Three Small Ticket Specialists Ft. Lauderdale, FL, Nashville, TN, and Richmond, VA. Click here for more information.

www.suntrust.com

Wednesday, February 21, 2007

Headlines---

Classified Ads—Senior Management
    Where in the world is Paul Weiss?
        Cartoon---Late News
Equipment Leasing Today Magazine
"Navigating the Intersection of Law and Business."
    Classified Ads---Help Wanted
        Letters---We get eMail
Leasing 102 --by Mr. Terry Winders, CLP
“What is a lease?”
    Top Stories---February 12-16
        Net Sol Reports $4.6 MM net loss 4th Quarter
Orix Leasing in the USA
    RW Professional Sentencing Up-Date
        Credit crisis: nonprime mortgage market
InsurBanc Introduces Equipment Leasing Program
    MicroBilt Appoints Oscar Marquis to Board
        Allison Farey, pres. Matsco/”Dental Economics”
Barclays Bank profits rise by a third in 2006
    News Briefs---
        You May have Missed---
California Nuts Brief---
    Sports Briefs---
        "Gimme that Wine"
Calendar Events
    Snapple Real Facts
        Today's Top Event in History
This Day in American History
    Winter Poem
        SuDoku
            Daily Puzzle

######## surrounding the article denotes it is a “press release”

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Classified Ads—Senior Management

To place a free “job wanted” ad here, please go to:
http://64.125.68.91/AL/LeasingNews/PostingForm.asp

For a full listing of all “job wanted” ads, please go to:
http://64.125.68.91/AL/LeasingNews/JobPostings.htm

[headlines]

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Where in the world is Paul Weiss?

by Christopher Menkin, editor

It was quite a surprise to learn that Paul Weiss had resigned from Icon Capital as president on December 1, 2006. None of our friends and contacts were aware of this. He does not answer his home telephone number. He was one of the best on the Leasing News Advisory Board.

Icon Capital, the company he helped found, last year had become the largest public equity lease fund in North America.

April 12, 2006. Paul Weiss, who was then President and Director of Icon Capital, also Vice Chairman of the Board of Directors of ICON Holdings, ICON's parent company, submitted his resignation to the Leasing News Advisory Board.

Paul cited the primary reason was his company acquiring CLEARLINK Capital Corporation (CLEARLINK) (TSX:CNK), a financial services provider and equipment trading organization based in Mississauga, Ontario, Canada,

"’ My duties may be less, increasing in some areas, but my main activity has been changing the most as my primary focus is coordinating our company's equity fundraising, " he said. " We have grown and today are the largest sponsor of equipment leasing programs which are marketed through over 100 registered broker-dealer firms, and there's a lot to do to keep them happy.’

His biography from the Icon Capital web site:
“Paul B. Weiss, 45, has been our President and Director since January 1, 1999. Mr. Weiss was our Director and Executive Vice President responsible for lease acquisitions from November of 1996 until December 31, 1998. Mr. Weiss served as Executive Vice President and co-founder of Griffin Equity Partners, Inc. from October of 1993 through November of 1996. Prior to that, Mr. Weiss was Senior Vice President of Gemini Financial Holdings, Inc. from 1991 to 1993 and Vice President of Pegasus Capital Corporation (an equipment leasing company) from 1988 through 1991. Mr. Weiss has a B.A. in Economics from Connecticut College. Mr. Weiss has been in the equipment leasing business since 1988.”

The July 17, 2006 press release announced:

“ICON Fund to Become Largest Public Equipment Leasing Fund

“ICON is the fifth largest independent equipment leasing and financing company in the United States according to the 2006 Monitor 100 Report , and the largest privately-held independent equipment leasing and finance company in the United States. ICON is headquartered in New York City and has offices in San Francisco, Boston, Toronto, Vancouver, and London...The company was established in 1985. ICON currently manages six (6) publicly sponsored programs that have raised approximately US $750 million to date and has sole management responsibility for almost US $2 billion invested in leased equipment in its sponsored programs.”

I had lunch with Paul at Tadich Grill, very close to his office in San Francisco. He and a group had put together an informal group of those involved in equipment leasing that turned into quite a gala for husband and wives. They met for several years.

Paul was very active as an advisory board member of Leasing News.
It was therefore a big surprise, in fact, my mouth dropped open, to receive a press release from Icon Capital on February 15th naming a new president:

“Thomas W. Martin, the Chief Operating Officer and a director of ICON since 1996, has also been appointed President. While continuing in his roles as COO and director, Mr. Martin now oversees the day-to-day operations of the company and its affiliates in his capacity as President.

