Funders Taking "New" Broker Business List
Four Do Not Require that Brokers Be Licensed

BSB Leasing, Inc.
Bankers Capital
C.H. Brown Company
Forum Financial Services
TimePayment Corp.

The following “funders” have informed Leasing News they will consider business from “new” third party originators.  Many companies require a
certain length of time in business and other requirements, such as a specific volume of business.  These “funders” will consider submissions from those new in the leasing and finance business: 

 

 

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New Hires/Promotions in the Leasing Business
and Related Industries

Lakshmipriya "Priya" Arunchalam was hired as Contract Administration Officer, Dext Capital, Lake Oswego, Oregon. She will be located in the Portland, Oregon Dext Capital Headquarters.  Previously, she was Sr. EFD Lease Account Specialist, EFD Managed Services, Bank of the West, "where she managed the contact administration duties for several large private label programs." (January, 2017 - July, 2019).  Senior QA Analyst, Infosys (May, 2005 - June, 2008).
https://www.linkedin.com/in/lakshmipriya-arunachalam-255a4a162/

Brian Albach was hired as Vice President, Business Development Officer, Triumph Business Capital, Coppell, Texas. He is located in the Greater Chicago area.  He returned to Bibby Financial Services, USA, August, 2016, as Vice President Business Development; promoted July, 2017, SVP, Midwest Sales Manager. Previously, he was Vice President, Business Development Officer, The Park National Bank (January, 2016 - July, 2017); SVP, Regional Sales Manager, Republic Business Credit, LLC (January, 2011 - January, 2016); Senior Vice President, Sales & Marketing, Bibby Financial Services (January, 2006 - January, 2011); VP Sales, United Financial of Illinois (January, 2000 - July, 2005); Sales, Comdisco (September, 1993 - September, 2000). Education: University of Illinois at Chicago. Bachelor of Science (B.S.), Marketing, Accounting (1992 - 1994).
Niles West High School. https://www.linkedin.com/in/brian-albach-968b613/

Lainie (Davis) Coeby was hired as Vice President, Business Development Officer, Dedicated Funding, Salt Lake City, Utah. She is located in Tryon, North Carolina.  Previously, she was Senior Account Executive, Patriot Leasing/Susquehanna Commercial Finance/BB&T Commercial Equipment Capital (March, 2004 - January, 2019); Senior Account Executive, Fidelity Leasing/CitiCapital (January, 1999 - March, 2004);  Realtor/Relocation Specialist, R.A. Weidel Realtors, Inc., (1997 - 1999); Owner/Manager, Fetts Restaurant (1992 - 1997).  Education: Arizona State University. Liberal Arts and Sciences/Liberal Studies. R.A. Weidel Real Estate School.  Temple University. Science. Mathematics. 3.98 GPA.  https://www.linkedin.com/in/lainie-davis-coeby-1aa40054/

 
Pat Mancuso was hired as Federal Financial Solutions Manager, Dell EMC, Washington, DC Area.  Previously, he was Public Sector Financial Manager, NetApp (August, 2012 - July, 2019); Sales Manager, Oracle Finance (February, 2008 - August, 2012); AVP, Sales Manager, Sun Trust Mortgage (August, 1206 - February, 2008); Regional Sales Manager, Network Access Solutions (1999-2002); Business Development, Proxicom (1996-1998). Education:  Middlebury College BA, Political Science (September, 1986 – May, 1990), Activities and Societies: Delta Upsilon Fraternity, Phillips Andover Academy (1985 –1986), Ridgewood High School (1982 – 1985). http://www.linkedin.com/in/pmancuso

Ken Martin was hired as Managing Director of the Small Business Solutions unit, CIT Group, which is part of its Business Capital division, Portsmouth, New Hampshire. "Martin joins CIT from Berkshire Bank (formerly Savings Institute Bank & Trust Company) where he was most recently a Regional president. Prior to that role he was the chief lending officer responsible for all commercial banking activities. Previously, Martin was the Managing Director of Business Banking at Santander Bank. Martin also served as the executive vice president and director of Commercial Enterprise Banking at RBS Citizens where he developed new business initiatives within Commercial Banking that involved creating the go-to-market strategy, advancing a high-performing sales culture, enhancing the client experience and delivering on business goals. Earlier in his career, Martin was the Northeast Commercial Banking Regional executive at Bank of America.”

Eric Miller was promoted to President, Asset Finance, CIT Bank, New York City, New York.  He joined the firm March, 2015, Managing Director & Group Head, Capital Equipment Finance; promoted February, 2019, Managing Director & Group Head, Capital Equipment Finance, Logistics, Finance and Franchise Finance.  Previously, he was at GE Capital, Corporate Finance, starting January, 2003, Vice President, Senior Account Executive; promoted February, 2005, Managing Director, Region Sales Leader. Prior, AVP, Account Executive, Wells Fargo (January, 2001 - February, 2003). Education: University at Albany, SUNY (1992 - 1996). https://www.linkedin.com/in/e-miller/

Jessica Nason was hired as Regional Sales Manager, Summit Funding Group.  Previously, she was Vice President of Sales, Centra Funding (July, 2018 - July, 2019); Senior Business Development Manager, Marlin Business Services Corp. (December, 2015 - May, 2018); Finance Manager, Direct Capital Corporation (May, 2004 - October, 2005); Principal Broker/Sales, SellMyTimeshareNOW, LLC (January, 2008 - June, 2010).  Education: Southern New Hampshire University, Bachelor's Degree, Accounting and Business/Management.  York County Community College.  Associate's Degree. Business Administration and Management. General (2011 - 2012). https://www.linkedin.com/in/jessica-nason-1b550a8a/

 
Regina Nirelli was promoted to Documentation Manager, Targeted Lease Capital, LLC, Williamsville, New York. She joined the firm November, 2017, as Documentation Specialist. Previously, she was Executive Assistant, Hamister Group, LLC (May, 2015 - November, 2017); Bookkeeper, Hawk Creek Wildlife Center (August, 2015 - October, 2016); Administrative Assistant to EVP & CFO, The Hamister Group (May, 2015 - July, 2014); Speech and Language Therapist, Cleveland Hill School District (October, 2013 - February, 2014); Speech Therapist, Children's Therapy Resources (July, 2011 - June, 2013); Speech and Language Therapist, Orleans Niagara BOCES  (November, 2011 - August, 2012); Speech and Language Therapist, Erie 2- Chautauqua-Cattaraugus BOCES (May, 2009 - June, 2012); Speech and Language Therapist, Williamsville Central Schools (September, 2010 - November, 2010); Speech and Language Therapist Amherst Central Schools (August, 2009 - July, 2010). Community Service: Volunteer: Parent Volunteer, Girl Scouts of Western New York.  Education: State University of New York College at Genesco. Bachelor of Science (B.S.), Communicative Disorders & Sciences. https://www.linkedin.com/in/regina-nirelli-b2b7735/

Diane Nudelman was hired as Contract Administrator Officer, Dext Capital, Portland, Oregon. "She has a strong finance documentation background as well as extensive experience working with and understanding small and medium size businesses." Previously, she was at the Michaels Companies, Inc., starting September, 2018, Cashier; promoted November, 2018, Customer Experience Manager. Prior, she was a Loan Officer Assistant, Skyline Home Loans NW, starting November, 2016; promoted January, 2017, Mortgage Loan Officer. Founder & CEO, Swag Connection (March, 2002 - January, 2015);] Senior Mortgage Broker, Mortgage Market, Inc. (May, 1997 - March, 2002); Registered Financial Consultant, Merrill Lynch (October, 1994 - April, 1997); Registered Client Service Associate, Charter Investment Group (June, 1987 - August, 1991);Branch Manager Assistant, Paine Webber (May, 1985 - June, 1987).   Volunteer Experience: Treasurer and Board Member, Portland Cable Access TV (July, 1999 - July, 2001)/ Treasurer and Board Member, Theodore Roosevelt Women’s Scholarship Association (May, 1997 - November, 2002).  Education: Portland State University, School of Business. Bachelor of Arts, Finance and Law (1981 - 1985).  Mt. Hood Community College. Associate, Business Management (1981 - 1983).
https://www.linkedin.com/mynetwork/invite-sent/dinudelman53/?isSendInvite=true

Chuck O'Connor was promoted to Senior Vice President, Presidio Technology Capital, Greater Atlanta Area. He joined the company March, 2018, Vice President, Sales Presidio Technology Capital.  Previously, he was Vice President, Sales Management, Huntington Technology Finance (f/k/a Macquarie Equipment Finance) (April, 2015 - March, 2018); Vice President, Macquarie Equipment Finance (2005 - March, 2015); Senior Vice President, Wachovia Leasing (August, 1999 - 2003); Vice President, CIT Equipment Finance (1992 - 1999). Education: Saint Bonaventure University, BBA, Finance (1983 - 1987). https://www.linkedin.com/in/chuck-o-connor-3713898/

