Leasing News

Ralph Petta receives Leasing News Award

Leasing News Advisory Board member Ed Castagna, Nassau-Assets
(left) presented Leasing News Person of the Year Award for 2009 to Ralph Petta, Interim President, Equipment Leasing and Finance Association (right) at the Equipment Leasing and Finance Founding Industry Future Council meeting February 1st in Washington, DC.

Currently the interim president of the Equipment Leasing and Finance Association, Washington, D.C., Ralph Petta has been on the staff for over 20 years, where his title put him in charge of research and industry services. In reality, Leasing News believes he has been a key person in the industry for many years, who has contributed more than being a top professional; many insiders consider him the silent "unsung hero" of the leasing industry, especially for he long time work with the Financial Accounting and Standards Board, where it is said he can visit the Connecticut office and everyone knows him by his first name. His role in 2009 for the entire industry has been outstanding.

It is not just being a paid professional and staff liaison, but his "above and beyond" silent work that has made a profound contribution to the finance and leasing industry, taking very little credit for himself. Committee, board members, past presidents and chairmen, have considered him a "steady force" toward the growth of the finance and leasing industry, working really hard to represent the center of the plate matters of interest to all, despite the current economy and political atmosphere.

The entire industry is better for Ralph Petta’s career contribution since 1987. His actions in prior years, and particularly in 2009, reflect the man’s dedication and excellent character, which is worthy of being named Leasing News Person of 2009.

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In addition to the Leasing News Advisory Board, also taking part in the nomination process were Paul J. Menzel, CLP, 2005, Paul A. Larkins, 2006; Robert Teichman, CLP, 2008.

Leasing News Advisory Board

Edward Castagna, Nassau Asset Management, Westbury, NY.
Steve Crane, CLP, Bank of the West, Walnut Creek, CA.
Dale Davis, TriWest Financial, Costa Mesa, CA.
Phil Dushey, Global Financial Services, Manhattan, NY.
Ken Greene, Esq. Universal City / Kentfield, California
Shawn D. Halladay, The Alta Group, Salt Lake City, UT
Robert S. Kieve, Chairman, Empire Broadcasting, San Jose, CA.
Bruce Kropschot, Kropschot Financial Services, The Villages, FL.
Bruce Lurie, Douglas-Guardian Services Corporation, Houston, TX.
Andrew Lea, M.A. Point Richmond, Calif.
Allan Levine, Madison Capital, LLC., Owings Mills, MD
Don Myerson, BSB Leasing, Colorado, Hawaii
Armon L. Mills, Publisher, San Diego Business Journal, San Diego, CA.
Dan Pulcrano, Publisher, Metro Newspapers, San Jose, California
Robert Teichman, CLP, Teichman Training, Sausalito, CA
Paul Weiss, Pacific Rim Partners & Sunrise Tankers, San Francisco, CA.
Ginny Young, former Brava Capital, Orange, CA.

Obama’s bank tax is legally mandated

February 02, 2010
By Zach Carter

To the surprise of no one who watched the State of the Union address, President Barack Obama officially included his high-profile bank tax in the 2011 budget proposal Feb. 1.

The tax has stirred plenty of controversy and consternation among bank executives and some of my fellow SNL commentators, but no one seems to be focusing on the fact that the tax is legally mandated by the original legislation that authorized the U.S. Treasury Department’s Troubled Asset Relief Program.

The budget proposal presents few new details on the tax, which the Obama administration has dubbed the “Financial Crisis Responsibility Fee,” but the basic outline is clear. Obama intends to collect $90 billion from the nation’s largest banks by the end of 2020 and will apply the fee methodology longer if final TARP losses exceed $90 billion.

The administration projects TARP losses at $117 billion. The fee will cost the 50 largest U.S. financial institutions a total of $8 billion per year at first and will rise to $10 billion per year by 2020, meaning
the fee would likely extend through the 2023 tax calendar under current TARP estimates. The fee will take the form of a 15-basis-point assessment on “covered liabilities” — basically, total liabilities minus
deposits.

Bank executives are fighting the tax, because, well, it’s a tax, and they like keeping their money as much as anyone else. The economic arguments surrounding it seem to take two different general lines.

Those in favor say the tax is an appropriate way recoup taxpayer dollars pumped into the nation’s largest financial institutions, which were saved by TARP. Opponents say it’s an unnecessary burden that banks will simply pass on to consumers.

I’ve never been sympathetic to arguments that say taking any money from any industry will unilaterally create higher costs to consumers. All these banks will still be subject to the same competitive pressures they were subject to before the tax was imposed. Banks do
not universally raise interest rates whenever they run into trouble, and I seriously doubt there would be a significant impact from a tax as modest as this one. But if we’re really worried about it, let’s
include some strict executive compensation caps to make sure that bank managers bear the brunt of the blow, rather than consumers and shareholders. Better still, let’s take the U.K. approach and just
tax bonuses outright.

But the economic impact of the tax is really a distraction from the more important legal arguments. Here’s Section 134 of the Emergency Economic Stabilization Act, otherwise known as the bailout
bill. The emphasis in the quoted passage is mine:

“Upon the expiration of the 5-year period beginning upon the date of the enactment of this Act, the Director of the Office of Management and Budget, in consultation with the Director of the Congressional Budget Office, shall submit a report to the Congress on the net amount within the Troubled Asset Relief Program under this Act. In any case where there is a shortfall, the President shall submit a legislative proposal that recoups from the financial industry an amount equal to the shortfall in order to ensure that the Troubled Asset Relief Program does not add to the deficit or national debt.”

So the bank tax was part of TARP from the get-go. The basic structure of the fee was up to the president, but it has to apply exclusively to the financial industry, and it has to make taxpayers whole. This was part of the rationale for the entire bailout. Banks deployed plenty of lobbyists to push for the bailout bill, and they got just about everything they wanted. In fact, the only surprise on the bank tax is that the president actually wants to enforce it. When I talked to
Rep. Brad Sherman, D-Calif., about Section 134 in April 2009, here’s what he had to say:

“We won’t really get our money back. It only says the president has to propose something, it doesn’t say that Congress has to pass it, and it doesn’t keep the president from vetoing whatever Congress
actually passes.”

In other words, the repayment language had been diluted to the point where bailout critics like Sherman had believed it was meaningless.

The more serious argument here is that the TARP losses are coming from a handful of programs — the American International Group Inc. bailout, the auto bailouts and the homeowner relief programs
— while the 50 largest banks are footing the bill. Why, critics ask, should Bank of America Corp. and Wells Fargo & Co. have to fill that hole if they’ve already paid back their TARP funds? The reply to these critics should be obvious. The U.S. taxpayer saved not just AIG and automakers with TARP; it saved the entire financial system.

Here’s the more important problem. This tax is targeted at the largest banks, but Obama, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner have yet to formulate any
coherent argument as to why we need to keep too-big-to-fail institutions around at all. I’m not convinced the resolution mechanism will prevent future bailouts. The bank tax would have been a perfect opportunity to make being too big to fail a significant financial hardship.
But given Obama’s commitment to the tax as it stands, I think that ship has sailed.

Considering the extraordinary assistance taxpayers have provided the U.S. banking industry over the past two years, and given the serious taxpayer anger directed at bank executives these days, the bank tax is a great opportunity for bankers to improve their reputations. By acknowledging that assistance and gracefully acquiescing to the tax, banks could make some headway on the public relations front. Unfortunately, given the immediate pushback against the tax, it appears
that this ship, too, has sailed.

NACM: “…recession is in clear retreat”

The National Association of Credit Managers CMI February reports that their latest data is starting to turn in a decidedly positive direction; GDP numbers are the best in over a year and a half, suggesting that the recession is in clear retreat.

“The jump in manufacturing was stark and unexpected and, since the decline registered in the last iteration of the index, there has been a major leap in some critical areas,” said Chris Kuehl, Ph.D., economist for the National Association of Credit Management (NACM). “The combined CMI saw a jump from 52.9 to 55.1, which is impressive enough, but the real movement came from the manufacturing side,” he said. Reinforcing the message coming from the economy as a whole, the manufacturing sector jumped from 52.1 to 55.1, reversing the trend from the December index when the sector stagnated and slipped in terms of positive factors.

“Thus far, these are the highest numbers seen in the index since February 2009 when the initial impetus of the recession was broken,” the NACM CMI report states. “Since then, growth has been even, but not dramatic. That trend of slow growth is likely to return, but the suggestion from this month’s data is that there will be pretty substantial gains for the bulk of the first quarter.

“The service sector was not as dramatic as the manufacturing sector, but there was growth. The same factors seemed to be at work—increased sales and expanded availability of money. In both sectors there has been some improvement in terms of the number of accounts placed for collection and the number of disputes, and there has been a fairly steady decline in the number of bankruptcies as well. All in all, the CMI numbers of the last few months signal that business is attempting to catch up and position itself for the growth that has now finally arrived.”

