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Leasing News is a web site that posts information, news, and
entertainment for the commercial bank, finance and leasing industry

kitmenkin@leasingnews.org
   


Los Angeles, CA

Credit Analyst
 Review and Approve Applications/Vendors

Documentation/Funding Staff
 Leasing/Banking experience a plus

Sales
Experience preferred. Salary, Commission
Bonuses and Benefits.

For more description of duties, please click on position

www.pacificcapco.com
At Pacific Capital Companies our mission is to provide the American business sector with fast, innovative, financing solutions
to grow their companies and exceed their goals.


Monday, February 4, 2013



Congrats to the Baltimore Ravens


Today's Equipment Leasing Headlines

Tony Golobic Receives Leasing News Person of Year Award
  ---- Presented by Bruce Kropschot   
   Classified Ads---Asset Management/Collections
Sentencing On! "Operation Lease Fleece"
 ---No Postponement for Mark McQuitty
  Broker’s Responsibility to Obtain
   California Lender’s License
    By Tom McCurnin
     Leasing News Improves #1 Ranking
      by Alexa Reports
       Classified Ads---Help Wanted
Email-Correspondence at Work While Job Hunting
 Career Crossroad---By Emily Fitzpatrick/RII
  Hiring the Right Salesperson
   Sales Makes it Happen by Steve Chriest
    Leasing Schools/Franchisors
 Leasing 102 by Mr. Terry Winders, CLP
  Leasing Used Equipment
   Top Stories January 28--February 1
    (You May Have Missed)
      Yorkie, Yorkshire Terrier
        The Villages, Florida Adopt-a-Dog
News Briefs---
 49ers legends embroiled in lawsuit that could shake up Silicon Valley
  Toyota back on top, carmakers cut fuel cell deal
   FCC plan would redefine wireless industry
    Retailers that will close the most stores
     Boeing 787’s problems blamed on outsourcing, lack of oversight
      Super Bowl Commercials: Clydesdale wins Ad Meter by a nose

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

  You May have Missed---
   SparkPeople--Live Healthier and Longer
    Sports Briefs---
      California Nuts Brief---
       "Gimme that Wine"    
          This Day in American History
         SuDoku
           Daily Puzzle
             GasBuddy
               Weather, USA or specific area
                 Traffic Live----

######## surrounding the article denotes it is a “press release” and was not written by Leasing News nor information verified, but from the source noted. When an article is signed by the writer, it is considered a “by line.” It reflects the opinion and research of the writer.


Please send Leasing News to a colleague and ask them to subscribe.
We are free!


[headlines]
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Tony Golobic Receives Leasing News Person of Year Award
Presented by Bruce Kropschot


Tony Golobic, CEO, Bruce Kropschot, Leasing News Advisor

Tony Golobic, CEO, GreatAmerica Financial Services received the 2012 Leasing News Person of the Year engraved Crystal Award at the Don Cesar Hotel, St. Pete Beach, Florida, from Leasing News Advisor Bruce Kropschot, Senior Managing Director and Merger & Acquisition Advisory Practice Leader, The Alta Group. Bruce drove up from his home in the Villages with his wife Barbara, about half way from the Golobic's home in Florida, and they had lunch with Tony and Magda Golobic.

(Design, actual crystal award is engraved, difficult to read in jpeg)

Leasing News Advisory Board chose Mr. Golobic "For outstanding leadership and direction, particularly recognizing the management and staff in divisions of executive leaders, office of the president, senior leaders, managing directors, sales leaders, and the various departments of finance/treasury, legal, HR, information technology, corporate communications/Marketing.

http://www.greatamerica.com/about/executive-bios/default.aspx"

Leasing News appreciates Bruce and his wife as well as the Golobics for the photograph.

Leasing Person of the Year Article:
http://leasingnews.org/archives/Jan2013/1_07.htm#poy

Reaction: Leasing News Person of the Year 2012 Selection
http://leasingnews.org/archives/Jan2013/1_09.htm#reaction



[headlines]

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Classified Ads---Asset Management/Collections




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

San Francisco, CA
Ten years experience setting residuals, negotiating leases and remarketing equipment across a broad spectrum of large ticket asset types including marine, intermodal, mining, energy, manufacturing.
geoffwalshe@yahoo.com

 


Long Grove, Illinois

17+ years Comdisco, accounts receivable, collections, customer service, plus senior management, seeking full time or part time assignment. 847-359-4066roborgaard@aol.com | Resume

Port St Lucie, FL
20+ yrs exp. commercial collection/late stage specialist. 
Prefer to work from home based office or transfer to Sarasota areamichaelgalan@comcast.net | Resume


Free Posting for those seeking employment in Leasing:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

All “free” categories “job wanted” ads:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

 

 

[headlines]
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Sentencing On! "Operation Lease Fleece"
No Postponement for Mark McQuitty


November 7, 2007, in an FBI investigation dubbed "Operation Lease Fleece," over 23 were indicted for disguised "sale/leasebacks" or leases that exceeded the "soft costs" such as software and installation. Many transactions were on ghost equipment. Later nine more were indicted.

Mark McQuitty, co-founder CapitalWerks, Preferred Lease is scheduled to be sentenced today by Judge Cormac J. Carney. Looks like no more postponements.

His partner at CapitalWerks/Preferred Leasing, James "Jim" Raeder, was sentenced December 17, 2012:

12 months halfway house
1 day jail (equals time served)
300 hours community service
Three years’ probation
No fine and no restitution

Adam S. Zuckerman, Laguna Beach, California, head of BrickBanc, Costa Mesa, California, one of the three reported ringleaders was sentenced to 37 months in federal prison with three years of supervised release by Judge Cormac J. Carney.

In the McQuitty’s court docket records: four files are sealed---most likely testimony and evidence given as part of his agreement with the US Deputy Attorney Jennifer Waier for a reduced sentence (1).

Not sealed is the six page "DEFENDANT’ S POSITION REGARDING SENTENCING AND RESPONSE TO PRESENTENCE REPORT." In it McQuitty pleads guilty to all the government charges, but believes the “…the offense level should be Level-24 and not Level-25 as recommended in the Presentence Report....The Defendant’s Category III in Criminal History is due entirely to his drinking problem. That is not to minimize that he broke the law with regard to drinking and driving. Indeed, he has always accepted his responsibility and he has plead guilty in each and every case."

It mentions a DUI arrest with blood alcohol readings of .20 and .21: "...indicate someone who is a regular and heavy user of alcohol...The Presentence Report states that the Defendant “appears to have the ability to make an immediate payment toward a fine ”based upon $24,500 in a joint savings account that the Defendant has with his wife. Item 88, Page 15 in the Presentence Report. The Defendant does not have any money with which to pay a fine. The Presentence Report was written over two years ago. The Defendant is broke, and the money in the account has been used for day-to-day living expenses for the Defendant, his wife, and their four kids. As noted in the Presentence Report, the Defendant has been forced to borrow money from credit cards and equity lines in order to pay his monthly expenses...The Defendant is respectfully asking the Court to recommend that the Defendant be given the 500-Hour Substance Abuse Program given his history of alcohol abuse and related arrests." (2).

McQuitty seems to have been arrested four times for DUI since 2006. He and Raeder started Republic Leasing of Southern California, sold it to join First Sierra which became Sierra Cities. McQuitty became the main sales manager of 130 sales people, who was ultimately fired by Tom Depping for cause in 2000 ( many reasons); interviewed on Leasing News live “Chat Forum” as well in interviews who worked with the salesmen, taking them to the gym, coaching, showing them how to make more money, showing them tricks, and reportedly procuring women for monthly sales meetings for prizes (lets' leave it at that).

Several ex-salesmen related details, as well as these two stories:

"1. I did a lease for $150,000 promotional trailer for a company and it was supposed to have a 10% option. I was given the packet to go get it signed and didn't really review it. The customers really liked me, were young and we got along great. We had lunch, they signed and when I got back Mark told me they had slid in a 100% PUT instead of the 10% buyout because they knew the clients liked me so much. Before I could say or do a thing, he took the Put, placed it in his desk and said, ‘I can’t wait to see the prick’s face in five years'

"2. One of the sales people made a fake fire alarm and above it the note said ‘In case of 60 Minutes Please Pull Here’ so if anyone ever tries to tell you that they were an innocent party they may not have done a crooked deal but they sure knew that there were a lot going on, and I guarantee you everyone pushed the envelope at least once.”