Kevin Rice was hired as Vice President, Sales, Alliance Funding Group, Portsmouth, New Hampshire.  Previously, he was Client Service Manager, Direct Capital, a division of CIT Bank, N.A. (September, 2014 - July, 2019); Finance Manager, Honda BMW of Champaign (August, 2013 - August, 2014); Finance Manager, Direct Capital, a Division of CIT Bank, NA (2010 - August, 2013): Manager, Wolfeboro Dockside Grille (May, 2004 - October, 2009).  Education: University of New Hampshire, Whittemore School of Business and Economics. BS, Entrepreneurship, Management. Activities and Societies: UNH Shooting Sports (President/Captain), UNH Ski & Board Club. (2005 - 2009). Charlene Mason Seminars Unlimited. https://www.linkedin.com/in/kevin-rice-632a8720/

Taylor Sanborn was hired as Vice President, Sales and Vendor Development, Financial Partners Corporation, Portsmouth, New Hampshire. He previously was at Direct Capital, a Division of CIT Bank, N.A., starting June, 2015 as Business Development Representative; promoted November, 2015, Capital Coordinator; promoted March, 2017, Lending Solutions Manager. Prior, he was at Collegiate Entrepreneurs, Inc., starting December, 2012, Branch Manager; promoted September, 2013, Veteran Branch Manager. Education: University of New Hampshire, Bachelor of Business Administration (B.B.A), Marketing (2011 - 2015). Lebanon High School (2007 - 2011). Activities and Societies: Varsity Football (4 years), Varsity Baseball (2 years). Recreational Basketball (3 years.) https://www.linkedin.com/in/taylor-sanborn-a2930b99/

Nicholas Shotwell was promoted to Assistant Vice President, Logistics and Distribution Division, First American Equipment Finance, Rochester, New York.  He joined the firm January, 2017, as Credit Analyst; promoted October, 2018, Credit Officer. Previously, he was Commercial Credit Intern, M&T Bank (June, 2016 - August, 2016).  Education: University of Rochester, Simon Business School (2019 - 2021). St. John Fisher College, Corporate Finance (2013 - 2016). https://www.linkedin.com/in/nicholas-shotwell-3bb388107/

Travis Smith was hired as Vice President, Business Development, ENGS Commercial Capital, LLC, an ENGS Commercial Finance Company, Itasca, Illinois. He is located in Charlotte, North Carolina.  Previously, he was Vice President, Business Development, Commercial Finance Group (January, 2015 - August, 2019); District Sales Manager, Payscape Advisors (October, 2013 - December, 2014); Vice President of Business Development, Magnolia Financial, Inc. (2012 - October, 2013); Assistant Vice President/Super Originator/Business Development Officer, First Bank (FBNC) (June, 2010 - October,2012); Vice President/Financial Service Manager, First Citizens Bank (June, 2008 - June, 2010); Market Executive/ Banking Center Manager, RBC Centura Bank (January, 2002 - June, 2008); Financial Advisor, Merrill Lynch (July, 2000 - January, 2002); Branch Manager/ Loan Officer, BB&T (December, 1997 - July, 2000).  Education: East Carolina University. Bachelor's Degree, Economics. (1992 - 1997). https://www.linkedin.com/in/travis-m-smith-45982914/

Spencer Sundahl, CLFP, was promoted to Account Manager, OnDeck, Denver, Colorado.  He joined the company as Business Consultant, December, 2018; promoted February, 2019, Lending Advisor. Previously he was at BSB Leasing, Inc.,, starting December, 2014, National Account Manager; promoted AVP of Business Development, April,2017;Vice President of Leasing, Bank of the Ozarks (June, 2015 – November, 2015); Assistant Finance Manager, Compass Equipment Finance (December, 2013 – June, 2015); Junior Trader, Patak Trading Partners, LLC (June, 2013 – January, 2014). Education: Southern New Hampshire University, Master's Degree, Accounting & Finance (2013 – 2015). Purdue University, Bachelor's Degree, Economics & Statistics (2008 – 2011). Go Boilermakers! Activities and Societies: Member Alpha Sigma Phi Fraternity.
https://www.linkedin.com/in/spencer-sundahl-b4121b68

Dawn Welper was announced as Sales Associate, Dext Capital, Lake Oswego, Oregon. She joined the firm June, 2019. She is located in Cedar Rapids, Iowa Dext office. Previously, she was Sales Associate, Healthcare Division, TCF Equipment Finance (June, 2012 - May, 2019). Education: Ellsworth Community College. Associates in Applied Science Decree in Administrative Assistant with Business/Computer emphasis (2002 - 2004). https://www.linkedin.com/in/dawn-welper-b3a128170/

 

Help Wanted

 

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Full Story with Examples of other occupations by State
https://www.businessinsider.com/highest-paying-job-in-every-us-state-2019-2

 

 

 

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Madison Capital Offers Numerous
Resources You May Not Know We Offer

Madison Capital is always striving to make our business interactions a win-win. We offer several resources to benefit our customers.

1. Payment Calculator:  Need a rough estimate on monthly costs? With a few clicks on our payment calculator you can have one in seconds.

2. eDocs:  Enjoy the flexibility to counter-sign electronic loan documents quickly and securely from anywhere.

3. Customer Stories: Interested in new exposure for your business? Want to highlight your business news, products or updates? Send us your ideas; we frequently write stories about our customers. For more information, please visit: Customer Stories.

4. Online Payments: We offer the convenience to use your credit card to make a payment online through our Pay Now  feature on our website.

5. Complimentary Landing Page and Lease Quote Calculator for Vendors: We can create a custom landing page on our website featuring your company, as well as, provide a lease quote calculator to make quoting lease payments a breeze. 

6. Special Financing Terms for Heavy Equipment: For a limited time we are offering finance terms up to 72 months (for well qualified applicants) for all types of new and used heavy equipment typically used for construction. 

One of the reasons we have a reputation for delivering outstanding customer service is our willingness to listen to our customers. If you have a suggestion for how we could improve or an idea for a new tool or service that would be helpful, let us know. We appreciate your ongoing business.

Sincerely,
Nancy Pistorio
President, Madison Capital, LLC
800.733.5529
contactus@madisoncapital.com
www.madisoncapital.com

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California Payday Loan Industry Appears
to be Moving Toward Larger Consumer Installment Loans

California’s payday loan industry seems to be moving toward larger consumer installment loans over $300 and, in many cases, over $2,500, according to lender reports released today by the Department of Business Oversight (DBO).

The reports show the total number and aggregate dollar amount of payday loans continued a long decline in 2018 while non-bank, unsecured consumer loans issued under the California Financing Law (CFL) increased markedly. The payday loan report is here (PDF) and the CFL report is here (PDF).

“The numbers and other trends strongly suggest the payday loan industry is evolving, with lenders moving more into CFL territory,” said DBO Commissioner Manuel P. Alvarez. “On the one hand, it’s encouraging to see lenders adapt to their customers’ needs and expectations. But by the same token, it underscores the need to focus on the availability and regulation of small-dollar credit products between $300 and $2,500, and especially credit products over $2,500 where there are largely no current rate caps under the CFL. Consumers need a range of sensible credit choices and, in that regard, we all have different roles to play.”

California payday loans, also known as deferred deposit transactions, typically require customers to give lenders a personal check of up to $300, the maximum allowed. Borrowers receive the check amount minus an agreed-upon fee that cannot exceed 15 percent, or $45 from a $300 check. The lender defers depositing the check for a specified period not to exceed 31 days.

Payday lenders charged an average annual interest rate of 376 percent, and continued to rely on repeat and low-income customers who took out most of the 10.2 million loans totaling more than $2.8 billion last year, the 2018 report found. Still, these were the lowest levels reported for both categories in 13 years, since $2.55 billion and 10 million transactions in 2006, according to historical data on the DBO website. The 1.62 million customers also represent a nine-year low dating back to 2009 when the industry reported 1.57 million customers.

This multi-year decline has left the industry with the fewest licensed payday locations in California since the former Department of Corporations, which merged into the DBO, began regulating payday lenders in 2005. According to the 2018 payday report, the number of licensed locations has dropped 34 percent to 1,645 from a high of 2,493 in 2006.

In contrast, the 2018 report for lenders licensed under the CFL shows that, in the largest category of unsecured consumer loans (i.e., those under $2,500), the total number of loans increased 13.1 percent and the aggregate dollar amount loaned increased 19.4 percent. The number of unsecured consumer loans between $2,500 and $4,999 increased 11.4 percent with an aggregate dollar increase of 11.2 percent. In the $5,000-to-$9,999 range, the number of unsecured consumer loans increased 26.2 percent with a 30.5 percent increase in aggregate dollar amount.