January 2010 vs. January 2009

“The contrast between January 2009 and January 2010 is stark and the distance between the two is likely as broad as it will be for some time. It was a year ago that the recession reached its deepest point and the index showed numbers buried in the 40s. Now the index has climbed into solid expansion territory and is well into the mid 50s. It is not likely that this trajectory will be maintained indefinitely as there are still questions about how fast consumers will start to draw down new inventory, but there is also not much that would suggest a major decline at this point.”

About the National Association of Credit Management

The National Association of Credit Management (NACM), headquartered in Columbia, Maryland, supports approximately 19,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services, which improve the management of business credit and accounts receivable. NACM’s collective voice has influenced legislative results concerning commercial business and trade credit to our nation’s policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy.

Sales makes it Happen

by Jim Gibbons

“Persistence wins”

(This appeared first in the National Association of Equipment Leasing Broker “Forum,” a section of a blog to communicate with other members. It is reprinted here with the permission of the author.)

There is much I am unsure about in these uncertain times but some principles are indelibly engrained in my business belief system:

1. Customers buy people/brokers as much as products in the inanimate world of financial services.

2. Building relationships by being a dedicated consultant rather than a slick salesman is the ONLY way repeat business and loyalty is earned in ANY enterprise in my experience.

3. Leasing demands a good understanding of a clients' business and his personal goals and unique challenges and attributes.

4. Every contact is like gold. Every phone call you spend on a contact shores up your probability of both EARNING the deal and his loyalty. Sending flowers on birthdays, holidays and simple Thank-you Cards are sales 101 fundamentals but many of us (including this author) forget to send them.

5. It is hard not to put a dollar amount on each prospect and only service them according to their immediate ability to line our pockets. We forget how many times small deals with happy customers have led to unexpected bigger referrals.

6. Declined applications are our greatest learning tool. I always learn more from deals that are rejected than from approvals. Refining a package, adding letters of explanation, supplemental documentation, simply creating additional compensating factors all boil down to service, persistence, refining the lease package, and EARNING the DEAL.

7. You know you are born for this sometimes exasperating, but very rewarding, leasing business when like the Irish poet William Butler Yeats said "You Can't Separate the Dancer from the Dance".

8. This recession will reward applied expertise, patience, resilience, persistence and most of all dedication to a customer's long term solvency. This case is indicative of a professional, dedicated application of these prerequisites.

9. Learning to 'think like an underwriter' is becoming a job prerequisite. We all must think smarter.

10. Most of us are working much harder to earn much less. History is nothing if not cyclical. This too, will pass.

11. Money isn't everything. Loving your work makes up for much of the temporary financial shortfall.

And it WILL get better!

Good luck to all in 2010.

See you in Atlanta!

Jim Gibbons
Edison Capital Leasing LLC
jim@edisoncapitalleasing.com
M: 801.548.3197
http://www.edisoncapitalleasing.com/about

April 15-17
2010 NAELB Annual Conference
Omni Hotel at CNN Center
100 CNN Center
Atlanta, Georgia
Brochure:
http://www.naelb.org/associations/2004/files/2010%20NAELB%20
Annual%20Conference%20Registration%20Brochure.pdf

Letters?

"I hope you can help me. I see that C and J, Des Moines, Iowa is out of business. I have my equipment lease originally from them back in 2005; 6 months later they assigned it to Frontier leasing, Urbandale, Iowa. We’ve been making our payments regularly. My lease is almost up and I have a security deposit. Frontier said they don’t have it since I paid it through C and J. It’s a big amount of money and I wanted to use it towards my monthly. On my contract with C and J, I have the contract that states I have security deposit and that it can be refunded or used towards my monthly.

"$11,990.00 is at stake and we are not a big company. Our tanning salon is doing poorly that we wanted to make use of that money to cover some of the lease. You think I can get a copy of the transfer of ownership to check what was transferred to them? Goo to security and exchange and see if there’s any violation with this? I don’t know what course of action I can do. Do I have a chance of getting it back?"

Khym Long
Billing Specialist
Virginia Oncology Associates
1051 Loftis Blvd. Newport News VA 23606
Direct ( 757) 873-9819

(I asked an Iowa attorney to look into this on your behalf. He told me "The Iowa Appeals Court decisions I read said that, because the very first assignments by C&J to its affiliate were not legally valid, the subsequent assignments by the affiliate to Frontier were not legally valid. Therefore Frontier is left having paid value and having nothing in return. For that reason alone, Frontier would not be liable for returning the security deposits.

("In the normal case (where the subsequent assignment is effective), the assignee would not be liable for returning the security deposit provided that the lease contains the usual language stating to the effect that ‘assignee has all benefits of the original lessor but is assuming none of the liabilities, and you, the lessee, agree not to assert any liabilities against an assignee.’

(While I did not find a BK for C&J, they did not return a telephone call, and to seek the deposit from them would be too expensive. Paying an attorney for a "collection" or "consequence" letter or effort I think would be a waste of time as I bet they have received many of them, thus the court case.

(While I am not an attorney nor licensed to give legal advice, it is my experience it will cost you $2,000 to $3,000 to get an attorney up-to-speed, more if not an attorney experienced in leasing. It will cost you $10,000 to $20,000 to take them to court, and more if there is a jury trial. Then you have to collect it. As a rule of thumb, cases under $30,000 are generally not worth pursuing, especially out of state. Next time you are in such a situation, hire an attorney to come up with something about an escrow account or something to protect your interest at the time of signing the contract; but in reality, if C&J had not been hit by the economy, they most likely would have returned the security deposit. Editor)

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“Good Afternoon:

“Any updates on E.A.R.?

“You are the best....we (my whole company) looks forward to your articles!!”

Theresa Giorgio
Giorgio Technology Sales/Service
480-917-3640 office
480-917-6571 fax
www.gtsaz.com

(The latest is in today. It is surprising to me how many vendors now read Leasing News, primarily for alerts, Bulletin Board complaints, or news about companies they have worked for. Working on an “inside story” of how it was physically done. Five brokers who sold the leases told me how it worked, including sending me materials and emails from Sheldon Player. Editor)

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Tony Golobic
Chairman and Founder of GreatAmerica Leasing

"I read and agree with all that is being said about Great America – truly a best practice organization.

"I seem to recall something like a Truth in Leasing Statement being offered by Dana Commercial Credit in the early 90’s. It included commitments not to evergreen, how FMV would be determined (independent values) etc. etc. Dana was way ahead of their time with their approach and I believe they one several awards for their approach.

"Colonial Pacific also had a very clever service delivery guarantee that paid customers if turn around standards were not met.

"It is nice to see the positive stories being told along with the tales of those who embarrass the industry."

Hugh Swandel
http://www.thealtagroup.com
Tel: (204) 477-0703
Cell: (204) 996-4844
Email: hswandel@thealtagroup.com
Global Experience Provides Direction

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Bob Bell, CLP

"Leasing News is one of my “first reads” in the morning. Over the years you and I have had some disagreements and I attribute those to two men of good will with different perceptions of a similar situations. Back in 2004 I think it was you wrote an article alluding to the fact that the NAELB did not 'Talk the Talk' when it came to ethics issues. I think we both have agreed that Ethics is a huge issue in our industry and we are both on the same page when it comes to rooting out the bad apples.

"Back then as the president of the National Association of Equipment Leasing Brokers (NAELB) responded with a detailed explanation of the association’s 'process' including references to the fact we as an association did not want to become a pawn for either party when it came to legal redress and therefore all processing of complaints are suspended once legal action has begun. In today’s edition you brought up some recent ethics issues and I was pleased at the following comments made in that regard:

"'This complaint is important as it demonstrate NAELB cleans its own house, even if the party is both a ''"Best Practice Broker' and a Certified Lease Professional.

"'Mr. Bonanno also serves on the CLP Foundation Board.

"'It is Leasing News policy not to consider complaints when they are being addressed by the NAELB as the leasing association has been very proactive in such investigations and resolution to complaints."

Although I am no longer a Board member of the NAELB, I want to thank you for your trust in the efforts of the NAELB. I know they spend many hours and a lot of money to promote ethical behavior and punish those who would violate the trust of their prospects, clients, and fellow leasing professionals.

A long time ago I learned that it is a good business practice (not bad in personal relationships either) to scold in private and praise in public. You have my sincere permission to print this if you like. Thank you for the good work you do.

Bob Bell, CLP
United Funding, LLC
1455 Lockridge Drive
Suite 100
Cumming, GA 30041
800-685-7571
bbell@unitedfundingllc.com

(Thank you. Kit Menkin)

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"Please add me to the mailing list. robertwholloway@gmail.com. I was with National City for about 10 years and am now re-entering the job market after taking off about 5 months to take care of shoulder surgery, travel and enjoy family. Your publication kept me in the loop for many years, helped keep us out of some danger and served as very good conversation at numerous events around the country."

Best regards,
Rob Holloway
rhollywood12@gmail.com

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"It was a tough year, but I made it !!!

"How 'bout you ???"