  1. Sealed files McQuitty Docket http://www.leasingnews.org/PDF/SealedfilesMcQuittyDocket.pdf

  1. Presentation filing re: sentencinghttp://www.leasingnews.org/PDF/McQuittydocument.pdf
    (Notice on form is for Pacer)

Other “Operation Lease Fleece” Sentences
(To Compare with leader James “Jim” Raeder)
http://leasingnews.org/archives/Dec2012/12_19.htm#sentences

Operation Lease Fleece Stories
http://www.leasingnews.org/Conscious-Top%20Stories/Lease_Fleece.htm

McQuitty Sentencing Plea:
http://www.leasingnews.org/PDF/McQuittydocument.pdf



Bookmark us


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Broker’s Responsibility to Obtain
California Lender’s License

By Tom McCurnin
Barton, Klugman & Oetting


Brokers Have a Duty to Be Licensed If They Charge a Commission
Paid by a Licensed Funding Source

Since Leasing News wrote about “Current License Regulations and Advice” (1), I’ve been getting calls about the legal obligation of a lease broker to obtain a California Lender’s License. So I thought I would put out some basic information including citations to statutes and an analysis that will clarify the duties of the broker. Some you might be surprised about.

The starting point is 10 California Administrative Code § 1451 which prohibits a licensed financial lender from paying a commission to a broker which is not licensed.

The second statute is California Financial Code § 22204 which defines a broker in two ways,. First, a broker is someone who negotiates loans. Second, is a broker is someone who performs any act as a broker. That second definition is a little squishy and I’m not terribly sure what it means.

So tying these two statutes together, let’s look at some examples.

Hypothetical Number One: Broker, while golfing, introduces borrower to a licensed funding source for a lease of equipment and is paid a commission. Because the broker did not “negotiate a loan,” Broker doesn’t need a license.

Hypothetical Number Two: Broker takes application from borrower, forwards it to a licensed funding source for a lease of equipment, and is paid a commission. Broker needs a license, and funding source may have violated the Financial Lenders Law by paying a commission to someone who performs any act as a broker. I say may have because the broker did not per se negotiate the terms of the loan, merely forwarded the application and pushed some paperwork.

Hypothetical Number Three: Broker takes application from borrower, forwards it to a licensed funding source for a lease of equipment, and negotiates payment terms, and lease length, and is paid a commission. Broker needs a license, and funding source has violated the Financial Lenders Law by paying a commission to someone who performs any act as a broker.

Hypothetical Number Four: Broker takes application from borrower, forwards it to a bank for a lease of equipment, and negotiates payment terms, and lease length, and is paid a commission. Broker does not need a license, because banks are exempt from licensure under the Financial Code.

Hypothetical Number Five: Broker is unlicensed and is not negotiating terms of the loan . We know that the broker is not required to be licensed. However, broker, in his brokerage agreement with the funding source represented that it is “licensed to conduct business in every state in which broker is operating,” or words similar to that (a common clause). It is arguable, that funding source may declare a breach in the agreement because the broker is not licensed as a Financial Lender. This could be a real “gotcha” used by funders.

Bottom Line: I would hate to rest my case on the fact that processing an application and doing paperwork is not acting as a broker, although the statute seems to suggest that interpretation. If brokers are doing business with California borrowers, then I earnestly suggest that the funding sources insist that its brokers be licensed, and likewise suggest that the brokers obtain a license.

-----

(As clarification with Mr. McCurnin, asked him about

"Hypothetical Number Four. Broker takes application from borrower, forwards it to a bank for a lease of equipment, and negotiates payment terms, and lease length, and is paid a commission. Broker does not need a license, because banks are exempt from licensure under the Financial Code.”

(Question asked: "Are you saying to do business with a bank, you need not be licensed in California?

(He responded, "Yes, if brokers are doing business with banks, no license is necessary." Editor)

Tom McCurnin is a partner at Barton, Klugman & Oetting
in Los Angeles, California.


Tom McCurnin
Barton, Klugman & Oetting
350 South Grand Ave.
Suite 2200
Los Angeles, CA 90071
Direct Phone: (213) 617-6129
Cell (213) 268-8291
Email: tmccurnin@bkolaw.com
Visit our web site at www.bkolaw.com

Previous Tom McCurnin Articles:
http://www.leasingnews.org/Conscious-Top%20Stories/leasing_cases.html



 

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

Leasing News Improves #1 Ranking
by Alexa Reports

Despite not being a five day a week media as the other finance/leasing on line media are or utilizing Google analytics and support, Leasing News remains the most read on line trade publication.

In the latest rankings (lower on the list is higher) the other media fell back in the latest report, as Leasing News improved its ranking by Alexa, particularly by readers in the United States, as well as worldwide readership increased by ranking. Amazing rating for an on line trade publication for the banking, finance, and leasing industries.


U.S.
World Wide
Links
Web Site
1
28,883
189,750
216
LeasingNews.com
2
80,234
386,944
90
Lessors.com
3
83,906
540,440
301
Monitordaily.com
4
133,540
970,768
301
ELFAonline.org
5
234,589
1,304,700
86
Worldleasingnews.com
6
241,160
1,602,639
114
Equipment Finance Advisor
7
247,736
1,602,639
64
NEFAssociation.org
8
231,706
1,595,010
114
NAELB.org
9
328,105
1,469,325
152
Commercial Finance Association
10
590,911
3,091,811
119
Equip. Leasing Finance Foundation
11
No Data
3,567,483
30
CLPFoundation.org
12
No Data
23,027,531
20
Assoc. Gov. Leasing/Finance


Thank you readers,
Kit Menkin and staff

 



[headlines]
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Leasing Industry Help Wanted


Los Angeles, CA

Credit Analyst
 Review and Approve Applications/Vendors

Documentation/Funding Staff
 Leasing/Banking experience a plus

Sales
Experience preferred. Salary, Commission
Bonuses and Benefits.

For more description of duties, please click on position

www.pacificcapco.com
At Pacific Capital Companies our mission is to provide the American business sector with fast, innovative, financing solutions
to grow their companies and exceed their goals.





Long Island, New York
Must be willing to visit our office one time per week.

Experienced & Successful Salesperson wanted, salary- leading to draw / commission comp formula.  Excellent Benefits including 401K and paid vacation - subsidiary of Bank Rhode Island, dynamic and well-funded
svenuto@macrolease.com

Since 1969, Macrolease has been operating
as a full service national equipment leasing company,
a subsidiary of Bank Rhode Island


For information on placing a help wanted ad, please click here:
http://www.leasingnews.org/Classified/Hwanted/Hwanted-post.htm 

Please see our Job Wanted section for possible new employees.

 

[headlines]
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Email Correspondence at Work While Job Hunting
Career Crossroad---By Emily Fitzpatrick/RII


Question: Should you talk to a recruiter while at work or receive correspondence?

Answer: Even if your employer is aware you are looking elsewhere, I recommend all such communication away from your work place. I think any personal business should be handled during your break or lunch, and out of your office. Emergency may be an exception, and maybe you are too busy, but it is also an issue of privacy.

Many large companies screen emails and telephone calls, not unusual. Your employer has the right to look at mail addressed to you at the company, as well as company resources (e.g. work computers, email addresses, etc…) … these types of items are considered the employers’ “resources”.

Legally companies / employers have the right to review incoming and outgoing mail of their employees. In addition, they have the ability to track internet searches. If you have not been careful, you may be red flagged.

As a recruiter, we often contact potential Candidates during work hours. I suggest forwarding the recruiter your personal contact information such as your cell phone, home phone and personal email address via text, phone or email.

If you do receive personal or career-type emails while at work, make sure you keep a copy of the person’s contact information, delete it, then, on personal time, reach out to the individual. And while you delete it, all this email is collected as a cc: so it really isn’t deleted, and also remains on the web hosting server, too.

Every email posted on the world wide web is “public,” meaning anyone with skills can hack it or see it, if they really want to.