State law limits interest rates that can be charged on installment loans of less than $2,500. But there are generally no rate caps under the CFL for loans above $2,500, with a notable exception for loans issued under the Pilot Program for Responsible Small Dollar Loans. More than 55 percent of the CFL consumer loans between $2,500 and $4,999 bore interest rates of 100 percent or more, the 2018 report found.

Among other significant data points, the payday loan report also showed that in 2018:

• Repeat customers accounted for 80.7 percent or nearly $2.3 billion of the total amount borrowed and 75.8 percent or almost 7.8 million of the 10.2 million loans.
• Of subsequent payday loans to the same borrower, 59.2 percent were made the same day the previous loan ended. Another 17.9 percent were made one to seven days after the previous loan.
• Repeat customers who took out seven or more loans paid 70.7 percent or $297.3 million of $420.5 million in fees the industry collected on payday loans.
• One of every four customers took out 10 or more payday loans. This group of 411,067 customers exceeded the 373,201 who took out just one loan. The average number of loans per customer decreased to 6.31 from 6.36 in 2017.
• Half of all payday loan customers had average annual incomes of $30,000 or less and nearly a third had average annual incomes of $20,000 or less.
• The number of payday loan customers referred by lead generators more than doubled, increasing 153 percent to 272,753 from 107,691 in 2017. As such, the number of payday loan customers referred by lead generators grew from 6 percent in 2017 to 17 percent.

Other notable data points in the CFL report showed that in 2018:

• A $4 billion drop in real estate loans pushed total installment consumer lending by non-banks down nearly 8.8 percent to $33.9 billion.
• The number of consumer loans made online increased 3.1 percent, to nearly 393,000. The total principal of those loans increased at a faster rate, by 8.9 percent to $4.96 billion. Loans of $2,500 or higher – those that do not have capped interest rates – accounted for almost 62 percent of the total number and 54.4 of the total principal of consumer loans made online.

The DBO licenses and regulates more than 360,000 individuals and entities that provide financial services in California. The department’s regulatory jurisdiction extends over state-chartered banks and credit unions, money transmitters, securities broker-dealers, investment advisers, non-bank installment lenders, payday lenders, mortgage lenders and servicers, escrow companies, franchisors and more.

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Home Office Deduction Benefits
Qualifications from IRS

Taxpayers who use their home for business may be eligible to claim a home office deduction. It allows qualifying taxpayers to deduct certain home expenses on their tax return. This can reduce the amount of the taxpayer’s taxable income.

Here are some things to help taxpayers understand the home office deduction and whether they can claim it:

• The home office deduction is available to both homeowners and renters.
• There are certain expenses taxpayers can deduct. They include mortgage interest, insurance, utilities, repairs, maintenance, depreciation and rent.
• Taxpayers must meet specific requirements to claim home expenses as a deduction. Even then, the deductible amount of these types of expenses may be limited.
• The term "home" for purposes of this deduction:
• Includes a house, apartment, condominium, mobile home, boat or similar property.
• Also includes structures on the property. These are places like an unattached garage, studio, barn or greenhouse.
• Doesn’t include any part of the taxpayer’s property used exclusively as a hotel, motel, inn or similar business.
• There are two basic requirements for the taxpayer’s home to qualify as a deduction:
  
  There must be exclusive use of a portion of the home for conducting business on a regularly basis. For example, a taxpayer who uses an extra room to run their business can take a home office deduction only for that extra room so long as it is used both regularly and exclusively in the business.
• The home must be the taxpayer’s principal place of business. A taxpayer can also meet this requirement if administrative or management activities are conducted at the home and there is no other location to perform these duties. Therefore, someone who conducts business outside of their home, but also uses their home to conduct business may still qualify for a home office deduction.
• Expenses that relate to a separate structure not attached to the home will qualify for a home office deduction. It will qualify only if the structure is used exclusively and regularly for business.
• Taxpayers who qualify may choose one of two methods to calculate their home office expense deduction: 
• The simplified option has a rate of $5 a square foot for business use of the home. The maximum size for this option is 300 square feet. The maximum deduction under this method is $1,500.
• When using the regular method, deductions for a home office are based on the percentage of the home devoted to business use. Taxpayers who use a whole room or part of a room for conducting their business need to figure out the percentage of the home used for business activities to deduct indirect expenses.  Direct expenses are deducted in full.

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Fernando's View
By Fernando F. Croce

A harrowing Western (“The Nightingale”) and an absorbing documentary (“Toni Morrison: The Pieces I Am In”), while DVD releases offer kinetic action (“Alita: Battle Angel”), trenchant drama (“Transit”), and a confrontational modern classic (“Do the Right Thing”).

In theaters:

The Nightingale (IFC Films): Director Jennifer Kent follows her acclaimed debut “The Babadook” with this similarly harrowing Western, set in colonial Australia in the early 1800s. In the hellish depths of a Tasmanian penal jungle, a young Irish maid named Clare (Aisling Franciosi) swears revenge on the sadistic commander (Sam Clafflin) who slaughtered her family. With the help of a sly aboriginal tracker named Billy (Baykali Ganambarr), she ventures deeper and deeper into a human darkness that turns out to be even more disturbing than the supernatural horror of the director’s previous film. Can Claire’s remaining shreds of humanity survive this pitiless descent? Combining blunt-force violence with an inquiry on the bond between oppressed groups, Kent’s tale of survival and cruelty is tough to watch, and even harder to shake off.

Toni Morrison: The Pieces I Am In (Magnolia Pictures): The great lioness of African-American literature, acclaimed novelist Toni Morrison takes center stage in Timothy Greenfield-Sanders’ candid, absorbing documentary. Before she was an award-winning writer and fiery activist, Morrison was a little girl practicing her words on a sidewalk during the nation’s segregated years. Her rise is illustrated with archival footage as well as interviews with such luminaries as Oprah Winfrey, Angela Davis and Russell Banks. Mostly, and wisely, the film lets the formidable and witty Morrison herself explains the prejudices she had to conquer and the issues she addressed in her works, which include “Beloved,” “The Bluest Eye,” and “Song of Solomon.” The results are informative, compelling, and richly attuned to the author’s fierce brand of storytelling.

Nextflix: A pioneering voice in the documentary wave of the 1960s, D.A. Pennebaker (1925-2019) provided invaluable time capsules for turbulent times and perceptive snapshots of artists. So check out Netflix for his best films, which include “Don’t Look Back” (1967), “Monterey Pop” (1968), “Town Bloody Hall” (1978), and “The War Room” (1993).

On DVD:

Alita: Battle Angel (Twentieth-Century Fox): Robert Rodriguez (“Sin City”) directs this visually dynamic live-action version of a popular Japanese, from a screenplay by the “Terminator” mastermind himself, James Cameron. Set in the distant future, it centers on Alita (Rosa Salazar), a cyborg who’s found in a junk heap and fixed by Dr. Ido (Christoph Waltz). Suffering from memory loss, she struggles to piece together her past identity while commuting between earthbound Iron City and the hovering metropolis of Zalem. A wondrous mix of human and robotic parts, the heroine is perpetually on the run from a slew of characters interested in using her technology for nefarious use—most notably Vector (Mahershala Ali), who has eyes on a brutal sport. Fleet and eye-popping, this is an engaging action fantasy.

Transit (Music Box Films): Talented German filmmaker Christian Petzold (“Phoenix”) serves up a trenchant tale of desperation, set in 1940 yet told in anachronistically modern fashion. Georg (Franz Rogowski) is a young Jewish technician who, fleeing a concentration camp, finds himself stuck in Nazi-occupied France. Assuming a dead man’s identity, he struggles to blend in with the other refugees while waiting for his chance to sail away to North America. His plans change, however, when he meets and falls in love with Marie (Paula Beer), an enigmatic woman who’s determined to locate her missing husband. Their would-be romance is quickly steered toward darker territory, leading to a harrowing dilemma. Made with impassioned rigor, Petzold’s film skillfully pulls the viewer into its daring combination of old and new. With subtitles.

Do the Right Thing (Criterion): Spike Lee scored his most confrontational hit with this incendiary, brilliantly stylized comedy-drama, which unfolds over the course of one very hot day in a Brooklyn neighborhood. Lee also plays Mookie, a young local who works at the Italian pizzeria run by Sal (Danny Aiello). Among the other personalities are a soused sage known as Da Mayor (Ossie Davis), tough-guy, boombox-toting Radio Raheem (Bill Nunn), and combative Buggin’ Out (Giancarlo Esposito). Already brimming with tensions, the place is set to a boil after an argument between Sal and Buggin’ Out threatens to turn the neighborhood into a virtual war zone. Boldly exploring racial anxieties and inherent violence, Lee’s angry and vibrant film explodes with passion, humor and visual impact. The cast also includes John Turturro, Ruby Dee, and Samuel L. Jackson.