Regards,
Jason A. Gendron, Director
Cembrus Capital
The Atrium Building
19200 Von Karman Avenue
Suite 400
Irvine, CA 92612
877-737-9185 Toll Free
949-797-9185 office
949-677-5455 cell
"Customized Financial Solutions"
www.cembrus.com

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"I am sending you a picture of one of the three dogs/people we have at home. Charlie a Shitzu Boy is great with children but always loves older folks who need a hug to.

" Thought this could be a launch point to fill in on day's when news is slow. Maybe a category of Leasing Pets we know as many dog lovers appreciate your having the adoption of dog’s area on your page could be a contest? Just an idea.

Regards,
Neil Roth
Key Credit Corp.
neilr@keycreditcorp.com

(I'm open to that. In the Adopt-a-Pet some of the web sites have photos of families with dogs they adopted, and I include that link. It may be a good idea to put a dog next to a photo of the sender as they say a person's dog looks like them (I wish I was as handsome as my dog, who also is not bald. Kit Menkin)

Ten most popular dog breeds in the US:

(A wet, but handsome Bode Ace emerging from the swimming pool)

1. Labrador Retriever
2. Yorkshire Terrier
3. German Shepherd Dog
4. Golden Retriever
5. Beagle
6. Dachshund
7. Boxer
8. Poodle
9. Shih Tzu
10. Miniature Schnauzer

Go here for ten top dogs per city:
http://www.akc.org/reg/topdogsbycity.cfm

---

Short Shorts
http://www.youtube.com/watch?v=4-KaSNAEgvQ&feature=related

(A long way from the 2010 Grammy’s. Editor)

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

NSBA 2009 Year-End Economic Report: Small Businesses Still Struggling

Washington, D.C. – NSBA released its 2009 Year-End Economic Report which shows small businesses continue to struggle under the lagging economy and the ongoing credit crunch. The number of small businesses citing decreases in revenue over the past 12 months rose to its highest point since 1993, and 39 percent report they are unable to get adequate financing for their business. Despite a very dismal latter-half of 2009, however, there is small silver lining: the majority of small businesses (52 percent) expect growth opportunities in the coming 12 months.

“Availability of capital has not eased whatsoever for small businesses,” stated Todd McCracken, president and CEO of NSBA. “With most small-business owners projecting some kind of growth in the coming year, it is critical that America’s job creators, small businesses, have access to affordable capital if we have any hope of economic recovery.”

For the first time in two years, there was a slight increase in the number of small businesses who are confident in the future of their own business—up from 58 percent in July 2009 to 61 percent in December 2009. Although a positive shift, the downside is that more than one-third (39 percent) of small-business respondents have concerns about the ongoing viability of their business.

According to the report, 64 percent of small-business owners reported decreases in revenues, up from 62 percent in July 2009. Job growth also continued to suffer. Despite a three-point increase in the number of small-business owners who created new jobs in the last 12 months, there also was an increase in the number who cut jobs—up from 41 percent in July 2009 to 44 percent in December 2009.

Looking ahead to the coming year, growth projections appear to be on an upswing. In August 2008, 57 percent projected an increase in revenues, in July 2009, only 30 percent projected revenue increases. Today, 43 percent project revenue increases. Small-business owners also are projecting a net increase in jobs for the first time in over a year with 24 percent projecting job growth while 18 percent expect job cuts.

“Small businesses continue to face significant hurdles—hurdles Congress has the power to address,” stated NSBA Chair Keith Ashmus, co-founding partner at Frantz Ward in Cleveland, Ohio. “Health care costs continue to weigh heavily on small businesses with 20 percent—one in five—being forced to lay off workers due to rising health care costs.”

The NSBA 2009 Year-End Economic Report survey was conducted the last two weeks in December 2009 among 450 small-business owners from across the country in every industry. Please click here to access the full report.

Since 1937, NSBA has advocated on behalf of America's entrepreneurs. A staunchly nonpartisan organization, NSBA reaches more than 150,000 small businesses nationwide with members as diverse as the economy they fuel. For more information, please visit www.nsba.biz.

SEATTLE

Meet and learn from Mr. Terry Winders, CLP

Leasing #102 columnist for Leasing News,
long time educator and trainer

Sales and Operations
click here for course information and to register

April 12th until Noon on the 14th
Seattle, Washington
Hosted by Financial Pacific

$395.00 Paid in Advance for first person from company
$345 with each additional attendee

"Certified Leasing Professionals attending this seminar will earn CPEs (Continuing Professional Education)
Credits toward their recertification"

(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)

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

Equipment Leasing and Finance Association Issues Statement on
Obama Administration FY 2011 Budget Submission

ELFA Applauds Proposals to Increase Business Investment

Washington, DC, —The Equipment Leasing and Finance Association (ELFA) issued a statement today in response to proposals in the Obama Administration’s FY 2011 Federal Budget. In his statement, ELFA Interim President Ralph Petta commends the Administration for its proposals related to business investment and tax incentives which the ELFA believes will help drive much needed growth in the economy.

The statement reads as follows:

“The Equipment Leasing and Finance Association (ELFA) commend the Obama Administration for its budget proposals to increase investment in plant and equipment, enhance access to capital, and encourage small business lending.

Specifically, the ELFA applauds the proposal to enhance investment in new plant and equipment for all businesses by proposing the extension of tax bonus depreciation through December 31, 2010. For several years, the ELFA has advocated for the extension of bonus depreciation and will work to assure that the Congress once again adopts favorable bonus depreciation language for the equipment finance industry, which should enhance liquidity in the equipment finance market.

The ELFA and its member companies support proposals and tax incentives for both large and small businesses designed to provide a much needed stimulus to the economy. These incentives spur investment in plant and equipment, which is a key driver in capital formation, economic growth and productivity.

The ELFA pledges to work with the Congress and the Administration in the coming weeks on proposals to strengthen the economy and stimulate job growth.”

About the ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $518 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its over 600 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org

ELFA is the premier source for statistics and analyses concerning the equipment finance sector. Please visit http://www.elfaonline.org/ind/research/ for additional information.

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

SquareTwo Financial Names Paul A. Larkins CEO

DENVER, -- SquareTwo Financial, a leader in the $40 billion asset recovery and management industry, announces Paul A. Larkins as its chief executive officer.

In this expanded role, Larkins will oversee all aspects of SquareTwo Financial's business of making distressed assets whole through industry-leading analytic modeling, award-winning technology and a pioneering Partners Network that works directly with individuals to remedy their outstanding debt.

A 25-year veteran of the financial services industry, Larkins will guide SquareTwo Financial's consumer, commercial, healthcare and Canadian business lines as they acquire distressed portfolios from financial institutions and return those assets back to productive use.

"Since joining our team 10 months ago as president, Paul has propelled our organization into the most exciting phase of its 16-year history," said Scott Lowery, SquareTwo Financial's founder and chairman. "In this additional role of CEO, Paul will utilize his dynamic leadership style, deep industry knowledge and innovative ideas for even greater impact within both our organization and the financial services industry as a whole." Larkins will continue as the company's president.

Prior to SquareTwo Financial, Larkins served as president and CEO of Key National Finance, and executive vice president of KeyCorp. Key National Finance was comprised of Key Equipment Finance, Key Auto Finance, Key Education Resources, Key Recreation Lending, Key Home Improvement and Key Payroll Online. Larkins joined Key in 1993, and was a member of the Executive Council of KeyCorp (parent company). Before joining Key, Larkins worked for USL Capital and IBM in regional and national capacities.

"Now, more than ever, managing charged-off assets is extremely important to our clients, which are primarily banks and financial services companies," Larkins said. "I am excited to have the opportunity to lead our team as we help our clients find ways to give assets a second chance utilizing our unmatched analytics, operations and innovative technology applications to drive asset recovery. I am confident we will continue to set ourselves apart from the competition with our unique Partners Network and its proven, scalable business model."

Larkins received his Bachelor of Science degree in Economics and Business Administration from St. Mary's College of California. Additionally, he is a graduate of the Institute of Leasing Management at Columbia University and the Stonier Graduate School of Banking at the University of Delaware. Larkins serves as a member of the board of the Leeds School of Business at the University of Colorado at Boulder. (He is also Leasing News Person of the Year 2006. editor)

About SquareTwo Financial:

SquareTwo Financial is a leader in the $40 billion asset recovery and management industry. Through its award-winning technology and unique Partners Network, SquareTwo Financial creates a more effective way for companies and consumers to resolve their debt commitments. Fortune 500 companies in the health care, automotive, banking and credit card industries trust SquareTwo Financial to manage their debt portfolios. The company's national network of legal partners is dedicated to treating consumers fairly and ethically. SquareTwo Financial is based in Denver, Colo. Visit http://www.squaretwofinancial.com/ for more information.

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

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

Co-conspirator in Mortgage Fraud Scheme Sentenced to Prison
Faces restitution of approximately $78,000 to be paid to victims

Los Angeles – One of three men involved in a mortgage fraud scheme in Yucca Valley, California was sentenced yesterday in the United States District Court in Los Angeles for participating in a money laundering conspiracy in connection with a mortgage fraud and identity theft scheme.