Many recruiters, such as RII recruiters, are available early a.m., into the evening and on weekends.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

Career Crossroads Previous Columns
http://www.leasingnews.org/Conscious-Top%20Stories/crossroad.html

 

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Sales Makes it Happen
Hiring the Right Salesperson
--by Steve Chriest


Anyone who has managed salespeople must admit to making hiring mistakes. At one time or another all of us have found ourselves unable to resist the temptation of hiring the next great superstar, even though our intuition made us uneasy, or something in their story just didn't jibe with reality.

If you continue to rely on “gut checks” in your hiring process, you are likely to make more bad hires than necessary. I once heard someone admonish sales managers: “Don't send your ducks to eagle school!” It just won't work. You send the ducks out hunting, they find a rabbit and they make friends with it! You then yell to the ducks, “No, no, reread page twenty-one of your hunting manual!”

The same thing happens when you send the wrong salespeople on a hunting expedition for new prospects and you realize that they make friends with potential customers, buying them lunch, treating them to sporting events, and showering them with expensive gifts. In frustration, you yell, “No, no, bring in the orders, close the prospects, close the prospects!”

The first step in avoiding hiring mistakes is to recognize some of the myths about sales. For example, just like expecting ducks to hunt, you can't train someone for a job they can't do. All the training in the world won't help someone with a poor aptitude for math work successfully as a physicist.

Another myth about sales is that you can train talent. The truth is talent can't be trained. You either can sing like an American Idol or you can't. When it comes to talented salespeople, however, the experts tell us that talented folks can be improved by up to 20%.

Let's look at the numbers. If you can improve someone in the 80th percentile by 20%, they can become a 96%. The bad news, unfortunately, is that all the time and money in the world won't make a 20% more than a 25%!

Nearly 45% of all money spent by business on employee training and education is spent on sales. At some point companies will demand a better system for selecting sales candidates with the potential and will to perform up to management's expectations. For many companies, this may become their single most important investment to improve market share and profitability.

Finally, avoiding bad hires is a true win-win. The company and sales managers win because time and resources aren't squandered on candidates that just don't have the aptitude or the will to succeed in sales. The candidates win because they are free to pursue other opportunities more suited to their talents and predispositions.

About the author: Steve Chriest is the founder of Selling UpTM (www.selling-up.com), a sales consulting firm specializing in sales improvement for organizations of all types and sizes in a variety of industries. He is also the author of Selling The E-Suite, The Proven System for Reaching and Selling Senior Executives and Five Minute Financial Analyst, Basic CREDIT & Analysis Tools for Non-Accountants. He was the CEO of a very successful leasing company and executive at a major company. You can reach Steve at schriest@selling-up.com.

Sales Makes it Happen articles:
http://www.leasingnews.org/Legacy/index.html



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Leasing Schools/Franchisors 
(For our "Financial and Sales Training" list, please click here)

Global Leasing
Lease One
Wheeler Leasing School

  (does not include those specifically employed in training or education, but who have a similar program as the following entities:)

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

Global Financial Training Program
Over 35 Years of Experience Financing Businesses

Program Cost: $19,950.00

 

Phil Dushey
President & CEO

In 2001, Global Leasing founder Phil Dushey created a new company to train independent entrepreneurs who want to enter the lucrative field of business financing. Global Financial Training Program teaches all aspects of finance including Equipment Leasing, Accounts Receivable Financing, Cash Advance, Commercial Real Estate, SBA Loans and much more. Phil’s students have found great success with his program.

Mr. Dushey is a founding member of the National Association of Equipment Leasing Brokers. He has been a member and speaker at many leasing organizations for several years. He is also a founding member of the leasing news advisory board.

Global Financial Training Program provides students with everything they need to start making money immediately after four days of training. As a full-service finance company you will provide a valuable service for business owners that have difficulty getting financing from their local banks. The banks are turning down over 90% of business loan applications and you can approve at least 50% of the turndowns. After the training at their offices in New York City trainees are instantly approved with over 25 lenders, get a custom designed website, stationery package, 1000 leads and enough marketing to have their phones ringing the first week after the training and much more... It's easier than you think to fulfill your dreams of independence, living the life you deserve and enjoying the prestige of owning your own company.

You don't need prior experience. All you need is the desire to be your own boss, the ability to learn, good people skills, and a passion to succeed and make a lot of money.

How much, is up to you...

Philip Dushey
President & CEO
Global Financial Services
1 State Street, 21st Floor
New York NY 10004
Email phil@gbtsinc.com
www.globalfinancialtrainingprogram.com 
Phone: 212-480-4900

The Global Group of independently owned companies are:

Global Financial Services | www.globaleasing.com
We have been actively providing financial services for 35 years

Global Church Financing | www.globalchurchfinancing.com
One of the largest independent companies financing equipment for churches nationwide

Global Financial Training Program | www.globalfinancialtrainingprogram.com
The oldest and most comprehensive training program for people who want to own their own finance company

Mr. Dushay is also on the Leasing News Advisory Board 
http://www.leasingnews.org/Advisory%20Board/Dushay_Phil.htm

 

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

Lease One, Lynnfield, Massachusetts

Program Cost: $19,900.00

Since 1989 Lease One has been providing superior training along with unprecedented ongoing support to our broker network. With offices from coast to coast we proudly exhibit the foremost training experience available. Our one time initial investment will provide you with the training and support for the lifetime of your venture with no on-going fees (Hotel/Airfare/Materials/Leads are all included in this price).

“The Lease One Opportunity is the only turn key business opportunity that allows you to devote the time necessary to building a business, no need to worry about processing or underwriting your deals; we do it for you, forever! Our unique program is the only one that offers free marketing assistance along with a devoted graphics design department to enable you to creatively attract new customers to your business. Call us today or visit our website (www.leaseoneopportunity.com ) to learn more about this exciting opportunity. We are Lease One; It's the Lease we can do!”

Joseph L. Angelo Jr. 
Lease One Corp.
220 Broadway, Suite 102
Lynnfield , MA 01940
www.leaseoneopportunity.com

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

Wheeler Leasing School

Program Cost: $14,500

The training and support provided will allow individuals to establish their own independent brokering businesses. This program is not a franchise operation and therefore has no future royalty payments due. There is a one time upfront investment. The ongoing business expenses are determined by you.

A five day course taught by Scott Wheeler, CLP. There is no financial requirement or obligation with the application. Upon completing the pre-screening process and being accepted into the program you will be asked to sign an agreement with Wheeler Business Consulting LLC.

With over twenty-six years of leasing experience and an Executive Masters in Business Administration, Scott is an accomplished senior leasing executive with leadership qualities in marketing and operations. His extensive experience will benefit organizations looking to reach a higher level of profitability and corporate development. 
Biography: http://wheelerbusinessconsulting.com/bio.html

Link to articles written by Scott Wheeler:
http://wheelerbusinessconsulting.com/recentarticles.html

Contact Information: 
Wheeler Business Consulting LLC 1314 Marquis Ct.
Fallston, Maryland 21047

Phone: 410-877-0428
Fax: 410-877-8161
email: scott@wheelerbusinessconsulting.com

Website: www.wheelerbusinessconsulting.com



[headlines]
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Leasing 102
by Mr. Terry Winders, CLP


Leasing Used Equipment

Leasing used equipment from a vendor is acceptable but still there is a couple of safeguards necessary to insure that the equipment is sound and clear title is passed. Some States have laws that protect the buyer if the vendor is registered. The buyer has the right to assume clear title may be passed. However, there have been times where the vendor was in cahoots with the lessee to raise money and the equipment was worthless or inoperable. Therefore a company employee or site inspection personnel needs to see the equipment to make sure it exists and is good condition. Photos from a digital telephone should be taken and are easy to save.

Occasionally a lessee wants to lessee equipment from a private sale. The lessor needs to insure that clear title can be passed so a UCC search needs to look for any liens, blanket or specific, and have those liens released prior to closing the sale. The law states that title only passes with possession and a bill of sale. The lessor needs to establish the lessee as his agent to take possession of the equipment and the bill of sale needs to be in the lessors name. As noted above, the equipment should be inspected to determine its condition; and sometimes a serial number search with the manufacturer will give you information on service or repairs, as well as give you the correct year the equipment was put in place.

The lessor also needs to determine if the equipment price is proper. There are guide books and manufacturer information plus lots of information on the internet to help determine a proper price. The problem comes when your investigation of the price reveals that it is way “over’ priced.”

