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Equipment Leasing
Documentation Manager
Walnut Creek, CA
Manage all aspects of the lease documentation unit. Requires a BA/BS; 7+ years of leasing and contract experience; Click here for detailed description & resume submission info.
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Monday, December 5, 2005
Headlines---
Classified Ads---Sales Manager
"Broker/Lessor"--Roseanne Wilson-Number #1
15,000 Funders---List has “14”
Cartoon---
Top Stories---November 29---December 2
Readers Comment: Paul Menzel, CLP
Special Offer for Readers---
Classified Ads---Help Wanted
Lessors Face Challenges to True Lease Transactions
Kelly Sellers Joins SFBI Professional Recruiting
GATX Announces Planned Aircraft Sales
News Briefs---
You May Have Missed---
Sports Briefs---
"Gimme that Wine"
Today's Top Event in History
This Day in American History
American Football Poem
######## surrounding the article denotes it is a “press release”
Classified Ads---Sales Manager
Atlanta, GA
30 years in transportation Finance with strong management/ sales background. Represented company on national & region markets. Started two successful operations- produce profits and growth.
Email: pml@mindspring.com
Austin, TX
Seeking Sales/Sales Manager role with a DIRECT LENDER. Medical, IT, Government. Can travel.
Email: tfmsinc@yahoo.com
Chicago, IL.
Successful sales manager has 15 years experience with captives and independents. Expertise in re-energizing existing sales teams and territories, also building teams from scratch. True Team Leader looking for new challenge.
email: Murph5553@aol.com
Chicago, IL
Senior sales manager seeks Chicago based sales management role with growing, creative, customer focused lessor. Extensive experience/documented results in all aspects of information technology leasing.
Email: belanger@dataflo.net
Dallas/Fort Worth, TX.
Domestic-int'l exp. Small to middle ticket. 24 yrs with Fortune 500 firms(2). Consistently achieves margin/ volume goals.
Email: dptr7300@sbcglobal.net
Marlton, NJ
25 years exper. Promoted to sales manager after attaining highest percentage of quota for 2 years. Increased business by 50% over two years as sales manager.
Email: Sjgaul@aol.com
New York, NY
I have over 25 years owning an independent leasing company that specialized in truck leasing. Tow trucks, Limos, ambulances, tractors, etc..
Email: rfleisher@rsrcapital.com
Pennsauken, NJ.
17 Years leasing in all capacities from CSR and Collections to National Sales Management and Vice President Vendor Development. Exceptional People Skills. Many industry references.
email: cherfurth1@aol.com
Portland, OR.
18+ yrs w/bank leasing company. Supervised 14- 20 sales people. Willing to relocate for the proper position.
Email: pthygeson@netscape.net
Scottsdale, AZ
Have successfully built or rebuilt 3 national sales forces in 3 different industry niches. Strong credit and operations background compliment overall experience. Strong industry references.
Email: azlessor@cox.net
For a full listing of all “job wanted” ads, please go to:
http://64.125.68.91/AL/LeasingNews/JobPostings.htm
To place a free “job wanted” ad, please go to:
http://64.125.68.91/AL/LeasingNews/PostingForm.asp
[headlines]
--------------------------------------------------------------
Rosanne Wilson, CLP, Number One "Broker/Lessor"
“Broker/Lessor” List
Third Column: YES - Year Company Started | YELB - Years in equipment Leasing Business
A - City Business License | B- State License | C - Certified Leasing Professional |
D - State(s) sales/use tax license |
E - Named as "lessor" on 50% or more of lease contract signed. |
Rank |
Name
City, State
Contact
Website
Leasing Association |
YES
YELB
(see above for meaning) |
# of Empl. |
Geographic Area |
Minimum
Dollar
Amount |
Service Organization |
|
|
|
D |
|
1 |
|
1990
20 |
2 |
Nationwide |
$2,000 |
NAELB, BBB,
CLP Fundation, Beaverton Chamber of
Commerce, & Who's Who in Bus. Leaders |
Y |
Y |
Y |
N |
N |
Here is the start of our new list: “Broker/Lessor”
“Broker/Lessor” List
(for “Funder,” please click here
for funders specializing in “Story Credits, “ please click here
for “Super Broker/Lessors,” who primarily place leases, click here )
There are an estimated 5000 companies who process applications to present to a third party, who often make the final approval and “fund” the transaction with a standard “representation and warranty” provision. These companies are similar to an insurance agency or mortgage firm. Size may very from a single person to a national multi-office operation.
Some in this category may select transactions for a private portfolio from their own cash or bank lines, which they fund direct. 50% or more of their business is as a “Broker/Lessor.” Often their clients are primarily in a specific industry, service or geographic area. Many also market directly to potential lessees, rather than be referred by a seller of equipment.
There is no advertising fee or charge for a listing. They are “free.” Leasing News makes no endorsement of any of the companies listed, except they have a satisfactory Better Business Bureau report, and no unresolved complaint at Leasing News from an applicant or company involved in the equipment leasing industry. Leasing News reserves the right not to list any company who requests to be listed.
Companies, who act as a funder in over 50% of their business, servicing their own portfolio, are listed in the “Funder” list. “Story Credit” are funders who have a niche market, often requiring the “story” of the company to make a credit decision. Often their rates are higher as the credits are consider a “higher risk” than standard for the dollar amount involved. A “Super Broker/Lessor” rarely considers business direct, but work on referrals from a “Broker/Lessor,” funders, and, financial groups, manufacturers, and others who cannot fit the transaction into their criteria.
( To apply to be listed, please fill in this form and fax to 408.374.3843)
“Broker/Lessor” Form
Third Column: YES - Year Company Started | YELB - Years in equipment Leasing Business
A - City Business License | B- State License | C - Certified Leasing Professional |
D - State(s) sales/use tax license |
E - Named as "lessor" on 50% or more of lease contract signed. |
Rank |
Name
City, State
Contact
Website
Leasing Association |
YES
YELB
(see above for meaning) |
# of Empl. |
Geographic Area |
Minimum
Dollar
Amount |
Service Organization |
|
|
|
D |
|
1 |
|
1990
20 |
2 |
Nationwide |
$2,000 |
NAELB, BBB,
CLP Fundation, Beaverton Chamber of
Commerce, & Who's Who in Bus. Leaders |
Y |
Y |
Y |
N |
N |
[headlines]
--------------------------------------------------------------
15,000 Funders---List has “14”
( for funders specializing in “Story Credits, “ please click here
for “Super Broker/Lessors,” who primarily place leases, click here )
There is no advertising fee or charge for a listing. They are “free.”Leasing News makes no endorsement of any of the companies listed, except they have qualified to be on this specific list.
There are an estimated 15,000 "funders" of leases in the the United States, including 7,640 FDIC insured banks, 1,226 FDIC insured Savings & Loans, and related companies such as corporations such in the business of insurance, investments, financial groups, and manufacturing. Many establish a minimum dollar amount, creating a line of credit ( portfolio) and specific requirements, accepting business both from a "broker/lessor" or "super broker/lessor" with "representations and warranties" or other "recourse" arrangements.
To qualify for this list, the company must be a "funder" and not a "Broker/Lessor" or "Super Broker/Lessor", along with an acceptable Better Business Bureau Rating and no history of complaints at Leasing News. The company may sell off its portfolio from time to time, but the definition is for a company or financial institution where 50% or more of its business is from actually "funding" transactions themselves. Leasing News reserves the right to not list a company who does not meet these qualifications.