Mohamad Esmail, 33, of Corona, California, was sentenced to serve 6 months in federal prison, 12 months home confinement with electronic monitoring, and 3 years of supervised release by United States District Judge Philip S. Gutierrez.

According to his plea agreement, in early 2006, Esmail purchased three homes in Yucca Valley, California, and purchased the homes at the request of his brother-in-law, co-conspirator Jubran Dighlawi.

In September and October 2006, Esmail sold the three Yucca Valley homes at inflated prices. The named buyer of the homes was Yousef Mohamed, however, co-conspirators Jubran Dighlawi and Ata Dighlawi purchased these homes. Esmail knew that Jubran Dighlawi and Ata Dighlawi had full control of all aspects of the transactions.

Esmail received payments, which were the purported profits of the inflated home sales, from escrow companies located in the Central District of California. The escrow company sent these funds to a bank account in Esmail’s name. Esmail knew that these payments represented the proceeds of fraudulent mortgage loans obtained from federally insured lenders.

Esmail entered into an agreement with co-conspirator Jubran Dighlawi to use Esmail’s bank account in order to route money obtained from the fraud scheme to co-conspirator Jubran Dighlawi. As part of the scheme, Esmail: (a) sent wire transfers from Esmail’s bank account to a bank account in the name of the wife of codefendant Jubran Dighlawi; and (b) withdrew cash from Esmail’s bank account for delivery to co-conspirator Jubran Dighlawi or to accounts that Dighlawi controlled under other names.

Esmail acknowledged that the purpose of these financial transactions was to conceal and disguise the source, nature, ownership, and control of the funds. He also acknowledged that he laundered $78,605 in proceeds from the mortgage transactions as part of his agreement with co-conspirator Jubran Dighlawi. Esmail will be ordered to pay restitution of that amount.

Co-conspirator Jubran Dighlawi, was previously indicted by a federal grand jury on charges of conspiracy, bank fraud, loan fraud, aggravated identity theft, and money laundering. Jubran Dighlawi is currently a fugitive.

Ata Dighlawi, who pleaded not guilty to charges of conspiracy, bank fraud, loan fraud, and aggravated identity theft, is scheduled for trial in March 2010.

Esmail is scheduled to surrender to federal custody to begin his prison term on May 17, 2010.

The investigation and prosecution of Esmail was conducted by IRS – Criminal Investigation and Immigration and Customs Enforcement in Long Beach, California, in conjunction with the United States Attorney’s Office for the Central District of California.