How to inform the lessee that you are only willing to lease the equipment at the proper lower price without raising the ire of the vendor or the lessee is a real art. I suggest you just show the results of your equipment investigation to the potential lessee.

Once again it is important, if possible, to see the equipment and complete an equipment description and use statement. Equipment inspections on used equipment are necessary to determine the remaining useful life. If you intend a true lease keep in mind that the maximum term of your lease cannot exceed 80% of the remaining useful life.

The use of the equipment is critical to determine the term of the lease. I know the lessee usually determines the term but it must coincide with the equipment’s remaining useful life. If you are doing a $1 option lease, it is still important to know how long the equipment will last just to add this information to your credit decision.

Some lessors think leasing used equipment is safer than new equipment because for the most part the depreciation in equipment value is much slower making it better collateral. I agree with this ---but at the same time the risks of problems is much greater if you do not check everything out as I have suggested.

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

He invites your questions and queries.

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


Mr. Terry Winders available as Expert Witness. 35 years as a professional instructor to the top equipment leasing and finance companies in the United States, author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale.

Mr. Winders received his Master of Business Administration and his Bachelor of Science degrees from the College of Notre Dame.

502.649.0488/Leaseconsulting@msn.com

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

 

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Top Stories January 28--February 1
(You May Have Missed)


Here are the top ten stories opened by readers:

(1) Readers Beware! www.leasingnews.info
Bulletin Board Complaint
http://leasingnews.org/archives/Jan2013/1_28.htm#bbc

(2) Marlin Officers Take 4th Quarter "Bonus"
http://leasingnews.org/archives/Jan2013/1_28.htm#marlin

(3) The House that Jerry Built
by Christopher Menkin, Publisher
http://leasingnews.org/archives/Feb2013/2_01.htm#house

(4) Pacific Western Joins “Extra Lease Payment” Group
http://leasingnews.org/archives/Jan2013/1_30.htm#pac_west

(5) The Matrix-Utah Connection
by Christopher Menkin
http://leasingnews.org/archives/Jan2013/1_30.htm#matrix

(6) Five Point Capital Announces New Wave
of Sales Representatives
http://www.timesunion.com/business/press-releases/article/Five-Point-Capital-Announces-the-Addition-of-a-4225389.php

(7) Current License Regulations and Advice
by Christopher Menkin
http://leasingnews.org/archives/Jan2013/1_30.htm#license

(8) OCC Defines Small Bank
---Leasing Company Banks listed
http://leasingnews.org/archives/Jan2013/1_30.htm#occ

(9) Look Up, Not Down at Your Computer Monitor
by Kit Menkin
http://leasingnews.org/archives/Feb2013/2_01.htm#posture

(Tie) (10) Companies who utilize Evergreen Clauses
for Extra Lease Payments
http://leasingnews.org/archives/Jan2013/1_28.htm#evergreen

(Tie)(10) Leasing 102 by Mr. Terry Winders, CLP
Lease Assumptions
http://leasingnews.org/archives/Jan2013/1_28.htm#assumptions


John Kenny Receivables Management
www.jrkrmdirect.com

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

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

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

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

[headlines]
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Yorkie, Yorkshire Terrier
The Villages, Florida Adopt-a-Dog


Sebastian

Male
2 1/2 years old
Small
Black, with Tan, Yellow

“I am already neutered, housetrained, purebred, up to date with shots, good with kids, good with dogs, and good with cats.”

Sebastian's Story...

“INITIAL BIO 01/30/2013: MEET SEBASTIAN! He is a very active 2-1/2 y/o 8 lb. Silky Terrier; he is being fostered in The Villages, FL. Sebastian was surrendered by his owners who were no longer able to care for him; they loved and spoiled him very much. He is a sweet little boy who is very curious about his surroundings. He is house-trained and crate-trained. He walks okay on a leash but needs some reminders of how he is supposed to behave while on leash. In Seb’s previous home, his best buddy was a kitty cat, although he gets along well with other dogs, also. Sebastian loves to cuddle and play with toys. He just arrived in UYR, so stay tuned for more info

“NOTE: Sebastian can only be placed in a home with children that are 12 y/o or older”

Contact This Rescue Group...
Rescue Group: United Yorkie Rescue - FL - The Villages
E-mail: leerobin05@gmail.com
Let 'em know you saw "Sebastian" on Adopt-a-Pet.com!
Website: http://www.UnitedYorkieRescue.org
Address: The Villages, FL 32162
http://www.unitedyorkierescue.org/


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

Adopt a Pet
http://www.adoptapet.com/

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


News Briefs----

 

49ers legends embroiled in lawsuit that could shake up Silicon Valley
http://www.mercurynews.com/business/ci_22503642/venture-funds-launched-by-49ers-legends-embroiled-lawsuit

Gold Leasing: The Case Of The Disappearing Gold
http://www.zerohedge.com/news/2013-02-02/gold-leasing-case-disappearing-gold

Toyota back on top, carmakers cut fuel cell deal
http://www.upi.com/Business_News/2013/02/03/Auto-Outlook-Toyota-back-on-top-carmakers-cut-fuel-cell-deal/UPI-87221359887400/

FCC plan would redefine wireless industry
http://www.washingtonpost.com/business/technology/tech-telecom-giants-take-sides-as-fcc-proposes-large-public-wifi-networks/2013/02/03/eb27d3e0-698b-11e2-ada3-d86a4806d5ee_story.html

Retailers that will close the most stores
http://www.usatoday.com/story/money/business/2013/02/01/retailers-close-stores-24-7/1873745/

Boeing 787’s problems blamed on outsourcing, lack of oversight
http://seattletimes.com/html/businesstechnology/2020275838

Super Bowl Commercials: Clydesdale wins Ad Meter by a nose
http://www.usatoday.com/story/money/business/2013/02/04/clydesdale-ad-wins-by-a-nose/1889693/

 

 

[headlines]
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---You May Have Missed

We’re running out of farm workers. Immigration reform won’t help
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/29/the-u-s-is-running-out-of-farm-workers-immigration-reform-may-not-help/




[headlines]

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


SparkPeople--Live Healthier and Longer


SparkPeople--Live Healthier and Longer

Are You a Compulsive Spender? Quiz
http://www.sparkpeople.com/resource/assessment_questions.asp?quizid=59



[headlines]

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Sports Briefs----


Baltimore Ravens win Super Bowl, defeating San Francisco 49ers, 34-31
http://www.baltimoresun.com/sports/ravens/bal-baltimore-ravens-win-superbowl,0,6723204.story

Super Bowl XLVII Champions: Baltimore Ravens defeat San Francisco 49ers 34-31
http://www.wbaltv.com/news/sports/ravens/Super-Bowl-XLVII-Champions-Baltimore-Ravens-defeat-San-Francisco-49ers-34-31/-/10042718/18216168/-/c3iolgz/-/index.html

Did the Ravens get away with a no-call?
http://www.usatoday.com/story/gameon/2013/02/03/san-francisco-49ers-no-call-holding-fourth-down-super-bowl-baltimore-ravens/1889389/

Robert Griffin III beats out Andrew Luck, Russell Wilson for top offensive rookie award
http://www.washingtonpost.com/national/robert-griffin-iii-beats-out-andrew-luck-russell-wilson-for-top-offensive-rookie-award/2013/02/02/9c3a223c-6d97-11e2-8f4f-2abd96162ba8_story.html

 

[headlines]
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[headlines]
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California Nuts Briefs---

Sad faces in Turlock, home of Kap
http://blog.sfgate.com/49ers/2013/02/03/sad-faces-in-turlock-home-of-kap/


[headlines]
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“Gimme that Wine”

