Connect with Leasing News 
Add me to mailing list | 
Change email | 
| 
Search
Advertising | All Lists | Archives | Classified Ads | This Day In American History
Leasing News is a web site that posts information, news, and
entertainment for the commercial bank, finance and leasing industry
kitmenkin@leasingnews.org
Tuesday, August 6, 2013
Today's Equipment Leasing Headlines
Placard--Rule #1
Classified Ads---Sales
Inside Marlin's 2nd Quarter 10Q
(What was not in detail in the Press Release)
Companies Who Do Not Notify Leases
End of Contract or Use PPB
Companies Who Notify Lessees Regarding the Termination
(Note the various methods utilized)
Eleven Lawyers Against Evergreen Clause Abuse
Leasing 102 by Mr. Terry Winders, CLP
Signatures in Blue Ink
Classified Ads---Help Wanted
“Tips on How Not to Be Nervous for a Job Interview”
Career Crossroad---By Emily Fitzpatrick/RII
Leasing News Advisor
Don Myerson
Both Positive and Negative Implications
for Equipment Lessors in New York Decision
By Frank Peretore & Scott D. Chait
Construction/Land Development Loans
Take Florida Bank Down
-- Bank Beat
Top Stories July 29--August 2
(You May Have Missed)
Classified ads— Accounting/Aircraft/Appraisals
Labrador Retriever/Dalmatian/Mixed
San Diego, California Adopt-a-Dog
News Briefs---
Taycor Financial Expanding Sales Department
FireFly launches $99 per month Phoenix POS lease plan
U.S. Rental Revenue Continues to Outpace the Economy
How The Exposure Draft Might Affect Fleets And Leasing Companies
The Sale of AIG's Aircraft-Leasing Unit Remains Grounded
Taco Bell Is The Worst-Paying Fast Food Company
In-N-Out Burger Is The Best
Broker/Funder/Industry Lists |
Features (collection)
Top Ten Stories Chosen by Readers |
Top Stories last six months
www.leasingcomplaints.com (Be Careful of Doing Business)
www.evergreenleasingnews.org
You May have Missed---
SparkPeople--Live Healthier and Longer
Sports Briefs---
California Nuts Brief---
"Gimme that Wine"
This Day in American History
SuDoku
Daily Puzzle
GasBuddy
Weather, USA or specific area
Traffic Live----
######## surrounding the article denotes it is a “press release”
and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.
Please send to a colleague. Spread the news.
Also ask them to join
our mailing list or bookmark our site.
We are free
[headlines]
--------------------------------------------------------------
[headlines]
--------------------------------------------------------------
Classified Ads---Sales
(These ads are “free” to those seeking employment
or looking to improve their position)
| Boston, Mass. Accomplished Sales & Relationship Management Professional with business development experience in the financial services industry. Recognized by market leaders as industry expert in Professional Practice financing, as well as Residential Mortgage Lending. Keen insight and understanding of transaction process and financial requirements of customer. Proven record of exceeding sales goals. deb.harold@hotmail.com |
Montgomery, AL Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama. Work with leasing company or broker. 334-590-5133 E-mail: billmcneal2003@yahoo.com |
Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm
All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
[headlines]
--------------------------------------------------------------
Inside Marlin's 2nd Quarter 10Q
(What was not in detail in the Press Release)
(Marlin is in both: www.leasingcomplaints.com
and www.evergreenleasingnews.org)
Marlin Business Services, Mount Laurel, New Jersey (Nasdaq: MRLN) issued their Second Quarter Financial Information in an eight page SEC press release on July 30th and a telephone conference call to stock and investor journalists followed. For those in the leasing industry, here is information from the 57 page August 2, 2013 10Q filing that was not detailed in the press release as to where income specifically is derived or other details, such as the Evergreen Clause leases (mostly the report indicates on copiers) or other income producing which lead to the profit increase. Marlin stated 67% of their leases are $1.00 out. (1)
“Our leases generally include renewal provisions and many leases continue beyond their initial contractual term. Based on the Company’s experience, the amount of ultimate realization of the residual value tends to relate more to the customer’s election at the end of the lease term to enter into a renewal period, purchase the leased equipment or return the leased equipment than it does to the equipment type. We consider renewal income a component of residual performance. Renewal income net of depreciation totaled approximately $1.3 million and $1.7 million for the three month periods ended June 30, 2013 and June 30, 2012, respectively. Renewal income net of depreciation totaled approximately $2.7 million and $3.6 million for the six-month periods ended June 30, 2013 and June 30, 2012, respectively. The decline in residual income was primarily due to fewer leases reaching the end of their original contractual terms, as a result of the lower originations during the 2008 to 2010 timeframe.”
-
page 42
Other items more by page number than significance:
“For the six-month period ended June 30, 2013 compared to the six-month period ended June 30, 2012, net interest and fee income increased $7.8 million, or 29.0%, primarily due to a 27.8% increase in average total finance receivables, combined with a lower cost of funds on liabilities. The provision for credit losses increased $2.0 million, or 95.2%, to $4.1 million for the six-month period ended June 30, 2013 from $2.1 million for the same period in 2012, due to increases in both net charge-offs and the allowance for credit losses resulting from portfolio growth, the ongoing seasoning of the portfolio and the mix of credit profiles.”
- Page 35
“Net charge-offs were $2.1 million for the three-month period ended June 30, 2013, compared to $1.1 million for the same period in 2012. The increase in net charge-offs was primarily due to portfolio growth, the ongoing seasoning of the portfolio as reflected in the mix of origination vintages and the mix of credit profiles. Net charge-offs as an annualized percentage of average total finance receivables increased to 1.55% during the three month period ended June 30, 2013, from 1.04% for the same period in 2012. The allowance for credit losses increased to approximately $6.9 million at June 30, 2013, an increase of $0.4 million from $6.5 million at December 31, 2012.”
- Page 35
“Net charge-offs were $3.6 million for the six-month period ended June 30, 2013, compared to $2.3 million for the same period in 2012. The increase in net charge-offs was primarily due to portfolio growth, the ongoing seasoning of the portfolio as reflected in the mix of origination vintages and the mix of credit profiles. Net charge-offs as an annualized percentage of average total finance receivables increased to 1.40% during the six-month period ended June 30, 2013, from 1.13% for the same period in 2012. The allowance for credit losses increased to approximately $6.9 million at June 30, 2013, an increase of $0.4 million from $6.5 million at December 31, 2012...We continue to adjust our credit underwriting guidelines in response to current economic conditions, and we continue to develop our sales organization to increase originations..."
- page 41
“Insurance income. Insurance income increased $0.4 million to $2.4 million for the six-month period ended June 30, 2013 from $2.0 million for the six month period ended June 30, 2012, primarily due to higher billings from higher total finance receivables.
“Other income. Other income increased to $0.8 million for the six-month period ended June 30, 2013 from $0.7 million for the six-month period ended June 30, 2012. Other income includes various administrative transaction fees and fees received from lease syndications.”
- page 40
“Fee income included approximately $0.7 million and $0.8 million of net residual income for the three-month periods ended June 30, 2013 and June 30, 2012, respectively. Fee income included approximately $1.5 million and $2.0 million of net residual income for the six-month periods ended June 30, 2013 and June 30, 2012, respectively. Net residual income includes income from lease renewals and gains and losses on the realization of residual values of leased equipment disposed at the end of term as further described below.”
- page 42
10Q 2nd quarter (57 pages)
http://leasingnews.org/PDF/MarlinSecondQtr_862013.pdf
-
Marlin Business Services Reports $4.5 MM 2nd Quarter
---50% Growth in Six Month to Previous Time Periodhttp://leasingnews.org/archives/Jul2013/7_31.htm#marlin
[headlines]
--------------------------------------------------------------
Companies Who Do Not Notify Leases
End of Contract or Use PPB
The inclusion of automatic renewal (or “evergreen”) clauses in true leases has been a fairly common practice from time immemorial. It is included in most company leasing contracts, whether the purchase options are "fair market value, " 10%, or even $1.00 (Yes, companies will continue payments if not notified and there have been several cases where the residuals is $1.00)
There is no question that these clauses provide important protections to the lessor to obtain their residual. If the lessee has no intent to renew, the lessor has in interest in knowing it before the end of the term so that he can start planning for remarketing or some other disposition of the equipment, by which to realize the residual.