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

    1690-Massachusetts established a provincial bank and issued money in denominations from two shillings to five pounds to pay the soldiers who served in the war with Quebec. This was the first instance of issuing “paper money.” Until 1690, the North American colonies had dealt primarily in coinage. Silver and gold were rather rare, so colonists generally used unofficial coins, or “decrepit coppers.” Boston-based silversmiths John Hull and Robert Sanderson did operate their own mint between 1652 and 1682, issuing silver shillings and three and sixpence pieces, but save for a few ill-fated experiments, paper money was hardly tried or used. Other colonies and states soon also issued paper money without any basis, so that in 1780 the ratio of paper to silver was 40 to 1.
    1737- Elizabeth Graeme Ferguson birthday- writer whose primary fame rests on being a go-between on behalf of the British with revolutionary forces at the behest (or insistence) of her husband, a loyalist.. In October 1777 Ferguson's husband prevailed upon her to carry from the Reverend Jacob Duché to General George Washington a letter urging Washington to surrender. Washington chided her for her part in the episode. She later carried to Joseph Reed, Pennsylvania delegate to the Continental Congress and aide to Washington, an offer of 10,000 guineas for help in obtaining peace terms advantageous to Britain. Ferguson's role in these proceedings brought her trouble. Her husband had already been attainted and proscribed, and late in the war Graeme Park was confiscated. Although it was restored to her in 1781, she lost it through financial reverses in 1791. Her last years were difficult. She died near the Graeme Park estate in Pennsylvania on February 23, 1801.
http://search.eb.com/women/articles/Ferguson_Elizabeth_Graeme.html
    1787 - Shays' Rebellion, an uprising of Massachusetts farmers led by Daniel Shays, ended with defeat at Petersham. Starting on August 29 the previous year, Shay began building his following. On January 25, Shays led 1100 men in an attempt to seize the arsenal in Springfield, Mass. State militia commanded by Gen. William Shepherd routed the insurgents. The uprising had been caused by the harsh economic conditions faced by Massachusetts farmers, who sought reforms and the issuance of paper money. The insurgents were taken completely by surprise on the morning of February 3 rd in Petersham. General Benjamin Lincoln had marched his troops through a snowstorm the previous night. The farmers scattered, and the rebellion was ended. Most of the insurgents took advantage of a general amnesty and surrendered. Shays and a few other leaders escaped for a while. The Supreme Judicial Court soon sentenced fourteen of the rebellion's leaders, including Shays, to death for treason. They were later pardoned by the newly elected Governor John Hancock. Only two men, John Bly and Charles Rose of Berkshire County, were hung for their part in the Rebellion. A new Massachusetts Legislature in Boston began to undertake the slow work of reform. February 6, 1788 Massachusetts would become the sixth state to ratify the US Constitution and become the sixth state of the Union.
http://www.sjchs-history.org/shays.html
    1793 -- Lucretia Mott born Nantucket, Massachusetts. Abolitionist and feminist.
One of the strongest voices for the rights of women and blacks in the US was Lucretia Coffin Mott, a birthright Quaker who lived most of her life in Philadelphia, the center of American Quakerism. The event that triggered her involvement in women's rights activity was richly ironic She was an accredited delegate to an international antislavery convention in London, along with five other US women. The men in charge apparently saw nothing wrong with excluding all women from an assembly dedicated to advancing the rights of blacks. It was on the sidewalk outside the convention where Mott started her long association with Elizabeth Cady Stanton, together they were instrumental in establishing the basis for women's suffrage. She was a peacemaker between groups with different priorities, and campaigned (dressed in Quaker grey) for human rights into her 85th year. Her incisive, challenging mind, a clear sense of her mission, and a level-headed personality made her a natural leader and a major force in her time.
—Bleedster G. Armour Van Horn, Twisted History
http://www.mott.pomona.edu/mott1.htm
http://womenshistory.about.com/library/bio/blmott.htm
http://womhist.binghamton.edu/mott/intro.htm
    1807-Birthday of Confederate General Joseph Johnston, born near Farmville, VA, and died March 21,1891 at Washington, DC. One of the most brilliant officers of the CSA, but known for having many differences with President Jefferson Davis who wanted to run the war from his office. Johnston's troops were never directly defeated and he holds the record of most victories when he was in command.
    1809 - Illinois Territory, including present-day Wisconsin, was established.
    1811-Birthday of Horace Greely, newspaper editor, born at Amherst, NH. Founded of the “New York Tribune” and one of the organizers of the Republic Party. Greely was an outspoken opponent of slavery. Best remembered for his saying, “Go West, young man.” Died No 29, 1872 at New York City.
    1821- Elizabeth Blackwell, the first woman doctor in the United States.
After her graduation in 1849, she went to Paris to study which was then the world's foremost medical center, but Paris doctors proved as intolerant as their American colleagues. They would not permit her to study as a doctor. She was forced to enter a large maternity hospital as a student midwife. Because of an infection she contracted there, she lost the sight of one eye. When she returned to New York City in 1850, no hospital would allow her to practice there. Using funds donated by women - mostly Quakers, she and her sister opened the New York Infirmary for Women and Children, the first clinic for women examined and treated by women. After the Civil War, she returned to her native Britain where she continued to practice medicine. Died May 31, 1910.
http://womenshistory.about.com/library/bio/blbio_blackwell_eliz.htm
    1841-Nauvoo Legion chartered: created by Illinois Charter and comprised of 5,000 Mormon men under the command of Lieutenant General Joseph Smith, the Nauvoo Legion was considered the “largest trained soldiery in the US except for the US Army.”
    1862 - Thomas Edison printed the "Weekly Herald" and distributed it to passengers on a train traveling from Port Huron and Detroit, Michigan. It was the first newspaper printed on a train. He called it the “Weekly Herald” and it was a single sheet of approximately seven by eight inches, printed on both sides.
1862 – Birthday of George Tilyou creator of Steeplechase Amusement Park, Coney Island.
http://www.pbs.org/wgbh/amex/coney/peopleevents/pande04.html
    1865-President Abraham Lincoln and his Secretary of State, William Seward, met to discuss peace with Confederate Vice President Alexander Stephens and others at Hampton Roads, VA. The meeting, which took place on board the ship “River Queen,” lasted four hours and produced no positive results. The Confederates sought an armistice first and discussion of reunion later, while Lincoln was insistent that the recognition of Federal authority must be the first step toward peace. New York Tribune editor and abolitionist Horace Greeley provided the impetus for the conference when he contacted Francis Blair, a Maryland aristocrat and presidential adviser. Greeley suggested that Blair was the "right man" to open discussions with the Confederates to end the war. Blair sought permission from Lincoln to meet with Confederate President Jefferson Davis, and he did so twice in January 1865. Blair suggested to Davis that an armistice be forged and the two sides turn their attention to removing the French-supported regime of Maximilian in Mexico. This plan would help cool tensions between North and South by providing a common enemy, he believed. Meanwhile, the situation was becoming progressively worse for the Confederates in the winter of 1864 and 1865. In January, Union troops captured Fort Fisher and effectively closed Wilmington, North Carolina, the last major port open to blockade runners. Davis conferred with his vice president, Alexander Stephens, and Stephens recommended that a peace commission be appointed to explore a possible armistice. Davis sent Stephens and two others to meet with Lincoln at Hampton Roads, Virginia. The meeting convened on February 3. Stephens asked if there was any way to stop the war and Lincoln replied that the only way was "for those who were resisting the laws of the Union to cease that resistance." The delegation underestimated Lincoln's resolve to make the end of slavery a necessary condition for any peace. The president also insisted on immediate reunification and the laying down of Confederate arms before anything else was discussed. In short, the Union was in such an advantageous position that Lincoln did not need to concede any issues to the Confederates. Robert M.T. Hunter, one of the delegation, commented that Lincoln was offering little except the unconditional surrender of the South.
After less than five hours, the conference ended and the delegation left with no concessions. April 9, at Appomattox Court House, VA., Gen. Robert E. Lee surrendered to Gen. Grant. The Civil War was virtually ended.
Unfortunately President Lincoln was shot by John Wilkes Booth at Ford's Theater in Washington, DC, April 14. The war continued and on May 10, Jefferson Davis was captured at Irwinville, GA, by a contingent of Gen. James H. Wilson's cavalry, led by Lt. Col. Benjamin Pritchard. and on May 29 th President Johnson issued a proclamation of amnesty.
    1870-The 15 th Amendment granted that the right of citizens to vote shall not be denied on account of race, color or previous condition of servitude.
    1874-Birthday of Gertrude Stein, avant-garde expatriate American writer, perhaps best remembered for her poetic declaration (in 1912): “Rose is a rose is a rose,” while living in Oakland, California. Born at Allegheny, PA, died at Paris, France, July 27,1946. She lived most of her life in France with her lifelong companion Alice Tolkas. Her word repetitions challenged readers to explore the various and deeper meanings of words such as "A rose is a rose is a rose." Coined the phrase "the lost generation” and used the word "gay” for the first time in literature. Renowned collector of modern French art.
    1880-Theodore Roosevelt declares his love for young Alice Lee of Boston, MA.
http://memory.loc.gov/ammem/today/feb03.html
    1882 -- Docking in New York, Oscar Wilde is asked by customs if he has anything to declare; he replies: "Nothing but my genius."
    1894-Birthday of Norman Rockwell, American artist and illustrator especially noted for his realistic and homey magazine cover for the “Saturday Evening Post.” Born at New York, NY, he died at Stockbridge, MA, Nov 8, 1978.
    1895-Birthday of vocalist Frankie “Half-Pint” Jaxon, Montgomery, AL
http://www.redhotjazz.com/jaxon.html
http://www.amazon.com/exec/obidos/ASIN/B0000046G0/inktomi-musicasin-20/