“Patricia Palmer has been appointed Executive Vice President of ICON and Executive Vice President – Equity Securities of ICON Securities Corp…Ms. Palmer, who joined ICON in 1996, was formerly Senior Vice President of ICON and ICON Securities. Prior to joining ICON, Ms. Palmer was Regional Marketing Director at PLM Securities Corp. and Product Manager at Phoenix Leasing, Inc., contributing to her more than 18 years of experience in the securities industry focusing on marketing equipment leasing programs

“Janet Lee has been appointed Senior Vice President – National Accounts of ICON Securities. Ms. Lee, who joined ICON in 2003, was formerly Vice President – National Accounts of ICON Securities. Prior to joining ICON, Ms. Lee spent more than 5 years on Wall Street, including two years with Banc of America Securities in Equity Research and Institutional Sales and most recently with Morgan Stanley in Equity Research.”

An e-mail inquiry as to what position Paul Weiss had taken brought this response:

“Regarding Paul Weiss, as noted in the Form 8-Ks that were filed by each of the ICON Funds last December, Mr. Weiss resigned as President of ICON Capital on December 1, 2006.”

Joel S. Kress
Senior Vice President
ICON Capital Corp.
100 Fifth Avenue
New York, NY 10011

This filing was found at www.nasd.com:

“ICON LEASING FUND ELEVEN, LLC
SUPPLEMENT NO. 2
DATED NOVEMBER 27, 2006
TO PROSPECTUS DATED
JULY 3, 2006
Summary
We are providing you with this Supplement No. 2, dated November 27, 2006 to update the Prospectus dated July 3, 2006, as amended by Supplement No. 1, dated August 28, 2006. The information in this Supplement No. 2 supplements, modifies and supersedes some of the information contained in the ICON Leasing Fund Eleven, LLC (“Fund Eleven”) Prospectus, as amended by Supplement No. 1. This Supplement No. 2 forms a part of, and must be accompanied or preceded by, the Prospectus, as amended by Supplement No. 1.

“Transaction with an officer of the Manager
On November 6, 2006, Paul B. Weiss and the ultimate parent (the “Parent Company”) of the Manager, reached an agreement in principle whereby Mr. Weiss will sell his stockholder interest in the Parent Company to the Parent Company (the “Transaction”). In connection with the Transaction, Mr. Weiss will resign as President of the Manager effective as of the date of the consummation of the Transaction, but will continue to serve as a director of the Manager through the end of the Fund Eleven's current offering of Shares.”

Leasing News asked Joel S. Kress, Senior Vice President, ICON Capital Corp., for the dollar amount involved and the reason for the resignation:

“The fund is not complete – it will close no later than April 21, 2007 – and Paul is still a director of ICON Capital; he resigned as President on December 1. The dollar amount that Paul received, as well as any other specifics of the terms transaction that were not disclosed in the Form 8-K that you excerpted, are confidential and cannot be disclosed by either party. As disclosed in the 8-K, Mr. Weiss’ resignation as President was related to the agreement by which Mr. Weiss would no longer remain with the company. No reasons other than that.”

When pressed, Mr. Kress stated:

“The parties are subject to a confidentiality agreement regarding the terms and facts surrounding this transaction.”

Mr. Kress was kind enough to respond, and I apologize for being thick headed. I couldn’t believe that Paul Weiss would resign or why it was so sudden, or to my viewpoint, kept so quiet.”

“About ICON

“ICON is the fifth largest independent equipment leasing and financing company in the United States according to the 2006 Monitor 100 Report, and the largest privately-held independent equipment leasing and finance company in the United States. ICON is headquartered in New York City and has offices in San Francisco, Boston, Toronto, Vancouver, and London and provides businesses with an array of specialty finance solutions that range from traditional leasing of equipment types such as information technology, aviation, marine medical, manufacturing, materials handling, telecom, and furniture, fixtures, and equipment to highly structured financial products for unusual asset types and emerging companies. ICON was established in 1985 and currently manages six publicly registered equipment leasing programs that have raised approximately US $1 billion to date and has sole management responsibility for almost US$2 billion invested in leased equipment in its sponsored programs since their inception.”
--from their press release

[headlines]

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[headlines]

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Equipment Leasing Today Magazine

The February, 2007, edition of Equipment Leasing Today, published by the Equipment Leasing and Finance Association (ELFA), has an article by Michael J. Rizzo, "Navigating the Intersection
of Law and Business."

The quote below the title, "By building relationships and thinking like a business partners, in-house counsel can be more than a "necessary evil."

This an extremely informative and well-written article by Michael J. Rizzo, who is president and CEO of U.S. Bancorp Business Equipment Finance Group, the $3 billion small ticket leasing subsidiary of U.S.Bancorp.

Leasing News does not have permission to “re-print” the article, but to give you an idea, here are some of the “headlines” on the section pages:

“The job of a company’s in-house counsel is to help the CEO and other executives choose the best path at each intersection.”

“Thinking like a lawyer is only half the battle. In business, each legal decision has very real implications for the company’s growth, profitability and even its long-term viability.”

