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Monday, December 10, 2012



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Today's Equipment Leasing Headlines

Balboa Capital, Irvine, California
 Bulletin Board Complaint
  by Christopher Menkin, Publisher
   Companies who utilize Evergreen Clauses
    for Extra Lease Payments
     Companies who notify lessee in advance
      of lease expiration
       Classified Ads---Sales
 Leasing 102 by Mr. Terry Winders, CLP
  Advance Vendor Payment
   Leasing Books for Holiday Presents
    Classified Ads---Help Wanted
     Leasing Industry Recruiters
 Undercapitalized banks fall to lowest level in 3.5 years
  By Robert Clark and Nathan Stovall, SNL Financial
   Leasing News’ Top Stories Dec. 3---Dec. 6
    (What you may have missed)
     Shepherd Mix
      Huntington, Long Island, New York Adopt-a-Dog
       Classified ads—Back Office
News Briefs---
 AIG sells 90% of 925 plane leasing unit to Chinese
  Leasco Founder Saul Steinberg Passes Away
   Lower Manhattan Businesses Still Grapple With Recovery
    Mortgage rates hit new record low
     Banks vs. Credit Unions: Which one is right for you?
      Restaurant Association: What's Hot for 2013
       Instagram Pictures In Twitter Are Now Totally Gone
        Gasp over hundreds of billions in gold at Bank of England
         British Born McAfee wants to return to US, 'normal life'
          NBC Rides ‘The Voice’ From Worst to First Place
           Skyfall' reclaims No. 1 in attendance

Broker/Funder/Industry Lists | Features (collection)
Top Ten Stories Chosen by Readers | Top Stories last six months

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
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[headlines]
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Balboa Capital, Irvine, California
Bulletin Board Complaint
by Christopher Menkin, Publisher


This action removes Balboa Capital, Irvine, California from the list of "Companies who notify lessee in advance of lease expiration" and adds them back to "Companies who utilize Evergreen Clauses for Extra Lease Payme-nts."

"... the acceptance of the word of the president of the company will be accepted until proven otherwise."

http://www.leasingnews.org/Pages/lease_expiration.html

Balboa has a long history of abuse of Evergreen Clauses and other complaints, but Phil Silva said as new president things had changed:

"Our lease documentation is very specific on the end of term options for our customers. We do have a notification process prior to the end of term for all fair market value transactions and we do not charge renewals for $1 and fixed options transactions."
    - Phil Silva, President, Balboa Capital

November 21, 2012 John Krawisz, Graphic Pallet and Transport, Plainfield, Illinois telephoned, then followed up with supportive documents by email. The complaint regarding the "Evergreen Clause was verified, and since he also personally guarantee the transaction, Balboa Capital does not appear to be following Illinois Evergreen Clause Law of notification:
http://leasingnews.org/PDF/IllinoisEvergreenClauselaw.pdf

Mr. Krawisz made the following statement to the Better Business Bureau which he included in his documentation sent:

"We have two leases with Balboa Capital and both of them have been paid in full as of April, 2011. In May, I contacted our Sales Representative, Kenny, and asked him what needed to be done to get our $1.00 buyout and also advised him they took out two additional payments. He said he would get back to me. After leaving several messages and sending several email and not hearing back from him, we continued to call him. June came around and another two payments were taken out of our checking account. We again tried to contact him and finally got him by phone on June 22nd. He told us that our contract did have a $1.00 ‘buy out’ and he would handle the matter and get back to us. He would also have Michelle send us a refund check. He also told us to stop payments at our bank on the two automatic withdraws, which we did. Kenny did get back to us and said that he is still working on this matter and will get back to us. It is now July 27th, again they attempted to take out the payments out of our checking account but the bank did not allow it. We have sent Kenny several emails and faxes, and left over 60 messages on his voice mail. He will not call us back! We ended up call the CFO of the company. Kenny told us he was working on this matter. It has been over 3 months. I tried to talk to ******, who was not very nice to me, and she stated that we signed the contract. She also stated that Kenny would never tell us there was a $1.00 buyout nor would he tell us to stop payment on our automatic withdraws. However, Kenny did!

"Our sales representative tricked us into signing the lease that showed ‘fair market buyout option’ when they blatantly sold me the $1 buyout at the end of the lease. Kenny implied that it was the same thing. When confronting them about this, they said ‘you signed the contract’. They also pointed to another spot on the agreement that says I needed to give them 180 days of written notice or the lease would automatically renew for another 12 months. They have now taken 3 extra payments. We are now stuck with the option of turning back the equipment at the end of the 12 months or buying it for ‘fair market value’. I have tried to talk to Kenny regarding this matter but it doesn't seem to me that he cares about our company. He keeps on telling us he is working on it, when he is not! Now he is telling us that there is nothing further he can do for us and we have to just pay it.”

---

The Balboa Capital contract does state the residual on the face of the contract is "fair market value."

The issue of the contract ruling or the verbal agreement with the salesman is not a legitimate complaint for Leasing News.

The situation of continuing the ACH payments without notification is a legitimate complaint and is therefore here posted.

Balboa President Phil Silva did not return several telephone calls for over ten days, as well as emails, nor did Chief Executive Office Patrick Byrne, although Robert J. Rasmussen, Chief Operating Officer, did return one email regarding another matter (several of these were put in abeyance as Mr. Silva said Balboa Capital had supposedly changed.)

Graphic Pallet and Transport vs. Balboa case
PDF

Previous Balboa Capital Complaints:
http://leasingnews.org/archives/Apr2010/4_23.htm#bbc_balboa
http://www.leasingnews.org/archives/September%202008/09-10-08.htm#bbc
http://www.leasingnews.org/archives/August%202008/08-25-08.htm#bbc
http://www.leasingnews.org/archives/August%202008/08-13-08.htm#balb
http://www.leasingnews.org/archives/January%202007/01-29-07.htm#bbc
http://www.leasingnews.org/Conscious-Top%20Stories/BBC_Balboa.htm

 

 

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

 

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Companies who utilize Evergreen Clauses for Extra Lease Payments 

These companies use language in their purchase options to confuse, perhaps to deceive, with the result an automatic continuation for an additional twelve months of payments.

Several have contiuation of payments and the requirement of replacing the equipment for a new lease. Leasing News has had complaints involving companies who invoke the twelve months on a $1.00 purchase option, as well as on an Equipment Finance Agreements.


ACC Capital, Midvale, Utah
Balboa Capital, Irvine, California 
IFC Credit, Morton Grove, Illinois
Jules and Associates
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 
Republic Bank, Bountiful, Utah
Tetra Financial Group, Salt Lake City, Utah

ACC Capital, Midvale, Utah---This company is no longer in business, although its portfolio is being wound down, according to its owner Loni Lowder; the receivables are being collected by creditors. Lowder today is an employee, manager, Stalwart Contract Finance, Salt Lake City, Utah. To date, all Evergreen Clause complaints have been satisfied.

Balboa Capital, Irvine, California---This company had its first Bulletin Board Complaint in 2006. While a new president stated this was no longer the practice, a recent bulletin Board Complaint demonstrate the practice continues.
http://leasingnews.org/archives/Dec2012/12_10.htm#bbc

IFC Credit, Morton Grove, Illinois---This company is in bankruptcy, appeared many times in the Leasing News Bulletin Board prior to filing bankruptcy, but engaged in Evergreen Clauses, and unfortunately a recent example is a complaint to the trustee, stemming from M&T Bank lease assignment expiring and notify the lessee that they did not notify about the residual, which was a $1.00. This has happened many times with other banks who have taken over the IFC Credit Corporation portfolio. Calls and letters to the trustee and attorneys have gone unanswered.

Jules and Associates, Los Angeles, California--- Jules and Associates, Los Angeles, California---A repeat customer, who notified Jules and Associates on a lease, but was not before the 180 day expiration, so Jules and Associates instead of the 1% due for the residual ($2,308.79) charged six more payments or $40,463.94, and if 1% is not paid in this time, they will be subject to another three months.
http://leasingnews.org/archives/Aug2011/8_29.htm#jules

LEAF Financial Group, Philadelphia, Pennsylvania---It appears this company is in a more wind down phase, moving its operation of LEAF Commercial Credit with basically the same management. There have been complaints about the Evergreen Clause, including one this year for an Equipment Finance Agreement!

Marlin Business Leasing, Mount Laurel, New Jersey---The actual SEC filings state the profit earned from Evergreen Clause, primarily from copier leases. Bulletin Board Complaints have been received about this practice in addition to the SEC financial statement filings.