However, the question of whether a lessee should be reminded by the lessor of the notice deadline in plenty of time for the lessee to react is an entirely different question. These states have statutes requiring commercial equipment lessors to provide a written notice – a fair warning – before the notice deadline date arrives:
This is an unofficial list:
New York
Rhode Island
Texas
Illinois
(Consumer, may affect commercial,
especially a proprietorship,
partnership or personal guarantee)
These companies have received complaints or law suits indicating abuse of the notification process:
ACC Capital, Midvale, Utah
Balboa Capital, Irvine, California
IFC Credit, Morton Grove, Illinois
Jules and Associates, Los Angeles, California
LEAF Financial Group, Philadelphia, Pennsylvania
Marlin Business Leasing, Mount Laurel, New Jersey
Marquette Equipment Finance, Midvale, Utah
Mazuma Capital Corporation, Draper, Utah
Onset Financial, South Jordan, Utah
Pacific Western Equipment Finance, Cottonwood Heights, Utah
Republic Bank, Bountiful, Utah
Tetra Financial Group, Salt Lake City, Utah
(Click on name to learn more about the company on this list)
• Contract Negotiations • Fraud Investigations john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com |
(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)
[headlines]
--------------------------------------------------------------
Companies who notify lessee
in advance of lease expiration
These companies do not use language to confuse, perhaps to deceive, with the result an automatic continuation for an additional twelve months of payments. They do not invoke the twelve months on a $1.00 purchase option or an Equipment Finance Agreement.
In its editorial of June 30, 2011, Leasing News recommends that the equipment lessor send a certified letter with return receipt; however, at this time, the acceptance of the word of the president of the company will be accepted until proven otherwise.http://leasingnews.org/archives/Jun2011/6_30.htm#editorial
Full List:
http://www.leasingnews.org/Pages/lease_expiration.html
| Working Capital Loans $10,000-$250,000 | |
|
|
 |
|
[headlines]
--------------------------------------------------------------
Eleven Lawyers Against Evergreen Clause Abuse
The original intention of the Evergreen clause in an equipment leasing contract was to have an alternative to when the lessee did not exercise the residual at the end of the contract. Often the clause calls for an automatic additional twelve months when the residual is not resolved.
In most cases, the lessor notifies the lessee that the residual will be due, often ninety days in advance. However, often there is nothing in the contract that requires the lessor to notify the lessee regarding the expiration of the contract.
Contrarily, many small ticket lessors do not notify the lessee, and automatically continue the lease, often via an ACH or continued billing, which often goes unnoticed until many payments have already been made.
Leasing News would like to see an industry standard that lessees are notified in advance of the expiration of their contract regarding its termination. We support the clause, and the notification requirement is wide open, meaning 90, 60, even 30 days and by telephone or mail.
This list of attorneys agrees with this and will be available to lessees, sometimes able to help them without a fee, or at a reduced rate, in an effort to end the abuse of Evergreen clause leases.
kitmenkin@leasingnews.org
Jim Coston
Coston & Coston LLC
105 W. Adams Street
Suite 1400
Chicago, Illinois 60603
(312) 205-1010
jcoston@costonlaw.com
(In 1998, he was elected to the United Association of Equipment
Leasing Board of Directors, and in 2003-04 was the first
attorney to become UAEL President, very active in his political party.)
Ronald J. Eisenberg
Schultz & Associates LLP
640 Cepi Drive, Suite A
Chesterfield, MO 63005
(636) 537-4645 x108
(636) 537-2599 (fax)
www.sl-lawyers.com
(Proven Leasing Litigator, well respected by all sides)
Ronald P. Gossett
Gossett & Gossett, P.A.
400 Seridan Street, Building I
Hollywood, Florida
954-983-2828
Fax: 954-983-2850
rongossett@gossettlaw.com
(Many cases including NorVergence, Brican, among others, a winner)
Kenneth C. Greene
Hamrick & Evans, LLP
Suite 2200
10 Universal City Plaza
@ 111 Universal Hollywood Drive
Universal City, CA 91608
Tel: 818.763.5292 ext. 114
Fax: 818.763.2308
Email: kgreene@hamricklaw.com
(Ken was involved in the formation of Leasing News and
represented it (pro bono) in the early days.)
Brandon J. Mark
Attorney at Law, Admitted in Utah and Oregon
Parsons Behle & Latimer
201 South Main Street, Suite 1800
Salt Lake City, UT 84111
Direct Dial 801.536.6958
Facsimile 801.536.6111
www.parsonsbehle.com
BMark@parsonsbehle.com
(His firm represents banks who buy leases, and his
clients refuse to buy these types of leases.)
BARRY S. MARKS
MARKS & WEINBERG, P.C.
Financial Center - Suite 1615
505 North 20th Street
Birmingham, Alabama 35203
P. O. Box 11386
Birmingham, Alabama 35202
bmarks@marksweinberg.com
www.leaselawyer.com
205.251.8303
fax 278.8905 (Direct) 251.8305 (Main)
(Well-known to the leasing industry, also Alabama Poet)
Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ste. 2200
Los Angeles, CA 90071
Voice: (213) 617-6129
Fax: (213) 625-1832
Cell: (213) 268-8291
Email: tmccurnin@bkolaw.com
(Leasing News Advisor/Well-Known top Leasing Litigator)
Frank Peretore
Peretore & Peretore, P.C.
191 Woodport Road
Sparta, New Jersey 07871
www.peretore.com
(973) 729-8991
peretore@peretore.com
(Experienced leasing attorney, aggressive, author, secretary,
National Equipment Finance Association, ELFA, too)
Ellen Stern
Ellen Michele Stern
17630 El Mineral Rd
Perris, CA 92570
951-443-4000
leaselaw@msn.com
(Long time Southern California leasing attorney, well-respected)
Kevin E. Trabaris, Principal
Trabaris, P.C.
707 Skokie Boulevard, Suite 600
Northbrook, IL 60062
Direct: (847) 205-4377
Mobile: (847) 840-4687
Fax: (848) 260-5768
kevin@trabaris.com
www.trabaris.com
"In my career, I’ve repeatedly seen this provision misused
by unscrupulous lessors and think it’s a bad idea for both
the lessee and the lessor."
Michael J. Witt, Esq.
MICHAEL J. WITT LAW OFFICES
4342 Oakwood Lane
West Des Moines, IA 50265
Tel: (515) 657-8706
Mobile: (515) 868-1067
Fax: (515) 223-2352
witt-law@live.com
(Former Advanta Leasing
and Wells Fargo Equipment Finance attorney)
[headlines]
--------------------------------------------------------------
Leasing 102
by Mr. Terry Winders, CLP
Signatures in Blue Ink
One of the most important requirements of lease documentation is to obtain properly signed documents. I know this sounds simple, but on many occasions the question is raised in legal court: who signed the documents and what was the signers authority to do so?
The first requirement is to have the signer indicate his title or office for the company. If there is no title then it can be assumed that it is a personal lease and will be governed by the consumers leasing law. In addition it is wise to have a witness sign on a witness line with an indication of his title. Also, many signatures are illegible and require a printed or type name below the signature to identify the signer. This is true with all signers.
I recommend that you have a line under the signer as well as the witness to the signature have a line (also, don’t forget to get a copy of both of their driver’s license as further evidence.) I also recommend it when it is a larger dollar lease and a notary is required to still have a place for a witness to sign. I have been questioned as a legal expert about signature verification, especially when the party denies they signed it, like a now ex-spouse.
A lease contract is not complete until both the lessee and the lessor have signed the lease. It is common for the lessor to hold up signing the lease agreement until it has gone through an audit to make sure everything required of the lease has been checked and verified. Sometimes the description of the equipment changes and must be modified and the lease payment changes between the signing of a lease agreement and the delivery of the equipment.
The larger the lessee, the more important to obtain proof that the signer has authority to bind the firm. This is accomplished with resolutions or partnership agreements. Occasionally, a credit report that has had information supplied by the lessee indicating the officers or owner names and their positions can be used.
One of the problems leases have today is that the lease language is hard to understand for the layman so they plead ignorance in court and claim they did not understand the terms of the lease agreement and should not be held to its terms. Therefore it is wise to include the following statement above the signatures:
Lessee acknowledges that it has received a copy of this document as executed by Lessee, with all blanks completed. Lessee acknowledges that it (a) has READ THIS DOCUMENT, HAS CAUSED THIS DOCUMENT TO BE EXAMINED BY LESSEE'S REPRESENTATIVES OR ADVISORS; (b) is thoroughly familiar with the transactions contemplated in this document; and (c) together with Lessee's representatives or advisors, if any, has had the opportunity to ask such questions of representatives of Lessor, and receive answers thereto, concerning the terms and conditions of the transactions contemplated in this document as Lessee deems necessary in connection with Lessee's decision to enter into the Lease, this Schedule, and any other schedules and/or supplements.
The last suggestion is the have the signatures signed in blue ink so the copies you make from the originals to send to the lessee can be distinguished from the originals.
Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty-five years and can be reached at terrywinders11@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
Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.
Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame. 502.649.0448/terrywinders11@yahoo.com |
(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)
[headlines]
--------------------------------------------------------------
Leasing Industry Help Wanted
Los Angeles, California www.maximcc.com |
 |
|
1 year experience preferred, salary/benefits |
| www.cflbc.com
Commercial Finance & Leasing Bank of Cardiff, Inc, a finance lender licensed pursuant to the California Finance Lenders Law, license #603G469 |
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.
[headlines]
--------------------------------------------------------------
“Tips on How Not to Be Nervous for a Job Interview”
Career Crossroad---By Emily Fitzpatrick/RII
Question: I tend to get nervous in a job interview and start to fidget. Can you give me any tips on how to handle this during an interview?
Answer: All your friends and colleagues will say, “Just relax.” Well, I know it is not that easy. Here are a few tips to help you so you can stop fidgeting during a job interview.
Tips:
- Thirty-inch distance is standard and appropriate; not further, not closer. Enjoy your space and let the interviewer enjoy their space.
- Don’t stare at the interviewer. Eye contact should remain steady and nonthreatening:
Do not look away from the interview for long periods of time.
Don’t close your eyes while being addressed
In trying not to stare, don’t keep shifty your eyes around. Walk slowly, deliberately and tall upon entering a room (watch your posture throughout the meeting.) - Sit straight. I recommend keeping your legs straight on the floor, not crossed (unless you are a female.)
- Maintain a naturally alert head position.
Negative:
1. Clasping your hands behind your head.
2. Adjusting your tie.
3. Slouching with hands in pockets.
4. Pulling your collar away from your neck.
5. Tapping (e.g. pen, foot, etc…)
6. Moving your hands toward a feature one perceives as deficient is a common unconscious reaction to stress (e.g. finger touching a facial blemish.)
Positive:
1.Subtly exposing your palms now and then as you speak can help to demonstrate that you are open, friendly and have nothing to hide.
2. When considering a question, “steeple” your fingers, which will be perceived as a neutral demonstration of your thoughtfulness.
3. Keeping your hands on your lap or holding a pen to take notes.
4. Pay attention to the questions.
5. Be friendly---try to enjoy the interview. Relax.
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
[headlines]
--------------------------------------------------------------
Leasing News Advisor
Don Myerson
Don Myerson
President
BSB Leasing, Inc.
1 Inverness Dr. East
Englewood, Colorado 80112
dmyerson@bsbleasing.com
800-945-3372 Ext. 336
I was born and raised in Chicago.
In 1974 I attended Colorado State University before dropping out without graduating in 1977. I returned to Chicago and was hired for my first job selling copiers and office equipment downtown Chicago. After 2 years of excellent sales training I made the decision that I liked Colorado much better than Chicago and I relocated to the Denver area in 1980.
In Denver I was hired for my second and last job again selling copiers and office equipment. At this job I continued my sales education and was introduced to leasing as a sales tool for selling copiers. After 1 year selling copiers in Denver it became apparent to me that I wasn’t very good at taking direction or working for someone else. In 1981 with $2,000 in savings I started my first company, Business Systems Brokers. I was selling used copiers and office equipment out of my converted garage.
With only $2,000 to acquire inventory I was forced to be a little creative. I contacted a few leasing companies in Denver to see if I could buy their repossessed copiers and office equipment. I struck gold when I was able to buy 3 full self storage lockers full of copiers and office equipment for the $2,000 (In 1981 leasing companies didn’t have full time asset departments). This inventory kept me in business for the first year. With my experiences selling copiers I knew I needed to offer some type of financing to help me sell my used copiers. In contacting additional leasing companies to buy equipment I learned of a company in Florida named Denrich Leasing. Denrich Leasing was a small ticket leasing company working with brokers nationwide. I started to offer Denrich’s leasing product to my copier customers in 1982 under the company name Business Systems Brokers dba; BSB Leasing (You think I could make up a name like that ?) After about a year I was making more profit brokering leases to Denrich then I was selling used copiers. And I didn’t have to worry about providing service on the lease like I did with the copiers.
In 1983 I sold my last copier and became BSB Leasing exclusively. I moved out of my garage (It was very cold in winter), moved into a real office and hired my first employee. The next twelve years were spent building a nice profitable little business working with equipment vendors in the Denver area.
In 1995 BSB Leasing was selected by Colonial Pacific Leasing to become a service center for brokers in the Western United States under a program they developed named Pegasus. That year BSB Leasing began working with lease brokers.
In 1998 after growing to 40 employees, offices in Denver and Cherry Hill, New Jersey and $75M in annual funding BSB Leasing was sold to UniCapital Corporation, a public company in Miami. I became a unit President reporting to Bruce Kropschot, then a Vice-Chairman of UniCapital.
After 2 years under the ownership of UniCapital in 2000 I re-acquired BSB Leasing along with my management team of Bruce Zwillinger and Ron Gonzales.
I continue to serve as President of BSB Leasing, Inc. working primarily out of my home on Kauai while Ron Gonzales runs the day to day from our headquarters in Denver. Bruce Zwillinger semi-retired in October, 2012 but continues to work with a select group of brokers.
In 2013 BSB Leasing, Inc. continues to work with lease brokers nationwide. We offer both direct funding under ( BSB Leasing, Inc. name ) BSB Direct Finance name and complete syndication services through our Syndication Desk.
I also serve on the board of Orion First Financial, LLC and Mintaka Financial, LLC in Gig Harbor, WA. In addition, Chief Credit Officer of Mintaka Financial, LLC since 2008
Other companies started include;
The Cruise Director, Inc. started in 1985 and sold in 1992
Info Marketing, Inc. started 1987 and sold 1990
Married for 20 years to the most beautiful women in the world Dolly. We have 4 great kids Dylan 19, McKenna 17, Matthew 14 and Dru 12.
Dylan age 19, McKenna age 17, Matthew age 14, Dru age 12 and Dolly
Dylan age 19, McKenna age 17, Matthew age 14, Dru age 12 and Dolly
outside of Aspen, Colorado – summer camping trip
Dylan age 19, McKenna age 17, Matthew age 14, Dru age 12
Dylan, 19 and Matthew 14 with dear old dad diving a reef off Koloa Landing in Poipu (on the way to the Beach house restaurant)
Here are photo's of Don and his family from the previous
biography, showing has his children are growing up fast.
(He and his family spend half their time in Colorado)
Don and Dolly with Dylan, Dru, Mathew, McKenna
(and half their time in Hawaii)
Don, Dylan, Mathew, McKenna, Dolly, Dru
Bruce Zwillinger at the surprise birthday for Don’s 50th last year
(The real Myerson family!!!)
[headlines]
--------------------------------------------------------------
Both Positive and Negative Implications
for Equipment Lessors in New York Decision
By Frank Peretore & Scott D. Chait
XEROX CORPORATION, Plaintiff, v. GRAPHIC MANAGEMENT SERVICES INC., GRAPHIC MANAGEMENT SERVICES, INC., MHW, INC., AND DAVID TABAH, Defendants
"The leased and purchased equipment was installed, but since early 2011, Defendants have failed to make payments under the Agreements. There is no dispute that Defendants defaulted under the Agreements.
"In their counter complaint, Defendants claim that during the negotiations of the Agreements, Plaintiff made certain statements that induced them into entering the agreements and that the equipment did not perform as promised. Defendants raise several defenses and counterclaims relating to these alleged statements. Defendants further allege that they notified Plaintiff of the alleged deficiencies in the product and they were "forced to ... lease additional equipment" to conduct their business. However, they [*8] allege that Plaintiff did not remove the leased equipment until August 2011." (1)
The equipment leasing and finance community should take note of this recent case out of New York for both positive and negative implications.
The case, Xerox Corp. v. Graphic Management Services Inc., et el, 2013 U.S. Dist. LEXIS 100657 (W.D.N.Y. July 17, 2013), involved the breach of several lease agreements for printing equipment. The Court granted the lessor’s motion for summary judgment in part and denied it in part and the decision is rife with issues both favorable to, and problematic for, the equipment leasing and finance community.
First, and perhaps most importantly, the court found that because the leases contained liquidated damages provisions, the ‘failure to mitigate’ defense was irrelevant. What’s particularly striking about this holding is that the damages provision appears to have been an industry standard lease damages provision – i.e., accrued rentals, interest, future rentals (present valued), the purchase option (in this case, fair market value), costs and attorneys’ fees. Therefore, while there is already case law that with “true leases”, failure to mitigate is not a defense, nonetheless the decision is another arrow in a lessor’s quiver for beating back such a defense (although, before citing this decision in future cases, please see below for an explanation of how the decision could harm a lessor’s position).