Great Pyrenees
Cedar Rapid, Iowa  Adopt-a-Dog

Opie

Male
Large
Grey/Blue/Silver/White/Cream

About
CHARACTERISTICS
Sweet, Loving, Playful
COAT LENGTH
Long
HOUSE-TRAINED
Yes
HEALTH
Vaccinations up to date, spayed / neutered.

Meet Opie

Hi, Opie here. People keep telling me I'm beautiful. I prefer to be called handsome but I'll take the compliments just the same. I was very scared when I first came to Dogs Forever. My sister and I didn't have the best start to our dog lives. Since I've been in residence, I've learned that people are really nice. I am a gentle giant and sometimes even try to crawl into the lap of the person giving me love and I definitely give them kisses. I'm learning about toys and how to play.

I love to play with my sister so if you have another fur baby in your home that will help me continue to thrive and show me the ropes that would be great. I can't wait to find my forever home. Is my new home with you?

Dogs Forever of Iowa
Location Address
809 Rockford Road SW
Cedar Rapids, IA 52404
info@dogsforever.org

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Russ Richards Buys a Deal
By Christopher Menkin

(This appeared January 11, 2008 in Leasing News as the first of a series of short stories. It introduces Larry Faber, Frank Sanchez, and San Francisco Valley Leasing. This opening story explains who the two were starting a leasing company in the early 1970s in what eventually became known as “Silicon Valley.”)

(This is fiction; all names, places, circumstances are fictional.)

Larry Faber and Frank Sanchez were “The Odd Couple.” They had formed a leasing partnership quite by accident in the early 1970’s with very little in common, didn’t socialize after work, but were quite close, nevertheless.

Perhaps their only disagreement was about football. Larry had graduated Cal Berkeley, went to all the Cal games, basketball, football, you name it, and attended “Cal Camp” with his fraternity every summer. Frank graduated Stanford University summa cum laude.

Frank was in his early fifties, very tall, six- three,  maybe six -four, thin, athletic, with black and white hair to the sides of his forehead, very Spanish, along with a very neat pepper mustache. He was quite handsome. He also had perfect posture as he was an ex-Marine. In fact, he was a Lt. Colonel when he left. He had volunteered to fight in Viet Nam, did six years, the full two tours, and was offered to become a full Colonel if he re-enlisted. They made him a Lt. Colonel when he left, hoping he would join the reserves. He didn’t. He wanted to go back to Stanford and get a business degree, he told them. They offered to pay for it, but Frank was quite wealthy and didn’t need the money. The truth was he was disillusioned with the Viet Nam war, had too many friends die, and thought they were in a “no win” situation. He did get his master’s degree in business from Stanford University.

He kept his good physical shape by playing tennis, and even worked out at a gym from time to time. He also ran an hour or more six days a week, and two hours or more on Sunday so he didn’t have to go to mass, his wife said. He ran longer times a few weeks before he entered a marathon, which rarely was in California, but all over the world. He usually won in his age group, too.

A distant relative of his was one of the earliest Spanish settlers in California and at one time owned all the land south of San Francisco to Salinas. Through the generations, the land and wealth was divided. Frank owned property in East Palo Alto, Palo Alto, and mostly in Mountain View, the city below the two. Most of it was “shoreline.” Some of it was inherited, but much was from his buying the property. He liked owning land. He said it was good for his heritage, and so should be good for him.

Frank owned a building in Mountain View on the other side of Highway 101, several other mostly older buildings, and land with farmers still working the dirt. He also owned property in both Palo Alto and East Palo Alto. He spent most of the day as a “landlord,” and that is how he and Larry started San Francisco Valley Leasing.

A fax and copier company went bankrupt and left many of their machines in Frank’s mini-warehouse in East Palo Alto. They were mostly thermal machines, meaning they required thermograph paper. The industry was changing to paper copiers and some paper fax machines. The change caught the company with too much inventory. Going through his mini-warehouse repossession procedure, something he did too often, he would say, he wound up with all the equipment.

He kept one of the service repairman as an independent contractor and found he could not sell the machines, but he could rent them, and better yet, lease them. In the course of doing this, emerging
companies would ask he would finance other equipment. He did leasing out of his own cash, then his lines of credit at Bank of America, tied to his mortgages, but didn’t like the position of using up both his cash and lines; he thought real estate was a better investment than equipment, even though the returns were excellent and, in several instances he took stock warrants as additional collateral.

Larry Farber was one of his tenants, on the second floor. He also was athletic, but not like Frank who liked to run every day and play tennis. Larry loved golf and softball. He had a winning softball team in the league, mostly San Jose and other local police. He was the captain and catcher, although his knees were giving out at the age of 38, he complained.

Larry was average height, not overweight, but not thin, and he looked very Jewish. It wasn’t the nose, as it was average, but it was his smile, his jokes, his funny way of looking at life, and while Frank didn’t care about politics at all, Larry was a very active liberal Democrat. He would claim “all smart Jews were liberal Democrats.” He went to temple Friday night, Saturday morning and Saturday night, plus took all Jewish holidays off and really observed them. He was married to a woman whose parents were from Iran (“Persia,” they called it) and his wife converted to Judaism from Catholicism to marry him. She often worked in the office, too.

Larry built computer systems for dentists using Digital computers and color monitors, something quite new in its day. The systems sold for between $60,000 to $80,000 and almost all of them were leased.

Frank had this habit at 5pm, when his employees left, he would have a brandy on ice, or Scotch on ice, and sneak a cigarette. They weren’t filtered, but Camel’s. He often had more than one. He preferred to visit Larry in his office as he was afraid his wife would give him a surprise visit and find him smoking, he said. He had told her he quit. He didn’t.

Larry didn’t like the cigarette smoke, and often had more work to do, but Frank would engage him in a conversation and before he knew it, it was 6pm or later. In one of the many conversations, Larry complained about getting the leases together for the dentists.

Their original idea was to form a partnership, each put in 50-50 for monthly expenses, and then cut the profits at the end of each year or whenever. The concept was like going on a trip with another couple and pooling the cash together, paying for things out of the cash kitty.

Bank of America didn’t want them to get another line of credit unless they kept the bank exclusive, meaning no other bank lines, so Frank went out and got two recourse lines and a non-recourse line at three separate local banks, Crocker National Bank, San Jose National Bank, and Wells Fargo Bank. Later he added Union Bank for large leases. He kept BofA for his real estate loans, but not the new leasing company called San Francisco Valley Leasing. He got the best deals at BofA for real estate as he kept telling them he had better rates for his real estate elsewhere. He most likely did, and they knew it. His family had been with BofA since it first started in San Jose (actually Alviso) at the turn of the century.

As the business grew, they found independent leasing companies willing to accept their lease contracts on a “discount basis.” They decided a “non-recourse” lease would pay the originator five percent up front and not require the two together to approve the lease as they were doing with “recourse” leases. Frank also could do “side deals” where he was taking warrants, too. They would split the profits of the leasing company, including residuals, if any.

Frank found himself spending more time selling leases, while Larry continued in the computer business, plus his job was to run the leasing operations, which originally was his wife, but had grown to three full time employees. He was even talking about hiring a general manager.

Frank liked speaking to presidents of companies, giving them advice, when they asked, and he was always welcomed into a company, getting many referrals as he could read financial statements,
had similar problems in running his property management company, and really enjoyed the tour and learning about the various companies he visited. He wasn’t being a phony, he really like to learn and felt he was helping the company to grow.

By the way, he never gave anything away. He charged what he thought was fair, and if competition came along with a lower price, he never met it. Often his repeat customers would tell him, “I have this price from the vendor’s leasing company, if you can meet it, the deal is yours.” Then he might, but he found out many of the vendor’s leasing companies had a higher price than he was charging. He thought that funny. Sometimes he would “meet it,” and other times, give a lower payment. There also were times he could not meet the quote, but the lessee went with him anyway. Frank was that kind of guy. You really respected him as a business person and someone you would like as a friend, too.

It was unusual for Larry to come to Frank’s office on the first floor. While they were not the “odd couple,” Larry’s office was a real mess, with computer parts, half computer shells, boxes, piles of paper on the floor, baseball trophies, and you couldn’t see the top of his desk. Even the chairs had boxes of computers parts on them. You had to move them to the floor to sit down.

Frank had a blue-black leather sofa and chair in his office with a glass coffee table in front. He did have piles of paper all around, but like many accountant or attorneys’ offices, the piles were neatly stacked, seemingly organized. His office had on its walls expensive early maps of the San Francisco peninsula and Santa Clara Valley on the wall, three-matted, very well framed, and you would have been more impressive at the museum quality if not for all the clutter, even though in neat piles.