(9) Marlin Response to posting 

Marquette Equipment Finance, Midvale, Utah --- According to Dorran Sampson, Vice-President/Broker Relations: "Marquette Equipment Finance does not offer an Evergreen product. Our master lease provides for extensions but is negotiated at the schedule level. Notice periods are also negotiated at the schedule level and vary depending on the Lessee’s needs."

When the company was bought and became Pacific Western Equipment Finance (a division of Pacific Western Bank) he maintained the same position. It was noted his old company was still on the list, and a request of his "master lease" was made.

"Our docs are the same as when we were with Marquette. Because we’re public now, it is very difficult to get documents released."

I asked him if he could send to a broker wanting to do business with him, "Sorry, can’t forward to you or your brokerage."

A search of PACER, a national index for U.S. district, bankruptcy and appellate courts brought up a number of Marquette cases, and the first one hit pay dirt: Merchants & Farmers Bank, a Mississippi Corporation versus Marquette Equipment Finance and Applied Financial. It was a similar case and while "dismissed with prejudice" (6), it had the arguments regarding the purchase option and a copy of the complete contract with a similar PPR as with Mazuma Capital:

"(g) Lessee's Options at End of Initial Period. At the end of the Initial Period of any Lease, Lessee shall, provided at least one-hundred-eighty (180) days prior written notice is received by Lessor from Lessee via certified mail, do one of the following: (1) purchase the Property for a price to be determined by Lessor and Lessee, (2) extend the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) return the Property to Lessor at Lessee's expense to a destination within the continental United States specified by Lessor and terminate the Schedule; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule must first be paid in full, the provisions of Sections 6(c) and (d) and 7(c) hereof must be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property listed on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. In the event Lessor and Lessee have not agreed to either option (1) or (3) by the end of the Initial Period or if Lessee fails to give written notice of its option via certified mail at least one-hundred-eighty (180) days prior to the termination of the Initial Period, then option (2) shall apply at the end of the Initial Period. At the end of the extension period provided for in option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the end of any such successive six-month renewal period by either Lessor or Lessee giving to the other party at least ninety (90) days prior written notice of termination."

The first option is to purchase the equipment for a price to be determined by Lessor and Lessee and requires a certified letter 180 days prior. This sounds like a fair market purchase option, but the “price to be determined” language means that the Lessor can set any price it wants. This option is illusory in my opinion.

The second option is to continue the lease for an additional 12 months, the “Evergreen” period. No notice of this provision is given to the lessee either in advance of signing or prior to exercising this option. Republic Bank purchases these 12 month extensions in advance of their exercise. How would the bank know that the lessee is going to exercise this option, unless everyone knows it is the only practical option for the lessee to exercise? Republic Bank President Boyd Lindquist confirmed in a telephone call that he “buys” these extensions from Mazuma and has for quite some time.

The third option is to return the equipment, but the clause is draped with the condition that the lessee has to re-lease identical equipment for a similar term. It also has 180 day certified letter requirement, and applies to the second option of 12 months, but also has the clause of an automatic six month option. So what is the point of exercising this option? At the end of this re-lease, there would be the same three identical options, so the lessee would be required to re-lease and re-lease. It’s just like Groundhog Day.

Leasing News is working on obtaining information on other companies so named to add to the list, including follow-up on the master lease for Pacific Western Equipment Finance. If you have a copy, please send and will keep your name “off the record.”

((7) See for Copy of Filing, including contract.)

Mazuma Capital Corp, Draper, Utah Several routie "end of lease agreements, as alleged in Unified Container and Anderson Dairy (1) "8. The basic scheme involves the inclusion of a purchase, renewal, return (“PRR”) provision in the lease. The lessor assures the customer they will be able to purchase the equipment at the end of the initial term in the lease for a reasonable or nominal price. Often, the lessor promises the equipment can be purchased at a fixed percentage of the total amount financed. However, at the end of the initial lease term, the lessor refuses to honor the agreed upon purchase price or negotiate in good faith regarding a purchase price, but instead, insists the lease automatically renews for an additional term (usually twelve months).

9. The inclusion of the purchase and return options in the lease are entirely illusory and intended only to give the customer the false impression that it can exercise any of the three options at the end of the initial lease term, when in fact, the lessor will only allow an automatic renewal at the end of the initial lease term.) There are other exhibits. This case was settled "out of court."
    (page 3)

H. Jared Belnap, President & CEO, Mazuma Capital Corp., takes exception on beingon the Evergreen list. His full letter and Leasing News Response is at (5).

Onset Financial, South Jordan, Utah --- Onset contract, which contained:

“Section 20
n. Lessee's Options at Maturity of Base Period. At the maturity of the Base Period of any Lease, Lessee shall, provided at least one hundred fifty (150) days prior written notice is received by Lessor from Lessee via certified mail, do one of the meowing: (1) purchase the Property for a price to be determined by Lessor end Lessee, (2) renew the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) terminate the Schedule and return the Properly to Lessor at Lessee's expense to a destination within the continental United States specified by Lessor; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due end owing under the Schedule must first be paid in full, the provisions of Sections 8f, 8g and 7d hereof roust be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property fisted on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. In the event Lessor end Lessee have not agreed to either option (1) or (3) by the maturity of the Base Period, or if Lessee fails to give written notice of Its option via certified marl at least one hundred fifty (150) days prior to Use maturity of the Base Period, or if an Event of Default has occurred under any Lease, then option (2) shall apply at the maturity of the Base Period. At the maturity of the renewal period provided for In option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the maturity of any such successive six-month renewal period by either Lessor or Lessee giving to the other party at best thirty (30) days prior written notice of termination." (1)

((8) See for Copy of Onset Contract with PPR purchase option.

Republic Bank, Bountiful, Utah Purchases and participates in extended Evergreen clause agreements.

They are legal in all states, except four states require advance notification be given to the lessee regarding termination of the lease and its residual (Four states: New York Rhode Island, Texas, Illinois (In Illinois, Consumer law, but may affect commercial, especially a proprietorship, partnership or personal guarantee)"

Tetra Financial Group, Salt Lake City, Utah Several routine "end of lease agreements, as alleged in Unified Container and Anderson Dairy (1)

“22. Mazuma Capital is associated with Republic Bank and obtains financing for its leases containing PRR provisions from Republic Bank.

23. Like what took place at Amplicon, Inc., the PRR scheme utilized by Matrix, Applied Financial, LLC, Mazuma Capital, Tetra Financial Group, LLC and others has begun to be exposed through litigation and negative press. See Deseret News (2) articles attached hereto as Exhibits B (2) and C. (3)”

Here is a case where New York courts threw out the Evergreen Clause as not legal in New York, even though venue appears to be Utah. (4))

(1) 36 main pdf
http://leasingnews.org/PDF/36main.pdf

(2) Deseret News
http://leasingnews.org/PDF/DeseretNewsarticle.pdf

(3) Exhibit C
http://leasingnews.org/PDF/ExhibitCDeseret.pdf

(4) Salon Management case
http://leasingnews.org/PDF/SalonManagement.pdf

(5) Mazuma Takes Exception on Being on Evergreen List
http://leasingnews.org/archives/Jul2012/7_30.htm#mazuma

(6) Order to Dismiss with Prejudice
http://leasingnews.org/PDF/Marquette_order_dismiss.pdf

(7) Copy of filing, including contract
http://leasingnews.org/PDF/Maquette.pdf

(8) Copy of Onset Contract with PPR purchase option
http://leasingnews.org/PDF/OnsetContract.pdf

(9) Marlin Response to posting.
http://leasingnews.org/archives/Jul2012/7_13.htm#response

 

Bookmark Leasing News


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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

ABCO Leasing
Advantage Funding
Agility Ventures LLC
Allegiant Partners
American Leasefund, Inc. 
Balboa Capital Corp. 
BancLease Acceptance Corporation 
Bank of Ozarks Leasing 
Bankers Capital
Bank of the West, Indirect Equipment Finance 
Black Rock Capital
BSB Leasing
Calfund
Capital Technology & Leasing, LLC
Cobra Capital, LLC
Commerce National Bank
Dakota Financial, LLC
Direct Capital
eLease

Financial Pacific Leasing 

 


Five Point Capital, In
Forum Financial Services, Inc. 
Gonor Funding
GreatAmerica Leasing
Innovative Lease Services, Inc.
Lease-$mart
Madison Capital
Macrolease Corporation 
Manufacturer's Lease Plans, Inc
Mesa Leasing
Maxim Commercial Capital
Mount Pleasant Capital
National Machine Tool Financial Corporation
Navitas Lease Corp. 
Northwest Leasing Company
P&L Capital Corporation 
Pacifica Capital 
Pawnee Leasing Corporation