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

Wine Consumers Move Up the Price Ladder

Gallo honored as Winery of the Year

Don't Ask, Don't Tell in Napa

Free Mobile Wine Program
http://leasingnews.org/archives/Feb2010/2_26.htm#mobile

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

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

Winery Atlas
http://www.carterhouse.com/atlas/\

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


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

This Day in History

     1746- Birthday of Thaddeus Kosciusko, Polish patriot and American Revolutionary War figure. Born at Lithuania , he died at Solothurn , Switzerland , Oct 15, 1817.
http://www.polskiinternet.com/english/info/thadeuskosciuszko.html
    1779 - John Paul Jones takes command of Bonhomme Richard.
    1783 - Britain declared a formal cessation of hostilities with its former colonies, the United States of America.
    1787 - In an attack on Shays’ insurgents at Petersham, Massachusetts, General Benjamin Lincoln captures 150 rebels and forces Shays to flee for Vermont. By the end of the month, the uprising has been completely suppressed. In March the Massachusetts legislature offers a pardon to all except Shays, Luke Day and two other leaders. Shays will be pardoned on 13 June, 1788. This rebellion has the effect of causing the state legislature to avoid direct taxation, to lower court costs, and to exempt household necessities and workmen’s tools from the debt process. Shays’ Rebellion is also an important factor in influencing the creation of a new federal constitution, since the states have seen how essentially powerless they are to prevent such incidents of violence.
    1789- The only president to receive the unanimous vote of the presidential electors was George Washington of Mount Vernon , Virginia , who received all of the 69 votes cast by the lection from the 10 states that voted this day. A nearly unanimous vote took place in November 1816, when James Monroe of Virginia received 231 of the 232 votes casts by the electors from 24 states. The dissenting vote was cast by William Plumer of New Hampshire . Presidential electors met and chose George Washington as America 's first president. The Federalist Parry was formed by those who had supported ratification of the Constitution. Its first candidate was Washington . As president, Washington guided the new government as it moved from the concepts expressed in the Constitution into a functioning federal republic, and he firmly established many traditions and precedents which still guide how we as a nation view the presidency. After serving two terms in that office, he refused to seek a third one, believing that two terms were the most that any president should serve. The Federalist, considered pro-English, enjoyed considerable success until 1800, when Thomas Jefferson, a Democratic-Republican, defeated John Adams for the presidency. Eventually the party lost its supporters and ceased to exist about 1820. Alexander Hamilton was one of the party's founders and foremost leaders. As a point of history, by April 6 the first Congress was formally organized. by its end in 1791 the first Congress consisted of 26 senators of whom 17 supported the Washington administration and 9 were generally in opposition. In the House the division was 38 and 26. Senators were chosen by each of the state's legislators until the 20th century by the 17th amendment.
http://www.senate.gov/artandhistory/history/common/briefing/
Direct_Election_Senators.htm