We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is very much encouraged.
( To apply to be listed, please fill in this form and fax to 408.374.3843)
Funder Form
A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen
Rank |
Name
In Business Since
Contact
Website
Leasing Association |
Employees |
Geo
Area |
Dollar
Amount |
Equipment Restrictions |
A |
B |
C |
D |
E |
1 |
TCF Equipment Finance
11100 Wayzata Blvd., Ste 800
Minnetonka, MN 55305
800-247-4011
800-247-4018 - Fax
1999
Kathie Shuman, ext 22
kshuman@tcfef.com
Patty Weaver, ext 24
pweaver@tcfef.com
ELA, NAELB (D) |
190 |
Nationwide |
$10,000 + |
Please Contact Rep. |
Y |
Y
in
CA |
N |
Y |
Y |
2 |
|
136 |
US except: Alaska, Arkansas & Louisiana |
$5,000 - $250,000 |
See comments |
Y |
Y |
Y |
Y |
Y |
3 |
NetBank Business Finance
1988
Rich Viola
800-669-0222 ext. 8225
Fax 800-669-8102
rviola@netbankbusinessfinance.com
www.netbankbusinessfinance.com
EAEL, ELA, NAELB, UAEL (E)
|
70 |
the contiguous US minus VT |
$5,000 to $1,000,000 |
Please visit out website for this information. |
Y |
Y
in
CA & NC |
Y/N |
Y |
N |
4 |
Commonwealth Capital Corp.
1978
Rich Baker
727-938-5933
www.ccclease.com
ELA (N) |
50+ |
United States |
$10,000 - $750,000 per schedule
|
IT and Medical - Please contact |
Y |
Y |
N |
Y |
N |
4 |
|
50 |
Nationwide |
$20,000 - $500,000
Average Transaction
$75,000 - $100,00
|
Please see our website for detailed information on the types of equipement we fund. |
Y |
N |
Y |
Y* |
Y** |
5 |
|
45 |
National (U.S.) lender |
$25,000 - $1Million
(typically $100,000 - $350,000) |
post-production, mining, aircraft, vessels, gaming, ATMs, tanning |
Y |
N |
N |
Y |
Y |
6 |
Madison Capital
1997 (formed by merger of Harbor Leasing, started 1983, & Fox Valley Leasing, started 1974)
Nancy Pistorio, VP 410-653-6269 ext. 125
npistorio@madisoncapital.com or Allen Levine, COO 410-653-6269 ext. 117 alevine@madisoncapital.com
www.madisoncapital.com
EAEL ,ELA, NAELB, NVLA (F)
|
27 |
U.S., Canada, Puerto Rico |
$5,000 to $450,000, Vehicles: Unlimited |
Tanning beds, owner operators, HVAC, restaurant hoods, boats |
Y |
N |
N |
Y |
Y |
7 |
Pioneer Capital Corporation
(A wholly-owned subsidiary of IFC Credit Corporation)
1983
John Boettingheimer VP/General Manager
800.521.1308
www.PioneerFunding.com
NAELB, UAEL (A) |
20 |
50 U.S. States |
$5,000 minimum (no maximum) |
ATM , aircraft, energy management, livestock, tanning, copiers, vending, website development.
For more visit our website. |
Y |
N |
N |
Y |
N |
8 |
ICB Leasing Corp.,
2004 (Our parent, Independence Community Bank, was established
in 1850.)
Ira Romoff at 212-209-9177,
e-mail: iromoff@icbny.com or
Jean Cutting at 212-209-9178
e-mail: jcutting@icbny.com
EAEL, ELA (G) |
17 |
Nationwide |
$75,000 to $5 million |
No aircarft or marine vessels |
Y |
Y |
N |
Y |
Y |
9 |
|
10 |
Nationwide |
$20,000 - $150,000 |
Generally hard assets but call if vendor program |
Y |
N |
N |
Y |
Y |
10 |
|
10 |
11 Western State |
$10,000.00 - $250,000.00 |
None. We fund in case by case basis. |
Y |
Y |
N |
N |
Y |
11 |
|
8 |
National |
$10,000 - $150,000; average $50,000
|
(O) |
Y |
Y |
Y |
Y |
N |
12 |
Allco Leasing, a division of LEAF Financial Corporation
1969
Brad Christensen
bchristensen@allcoleasing.com
Tel.: 800.929.9041
Fax: 503-684-9617
NAELB, UAEL (K)
|
5 |
Nationwide |
$100,000 to $2,000,000 |
Aircraft, marine, sun tanning, owner/ operator |
Y |
N |
Y |
Y |
N |
13 |
|
5 |
Northern California |
$5K - $500K |
Standard |
Y |
N |
Y |
N |
Y |
14
|
|
5 in leasing department
(50 in bank division) |
48 States |
$15,000 - 1.8 million
Typically
$100,000 - 1.8 million
|
Aircraft, marine, over the road trucks and trailers, restaurants |
Y |
N |
N |
N |
N |
(A) Pioneer Capital originates all it's paper from brokers - 100%. Pioneer is a full service funding company that holds 100% of its transactions internally. We have over $150 million in small ticket leasing lines. We offer "A", "B" and in some circumstances "C+" credit coverage. We also offer franchise, medical, and new business leasing programs. Accepts Broker Business - to apply for to http://www.pioneerfunding.com/becomebroker.html. Private Label Program - Pioneer offers private label documents and discounting programs to eligible brokers.
(B) BWC Equipment Leasing only funds deals in Northern California. Sub-broker accepted only is disclosed up-front. Broker must sign "Representation and Warranty" broker agreement.
(C) Dolsen Leasing, see our Broker Application at www.dolsenleasing.com . While we do not require brokers to be licensed, we do a background check on all prospective brokers. While we have both inside and outside sales people, we are always open to expanding our broker network.
(D) TFC Equipment Finance is a wholly owned subsidiary of TCF National Bank (TCF). TCF is a subsidiary of TCF Financial Corporation.
TCF Financial Corporation (TCF) is a $12 billion national financial services holding company. TCF trades on the NYSE under the symbol TCB.
(E) NetBank Business Finance accepts sub-brokered transactions only from a select, pre-approved group of broker/lessors. NBF is a wholly owned subsidiary of NetBank, Inc. and will occasionally accept lease and loan referrals from other NetBank companies.
(F) Madison Capital - Broker should be in business at least 2 years. Private Label program requires six months positive experience working with them; and only after the 6 month term we offer the brokers or discounter a contract that allows them to put their name on it, primarily for marketing purposes. We originate business through both direct sales and indirect sales. However, we offer broker protection and are extremely vigilant about it. One clarification. We do offer financing to restaurants, but not for their exhaust hoods, an item we are frequently asked about.
(G) ICB Leasing - Business is conducted only with approved brokers. In addition, Brokers must not only be approved by ICB but licensed where appropriate. We will permit use of ICB Leasing Corp. lease docs in approved originators name and purchase/take assignment of lease.
(H) Balboa Capital:
A - Accepts broker business
B - request appropriate state licenses be obtained.
C - No sub broker allowed without written consent.
D - Broker can be listed as Lessor, receive advance payments, and assign to Balboa. Balboa pays the vendor.