Southern California Leasing, Inc 
Standard Professional Services, LLC
Stoddard & Associates 
TEAM Funding Solutions
Vehicle Lenders Group, LLC

 



[headlines]

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Classified Ads---Sales


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

Central Valley, California
6 years sales, management, marketing, business development, budget planning, finance. Proven track record challenging and competitive situations. Expert: healthcare, banking, and entrepreneurship. dsp559@outlook.comResume
Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio tonylio@optonline.net
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

Orange County, CA 
20+ yrs. leasing sales/sales mgmt
Established remote office w/Lessee/Vendor following
Request Salary + commission or partnership w/direct funding source.
shermbp@gmail.com

San Francisco Bay Area:
15 year Vendor Program Agreement HUNTER. Currently employed at major IT manufacturer captive supporting direct and channel sales. Must have base, commission and benefit package.
E-mail: VdrPgmBizDev@aol.com

Texas/Oklahoma 
15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested.
E-mail: bankingdallas@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


 

 

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Leasing 102
by Mr. Terry Winders, CLP

Advance Vendor Payment

Many companies no longer carry much inventory or limited inventory so they only begin building the equipment when an order is received. In addition to this ---they require a cash advance payment to bind the purchaser to the deal.

In a lease, the lessor becomes the purchaser and usually sends a purchase order to the vendor including the cash down payment. Normally the purchase order carries language that only binds the lessor to the deal if the lessee closes the lease.

Here is an example language that may appear in the lessor’s purchase order:

“This order is given in reliance on your assurance that lessee has selected the equipment described above and will accept the same on delivery. If lessee does not accept the equipment for any reason what-so-ever, we shall have no obligation here under, and you shall refund to us all sums (including taxes, transportation charges and other charges) paid for or on account of the equipment.”

The problem is the vendor is not going to accept returning the down payment so we will have to modify our language to include being at risk for the advance payment. The real question is how do we bind the lessee to the deal?

The lease does not become effective or enforceable until the acceptance is signed so it is difficult to use the lease to recover the advance payment if lessee backs out. Therefore, usually the lessor has the lessee sign a promissory note for the advance monies. This is a legal instrument that can be used to recover the cash advanced to the vendor.

The lease is not affected if the promissory note is paid from the proceeds of the lease, when the acceptance is signed. If necessary a security agreement could also be used to add collateral, if it is free and clear of liens. In addition some States require the lessor to have a lenders license to use this procedure.

I know that some lessors prefer to use a document called a “pre funding document,” but it primarily relies on the language in the lease, if a master lease has been signed. I prefer and recommend highly the promissory note because it is easy to litigate. A prefunding document is new to most judges and the cost of litigation is much higher.

If the lessor is a captive it usually is a separate company from the manufacture so the same procedure applies.

You should make sure the interest rate on the promissory note is with in State limits and when added to the lease cost it does not exceed the usury limits if it is an Article 9 lease intended as a security.

I also always recommend you consultant an attorney who specializes in the finance and leasing industry and not take this task on without their experience and advice.

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

He invites your questions and queries.

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

 





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Leasing Books for Holiday Presents


CLP Foundation Handbook--December only: $49.95
(This is the most current book on this list)
http://www.clpfoundation.org/toolbox/clp_handbook.php

Complete Leasing Handbook: A Deal Maker's
guide with Forms, Checklists, and Worksheets $44.08
by Richard M. Contino
(Feb. 26, 2006)
He has other books here, going back to 1979)
http://www.amazon.com/exec/obidos/search-handle-url/index=books&field-author=Contino%2C%20Richard%20M./104-5395322-4415965



Equipment Leasing--Mathew Bender 3 volumes
$857.00

Originally Published in 1995 by Barry Dubin and Jeffrey Wong, it
has been up-dated; considered the most thorough book on leasing
http://www.lexisnexis.com/store/catalog/booktemplate/productdetail

 

Power Tools for Leasing $39.95
Written by Gatelli, Johnson, Marks in 2004 (still very appropriate, especially for those new in the business)
Call James Johnson at 815.753.1116 or email him at jamesjohnson@spam@niu.edu

Winning with Leasing $195.00
by Sudhir Amembal (2006)
(Site states six weeks for delivery, but you can
use a certificate as the present)
http://www.amembalandassociates.com/publications.html

 

 



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Leasing Industry Help Wanted

Credit Coordinator
11620 Wilshire Blvd
Los Angeles, CA 90025

Liaison between the Brokers/Clients and Maxim Credit Underwriters during the underwriting process. Coordinator will be responsible for managing the process of each transaction through our CRM and workflow management software. Click here for more information

www.maximcc.com
Founded 2008, Maxim Commercial Capital, LLC is a nationwide funding source for Equipment and Real Estate secured commercial transactions.

 

Help Wanted Classified Ads

Cost
$595 four HTML lines
(note, a space is counted as a line)
$40 for each additional line or space

The classified ad will appear for 21 days.

The idea is to attract an applicant to learn more, either to click to a full description on your web site or to a full job description attachment (free, no charge).

All "Help Wanted" ads go into the "Help Wanted" classified ad section, which appears in each news edition, and is well read. The ad will also appear on the web site for those who go directly to the web site section.

A "Help Wanted" ad appears at the top of the headlines in each edition in a chronological basis with other help wanted ads. The position cannot be purchased. The ad also continues to appear in the classified ad section in the news edition as well as the web site in addition to appearing above the headlines. If there is only one help wanted ad, a display ad may be utilized in the rotation basis as this position, meaning the one help wanted ad is not going to be on top in every edition.

Contact kitmenkin@leasingnews.org for more
information or to help word a classified ad.

Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board




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Leasing Industry Recruiters

These companies have experience in the finance and leasing industry

Please fax our request form back to 408.317-2066 or you 
may e-mail to: kitmenkin@leasingnews.org .

Second Column: YCS - Year Company Started YELB - Years in equipment Leasing Business

Name 
City, State 
Contact 
Website 
Leasing Association
YCS 
YELB 
(see above for meaning)
Geographic Area
Specialty

Executive Solutions for Leasing & Finance, Inc.
1141 Minisink Way Westfield, NJ 07090
Teri Gerson , President
terigerson@exsolutions.com908.654.1550 (f) 908.847.0377 
ELFA 
www.exsolutions.com

1990 
(1990)

Nationwide

Search firm specializing in leasing industry. Services include retained and contingent search, strategic consultation, compensation analysis, sales & management training, & customizable consulting products.

Financial Pro Solutions 
Hal T. Horowitz
22845 Ventura Blvd.,
Suite 124
Woodland Hills, CA 91364
Office:  (818) 347-FINA
(347-3462) 
Fax: 818-597-3201 
Cell:  (818) 730-0645 
Email: halh@finapros.com 
www.finapros.com

1983

(2008)

Nationwide

Retained search firm seeking financial professionals for growth-oriented and challenging opportunities in commercial banking, equipment leasing, asset based lending. Also works with firms seeking V- and C-level financial executives with accounting, financial analysis or treasury disciplines.

Professional Profiles, 
Specialists in Executive Search, Inc.

Mary Beth Norton 
mb@leasingrecruiter.com
708-403-9229 Voice 
708-403-8854 Fax 
www.leasingrecruiter.com 

N/A
(1986)

Nationwide

We are, by choice, a small shop. We take a very personal approach with all our candidates and hiring managers.
We treat them all
(even those we are unable to help)
with respect and professionalism. 

Recruiters 
International, Inc. 
(RII) 

Pembroke Pines, FL 33025 
Emily Fitzpatrick 
Sr. Recruiter 
riiemily@comcast.net
Phone: 954-885-9241
recruitersinternationalinc.org

2000

North America

Explanation:  Boutique Executive Search Firm Specializing in the Finance & Equipment Leasing Industries.

Our goal is to build long term relationships with our Clients & Candidates, keeping both sides abreast of current and future changes that effect supply & demand of Top Talent.  Excellent References & Testimonials

 

Please Send Leasing News to a Colleague and ask them to subscribe.
It’s free, no forms to fill out, just put “subscribe” in subject line
and email: kitmenkin@leasingnews.org


[headlines]
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Undercapitalized banks fall to lowest level in 3.5 years
By Robert Clark and Nathan Stovall, SNL Financial


The overall pace of resolutions has slowed dramatically in the last two years. Ninety-two banks failed in 2011 after 157 saw their doors closed in 2010. The pace of failures has slowed even more considerably in 2012, with 50 banks failing this year.