“The management team must understand and appreciate the somewhat foreign approach of the in-house counsel, who will almost always frustrate the CEO or National Sales Manager.”

“Fans of the original Star Trek series might recognize that one of the greatest non-lawyer ‘general counsels’ was Mr. Spock.”

“Some analysts attribute the scandal at Enron to a general counsel that was too far removed from the day-to-day management of legal risk and decision-making.”

“The wise general counsel can explain the broader legal picture and advise her client to choose a path of restraint in situations involving bad facts or when the legal environment is unusually uncertainly.”

In discussing 2A and NorVergence:

...given the equitable lessees and the attorneys general of more
than thirty states, the analysis than a review of legal precedent or applicable law...The tense conversations between the CEOs and the GCs of the impacted leasing companies went something like this:

CEO:”I thought you told me that courts have always enforced hell and
high water provisions? Why should we back down in this case?
GC: “First of all, I said that courts have generally enforced hell
and high water provisions.”
CEO: “Same difference. If that’s the case, why would we fold up our
tents and run away?”
GC: “Because the facts in this case are terrible. We have lessees stuck
paying large bills for equipment that was supposed to be used for a service that is no longer being provided.”
CEO: “Not our problem. The lease says pay no matter what. Isn’t this America? What the heck happened to enforcing contracts?
GC: “All I’m saying is that this is not a good opportunity to test the
notion of hell and high water leases because, given the bad facts, we
could lose. That would jeopardize the enforceability of every lease in our portfolio as well as every other lessor’s portfolio.”
Sometimes the issue is much bigger than the case at hand...

The front page of the magazine features the lead article by Susan L.
Hodges on where the economy is headed, perhaps a cut in Fed rate...

Equipment Leasing Today is free to members of ELFA. Non-members yearly subscription is $100.00 The magazine has other articles of great interest, in depth, consistently current and authoritative.

To subscribe:
http://www.elaonline.com/Store/ELTsubscribe.cfm

[headlines]

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

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Sales Professionals

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To learn more or for more info, click here www.socalleasing.com

Small Ticket Specialists

Three Small Ticket Specialists Ft. Lauderdale, FL, Nashville, TN, and Richmond, VA. Click here for more information.

www.suntrust.com

[headlines]

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Letters---We get eMail

Christopher “Kit” Menkin, Editor

Weather report

“We returned to work on Thursday.  Everything is back to normal. 

“Thank you,”

Paul Witte
First Federal Leasing
Richmond, Indiana
paul@firstbankrichmond.com

---

---

“Marlin attracts a lot of attention because they have a lot of employees and deal with a lot of brokers. Frankly, Marlin has fared better than I expected them to when they first went public. The conference call today confirmed my expectations that they are just ‘putting their toe in the water’ with the factoring and commercial finance businesses. I don't expect either business to become a major contributor in the next few years. As a public company, these moves and the Utah bank are likely meant to demonstrate that management is aggressive pursuing diversification efforts.”

(name with held)

(I think they would have more success by opening up a “PayDay” lending operation in their offices. Or better yet, how about a PayDay “drive in.” They can drop off their invoices to get factoring while they wait. Maybe serve ‘em cappuccino, too, at a nominal documentation charge. editor)
---

“I listened to the conference call this morning. They tell a good story, although you might be getting better info from disgruntled shareholders and employees. The shareholders shouldn't be too unhappy with Marlin's good growth record and a better stock market valuation than CIT. Also, any rapidly growing company is sure to have unhappy employees and former employees who don't like the way they were treated. Marlin will be a valuable company for a major financial services company that can reduce their cost of funds. I wouldn't be surprised if they are sold within the next 2 years.”

(name with held)

(I can agree the company most likely will be sold in years. Perhaps a company with a lower cost of funds will make a difference. The staff is very efficient and below the board room, is not the
complaint, in fact, quite the opposite: always complimentary.

And while I realize the attempted comparison with CIT is because they are the only two publicly traded leasing companies in the small ticket market; however, comparing Marlin to CIT is like comparing a tricycle to a Porsche 911 Turbo. Or maybe a 757 airplane. CIT has been around since 1908, does the full gambit of financing, from small to large, from leasing to loans, many other financial products, you name it, with more than 7,300 employees in locations throughout North America, Europe, Latin America, and Asia Pacific. The top management of Marlin does not compare to
the top management of CIT in any way or fashion. editor)

---

“Since there is so much talk about investors being unhappy with Marlins' performance, do you have any insight into why? A look over their financials and they seem solid. Strong buys are recommended from well known analysts. Is this a case of the original investors simply wanting their money back? Why is it that pubically traded leasing companies never offer stellar performance? I always suspected we are in a low margin industry compared to the high tech sector. Your insight would be greatly appreciated!!”

(name with held )

(I really can’t comment about leasing company stock in general, such as ePlus or Willis, for instance. Most leasing companies are divisions of banks or privately held. It seems you stay small, grow and get bought out, as the cost of funds and operations do not support the middle ground.