E - Balboa has a large internal sales force that solicits directly to the end user. Broker customers are excluded from any calling list and our Broker Agreement specifically states your accounts will not be solicited while a customer of Balboa.
| Restricted Equipment: |
| All roof top equipment |
Amusement Park/Carnival |
Artwork |
| ATM's |
Aircraft |
Auto phone dialers |
| Used copier and computers |
Canopy's |
Portable Bldg. |
| Energy management |
Fencing |
Fixtures |
| Water coolers |
Invasive medical |
Livestock |
| Molds |
Environmental hazardous |
Pay phones |
| Satellite dishes |
Signs |
Spray booths (EPA certificate is required) |
| Truck scales |
Underground tanks |
School buses |
| Gaming |
|
|
(I) BUTLER CAPITAL – For nearly three decades, Butler has purchased loans and leases – individually or in portfolios – from lessors and brokers nationally. Butler 's inclusion in the 2005 edition of the “Monitor 100” underscores the firm's commitment to funding deals quickly, structuring deals professionally, and avoiding the limitations of app-only credit scoring. As a direct lender with wholesale lines of credit ready to be tapped for our broker/lessor clients, we pride ourselves on common-sense, individualized credit decisions on a wide variety of equipment. We invite no-obligation calls! Butler does not require brokers be licensed except those in states that require such licensing. We welcome both opportunities to fund brokers' transactions under our name or create private-label programs to enable brokers to market their own services more broadly. Although Butler has in-house sales personnel, we do not solicit the customers of our broker/lessor clients; rather, we work to preserve and enhance a broker's relationship with his/her customer.
(J) American Bank Leasing provides fast responses and high touch service for small ticket transactions. Our online system provides “almost instant” approvals up to $100,000 and the ability for you and your vendor to view transaction status. Our experienced staff is empowered to use a common sense approach to lending. Private label program reserved for our top producing partners.
(K) Allco Leasing was purchased in April 2005 by LEAF Financial Corporation, a wholly-owned subsidiary of Resource America Corporation (NASDAQ: REXI). Allco Leasing provides a middle market leasing product for LEAF. We are not collateral oriented and are industry generalists. Allco specializes in rapid responses to difficult to understand credits operating within the “A- to B+“ arena. Startups are considered with experienced management and strong guarantors.
(L) SunBridge Capital is a direct funding source. We specialize in commercial equipment such as construction equipment, work trucks, titled vehicles and more. Because we understand the value of the assets we fund, we are able to approve a wider range of customers than most other lenders, and deliver approvals in one business day or less.
We are committed to providing unprecedented sales tools to the Broker community. We give you the flexibility and control that you need to best serve your customers and to realize your business goals. This includes our on-line broker financing application at
www.sunbridgecapital.com/apply . Approvals are delivered as parameters, which allows our brokers to structure the most appropriate deal for their customers and increases their likelihood of closing.
*We are in the process of developing our private label program. Some documents can be customized for our regular brokers.
**We work direct with vendors who prefer to do business with a direct funding source; and those with whom we have a long standing relationship. We will never attempt to develop a vendor relationship as a result of information obtained from one of our brokers.
(M) Centennial Bank - Prompt service, quick review, new & use equipment. No outside sales force - "Brokers Preferred." Brokers must be approved.
(N) Commonwealth Capital Corporation does not directly originate, we do not compete with Lessors. We only buy deals from Lessors.
(O) Enterprise Funding equipment restrictions:
Airplanes/Marine
Petroleum/Fuel Handling Equipment
ATM Machines
Signs
Satellite dishes
Software-only
Tanning Beds
Home Health Equipment
L easehold Improvements
Alarms/security
Vending equipment
Owner/operator truckers are restricted to strong credits.
Lease agreement resulting in service provided by the vendor.
[headlines]
--------------------------------------------------------------
[headlines]
--------------------------------------------------------------
Top Stories---November 29---December 2
These are the top ten stories most "opened" by readers last week.
(1) Paul Menzel, CLP: FTC Investigation of NorVergence Funders
http://www.leasingnews.org/archives/November%202005/11-30-05.htm#clp
(2) Sales Salaries in Atlanta as Compared to the rest of the United States
http://www.leasingnews.org/archives/December%202005/12-02-05.htm#atlanta
(3) Sales makes it Happen--- “Morale Buster”
http://www.leasingnews.org/archives/November%202005/11-30-05.htm#sales
(4) IFC Credit/PFF Bancorp NorVergence Lease Connection
http://www.leasingnews.org/archives/November%202005/11-29-05.htm#ifc
(5) IRA Z. ROMOFF Monthly Report
http://www.leasingnews.org/archives/December%202005/12-02-05.htm#ira
(6) CIT Expresses Sympathy on Death of Board Member William A. Farlinger
http://www.leasingnews.org/archives/December%202005/12-02-05.htm#cit
(7) Resource America's LEAF Financial Corporation Names New Senior Vice President of Investment Programs
http://www.leasingnews.org/archives/November%202005/11-29-05.htm#leaf
(8) Whatever Happened to...Mike Berke
http://www.leasingnews.org/archives/November%202005/11-30-05.htm#mike
(9) New List “Under Construction”-- “Broker/Lessor”
http://www.leasingnews.org/archives/November%202005/11-29-05.htm#broker
(10) Weekly Bulletin Board Complaints
http://www.leasingnews.org/archives/December%202005/12-02-05.htm#bbc
[headlines]
--------------------------------------------------------------
Readers Comment: Paul Menzel, CLP
Here are readers comments regarding Paul Menzel, CLP,
Senior Vice President, Community Lending Group, Pacific Capital Bancorp, November 30,2005
e-mail:
http://www.leasingnews.org/archives/November%202005/11-30-05.htm#clp
“The story about the FTC investigation of deceptive practices in the small ticket leasing segment should be given serious consideration by all in our industry. NorVergence has exposed the leasing industry to more regulatory scrutiny than in the past.
” Although there is plenty of blame to spread around to all parties concerned, not the least of which is the fraudulent but now bankrupt vendor, the Enron motivated demand for transparency in transactions has arrived at our shore. It is imperative that we rise to the challenge and self regulate our practices to meet the highest of ethical standards.
“The leasing industry is good for the US economy and has provided a good living for those of us who participate in it. Let's not allow greedy practices by a few ruin it for the vast professional and ethical majority.”
None of the people listed originally, and asked to make a comment responded, although none of the companies have a NorVergence lease, to our knowledge. Mr. Menzel's e-mail centered around Leasing News Editorial, which did not single out any specific company, and was in fact, addressed to the entire equipment leasing industry, as Mr. Menzel's comments were also addressed.
Leasing News chose other “leaders” who were specifically not involved with NorVergence leases for a comment. We also had direct inside information from several of them that they also were approached by NorVergence, but saw the potential problems, had great reservations, even though it was pointed out the colleagues who had purchased the “Equipment Rental Agreements” they were offering at very good yields for especially very good credits.
They did not respond:
Patrick Byrne, Balboa Capital
Dwight Galloway, Netbank
Terey Jennings, Financial Pacific
Don Meyerson, BSB Leasing
Jerry Newell, Bank of the West
Ira Romoff, ICB Leasing
Gary Shivers, Marlin Leasing
Kathie Shuman, TCF Financial
Leasing News did hear from:
Doug Olson,
Executive Vice President
GreatAmerica Leasing Corporation
“Our company has been a very active supporter of the Equipment Leasing Association for the past 15 years, with various members of our senior leadership team serving as committee members, committee chairpersons and a past board member. In each of these roles we continuously support the principles of ethics and integrity within our industry. We elected not to participate in the Norvergence financing program for various reasons, but recognizing long ago when lease volume is easily obtainable, look out. I couldn't agree more with Paul Menzel's comments that our industry has provided a good living for many us employed in leasing and continued unethical practices could invite government regulation, which as we all know causes more bureaucracy and expense to our industry.