Failures accounted for the bulk of the decline in undercapitalized institutions in the third quarter. Eight banks previously deemed undercapitalized have failed since SNL last published the list of undercapitalized banks in the industry. However, the number of undercapitalized banks fell by 12 from the linked quarter, even though five institutions previously not deemed undercapitalized joined those ranks as of Sept. 30 data.

Indeed, Georgia and Florida, home to 85 and 68 bank failures this cycle, respectively, tied for the most operating, undercapitalized institutions, with five banks falling below the 4% Tier 1 risk-based capital threshold at Sept. 30. Tennessee has the third-most operating undercapitalized institutions as of Sept. 30, with three banks falling below the threshold. Tennessee has not seen nearly as many bank failures as Florida or Georgia, with just three banks failing in Tennessee this credit cycle.

The FDIC defines undercapitalized banks as those with a total risk-based capital ratio below 8.0%, a Tier 1 risk-based capital ratio below 4.0% or a Tier 1 leverage capital ratio below 4.0%, unless the bank is a CAMELS one-rated institution. In that case, a bank would be undercapitalized if its leverage ratio is less than 3.0%.


Forty-two banks and thrifts were undercapitalized, based on the criteria of having Tier 1 ratios below 4%, at Sept. 30, compared to 54 institutions at the end of the second quarter and 72 institutions a year ago, according to SNL data, representing linked-quarter and year-over-year decreases of 22.2% and 41.7%, respectively. With the decline in the third quarter, the number of undercapitalized institutions has fallen to the lowest level since the first quarter of 2009.

The number of undercapitalized banks in the industry has steadily declined for the last eight quarters, but failures have been largely responsible for the declines rather than banks finding their way out of trouble through other means. The story changed in the first quarter, when seven banks built their capital levels either through recapitalizations, mergers or balance sheet shrinkage and de-risking, coupled with modest earnings in some cases.

The trend did not really continue in the second quarter, though, when just three banks found their ways out of trouble through de-levering while 15 banks that escaped undercapitalized territory in the period failed. The story was the same in the third quarter, when 12 banks failed and just three banks found their way out of trouble through recapitalizations.

In part aided by failures, the decline in undercapitalized institutions far outpaced the decline in the number of banks on the FDIC's "problem list." The number of institutions on that list has fallen but remained elevated in the third quarter at 694 institutions, compared to 732 in the second quarter and 844 a year ago, a 5.2% drop from the linked quarter and 17.8% down from a year ago.

The relatively low level of undercapitalized institutions is noteworthy, though, since the overall level remains somewhat skewed to the high end by Capitol Bancorp Ltd., which has had eight of its banking subsidiaries among the list of undercapitalized banks for quite some time. Excluding those banks, the number of operating undercapitalized institutions stood at 27 at Sept. 30.

Capitol Bancorp's banking subsidiaries are hoping to escape undercapitalized territory through a prepackaged bankruptcy plan. A private equity firm has announced plans to invest inject $50 million into Capitol Bancorp, and that could help attract other investors to achieve the minimum it needs to complete the plan, but many observers believed the plan could be daunting since it is contingent on raising additional capital. The company just announced that its reorganization plan faces an eight-week delay

Like most of the Capitol Bancorp subsidiaries, the majority of undercapitalized banks in the industry remain in areas of heavy distress that have produced a substantial portion of the nation's bank failures.

When excluding the banks that have failed or sold since the end of the third quarter, SNL data shows that 35 banks were undercapitalized based on Sept. 30 data, compared to 42 banks at the last publication of the list of undercapitalized banks.

The few banks that escaped undercapitalized territory did not find their way out of trouble through traditional raises in the capital markets and primarily managed to boost their capital ratios by capital raises from a few investors.

There were some signs early in the year that capital-raising activity might be picking up, but much of the transaction activity has supported offensive growth rather than full-scale defensive recapitalizations. Some banks, particularly larger institutions, have issued preferred equity to support growth, and fewer institutions are tapping the capital markets through



 



[headlines]
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Leasing News’ Top Stories Dec. 3---Dec. 6
(What you may have missed)

Here are the top ten stories opened by readers

(1) Radiance Capital, Fife, Washington
Bulletin Board Complaint---Up-Date
http://leasingnews.org/archives/Dec2012/12_03.htm#ads_legal

(2) Equipment Finance Agreements Explained
by Barry S. Marks, Esq.
http://leasingnews.org/archives/Dec2012/12_06.htm#marks

(3) Leasing 102 by Mr. Terry Winders, CLP
Equipment Price”
http://leasingnews.org/archives/Dec2012/12_03.htm#equipment

(4) Heidi Groomer Passes Away
Long Time Business Manager for BSB Leasing
http://leasingnews.org/archives/Dec2012/12_06.htm#groomer

(5) Correction---Bulletin Board Complaint
Radiance Capital, Fife, Washington
http://leasingnews.org/archives/Dec2012/12_06.htm#bbc

(6) Ten Percent Late Fees
By Tom McCurnin
http://leasingnews.org/archives/Dec2012/12_03.htm#fees

(7) NEW ELFA Website to Help Business—NOT ALL
by Christopher Menkin
http://leasingnews.org/archives/Dec2012/12_06.htm#elfa

(8) John McAfee, Software Pioneer, Is Arrested in Guatemala
http://www.nytimes.com/2012/12/06/business/mcafee-antivirus-software-pioneer-arrested-in-guatemala-city.html?_r=0

(9) Bank Beat---Enforcement action nation:
1 in 8 banks under severe EAs
By David Hayes, SNL Financial
http://leasingnews.org/archives/Dec2012/12_03.htm#snl

(10) New Hires---Promotions
http://leasingnews.org/archives/Dec2012/12_06.htm#hires

Extra not counted for technical reasons:
Heidi Groomer Passes Away
Long Time Business Manager for BSB Leasing
http://www.leasingnews.org/Pages/groomer.html

 

John Kenny Receivables Management
www.jrkrmdirect.com

• End of Lease Negotiations & Enforcement
• Fraud Investigation
• Credit Investigations
• Asset Searches
• Skip-tracing
• Third-party Commercial Collections

The Solution to Your Credit & Accounts Receivable Needs 
John Kenny
315-866-1167 |  John@jkrmdirect.com

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

Send Leasing News to a Colleague. We are free!!!

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


Shepherd Mix
Huntington, Long Island, New York Adopt-a-Dog




Shane
Breed: Shepherd Mix
Gender: Male
Age: Two Years old
Size: Large

"This big boy is a catch! This is Shane...a 2 year old neutered Shepherd Mix we rescued from a local town shelter.

"Shane is a lover boy who just wants to steal your heart and affection. He's still young and energetic but will also enjoy cuddling up next to you afterwards. It would be best if Shane's new family didn't have kids under 12 years old.

"If you're ready to have you heart stolen, come to the shelter to meet this big fella."

On Line Application:
http://wwwlittleshelter.com/dogs/application

How to Sponsor (Shane is unsponsored)
http://www.littleshelter.com/dogs/index.php?

Little Shelter Animal & Adoption Center
343 Warner Road
Huntington, New York 11743
Open 7 days a week
Monday to Friday 1-7pm
Saturday/Sunday 12-5pm
631-368-8770



Adopt-a-Pet by Leasing Co. State/City
http://www.leasingnews.org/Conscious-Top%20Stories/Adopt_Pet.htm

Adopt a Pet
http://www.adoptapet

 

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

Classified ads—Back Office

Leasing Industry Outsourcing
(Providing Services and Products)

Back Office: Atlanta, GA
Let Tax Partners handle your sales and use tax compliance duties w/less risk and cost than in-house. Largest tax compliance firm
in US
E-mail:sales@taxpartners.com
Back Office: 58 Calif. counties
Property tax, assessment appear representation and
consulting, including hearing appearances.
www.rpcpropertytax.com  
Ken Sullivan 800-540-3900
Backoffice: Dallas, TX 
Property Tax and sales and use tax administration services performance is guaranteed and we will save you time and money or our service is free.
E-mail: info@osgsolutions.com
 