As to the question of investment, I personally leave that up to the Merrill-Lynch Private Client Group. In the old days, when I could get inside information on growing companies here, I would make
the decision to buy or sell. But now since inside information is illegal, or even any talk about stock performance puts you in the news, company board members are afraid to mention almost everything.

(Concerning Mariin, the stockholders and ex-employees who left with Marlin founders stock, send e-mails that they are more concerned that the officers keep selling stock, several times a month, when if they had more confidence in their company, they would be purchasing it, as they expected it to go higher. In addition, when the chairman says everything is hunky dory, that specifically
he is happy about the company’s performance, why does he ask the president to leave, paying him a lot of money to do so? editor )

----

“Thanks for the Shakespeare poem in today’s edition.

“As a jazz fan, you might be interested to know that George Shearing set a number of Shakespeare sonnets and poems to music; and “Blow, Blow Thou Winter Wind” is one of them.

“It’s been recorded by Brian Kay, with an English chorus and jazz trio (but not Shearing, I’m sorry to say). You can hear a clip on Amazon at
http://www.amazon.com/Music-Hear-Sir-Joseph-Barnby/dp/B000006B6S/sr=1-3/
qid=1171645538/ref=sr_1_3/103-7633417-4572665?ie=UTF8&s=music

“You’ll love it.”

(Paul Bent is an active musician;– now a singer, formerly a violinist and bass player. He is a professional, on the payroll of the Los Angeles Master Chorale, singing at 8 concerts a year at Walt Disney Concert Hall. He also is active of singing in the Los Angeles, California area, – jazz and classical, mostly.

(If you missed the poem, please go here:
http://www.leasingnews.org/archives/February%202007/02-16-07.htm#poem )

--

"The Arizona Equipment Leasing Association (AZELA) had its winter meeting at the Starfire Country Club. There were over 40 attendees. There were many new faces in the crowd as well as seasoned finance professionals who had a chance to introduce themselves and network before the informative presentation by Dennis Brown from Equipment Leasing & Fianance Association (EFLA). The presentation focused on the concerns that will affect our industry through legislation that is pending in many states."

Bernice Truszkowski, CLP
efl1@prodigy.net

--

Just wanted to let you know the Terry Winders articles are very informative. Thank you for the daily education.

Eric Desmond
edesmond@atlanticfunding.org
--

http://www.leasingnews.org/archives/February%202007/02-14-07.htm#memory

“The article in both Monday and today’s Leasing News were good as were the comments from Ted, John, and Oren.

“In looking back on 30 years it is amazing how the leasing industry has changed and where people have ended up. What hasn’t changed though are the attributes of successful people such as one’s reputation/integrity, ability to quantify and take calculated risks, and treating people with respect. Hal had the ‘right stuff’ in all of these categories. Great role model for all leasing professionals. Plus he knew how to have fun and balance work/family/play.”

Matt Shieman
matt@blackhawk.aero

[headlines]

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Leasing 102

“What is a lease?”

by Mr. Terry Winders, CLP

One of our problems comes from the age old question “How to we distinguish ourselves from traditional lending or what is called a conditional sales contract”. For Federal income tax we must prove our “intent and the IRS looks at the similarities to determine the right of the lessor to have capital recovery benefits. On the legal side a lot of emphases is placed on the economic life and purchase options. GAAP accounting standards look at the “economics” of each deal. However, as we move forward and observe many leasing companies and leasing trade associations changing their names to replace leasing with equipment financing I wonder if we beginning to give up our reliance on leasing. I feel this is happening because so many that claim to be in the leasing business know so little about it and how to sell it. Equipment leasing is an excellent product properly understood and properly sold. But, leasing is not lending.

If you want to offer commercial equipment leasing then explain the differences from lending and ignore the similarities. As a true lessor you are the equipment owner and are expected to act like one. One example is, do not offer purchase option unless forced to do so, and then only FMV. Prepare to remarket or release off lease equipment. Prepare to make “money” doing so! It is not a sin to benefit from the remaining useful life or value of the equipment.

Make sure you understand and document the lessee’s “use” of the equipment and have an acceleration clause so if the “use” is grater than originally bargained for there can be a change in the lease payment to reflect the change in equipment use. Inspect your equipment at least once a year if practical. This creates a good communication with your lessee and usually provides, in addition to an equipment audit, knowledge of additional business.

Make sure your return conditions are spelled out based on the lessee’s use. Then you should have each piece of equipment inspected upon return to determine compliance with the return conditions and adherence with maintenance requirements.

Create leases that are for the actual term of “use” instead of so many years. Create lease payments that are driven by the production or cash flow of the lessee and not just a level repayment. Spend as much time reflecting on the impact of the equipment to the lessee’s business than you do on the credit requirements.

