreased during the 1970s as the American car market experienced an influx of smaller imports, but luxury car sales, Cadillac included, have rebounded in recent years, particularly its SUV Escalade, said to be stolen four more times than any other car today; the most frequently stolen vehicle on the road, according to insurance claim statistics.
http://www.geocities.com/motorcity/track/2582/cadillac/cadindex.html
http://www.ajc.com/business/content/business/0803/21stolen.html
    1906- The Victor Talking Machine Company of Camden, New Jersey began to manufacture the Victrola (record player). The hand-cranked unit, with horn cabinet, retailed for $200. Records were purchased separately, usually in the appliance stores that sold the machines, at a cost of between $1 and $7. Famed conductor John Philip Sousa predicted "a marked deterioration in American music" and said that generations of amateur musicians would give way to "canned music."
    1916-Birthday of pianist Sonny Thompson
http://music.lycos.com/artist/bio.asp?QT=A&QW=Sonny+Thompson&AN=Sonny+
Thompson&MID=28067&MH=
http://www.bluesbeforesunrise.com/bbssetlist011198.html
http://www.amazon.com/exec/obidos/ASIN/B000000PTY/fast-musicasin-20/
103-5362656-4423850#product-details
    1917 - John Lee Hooker, American blues guitarist and singer, born in Clarksdale, Miss. He began his career in Detroit in 1948 with the release of Boogie Chillun, the biggest of his several hit records and a staple of both the blues and rock repertoires. He toured continually, and among "deep blues" artists, enjoyed an unusually successful career, appearing in concerts and on recordings with many of the leading figures in rock. He was inducted into the Rock 'n' Roll Hall of Fame in 1991. Died June 21,2001 at his home in the San Francisco Bay Area.
http://www.johnleehooker.com/biography.htm
http://www.vh1.com/artists/az/hooker_john_lee/bio.jhtml
http://www.blueflamecafe.com/index.html
    1920 – Birthday of Ray Bradbury (writer: Fahrenheit 451, The Toynbee Convector, Martian Chronicles).
http://www.raybradbury.com/about.html
    1926-Birthday of Bob Flanagan, lead singer of the '50s pop group the Four Freshmen.
http://business.baylor.edu/Phil_VanAuken/graphics/Jazz/group3.htm
http://www.amdest.com/stars/freshmen.html
http://www.fourfreshmen.com/wwwboard/wwwboard.shtml
http://wwwp.musicmatch.com/artist/artist.cgi?ARTISTID=341444&TMPL=LONG#bio
http://www.fourfreshmen.com/fan.htm
http://www.fourfreshmen.com/index.htm
    1932- Philippa Duke Schuyler birthday, black-American pianist and writer started composing music at age three and at 12 her award- winning symphonic work was played by the Detroit Symphony. She has appeared as guest soloist, performing her own works with major symphony orchestras in the U.S. She died May 9,1967 in a helicopter accident in Da Nang, Vietnam, where she had gone in her new career as a reporter.
http://www.washingtonpost.com/wp-srv/style/longterm/books/reviews/composit.htm
http://stream.realimpact.net/rihurl.ram?file=realimpact/wnyc/studio360/studio091402c.
ra&start=%2200:00.0%22&end=%2214:52.1%22
http://www.africanpubs.com/Apps/bios/1149SchuylerPhilippa.asp?pic=none
http://www.philippaschuyler.org/tn5_Philippa_Duke_Schuyler.asp
http://www.oup.co.uk/isbn/0-19-511393-4
    1933--Birthday of American composer James Ciernia,born St. Paul, MN.
    1936-Birthday of drummer Lex Humphries, New York City
http://www.vervemusicgroup.com/verve/artist.asp?aid=3702
    1938-Birthday of rockabilly singer Dale Hawkins, born in Goldmine, Louisiana. His brief moment in the national spotlight came in 1957 when” Suzie Q" made it to number 27 on the Billboard pop chart. It's still a favorite oldie, and was revived with great success in 1968 by Creedence Clearwater Revival.
http://www.rockabilly.nl/artists/dhawkins.htm
http://www.tsimon.com/dhawkins.htm
    1938- Count Basie records for Decca records, “Jumpin’ at the Woodside.”