    1810- The Cumberland Presbyterian Church was organized in Tennessee as an outgrowth of the Great Revival of 1800. Standing between Calvinism and Arminianism, the denomination holds a "medium theology" which affirms unlimited atonement, universal grace, conditional election, eternal security of the believer and salvation of all children dying in infancy.
    1822 - Free American Blacks settled Liberia, West Africa. The first group of colonists landed in Liberia and founded Monrovia, the colony's capital city, named in honor of President James Monroe.
    1826- The Last of the Mohicans by James Fennimore Cooper is published. One of the earliest distinctive American novels, the book is the second of the five-novel series called the "Leather-stocking Tales." He continued to write about the American frontier in his third book, The Pioneer, which featured backcountry scout Natty Bumppo, known in this book as "Leather-stocking." The character, representing goodness, purity, and simplicity, became tremendously popular, and reappeared, by popular demand, in five more novels, known collectively as the "Leather-stocking Tales." The second book in the series, The Last of the Mohicans, is still widely read today. The five books span Bumppo's life, from coming of age through approaching death.
    1841-Plagued by poor investment decisions and an uncertain economic climate, the Bank of the United States was forced to call it quits on February 4, 1841. It was a painful end for an institution that had suffered through one of the more contentious episodes in the nation's early financial history. Indeed, the Bank was the direct product of President Alexander Hamilton's controversial push for a national banking system. Despite the staunch objections of Thomas Jefferson, the federal government chartered the first Bank of the United States in 1791. However, Jefferson kept up his attack, and in 1811, led his supporters in Congress in a successful attempt to block the renewal of the bank's charter. Buoyed by a confluence of conditions, including state banks' recent run of woes and political shifts in the House, pro-bank forces forged a new charter in 1816. Under the charge of Nicholas Biddle, the revived Bank of the U.S. enjoyed some healthy years. However, before long, the Bank faced another round of opposition, this time led by President Andrew Jackson, who fiercely opposed the notion of a central bank system. A nasty and protracted political battle ensued, as the president attempted to use his executive power to do away with the bank. Jackson eventually won out, and when the bank's charter expired in 1836, Biddle shifted course and reestablished the Bank of the United States as a state institution based in Pennsylvania . Biddle's bank limped on for a few more years before being finally shut down on February 4, 1841.
    1846-The ship "Brooklyn" left New York bound for San Francisco with members of the Church of Latter-Day Saints aboard. They had been instructed to "flee Babylon." They departed for California the same day other Saints left Navoo, Illinois, following clashes with settlers over polygamy. The party from Navoo was to meet Brannan's group at Yerba Buena.
    1847- Magnetic Telegraph of Maryland opened four offices in New York City for $250 a year, Philadelphia for$ !50, in Baltimore for $150, and Washington , DC for $50 a year to become the first Telegraph company. At first, messages were sent by pigeons across the Hudson River from Jersey City , NJ to New York City . Later, a lead pipe enclosing a covered wire saturated with pitch was laid under the river. The rates from Baltimore to Washington were e1`0 cents for the first 10 words an 1 cent for each additional minute. The rates form New York to Washington were 50 cents for the first 10 words and 5 cents for each additional word.
    1861- The Apache Wars: The period of conflict known as the Apache Wars began at Apache Pass , AZ , when Army Lieutenant George Bascom arrested Apache Chief Cochise for raiding a ranch. Cochise escaped and declared war. The wars lasted 25 years under the leadership of Cochise and, later, Geronimo.
    1861- the first Confederate congressional session took place, lasting until March 16. Its official title was Congress of the Confederate States. The president of the Senate was Alexander Hamilton Stephens of Georgia, the president pro tempore was Robert Mercer Taliaferro Hunter of Virginia , and the secretary of the Senate was James H. Nash of South Carolina . The House of Representatives under the permanent constitution met in Richmond , VA , on February 18, 1861. Emmet Dixon of Georgia was elected clerk and Thomas Salem Bocock of Virginia was elected speaker. The session adjourned on April 21, 1862. The first order of business was drafting a constitution. They used the U.S. Constitution as a model, and most of it was taken verbatim. It took just four days to hammer out a tentative document to govern the new nation. The president was limited to one six-year term. Unlike the U.S. Constitution, the word "slave" was used and the institution protected in all states and any territories to be added later. Importation of slaves was prohibited, as this would alienate European nations and would detract from the profitable "internal slave trade" in the South. Other components of the constitution were designed to enhance the power of the states--governmental money for internal improvements was banned and the president was given a line-item veto on appropriations bills. The Congress then turned its attention to selecting a president. The delegates settled on Jefferson Davis, a West Point graduate who was the U.S. Secretary of War in the 1850s and a senator from Mississippi . It was emphatic that the purpose of the confederacy was to preserve slavery. There were many rich slave owners in the south and the loss of their property would mean not only substantial loss of their assets, but future income as they would have to pay for work on their farms and other businesses. ( an irony of the times, there were Negroes who were also “slave owners” At the turn of the century, there were slaves also owned in the North.)
Here is one county, Lowndes District in the County of Lowndes , State of Alabama , to give you an idea of the division of “property.”
http://www.ccharity.com/census/1850lowndes.htm
This will substantiate that there were “free Blacks” who also owned “Black slaves.”
http://americancivilwar.com/authors/black_slaveowners.htm
Slave Census of Connecticut and Washington , 1790. It is also correct many of the Northern states began to outlaw slavery in their state after the ratification of the constitution.
http://www.ctnow.com/extras/html/slaveowners.htm
But make it clear, the purpose of the Confederate States of America was to preserve slavery and was so stated in their constitution.
    1873- Birth of George Bennard, American Methodist evangelist. He penned over 300 Gospel songs during his lifetime, but is primarily remembered today for one: "The Old Rugged Cross."
    1895 - In Chicago , Illinois , the Van Buren Street Bridge opened. It was the first rolling lift bridge. It consisted of two arms meeting at the center of the river. The bridge was operated by two 50horsepower electric motors on each side of the bridge.
http://www.chicagohs.org/fire/ruin/pic0093.html
http://www.deldot.net/static/projects/archaeology/
historic_pres/delaware_bridge_book/PAGE_162.PDF
http://tigger.cc.uic.edu/depts/ahaa/imagebase/
intranet/chiviews/page177.html
    1902-Birthday of Charles Augustus Lindbergh, American aviator, nick named
“Lucky Lindy,” was the first to fly solo and nonstop over the Atlantic Ocean, New York to Paris , May 20-21, 1927. He became a Nazi sympathizer, accepting awards from Adoph Hitler and after the war, efforts were made to downplay his lobbying for the Nazi regime. Born at Detroit , MI ; died at Kipahula, Maui , HI , Aug 27,1974.
    1904 – Birthday of MacKinlay Kantor, novelist ( Andersonville ) , born Webster City, Iowa. died on October 11, 1977 His best seller was a story about the infamous Andersonville prison of Civil War fame, into which tens of thousands of Northerners were inhumanely confined under obscene conditions.
http://www.lib.uiowa.edu/spec-coll/MSC/IaAuthor/Kantor/kantor.html
http://www.amazon.com/exec/obidos/ASIN/0452269563/inktomi-bkasin-20/
002-1958450-0644835/
    1908-Birthday of trumpet player Mannie Klein , New York City
http://www.trumpetjazz.com/artists.cgi?name=Manny+Klein&x=5&y=9
http://www.jazzoracle.com/reviews/
http://ms.cc.sunysb.edu/~alhaim/recordingsanalysis.htm
http://user.tninet.se/~npt755v/bosw2.htm
    1913- birthday of Rosa Lee Parks, civil rights leader who refused to give up the seat on the bus, Tuskegee , AL .
http://www.grandtimes.com/rosa.html
http://www.rosaparks.org/
    1913--add after this on line (birthday of Rosa Lee Parks, civil rights leader who refused to give up the seat on the bus, Tuskegee, AL.) Born Rosa Louise McCauley in Tuskegee, Al, Rosa Parks was a seamstress who was active with the NAACP. On a fateful day in Montgomery, Al, in 1955, a time when African Americans were obligated by law to ride in the back of a bus, she refused to give up her seat to a white man during a ride home from work. Parks was subsequently arrested, found guilty of disorderly conduct and fined $14. This simple act sparked the modern civil rights movement, leasing to a 381 day boycott of the Montgomery bus system Lawsuits and an eventual Supreme Court decision decreeing segregation to be unconstitutional. A hero to blacks and whites alike, Parks continued work on civil rights until her death on October 25, 2005, at Detroit, MI. She was awarded the Presidential Medal of Freedom and the Congressional Gold Medal, and she is the only American woman to lie in state at the U.S. Capitol Rotunda. Many municipalities consider Dec. 1, the day of her arrest in 1955, a holiday: Rose Parks Day.
    1914—Pellagra is caused by a deficiency of the B vitamin niacin. Dr. Joseph/Goldberger of the U.S. Public Health Service at the Mississippi State Penitentiary, eight miles east of Jackson , MS , began the first public finding. Twelve convicts agreed to submit to a restricted-diet test in exchange for an offer of pardon made by Governor Earl LeRoy Brewer. The test was held from February 4, 1915 to April 19,1915. Six of the 11 convicts ( one was excused) developed pellagra, confirming suspicions that pellagra is caused by a deficiency of the B Vitamin niacin. Pellagra was common, particularly in the South, until news of this experiment became known by newspapers of the time.