Second, the Judge upheld the contractual designation of the leases as Article 2A finance leases. While Article 2A defines what constitutes a “finance lease”, it can be a fact intensive endeavor to prove that your lease qualifies (read: it could prevent a quick resolution on summary judgment). Therefore, having an enforceable provision where the parties agree that the lease constitutes a finance lease, is critical. That way, protections such as the statutory “hell or high water” provision are automatically triggered without having to delve into the problematic process of trying to prove the lease qualifies under Article 2A as a finance lease.
Third, the Judge reiterated a whole bevy of great standard protections for lessors: (1) a limitation on the lessor’s liability is enforceable so long as the limitation is not unconscionable and in a commercial setting between business parties, there is a presumption of conscionableness; (2) contractual provisions waiving warranties of fitness for a particular purpose are enforceable; (3) under New York law, finance leases are excluded from leases which contain an implied warranty of merchantability; and (4) a forum selection clause can be upheld even when the lessee (or any defendant) is a small business and litigation in the selected forum would be burdensome.
That all being said, while the decision is favorable in many regards, there are a couple of significant problems with the decision which the community should take stock of as a reminder to ensure they are employing certain best practices.
First, the Court denied summary judgment in part to afford the defendants an opportunity to conduct discovery on the issue of what constituted the fair market value (FMV) of the equipment (again, upon default, the lessor was entitled to damages which included the FMV purchase option). The court denied this prong of the motion despite the fact that the lessor put forth an affidavit from an employee attesting to the FMV and submitted copies of invoices. The judge found that despite these submissions, the lessor did not adequately explain how it calculated the figure.
While this is disconcerting and the decision should therefore be cited in future cases with caution, the issue can be obviated by ensuring that any submissions on damages contain sufficient support. In this case, the lessor’s affidavit simply included a paragraph stating what they believed the FMV of the equipment to be. While we are certainly cognizant of business exigencies – especially on smaller deals – lessors should always consider attaching at the very least a desk-top appraisal, if not an actual appraisal. Moreover, an affidavit on equipment valuation should be submitted from someone who has experience and expertise valuing, remarketing and selling such equipment. With the proper support, this aspect of the decision can easily be neutralized.
Second, and perhaps more troubling, the Judge also partially denied summary judgment to allow the defendants an opportunity to conduct discovery on the issue of whether they revoked acceptance of the equipment. What’s particularly disturbing about this finding is that the general law is that revocation of acceptance must occur within a reasonable time after the lessee discovers, or should have discovered, that the goods were nonconforming and they must notify the lessor of the revocation. Here, the equipment was delivered in March 2010 and it was not removed by the lessor until August 2011 (after default). The defendants didn’t even allege the exact timing of their revocation, if they even notified the lessor in writing, or if they even discontinued use of the equipment within a reasonable amount of time.
While it’s unclear from the record if the lessor obtained a delivery and acceptance receipt (DNA), it does appear that the lessee made payments on the leases for some time before defaulting (i.e., it ratified the transactions). However, assuming payments were indeed made for some time, it also appears the lessor did not make a ratification argument. Perhaps a properly asserted ratification argument would have overcome this argument.
This last aspect is clearly a troubling finding and we caution citation of this decision in future cases for this reason alone, unless you have plenty of evidence of the FMV of the equipment and an irrefutable ratification argument. However, at the very least the decision is a solid reminder that lessors should obtain definitive proof of acceptance such as obtaining – preferably a week or two after actual delivery – a properly executed delivery and acceptance receipt, and always explore a ratification argument where a lessee conveniently makes a revocation of acceptance argument long after delivery and only upon default.
-
Xerox v. Graphic Management Services Inc.’ et al.
http://leasingnews.org/PDF/Xerox_GMS_862013.pdf
[headlines]
--------------------------------------------------------------
Construction/Land Development Loans
Take Florida Bank Down
-- Bank Beat
Despite the hyperbole, several states are still having real estate problems from overbuilding, such as Georgia and Florida.
The seven branches of First Community Bank of Southwest Florida, Fort Myers, Florida, also operating as Community Bank of Cape Coral, were closed with C1 Bank, Saint Petersburg, Florida, to assume all of the deposits. Established Marcy 1, 1999 there were 62 full time employees as of March 31, 2013 at their four offices in Fort Myers, three in Cape Coral, and one in Bonita Springs. Year-end 2006 they had 74 full-time employees before they acquired the three offices in Cape Cora April 25, 2009.
First Community took its first year-end lost with this merger (-$182 ,000 ) and recorded it highest non-current loans at $11.4 million. It moved completely in the wrong direction at the worst economic time of all.
Records show Community Bank of Cape Coral had equity capital of $6.6 million end of 2008 and a minus $2 million loss before extraordinary items prior to the merger with First Community Bank of Southwest Florida.
http://www.bankencyclopedia.com/Community-Bank-of-Cape-Coral-57796-Cape-Coral-Florida.html
The next year it had its largest loss, 2009 , -$11.5 million with $7.9 million charge off.
The end of June, 2013, First Community Bank of Southwest Florida had the lowest capital ratios on banks seen to date:
Tier 1 risk capital Ratio was -0.0031 Tier 1 leverage ratio was -0.0025
It lost money since 2007 with heavy non-current loans, with the highest March 31, 2013 (current numbers were not available) $19.9 million, with a major loss for the half-year of 2013: $9 million.
Construction/Land Development loan charge offs reflect in the single-family new house construction building permits:
1997: 45 buildings, average cost: $93,500
1998: 72 buildings, average cost: $78,500
1999: 120 buildings, average cost: $108,100
2000: 163 buildings, average cost: $138,900
2001: 267 buildings, average cost: $130,900
2002: 327 buildings, average cost: $137,500
2003: 466 buildings, average cost: $103,800
2004: 0 buildings
2005: 1012 buildings, average cost: $137,300
2006: 1435 buildings, average cost: $186,400
2007: 388 buildings, average cost: $167,600
2008: 219 buildings, average cost: $256,600
2009: 174 buildings, average cost: $230,500
2010: 215 buildings, average cost: $249,300
2011: 337 buildings, average cost: $228,500
http://www.city-data.com/city/Fort-Myers-Florida.html
(in millions, unless otherwise)
Net Equity
2006 $32.6
2007 $24.8
2008 $21.0
2009 $17.3
2010 $10.8
2011 $10.5
2012 $8.4
6/30 -$1.4
Profit
2006 $1.3
2007 -$5.1
2008 -$182,000
2009 -$11.5
2010 -$6.6
2011 -$5.3
2012 -$1.7
6/30 -$9.0
Non-Current Loans
2006 $5.0
2007 $4.0
2008 $11.4
2009 $4.8
2010 $9.0
2011 $5.8
2012 $10.6
3/31 $19.9
Charge Offs
2006 $2.5 ( $2.2 construction/land, $137,000 commercial/indust., $125,000 1-4 family)
2007 $5.1 ( $4.8 construction/land, $264,000 commercial/indust., $47,000 individuals)
2008 $2.6 ( $1.4 construction/land, $1.0 1-4 family, $228,000 commercial/ind.,$79,000 individual.)
2009 $7.9 ( $3.8 const./land, $1.1 nonfarm/nonres.,$442,000 comm./indus.,$197,000 multi-family, $79,000 individuals)
2010 $6.5 ($3.5 commercial/industrial, $868,000 1-4 family, $824,000 const./land, $707,000 multifamily, $541,00 nonfarm/nonres., $35,000 individuals)
2011 $3.0 ( $2.1 nonfarm/nonresidential., $592,000 constr./land, $213,000 1-4 family, $98,000 individual., -$21,000 commercial/industrial
2012 $2.3 ($1.2 1-4 family residential, $925,000 nonfarm/nonres.,$401, 000 commercial/industrial, $28,000 construct./land, $16,000 individuals)
6/30 $1.6 ($896,000 1-4 family, $396,000, nonfarm/nonresidential,$363,000 commercial/industrial.
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.
The bank tried to turn this around, adjusting its board of directors:
Board of Directors:
Gerard A. McHale, Jr. Certified Public Accountant
Gene R. Solomon Certified Public Accountant
Paul E. Malbon Operator of Best Western Beach Resort, a gulf front hotel
Randall P. Henderson, Jr. Real Estate Investment
Robert D. Knight, Jr. Custom Home Builder
Rudolf P. Guenzel, Chairman of the Board and Chief Executive Officer (named chairman October 13, 2012*)
Suzanne H. Edwards Wife; Mother; Community Volunteer
Wayne Kirkwood President and Chief Executive Officer of Kirkwood Electric, Inc.
*October 13, 2012 Rudolf "Rudy" Guenzel -has been named CEO and chairman of the board at First Community Bank of Southwest Florida (www.fcb-yourbank.com). With more than 45 years of banking experience, he was previously president and CEO of BancFlorida Financial Corp. in Naples and Peoples Bank of California in Los Angeles, among others. Guenzel will be responsible for First Community Bank's operations and oversee board of directors' meetings.