    1938-- America's most famous dancing partners, Fred Astaire and Ginger Rogers, appear together on the cover of Life magazine.
    1939- Julian Seth Kahn of New York City received a patent for a “spray can.” It was equipped with an inexpensive disposable valve mechanism. Under controlled pressure, it dispensed such items as whipped cream, paints, pharmaceuticals, and insecticides.
    1944- Cootie Williams cuts the first record of “Round Midnight.”
    1945-Many do not realize that the Vietnam Conflict actually began this day in 1945, less than a week after the Japanese surrender ended World War II, a team of Free French parachuted into southern Indochina in response to a successful coup by a Communist guerrilla named Ho Chi Minh in the French Colony.
    1949----Top Hits
Some Enchanted Evening - Perry Como
Room Full of Roses - The Sammy Kaye Orchestra (vocal: Don Cornell)
You’re Breaking My Heart - Vic Damone
I’m Throwing Rice (At the Girl that I Love) - Eddy Arnold
    1950- Althea Gibson becomes 1st black competitor in national tennis competition at Forrest Hills.
http://www.tennisfame.org/enshrinees/althea_gibson.html
http://www.altheagibson.com/gallery.html
    1956- President Dwight Eisenhower and Vice-President Richard Nixon denominated by Republican convention in San Francisco.
http://gi.grolier.com/presidents/ea/bios/34peise.html
    1956 - Filming begins on Elvis Presley's movie debut, ``The Reno Brothers.'' The movie is later re-titled ``Love Me Tender.''
    1957----Top Hits
Love Letters in the Sand - Pat Boone
Tammy - Debbie Reynolds
Whispering Bells - The Dell-Vikings
(Let Me Be Your) Teddy Bear - Elvis Presley
    1960--- The Five Satins' "In The Still Of The Nite" enters the charts
    1961- Roger Maris, in his record-setting season, becomes the first player to hit his 50th home run in the month of August. The 26-year old all-star outfielder connects off Ken McBride as the Yankees lose to the Angels, 4-3.
    1964-Martha & The Vandellas' "Dancing In The Streets" is released.
    1964-Liberty Records reports the album, "The Chipmunks Sing the Beatles" is selling 25,000 copies a day.
    1964-- The Supremes' "Where Did Our Love Go?" hits #1
    1965----Top Hits
I Got You Babe - Sonny & Cher
Save Your Heart for Me - Gary Lewis & The Playboys
Help! - The Beatles
Yes, Mr. Peters - Roy Drusky & Priscilla Mitchell
    1965 -Juan Marichal thinks Johnny Roseboro throws too close to his head returning the ball to Sandy Koufax and attacks Dodger catcher with his bat. The Los Angeles backstop suffers cuts on the head during the 14-minute brawl.
    1966- the United Farm Workers Organizing Committee (UFWOC), later to be renamed the United Farm Workers of America (UFW), was formed.
http://memory.loc.gov/ammem/today/aug22.html
    1967---Birthday of American composer Louis Kobra,born Citrus Heights, CA.
    1968--- The Beatles record "Back In The USSR"
    1969-Three-day Wild West Festival at the San Francisco Kezar Stadium with Janis Joplin, Turk Murphy, Jefferson Airplane, the Dead, Country Joe, Santana, Sly and the Family Stone and the Youngbloods.
    1970-Creedence Clearwater Revival's "Cosmo's Factory" LP hits #1, a position it would hold for 9 weeks.
    1970- Bread's "Make It With You" hits #1
    1972 - The Republican party re-nominated Richard M. Nixon (President of U.S.) and Spiro T. Agnew (Vice President) in Miami, FL.