     1917 - Downtown Miami, FL, reported an all-time record low of 27 degrees.
     1921- birthday of author Betty Freidan, Peoria , IL , founder of the National Organization for Women ( NOW, author of the “Feminine Mystique.”
    1928- Regal Theater opens in Chicago , great jazz venue during the 1930's,1940's.
http://www.suba.com/~scottn/explore/sites/theaters/regal.htm
http://www.angelfire.com/il2/regalthe/
http://jazzinstituteofchicago.org/index.asp?target=/jazzgram/
bronzeville/bronzeville47.asp
 1930-The first mosaic pavement similar to the mosaics of the ancient world was laid on Canal Street , New Orleans , LA. The mosaic effect was secured by mixing chipped meteorite, crown point spar, and mica with the cement, then pouring the mixture into diamond-shaped brass stripped forms, sanding it down and polishing it. It was part of the project referred to as the ‘Beautification of Canal Street.”
http://theoldentimes.com/canal_st.html
http://www.hfmgv.org/exhibits/dpc/cityscapes/charles.asp
    1932- the third Winter Olympics opened at Lake Placid, NY, with 32 women and 274 men athletes representing 17 nations. This was the only edition of the Winter games in which athletes form the US won more medals ( six gold, four silver and two bronze) than athletes form any other country. The games closed on February 15th.]
    1933 -- Angered by increasing farm foreclosures, members of Iowa's Farmers Holiday Association threaten to lynch banking representatives and law officials who institute foreclosure proceedings for the duration of the Depression. In April at Primghar, 600 farmers battle the sheriff and his deputies to prevent a foreclosure. During the battle many farmers take a beating. A group of them then turn up at the courthouse, drag a district judge from his chair, put a rope around his neck, & threaten to hang him unless he promises not to issue any more eviction notices. That same month, when state officers in Crawford County are beaten and driven off, the Iowa governor put three counties under martial law, and the National Guard starts rounding up farmers who are fighting foreclosures. Farmers outside Sioux City did not cooperate with the association, selling produce at the best price they could, in addition, President Roosevelt promised farmers change and help. The crisis here also help Roosevelt defeat Hoover.
http://www.hooverassociation.org/arhell.htm
http://www.sos.state.ia.us/publications/redbook/history/7-1.html
    1934-Birthday of piano player Wade Legge, Huntington, WA
http://www.amazon.com/exec/obidos/ASIN/B00000JA8W
inktomi-musicasin-20/002-1958450-0644835
    1937-Glen Gray and Casa Loma Band record LarryCliniton's “Study in Brown.”
    1938 - Thornton Wilder's play, "Our Town", opened in New York City at the Henry Miller Theatre. The play won the writer a Pulitzer prize.
    1938 –Guitarist/vocalist Joe Beard Birthday
http://www.jazznow.com/1001NS/NSJBeard.html
http://www.audioquest-music.com/catalog/1039.html
    1939 - World mile record-holder, Glenn Cunningham, said in a newspaper, "running a four-minute mile is beyond human effort," adding that the best mile run will always be 4:01.66. That mark has been since been broken several times. Jim Ryun did it on several occasions; and more recently a time of 3:44:39 was set by Noureddine Morceli from Algeria.
    1941- USO founded' provides support worldwide for US service people and their families. The United Service Organizations (USO) centers have served as a home away from home for hundreds of thousands of Americans.
http://memory.loc.gov/ammem/today/feb04.html
    1944 - President Roosevelt authorized the Bronze Star Medal by Executive Order 9419 dated 4 February 1944, retroactive to 7 December 1941. This authorization was announced in War Department Bulletin No. 3, dated 10 February 1944. The Executive Order was amended by President Kennedy, per Executive Order 11046 dated 24 August 1962, to expand the authorization to include those serving with friendly forces.
    1945-Birthday of tenor sax player John Stubblefield IV, Little Rock AR
http://www.russpix.co.uk/stubb.html
http://www.arjazz.org/artists/hof/1998/98_stubblefield.html
    1947—Top Hits
For Sentimental Reasons - Nat King Cole
A Gal in Calico - Johnny Mercer
Oh, But I Do - Margaret Whiting
Rainbow at Midnight - Ernest Tubb
    1948- Vincent Fournier, better known as Alice Cooper, was born in Detroit. His rock 'n' roll horror show in the 1970's featured chicken-killing and snake-fondling while singing such songs as "Refrigerator Heaven" and "I'm Eighteen." Cooper went into semi-retirement in 1977, when alcohol problems forced him to undergo hospital treatment. He later returned to performing.
http://www.geocities.com/Broadway/Alley/3246/
http://www.alicecoopershow.co.uk/portal.htm
    1951-ADAMS, STANLEY T. Medal of Honor
Rank and organization: Master Sergeant (then Sfc.), U.S. Army, Company A, 19th Infantry Regiment. Place and date: Near Sesim-ni, Korea, 4 February 1951. Entered service at: Olathe, Kans. Born: 9 May 1922, DeSoto, Kans. G.O. No.: 66, 2 August 1951. Citation: M/Sgt. Adams, Company A, distinguished himself by conspicuous gallantry and intrepidity above and beyond the call of duty in action against an enemy. At approximately 0100 hours, M/Sgt. Adams' platoon, holding an outpost some 200 yards ahead of his company, came under a determined attack by an estimated 250 enemy troops. Intense small-arms, machine gun, and mortar fire from 3 sides pressed the platoon back against the main line of resistance. Observing approximately 150 hostile troops silhouetted against the skyline advancing against his platoon, M/Sgt. Adams leaped to his feet, urged his men to fix bayonets, and he, with 13 members of his platoon, charged this hostile force with indomitable courage. Within 50 yards of the enemy M/Sgt. Adams was knocked to the ground when pierced in the leg by an enemy bullet. He jumped to his feet and, ignoring his wound, continued on to close with the enemy when he was knocked down 4 times from the concussion of grenades which had bounced off his body. Shouting orders he charged the enemy positions and engaged them in hand-to-hand combat where man after man fell before his terrific onslaught with bayonet and rifle butt. After nearly an hour of vicious action M/Sgt. Adams and his comrades routed the fanatical foe, killing over 50 and forcing the remainder to withdraw. Upon receiving orders that his battalion was moving back he provided cover fire while his men withdrew. M/Sgt. Adams' superb leadership, incredible courage, and consummate devotion to duty so inspired his comrades that the enemy attack was completely thwarted, saving his battalion from possible disaster. His sustained personal bravery and indomitable fighting spirit against overwhelming odds reflect the utmost glory upon himself and uphold the finest traditions of the infantry and the military service.
    1952 - Former baseball great, Jackie Robinson, was named Director of Communication for NBC, becoming the first black executive of a major radio-TV network.
    1953 - Dean Martin and Jerry Lewis took a dramatic turn when they starred in the film, "The Stooge", premiering at the Paramount Theatre in New York City.
    1955—Top Hits
Sincerely - McGuire Sisters
Hearts of Stone - Fontane Sisters
Melody of Love - Billy Vaughn
Let Me Go, Lover! - Hank Snow
    1955--The Blue Moon Boys, consisting of Elvis Presley, Scotty Moore, Bill Black and DJ Fontana, headline at an amusement park in New Orleans. 
    1956-James Brown and The Famous Flames record "Please, Please, Please" at King Studios in Cincinnati. The single would go on to become a Billboard #5 R&B hit, selling over a million copies, but nine subsequent releases would fail to live up to the success of their debut. It would take over two years for the group to return to the charts with the #1 R&B hit, "Try Me".
    1957 - New York's Smith-Corona Manufacturing Inc. began to sell portable electric typewriters. The first "portable" machine weighed 19 pounds! Soon, other manufacturers began offering similar models that were made of lighter weight plastics.
    1962- birthday of country singer Clint Black, born Katy, LA.
http://www.countrystars.com/index.html?/artists/clint.html
http://clintblack.com/bios.html
    1962-The first U.S. helicopter is shot down in Vietnam. It was one of 15 helicopters ferrying South Vietnamese Army troops into battle near the village of Hong My in the Mekong Delta. The first U.S. helicopter unit had arrived in South Vietnam aboard the ferry carrier USNS Core on December 11, 1961. This contingent included 33 Vertol H-21C Shawnee helicopters and 400 air and ground crewmen to operate and maintain them. Their assignment was to airlift South Vietnamese Army troops into combat.
    1963—Top Hits
Walk Right In - The Rooftop Singers
Hey Paula - Paul & Paula
The Night Has a Thousand Eyes - Bobby Vee
The Ballad of Jed Clampett - Flatt & Scruggs
    1964- The federal government put an end to one of the nation's more shameful bits of legislation by authorizing the Twenty-fourth Amendment, which effectively outlawed the poll tax. The tax stemmed back to the 1880s, when members of the burgeoning Populist party began to build a potentially potent coalition of African American and lower class white voters in the South. Across the region, planters, merchants, and industrialists moved to preserve their power and pushed for the passage of a deliberately prohibitive poll tax. The legislation, adopted by a host of Southern states, proved all too effective, as scores of African-Americans, as well as the "poorer sort" of whites, simply could not afford to pay the tax and thus lost the right to vote. However, thanks in large part to the efforts of Senator Spessard L. Holland of Florida, the once recalcitrant Congress slowly came around to the cause of outlawing the tax and passed the Twenty-fourth Amendment. On January 23, 1964, the amended was ratified by the South Dakota legislature, giving it the three-fourth majority necessary to make it the law of the land.
    1964 - United States weekly publication Newsweek was the first American magazine to carry a cover story on the Beatles.
    1965-Martin Luther King Jr. and 770 other protesters arrested in Selma, Alabama for picketing county courthouse to end discrim voting rights