The sofa and matching chair were empty and the coffee table clean, but papers were neatly all around in stacks. Larry moved among them, and then settled into the couch, actually plopped down upon it.

“I’ve got this problem with this deal,” Larry said. “I need a low rate and there is over 20% software.”

“Try Central Valley Bank Leasing,” Frank responded.

“I can’t, they only accept 10% software in a lease.”

“Tell me about the transaction.”

“Frank, this is a great company, “Larry explained, leaning forward.
“This dentist has four offices, and is expanding. He has a partner who is new and wants to open two more offices right now.”

“So it’s a new company?”

“Not exactly.”

“So what’s the problem, Larry?”

“It’s the rate, the amount of software, and they are not making much profit”

“Meaning they can’t make new lease payments?”

“Sure they can, even with the new office expenses. The practice has a good net worth. ...If I can put this together, I’ll get all the new offices they open. Look, I have their personal financial statements and tax returns. This is a good deal.”

“Then what’s the problem?”

“I need a good rate and to overcome the software.”

Larry handed Frank the file. It was fat with credit, financial statements, and tax returns. Frank opened it, spread out on his desk (you could see his desk as you could see the top of the glass coffee table; all his papers were in neat piles on the floor surrounding him.)

“Okay, I see they are making good money. Did you look at the personal financial statements to see what their wives were making?”

“I only have the principal’s guarantee.”

“What did D&B tell you?”

“Didn’t run one, “Larry explained. “This is a dental practice.”

“I see they are not taking a salary on the corporate tax return, but are the wives officers of the corporation.”

“Frank, I didn’t ask for the wives to guarantee.”

“First, see if the wives are officers. Run a corporation verification and learn who the officers are. On the personal tax return, you have here one woman who makes over $175,000 a year, and another who is an attorney in her own law practice, making more than that. The key to putting this deal together is the wives’ guarantee.”

“But I didn’t ask for a wife’s guarantee.”

“First, run the Department of Corporations and see if they are corporate officers.”

Larry came back a few hours later with a thermal fax.

“Both wives are officers, “Larry said. “ In fact, one is the corporate secretary.”

“You’ve got it!!!”

“What do you mean? How do I get the rate and the 20% software?”

“Send it to Russ Richards at Central Valley Bank Leasing, “Frank answered. “He’ll do it.”

“First, how do I know I can get the personal guarantees from the dentist’s wives?”

“Get the approval first, “Frank answered. “ You can sell it, as it is the truth. They are officers of the corporation. And even if they don’t sign, Russ Richards knows California is a community property state. I am telling you--- he will do the deal.”

“But what about the software being over 10%.”

“If Russ likes the deal, he’ll waive the 10% requirement. You got two dentists with a proven history, very good credit, decent net worth, very little consumer debt, up-ward trends, a good reason to lease, and two wives with outside income that are pretty strong. I guarantee Russ will approve this lease with 20% software.”

Russ Richards approved the deal with 20% software and without the wife’s guarantee as a requirement.

Ironically, Larry got both wives to guaranty the lease because he told them they had to sign as they were officers of the corporation.

News Briefs----

Zelle Outpacing PayPal’s Venmo
  in Person-to-Person Payments
https://thefinancialbrand.com/86371/zelle-venmo-paypal-person-to-person-payments-p2p-mobile-banking/

Apple Card: 10 key takeaways   
  American Banker
https://www.americanbanker.com/list/apple-card-10-key-takeaways

The salary you need to earn to buy a home right now
     in the 25 biggest US cities
https://www.businessinsider.com/income-qualify-mortgage-buy-house-us-cities-2018-11?utm_source=hearst&utm_medium=referral&utm_content=allverticals#/#22-houston-texas-4

Uber reports loss of $5.2 billion in the wake of going public
  more than $878 million it lost in the same quarter a year ago
https://www.sfgate.com/business/article/Uber-reports-loss-of-5-2-billion-in-the-wake-of-14291105.php

‘Weaponized’ Currency and Mining Limits:
   China’s Responses to Trump Take Shape
https://www.nytimes.com/2019/08/08/business/china-currency-trade-rare-earths.html

America’s Top 50 Emerging Restaurant Chains
  FSR Magazine Food Newsfeed
https://www.foodnewsfeed.com/fsr/chain-restaurants/fsr-50-america-s-top-50-emerging-restaurant-chains

The Top 50 Food Industry Brands
https://www.qsrmagazine.com/reports/2019-qsr-50

 

 

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

You May Have Missed---

Here’s how many business owners claimed
   this new 20% small-business tax break
https://www.cnbc.com/2019/08/07/heres-how-many-people-claimed-this-new-20percent-small-business-tax-break.html

 

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

For Junior Gilliam (1928-1978)
by B.H. Fairchild ©
Published: The Little Magazine (1978)

In the bleak, bleacherless corner
of my rightfield American youth,
I killed time with bubble gum
and baseball cards and read the stats
and saw a sign: your birthday was mine.

And so I dreamed: to rise far
from Kansas skies and fenceless outfields
where flies vanished in the summer sun.
To wake up black in Brooklyn,
to be a Bum and have folks call me Junior
and almost errorless hit .280 every year
and on the field, like you, dance double plays,
make flawless moves, amaze the baseball masses.

You would turn, take the toss from Reese,
lean back and, leaping past the runner's cleats,
wing the ball along a line reeled out
from home and suddenly drawn taut
with a soft pop in Hodges' crablike glove.
And we went wild in Kansas living rooms.

The inning's over. You're in the shadows now.
But summers past you taught us how to play
the pivot (or how to dream of it).
And when one day they put me in at second,
I dropped four easy ones behind your ghost,
who plays a perfect game.

For Junior Gilliam (1928-1978) by B.H. Fairchild ©

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

Sports Briefs---

Oracle Arena’s sign is coming down
   now that Warriors have left Oakland
https://www.eastbaytimes.com/2019/08/08/oracle-arenas-sign-is-coming-down-now-that-warriors-have-left-oakland/

Antonio Brown’s feet are holding Raiders back
https://www.pressdemocrat.com/sports/9879499-181/barber-antonio-browns-feet-are

Cowboys lose key defender to suspension for sixth consecutive season
https://www.yahoo.com/sports/cowboys-lose-key-defender-suspension-212539554.html

‘Letters to 87’: Celebrating Dwight Clark,
   49ers fans become part of the story
https://datebook.sfchronicle.com/books/letters-to-87-celebrating-dwight-clark-49ers-fans-become-part-of-the-story

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

California Nuts Briefs---

SFO near-miss: Capt. Sully pushes bill,
    ‘biggest threats are runway related’
https://www.sfchronicle.com/bayarea/article/SFO-near-miss-New-legislation-announced-to-14290807.php

San Rafael’s mayor fed up with gun violence,
  orders flags at half-staff until Congress acts
https://www.sfchronicle.com/bayarea/article/San-Rafael-s-mayor-fed-up-with-gun-violence-14290694.php

Oysters in peril as warming climate alters the water in their habitats
https://www.sfchronicle.com/environment/article/Oysters-in-peril-as-warming-climate-alters-the-14288818.php

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

“Gimme that Wine”

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

California Vintners Gear Up for 2019 Harvest
https://mailchi.mp/wineinstitute/california-vintners-gear-up-for-2019-harvest-694005?e=33b247bfac

Aug. 7, 2019 Fifteen Wine Importers from the United Kingdom
   and Ireland to Visit California on First-Ever Buying Trip
https://www.winebusiness.com/content/file/wine-institute-release-8-7-19.pdf

 