Have your documents reflect defaults that are tied to the use, maintenance and condition of the equipment and not just repayment or tax and liability problems.

You also need to get deeply involved in defined equipment markets so that you can have a good understanding of the different manufacturers, the quality of there products and the life cycles of that market. Never forget the word “equipment” is the most important word in our industry name. The last requirement is to understand the equipment so well that you can take responsible residuals resulting in properly well though out profit margins. Remember the equipment residual is part of your profit structure not part of your principle. If you study the equipments effect on the lessee’s business it will help you make the credit decision.

To be a lessor is not to be a lender but be a trained personal property term arranger.

Mr. Terry Winders has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at leaseconsulting@msn.com or 502-327-8666.
He invites your questions and queries.

[headlines]

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Top Stories---February 12-16

Here are the top ten stories most "opened" by readers last week.

(1) New President of Marlin Leasing
http://www.leasingnews.org/archives/February%202007/02-16-07.htm#huh

(2) Mike Bennie--- next President of Marlin Leasing?
http://www.leasingnews.org/archives/February%202007/02-12-07.htm#marlin

(3) Leasing 102 --by Mr. Terry Winders, CLP
“What is a Finance Lease?”
http://www.leasingnews.org/archives/February%202007/02-12-07.htm#102

(4) $112,000 First Year Depreciation Allowance
http://www.leasingnews.org/archives/February%202007/02-12-07.htm#tax

(5) One World Leasing up-date by Ira Romoff
http://www.leasingnews.org/archives/February%202007/02-14-07.htm#owl

(6) Accounting/Tax Chart from TechLease
http://www.leasingnews.org/archives/February%202007/02-12-07.htm#tech

(7) Are you a Dummy? Take the Leasing Test
http://www.leasingnews.org/archives/February%202007/02-16-07.htm#dummy

(8) Leasing Pioneer Harold McAfee Passes Away
http://www.leasingnews.org/archives/February%202007/02-12-07.htm#mcafee

(9) Ice Storm hits MidWest/NorthEast Leasing Companies
http://www.leasingnews.org/archives/February%202007/02-14-07.htm#ice

(10) ) Sales makes it Happen---by Linda P. Kester
“Slow Down”
http://www.leasingnews.org/archives/February%202007/02-14-07.htm#sales

[headlines]

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Net Sol Technology Reports $4.6 million net loss 4th Quarter

Net loss for the second quarter of fiscal year 2007 was approximately $4.6 million, reported NetSol Technologies Inc, while revenues rose 60% for the year: $7.2 million

The Calabasas, California, multinational provider of enterprise software and IT services to the financial services industry, reported their second quarter loss was due to the acquisition of McCue Systems
of Burlingame, California.

“The bottom line was adversely affected by a one-time, non-cash charge relating to our acquisition of McCue Systems last June,” explained Najeeb Ghauri, chairman and CEO. “ Excluding this charge, NetSol would have reported EBITDA of 2 cents per basic and diluted share and a net loss of 2 cents per basic and diluted share for the quarter.

Najeeb Ghauri

“All charges relating to the acquisition and integration of McCue Systems now are behind us.” Ghauri added, “In the months to come, we will have over 50% of McCue Systems’ development efforts delivered by NetSol offshore resources, greatly enhancing the capacity of the development staff to deliver new enhancements in upcoming LeasePak releases.”

Full press release and financial statements available at:
http://www.marketwire.com/mw/release_html_b1?release_id=214466

[headlines]

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Orix Leasing in the USA

Q3 2007 Orix Corporation Earnings Conference Call (English) - Final

Mr. Haruyuki Urata, who is a Corporate Senior Vice-President and Head of the Office of the President.

“HARUYUKI URATA: Yes. First, in the United States our Leasing Corporate Financing business we think would be -- have more business opportunities together with Houlihan Lokey. That means -- as you know, Houlihan Lokey has not given any new financing after the financial restructuring for the clients. But on the other hand, our U.S.A. leasing operations can provide corporate financing. In that sense, we believe, yes, it will be a very big synergy impact in the future.

“For [these properties] currently, we try to join the offices and human resources between the combination of Houlihan Lokey and our existing U.S.A. operations. Especially in the Dallas, New York and Los Angeles and San Francisco, both of our U.S.A. operations have had different offices, but step by step we have become -- we have had -- we begin to have the same offices together.

“And in addition, in the Asian areas… we have already set up the new offices in Hong Kong for Houlihan Lokey and we together hired a new person in those areas to expand our operation jointly in the Hong Kong and China, and so on. And, especially in Japan, as you know, Orix Japan has operated and is funded in different banking businesses in the [embassy] areas and we believe, through a combination between Houlihan Lokey's know how and expertise and Orix's Japanese network, we believe, yes, there will be more business opportunities in the investment and banking-related services.”