“As a company that participates in the small ticket leasing segment we continually see and hear of practices that in our belief are questionable at best. Unfortunately, these practices are not necessarily carried out by only smaller lease companies, but in some instances can be found within larger companies as well. When the "fine print" within a lease agreement continues to surprise lessees, something is wrong. We all understand the fact it is the lessee's responsibility to review the lease before signing, but as we all know most do not take the time and rely upon what they believe to be a straight-forward transaction. Competition has become so intense in certain segments of small ticket leasing that pricing has become irrational in many circumstances. In order to compensate for this, some leasing companies have been forced to resort to finding other ways to make-up the income. When this causes too many surprises for lessees, it may bring on unwanted regulation. Whatever happened to the adage "a fair day's work for a fair day's pay"?
“This is a very good industry which plays an important role in our economy. How we choose to conduct ourselves may have important future implications to our industry. I would ask everyone to seriously exam their practices and ask the question -- how many phone calls do we get from a lessee who is surprised by what we are asking them to do?”
----------------
Leo Timmerman
Timmerman Leasing Inc.
“I agree with Paul, This industry has been very good to me and my family. It has provided a country boy from Iowa, with no formal education except high school, a means to educate 4 children, and a life style that has been very rewarding. Now my wife and I are semi-retired and enjoying everyday to the fullest. Today I turned 67, it has been a great ride. Thanks to the Industry that provided the vehicle for all this. Once we owned 2 companies, one being a super broker and the other vendor /direct, never having a BBB complaint, or a filed complaint, this proves it can be done and you can be successful doing it the old fashion way. Too bad we have to have a few bad apples spoil the entire orchard. Don't put money ahead of success. You can have anything you want if you help enough people get what they want first. Then you will have success. “
--------------
Dale Kluga
President
Cobra Capital LLC
“Regulation is about protecting individuals. To the extent our great politicians and the FTC interpret the Norvergence scam as harming individuals versus businesses, we have a very serious problem in our industry. Sorry - I need to correct that I should say - those of us operating in a non-regulated business have a very serious problem. On the other hand, the primary benefactors of any regulation in our business will be the regulated finance companies and banks who, if they so choose, could completely eliminate the independent leasing company by simply doing one thing. Funding lobbyists. A well funded lobbyist could sponsor a regulatory bill that would make it cost prohibitive for an independent lessor to operate in this business. It seems with every new industry debacle this nightmare fantasy of regulation inches closer and closer to reality.
“Materiality is not a concept politicians and the FTC are motivated to follow. The truth is that politicians and the FTC are motivated by emotion not logic. The politicians and the FTC don't care if our industry contributes more to our country's GDP than the collective cost of all of our industry debacles. That fact is viewed by them only as a distraction from their primary goal.
“The Norvergence debacle is another novel waiting to be written. Having spent over half of my 24 year finance career in banking with both Continental Bank (now part of B of A) and ABN LaSalle I am intimately aware of how regulation can strangle a business. Unfortunately, regulation is rarely proactive and always seems entirely reactive and often times forces unwise business decisions for the sake of compliance over making a sound business decision. However, in the case of protecting consumer rights, regulation can be a very good thing.
“Who should bear the cost of truly egregious business practices, the perpetrator or the industry? The problem is that the vast majority of perpetrators never pay the price mostly due to our own wonderful bankruptcy laws that protect even the worst scam artist from fully compensating those they have harmed.
“It is partly our own laws that protect the violator that will inevitably force the politicians and the FTC to throw up their hands and force the cost on the industry. Even politicians and agents of the federal government battle with the same laws they help create.”
---------
From a NorVergence Lessee,
Jody Nichilo
“ I just want to say that I have several leases with some of the other companies attached to the Norvergence fiasco, and have never had a problem with any of them. What would we do without leasing companies to help small businesses with the ongoing cost of office equipment, etc., etc? I don't blame the leasing companies for anything other than not performing due diligence prior to getting in bed with Norvergence. Most of what I've read from your ongoing emails about the leasing industry is all good. It's a shame that a few bad apples have to spoil the whole bunch!”
(For the record, Leasing News from the very beginning, in www.leasingnews.org, and all the listserves and blogs, has urged all NorVergence Lessees, often, many,many times, to continue to make their leasing payments to protect their good credit, to let the courts or authorities make final decisions, and to honor their lease contracts whether they believe the company who purchased the lease contracts knew or did not know about the service provisions dependent on making the Matrix box have any value.
When the Federal Trade Commission and twenty-three states attorneys generals plus the District of Columbia obtained brought litigation, and in most cases, settlements in behalf of NorVergence lessees against many of the large funders, such as GE Capital, Wells Fargo, CIT, USbancorp, Leasing News continued to highly recommend all NorVergence lessees continue to make their lease payments. In our editorials, we did make a stand, recognizing it was the better business decision to settle the matter than to fight the politics and adverse publicity because the lessor did not perform better due diligence. I think GE Capital, Wells Fargo, CIT, USbancorp, to name a few, got to this point before we did, which we congratulate them, and encourage the rest of the industry to follow their leadership and business acumen. editor)
[headlines]
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Special Offer for Readers---
This is an excellent Christmas present for a leasing professional.
We also recommend this as a New Year's gift for larger companies for managers and key staff people. A volume discount is available.
[headlines]
--------------------------------------------------------------
Classified Ads---Help Wanted
Documentation Manager
|
Equipment Leasing
Documentation Manager
Walnut Creek, CA
Manage all aspects of the lease documentation unit. Requires a BA/BS; 7+ years of leasing and contract experience; Click here for detailed description & resume submission info.
|
|
Equipment Finance & Leasing Representative
|
Job opening in New England
In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout New England. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at www.mandtbank.com and view posting 5245.
At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!
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Job opening in
Baltimore/Virginia Region
In this position, you will develop and maintain relationships with lease brokers, leasing companies, equipment vendors and direct lessees throughout Baltimore/Virginia Region. Must be knowledgeable in indirect/third party transactions ranging from $15K and up and have in-market experience. Please apply on-line at www.mandtbank.com and view posting 5245
At M&T Bank, we provide an exciting and challenging work environment where performance and innovative thinking are encouraged and rewarded at every level.
With over 700 branches, your career can travel as far as you want to take it!
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Senior Funding Manager
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Equipment Leasing
Senior Funding Manager
Portsmouth, NH
If you have a minimum of 4 years experience in Credit and Funding in the Leasing industry we'd like to speak with you. For more information, please contact Chuck at cbizier@directcapital.com
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[headlines]
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Lessors Face Persistent Challenges to True Lease Transactions
ELTnews
( Free report—written by “Business News” editor David G. Mayer, also author of “Leasing for Dummies. editor)
For the first time in its 23-year history, the Journal of Equipment Lease Financing has published a supplement to its regular issue. "True Leases Under Attack," authored by David G. Mayer, addresses the growing concern about structuring lease transactions so they are clearly defensible as true leases.
For the foreseeable future, lessors will continue to face these persistent true lease challenges. Thus, despite business pressure to win deals, lessors can and should mitigate the risk of these challenges by structuring true lease transactions in a manner consistent with prevailing law and court precedent. The intent of this article is to demonstrate how lessors might accomplish that.