Involved in Imperial Credit and real estate
http://www.prnewswire.com/news-releases/imperial-credit-industries-announces-appointment-of-new-chief-executive-officer-77526017.html
NY Times states: European American Bank has named Rudolf P. Guenzel and Richard W. Dalrymple executive vice presidents.
http://www.nytimes.com/1981/01/12/business/executive-changes-219888.html
It was much too late in 2012.
As of March 31, 2013, First Community Bank of Southwest Florida had approximately $265.7 million in total assets and $254.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, C1 Bank agreed to purchase essentially all of the failed bank's assets
The FDIC estimates that cost to the Deposit Insurance Fund will be $27.1 million.
Bank of Southwest Florida is the 17th FDIC-insured institution to fail in the nation this year, and the third in Florida.
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
 |
[headlines]
--------------------------------------------------------------
Top Stories July 29--August 2
(You May Have Missed)
Here are the top stories opened by readers:
(1) Reaction to Leasing Icon Ira Romoff Passing away
http://leasingnews.org/archives/Aug2013/8_02.htm#reaction
Leasing News Extra Not Counted for Technical Reasons
Leasing Icon Ira Romoff Passes Away
http://leasingnews.org/Pages/extra_romoff.html
(2) Archives---July 29, 2002
GE Capital Forms Four Divisions
http://leasingnews.org/archives/Jul2013/7_29.htm#archive1
(3) Leasing 102 by Mr. Terry Winders, CLP
“Making Money by Leasing”
http://leasingnews.org/archives/Jul2013/7_29.htm#making
(4) The Problem with Accepting Late Payments
By Tom McCurnin
http://leasingnews.org/archives/Jul2013/7_29.htm#problem
(5) Marlin Business Services Reports $4.5 MM 2nd Quarter
---50% Growth in Six Month to Previous Time Period
http://leasingnews.org/archives/Jul2013/7_31.htm#marlin
(6) Archives---July 29, 2002
Anderson joins LeaseTeam, Inc.
After Six Years with CapitalStream.com
http://leasingnews.org/archives/Jul2013/7_29.htm#archives2
(Tie) (7) Restaurant Chains Who Once were Famous
by Michael B. Sauter and Alexander E. M. Hess
http://leasingnews.org/archives/Aug2013/8_02.htm#chains
(Tie) (7) Sales Makes it Happen by Steve Chriest
"Rule 23"
http://leasingnews.org/archives/Jul2013/7_31.htm#rule
(9) August 1, 2013 --Leasing Schemes’ Court Cases
by Christopher Menkin
http://leasingnews.org/archives/Aug2013/8_02.htm#cases
(10) Cole Taylor Bank owner sued over sale
http://www.chicagotribune.com/business/breaking/chi-cole-taylor-bank-owner-sued-20130730,0,3061797.story
(11) New Hires--Promotions
http://leasingnews.org/archives/Aug2013/8_02.htm#hires
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)
[headlines]
--------------------------------------------------------------
Classified ads— Accounting/Aircraft/Appraisals
Leasing Industry Outsourcing
(Providing Services and Products)
Appraisals: Boston, MA |
Appraisals: National Equipment Appraisal prepares Certified Machinery and Equipment Appraisals. IRS qualified, USPAP Compliant. Nationwide - fast turnaround. Visit nationalequipmentappraisal.com or call 714-282-1525.” |
| Accounting: Dallas, TX Provide cost effective Sales and Use Tax and Property Tax consulting and administration Services to the leasing industry. Many leasing industry referrals available. E-mail: mattm@osgsolutions.com |
Accounting: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available, (216) 658-5618, E-mail gary@avptc.com |
| Aircraft Delivery: Seattle, WA Global Aircraft Delivery ferries all types of aircraft all over the world. We are a unique ferry company moving your aircraft with our expert turnkey operation. www.globalaircraftdelivery.com E-mail:info@globalaircraftdelivery.com |
Asset Management: Canada Cease Bailiff Services Incorporated: Asset Investigation/Tracing; Asset Recoveries; Asset Protection/Security Asset Liquidations/Sales; Ottawa, Canada;www.ceasebailiff.ca dave@ceasebailiff.ca; Phone 613 898 7376 ; Fax 613 225 2452 |
Asset/Recovery & Collections: |
Nationwide Seasoned anfair priced workforce is at your service for all lease collections, repossessions, and asset liquidations, appraisals. Call Nassau Asset Management 800-462-7728 dcastagna@nasset.com |
| Asset/Recovery: NorthWest Sequent provides collateral recovery, remarketing, and storage services to lenders with assets located in the greater Pacific Northwest. Professional services at reasonable pricing. Contactrossr@sequentam.com |
Asset Marketing/Recovery: Remarking solutions for big rigs assets and trucking related companies including collections, recovery, repair and re-sales. North South Leasing cell # 586-909-8797bob@nsleasing.com |
 Appraisals/Asset RecoveryMelville, New York Auctions, Appraisals, National Repossessions. ALL asset classes. 20+ year team works for you. Spend less, Net More… Fast! Ed Castagna 516-229-1968 ecastagna@inplaceauction.com |
Appraisals/Inspections – Construction & Mining Heavy Equipment, Transport, Agriculture and Manufacturing. We provide Certified Appraisal Reports, (USPAP Compliant), Inventory Inspections, Collateral Valuation, VIN and Serial Number Verification with Detailed Photos, Lessee and Vendor Site Inspections including Customized Inspections. In a Hurry? Try our Kwik-Kwote Emailwww.MobileEquipAppraisals.com |
All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
 |
[headlines]
--------------------------------------------------------------
Labrador Retriever/Dalmatian/Mixed
San Diego, California Adopt-a-Dog
Latin Puppy Magnus
Age: Young
Sex: Mail
Size: Medium
Good with dogs: Yes
Good with cats: Yes
Good with kids: Yes
Declawed: No
House trained: No
Special Needs: No
Spay/Neutered status: No
Up-to-date on vaccinations: Yes
California Labradors Retrievers & More Rescue
P.O. Box 178196
San Diego, CA 92177-8196
Phone: 858-273-5386
Email: doginfo@labsandmore.org
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/
[headlines]
--------------------------------------------------------------
News Briefs----
Taycor Financial is Expanding Its Sales Department
http://www.prurgent.com/2013-08-01/pressrelease309646.htm
FireFly launches $99 per month Phoenix POS lease plan
http://www.pizzamarketplace.com/article/108706/FireFly-launches-99-per-month-Phoenix-POS-lease-plan
U.S. Rental Revenue Continues to Outpace the Economy
http://www.marketwatch.com/story/us-rental-revenue-continues-to-outpace-the-economy-2013-08-05
How The Exposure Draft Might Affect Fleets And Leasing Companies
http://www.mondaq.com/x/255572/Financial+Services/
The Sale of AIG's Aircraft-Leasing Unit Remains Grounded
http://www.businessweek.com/articles/2013-08-02/the-sale-of-aigs-aircraft-leasing-unit-remains-grounded
Taco Bell Is The Worst-Paying Fast Food Company, In-N-Out Burger Is The Best
http://www.businessinsider.com/how-much-fast-food-jobs-pay-2013-7?goback=%2Egde_4298752_member_262660448
[headlines]
--------------------------------------------------------------
--You May Have Missed It
Amazon's Bezos: Retail revolutionary and newspaper owner?
http://www.usatoday.com/story/tech/2013/08/05/jeff-bezos-agrees-to-buy-washington-post/2620943/
[headlines]
--------------------------------------------------------------
SparkPeople--Live Healthier and Longer
Eat Breakfast to Lose Weight
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=273
[headlines]
--------------------------------------------------------------
This poem by Robert L. Harrison depicts one of the best teams of all times. The 1927 Yankees or "Murderer's Row" were legendary and this poem pays tribute to those magnificent Yanks. In 1929, Babe was the first to hit 500 home runs.
1927 Yankees
by Robert L. Harrison ©
Published: New York Baseball Poems (1999)
Gather 'round you fans of baseball
you lovers of season past,
let me take you back to the greatest team
that ever played on grass.
Guided by Miller Huggins
known as "murderer's row,"
never was such a string of pearls
so feared this side of Hell.
Greedy was this awesome bunch
with Ruth and Gehrig leading the punch,
and Hoyt and Moore on the mound
shooting all the batters down.
Gasping crowds assemble
like sinners in a tent,
watching all the other teams
trying to repent.
God blessed those boys of summer
those pin-striped renegades,
with a winning passion
while others saw only the haze.
Gathering in the rosebuds
by playing excellent ball,
called the "five o'clock lightning"
taking the pennant in the fall.