[headlines]

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RW Professional Sentencing Up-Date

Many readers have been following this story since we first reported that on June 21,2002, forty FBI agents raided the offices of RW Professional Leasing in Island Park, NY, on Long Island. The trial has been long, and all have been found guilty and sentenced, except Stephen Barker of Southern California, who has been in jail since being arrested. He allegedly was considered a flight risk since he is from South Africa.

Stephen Barker originally said he was innocent because he was following orders. The lucrative commissions, and computer information, plus testimony of others, found him guilty. Afterwards, he reportedly plead to a lesser sentence and fine consideration for showing how the computer records showed who paid, who did not, how the money flowed, as the US Attorneys office is trying to find money to repay victims. The dollar amount involved with Bank of New York, American Express, over twenty community banks, and lessees who paid off leases, but RW Professional did not, may be up to $100 million.

About to be sentenced, Barker obtained a new attorney, who requested a delay, plus the fine and other matters were being negotiated. The sentencing date was postponed, but is now scheduled for March 23 at 11:30 before U.S. District Judge Arthur Spatt in Central Islip, Long Island, New York.

Here is a collection of RW Professional articles:
http://www.leasingnews.org/Conscious-Top%20Stories/RW_stories.htm

[headlines]

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Credit crisis: nonprime mortgage market

ABSnet

By Mark Fogarty

A credit crisis is taking shape in the nonprime mortgage market, perhaps the worst one observed since the great subprime flight-to-quality collapse of 1998.

And with a change of control in Congress amid signs of attentiveness to the views of consumer groups, the niche does not have much time to right itself before facing much more structure from the government than it ever wants to see. (What would a congressionally chartered nonprime secondary agency with tough underwriting standards and policies leaving thin margins for lenders be called, Nonnie Mae?)

Nonprime servicers meeting this week in San Diego at the Mortgage Bankers Association's annual servicing conference (which also includes A-paper servicers) will properly be worried about the prospects for this year.

In the past several months, several nonprime lenders have exited the business or closed their doors. The recent announcement by HSBC that it would have to more than double loan-loss reserves has sent a chilling wind through the business, already hurt by multiple announcements of buybacks caused by Wall Street firms returning poorly performing loans to the lenders that originated them.

What is causing this bum's rush to the door? This is not an interest rate crisis, as rates have remained remarkably benign. It is not a regulatory crisis, as the agencies and Congress have yet to act in any industry-threatening way. It is not even a home-equity crisis, as real estate price softening, while real, is not yet at burst bubble stage nationwide (some local markets in Florida or California may be at that stage already).

At its heart, this is a credit crisis, caused by a rush to keep volumes increasing in a mature but still-healthy market. Creative financing and slack underwriting have teamed to bring things to a head, with the Wall Street firms that package nonprime mortgages into asset-backed securities blowing the whistle.

That's the bad news. The good news is that while lenders can't change interest rates or change the minds of legislators determined on reform, they can do something about underwriting standards. And they should do it right away. Interest-only, payment-option loans, stated-income, low-doc and no-doc loans - stop relying on this stuff to generate fees and give the illusion of mortgage-boom-as-usual.

There's plenty of actual demand in the market, if not the crazy demand of 2003. Lenders should target the $1 trillion of refinance business they could do through IO resets, not to mention the growing cadres of emerging market folks ready and able to support mortgages, a number projected to grow each year for the next dozen.

And the government already has a Nonnie Mae of sorts, called Ginnie Mae. Ginnie Mae securities have shrunk to less than 3% of the market, due directly to competition from the nonprime market. Here's a chance for the Federal Housing Administration to be reformed to compete effectively for the business of first-time buyers and low-mod incomes. And a reminder to lenders: FHA and Department of Veterans Administration mortgages are insured by Uncle Sam.

Another reminder: with the borrowing habits of modern-day Americans, the demand for nonprime mortgages is here to stay. This market cannot be legislated or short-leashed out of existence ever again.

[headlines]

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

InsurBanc Introduces Equipment Leasing Program

InsurBanc, a federally charted savings bank serving independent insurance agents, brokers and their clients, is rolling out its Agents' Express Leasing program, a new equipment leasing plan for agencies and their clients.

The program is a result of a new partnership between InsurBanc and equipment financing expert, De Lage Landen Financial Services of Wayne, Penn. Agents' Express Leasing offers terms from 12 to 60 months and is available for, but not limited to, financing the following equipment types:

* Computers and software
* Office technology: telephones, printers, copiers, fax machines, audio/visual equipment
* Office Furniture and accessories; desks, cubicles, file cabinets, bookcases, signs and cctv security
* Commercial automobiles.

With a minimum transaction of $5,000, terms for most equipment leases are available with no money down, 100 percent financing and lower monthly payments then traditional loan alternatives. Leasing for commercial automobiles includes unlimited mileage terms.