The "True Leases Under Attack" article is 26 pages in PDF format:
http://leasingnews.org/PDF/ELFF_SpecialIssue_Fall05.pdf
Journal subscriptions are also available.
For information on the Foundation visit www.Leasefoundation.org
[headlines]
### Press Release ###########################
Mr. Kelly Sellers Joins SFBI Professional Recruiting
SFBI Professional Recruiting INC. of Atlanta GA, has announced Mr. Kelly Sellers as Managing Director of New Business Development for the Temporary and Permanent Placement Divisions. Mr. Sellers comes to SFBI with 20 years of experience in financial services. He has held positions such as:
Controller RTM Restaurant Group, Inc. (Franchisee of 750+ Arby's restaurants - $900MM revenues & 105 Mrs. Winner's)
Chief Financial Officer/Treasurer Tacala, Inc. (Franchisee of 210 Taco Bell, Pizza Hut, and KFC restaurants-$165MM revenues)
Director of Financial Analysis / Assistant Treasurer / Controller / Accounting Manager for TPI Restaurants, Inc. (Franchisee of 188 Shoney's and 68 Captain D's restaurants-$275MM revenues)
Mr. Sellers is a graduate of Auburn U and a CPA.
Fred St Laurent, CEO of SFBI “We are thrilled to have recruited Kelly Sellers to our firm. He brings a depth of experience in finance that we require to be more effective in our marketing and recruiting efforts in the financial services marketplace.”
Fred St Laurent
CEO and President
SFBI Professional Recruiting
Phone: 678.455.5700 ext 214
Fax: 678.623.8283
Email: Fred@sfbirecruiter.com
"Impacting Companies one person at a time."
Website: http://www.sfbirecruiter.com/
Member of ELA
Member of NAELB
Member ot UAEL
Member of the Leasing News Advisory Board
http://www.leasingnews.org/Advisory%20Board/Fred_St_Laurent.htm
[headlines]
### Press Release ###########################
GATX Announces Planned Aircraft Sales
CHICAGO----GATX Corporation (NYSE:GMT):
-- Focus on remaining portfolio of newer aircraft and management initiatives
-- Expects to reduce net book value of aircraft portfolio by $450 million
-- Anticipates charges in 4Q 2005
GATX Corporation (NYSE:GMT) today announced a plan to focus its aircraft leasing portfolio around its newer, more profitable aircraft. As part of this plan, GATX announced its intent to sell up to $450 million of older aircraft assets (including wholly owned and joint venture aircraft), or approximately 23% of its current air portfolio.
In conjunction with this plan, GATX anticipates reporting after-tax, non-cash charges in the range of $110-$130 million in the fourth quarter of 2005. Sales of targeted aircraft are expected to be substantially complete by the end of 2006. Incremental gains or losses may occur as aircraft sales are completed.
Brian A. Kenney, chairman and chief executive officer, stated, "Focusing our owned portfolio on the newer aircraft will reduce earnings volatility and allow us to allocate more resources to our aircraft management initiatives. This strategy will improve GATX's overall asset quality, increase our risk-adjusted returns, and positively impact earnings in our aircraft leasing business. Additionally, the after-tax charges will have no material impact on our leverage and our balance sheet remains strong."
The after-tax charge associated with this plan to sell aircraft was not included in the Company's previously announced 2005 GAAP earnings guidance of $1.90 - $2.10 per diluted share.
COMPANY DESCRIPTION
GATX Corporation (NYSE:GMT) provides lease financing and related services to customers operating rail, air, marine and other targeted assets. GATX is a leader in leasing transportation assets and controls one of the largest railcar fleets in the world. Applying over a century of operating experience and strong market and asset expertise, GATX provides quality assets and services to customers worldwide. GATX has been headquartered in Chicago, IL since its founding in 1898 and has traded on the New York Stock Exchange since 1916. For more information, visit the Company's website at www.gatx.com.
Investor, corporate, financial, historical financial, photographic and news release information may be found at www.gatx.com.
CONTACT:
GATX Corporation
Rhonda S. Johnson, 312-621-6262
rhonda.johnson@gatx.com
[headlines]
### Press Release ###########################
---------------------------------------------------------------
News Briefs----
Old Way of Doing Business Will Not Work Anymore For Fannie Mae, Freddie Mac
http://www.washingtonpost.com/wp-dyn/content/article/2005/12/04/AR2005120400728.html
Economic forecasters are all but unanimous in predicting that the coming year will not bring a recession. It isn't so clear whether that forecast has any meaning.
http://www.nytimes.com/pages/business/index.html
Luxury retailers concerned High-end shoppers likely to pull bac
http://www.usatoday.com/money/industries/retail/2005-12-04-luxury-stores_x.htm
Ex - Sept. 11 Commissioners: U.S. at Risk
http://www.nytimes.com/aponline/national/AP-Sept-11-Commission.html
[headlines]
---------------------------------------------------------------
You May Have Missed
The tall and the short of why caffeine works
http://www.chicagotribune.com/technology/chi-0512010176dec01,1,3307581.story?
coll=chi-news-hed
[headlines]
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Sports Briefs----
The Bears beat the Packers here for the first time since '93.
http://www.chicagotribune.com/sports/football/bears/cs-051204bearsgamer,1,7518565.
story?coll=chi-news-hed&ctrack=1&cset=true
Redskins Trounce Rams, 24-9
http://www.washingtonpost.com/wp-dyn/content/article/2005/12/04/AR2005120400470.html
With a Sometimes Shaky Grip, the Giants Latch Onto First Place
http://www.nytimes.com/2005/12/05/sports/football/05giants.html?adxnnl=1&adxnnlx=
1133769563-6rWyDnW8SFvZI1SLHEo4LQ
Patriots 16, Jets 3
http://www.boston.com/sports/football/patriots/articles/2005/12/04/
patriots_down_woeful_jets_16_3/
Cowboys stall in cold
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/
120505dnspocowlede.69b3173.html
Shut down in Charlotte
http://www.ajc.com/sports/content/sports/index.html
Vikings 21, Lions 16
http://www.twincities.com/mld/twincities/sports/football/
Chargers eat up clock – and Raiders
http://www.signonsandiego.com/sports/chargers/20051204-2144-fbn-raiders-chargers.html
Tackling a loss
49ers let Boldin scamper for 54-yard winning
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2005/12/05/49ERS.TMP
[headlines]
----------------------------------------------------------------
“Gimme that Wine”
New Wines, New Faces: Stewart Cellars
http://www.winespectator.com/Wine/Features/0,1197,2953,00.html
Overexpansion leads to bankruptcy
Company that owns Freemark Abbey Winery files Chapter 11
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/12/01/WIGNEFVVUC1.DTL
www.winezap.com
http://www.wine-searcher.com/
If you want to know if you got a value for your wine, or what the wine price is today, go to www.winezap.com Type in the vintage (year) and name of the producer with wine type or geographic area, such as 1995 Chateau Lynch Bages Pauillac. Even 1995 Lynch Bages will work, or 1999 Viader
[headlines]
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Today's Top Event in History
1848- President Polk triggers Gold Rush of '49, confirms California gold discovery. News of the discovery of gold in California in January was slow in reaching the East. Word of it first appeared in the New York Herald on August 19, but no great excitement was created until President James. K. Polk expressed enthusiasm about it in his message to Congress. The rush began by land across the continent and by sea and land via the Isthmus of Panama. The first shipload of prospectors arrived in San Francisco via Cape Horn on February 28. About 80,000 people made their way to California in 1849---55,000 overland and 25,000 by sea. About 5000 that started out overland never made it because Asiatic cholera swept their ranks. By the end of 1848, gold worth $10,000,000,000 had been mined.