Free Wine App
https://www.nataliemaclean.com/mobileapp/

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/

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

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

This Day in History

       1610 - The First of three Anglo-Powhatan Wars started.  The Jamestown settlement was within the territory of the powerful chief known to the English as Chief Powhatan.  The Jamestown location was less than successful, because the conditions of this swampy area were far less than desirable, including polluted water, insects that carried disease, and soon, the lack of food supply. Jamestown, and the other colonies to be established in the "New World" were dependent on natives for a successful settlement.  Capt. John Smith, a colonial leader, imagined that someday the natives would be doing all the work for the English, but Powhatan wanted Smith and the colonists to forsake the swamp and instead live in one of his satellite towns where they would make metal tools for him in exchange for full provision.   Relations between the two peoples began deteriorating again in late 1608, when the starving colonists began to strong-arm some supplies of corn from the natives, all suffering from a poor harvest.  Tired of waiting for a response from Powhatan, 70 men attacked, burning the houses and cutting down their cornfields. They killed 65 to 75, and captured one of the chief’s wives and her children. Returning downstream, the English threw the children overboard, and shot out "their Braynes in the water." The queen was put to the sword in Jamestown. The Paspahegh band never recovered from this attack, and abandoned their town.
    1639 - Jonas Bronck of Holland became the first European settler in the area now known as The Bronx and built a farm named "Emmaus" close to what today is the corner of Willis Avenue and 132nd Street in Mott Haven.  Bronck landed in New Amsterdam in 1638 and then sailed north.  The Bronx was called “Rananchqua” by the native Siwanoy band of Lenape (also known historically as the Delawares), while other Native Americans knew it as “Keskeskeck.”  He leased land from the Dutch West India Company on the neck of the mainland immediately north of the Dutch settlement in Haarlem (on Manhattan Island), and bought additional tracts from the local tribes. He eventually accumulated 500 acres between the Harlem and Aquahung Rivers, the latter becoming known as Bronck's River. Dutch and English settlers referred to the area as Bronck's Land.  
    1645 - Settlers in New Amsterdam gained peace with the Indians after conducting talks with the Mohawks.
    1673 - The Surrender of New York was demanded by a Dutch force of 23 ships and 1600 men anchored near Sandy Hook. They held possession of the colony until February 9, 1674, when the English regained control.
    1790 – Robert Gray's “Columbia Rediviva” returned to Boston Harbor after a three-year voyage. It was the first ship to carry the American flag around the world.
    1814 - General Andrew Jackson signed the Treaty of Fort Jackson, ending the Creek War. The US received 23 million acres. This vast territory encompassed more than half of present-day Alabama and part of southern Georgia.
    1842 - Before the US declared its independence, the annexation of Canada appeared to be one of the goals of the colonials at the time. The Webster-Ashburton Treaty signed this day was to end this “conflict.” The treaty delimiting the eastern section of the Canadian-American border was negotiated by the US Secretary of State, Daniel Webster, and Alexander Barin, president of the British Board of Trade. The treaty established the boundaries between the St. Croix and Connecticut rivers, between Lake Superior and the Lake of the Woods, and between Lakes Huron and Superior. The treaty was signed at Washington, DC.
    1854 - Henry David Thoreau publishes "Walden," an American classic and is his most famous work. There is controversy regarding his “lifestyle: about living in “nature,” but there is no debate he wrote a series of 18 essays, alleged on his two years spent close to nature. The book stresses simplicity and holds that happiness is not be had by pursuit of wealth. Descriptions of plants, bird, and animals are interspersed with reflections on life
http://memory.loc.gov/ammem/today/aug09.html
    1862 - In the Battle of Cedar Mountain, VA., near the Rappahannock River northwest of Richmond, Confederate troops under Gen. Stonewall Jackson, planning a move northward in advance of Gen. Lee's larger forces, defeated two full brigades of Union forces led by Gen. John Pope and Gen. N.P. Banks. Badly outnumbered, the Union Army suffered 2381 killed or wounded, the Confederates, 1276. Jackson was to continue his victories, seizing the Union arsenal at Harpers Ferry on September 15, and throughout the rest of the year, the Union took many loses, including the Battle of Fredericksburg on December 13 where 12,653 Union soldiers were killed or wounded to the Confederate casualties of 5300.
http://www2.cr.nps.gov/abpp/battles/va022.htm 
http://home.adelphia.net/~73rdovi/cedarmountain.html 
http://www.aphillcsa.com/index/print/CM.html 
http://www.americancivilwar.com/cwstats.html
    1877 - Having refused government demands that they move to a reservation, a small band of Nez Perce Indians clash with the U.S. Army near the Big Hole River in Montana. The conflict between the U.S. government and the Nez Perce was one of the most tragic of the many Indian wars of the 19th century. Beginning with the tribe's first contact with the explorers Meriwether Lewis and William Clark, the peaceful Nez Perce had befriended and cooperated with the Americans. Even when hordes of white settlers began to flood into their homelands along the Snake River (around the present-day intersection of the Oregon, Washington, and Idaho state borders), most of the Nez Perce peacefully moved to a reservation. However, about a quarter of the Nez Perce, most of them stockmen and buffalo hunters, refused to accept internment on a reservation. Government pressure to force these last resisters to comply finally led to the outbreak of the Nez Perce War of 1877. A small band of warriors, never more than 145 men, though burdened with about 500 noncombatants, fought U.S. soldiers at four major battles. The third battle of the Nez Perce War occurred on this day. Fleeing eastward with hopes of escaping to Canada, the Nez Perce made camp in the Big Hole Basin in present-day western Montana. At 3:30 a.m., Colonel John Gibbon attacked the sleeping Indians with a force of 183 men. Raking the Indian lodges with withering rifle fire, the soldiers initially seemed to be victorious. The Nez Perce, however, soon counterattacked from concealed positions in the surrounding hills. After four days of sporadic fighting, the Nez Perce withdrew. Both sides suffered serious casualties. The soldiers lost 29 men with 40 wounded. The army body count found 89 Nez Perce dead, mostly women and children. The battle dealt the Nez Perce a grave, though not fatal, blow. The remaining Indians were able to escape, and they headed northeast towards Canada. Two months later, on October 5, Colonel Nelson Miles decisively defeated the Nez Perce at the Battle of the Bear Paw Mountains. Those who were not killed surrendered and reluctantly agreed to return to the reservation. The Nez Perce were only 40 miles short of the Canadian border.
    1878 - The second most deadly tornado in New England history struck Wallingford, CT, killing 34 persons, injuring 100 others, and completely destroying thirty homes. The tornado started as a waterspout over a dam on the Quinnipiac River. It was 400 to 600 feet wide, and had a short path length of two miles.
    1882 - The long-simmering tension, dating to the end of the Civil War, between the two Appalachian families who lived by Tug Fork on the Kentucky-West Virginia border erupted into full-scale violence on Election Day, 1882. Brothers Tolbert, Pharmer and Randolph McCoy knifed and shot Ellison Hatfield. The Hatfield family captured the three McCoys. When Ellison Hatfield died on August 9, the Hatfields executed the brothers. The feud continued with much loss of life. In 1888, when Kentucky authorities sought to detain feud murder suspects and West Virginia authorities complained, the dispute went all the way to the US Supreme Court, who decided in Kentucky's favor. The feud sputtered out by the end of the century. It was estimated over 100 family members died.
    1892 - Thomas Alva Edison of Newark, NJ, filed a patent on the most practical two-way telegraph. It enabled two telegraph operators to send over one were simultaneously. Edison received many patents for many inventions and his biography is fascinating to read. 
     1916 - The first Japanese beetle appeared in Riverton, NJ. Its grubs were believed to have arrived in the roots of imported nursery stock.
    1925 – The only time a pinch-hitter was sent to bat for Babe Ruth, Bobby Veach flied out.
    1928 – NBA Hall of Famer Bob Cousy was born in NYC.  After an All-American career at Holy Cross, he was the point guard with the Boston Celtics from 1950 to 1963 and briefly with the Cincinnati Royals in the 1969–70 season. He led the league an unprecedented 8 straight years in assists, playing on six NBA championship teams, and 13 NBA All-Star Games in his 13 full NBA seasons. 