Back Office: Gig Harbor, WA
Orion First Financial provides comprehensive lease/loan account servicing, collection/workout solutions and strategic advisory services. Contact David T. Schaefer
253-857-9610
dtschaefer@orionfirst.com
Back Office: Laughlin, NV
20 years experience on funder/broker sides. Looking for a relationship where I act as credit shop for smaller brokers when financial statements are involved.
E-mail:batarista@laughlin.net
Back Office: National Property Tax Compliance Services to the leasing industry. Over 60-years experience and fifty Lessors as clients. References and free quotes available,
(216) 658-5618,
E-mail gary@avptc.com
Back Office – National
Spending too much time on processing credit applications, preparing lease documents and other administrative tasks and not enough time marketing and growing your business? Call us! 407.964.1232
dee@leasebrokerassistant.com
Backoffice: New Rochelle, NY
Proactive management/administration of commercial/consumer vehicle lease/finance portfolios covering insurance, titles,
registrations, sales/property taxes, tickets, collections, accounting, vehicle disposition. Since 1975
E-mail: Barrett@BarrettCapital.com
Back Office: Northbrook, IL
Our staff of CPA's and lease professionals can handle any or all portfolio responsibilities incl. portfolio mgmt, invoicing, sales/property/income tax, accounting, etc. 
800-826-7070 
E-mail: ngeary@ecsfinancial.com
Back Office: San Rafael, CA
We can run your back office from origination to final payoff. 30 years experience in commercial equipment lease and loan portfolio management. 
E-mail:gmartinez@phxa.com
Back Office - Portland, OR 
Keep more of your hard-earned commissions! Middle-Market, Small-Ticket for brokers, nationwide, 20+years experience, negotiable splits. Contact us for more information at (888)745-9481 or
bev@alliedpacific.net
Back Office -Portland 
Portfolio Financial Servicing Company is a leading provider of private label primary and backup servicing for lease and loan contracts.  800-547-4905
sales@pfsc.com

Portfolio Servicing: Portsmouth, NH
Servicing without all the subcontracting. Payments, billing, collection, legal, recovery, accounting, tax. Leading systems; highly recognized professionals. Call 855.EENGINE
lendersolutions.equipmentengine.com

 

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

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


 

 


News Briefs----

 

AIG sells 90 percent of plane leasing unit to Chinese

Leasco Founder Saul Steinberg Passes Away

Lower Manhattan Residents and Businesses Still Grapple With Recovery

Mortgage rates hit new record low

Banks vs. Credit Unions: Which one is right for you?

Restaurant Association: What's Hot for 2013

Instagram Pictures In Twitter Are Now Totally Gone

Gasp over hundreds of billions in gold at Bank of England

British Born McAfee wants to return to US, 'normal life'

NBC Rides ‘The Voice’ From Worst to First Place

Skyfall' reclaims No. 1 as Gerard Butler suffers another flop

 

 

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

Growth of Social Media Story Synopsis
http://blog.nielsen.com/nielsenwire/global/social-media-report-2012-social-media-comes-of-age/

Full Social Story Report with charts
http://blog.nielsen.com/nielsenwire/social/2012/




[headlines]

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


SparkPeople--Live Healthier and Longer


SparkPeople--Live Healthier and Longer


''How I Became a Runner at Age 48''
http://www.sparkpeople.com/resource/fitness_articles.asp?id=1573



[headlines]

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

 


Sports Briefs----


Mistake-prone Miami loses 27-13 at 49ers
http://www.mercurynews.com/news/ci_22159210/mistake-prone-miami-loses-27-13-at-49ers
http://www.pressdemocrat.com/article/20121209/SPORTS/121209590

Falcons give performance to leave us wondering again
http://blogs.ajc.com/jeff-schultz-blog/2012/12/09/falcons-give-performance-to-leave-us-wondering-again/

Grieving' Dallas Cowboys beat Cincinnati Bengals on last-second field goal, stay in hunt for NFC East title
http://www.dallasnews.com/sports/dallas-cowboys/headlines/20121209-grieving-dallas-cowboys-beat-cincinnati-bengals-on-last-second-field-goal-stay-in-hunt-for-nfc-east-title.ece

Packers heat up, leave Lions out in the cold
http://www.usatoday.com/story/sports/nfl/2012/12/10/green-bay-packers-detroit-lions/1757817/

Weddle fake part of Chargers' complete win
http://www.utsandiego.com/news/2012/dec/09/weddle-fake-part-chargers-complete-win/

Seahawks' pounding of Arizona proves anything is possible for this team
http://seattletimes.com/html/stevekelley/2019872186_kelley10.html

 

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

 

American Football Poem

THE MOUNTAIN AND THE SQUIRREL 

By Ralph Waldo Emerson

The mountain and the squirrel 
Had a quarrel, 
And the former called the latter “Little Prig”; 
Bun replied, 
“You are doubtless very big; 
But all sorts of things and weather 
Must be taken in together, 
To make up a year 
And a sphere. 
And I think it is no disgrace 
To occupy my place. 
If I'm not so large as you, 
You are not so small as I, 
And not half so spry. 
I'll not deny you make 
A very pretty squirrel track; 
Talents differ; all is well and wisely put; 
If I cannot carry forests on my back, 
Neither can you crack a nut.”


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



California Nuts Briefs---

CA School District owes creditors $1 billion on $100MM loan
http://www.breitbart.com/Big-Government/2012/12/09/CA-District-That-Owes-1-Billion-On-100-Million-Loan-Not-The-Exception-In-Cash-Strapped-State

Apple's big year outshines mixed result for Silicon Valley
http://www.siliconvalley.com/sv150/ci_20437255/apple-silicon-valley-15-sv150-biggest-companies-tech


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



“Gimme that Wine”

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

Deft Hands Behind the Bubbles---by Eric Asimov
http://www.nytimes.com/2012/12/12/dining/reviews/deft-hands-behind-the-bubbles.html?ref=dining

Louis Roederer sells Bordeaux property to HK group
http://www.thedrinksbusiness.com/2012/12/louis-roederer-sells-bordeaux-property-to-hk-group/

Don't lose sight of the west in the drive for China, says Krug
http://www.decanter.com/news/wine-news/530689/don-t-lose-sight-of-the-west-in-the-drive-for-china-says-krug

SJV wine meet focuses on stepped-up production
http://westernfarmpress.com/grapes/sjv-wine-meet-focuses-stepped-production


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

     1672- the first postal route between cities was the route between New York City and Boston, MA. Governor Francisco Lovelace of New York announced that monthly service would be inaugurated on January 1, 1673. The first post rider left New York City on January 22,1673, and arrived in Boston three weeks later.
    1776- the Continental Congress authorized a loan of $181,5000 from France, to be used for the purchasing of supplies and construction of cruisers. The length of the loan was indefinite. Bonds were sold at par. The rate of interest was 5 percent, payable annually. The loan was received on June 4, 1777. The final redemption was made on December 31, 1793, when the balance due was merged into the general account of the French debt. Alexander Hamilton was between September 13,1789 and February 17, 1790 obtained loans from the Bank of New York and Bank of North America. The interest rate was six percent.
    1787- birthday of Thomas Alluded, a hearing educator who, with Laurent Clerc, founded the first public school for deaf people, Connecticut Asylum for the Education and Instruction of Deaf and Dumb Persons (now the American School for the Deaf), at Hartford, CT, Apr 15, 1817. Gallaudet was born at Philadelphia, PA, and died Sept 9,1851, at Hartford, CT.
    1819- African American Tom Molineux had a wide following by the time he left for England in 1810 to fight the English champion Tom Cribb on this day. Molineux, grew up in slavery, history records on a plantation in Virginia, and was said to have won his freedom by winning boxing bouts arranged by slave owners. He was very popular and the favored to win in the English champion fight this date. Although he knocked Cribb out in the 23rd round, he was falsely accused of using lead weights in his gloves, and the fight continued, ending in a victory for Cribb in the 40th round.
    1817- Mississippi became the 20th state.
    1830- birthday of one of America's greatest poets, Emily Dickinson, born at Amherst, MA She was reclusive. mysterious, and frail in health. Seven of her poems were published during her life, but after her death her sister Lavinia, discovered almost 2,000 more poems written on the backs of envelopes and other scraps of pa locked in her bureau. They were published gradually, over 50 years, beginning in 1890. She died May 1 1886, at Amherst, MA. The little-known Emily Dickinson who was born, lived and died at Amherst now is recognized as one of the most original poets of the English-speaking world.
    1845-- President James Polk makes a bold move to radically expand the burgeoning United States. Polk gave Congressman John Slidell the go-ahead to settle a border dispute concerning Texas, as well as to purchase New Mexico and California, from Mexico. As per Polk's demand, Slidell anted up $5 million for New Mexico and $25 million for California; however, Mexico refused the offer, emboldening the president to marshal a war effort in the name of "reannexing" the territory. We then annexed California and other land from Mexico with troops in Los Angeles and San Francisco.
    1850- Birthday of Jennie Augusta Brownscombe,- U.S. painter, specialist in scenes of early U.S. history. She was sought out by magazine and calendar publishers because of her meticulous perspective and realism. Huge numbers of reproductions of her paintings were also sold. Most buyers never knew her name. In all, she copyrighted more than 100 paintings. She lived simply with one companion/servant and died at 85.
http://www.artoftheprint.com/artistpages/brownscombe_
jeannie_augusta_youngwomanhood.htm