    1966--Jefferson Airplane, The Mystery Trend play the Fillmore Auditorium in San Francisco. It is Bill Graham's first non-benefit show at the Fillmore 
    1966 -- Bill Graham's first non-benefit show. Also, about this time, author Ken Kesey disappears (to Mexico). Graham presents The Jefferson Airplane at the Fillmore Auditorium, 1805 Geary Street, in San Francisco, California.
http://www.winelady.com/records/bgposters.html
    1968-GONZALEZ, ALFREDO Medal of Honor
Rank and organization: Sergeant, U.S. Marine Corps, Company A, 1st Battalion, 1st Marines, 1st Marine Division (Rein), FMF. Place and date: Near Thua Thien, Republic of Vietnam, 4 February 1968. Entered service at: San Antonio, Tex. Born: 23 May 1946, Edinburg Tex. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty while serving as platoon commander, 3d Platoon, Company A. On 31 January 1968, during the initial phase of Operation Hue City, Sgt. Gonzalez' unit was formed as a reaction force and deployed to Hue to relieve the pressure on the beleaguered city. While moving by truck convoy along Route No. 1, near the village of Lang Van Lrong, the marines received a heavy volume of enemy fire. Sgt. Gonzalez aggressively maneuvered the marines in his platoon, and directed their fire until the area was cleared of snipers. Immediately after crossing a river south of Hue, the column was again hit by intense enemy fire. One of the marines on top of a tank was wounded and fell to the ground in an exposed position. With complete disregard for his safety, Sgt. Gonzalez ran through the fire-swept area to the assistance of his injured comrade. He lifted him up and though receiving fragmentation wounds during the rescue, he carried the wounded marine to a covered position for treatment. Due to the increased volume and accuracy of enemy fire from a fortified machine gun bunker on the side of the road, the company was temporarily halted. Realizing the gravity of the situation, Sgt. Gonzalez exposed himself to the enemy fire and moved his platoon along the east side of a bordering rice paddy to a dike directly across from the bunker. Though fully aware of the danger involved, he moved to the fire-swept road and destroyed the hostile position with hand grenades. Although seriously wounded again on 3 February, he steadfastly refused medical treatment and continued to supervise his men and lead the attack. On 4 February, the enemy had again pinned the company down, inflicting heavy casualties with automatic weapons and rocket fire. Sgt. Gonzalez, utilizing a number of light antitank assault weapons, fearlessly moved from position to position firing numerous rounds at the heavily fortified enemy emplacements. He successfully knocked out a rocket position and suppressed much of the enemy fire before falling mortally wounded. The heroism, courage, and dynamic leadership displayed by Sgt. Gonzalez reflected great credit upon himself and the Marine Corps, and were in keeping with the highest traditions of the U.S. Naval Service. He gallantly gave his life for his country. 
    1969 - 33-year-old John Madden became head coach of the NFL's Oakland Raiders. In his first season Madden took the Raiders to a 12-1-1 record and earned them a spot in the AFC Conference Championship Game. Madden went on to become the youngest head coach in the modern NFL era to win 100 games in his first ten seasons.
    1969- owners of the 24 major league baseball clubs elected attorney Bowie Kuhn commissioner for a one-year term at a salary of $100,000. Kuhn, who succeeded William D. Eckert, became baseball's fifth commissioner. He served until 1984 when he was replaced by Peter Ueberroth.
    1971—Top Hits
Knock Three Times - Dawn
Lonely Days - Bee Gees
Rose Garden - Lynn Anderson
Flesh and Blood - Johnny Cash
    1971-- The Osmonds' "One Bad Apple" album is certified gold
    1973-Birthday of boxer Oscar de La Hoya, Los Angeles, CA, Feb 4, 1973.
    1974 - Patricia Hearst, the 19-year-old daughter of publishing billionaire William Randolph Hearst, is kidnapped from her Berkeley, California, apartment. Stephen Weed, Hearst's fiancé‚, was beaten unconscious by the two abductors. Soon, a ransom demand came from the Symbionese Liberation Army (SLA), a radical activist group led by Donald DeFreeze. DeFreeze had formed the SLA in 1973 after he escaped from prison. On November 6, 1973, the SLA shot and killed Marcus Foster, Oakland's superintendent of schools, with bullets laced with cyanide. Less than a month before Hearst's kidnapping, an SLA bomb-making factory was discovered by the police. The SLA instructed William Hearst to distribute $70 million in food to the poor in Oakland to have Patty released. The Black Muslims, Malcolm X's former organization, were chosen to manage the food distribution, which turned into a riot when more than 10,000 people showed up and fought for the food. However, DeFreeze and the SLA did not release Patty. The Hearst story took a strange and unexpected turn two months after the abduction, when the SLA robbed the Hibernia Bank in San Francisco. The surveillance cameras clearly showed that Patty Hearst was one of the machine gun-toting robbers. Soon after followed a taped message from the SLA in which Hearst claimed that she had voluntarily joined the SLA and was now to be known as "Tania." On May 17, 1974, police were tipped that the SLA leaders were at a Los Angeles home. With 400 police and FBI agents outside the house, a tremendous gun battle broke out. The overwhelming firepower of the police eventually caused a fire to break out. DeFreeze and five other SLA members died in the fire. However, Hearst was not inside the house. She was not found until September 1975. Patty Hearst was put on trial for armed robbery and convicted, despite her claim that she had been coerced, through repeated rape, isolation, and brainwashing, into joining the SLA. Prosecutors believed that she actually orchestrated her own kidnapping because of her prior involvement with one of the SLA members. Despite any real proof of this theory, she was convicted and sent to prison. President Carter commuted Hearst's sentence after she had served two years. Hearst is currently seeking a pardon.
    1976- US District Court Judge John W.Olvier upheld the ruling of a baseball arbitrator Peter Seitz that had declared pitchers Andy Messersmith and Dave McNally to be free agents. The two had refused to sign contracts for 1974 as a test case and had argued that baseball's hallowed reserved clause bound them to their respective clubs, not in perpetuity but for only one year beyond the expiration of their last signed contract.
    1976- Kathryn Lis, Susan Kollmeye and Cynthia Snead became the first U.S. Coast Guard Academy cadets by finishing in the top one percent of the more than 10,000 men and women who competed for admission. 
    1976 – A US Senate subcommittee reveals Lockheed Aircraft Corporation made payments abroad of $22 million in bribes to sell planes. Lockheed admits payments in Japan, Turkey, Italy and Holland.
    1977-1977-"American Bandstand" celebrates its twenty-fifth anniversary with an ABC-TV special hosted by Dick Clark. An incredible "all-star band" made up by Chuck Berry, Seals & Crofts, Gregg Allman, Junior Walker, Johnny Rivers, the Pointer Sisters, Charlie Daniels, Doc Severenson, Les McCann, Donald Byrd, Chuck Mangione and three quarters of Booker T and the MGs. They join and jam together for a rendition of "Roll Over Beethoven."
    1977--One of the best selling albums of all time, Fleetwood Mac's, "Rumors" was released. The LP spent 31 weeks at the top of the US album chart on the strength of the singles, "Go Your Own Way", "Dreams", "Don't Stop" and "You Make Loving Fun", all of which hit the top 10. The album eventually sold over 18 million copies.
    1978-With movie theater promos showing John Travolta's character, Tony Manero walking down the street to the beat of The Bee Gees "Stayin' Alive", the tune shot to the top of the Billboard Pop chart.
    1979—Top Hits
Le Freak - Chic
Y.M.C.A. - Village People
Da Ya Think I'm Sexy? - Rod Stewart
Why Have You Left the One You Left Me For - Crystal Gayle
    1983 - Singer Karen Carpenter died of heart failure due to anorexia nervosa at age 33, at her parents' home in Downey , California . The singer, who had performed with her brother, Richard, would be best-remembered for her songs (They Long to Be) Close to You and We've Only Just Begun, which dominated the songs of choice for weddings throughout the '70s and '80s. The untimely death of the young, velvet-throated Grammy Award winner saddened and shocked the world. Her death shed new light on the devastating consequences of anorexia, an eating disorder brought on by compulsive dieting. At one low point in Carpenter's career, she was forced to cancel a command performance before Queen Elizabeth II of England , and a concert tour of Europe and the Orient, due to the illness. Standing five feet, four inches, she had dieted down to 90 pounds.
    1987—Top Hits
At This Moment - Billy Vera & The Beaters
Open Your Heart - Madonna
Land of Confusion - Genesis
You Still Move Me - Dan Seals
    1987 -Sacramento Kings score only 4 points 1st quarter against the Lakers; fewest in a period since introduction of 24 second shot-clock in 1954
    1987- “Stars & Stripes”, skippered by Dennis Connor, defeated the Australian boat “Kookaburra III” for the fourth straight time to sweep the America 's Cup challenge and return the prized trophy to the US . This was the last Cup defense to be contested by 12-meter yachts. It came four years after Australia II with John Bertrand as skipper wrested the Cup from the US for the first time ever.
    1987 - Flamboyant pianist Liberace died at age 67 in his block-long palace in Palms Springs , California , officially of a brain disease, although it was a complication of AIDs. At one time, the entertainer was the highest-paid performer in Las Vegas .
    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.
    1996 - NBC aired the first of two parts of the mini-series Gulliver's Travels, starring Ted Danson as the title character. The venture, with its huge financial investment, had the potential for being a giant flop, but it was a gamble that paid off. The show was NBC's highest-rated miniseries in four years, and most critics praised its faithfulness to the Jonathan Swift tale. 
    1997 –Simpson Guilty!!! A civil jury in Santa Monica , California found O.J. Simpson liable for the deaths of his ex-wife, Nicole Brown Simpson, and Ronald Goldman. The jury awarded $8.5 million in compensatory damages to Goldman's parents. A few days later, the jury added $25 million in punitive damages to go to Nicole Brown Simpson's estate and Goldman's father. Simpson was later ordered to give up his Heisman Trophy and nearly $500,000 in valuables, including his golf clubs, to help satisfy the judgment.
    1997- Mario Lemieux of the Pittsburgh Penguins scored into an empty net to become the seventh member of the NHL's t00-goal club.  Pittsburgh beat the Vancouver Canuks, 6-4. Players who previously scored 600 goals are Gordie Howe, Bobby Hull, Marcel Dionne, Phil Esposito, Mike Gartner and Wayne Gretzky, who got his 600th goal in his 720th game, one more than Lemieux required.
    1998-Microsoft founder/multi-billionaire Bill Gates gets a pie thrown in his face in Brussels Belgium .
http://www.zpub.com/un/bill/pie.html
http://home.epix.net/%7Etjwagner/gates.html
http://www.bitstorm.org/gates 
    2002-- On the occasion of civil-rights activist Rosa Parks' 89th birthday, Stevie Wonder sings his song "Happy Birthday" to her at the premiere of her TV-movie biography The Rosa Parks Story. The song had originally been written by Wonder to help bring about a national Martin Luther King holiday.
    2007--The Indianapolis Colts beat the Chicago Bears 29-17 at Dolphin Stadium in Super Bowl XLI. Colts QB Peyton Manning was named MVP. For the first time in Super Bowl history, the game was played in the rain, which was continuous throughout the game.
    2007--Billy Joel sang the United States National Anthem during the Super Bowl XLI (41) pre-game show and Prince performed during the halftime festivities.

Super Bowl Champions
    2007---Indianapolis Colts

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