[headlines]
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This Day in American History
1492- Christopher Columbus discovered Haiti at the end of his first voyage (he never discovered the mainland, which was discovered earlier by several others including the Vikings, Chinese, and Africans (who also were the first to discover South America from a foreign land). Here Columbus made slaves of all the natives, shipping as many as he could to Europe in his following four voyages. Fifty years later the natives were wiped out by the thousands when Spanish armies came to Haiti in search of gold. The Spanish were succeeded by the French, who brought slaves from Africa to work the plantations. In one of history most glorious struggles for independence, Haiti became the first black Republic in the world when it became a free country in 1804. American slaves would escape here, and to “free” states, which eventually brought on the Civil War as more “free” states were joining the union, such as Oregon, and territories were being formed in the North West.
http://whttp://www.medalia.net/Hhistory.html
www.haitiimpact.com/haitimarvelous.htm
http://www.amazon.com/exec/obidos/tg/detail/-/1565840089/ref=pd_thx_recs_2/
102-1682336-8966565?v=glance
1496 -Jews are expelled from Portugal by order of King Manuel I. The new world would be a land of free religion for all, but how to get there, via South America.
http://www.malhatlantica.pt/mediateca/manuel_i.htm
http://www.mchschool.org/~malbert/aftermath.htm
1776-Phi Beta Kappa founded Williams and Mary's College, Virginia.
http://memory.loc.gov/ammem/today/dec05.html
1782- Martin Van Buren's birthday, eighth president of the United States (1837-1841). The first president to have been born a citizen. His term saw many troubles from bank and business failures, depression and unemployment. In 1837, Van Buren succeeded Jackson in the White House. Three months later, the Panic of 1837 sent the national economy into a tailspin. Van Buren's inability to alleviate the depression, along with his opposition to the annexation of Texas on grounds it would lead to expansion of slavery, led to his drubbing by Whig candidate William Henry Harrison in 1840. He retired to Lindenwald , his Kinderhook estate, where he died in 1862.
(lower half of: http://memory.loc.gov/ammem/today/dec05.html )
1784-Birthday of Rhillis Wheatley - the first Black Afro-American poet. Her first collection of poetry was published in 1773. Two other books were published posthumously. Brought to Boston as a slave in 1761, RW was raised almost like a daughter by Mrs. John Wheatley and quickly learned English - then learned Greek and Latin. She was an object of great wonder in Boston and England because of her intelligence at a time when Blacks were considered “unteachable.” After the Wheatleys died, she was freed and married a black man who deserted her.
1787-Shay's Rebellion: Daniel Shays of Pelham, MA, organized a group of farmers whose land had been seized and their neighbor and friends into an armed force that overthrew courts and committed other acts of violence. They were protesting the depreciation of paper money, the insistence of creditors on being paid in silver money, the imprisonment of debtors, and the seizure of farmland to pay off debts. Following the Revolutionary War, the United States faced severe economic hardships. One reason, in addition to war debt, was that the new nation was cut off from the commercial ties of the British Empire. Especially hard hit was Massachusetts because England cut off trade between the United States and the British West Indies. This severely harmed several businesses of that state such as shipbuilding, distilling, and lumber, which depended on the West Indies trade. Because of the economic hard times in Massachusetts, many farms heavily in debt were seized by their creditors and often sold for a fraction of their value. The farmers and working men of Massachusetts who were unable to pay their debts were sent to debtor prisons and would not be released until their debts were paid. The state legislature of Massachusetts responded to this economic crisis in a very inadequate manner such as increasing court costs and raising taxes. On this day the “rebels” seized Worcester, Massachusetts, and were attempting to have others join them in the overthrowing of the government. They were also raiding homes, stealing food, clothing, and whatever valuables they could lay their hands upon. By February 1787, however, they were completely routed. The rebels were captured and sentenced to death for treason, but they were later pardoned.
http://www.politicalresource.net/shay's_rebellion.html
http://mumbet.com/html/shay.html
1792- George Washington was reelected president of the United States. John Adams was elected vice president. The electoral vote was Washington, 132, Adams, Federalist of Massachusetts, 77; George Clinton, anti-Federalist of New York, 50. In those days, the person who came in second was vice-president. The4 third Congress consisted of 30 senators of whom 17 were Federalist and 13 Democratic-Republicans. In the House the count was 57 Democratic-Republicans and 48 Federalists.
1804- Thomas Jefferson was reelected president of the United Sates. George Clinton, first governor of New York and like Jefferson, a Democratic-Republican, was elected vice president. The electoral vote was Jefferson, 162; Charles C. Pinckeny, Federalist of South Carolina, 14. This was the first election with separate ballots for president and vice president.
1832- Andrew Jackson re-elected President of US by 687,502 popular votes and 219 electoral votes against 530,189 popular votes and 49 electoral votes for Henry Clay. Martin Van Buren was elected Vice-President
1839 – Birthday of General George Armstrong Custer, Born, New Rumley, Ohio. (U.S. military officer; killed in battle at Little Bighorn, June 25, 1876). Considered a civil war hero. In 1867, he was court-martialed for not following orders or taking care of his men or following orders to protect farms. He had left his fort to visit his wife 275 miles away, who he had not seen for quite some time. Being the general in charge, he had the authority to do this, and did not pursue a group of Indians along the way, due to lack of information, including size and direction. He claimed he was being made a scapegoat for a failed campaign and General Sheridan late re-appointed him. He quickly redeemed himself .Ulysses S. Grant was so infuriated with Custer's activity, that he demoted him. Custer was popular among battle officers and was later re-instated to lead further activities against “hostile Indians.” While reportedly not popular with his men or other military, he was a fighter, who was known to charge into battle with simple plans, which was his modus operendi. It is said that in his final battle, one of his captain's hesitated in the attack, delaying another, making Custer attack with only half of his troops and leaving a hole for the Indians to escape and eventually surround the small force in shear numbers, even though many did not have fire arms. The death of he and his 210 men became a war cry to “kill all the Indians” as the country moved further west.
http://www.cbhma.org/custer-bio.shtml
http://www.civilwarhome.com/custerbi.htm
http://leav-www.army.mil/history/custer.htm
http://www.pbs.org/weta/thewest/people/a_c/custer.htm
http://www.garryowen.com/
1843-The Navy launched is first iron side wheel steam, the “Michigan”, Erie, PA.
http://www.cogulus.com/archimedes/illustrations/1844_michigan.jpg
http://www.greatwhitefleet.org/michigan/01/history.htm
1848- President Polk triggers Gold Rush of '49, confirms California gold discovery. News of the discovery of gold in California in January was slow in reaching the East. Word of it first appeared in the New York Herald on August 19, but no great excitement was created until President James. K. Polk expressed enthusiasm about it in his message to Congress. The rush began by land across the continent and by sea and land via the Isthmus of Panama. The first shipload of prospectors arrived in San Francisco via Cape Horn on February 28. About 80,000 people made their way to California in 1849---55,000 overland and 25,000 by sea. About 5000 that started out overland never made it because Asiatic cholera swept their ranks. By the end of 1848, gold worth $10,000,000,000 had been mined.