http://www.artnet.com/ag/artistdetails.asp?aid=3197
http://www.malaspina.com/site/person_256.asp
http://www.artcyclopedia.com/artists/brownscombe
_jennie_augusta.html
    1851- birthday of American librarian and inventor of the Dewey decimal book classification system was born at Adams Center, NY. Born Melville Louis Kossuth Dewey, he was an advocate of spelling reform, urged use of the metric system and was interested in many other education reforms. Dewey died at Highlands County, FL, Dec 26,19Th
    1852--10,000 people turned out to watch the first legal hanging in San Francisco . Jose Forniz was hanged from gallows built on the slope of Russian Hill for the murder of Jose Attari The crime which inaugurated public executions was of a very commonplace character. A Spaniard named Jose Forin struck down Attari, an unknown Mexican in Pleasant Valley, stabbing him with a dagger, for as he claimed, attempting to rob him. The case was tried before Judge Lake, with H. H. Byrne, District Attorney, as prosecuting counsel, and Judge H. S. Brown and Colonel James for the defense; and after a very prompt trial, Forin was sentenced to be hanged two months later. The execution took place on Russian Hill, much to the indignation of the cemetery wherein, among others, rested the bones of Don Vicente Nunez. It was the oldest burying-place for the city. That did not deter some three thousand people from attending, parents taking children to see the unusual sight, and women on foot and in carriages forcing their way to the front. Between 12 and 1 o’clock the condemned man was taken to the scaffold in a wagon drawn by four black horses, escorted by the California Guard. The Marion Rifles under Captain Schaeffer kept the crowd back from the scaffold. The man died game, after a farewell speech, in which he said: 
“The Americans are good people; they have ever treated me well and kindly; I thank them for it. I have nothing but love and kindly feelings for all. Farewell, people of San Francisco. World, farewell!” 
    1864-Union General William T. Sherman completes his "March to the Sea" when he arrives in front of Savannah, Georgia. Since mid-November, Sherman's army had been sweeping from Atlanta across the state to the south and east towards Savannah, one of the last Confederate seaports still unoccupied by Union forces. Along the way, Sherman destroyed farms and railroads, burned storehouses, and fed his army off the land. In his own words, Sherman intended to "make Georgia howl," a plan that was approved by President Lincoln and Ulysses S. Grant, general-in-chief of the Union armies. The city of Savannah was fortified and defended by 10,000 Confederates under the command of General William Hardee. The Rebels flooded the rice fields around Savannah, so only a few narrow causeways provided access to the city. Sherman's army was running low on supplies and he had not made contact with supply ships off the coast. Sherman's army had been completely cut off from the North, and only the reports of destruction provided any evidence of its whereabouts. Sherman directed General Oliver O. Howard to the coast to locate friendly ships. Howard dispatched Captain William Duncan and two comrades to contact the Union fleet, but nothing was heard of the trio for several days. Duncan located a Union gunboat that carried him to Hilton Head Island, South Carolina. Supply ships were sent to Savannah, and Duncan continued on to Washington to deliver news of the successful "March to the Sea" to Secretary of War Edwin Stanton. For ten day, Hardee held out as Sherman prepared for an attack. Realizing the futility of losing in force entirely, Hardee fled the city on December 20 and slipped northward to fight another day.
    1869---Women in Wyoming received the right to vote. Originally expressed as a means of attracting women to this state where men overwhelming outnumbered the opposite sex, equality was a theme to be repeated over and over again as Wyoming became the first to grant women many equal rights.
( lower half of http://memory.loc.gov/ammem/today/dec10.html )
    1873- Birthday of Janet Scudder , an American sculptor, born in Terre Haute, Ind., studied with Frederick MacMonnies in Paris. She is known for her medallions and relief portraits and especially for her fountains, usually with childish figures conceived in a playful manner. Notable examples of her art are the "Frog Fountain" in the Metropolitan Museum, New York; the "Fighting Boy Fountain" in the Chicago Art Institute; and "The Sun Goddess" on the facade of the Brooklyn Institute Museum. Miss Scudder received medals at Chicago in 1893, St. Louis in 1904, and San Francisco in 1915.
http://www.artcyclopedia.com/artists/scudder_janet.html
http://www.swope.org/main/collection/014coll.htm
http://askart.com/artist/S/janet_scudder.asp?ID=18320
    1898- the “Treaty of Paris” was signed, which officially ended the Spanish-American War. American and Spanish ambassadors met at Paris, France, to negotiate a treaty. Under the terms of this treaty, Spain granted the US the Philippine Islands and the islands of Guam and Puerto Rico, and agreed to withdraw from Cuba Senatorial debate over the treaty centered on the US's move toward imperialism by acquiring the Philippines~ A vote was taken Feb 6,1899, and the treaty passed by a one-vote margin~ President William Mckinley signed the treaty Feb 10, 1899.
    1904- the New York Police Department, New York City, appointed the first two motorcycle police officers, assigned to the police headquarters in the Bronx and Manhattan. Respectively there were Anthony L. Howe and Eugene Case.
    1905-- "The Gift of the Magi," a short story by William Sydney Porter, 43, was first published. Known by his pen name, O. Henry, Porter's writings were characterized by trick endings, making him a master of short story telling.
http://www.auburn.edu/~vestmon/Gift_of_the_Magi.html
    1906 -First American awarded Nobel Peace Prize - President Theodore Roosevelt
    1914-Birthday of Dorothy Lamour (Mary Leta Dorothy Slaton ) born New Orleans,LA.- U.S. singer-actor and wearer of a sarong in many of her movies. Sheis most renowned for her "road" films with Bob Hope and Bing Crosby and Hurricane (1937). One of the big questions was what held up the sarongs - she said muscle control had a lot to do with it. During the Second World War she auctioned two of her sarongs as part of fund-raising efforts that collected more than $2 million for the war effort. She was a native of New Orleans and never saw the South Pacific until she was 70 when she said it looked as pretty as the back lot of Paramount. Died Los Angeles, Ca. 22 September 1996
http://www.geocities.com/Hollywood/Hills/2440/lamour.html
http://www.canoe.ca/JamMoviesArtistsL/lamour_dorothy.html
http://us.imdb.com/name/nm0483787
    1930-- Duke Ellington and His Orchestra record "Mood Indigo
    1931- the first Nobel Peace Prize awarded to an American woman was awarded to Jane Addams, the pioneering social worker who founded Hull House, In Chicago, ILL, to serve the city's poor residents. She received the award jointly with Dr. Nicholas Murray Butler, president of Columbia University, for her leading role in the women's peace movement. She chaired the Woman's Peace Party in 1915, presided over the Women's International League for Peace and Freedom from 1919 to 1929 and helped to found the American Civil Liberties Union in 1920.
    1932-Birthday of bass player Bob Cranshaw, Evanston, Il
http://shopping.yahoo.com/shop?d=product&id=1927028789&
clink=dmmu.artist&a=b