Gone were any pretenders to the throne
no on stood wherever these Yankees roamed,
twenty-five men made up this team
and all had a year better than their dreams.
1927 Yankees by Robert L. Harrison ©
Fast Facts
Murderer's Row was anchored by Babe Ruth, who hit sixty home runs and batted .356; and Lou Gehrig, who had forty-seven home runs and batted .373.
The team won one-hundred ten games and the other members included: Earle Combs, who hit .356 and led the league in hits, singles and triples; Tony Lazzeri, who hit eighteen home runs and batted .309; and Bob Meusel who hit .337.
This poem is a Baseball Almanac exclusive and appears here with expression written permission from the author
http://baseball-almanac.com/poems.shtml
[headlines]
--------------------------------------------------------------
Sports Briefs----
M.L.B. Suspends Rodriguez and 12 Others for Doping
http://www.nytimes.com/2013/08/06/sports/baseball/mlb-suspends-12-in-doping-investigation.html?hp&_r=0
Alex Rodriguez speaks out after suspension
http://www.chicagotribune.com/videogallery/76919899/Video-Alex-Rodriguez-speaks-out-after-suspension
Oregon Football Complex Is Glittering Monument to Ducks’ Ambitions
http://www.nytimes.com/2013/08/03/sports/ncaafootball/oregon-football-complex-is-glittering-monument-to-ducks-ambitions.html?pagewanted=all
Fox unveils NFL broadcast teams for 2013 season
http://www.sbnation.com/2013/8/5/4590808/nfl-fox-broadcast-teams
Rex Ryan asks Jets fans to give Sanchez a break
http://espn.go.com/new-york/nfl/story/_/id/9541149/rex-ryan-asks-new-york-jets-fans-give-mark-sanchez-break
[headlines]
--------------------------------------------------------------
California Nuts Briefs---
Jerry Brown's intervention to avert BART strike has decades-old precedent
http://blogs.sacbee.com/capitolalertlatest/2013/08/jerry-brown-steps-in-to-avert-bart-strike-orders-investigation.html
[headlines]
--------------------------------------------------------------
“Gimme that Wine”
http://www.youtube.com/watch?v=EJnQoi8DSE8
US Falling behind in planting grapes; shortage ahead
http://www.businessinsider.com/us-wine-grape-shortage-developing-2013-8
Napa County Audit shows 7 wineries exceeding permit limits
http://napavalleyregister.com/star/business/audit-shows-wineries-exceeding-permit-limits/article_500264ee-faee-11e2-9f88-001a4bcf887a.html
Caymus Pays $1 Million for Alleged Violations of Napa County Rules
http://www.winespectator.com/webfeature/show/id/48765
Thomas Jefferson, Donald Trump Share Love of Grapes in Virginia
http://www.businessweek.com/news/2013-08-05/thomas-jefferson-donald-trump-share-love-of-grapes-in-virginia
Don’t pull the cork — just pour the wine
http://www.boston.com/business/technology/2013/07/28/don-pull-the-cork-just-pour-the-wine/5viCtcLNHAJEAKzEtbh77O/story.html
Postal Service Considers Cutting Into Alcohol Shipping Business
http://abcnews.go.com/blogs/business/2013/08/postal-service-considers-cutting-into-alcohol-shipping-business/
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
[headlines]
----------------------------------------------------------------
This Day in History
1736 -Birthday of Mary Brant, a Mohawk, had eight children with the British superintendent of Indian Affairs, Sir William Johnson. She managed his household and was his hostess for almost 25 years until his death in 1774. After Johnson's death in 1774, Brant and her children returned to her native village of Canajoharie on the Mohawk River. A Loyalist during the American Revolutionary War, she fled to British Canada, where she worked as an intermediary between British officials and the Iroquois. After the war, she settled in what is now Kingston, Ontario. In recognition of her service to the Crown, the British government gave Brant a pension and compensated her for her wartime losses.
1774- English religious leader Ann Lee (1736-1784) and a small band of followers first arrived in America. Her sect called itself the United Society of Believers in Christ's Second Coming, but to the rest of the world her followers came to be known as the "Shakers."
http://www.cr.nps.gov/nr/travel/pwwmh/ny16.htm
1787: the Constitutional Convention engaged in the “Great Debate” over the draft constitution, during which it determined that Congress should have the right to regulate foreign trade and interstate commerce, established a four-year term of office for the president and appointed a five-man committee to prepare a final draft of the Constitution.
1801- The Great Religious Revival of the American West began at a Presbyterian camp meeting in Cane Ridge, Kentucky.
http://www.sendrevival.com/history/caneridge/old_cane_ridge_meeting_house.htm
http://www.uky.edu/KentuckyAtlas/ky-cane-ridge.html
1815-With the end of the Napoleonic wars in Europe, and laws about bringing “slaves” into the United States as “free labor,” immigration to the U.S. increased to new levels as work was to be had. Between 1815 and 1860, 5,000,000 persons came to the U.S. Over half of the immigrants came from the British Isles, mostly from Ireland. The next largest contingent arrived from Germany, 1,500,000, not counting German-speaking French citizens from Alsace and Lorraine. More than half the German immigrants settled in the upper Mississippi and Ohio river valleys. They brought new techniques and craftsmanship. For instance, Ohio glassware was a superior type of glassware manufactured from 1815 to 1850. The designation “Ohio” was generally applied both to the blown and molded glass produced in the Ohio River Valley region. Three of the leading manufacturers of this glassware were located in Mantua, Kent, and Zanesville, all cities of Ohio. The designation “Ohio” was also used to identify glass factories in the neighboring regions of West Virginia and western Pennsylvania.
1821- Birthday of Edward H. Plumptre, Anglican theologian. He served on the Old Testament committee for the 1881 English Revised Version of the Bible. Today, he is better remembered as author of the hymn, "Rejoice, Ye Pure in Heart."
1829-Birthday of Marie Elizabeth Zakrzewski - pioneer U.S. doctor. She graduated from a school for midwives without incident but when she was appointed chief midwife and professor, male opposition forced her resignation. On arriving in the U.S., she met Elizabeth Blackwell who helped her enter Western Reserve medical school for regular medical training. She assisted the Blackwell sisters in the New York Infirmary and ran the institution while Elizabeth was in England. She served as physician and professor at the New England Female Medical College in Boston but left because the founder saw women's position in medicine limited to midwifery. She founded the New England Hospital for Women and Children in 1862 and served in various capacities there until 1899.
In addition to her pioneering medical work, she developed lunchrooms for the working poor women and aid for poor Jews. Her New England Hospital was the first one to trained nurses and offer social services.
1862 -- CSA ironclad "Arkansas" is badly damaged in Union battle.
( actual accounts: http://www.missouridivision-scv.org/mounits/cssark.htm )
1864-The Rebels evacuate Fort Powell, Mobile Bay. attack Yesterday we wrote about the Battle of Mobile Bay, Alabama starting. It actually lasted until August 23. David G. Farragut, commanded a fleet of fourteen wooden ships and four ironclads. running through a minefield and past Confederate forts Gains, Morgan, and Powell, Farragut’s fleet defeated a Confederate flotilla, including the Confederate ironclad Tennessee, and took one of the South’s last major ports. The city of Mobile was taken in 1865.
1870- White conservatives suppressed black vote and captured the Tennessee legislature. A reform movement was afoot and states started outright restricting blacks from voting, others made poll tax and literacy tests a requirement. The Southern states voting as a block made deals for a new president in an electoral contest, by tenure gained control of committees as senator were voted by the state legislators in this century, and while the North beat the South in the Civil War, the South now controlled bills, committees, and legislation and would dominate for almost a century to follow.