002-1958450-0644835
    1895-Birthday of trumpet paler Kid Valentine, Reserve, LA
http://www.musica.co.uk/musica/screen__ARTISTDB/shop__MUS/artist__Valentine,
~'Kid'~Thomas~(1).htm
http://www.thejukejoint.com/amcd-049.html
http://www.arhoolie.com/titles/346.shtml
http://www.rainerjazz.com/Interpreten/Thomas_Kid_001.htm
http://dspace.dial.pipex.com/jazzitoria/moose.htm
    1898-Birthday of Lil Hardin Armstrong, pianist, singer, orchestra leader in Chicago, had her own band in 1920's, also played with King Oliver. Married Louis Armstrong who played in HER band in 1925 (divorced 1938),. Led all-women and all-men bands, toured Europe, and was the house musician for Decca records. Born Memphis, Tennessee. Lil studied music at Fisk University, the Chicago College of Music and the New York College of Music where she earned her doctorate in 1929. Lil also studied fashion and in 1942, she staged her own fashion show in New York City. Lil's first job in the music field was playing sheet music at Jones's Music Store in Chicago in 1917. In 1920 Lil formed her own band at the Dreamland Cafe and in 1921 she joined King Oliver's Creole Jazz Band where she met Louis Armstrong. Lil and Louis married on February 5, 1924.
Lil became the driving force behind Louis career. She taught him to read music and wrote the music for many of the tunes he composed. She was the feature singer with Louis' Hot Five and Hot Seven bands. Lil and Louis separated in 1931 and they divorced in 1938 although they remained close friends until they died.
During the 1930s Lil led several other recording groups, including the Hot Shots and the New Orleans' Wanderers. Lil also starred in Broadway shows including "Shuffle Along" and "Hot Chocolates."
During the late 1930's Lil recorded for Decca Records. She moved back to Chicago in the early 1940s and performed as a soloist in Chicago nightclubs including the Tin Pan Alley Club, the Mark Twain Lounge and the Garrick Stage Bar. She also made several European tours during this period. Lil continued to cut records until 1963 and stayed active in music all her life.
Lil Hardin Armstrong died of a massive heart attack on August 27, 1971 while playing the "St. Louis Blues" during a Louis Armstrong Memorial Concert just a short two months after Louis, himself passed on. She was 73 years old.
http://www.redhotjazz.com/lil.html
http://www.duke.edu/~rmc5/lil.htm
http://www.washboardwailers.nl/lil2.html
http://www.meister.u-net.com/dixie/lil_hardin.htm
http://www.heptune.com/lyrics/artists/hardinli.html
http://www.africana.com/Articles/tt_126.htm
http://www.multirace.org/firstday/stamp84.htm
    1899 -16º F (-27º C), Minden LA (state record)
    1903-Jack Johnson, first Black heavyweight champion, wins the “Negro Heavyweight Title.”
http://www.famoustexans.com/jackjohnson.htm
http://espn.go.com/sportscentury/features/00014275.html
http://cyberboxingzone.com/boxing/jjohn.htm
http://www.amazon.com/exec/obidos/ASIN/B0000027GU/inktomi-musicasin-20/
002-1958450-0644835
http://www.siteofthewest.com/search/historical/personalities/jack_johnson/index.shtml
    1907-Birthday of James Michener, American author, born at New York, NY. Best known for massive, detailed novels, many of which were born in his workshop with assistants and researchers. His “Tales of the South Pacific” was the basis for the popular “South Pacific.” A prolific author, his other works include Sayonara, Iberia, Hawaii, Centennial and Texas. Died at Austin, TX, Oct 17, 1997.
http://www.kirjasto.sci.fi/michene.htmHis
    1910 -- Mary Harris "Mother" Jones addresses Milwaukee brewery workers. Mother Jones spent two months working alongside women bottle-washers in one of the breweries during a period when she was not on the United Mine Workers payroll. Her report on their working conditions went like this:
"Condemned to slave daily in the wash-room in wet shoes and wet clothes, surrounded with foul-mouthed, brutal foremen . . . the poor girls work in the vile smell of sour beer, lifting cases of empty and full bottles weighing from 100 to 150 pounds, in their wet shoes and rags, for they cannot buy clothes on the pittance doled out to them. . . . Rheumatism is one of the chronic ailments and is closely followed by consumption . . . An illustration of what these girls must submit to, one about to become a mother told me with tears in her eyes that every other day a depraved specimen of mankind took delight in measuring her girth and passing comments."
    1912 -- 32,000 textile mill workers now involved in the "Bread and Roses" strike in Lawrence, Massachusetts. The Bread and Roses strike began last month and lasts for over nine weeks. Despite collusion by government and mill owners and their goons, strikers will not waver, even when 18-year-old Syrian worker John Rami is killed, when Annie Welzenbach and her two teenage sisters are arrested and dragged from their beds in the middle of the night, or when 200 police draw their clubs on February 19th and go after 100 women pickets, knocking them to the ground and beating them.
http://www.holtlaborlibrary.org/Lawrence.html
    1913-The 16 th amendment was ratified, granting Congress the authority to levy taxes on income.
    1917 - Downtown Miami, FL, reported an all-time record low of 27 degrees.
    1918-Birthday of great comedian Joey Bishop, perhaps best known as a member of the Frank Sinatra “Rat Pack;” but also a favorite of the Jack Paar Show, born The Bronx, New York, under the name Joseph Abraham Gottlieb.
http://home.arcor.de/dinoandfriends/joey_engl/joeybishop_e.htm
http://www.imdb.com/name/nm0084086/
    1919 - The first meeting of the League of Nations took place in Paris.
1919-Birthday of trumpet player Eugene “Snooky” Young, Dayton, O
http://www.artistdirect.com/music/artist/bio/0,,512643,00.html?artist=Snooky+Young
http://www.vh1.com/artists/az/young_snooky/bio.jhtml
http://www.theiceberg.com/artist/26086/snooky_young/
    1922 -Fatty Arbuckle trial ends in hung jury Comic actor and director Roscoe "Fatty" Arbuckle's trial ends in a hung jury on this day in 1922. Arbuckle, who worked with Charlie Chaplin and launched Buster Keaton's career, was accused of manslaughter after the death of starlet Virginia Rappe. Rappe died of a ruptured bladder several days after the 350-pound Arbuckle allegedly sexually assaulted her at a wild drinking party in San Francisco. After two hung juries, Arbuckle was acquitted, but his films were banned and withdrawn from circulation. He directed two features and several short films under the pseudonym William Goodrich. Arbuckle died in 1933 at the age of 46.
    1926-Birthday of great comedian Shelly Berman,born Chicago, Illinois
    1927-Bix Biederbecke and Tram record “Singin' the Blues,” Okeh 40772.
1927 - United States President Calvin Coolidge signed a bill creating the Federal Radio Commission, "to bring order out of this terrible chaos." The president was speaking about the nation's then unregulated radio stations.
    1928 – Birthday of Frankie Vaughn (Abelson) (singer: Garden of Eden, Tower of Strength)
    1929 – Birthday of Russell Arms (singer: Your Hit Parade)
    1930 - United States President Herbert Hoover appointed Charles Evans Hughes to be the Chief Justice of the United States Supreme Court.
    1931 -- US: The Arkansas state legislature passes a motion to pray for the soul of H. L. Mencken after he calls the state "the apex of moronia."
http://www.io.com/~gibbonsb/mencken.html
http://us.history.wisc.edu/hist102/photos/assets/photos/1047.jpg
    1933-- Birthday of alto sax player John Handy
(My late father's favorite sax player. He and violinist Mike White would visit my late father often. He helped them get jobs on TV and for events early in their career.)
http://www.sfsu.edu/~allarts/handy/handybio.html
http://www.johnhandy.com/
http://www.saxworx.com/handybio.htm
http://www.vh1.com/artists/az/handy_john_1_/bio.jhtml
http://www.allmusic.com/cg/x.dll?p=amg&sql=B6658
Abraham Lincoln Observance, Oregon, annually on the first Monday in February
    1935-Birthday of guitarist Johnny “Guitar” Watson, Houston, TX, died May 18, 1996.
http://www.soulwalking.co.uk/Johnny%20Guitar%20Watson.html
http://www.rockabillyhall.com/JohnnyWatson.html
http://www.cnn.com/SHOWBIZ/9605/18/watson/
    1935-Birthday of singer Sugar Boy Williams ( Jody Williams )
http://www.allblues4u.com/jody/jwilliams.htm
http://www.joes-corner.de/chicago2001/photos_jody1.htm
http://ottawa-bluesfest.ca/view_artist_profile.php?artistID=60
http://www.bluesbeforesunrise.com/bbssetlist022402.html
    1939 -- The Baltimore Museum of Art exhibit Contemporary Negro Art opens. The exhibit, which will run for 16 days, will feature works by Richmond Barth, Aaron Douglas, Archibald Motley, Jr., and Jacob Lawrence's Toussaint L'Ouverture series.
http://sheldon.unl.edu/HTML/ARTIST/Lawrence_J/SSII.html
http://www.jacoblawrence.org/
    1940-Birthday of pro football Hall of Fame quarterback Francis Asbury “Fran” Tarkenton, Richmond, VA.
    1941-Jimmy Dorsey Band records, “Amapola,” Decca 3692.
1941-Birthday of Hall of Fame golfer Carol Mann, born Buffalo, NY.
    1943- The Allied troopship S.S. Dorchester was torpedoed by a German sub and went down with a loss of 600 lives. As it sank, four chaplains gave up their lifejackets to shipmates, thereby also perishing in the icy waters. The bravery of Rev. Clark Poling (Dutch Reformed), Rev. George Lansing Fox (Methodist), Father John Washington (a Catholic priest) and Alexander David Goode (a Jewish rabbi) led Congress afterward to mark February 3rd as "Four Chaplains Day."
http://search.gospelcom.net/chi/DAILYF/2002/02/daily-02-03-2002.shtml
http://www.homeofheroes.com/brotherhood/chaplains.html
    1944---POWERS, LEO J. Medal of Honor
Rank and organization: Private First Class, U.S. Army, 133d Infantry, 34th Infantry Division. Place and date: Northwest of Cassino, Italy, 3 February 1944. Entered service at: Alder Gulch, Mont. Birth: Anselmo, Nebr. G.O. No.: 5, 15 January 1945. Citation: For conspicuous gallantry and intrepidity at risk of life above and beyond the call of duty. On 3 February 1944, this soldier's company was assigned the mission of capturing Hill 175, the key enemy strong point northwest of Cassino, Italy. The enemy, estimated to be at least 50 in strength, supported by machineguns emplaced in 3 pillboxes and mortar fire from behind the hill, was able to pin the attackers down and inflict 8 casualties. The company was unable to advance, but Pfc. Powers, a rifleman in 1 of the assault platoons, on his own initiative and in the face of the terrific fire, crawled forward to assault 1 of the enemy pillboxes which he had spotted. Armed with 2 hand grenades and well aware that if the enemy should see him it would mean almost certain death, Pfc. Powers crawled up the hill to within 15 yards of the enemy pillbox. Then standing upright in full view of the enemy gunners in order to throw his grenade into the small opening in the roof, he tossed a grenade into the pillbox. At this close, the grenade entered the pillbox, killed 2 of the occupants and 3 or 4 more fled the position, probably wounded. This enemy gun silenced, the center of the line was able to move forward again, but almost immediately came under machinegun fire from a second enemy pillbox on the left flank. Pfc. Powers, however, had located this pillbox, and crawled toward it with absolutely no cover if the enemy should see him. Raising himself in full view of the enemy gunners about 15 feet from the pillbox, Pfc. Powers threw his grenade into the pillbox, silencing this gun, killing another German and probably wounding 3 or 4 more who fled. Pfc. Powers, still acting on his own initiative, commenced crawling toward the third enemy pillbox in the face of heavy machine-pistol and machinegun fire. Skillfully availing himself of the meager cover and concealment, Pfc. Powers crawled up to within 10 yards of this pillbox fully exposed himself to the enemy gunners, stood upright and tossed the 2 grenades into the small opening in the roof of the pillbox. His grenades killed 2 of the enemy and 4 more, all wounded, came out and surrendered to Pfc. Powers, who was now unarmed. Pfc. Powers had worked his way over the entire company front, and against tremendous odds had single-handedly broken the backbone of this heavily defended and strategic enemy position, and enabled his regiment to advance into the city of Cassino. Pfc. Powers' fighting determination and intrepidity in battle exemplify the highest traditions of the U.S. Armed Forces.