"Our equipment leasing program will now allow independent agents to utilize current technology in order to work more efficiently and stay competitive," said Robert J. Pettinicchi, executive vice president and chief lending officer. "We are excited to offer this innovative service to our clients and remain dedicated to providing specialized banking products and services for independent insurance agents and brokers." He added, "Providing leasing, along with our other attractive financing options, allows us to work with the client to determine the best approach."

Source: InsurBanc, www.insurbanc.com.

[headlines]

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

MicroBilt Corporation Appoints Oscar Marquis to Board of Directors

KENNESAW, GA ––
MicroBilt, the single source and industry leader for risk management information, today announced the appointment of Oscar Marquis to their Board of Directors. Marquis joins MicroBilt as an expert on privacy and fair information practices. He has helped in the development of company policies governing the use and distribution of public and non-public data and the use of customer information.

Marquis has participated on behalf of clients with self regulatory organizations, has represented information services companies and users of consumer information before various regulatory agencies, has participated in state and federal hearings on privacy topics, and has been instrumental in the development and implementation of procedures for compliance with laws such as the Gramm-Leach-Bliley financial privacy regulations, the EU Data Protection Directive, and the Fair Credit Reporting Act. He served as General Counsel of Trans Union LLC, for over 15 years and was on the company's executive council. He was one of ten people appointed to three-year terms on the Federal Reserve Board's Consumer Advisory Council in 2001. Mr. Marquis also served on the Board of Directors of the Credit Industry Research Council.

Marquis is a frequent speaker on privacy, credit reporting and other information management topics. He has testified before Congress and the legislatures of many states on privacy and credit reporting issues, and he has appeared on CNN and Nightline.

“Oscar Marquis brings a wealth of industry knowledge and experience to our company and will be an asset to our board,” said Walter Wojciechowski, Chairman, CEO and President of MicroBilt. “We are fortunate to have such a high caliber veteran serving the compliance and legal aspects of our company.”
Commenting on the appointment to MicroBilt’s board, Oscar Marquis said “I look forward to being a part of MicroBilt’s future growth and hope to offer strategic guidance and consultation on the issues related to compliance, regulation and use of consumer information.”

Marquis is a partner at Oldaker, Biden & Belair, LLP law firm (www.obblaw.com) and also serves as partner with MicroBilt through their joint venture, ComplyTraq, LLC (www.complytraq.com).

About MicroBilt
MicroBilt is the industry leader in risk management information and single source provider for credit bureau, collections and screening data access and retrieval. MicroBilt is certified through and provides interfaces with the three consumer bureaus, Equifax (NYSE: EFX), Experian (London Stock Exchange: EXPN) and Trans Union and three commercial bureaus, D&B, Experian and Equifax Business as well as LexisNexis, eFunds Corporation (NYSE: EFD) and ChoicePoint (NYSE: CPS). This data access is available via the Internet at www.CreditCommander.com, a system's integration tool kit, dedicated terminals and dial-up software.

MicroBilt also enables web sites to enhance their content offerings by delivering a CreditCommander.com private label site to their established online communities. For more information, please contact MicroBilt Corporation, 1640 Airport Road, Suite 115, Kennesaw, GA, 30144 or www.MicroBilt.com. Telephone: 1-800-884-4747.

[headlines]

### Press Release ###########################
--------------------------------------------------------------

News Briefs----

Allison Farey, president of Matsco, with more than 25 years of experience in the equipment leasing and financial services industry, article in “Dental Economics:”
http://de.pennnet.com/display_article/285110/54/ARTCL/none/none/Associateship-or-O
wnership?-Taking-the-Path-That%E2%80%99s-Right-for-You/

Barclays Bank profits rise by a third in 2006
http://news.monstersandcritics.com/business/news/article_1265842.php/
Barclays_Bank_profits_rise_by_a_third_in_2006

Solid quarter for HP despite some disappointments: Hurd
http://www.echannelline.com:80/usa/story.cfm?item=21705

Retail rebound: Department store sales are climbing
http://www.usatoday.com/money/industries/retail/2007-02-20-dept-stores-usat_x.htm

Wal-Mart's 4Q Profits Rise 9.8 Percent
http://www.washingtonpost.com/wp-dyn/content/article/2007/02/20/
AR2007022000362.html

Wal-Mart picks sites with high jobless rates
http://www.boston.com/business/globe/articles/2007/02/20/
wal_mart_picks_sites_with_high_jobless_rates/

Electric rate increase could cost Illinois 20,000 jobs, study says
http://www.stltoday.com/stltoday/business/stories.nsf/story/
90163F17577A65DB86257288000B8C09?OpenDocument

New Orleans Mardi Gras Photographs
http://lpe.accessatlanta.com/gallery/view/events/0207/mardigras

[headlines]

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You May have Missed---

Home Depot chief sees tough '07 amid housing weakness
http://www.ajc.com/business/content/business/stories/2007/02/20/0220bizdepotearns.html

[headlines]