1890 - Denton ‘Cy’ Young pitched his first major-league baseball game on this day. He led the Cleveland Spiders past the Chicago White Sox. Young went on to enjoy a great baseball career, winning a total of 511 games (95 more than second place Walter Johnson) ... averaging more than 23 victories over 22 seasons, playing for Cleveland, St. Louis, and Boston (where he played in the first World Series, and won). The Cy Young Award was established in 1956, when the Baseball Writer's Association of America bestowed the honor on the best pitcher in major-league baseball for that year. The award has been presented every year since. In fact, from 1967 on, two Cy Young awards have been presented annually to the best pitcher in each major league.
http://memory.loc.gov/ammem/today/aug06.html
1905-Birthday of Clara Bow - U.S. film actor. CB was called the "'It' girl" as she portrayed the carefree flapper in early Hollywood films. She starred in more than 30 films including the classic Wings but her strong Brooklyn accent prevented her from making it in talking pictures. Her various sex scandals also lost fan support but it was her voice that ended her movie career. She won a beauty contest while still in high school that sent her to Hollywood. A good biography is J. Morella's The 'It' Girl: the Incredible Story of Clara Bow (1976).
http://www.clarabow.net/
http://www.gildasattic.com/clarabow.html
http://www.csse.monash.edu.au/~pringle/silent/ssotm/Jan96/
http://www.seeing-stars.com/ImagePages/ClaraBowGravePhoto.shtml
1906-Birthday of trombone player Vic Dickenson, Xenia, OH, Died November 16,1984.
http://www.harlem.org/oldsite/people/dickenson.html
http://www.harlem.org/people/dickenson.html
1911- Film and television pioneer and comedian Lucille Ball born at Butte, MT. In addition to her many other film and television credits, Lucille Ball always will be remembered for her role in the 1950s CBS sitcom I Love Lucy. As Lucy Riccardo, the wife of band leader Ricky Riccardo (her real-life husband, Desi Arnaz), her comedic style became a trademark of early television comedy. She was instrumental in many pioneering innovations in TV production. Desilu Productions, the company founded by Ball and Arnaz, insisted on filming in Hollywood instead of New York. This move is largely credited with creating a shift in TV production to the west coast. In addition, theirs was the first TV show to use 35mm film to increase the clarity of the final image, the first to use three cameras instead of one and the first to be filmed in front of a live audience. On Apr 1,1958, the final episode was broadcast, but I Love Lucy now is seen worldwide in syndication. Ball continued her involvement both before and behind the camera, appearing in three additional sitcoms. She became the first woman to head a major motion picture and TV studio when she purchased Arnazs share of Desilu Productions. Ball and Arnaz were divorced in 1960; she later married Gary Morton. She died Apr 26, 1989, at Los Angeles, CA.
http://www.classicmoviemusicals.com/ball.htm
1918-Birthday of jazz promoter/sponsor Norman Granz , Los Angeles, CA.
http://www.artistdirect.com/music/artist/card/0,,407567,00.html
1918 - Unusually hot weather began to overspread the Atlantic Coast States, from the Carolinas to southern New England. The temp- erature soared to an all-time record high of 106 degrees at Washington D.C., and Cumberland and Keedysville hit 109 degrees to establish a state record for Maryland. Temperatures were above normal east of the Rockies that month, with readings much above normal in the Lower Missouri Valley. Omaha NE reached 110 degrees.
1921—Jazz flautist Buddy Collette birthday.
http://www.vh1.com/artists/az/collette_buddy/bio.jhtml
(“Swinging Shepard’s” is a great album ).
1925-Birthday of Bill Haley, rock 'n' roll's first teen idol, born in Highland Park, Michigan. Haley, with his group, the Saddlemen, at first played country-and-western, but in 1952 he dropped the cowboy image and changed the band's name to the Comets. Haley began recording cover versions of R'n'B hits, and in 1953, his "Crazy Man Crazy" became the first rock 'n' roll record to make the Billboard pop chart. Bill Haley and the Comets' biggest success came in 1955 when "Rock Around the Clock" rose to number one. Haley was the most popular rock 'n' roll idol until Elvis Presley came along, but by 1958 his career was basically over. He continued to work as a nostalgia act, mainly in Britain and Europe. Haley died on February 9th, 1981 in his hometown of Harlingen, Texas.
http://www.rockabillyhall.com/BillHaley.html
1927-Birthday of Canadian composer Dolores Claman, born in Vancouver. She and her husband, Richard Morris, became one of the country's most successful jingle-writing teams in the mid-1960's. Claman and Morris have also written several stage musicals and film scores, the theme for CBC's "Hockey Night in Canada" and the score for the film "A Place to Stand," made for the Ontario pavilion at Expo 67. The film won an Oscar.
http://www.hockeytheme.com/FrameRHistory.htm
1929-Birthday of Janice Lee York Romary - U.S. Olympic fencer (1952-1968) who in 1968 became the first woman to be the U.S. flag bearer in the opening ceremonies of the Olympics (Mexico City).
1930-Birthday of singer Abbey Lincoln, Chicago, IL.
http://www.amazon.com/exec/obidos/ASIN/B000000Y4A/perpetualstarlig/
002-1654770-2338401
1930- Mysterious disappearance at age 41, Joseph Force Crater, justice of the New York State Supreme Court. Never seen or heard from after disappearance on this date. Declared legally dead in 1939. “Where is Judge Crater” signs appeared everywhere in the thirties.
http://home.eznet.net/~dminor/TM980613.html
1932-Birthday of singer and actress Della Reese.
http://allmusic.com/cg/amg.dll?p=amg&sql=B63320roac489
1937-Maxine Sullivan records “Loch Lomond,” NYC ( Voc 3169).
http://www.harlem.org/people/sullivan.html
1945-Memorial observances in many places for victims of the first atomic bombing of a populated place, which occurred at Hiroshima, Japan in 1945,( it was August 5 in the United States ) when an American B-29 bomber, “Enola Gay,” dropped an atomic bomb over the center of the city. The pilot was Colonel Paul Warfield Tibbets, Jr. of Miami, FL., and the bombardier was Major Thomas W. Ferebee of Mocksville, NC. More than 205,000 civilians died either immediately in the explosion or subsequently of radiation. If you had been reading history in America in the preceding months, it would have given you a sense of the time and in order to save lives, the atomic bomb was dropped.
1946-Birthday of American composer Brian Holmes, Washington, DC.Brian Holmes usually composes for voice or chorus
1948 - Seventeen-year-old Bob Mathias won the decathlon competition at the Olympic Games being held in London, England.
1949---Top Hits
Some Enchanted Evening - Perry Como
Again - Gordon Jenkins
Riders in the Sky - Vaughn Monroe
I’m Throwing Rice (At the Girl that I Love) - Eddy Arnold
1950---THOMPSON, WILLIAM. Mendal of Honor
Rank and organization: Private First Class, U.S. Army, 24th Company M, 24th Infantry Regiment, 25th Infantry Division. Place and date: Near Haman, Korea, 6 August 1950. Entered service at: Bronx, N.Y. Birth: New York, N.Y. G.O. No.: 63, 2 August 1951. Citation: Pfc. Thompson, distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action against the enemy. While his platoon was reorganizing under cover of darkness, fanatical enemy forces in overwhelming strength launched a surprise attack on the unit. Pfc. Thompson set up his machine gun in the path of the onslaught and swept the enemy with withering fire, pinning them down momentarily thus permitting the remainder of his platoon to withdraw to a more tenable position. Although hit repeatedly by grenade fragments and small-arms fire, he resisted all efforts of his comrades to induce him to withdraw, steadfastly remained at his machine gun and continued to deliver deadly, accurate fire until mortally wounded by an enemy grenade. Pfc. Thompson's dauntless courage and gallant self-sacrifice reflect the highest credit on himself and uphold the esteemed traditions of military service.
1952-- At the age of 46, Satchel Paige becomes the oldest pitcher major league history to hurl a complete-game shutout as he beats the Tigers in 12 innings, 1-0. This record will last until Phil Nieikro blanks the Blue Jays, 8-0 to wins his 300th career victory in 1985.
1955- "Baby, Let's Play House" became Elvis Presley's first national chart single, reaching number 10 on Billboard's country chart.
1956-Birthday of soprano sax player Kenny G, whose full name is Kenny Gorelick.
1956-- The Alan Freed movie Rock! Rock! Rock! goes into production, featuring Tuesday Weld (her singing vocals dubbed by Connie Francis), Chuck Berry, Frankie Lymon & the Teenagers, The Moonglows, The Flamingos, and LaVern Baker.
1957---Top Hits
Love Letters in the Sand - Pat Boone
Tammy - Debbie Reynolds
Diana - Paul Anka
(Let Me Be Your) Teddy Bear - Elvis Presley
1957- 16 year-old John Lennon and his group the Quarrymen recorded "Baby Let's Play House" and "Puttin' on the Style" at a church social in Liverpool. The recording, made on the day Lennon met 14 year-old Paul McCartney, sold at a London auction in September 1994 for the equivalent of $156,000 Canadian.
1959 - A bucket survey showed that thunderstorms dropped 16.70 inches of rain on parts of Decatur County IA. The total was accepted as Iowa's 24 hour rainfall record.
1960-Chubby Checker performs "The Twist" on American TV for the first time on "American Bandstand.
1962--Frank Ifield topped the UK charts for the first of seven straight weeks with "I Remember You". The record would become the second highest-selling single of the year in Britain and a #5 hit in the US.
1963- the New York Mets hired several rock 'n' roll acts, including Chubby Checker and Dee Dee Sharp, to perform before a game with the Pittsburgh Pirates.
1965-The Voting Rights Act of 1965 signed into law by President Lyndon Johnson, designed to thwart attempts to discriminate against minorities at the polls. The act suspended literacy and other disqualifying tests, authorized appointment of federal voting examiners and provided for judicial relief on the federal level to bar discriminatory poll taxes. Congress voted to extend the Act in 1975, 1984, and 1991.