    1938-Filming finally begins on Gone with the Wind after years of delay. Producer David O. Selznick had not yet cast an actress to play the leading role of Scarlett O'Hara, so the first day's shooting was of the burning of Atlanta, which didn't require close footage of Scarlett.
    1938- Pearl S.Buck becomes the first woman to win the Nobel Prize for Literature.
http://www.nobel.se/literature/laureates/1938/buck-bio.html
http://www.pearl-s-buck.org/psbi/PearlSBuck/about.asp
    1941 -Jimmy Dorsey Bank records “Tangerine.” Decca 4123
    1941-4,000 Japanese troops land on the Philippine Islands, while Japanese aircraft sink the British warships Prince of Wales and Repulse. Guam, an American-controlled territory, was also seized. British Prime Minister Winston Churchill finally exclaims, "We have lost control of the sea." The attack on Pearl Harbor was only one step in a larger plan to dominate the Pacific, which entailed knocking out first American, then British, naval opposition. Japanese bombing raids on Guam, Midway Island, and Wake Island followed the attack on the American fleet anchored at Pearl Harbor. American airfields there were destroyed, as were Clark and Iba airfields in the Philippines, wiping out more than half of the United States' aircraft dedicated to the Far East. These bombing raids were followed up, on December 10, by 2,000 Japanese troops that landed on the Philippine island of Luzon in the north, and another 2,000 that landed at Vigan on the western coast. And in Guam, 700 Japanese Special Naval Landing Forces invaded and occupied the American-controlled military outpost of Guam after only a 25-minute military engagement, resulting in the capture of 500 Americans soldiers. The United States was not alone in its struggle for the Pacific. Great Britain had also declared war on the Empire of Japan on December 8. The next day, Japan occupied the capital of Thailand and then landed in the Malay Peninsula, which could not be repulsed by the outmatched Australian and Indian troops. Britain responded by dispatching Force Z, their Royal Navy unit dedicated to supporting Singapore, when Japanese bombers spotted Z's battleship, the Prince of Wales, and its sister ship, the Repulse, sailing for Kuantan on the eastern coast of the Malay Peninsula, on the erroneous belief that the Japanese had just put troops ashore there. The bombers rained down torpedo bombs on the British warships, sinking them and killing 840 men. "In all the war, I have never received a more direct shock," Churchill lamented. And the Japanese were far from finished: The humiliation of the United States in the Philippines and a more extensive occupation of Indochina and the South Pacific were still to come.
    1948 -- United Nations passes Universal Declaration of Human Rights.
http://www.un.org/Overview/rights.html
    1949--Fats Domino recorded his first tracks for Imperial Records. One of those songs was called "The Fat Man", which later became his nickname. 
    1950- Dr. Ralph Johnson Bunche became the first African-American awarded the Nobel Peace Prize. Bunche was awarded the prize for his efforts in mediation between Israel and neighboring Arab states in 1949.
    1950---PAGE, JOHN U. D. Medal of Honor
Rank and organization: Lieutenant Colonel, U.S. Army, X Corps Artillery, while attached to the 52d Transportation Truck Battalion. Place and date: Near Chosin Reservoir, Korea, 29 November to 10 December 1950. Entered service at: St. Paul, Minn. Born: 8 February 1904, Malahi Island, Luzon, Philippine Islands. G.O. No.: 21, 25 April 1957. Citation: Lt. Col. Page, a member of X Corps Artillery, distinguished himself by conspicuous gallantry and intrepidity in action above and beyond the call of duty in a series of exploits. On 29 November, Lt. Col. Page left X Corps Headquarters at Hamhung with the mission of establishing traffic control on the main supply route to 1st Marine Division positions and those of some Army elements on the Chosin Reservoir plateau. Having completed his mission Lt. Col. Page was free to return to the safety of Hamhung but chose to remain on the plateau to aid an isolated signal station, thus being cut off with elements of the marine division. After rescuing his jeep driver by breaking up an ambush near a destroyed bridge Lt. Col. Page reached the lines of a surrounded marine garrison at Koto-ri. He then voluntarily developed and trained a reserve force of assorted army troops trapped with the marines. By exemplary leadership and tireless devotion he made an effective tactical unit available. In order that casualties might be evacuated, an airstrip was improvised on frozen ground partly outside of the Koto-ri defense perimeter which was continually under enemy attack. During 2 such attacks, Lt. Col. Page exposed himself on the airstrip to direct fire on the enemy, and twice mounted the rear deck of a tank, manning the machine gun on the turret to drive the enemy back into a no man's land. On 3 December while being flown low over enemy lines in a light observation plane, Lt. Col. Page dropped hand grenades on Chinese positions and sprayed foxholes with automatic fire from his carbine. After 10 days of constant fighting the marine and army units in the vicinity of the Chosin Reservoir had succeeded in gathering at the edge of the plateau and Lt. Col. Page was flown to Hamhung to arrange for artillery support of the beleaguered troops attempting to break out. Again Lt. Col. Page refused an opportunity to remain in safety and returned to give every assistance to his comrades. As the column slowly moved south Lt. Col. Page joined the rear guard. When it neared the entrance to a narrow pass it came under frequent attacks on both flanks. Mounting an abandoned tank Lt. Col. Page manned the machine gun, braved heavy return fire, and covered the passing vehicles until the danger diminished. Later when another attack threatened his section of the convoy, then in the middle of the pass, Lt. Col. Page took a machine gun to the hillside and delivered effective counter fire, remaining exposed while men and vehicles passed through the ambuscade. On the night of 10 December the convoy reached the bottom of the pass but was halted by a strong enemy force at the front and on both flanks. Deadly small-arms fire poured into the column. Realizing the danger to the column as it lay motionless; Lt. Col. Page fought his way to the head of the column and plunged forward into the heart of the hostile position. His intrepid action so surprised the enemy that their ranks became disordered and suffered heavy casualties. Heedless of his safety, as he had been throughout the preceding 10 days, Lt. Col. Page remained forward, fiercely engaging the enemy single-handed until mortally wounded. By his valiant and aggressive spirit Lt. Col. Page enabled friendly forces to stand off the enemy. His outstanding courage, unswerving devotion to duty, and supreme self-sacrifice reflect great credit upon Lt. Col. Page and are in the highest tradition of the military service.
    1953 - With an investment of $7,600, Hugh Hefner published the first "Playboy" magazine. There is no date printed on the first issue -- now a collector's item. The reason, according to Hef, is that he doubted anyone would expect a second issue to be printed. Included in this first issue: A classic, nude, calendar photo of actress Marilyn Monroe.
    1953 - Harry Belafonte debuted on Broadway in "Almanac" at the Imperial Theatre. Critics hailed Belafonte's performance as “electrifyingly sincere.” Also starring in the show: Hermione Gingold, Billy DeWolfe, Polly Bergen and Orson Bean.
    1955—Top Hits
Sixteen Tons - Tennessee Ernie Ford
Memories are Made of This - Dean Martin
Nuttin' for Christmas - Barry Gordon
Love, Love, Love - Webb Pierce
    1955 - "The Big Surprise" on NBC-TV awarded the largest amount of money given away on television. Mrs. Ethel Park Richardson of Los Angeles, CA may have needed an armored truck to carry away her $100,000 in cash.
    1963—Top Hits
Dominique - The Singing Nun
Everybody - Tommy Roe
Louie Louie - The Kingsmen
Love's Gonna Live Here - Buck Owens
    1963-- Donny Osmond makes his debut with the Osmonds on NBC's The Andy Williams Show.
    1964 - Rev. Martin Luther King became a recipient of the Nobel Prize for Peace. He was the youngest person to have earned the award.
    1965 -- Bill Graham holds second benefit for SF Mime Troupe, at Fillmore (first time there) Fillmore and Geary — 3,500 turn out. Warlocks become “The Grateful Dead,” and debut with the new name at the Fillmore Auditorium for the second San Francisco Mime Troupe Appeal Party. The Jefferson Airplane, The Great Society, the John Handy Quintet, the Mystery Trend, and Sam Thomas also appeared.
    1966 - The Beach Boys made a one-week stop at the top of the "Billboard" Hot 100 as "Good Vibrations" made it to #1. It was the third #1 hit the group scored. The others were "I Get Around" and "Help Me, Rhonda".
    1966-Brian Wilson's masterpiece, "Good Vibrations" becomes The Beach Boys' third Billboard number one hit. At a cost of $16,000, it was the most expensive single ever produced in music history up to that time.
    1967-A previously unrecorded group called The Steve Miller Blues Band signs with Capitol Records for an unheard of $750,000. Capitol persuades the group to drop the "Blues" from its name. 
    1967 - Otis Redding and four members of the Bar-Kays (Otis' backup group) were killed in the crash of a private plane near Madison, Wisconsin. Redding was 26 years old. His signature song, "(Sittin' On) The Dock of the Bay" was recorded three days before his death. It was #1 for four weeks beginning February 10, 1968. Redding was inducted into the Rock and Roll Hall of Fame in 1989. The Bar-Kays biggest hit was in July, 1967: "Soul Finger". James Alexander, bass player for the group, was not on the plane. Ben Cauley, trumpet player, survived the crash. The group played for a time with various new members.
    1969-"Suspicious Minds" becomes Elvis Presley's 48th Gold Record. At last count, he had 53. 
    1970-The defense opens its case in the murder trial of Lt. William Calley. Charged with six specifications of premeditated murder, Calley was a platoon leader in Charlie Company, 1st Battalion, 20th Infantry, 11th Infantry Brigade (Light) of the 23rd (America) Division. He was tried because of his leadership role in the My Lai massacres. On March 16, 1968, Calley led his troops to murder innocent Vietnamese civilians living in a cluster of hamlets located in Son Tinh District in Quang Ngai Province in the northern coastal lowlands. Citing "superior's orders," Defense Attorney George Lattimer contended that Capt. Ernest Medina, Calley's company commander, told his men that they were finally going to fight the enemy. He reportedly ordered "every living thing" killed. Lattimer also cited poor training of the platoon, the rage of the men who had seen their buddies killed, and the expectation of fierce resistance as additional factors contributing to the incident. The lawyer also charged that higher commanders on the ground and in the air observed the episode but did nothing. Despite Lattimer's argument, Calley was found guilty of murdering 22 civilians and sentenced to life imprisonment. His sentence was reduced to 20 years by the Court of Military Appeals and further reduced to 10 years by the Secretary of the Army. Proclaimed a "scapegoat" by much of the public, Calley was paroled by President Richard Nixon in 1974, after serving about a third of his 10-year sentence.
    1971—Top Hits
Family Affair - Sly & The Family Stone
Have You Seen Her - Chi-Lites
Got to Be There - Michael Jackson
Kiss an Angel Good Mornin' - Charley Pride
    1971 - William H. Rehnquist was confirmed by the Senate, 68-26, as U.S. Supreme Court Justice. He replaced Justice John Harlan who resigned in September 1971. Rehnquist joined the Court on January 7, 1972, the same day as Justice Lewis F. Powell Jr.
    1971- In one of the worst deals ever made, the Mets trade Nolan Ryan and three prospects to the Angels for six time all-star third baseman Jim Fergosi. The fireballer from Texas will set the all-time strike out record (5,714) and will become a member of the Hall of Fame while Fergosi will provide little help for New York.
    1972 - The longest non-scoring pass in NFL history was made as Jim Hart of the St. Louis Cardinals passed from his own one-yard-line to Bobby Moore, known now as Ahmad Rashad, who was tackled on the Los Angeles Rams' one-yard-line. The pass officially went for 98 yards.
    1974 -- Representative Wilbur D. Mills, Democrat from Arkansas, resigns as chairman of the Ways and Means Committee in the aftermath of the first truly public sex scandal in American politics.
http://waysandmeans.house.gov/legacy/portraits/
1899-2000/mills.htm
http://mullings.com/dr_05-10-00.htm
http://abcnews.go.com/sections/politics/DailyNews/
politics_condit010711.html
    1975-"The Who by Numbers", which contains the hit single "Squeeze Box", earns the Who another Gold record.
    1977 - In only his second year of riding, Steve Cauthen became the first jockey to win $6-million in a single season. Cauthen was dubbed ‘The Six Million Dollar Man', and ‘Stevie Wonder' by his admirers and was named 1977 Sportsman of the Year by "Sports Illustrated", the Associated Press, "ABC's Wide World of Sports" and "The Sporting News".
    1979-- Kool and the Gang's "Ladies Night" is certified gold 
    1979—Top Hits
Babe - Styx
Still - Commodores
Please Don't Go - K.C. & The Sunshine Band
I Cheated Me Right Out of You - Moe Bandy
    1980-John Lennon's body is cremated at the Fercliff Mortuary in Hatsdale, New York. Yoko took possession of the ashes and reportedly brought them back to her Dakota apartment. 
    1982 - Heavyweight Michael Dokes knocked out Mike Weaver at 1:03 of the first round to win the WBA heavyweight title in Las Vegas.
    1983--Paul McCartney and Michael Jackson started a six week run at #1 on the Billboard singles chart with "Say Say Say". It was Jackson's 10th chart topper, including solo and with The Jacksons, and was McCartney's 29th, including solo and with The Beatles. 
    1985 - The R.H. Donnelley Corporation announced plans to bring full color to its phone books, with red, blue and green ... along with the traditional Yellow Pages; and it wasn't long before ads printed in the Yellow Pages began sprouting up with red, blue and green accents (which cost more than the traditional, black-only print).
    1987—Top Hits
Heaven is a Place on Earth - Belinda Carlisle
Faith - George Michael
Should've Known Better - Richard Marx
Somebody Lied - Ricky Van Shelton
    1988 - Chicago's "Look Away" was the #1 single in the U.S. It was one of three top-ten hits from the "Chicago 19" album (the others were "I Don't Wanna Live Without Your Love" and "You're Not Alone").
    1988--Bill Champlin's vocals helped Chicago attain their third and final number one single when "Look Away" hit the top of the Billboard chart. It was one of three Top Ten hits from the "Chicago 19" album, along with "I Don't Wanna Live Without Your Love" and "You're Not Alone".
    1989 — Seattle wide receiver Steve Largent makes his NFL record 100th touchdown catch in the Seahawks' 24-17 win at Cincinnati.
    1989 - Heavy snow fell across the northern and central mountains of Colorado, with 24 inches reported at Steamboat Springs. Six to twelve inches of snow fell in the Denver and Boulder area delaying plane flights and snarling traffic. Heavy snow also spread across the Central Plains into the Mississippi Valley. Winner SD received 11 inches of snow, and more than ten inches of snow was reported north of Sioux City IA. 
    1991 - The U.S. Supreme Court struck down New York's "Son of Sam Law" that forced criminals' profits for selling their stories to be seized and given to their victims. The High Court held that the New York law was inconsistent with the First Amendment to the U.S. Constitution.
    1991 - Alan Freed, the disc jockey credited with giving ‘Rock and Roll' its name, was posthumously awarded a star on the Hollywood Walk of Fame. (Freed died Jan 20, 1965.)
    1992 - A slow-moving Nor'easter storm batters the northeast U.S. coast killing 19 people. 
    1993—Top Hits
Again- Janet Jackson
I'd Do Anything For Love (But I Won't Do That)- Meat Loaf
All That She Wants- Ace Of Base
Hero- Mariah Carey
Shoop- Salt-N-Pepa
    1994 - Kenny G's "Miracles: The Holiday Album" was number one in the U.S. It became the best selling Christmas album in history, selling over 8 million albums as of 2000. The tracks: "Winter Wonderland", "White Christmas", "Have Yourself a Merry Little Christmas", "Silent Night", "Greensleeves", "Miracles", "Little Drummer Boy", "The Chanukah Song", "Silver Bells", "Away in a Manger" and "Brahms Lullaby".
    1995-- Worst snowstorm in Buffalo history, 37.9" in 24 hours (Starting Dec 9 at 7 PM, breaks previous record of 25.3" in 1982). December 26-29, 2001,they get 80 inches of snow.
http://www.cybervox.org/archive/stormreports/
200111-200112/0052.html
    1998- After 24 years and 1,071 appearances, Dennis Eckersley, 44, who has pitched in more major league games than any other player retires as an active player.
    1998-Top Hits
I m Your Angel- R. Kelly
>Nobody s Supposed To Be Here- Deborah Cox
Lately- Divine
Doo Wop (That Thing)- Lauryn Hill
    2008-The Associated Press reported that the US military used loud music to "create fear, disorient...and prolong capture shock" for prisoners at military detention centers at Guantanamo Bay, Cuba. Among the songs blasted 24 hours a day were "Born In The USA" by Bruce Springsteen, "Hell's Bells" by AC/DC, "White America" by Eminem, "The Theme From Sesame Street" and "I Love You" from the Barney and Friends children's TV show.