    1929 - It was hardly a tell-tale sign of trouble but Wall Street got an inkling of the upcoming crash as the New York Bank raised the rediscount rate on loans to brokers a full point to 6 percent. The hike was precipitated by the unsettling news that brokers had racked up a record $6 million debt, the fourth time during August, 1929 that their loans had swelled to record levels. Still, bankers assured the business community that the move, which was the biggest raise to the rate since the close of World War I, wasn't cause for alarm. Soothing words aside, reports from the day note that the new rate did indeed catch Wall Street by surprise. The following day the DOW dropped 14.11 points to close at a month-long low of 337.99. Until that point, investors had been reveling in "Big Bull Market," a record-setting run which was well over a year old. As the DOW hit new highs, the stock market became a national pastime; the craze for playing the stocks spread from being the sole province of the big-city elite to a part of the daily life of small-town America. However, as the Reserve Bank's move to advance the interest rate oh-so-subtly suggested, the good times were based on speculation rather than solid financial practices. By November 1929, this quiet hint at a downturn in the market would look more like a prophetic warning call. 
    1930 - Betty Boop debuts in Max Fleischer's animated cartoon “Dizzy Dishes.”
    1936 - Jesse Owens became the first American to win four medals in one Olympics. Owens ran one leg of the winning 400-meter relay team in Berlin. His three other gold medals were won in the 100-meter, 200-meter and the long jump events.
    1938 - Benny Goodman Orchestra, on a CBS Camel Caravan show from New York City, plays its first Eddie Sauter arrangement, “Bolero.”
    1941 - Baritone sax player/arranger/producer Willie Henderson birthday, Pensacola, FL.
http://allmusic.com/cg/amg.dll?p=amg&sql=Bmve097q7krdt
    1942 - Birthday of drummer Jack DeJohnette, Chicago, IL.
    1944 - LINDSEY, DARRELL R., (Air Mission) Medal of Honor
Rank and organization: Captain, U.S. Army Air Corps. Place and date: L'Isle Adam railroad bridge over the Seine in occupied France, 9 August 1944. Entered service at: Storm Lake, lowa. Birth: Jefferson, lowa. G.O. No.: 43, 30 May 1945. Citation: On 9 August 1944, Capt. Lindsey led a formation of 30 B-26 medium bombers in a hazardous mission to destroy the strategic enemy held L'lsle Adam railroad bridge over the Seine in occupied France. With most of the bridges over the Seine destroyed, the heavily fortified L'Isle Adam Bridge was of inestimable value to the enemy in moving troops, supplies, and equipment to Paris. Capt. Lindsey was fully aware of the fierce resistance that would be encountered. Shortly after reaching enemy territory the formation was buffeted with heavy and accurate antiaircraft fire. By skillful evasive action, Capt. Lindsey was able to elude much of the enemy flak, but just before entering the bombing run his B-26 was peppered with holes. During the bombing run the enemy fire was even more intense, and Capt. Lindsey's right engine received a direct hit and burst into flames. Despite the fact that his ship was hurled out of formation by the violence of the concussion, Capt. Lindsey brilliantly maneuvered back into the lead position without disrupting the flight. Fully aware that the gasoline tanks might explode at any moment, Capt. Lindsey gallantly elected to continue the perilous bombing run. With fire streaming from his right engine and his right wing half enveloped in flames, he led his formation over the target upon which the bombs were dropped with telling effect. Immediately after the objective was attacked, Capt. Lindsey gave the order for the crew to parachute from the doomed aircraft. With magnificent coolness and superb pilotage, and without regard for his own life, he held the swiftly descending airplane in a steady glide until the members of the crew could jump to safety. With the right wing completely enveloped in flames and an explosion of the gasoline tank imminent, Capt. Lindsey still remained unperturbed. The last man to leave the stricken plane was the bombardier, who offered to lower the wheels so that Capt. Lindsey might escape from the nose. Realizing that this might throw the aircraft into an uncontrollable spin and jeopardize the bombardier's chances to escape, Capt. Lindsey refused the offer. Immediately after the bombardier had bailed out, and before Capt. Lindsey was able to follow, the right gasoline tank exploded. The aircraft sheathed in fire, went into a steep dive and was seen to explode as it crashed. All who are living today from this plane owe their lives to the fact that Capt. Lindsey remained cool and showed supreme courage in this emergency. 
    1944 - Top Hits
“I'll Be Seeing You” - The Tommy Dorsey Orchestra (vocal: Frank Sinatra)
“Amor” - Bing Crosby
“Swinging on a Star” - Bing Crosby
“Is You is or is You Ain't (Ma' Baby)” - Louis Jordan
    1944 - The US Forest Service and the Wartime Advertising Council release posters featuring Smokey Bear for the first time. 
    1945 - Three days after the atomic bombing of Hiroshima, an American B-29 bomber named Bock's Car left its base on Tinian Island carrying a plutonium bomb nicknamed “Fat Man.” Its target was the Japanese city of Kokura, but because of clouds and poor visibility the bomber headed for a secondary target, Nagasaki, where at 11:02 AM, local time, it dropped the bomb, killing an estimated 70,000 persons and destroying about half the city. Memorial services are held annually at Nagasaki and at Kokura, where those who were spared because of the bad weather also grieve for those at Nagasaki who suffered in their stead. On August 14, President Harry S. Truman announced the “unconditional” surrender of Japan. V-J Day was August 15. On August 30, General MacArthur landed in Japan with occupational forces. The formal document of surrender was signed on September 2 aboard the U.S.S. Missouri in Tokyo Bay.
    1947 - Birthday of Barbara Mason, Philadelphia, PA.  She is best known for her self-written 1965 Hit, "Yes, I’m Ready" (#5 pop, #2 R&B), a fetching soul-pop confection that spotlighted her girlish vocals and one of the first examples of the rhythmic but lush sound that came to be called Philly soul.
    1952 - Top Hits
“Walkin' My Baby Back Home” - Johnnie Ray
“Auf Wiedersehn, Sweetheart” - Vera Lynn
“I'm Yours” - Don Cornell
“Are You Teasing Me” - Carl Smith
    1958 - Billboard magazine changed the name of its weekly music chart from the Top 100 to the Hot 100, a name that will stick until 1996. Their first number one was "Poor Little Fool" by Ricky Nelson, his sixth hit record in the US. 
    1959 - Lloyd Price's "Stagger Lee" hits #1
    1959 - Pioneer of the rap genre, Kurtis Blow, is born Kurtis Walker in Harlem, New York.
    1960 - Race riot in Jacksonville, FL.
    1960 - Top Hits
“Itsy Bitsy Teenie Weenie Yellow Polkadot Bikini” - Brian Hyland
“It's Now or Never” - Elvis Presley
“Image of a Girl” - Safaris
“Please Help Me, I'm Falling” - Hank Locklin
    1961 - James B Parsons is the first black appointed to the Federal District Court.
    1963 - Singer Whitney Houston (d. 2012) was born in Newark, NJ.  The daughter of singer Cissy Houston and cousin of Dionne Warwick. Her first seven solo singles go top five on Billboard's Hot 100. Houston is the only artist to chart seven consecutive No. 1 Billboard Hot 100 hits. She is the second artist behind Elton John and the only woman to have two number-one Billboard 200 Album awards (formerly "Top Pop Albums") on the Billboard magazine year-end charts.  She was also featured earlier on a Teddy Pendergrass single that failed to reach the top 40.  Her career is interrupted with a very poor marriage and addiction to drugs.  On February 11, 2012, Houston was found dead in her guest room at The Beverly Hilton.  The official coroner's report showed that she had accidentally drowned in the bathtub, with heart disease and cocaine use listed as contributing factors
    1963 - The BBC's Rock and Roll television show “Ready! Steady! Go!” makes its debut. The first episode featured The Searchers, Jet Harris, Pat Boone, Billy Fury and Brian Poole and the Tremeloes. The final show aired in December 1966 after 175 episodes. 
    1965 - No. 1 Billboard Pop Hit: "I Got You Babe," Sonny & Cher. The song, which sells more than 1 million copies, is the duo's only No. 1 hit. A remake of the song by UB40 with Chrissie Hynde hits No. 28 in September 1985.
    1966 - LEE, HOWARD V., Medal of Honor
Rank and organization: Major, U.S. Marine Corps, Company E, 2d Battalion, 4th Marines, 3d Marine Division (Rein). place and date: Near Cam Lo, Republic of Vietnam, 8 and 9 August 1966. Entered service at: Dumfries, Va. Born: 1 August 1933, New York, N.Y. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty. A platoon of Maj. (then Capt.) Lee's company, while on an operation deep in enemy territory, was attacked and surrounded by a large Vietnamese force. Realizing that the unit had suffered numerous casualties, depriving it of effective leadership, and fully aware that the platoon was even then under heavy attack by the enemy, Major Lee took 7 men and proceeded by helicopter to reinforce the beleaguered platoon. Maj. Lee disembarked from the helicopter with 2 of his men and, braving withering enemy fire, led them into the perimeter, where he fearlessly moved from position to position, directing and encouraging the overtaxed troops. The enemy then launched a massive attack with the full might of their forces. Although painfully wounded by fragments from an enemy grenade in several areas of his body, including his eye, Maj. Lee continued undauntedly throughout the night to direct the valiant defense, coordinate supporting fire, and apprise higher headquarters of the plight of the platoon. The next morning he collapsed from his wounds and was forced to relinquish command. However the small band of marines had held their position and repeatedly fought off many vicious enemy attacks for a grueling 6 hours until their evacuation was effected the following morning. Maj. Lee's actions saved his men from capture, minimized the loss of lives, and dealt the enemy a severe defeat. His indomitable fighting spirit, superb leadership, and great personal valor in the face of tremendous odds, reflect great credit upon himself and are in keeping with the highest traditions of the Marine Corps and the U.S. Naval Service. 