1862- Battle of Coffeeville MS
http://www.angelfire.com/ms2/grantshilohvicksburg/TheBattleofCoffeeville.html
http://www4.pair.com/justfolk/Diary103.htm
http://memory.loc.gov/cgi-bin/query/I?cwar:19:./temp/~ammem_akUv::displayType=
1:m856sd=cwp:m856sf=4a40129:@@@
1865-In the wake of the Civil War, fiscal conservatives attempted to curtail the use of greenbacks, paper money minted to support the Union. The drive to end greenbacks got a boost on December 5, 1865 when Treasury Secretary Hugh McCulloch made a plea for the currency to be discontinued. However, proponents of greenbacks kept the currency flowing into the 1870s.
1870-Birthday of Bill Pickett, rodeo cowboy born at Williamson County, Texas. Inventor of bulldogging, the modern rodeo event that involves wrestling a running steer to the ground. Died at Tulsa, OK, April 21, 1932.
1876-President Ulysses S. Grant delivered his speech today, apologizing to Congress, claiming mistakes he made while he was president were due to his inexperience. His errors, he said, were "errors of judgment, not intent." While Grant's personal integrity was never formally questioned, he was closely associated with many government scandals which became public during his presidency. The scandals included at attempt to corner the gold market, significant fraud in the Treasury Department and Indian Service. His term in office had many other “scandals” and was full of wide-spread corruption, particularly from cabinet members and other “financial” supporters.
1894-Birthday of Phillip Knight Wrigley, baseball executive, born at Chicago, IL. Wrigley inherited the Chicago Cubs upon his father's death in 1932. He and his family owned the team for 60years until selling it to the Tribune Company in 1981. Died at Elkhart, WI, April 27, 1977.
1901-Birthday of Walt Disney, animator, filmmaker, theme park developer, born at Chicago, IL. Disney died at Los Angeles, CA, Dec. 15, 1966. He personally supervised the building of Disneyland, living on the premise, visiting the only night event, sometimes with Ward Kimball, as Dixieland was played there (one of my high school jobs was playing clarinet and bass sax during the off nights, the week, and he was a frequent visitor with his own glass---as the bar only served beer.)
1912 -- Marshall Royal Birthday ( lead altoist, band manager for Count Basie )
http://www.netstoreusa.com/mubooks/030/0304338362.shtml
1916- Sneakers with rubber soles and plain cloth uppers were sold from the early 1870s by Charles Goodyear of New York City, who developed the vulcanized rubber shoe sole, and by many other footwear companies. The first brand of sneakers was Keds, introduced today in 1916 by the United States Rubber Company, the successor to Goodyear's shoe company. The first Keds had black soles and high-top brown canvas uppers, mimicking leather shoes. The name was a combination of “kids” and ped, the Latin won] for “foot.”
1920-Singer Kay Davis born Evanston, IL. With Duke Ellington in the 1940's., Transblucency, Minnehaha.
http://www.parabrisas.com/d_davisk.html
http://shopping.yahoo.com/shop?d=product&id=1927053664
1929-Three men organized the American League for Physical Culture in New York City, the first nudist organization.
http://www.bareworks.com/history.htm
1933-Prohibition ended with the repeal of the Eighteenth Amendment, as the Twenty-First Amendment was ratified. Actually during this period, hospital and other records of alcoholism went down. There were considerably less accidents and deaths caused by drunk driving, and crime was more related to “lack of money” and the depression, than drinking. The law did not allow the transportation or making of alcoholic drinks, but private clubs and many restaurants had a long supply (and were able to purchase without the federal or sales tax, actually at a lower cost when the government was regulating it. ) The grape industry suffered; however, individuals were allowed to make up to 300 gallons a year, plus beer, which created many home wine and beer makers ( which you legally can do today.).
1934-American educator Mary McLeod Bethune founds National Council of Negro Women.
http://www.nps.gov/mamc/
http://www.ncnw.org/
http://www.whitehouse.gov/kids/dreamteam/marybethune.html
http://www.nahc.org/NAHC/Val/Columns/SC10-6.html
http://www.ncnw.org/history.htm
1934-Birthday of bass player Art Davis, Harrisburg, PA
http://www.artdavis.com/
http://www.eclipse.net/~fitzgera/adavis/adavis.htm
1934—Birthday of Joan Didion - novelist, journalist, writer and essayist. Best known for The White Album (1979), A Book of Common Prayer (1977) and Play It As It Lays.
1935-Birthday of “Little Richard” Penniman, singer, songwriter, born Macon, GA.
http://www.history-of-rock.com/richard.htm
http://www.little-richard.com/
http://www.littlerichard.com/
1936 - Bing Crosby took over as host of "The Kraft Music Hall". Jimmy Dorsey (who would later be host, himself) led the Kraft Orchestra.
1941-The “ Lexington,” one of the two largest aircraft carriers employed by the United States during World War II, started its way across the Pacific in order to carry a squadron of dive bombers to defend Midway Island from an anticipated Japanese attack. Negotiations between the United States and Japan had been ongoing for months. Japan wanted an end to U.S. economic sanctions. The Americans wanted Japan out of China and Southeast Asia and Japan to repudiate the Tripartite "Axis" Pact with Germany and Italy before those sanctions could be lifted. Neither side was budging. President Roosevelt and Secretary of State Cordell Hull were anticipating a Japanese strike as retaliation-they just didn't know where. The Philippines, Wake Island, Midway Island-all were possibilities. American intelligence reports had sighted the Japanese fleet movement out from Formosa (Taiwan), apparently headed for Indochina. The U.S. State Department demanded from Japanese envoys explanations for the fleet movement across the South China Sea. The envoys claimed ignorance. Army intelligence reassured the president that, despite fears, Japan was most likely headed for Thailand-not the United States. The Lexington never made it to Midway Island; when it learned that the Japanese fleet had, in fact, attacked Pearl Harbor, it turned back-never encountering a Japanese warship en route or employing a single aircraft in its defense. By the time it reached Hawaii, it was December 13.
1946-- President Truman creates Committee on Civil Rights by Executive Order #9808
http://www.trumanlibrary.org/hstpaper/pccr.htm
http://www.civilrights.org/
http://www.cmgww.com/sports/louis/louis.html
1947- Joe Louis beats Jersey Joe Walcott in 15 for heavyweight boxing title
http://www.cmgww.com/sports/louis/bio.html
http://www.cyberboxingzone.com/boxing/jlouis.htm
http://www.ibhof.com/walcott.htm
1948 - The first church service in sign language for the hearing impaired was broadcast from St. Matthew's Lutheran Church for the Deaf in Jamaica, Long Island. WPIX-TV, Channel 11 in New York aired the telecast.
1950---Top Hits
All My Love - Patti Page
A Bushel and a Peck - Perry Como & Betty Hutton
Rudolph, the Red-Nosed Reindeer - Gene Autry
I'm Moving On - Hank Snow
1951 - The first push button-controlled garage opened in Washington, DC. A single attendant, without entering a car, could automatically park or return an auto in less than a minute.
1952- “ The Abbott and Costello Show” premiered on television. . Bud Abbott and Lou Costello made 52 half-hour films for television incorporating many of their best burlesque routines. The show ran for two seasons, until 1954. Costello was born at Paterson, NJ, Mar 6, 1906, and died at East Los Angeles, CA, Mar 3, 1959. In 1966 Hanna-Barbera Productions produced an animated cartoon based on the characters of Abbott and Costello. Abbott supplied his own voice while Stan Irwin imitated Costello. Bud Abbott was born at Asbury Park, NJ, Oct 2, 1895 and died at Woodland Hills, CA, Apr 24, 1974. “Who's on First?”