    1945-Birhday of broadcaster and Po Football Hall of Fame quarterback Robert Allen “Bob” Griese.
    1945-Birthday of tuba player Bob Stewart, Sioux Falls, SD
http://www.centrohd.com/biogra/s1/bob_stewart_b.htm
http://www.view.com/stewart-bio.html
http://www.allmusic.com/cg/amg.dll?p=amg&sql=Bu2jx7i8jg7or
    1946—Top Hits
Symphony - The Freddy Martin Orchestra (vocal: Clyde Rogers)
I Can't Begin to Tell You - Bing Crosby with the Carmen Cavallaro Orchestra
Let It Snow - Vaughn Monroe
Guitar Polka - Al Dexter
    1947-North America's Coldest Record Temperature: at Snag, in Canada's Yukon Territory, a temperature of 81 degrees below zero ( Fahrenheit) was recorded, a record low for all of North America.
1947 - The temperature at Tanacross, AK, plunged to a record 75 degrees below zero.
1947 – Birthday of American author Paul Auster, born Newark, New Jersey.
http://webspace.yline.com/~thomas.hartl/austres.htm
http://www.baruch.cuny.edu/slas/harman/auster.html
    1950 - The Ames Brothers, Ed, Gene, Joe and Vic, reached #1 on the pop music charts for the first time, with "Rag Mop". The brothers had many successes in their recording career: "You You You" [1953], "The Man with the Banjo" and "The Naughty Lady of Shady Lane" [1954], "Tammy" and "Melody d'Amour" [1957]. Ed Ames was formerly with the Russ Morgan band, after the brothers broke up in the late 1950s, he went on to have a successful television and recording career. In the 1960s, he recorded the hits "My Cup Runneth Over" and "Who Will Answer". On television, he played Mingo on "Daniel Boone". Ed is remembered for one of the "Tonight Show's" funniest moments when he competed with host, Johnny Carson, in a hand axe-tossing contest. Mingo won with hilarious consequences still shown in every celebration of "The Tonight Show".
    1951 - For the sixth time, Dick Button won the United States figure skating title.
1951 - Tennessee Williams' play, "The Rose Tattoo", opened on Broadway.
    1953 - Marine archeologist Jacques Cousteau became renowned worldwide for documenting his deep sea explorations. His first and most-lasting work, The Silent World, was published on this date. He attracted world attention when he salvaged a 1,000-pound Roman freighter near Marseilles. While in the French navy, he and engineer Emil Gargon invented the aqualung. However, Cousteau is best known for his documentaries and book.
    1953--MURPHY, RAYMOND G. Medal of Honor
Rank and organization: Second Lieutenant, U.S. Marine Corps Reserve, Company A, 1st Battalion, 5th Marines, 1st Marine Division (Rein.). Place and date: Korea, 3 February 1953. Entered service at: Pueblo, Colo. Born: 14 January 1930, Pueblo, Colo. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty as a platoon commander of Company A, in action against enemy aggressor forces. Although painfully wounded by fragments from an enemy mortar shell while leading his evacuation platoon in support of assault units attacking a cleverly concealed and well-entrenched hostile force occupying commanding ground, 2d Lt. Murphy steadfastly refused medical aid and continued to lead his men up a hill through a withering barrage of hostile mortar and small-arms fire, skillfully maneuvering his force from one position to the next and shouting words of encouragement. Undeterred by the increasing intense enemy fire, he immediately located casualties as they fell and made several trips up and down the fire-swept hill to direct evacuation teams to the wounded, personally carrying many of the stricken marines to safety. When reinforcements were needed by the assaulting elements, 2d Lt. Murphy employed part of his unit as support and, during the ensuing battle, personally killed 2 of the enemy with his pistol. With all the wounded evacuated and the assaulting units beginning to disengage, he remained behind with a carbine to cover the movement of friendly forces off the hill and, though suffering intense pain from his previous wounds, seized an automatic rifle to provide more firepower when the enemy reappeared in the trenches. After reaching the base of the hill, he organized a search party and again ascended the slope for a final check on missing marines, locating and carrying the bodies of a machine gun crew back down the hill. Wounded a second time while conducting the entire force to the line of departure through a continuing barrage of enemy small-arms, artillery, and mortar fire, he again refused medical assistance until assured that every one of his men, including all casualties, had preceded him to the main lines. His resolute and inspiring leadership, exceptional fortitude, and great personal valor reflect the highest credit upon 2d Lt. Murphy and enhance the finest traditions of the U.S. Naval Service.
    1954—Top Hits
Oh! My Pa-Pa - Eddie Fisher
Secret Love - Doris Day
Make Love to Me - Jo Stafford
Bimbo - Jim Reeves
    1956-Autherine Lucy becomes the first Black student at the University of Alabama. She was suspended four days later following a riot and expelled on February 29.
http://www.rochester.k12.mn.us/jm/teacherpages/dastutz/civrigthsper1/chanellet.htm
http://www.osm.ua.edu/corolla/100yrs/27.html
http://www.datelinealabama.com/article/2002/11/21/3352_alumni_art.php3
    1956 -- Elvis Presley, Jerry Lee Lewis, Carl Perkins and Johnny Cash hold a recording session at Sun Studios in Memphis. The sessions are later named the "Million Dollar Quartet.”
    1957-Birthday of Marlon Riggs , Fort Worth, Texas, Fearless American filmmaker, black activist, AIDS martyr, died 1964.
http://www.newsavanna.com/gravity/BlackIs/biographyofmarl_419.html
http://www.colorado.edu/journals/standards/V5N1/marlonintro.html
http://www.colorado.edu/journals/standards/V5N1/riggs_release.html
http://www.lib.berkeley.edu/MRC/RiggsInterview.html
    1958-The Royal Teens' biggest hit, "Short Shorts" enters the US record charts on its way to number 3. The song was originally an instrumental warm up number that the group added silly lyrics to. The tune was recorded in about twenty minutes of left over studio time and released after a record label executive took a liking to it. I can still remember the lyrics and sing the song.
    1959—The anniversary of the death of rock-and-roll legend Charles Hardin “Buddy” Holly. Many of his songs came from a wire recording he made in his apartment, that were put onto records after his death. “ The Day the Music Died” singer Don McLean's song, American Pie, “ is the date on which Holly was killed in a plane crash in a cornfield near Mason City, IA, along with J.P. Richardson, “ The Big Bopper,” and Richie Vallens, “That' Be the Day.” Holly was born September 7, 1936, at LubbockTX. While on a concert tour, rock and roll singers Buddy Holly, age 22, Ritchie Valenz, age 17, and J. P. "The Big Bopper" Richardson, age 24, died when the airplane they were traveling in crashed only minutes after takeoff into a cornfield near Mason City, Iowa. The plane's pilot was not certified to fly by instruments, which was what he attempted to do. It was determined that he could not see the stars nor the lights below because of the visual obstruction of falling snow, and he misread the instrument panel. When the artists failed to arrive in Fargo for the concert, the then-unknown Bobby Vee took Buddy Holly's place. He greatly influenced rock groups and singers that came later, such as The Beatles, The Rolling Stones, and Bob Dylan. Valenz had just recorded two back-to-back hits, Donna and La Bamba. The tragic news of the three young entertainers' deaths devastated the world. Holly was buried in his home town of Lubbock, Texas, and more than 1,000 people attended the funeral.
Holly, just 22, had started singing country music with high school friends but switched to rock and roll after opening for various rock singers, including Elvis Presley. By the mid-1950s, Holly and his band had a regular radio show and had toured internationally, playing hits like "Peggy Sue," "Oh, Boy!," "Maybe Baby," and "Early in the Morning." Holly wrote all his own songs, and much of his work was released after his death, influencing such artists as Bob Dylan and Paul McCartney. Another crash victim, J.P. "The Big Bopper" Richardson, 28, had started out as a disk jockey but began writing songs during his two years in the army. He wrote songs for other artists, including "Running Bear," a chart-climbing song recorded by singer Johnny Preston. The most famous work performed by Richardson himself was the rockabilly "Chantilly Lace," which made the Top 10. He developed a stage show based on his radio persona, "The Big Bopper."
The third crash victim was Ritchie Valens, born Richard Valenzuela, who was only 17 when the plane went down but had already scored a No. 2 hit with the ballad "Donna." He had also hit No. 22 with "La Bamba," an upbeat number based on a traditional Mexican wedding song. In 1987, Valens' life was portrayed in the movie La Bamba, and the title song, performed by Los Lobos, became a No. 1 hit. Singer Don McLean memorialized Holly, Valens, and Richardson in the 1972 No. 1 hit "American Pie," which was rerecorded by Madonna in 2000
    1962—Top Hits
Peppermint Twist - Joey Dee & The Starliters
Can't Help Falling in Love - Elvis Presley
Norman - Sue Thompson
Walk on By - Leroy Van Dyke
1965-African-American Geraldine McCullough wins Widener Gold Medal for Sculpture.
http://www.it.famu.edu/afroam/Black_History/Culture/Art/Geraldine_McCullough/
geraldine_mccullough.html
    1967- The Beatles record "A Day In The Life"
    1968-The Beatles record Paul McCartney's song "Lady Madonna" at EMI's Abbey Road studios. They accomplished this in just three takes.
    1968 - An Oxford, Ohio group called the Lemon Pipers saw their only Billboard chart-maker, "Green Tambourine", reach #1.
1968-- The Lemon Pipers' "Green Tambourine" hits #1