1965- Marty Balin and Paul Kantner formed a folk-rock group that evolved into the Jefferson Airplane, the premier San Francisco psychedelic band of the late '60s. The Airplane made its debut the following month at a Haight-Ashbury club, and was signed to RCA later in the year. "The Jefferson Airplane Takes Off," their first album, was awarded a gold record in 1966.
http://www.jeffersonairplane.com/
1965---Top Hits
(I Can’t Get No) Satisfaction - The Rolling Stones
I’m Henry VIII, I Am - Herman’s Hermits
What’s New Pussycat? - Tom Jones
The First Thing Ev’ry Morning (And the Last Thing Ev’ry Night) - Jimmy Dean
1967 - Dean Chance of the Minnesota Twins pitched five innings of perfect baseball, leading his team to victory over the Boston Red Sox. Chance was only the third player to pitch a shortened, perfect game.
1971 - The last remaining troops of the Fourth Battalion, 503rd Infantry of the 173rd Airborne Brigade, (the first U.S. Army ground combat unit to arrive in Vietnam in May 1965), cease combat operations and begin preparations to leave Vietnam. The first U.S. ground combat unit of any branch to reach Vietnam was the Third Marine Regiment, Third Marine Division, which began arriving on March 8, 1965. The initial U.S. combat forces were followed by a vast array of combat, combat support, and logistics units that together with U.S. Navy and Air Force personnel in-country reached a peak of 543,400 in April 1969. In June 1969, President Richard Nixon gave the order, as part of his "Vietnamization" policy, which began the process of reducing American troop strength; the troop withdrawals began the following fall and continued until the Paris Peace Accords were signed in January 1973.
1972 -Hitting his 660th and 661st career homers, Hank Aaron breaks Yankee legend Babe Ruth's record for most home runs with one team. Hammerin' Hank's' second homer of the day is a 10th inning blast which enables the Braves to beat the Reds, 4-3
1973- Roberto Clemente becomes the first Latin-born player to be inducted into the Hall of Fame.
1973---Top Hits
The Morning After - Maureen McGovern
Live and Let Die - Wings
Diamond Girl - Seals & Crofts
Lord, Mr. Ford - Jerry Reed
1973 - No. 1 Billboard Pop Hit: ``The Morning After,'' Maureen McGovern. The song is the theme to the film ``The Poseidon Adventure.''
1979- The Cars don't pay attention to the sophomore jinx predictions and go two-for-two: "Candy-O" is their second straight album to go platinum.
1980-Birthday of American composer Matthew Logan, born Jacksonville,
http://www.myspace.com/matthewloganmusic
http://www.musicbymatthewlogan.com/
1981 - Golfing legend Lee Trevino was disqualified from the PGA Championship in Duluth, GA when the ‘Super Mex’ had his scorecard signed by Tom Weiskopf instead of himself.
http://www.golfeurope.com/almanac/players/trevino.htm
1981-After a seven-week strike that cut the heart out of the regular baseball season, major league players approved a plan for a split season with the post-strike games to constitute the second half. The New York Yankees, Oakland Athletics, Philadelphia Phillies and Los Angeles Dodgers were declared first-half champions, automatically qualify for special divisional playoffs.
1981- Stevie Nicks' "Bella Donna" LP is released
1981---Top Hits
Jessie’s Girl - Rick Springfield
Theme from "Greatest American Hero" (Believe It or Not) - Joey Scarbury
I Don’t Need You - Kenny Rogers
Dixie on My Mind - Hank Williams, Jr.
1984- The Jacksons' "Victory" tour opened in Kansas City. The eight-story stage, designed by brother Michael, obscured the view from one-fourth of Arrowhead Stadium's 60,000 seats. Despite complaints about the $30 ticket prices, "Victory" proved to be the then-largest concert tour ever. The Jacksons played 55 dates in 23 cities, selling about 2.3 million tickets. Each brother raked in about $5 million . The promoter, Chuck Sullivan, lost $20 million because he agreed to pay all costs of the lavish production.
1984- The Cars release their video for "Drive." Actor Timothy Hutton directed it. 1984 - No. 1 Billboard Pop Hit: ``Ghostbusters,'' Ray Parker Jr. Huey Lewis sues Parker, saying the Academy Award-nominated song sounds too much like his ``I Want a New Drug.''
1986 - Timothy Dalton became the fourth actor to be named “Bond ... James Bond.” Dalton, 38, and his studio, United Artists, ended months of speculation as to who would star as Agent 007 in the 15th James Bond film. The character of Bond was created by writer Ian Fleming. Other stars to play the role of the suave, debonair and deadly double agent include: Roger Moore, Sean Connery and George Lazenby, with Pierce Brosnan as the James Bond for the 1990s.
1988 -Cub reliever Goose Gossage becomes the second player in major league history to record 300 career saves as he retires one batter in a 7-4 victory over the Phillies.
1988- Jose Canseco became the 11th player in major league history to hit 30 homers and steal 30 bases in a
season. The A's outfielder, with 31 homers, joins the 30-30 club stealing second base with one out in the ninth inning for his 30th as Oakland beat the Mariners, 5-4.
1988 - Severe thunderstorms produced large hail and damaging winds in Pennsylvania and New York State. A cold front crossing the northwestern U.S. produced wind gusts to 66 mph at Livingston MT.
1989 -Boston Red Sox retire Carl Yastrezemski's #8.
1989---Top Hits
Batdance - Prince
On Our Own - Bobby Brown
So Alive - Love & Rockets
Why’d You Come in Here Lookin’ like That - Dolly Parton
1994 --Laura Geller, the fourth woman rabbi in the United States, became the first woman SENIOR rabbi at a major metropolitan Jewish congregation, Temple Emanuel in Beverly Hills, California that has more than 1,000 members. She estimated that about 300 women serve as assistant or associate rabbis, even senior rabbis in smaller congregations in the U.S. There have been "issues of gender at every step of my career," Rabbi Gallerias," and some people, even within this congregation, still find it an issue." But, she adds, I'm grateful that I came to this position as a middle-aged woman... I'm fully clear that it’s their problem, not mine. When they say, 'I like you very much, but I'm just not comfortable with a woman rabbi,' they're telling me something about themselves, not about me." Sally J. Pries and, ordained in 1972, was the first woman rabbi in the United States, at the Monmouth County Reform Temple in New Jersey. Regina Jonas was the first woman rabbi in the world, ordained in 1935.
1996- Daniel Goldin, administrator of the National Aeronautics and Space Administration announced scientific evidence that there was life on Mars. The discovery was made by Dr. Roberta Score and a team of American scientists. Using electron microscopes, they examined a 4.5 billion year old Martian meteorite that struck Antarctica 13,000 years ago and found fossils of what appeared to be a “primitive form of microscopic life.”
1996- The soundtrack to the film "She's The One," starring Edward Burns and Jennifer Aniston, is released. The album is record by Tom Petty and the Heartbreakers and features the single, "Walls
1999 - "The Sixth Sense" opened with Bruce Willis starring as a child psychologist and Haley Joel Osment, who plays an 8-year-old who is visited by ghosts. As of July 24, 2001, it had rung up $293,501,675 at the box office.
I didn’t realize Willis was a ghost. When you see it a second time, it gives a different perspective to the movie.
2001- The Hall of Fame Veterans Committee comprised of five former players, five media members and five former executives, which was established in 1953, is to be replaced by a 90-member group made up of the members of the Hall of Fame (61), the recipients of the J.G. Taylor Spink award for writers (13), the Ford C. Frick award for broadcasters (13) and current Veterans Committee members (3). The new committee will be able elect players only once every two years and executives, umpires and managers only once every four years.
2002 -- Protecting the Giants' 11-10 lead over the Cubs, 32-year old reliever Robb Nen becomes the 16th and youngest closer to record the 300th save of his career.
2010-- In a 15-minute pre-game ceremony delayed by rain at Turner Field, the Braves retire Tom Glavine's uniform number 47. The southpaw, who won 244 of his 305 career victories with the organization, including five seasons with 20 or more wins, was inducted into the team's Hall of Fame earlier in the day at a luncheon.
-------------------------------------------------------------
SuDoku
The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?
http://leasingnews.org/Soduku/soduko-main.htm
--------------------------------------------------------------
Daily Puzzle
How to play:
http://www.setgame.com/set/puzzle_frame.htm
Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm
--------------------------------------------------------------
http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx
--------------------------------------------------------------
Weather
See USA map, click to specific area, no commercials
--------------------------------------------------------------
Traffic Live---
Real Time Traffic Information
 |
You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live
--------------------------------