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Top Stories

(chronological order)


- Colford Capital Acquires Equilease Financial Services
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   Bulletin Board Complaint
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   Bulletin Board Complaint
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    re: Digital device/Laptop Lost or Stolen!
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    Truck Lenders Group/TruckLendersUSA
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  Changes since July 6, 2012
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   by Christopher Menkin, Editor
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   Bulletin Board Complaint ---From Bob Robichaud, CLP
- IFC Credit Trustee, Northfield, Illinois
   Bulletin Board Complaint
- Mazuma and Republic Bank Get Snared on PRR Provision
   by Tom McCurnin, Esq.
- Companies who utilize Evergreen Clauses for Extra Lease Payments
- "The Memory Shock"
   by Barry Reitman
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- Jeff Taylor's Leasing Predictions, Spring, 2006
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- The Top 50 Restaurant Franchise Brands
- Radiance Capital, Tacoma, Washington
   Bulletin Board Complaint
   Purchase Option on EFA, Won’t Return $5,000 S.D.
- New Case against Mazuma Capital and Republic Bank
  ---Automatic Evergreen Payment---PPR
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- Lessor Escapes NY Evergreen Clause Class Action
- Proposed Changes in Lease Accounting
   Lease Project Pain Part of Larger Frustrations
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    as it reports lower 2nd Q earnings
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   ---re: Marlin Bulletin Board Complaint
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BBB Ratings, July, 2012
Alexa Rating---Leasing News #1
Ladco Leasing/Elavon Fined $418,601
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- Future of Mobile Devices
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- Why I became a CLP
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