    1967 - Jerry Lee Lewis gets the crowd going into such a frenzy while performing at the Sunberry Jazz and Blues Festival in England, that festival officials halt his show and ask him to leave the stage.
    1967 – The only man ever to play in a Super Bowl and a World Series was born in Ft. Myers, FL.  Deion Sanders played primarily at cornerback in the NFL with several teams, winning the Super Bowl with both the 49ers and the Cowboys. An outfielder in baseball, he played for several teams and participated in the 1992 World Series with the Braves.  
    1968 - Top Hits
“Hello, I Love You” - The Doors
“Classical Gas” - Mason Williams
“Stoned Soul Picnic” - The 5th Dimension
“Folsom Prison Blues” - Johnny Cash
    1968 - Steppenwolf opened at the San Francisco Avalon Ballroom.
    1969 - A tornado hit Cincinnati, killing four persons and causing fifteen million dollars property damage. The tornado moved in a southeasterly direction at 40 to 50 mph. 
    1969 - "Hot Fun in The Summertime," by Sly and the Family Stone, and "Easy to Be Hard," from the Broadway production "Hair," were released on this day. "Hot Fun" made it to number two on the music charts (10/18/69) and "Easy to Be Hard" climbed to number four (9/27/69).
    1969 - Cult leader Charles Manson and his disciples committed one of Los Angeles' most heinous crimes. They entered the home of movie director Roman Polanski and brutally murdered Polanski's pregnant wife, actress Sharon Tate, movie director Voityck Frykowski, famous hair stylist Jay Sebring, student Steven Parent and coffee heiress Abigail Folger.
   1969 - A tornado hit Cincinnati OH killing four persons and causing fifteen million dollars property damage. The tornado moved in a southeasterly direction at 40 to 50 mph.
    1971 - LeRoy “Satchel” Paige, one of baseball's pitching legends, was inducted into the Baseball Hall of Fame in Cooperstown, NY.
    1971 - The first airport baggage scanning system that converted electronic data to a visible X-ray format was the Pep-720 baggage X-ray system manufactured by Princeton Electronic Products, New Brunswick, NJ. The U.S. Army had it installed at the Army's Picatinny Arsenal
    1972 - Gilbert O'Sullivan receives a gold record for "Alone Again Naturally." It's Number One for six weeks in the summer.
    1974 - Richard Milhous Nixon resigned from the presidency of the US, which he first announced in a speech to the American people Thursday evening, August 8, and it became effective at noon. Nixon, under the threat of impeachment as a result of the Watergate scandal, became the first person to resign the presidency. He was succeeded by Vice-President Gerald Rudolph Ford, the first person to serve as vice-president and president without having been elected to either office. Ford granted Nixon “full, free and absolute pardon” on September 8, 1974. Although Nixon was the first US president to resign, two vice presidents had resigned earlier in history: John C. Calhoun, Dec. 8, 1932, and Spiro T. Agnew, October 10, 1973.    
    1975 - The Bee Gees' "Jive Talkin'" hits #1, their first of several Disco style hits in the US when "Jive Talkin’" topped the Billboard Hot 100. The inspiration for the song came to Barry Gibb as his car passed over a Florida bridge on the way to a recording studio. His wife said "Hey, listen to that noise. It's the same every evening. It's our drive talking."
    1976 - Top Hits
“Don't Go Breaking My Heart” - Elton John & Kiki Dee
“Let 'Em In” - Wings
“You Should Be Dancing” - Bee Gees
“Golden Ring” - George Jones & Tammy Wynette
    1978 - No. 1 Billboard Pop Hit: "Three Times a Lady," Commodores. Band member Lionel Richie was inspired to write the song at a 37th anniversary party for his parents.
    1981 – Major League baseball teams resumed play at the conclusion of the first mid-season players' strike. The first game on the schedule following the bitter strike was the All-Star Game. The National League won the game 5-4. 72,086 diehard baseball fans (a record) came out to see the game at Cleveland's cavernous Municipal Stadium -- and welcome the players back.
    1982 - Survivor's "Eye of the Tiger," which is the theme song for the hit movie "Rocky III," goes gold.
    1984 - Top Hits
“When Doves Cry” - Prince
“Ghostbusters” - Ray Parker Jr.
“State of Shock” - Jacksons
“Mama He's Crazy” - The Judds
    1987 - Florida baked in the summer heat. Nine cities reported record high temperatures for the date, including Jacksonville with a reading of 101 degrees. Miami reported a record high of 98 degrees.
    1987 - No. 1 Billboard Pop Hit: "I Still Haven't Found What I'm Looking For," U2. The album "The Joshua Tree" is U2's first top 10 album in the U.S.
    1988 - President Reagan nominated Lauro F. Cavazos to be Secretary of Education. Cavazos was the first Hispanic in U.S. history to be named to a cabinet position. On Sep 20, 1988, he was unanimously confirmed by the U.S. Senate. President George H.W. Bush asked him to continue as Secretary following the 1988 election and he remained in that position until resigning in December, 1990.
    1988 - After a postponement the night before, the first night game in Wrigley Field saw the Chicago Cubs defeat the New York Mets, 6-4.
    1989 - President George Herbert Walker Bush appointed Colin Luther Powell chairman of the Joint Chiefs of Staff. He became the first African-American appointed to this position. Powell, born in New York City in 1937, served from 1987 to 1989 as national security advisor to President Ronald Wilson Reagan. In 1989, he was promoted to four-star general, thus becoming the highest-ranking African-American officer up to that time. During his service as chairman, he oversaw the 1991 Gulf War military campaign. He resigned in 1993. He was appointed Secretary of State by President George Walker Bush in 2001.
    1989 - Top Hits
“Right Here Waiting” - Richard Marx
“On Our Own” (From "Ghostbusters II") - Bobby Brown
“Batdance” (From "Batman") - The Artist
“So Alive” - Love And Rockets
    1989 - Evening thunderstorms in Arizona deluged Yuma with record torrential rains for the second time in two weeks. The rainfall total of 5.25 inches at the Yuma Quartermaster Depot established a state 24-hour record, and was nearly double the normal annual rainfall. Some of the homes were left with four feet of water in them. Seventy-six cities in the south central and eastern U.S. reported record low temperatures for the date. Lake Charles, LA equaled their record for August with a low of 61 degrees. Canaan Valley, WV was the cold spot in the nation with a low of 32 degrees. 
    1990 - The US Navy formed a naval blockade and all export of oil from Iraq and Kuwait was cut off. August 10, at a meeting in Cairo, 12 of the 21 member nations of the Arab League voted to support the UN and US Actions. It would not be until November 29, that the UN Security Council voted to authorize the US and allies to use force to expel Iraq from Kuwait, it its troops did not leave by January 15, 1991. by the end of 990, 580,000 Iraqi troops were believed to be in Kuwait or southern Iraq. Facing them were 485,000 troops of 17 allied countries, an armada of ships, carriers, jets based in Italy, Turkey, and many other surrounding countries, and guided missiles with video cameras to not only steer toward the target, but show viewers on home television everything up to impact.
    1994 - Top Hits
“Stay” (“I Missed You”) (From "Reality Bites") - Lisa Loeb
“I Swear” - All-4-One
“Fantastic Voyage” - Coolio
“Wild Night” - John Mellencamp With Me Shell Ndegeocello
    1995 - Grateful Dead singer, guitarist and spiritual leader Jerry Garcia dies of a heart attack while undergoing drug rehabilitation at Forrest Farm, Marin County. He was 53.
http://www-2.cs.cmu.edu/~mleone/dead.html
    1999 - Top Hits
“Genie In A Bottle” - Christina Aguilera
“Tell Me It’s Real” - K-Ci
“Bills, Bills, Bills” – Destiny’s Child
“All Star” - Smash Mouth
    1999 - “On a grand night for hitters, pitchers got slammed,” as AP sports writer Ronald Blum put it, “for the first time in 129 years of Major League baseball, five grand slams were hit in one day.” 1) Fernando Tatis (St. Louis Cardinals), 2) Jose Vidro (Montreal Expos), 3) Mike Lowell (Florida Marlins), 4) Bernie Williams (NY Yankees), 5) Jay Buhner of the Seattle Mariners, being the last to hit the slam, actually set the record. 
    2002 - Barry Bonds joins Babe Ruth, Willie Mays and Hank Aaron as the only players ever to hit 600 career home runs. The 38-year-old Giant left fielder hit the milestone homer in the sixth inning by lining a 2-1 pitch thrown by Pirates starter Kip Wells over the center field wall at Pacific Bell Park. 
    2003 - Top Hits
“Crazy In Love” - Beyonce Featuring Jay-Z
“Right Thurr” - Chingy
“Never Leave You” - Uh Ooh, Uh Oooh!, Lumidee
“P.I.M.P.” - 50 Cent
    2004 - Terry Nichols was sentenced to 161 consecutive life sentences on state murder charges in the Oklahoma City bombing.
    2014 - Michael Brown, an 18-year-old African American male in Ferguson, MO, was shot and killed by a Ferguson police officer after reportedly assaulting the officer and attempting to steal his weapon, sparking protests and unrest in the city.  The next day, after a day of vigils, there were looting of businesses, vandalism of vehicles, and violent clashes between protestors and police.  On August 18, the Missouri National Guard arrived in Ferguson at the request of the Gov. Jay Nixon. On November 24, a grand jury decided that it would not indict Wilson in the shooting death of Brown.  Following the announcement of the grand jury's decision, there were peaceful protests as well as rioting.