    1969- John Lennon, George Harrison and Ringo Starr hire Allen Klein as the Beatles' business manager. Paul McCartney dissents and the hiring is contributing factor to the group's breakup.
1969- The Steve Miller Band records "My Dark Hour"
    1970—Top Hits
I Want You Back - The Jackson 5
Venus - The Shocking Blue
Whole Lotta Love - Led Zeppelin
A Week in a Country Jail - Tom T. Hall
    1971- Country singer Lynn Anderson was awarded a gold record for her recording of Joe South's "Rose Garden," which topped both the country and pop charts.
    1973-- Elton John's "Crocodile Rock" hits #1.
1973-President Richard Nixon signed the Endangered Species Act into law.
1973 -- Convicted mass-murderer Juan V. Corona sentenced to 25 terms of life imprisonment (which, it was stipulated, he was to serve consecutively).
http://www.angelfire.com/oh/yodaspage/corona.html
http://darkday.tripod.com/a-h/corona.html
    1976- Elvis Presley records "Solitaire"
    1978—Top Hits
Baby Come Back - Player
Short People - Randy Newman
Stayin' Alive - Bee Gees
Out of My Head and Back in My Bed - Loretta Lynn
1978- It's the 19th anniversary of Buddy Holly's death. It's also the day on which his birthplace in Lubbock, Texas had been scheduled for demolition by the Lubbock Building Department. The Department had no idea the house had any association with the town's most famous son. However a few days ago, a man bought the place, moved it intact, outside the city limits and fixed it up so his family could move in. He too, did not know the significance of the house and became the man who save Buddy Holly's birthplace by accident.
1978- "Dead Man's Curve," a made-for-TV-movie about surf-rock singer Jan & Dean, airs on ABC-TV. Jan and Dean were classmates at University High School, West Los Angeles, California.
    1979-A sold-out crowd packs into the Surf Ballroom in Clear Lake, Iowa, for a concert commemorating the 20th anniversary of the place crash that killed Buddy Holly, Ritchie Valens and the Big Bopper. Wolfman Jack hosts with featured performances by Del Shannon, Jimmy Clanton and the Drifters. Disco was in. By the way, She is the first female artist to have three number one solo singles in one year ("MacArthur Park," "Hot Stuff" and "Bad Girls") and she is the only artist to have three number one double albums in a row ("Live And More," "Bad Girls," and "On The Radio").
http://www.delafont.com/music_acts/Donna-Summer.htm
http://www.discomusic.com/
    1979-- The Blues Brothers' album Briefcase Full of Blues hits #1.
    1982- The city of Memphis declared "Bar-Kays Day" in honor of the band that began as Otis Redding's backup group. Several members of the Bar-Kays died in the 1967 plane crash that killed Redding, but the group survived to have such hits as "Soul Finger" and "Shake Your Rump to the Funk."
    1986 - The United States Weather Bureau officially named January of 1986 the warmest January since 1953. The average temperature in United States for that month was 31989, on the 30th anniversary of Buddy Holly's death, Bobby Vee and the Crickets played a memorial concert before 1,700 fans in Fargo, North Dakota. Holly, Ritchie Valens and the Big Bopper were on their way to Fargo when their plane crashed. It was Vee who took Holly's place in Fargo the night of the tragedy. It was the beginning of his career, and Vee went on to place 38 hits on Billboard's Hot 100 chart. 8 degrees.
1986—Top Hits
That's What Friends are For - Dionne & Friends
Burning Heart - Survivor
I'm Your Man - Wham!
Just in Case - The Forester Sisters
    1988 - Arctic air continued to invade the central U.S. The temperature at Midland TX plunged from a record high of 80 degrees to 37 degrees in just three hours. Morning lows in the higher elevations of Wyoming were as cold as 38 degrees below zero. Heavy snow blanketed southwestern Colorado, with 16 inches reported at Steamboat Springs.
    1989 - A winter storm brought heavy snow and high winds to the western U.S. Up to three feet of snow blanketed the Sierra Nevada of California, and buried parts of northeastern Washington State under three feet of snow in five days. High winds across Washington State reached 75 mph, with gusts to 105 mph. The morning low of 29 degrees below zero at Casper WY was a record for the month of February. Wisdom MT hit 53 degrees below zero. Missoula MT reported a wind chill reading of 85 degrees below zero.
    1990 - Thunderstorms developing ahead of a cold front produced severe weather over the central Gulf coast states during the afternoon and evening hours. Thunderstorms spawned seven tornadoes in Alabama, including one which touched down north of Birmingham injuring fifteen people and causing nearly three million dollars damage. A tornado at Margaret injured eleven persons and caused a million dollars damage
1990- Quebec teen heartthrob Roch Voisine (ROCK VWAH-ZINN') won the best international French-language album award at a ceremony in Paris. His album "Helene" was at the top of the French chart at the time.
1990 - Jockey Willie Shoemaker raced for the 40,352nd and last time. He finished fourth at the Santa Anita Racetrack aboard 7-10 favorite "Patchy Groundfog". Shoemaker won 1100 stakes and 8,833 wins (a world record that stood until Laffit Pincay Jr. topped it in 1999) in 40,350 races. In 42 years, Shoemaker won 11 Triple Crown races, including four Kentucky Derbies, five Belmont Stakes, and three Preakness Stakes; 1,009 stakes races; and 10 national money titles. He earned more than $123 million in purses, about $10 million of which went into his pocket. (Shoemaker's life took a tragic turn on April 8, 1991, when he was left paralyzed from the neck down after an auto accident.)
    1995 - Air Force Lt. Col. Eileen Collins became the first woman space-shuttle pilot this day as the space shuttle "Discovery" (STS-63) blasted off from Cape Kennedy, Florida. Wearing a scarf that belonged to Amelia Earhart and carrying the pilot's license of early endurance flight champion Bobbi Trout, as well as items belonging to members of the Women Air force Service Pilots who ferried military aircraft in the U.S. during WWII (and died) and from the women who applied and passed initial tests in NASA's Mercury program in the 1950's, but were turned down because of their sex, Lt. Colonel Eileen Collins, 38, lifted off from Cape Canaveral in the co-pilot's seat, as the first woman to pilot an American space craft. An Air Force test pilot, she was selected for the NASA space program in 1990, the first woman chosen as a space shuttle pilot. In December 1994, two more women were chosen.
http://starchild.gsfc.nasa.gov/docs/StarChild/whos_who_level2/collins.html
http://www.jsc.nasa.gov/Bios/htmlbios/collins.html
http://www.undelete.org/military/astronauts.html
    1996 - Rap artist Queen Latifah was stopped by a California Highway Patrol officer and arrested for reportedly possession of a concealed, loaded handgun, possession of marijuana, and speeding as she was traveling west on Interstate 10. Pending the results of a sobriety test, she could also face DUI charges. The Grammy-winning singer was known for her anti-drug and anti-violent messages in her music, and was a popular actress on the television sitcom Living Single . She is perhaps best known now for her role in the movie “Chicago.”
    1996-The first American serviceman killed during the Bosnia conflict was Sergeant First Class Donald Allen Dugan of Ridgeway, OH, a member of the peacekeeping force organized by the North Atlantic Treaty Organization that entered Bosnia-Hercegovina in December, 1995. Dugan was killed in an explosion in Sarajevo, Bosnia. The cause of the explosion was not determined.
1996-Blues Traveler's "Run-Around" was on Billboard's Hot 100 singles chart for the 46th straight week, breaking the record held by Tag Team's "Whoomp! (There It Is)" and Crystal Waters' "100 Per Cent Pure Love."
    1998-Winger Dino Ciccarelli of the Florida Panthers became the ninth player in NHL history to score 600 regular-season goals. Ciccarelli tallied in the third period of a game against the Detroit Red Wings. The power-play goal earned Florida a 1-1 tie.
1998- Attorneys general subpoena Microsoft
The antitrust suit against Microsoft expanded as attorneys general from several states issued new subpoenas regarding Microsoft's business practices in the pending launch of Windows 98. Microsoft's battle with the government during the next year would reveal secret deals with online providers, hardball tactics for promoting Internet Explorer, and other questionable practices. The government claimed such practices were ruthless and anticompetitive, but Microsoft called them just plain good business. However, Microsoft won on one point this day: An appeals judge agreed to suspend the investigation of a "special master"-an expert on Internet law-to whom Microsoft objected.
    2001 - The XFL (Xtreme Football League) debuted. The league was created by Vince McMahon, mastermind behind the WWF (World Wrestling Federation). What was promoted as “Football the Way It Was Meant to Be Played” soon faded into painful memories for TV viewers and fans. The WWF apparently thought that it could pull in millions of wrestling fans to support the league, but was shocked when it discovered that actual football fans were the major supporters of the XFL, and these football fans were turned off by the wrestling-show influence on the games.
    2002- XXXVI-As possibly the biggest underdog in SB history (14 points), the Patriots won the hearts of much of America by shutting down the "greatest show on turf" St. Louis Rams and then kicking a filed goal on the final play of the game with the final outcome 20-17. After struggling to a 5-11 record in 2000, they began this season 1-3 and lost their starting quarterback, Drew Bledsoe, to injury. But backup Tom Brady replaced him and eventually led the team to nine straight wins, including the Super Bowl. February 1,2003, Adam Vinatieri repeated his Super Bowl performance of two years ago, nailing a 41-yard field goal with nine seconds to play to give the Patriots a 32-29 Super Bowl win over the Carolina Panthers.
    2008--The Giants (14–6) won 17–14 over the previously undefeated Patriots (18–1). In doing so, the Giants became the first NFC wild card team to win a Super Bowl. They also became the sixth wild card seed from either conference, the fifth in eleven years, and second in three years, to earn an NFL championship. The first three quarters of Super Bowl XLII were largely a defensive battle, as both teams combined for only 10 points entering into the final quarter, with the Patriots leading 7–3. New York finally scored their first touchdown with 11:05 left in the game to take a 10–7 lead. Faced with third down and five yards to go from his own 44-yard line with 1:15 remaining, Giants quarterback Eli Manning avoided what looked like a sack, completed a 32-yard pass to wide receiver David Tyree, who made a leaping catch by pinning the ball on his helmet, which put them at New England's 24-yard-line. Four plays later, New York wide receiver Plaxico Burress caught the winning touchdown with 0:35 left.[13] Manning, who threw both of his touchdown passes in the fourth quarter, was named the Most Valuable Player

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