1953 - a killer F4 tornado struck Vicksburg, MS, killing 38 and injuring 270. This was the last killer tornado of 1953, concluded one of the worst tornado years on record. Every corner of the nation east of the Rockies was hit by violent tornadoes. In no other years have violent tornadoes been so widespread
1955- Rosa Parks was arrested at Montgomery, Alabama on December 1 for refusing to give up her seat to a white man. This was following the Interstate Commerce Commission ban on integrated buses and bus stops, which Alabama ( and other states) were ignoring. In support of Parks, and to protest the arrest, the black community of Montgomery organized a boycott of the bus system. Dr. Martin Luther King, Jr., at first reluctant to have his church involved, listened to the calls of his parishioners and joined the boycott where the assemblage pushed him into the fore front. When I interviewed him as a newsman, he was “shy” at the time, he explained, and did not consider himself a leader, but “caught up in the movement.” The boycott lasted from December 5, 1955, to December 20, 1956, when the US Supreme Court ruling was implemented at Montgomery, integrating the public transportation system.
http://www.grandtimes.com/rosa.html
http://www.time.com/time/time100/heroes/profile/parks01.html
http://www.lkwdpl.org/wihohio/beth-mar.htm
1955-The AFL-CIO was founded. The American Federation of Labor and the Congress of Industrial Organization joined together, following 20 years of rivalry, to become the nation's largest leading advocate for trade unions
1958---Top Hits
To Know Him, is to Love Him - The Teddy Bears
One Night - Elvis Presley
Problems - The Everly Brothers
City Lights - Ray Price
1964-The first Medal of Honor awarded in the Vietnam War was present to Army Captain Roger Hugh Donlon of Saugerties, NY. He was wounded four times ( n the stomach, leg, shoulder, and face) at Nam Dong, about 20 miles from the Laotian frontier. The award was the first since the Korean War, the first in a counterinsurgency effort, and the first to a solider with a friendly foreign force engaged in an armed conflict in which the United States was not at war, a “belligerent.” Now retired, Col. Roger resides in Leavenworth, Kansas with his lovely wife of more than 30 years, Norma. They have 4 sons and Roger has a daughter from a previous marriage. The Donlon's have a number of grandchildren and spend their time traveling, giving motivational speeches, promoting Roger's book, "Beyond Nam Dong", and working with The Westmoreland Scholar Foundation, an educational foundation dedicated to fostering reconciliation between the American and Vietnamese people.
http://www.mishalov.com/Donlon.html
http://www.homeofheroes.com/moh/citations_living/vn_a_donlon.html
http://www.sfachapter75.org/col.htm
1966---Top Hits
Winchester Cathedral - The New Vaudeville Band
Good Vibrations - The Beach Boys
Devil with a Blue Dress On & Good Golly Miss Molly - Mitch Ryder & The Detroit Wheels
Somebody Like Me - Eddy Arnold
1967- Baby doctor and writer Benjamin Spock along with Poet Allen Ginsberg and others arrested protesting Vietnam war.
http://www.washingtonpost.com/wp-srv/politics/campaigns/junkie/links/spock.htm
http://www.virtualology.com/virtualpubliclibrary/hallofeducation/Pedagogy/Benjamin-Spock.org/
http://www.bandontherun.com/index.html
1973- Paul McCartney releases "Band on the Run" album.
1974- The National Football League announces that it has voted membership to Seattle Professional Football, Inc., headed by Lloyd W. Nordstrom with partners Herman Sarkowsky, D.E. “Ned” Skinner, Howard S. Wright, M. Lamont Bean, and Lynn P. Himmelman.
http://www.seahawks.com/sigdates.aspx?SecID=167&yr=1970
1974---Top Hits
I Can Help - Billy Swan
Kung Fu Fighting - Carl Douglas
When Will I See You Again - The Three Degrees
Back Home Again - John Denver
1981- an explosively deepening ocean storm southeast of New England caught forecasters off guard and unloaded heavy snows over New England. Boston, MA was buried with 13.5 inches and parts of southeast Massachusetts and Rhode Island reported over 2 fee
1982---Top Hits
Truly - Lionel Richie
Gloria - Laura Branigan
Mickey - Toni Basil
You and I - Eddie Rabbitt with Crystal Gayle
1984 - Kareem Abdul-Jabbar, at age 37, was the oldest player in the National Basketball Association. He decided to push those weary bones just one more year by signing with the Los Angeles Lakers -- for $2 million. Other NBA greats who played for 16 seasons include John Havlicek of Boston, Dolph Shayes of Philadelphia, Paul Ilas of Seattle and Elvin Hayes of Houston.
1984 - a heavy snow came to an end in Oklahoma. 10 inches fell at Skiatook, OK and 6.1 inches at Oklahoma City, OK
1988-"Kokomo" by the Beach Boys topped the charts and stayed there for a week.
1992 - The rappers known as Ice Cube hit it big as their "The Predator" became the #1 album in the U.S. The tracks: "The First Day of School (Intro)", "When Will They Shoot?", "I'm Scared (Insert)", "Wicked", "Now I Gotta Wet' Cha", "The Predator", "It Was a Good Day", "We Had to Tear This ________ Up", "________ 'Em (Instert)", "Dirty Mack", "Don't Trust 'Em", "Gangsta's Farytale 2", "Check Yo Self (Featuring DAS EFX)", "Who Got the Camera?", "Intergration (Insert)", "Say Hi to the Bad Guy".
1988 -Televangelist Jim Bakker was charged by a federal grand jury with mail fraud and conspiracy to defraud the public through the sale of thousands of lifetime memberships to PTL theme park, Heritage U.S.A. (Bakker was convicted the following year and sentenced to prison.)
http://www.80s.com/Icons/Bios/james_orsen_jim_bakker.html
http://www.eonline.com/News/Items/0,1,27,00.html
http://www.physics.unlv.edu/~farley/humor/K/bakker.htm
1990---Top Hits
I'm Your Baby Tonight - Whitney Houston
Because I Love You (The Postman Song) - Stevie B
From a Distance - Bette Midler
Come Next Monday - K.T. Oslin
1991 -Charles Keating Jr (Lincoln Savings & Loan fraud), found guilty.
http://www.chron.com/content/chronicle/business/96/10/04/keating.html
1996 - The baseball players union executive board unanimously approved a new collective bargaining agreement, marking the end of the longest labor dispute in baseball history. The new agreement introduced a Luxury Tax, revenue sharing, inter league play, and several provisions designed to compel the future cooperation of owners and players.
1998 - James P. Hoffa won the Teamsters presidency after challenger Tom Leedham conceded defeat in the union's presidential election. Leedham said it was difficult to compete against Hoffa's name recognition, financing and more than four years of campaigning for the top post of the largest private sector union in the U.S. There are some that say “Junior” was one of those involved in the disappearance of his father, probably part of the cement structure holding up a bridge or building.
1998 - R. Kelly & Celine Dion were number one in the U.S with their single, "I'm Your Angel".
[headlines]
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American Football Poem
Kick In The Teeth
She looks at you
She smiles at you
She asks you to meet her at the bus stop
She asks you to pay her fare
She wants to go out for a meal
She wants to go to the football
She says you make her laugh
She says that you're her best friend
She emails you
She sends you texts
But she sleeps with somebody else.
Pablo Davis
[headlines]
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