    1973----Top Hits
Touch Me in the Morning - Diana Ross
Live and Let Die - Wings
Brother Louie - Stories
Louisiana Woman, Mississippi Man - Conway Twitty & Loretta Lynn
    1981----Top Hits
Endless Love - Diana Ross & Lionel Richie
Theme from "Greatest American Hero" (Believe It or Not) - Joey Scarbury
Slow Hand - Pointer Sisters
I Don’t Need You - Kenny Rogers
    1982- Ernie Banks becomes the first Cub to have his uniform number (14) retired.
    1984 - The last Volkswagen Rabbit rolled off the assembly line in Westmoreland, PA. Over 11 million of the economical cars had been produced.
    1987 - Madonna’s single "Who’s that Girl" hit #1 in the U.S for a short and sweet one-week stay at the top.
    1987-Suzanne Vega's "Luka" peaks at #3 on the pop chart
    1988-- The TV documentary Aretha Franklin: Queen of Soul airs on PBS.
    1989----Top Hits
Right Here Waiting - Richard Marx
On Our Own - Bobby Brown
Cold Hearted - Paula Abdul
Sunday in the South – Shenandoah
    1989-Nolan Ryan of the Texas Rangers became the first pitcher to strike out 5,000 batters when he fanned Rickey Henderson of the Oakland A’s in the fifth inning of a 2-0 Oakland win. Henderson went down on a 3-2 count, winging at a fastball. Ryan ended his career with 5,714 strikeouts.
    1990- President George Bush I calls up military reserves. By November some 230,000 American troops are in Saudi Arabia and President Bush announces that 150,000 more would be sent. By the end of 1990, 580,000 Iraqi troops were believed to be in Kuwait or southern Iraq. Facing them were 485,000 troops of 17 allied countries.
    1990--thunderstorms dropped heavy rains in Virginia with Nassawadox recording 12 inches in just 2 hours. Numerous road washouts occurred including several on U.S. 13, a major route to the Tidewater area.
    1993---Top Hits
Can t Help Falling In Love (From "Sliver")- UB40
Whoomp! (There It Is)- Tag Team
Dreamlover- Mariah Carey
Lately- Jodeci
    1998 -With his 52nd home run, Mark McGwire breaks Babe Ruth's record for round-trippers in three consecutive seasons. 'Big Red' has 162 homers in three seasons (1996-52, 1997-58) compared to the Bambino's 161 dingers hit in 1926-28.
    1998---Top Hits
The Boy Is Mine- Brandy
My Way- Usher
The First Night- Monica
Crush- Jennifer Pai
    2000- Hitting a solo blast and a three-run round tripper during a nine-run sixth inning of a 14-6 victory over the Expos, Dodger first baseman Eric Karros becomes the first player in the 111- year franchise history to hit two homers in an inning.
    2002---Top Hits
Dilemma, Nelly Featuring Kelly Rowland
Hot In Herre- Nelly
Complicated- Avril Lavigne
Just A Friend 2002- Mario
    2003-- For the fourth consecutive season, Garret Anderson reaches 100 RBIs mark to become the first player in team history to do so. The Angels' outfielder was also the first to have three straight 100-RBI seasons.

***
In 1848, Queen Victoria authorized the creation of a "One Hundred Guinea Cup" of solid silver (134oz), 27" tall for a yacht race "open to all nations."

In 1851 one American boat challenged 16 English ships. The Royal Yacht "Squadron" of Cowes, England was the host. The New York Yacht Club entry was the schooner "America." W.H. Brown, the designer, was so confident of his design that he refused payment if "America" did not win. The oft-quoted remark by the Queen was sparked by a great lead and victory around the Isle of Wight over the 16 other yachts.
She asked, "Who is first?"
"America" has won, she was told.
"Who was second," asked the Queen?
The reply still echoes -our Majesty, there is no second."

In 30 defenses since then, the interplay of national pride, giant egos, wide-ranging brilliant designs, and now modern technology, have kept the cup very much alive. The 132 years of successful defense by the New York Yacht Club remains the longest record in sports history. Sir Thomas Lipton tried for 31 years to win The Cup, commencing in 1899. From schooners, to J-boats, to 12 meters to the current IOAC designs, men's brains, wits, skills and money have been locked in sea-swept combat.