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Sports Briefs----

Barry Bonds says little, but hits homer in first workout
http://www.mercurynews.com/mld/mercurynews/16742509.htm

Cowboys' staff moves closer to completion
http://www.cowboysplus.com/topstory/stories/022107cpcowcoaches.1ca5f76b.html

Chargers tap a familiar face, Norv Turner, for head coach
http://www.signonsandiego.com/sports/chargers/20070219-1009-bn19norv.html

Ratto: Hard to imagine good replacement for Turner
http://www.sfgate.com/cgi-bin/blogs/sfgate/indexn?blogid=10

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California Nuts Briefs---

Governor Schwarzenegger Awards Leader Jersey to Levi Leipheimer, Who Retains Lead After Amgen Tour of California Sacramento Finish
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/
02-21-2007/0004531366&EDATE=

[headlines]

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“Gimme that Wine”

…will Sonoma become the next Napa?
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/02/16/WIG5OO2CE91.DTL

Brooding, Complex 2004 Châteauneufs---Eric Asimov
http://events.nytimes.com/2007/02/21/dining/reviews/21wine.html?ref=dining

Research shows 21-to-30 crowd and Gen Xers are trying new labels and often buy online
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/02/20/BUGQ8O5SRO1.DTL

Virginia May Create State-Owned Distributorship for In-State Wineries
http://www.winebusiness.com/news/DailyNewsArticle.cfm?dataid=46673

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

The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/

[headlines]

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Calendar Events This Day

Ash Wednesday
Marks the beginning of Lent. Forty weekdays and six Sundays
( Saturday considered a weekday) remain until Easter Sunday. Named for the use of ashes in ceremonial penance

Bangladesh: Martyr’s Day
National mourning day in memory of martyrs of the Bengal Language Movement in 1952. Mourners gather at the Azimpur graveyard.

Card Reading Day

Directory Day

Lent (February 21-April 7)
Most Christian churches observe a period of fasting and penitence (40 weekdays and six Sundays) beginning on Ash Wednesday and ending on the Saturday before Easter. The world Lent comes form “lengthen,” referring to the lengthening of the day that occurs in the spring.

Single-Tasking Day
Multitasking has proven infective. Today, do only one thing at a time without feeling guilty.

United Nations: International Mother Language Day
To help raise aware among all peoples of the distinct and enduring value of their languages.
www.un.org

Saint Feast Days:

· St. Avitus II of Clermont
· St. Valerius
· St. Verulus and Companions
· St. Severian
· St. Felix of Metz
· St. Gundebert
· St. Paterius
· Bl. Pepin of Landen
· St. Peter the Scribe
http://www.catholic.org/saints/f_day/feb.php

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Jamie Farr (who played Klinger on M*A*S*H) was the only member of the cast who actually served as a soldier in the Korean War.

http://helmi.home.pages.at/mash/english/cast/JamieFarr.html
http://www.jamiefarr.com/bio.htm

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Today's Top Event in History

1965- Malcolm X Shabazz, a black leader who renounced the Black Muslim sect to form the Organization of Afro-American Unity and to practice a more orthodox form of Islam, was shot and killed as he spoke to a rally at the Audubon Ballroom at New York, NY. Three men were convicted of the murder in 1966 and sentenced to life in prison. Born Malcolm Little, the son of a Baptist preacher, at Omaha, NE, May 19, 1925. Malcolm X was born Malcolm Little in Omaha, Nebraska, in 1925. In 1947, while in a New York prison, he was introduced to the radical teachings of Elijah Muhammad and the Nation of Islam and soon espoused their views. In 1964, Malcolm X was suspended by the NOI for his outspokenness and soon split with them. Following a pilgrimage to Mecca, he accepted the Islamic name El-Hajj Malik El-Shabazz, and at the time of his death, had begun to develop more moderate, multicultural views. The originator of the Muslim faith was murdered, some say by the heir, and the history of this sect is full of violence. Malcolm X autobiography, with the help of author Alex Haley, is one of the most powerful written. Of the people I interviewed as a newsman, he was the most powerful, electric individual, I can remember. His aura was very similar to President John F. Kennedy, who you could feel had walked into the room before you actually saw. Malcolm X controlled every conversation.
http://www.triadntr.net/~rdavis/malcolm1.htm
http://www.amazon.com/exec/obidos/ASIN/0345350685/qid=1013901913/sr=2-1/
ref=sr_2_1/104-3054308-9513505

[headlines]
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This Day in American History

    1704-The first permanent newspaper was "The Boston News-Letter," first issued this day. The first in Pennsylvania was "The American," published in Philadelphia in 1719. The first in New York was "The New York Gazette," in 1725; the first in Maryland was the "Maryland Gazette," issued at Annapolis in the summer of 1728. "The South Carolina Gazette," printed at Charleston at the beginning of 1732, was the first issued in that province; the first in Rhode Island was "The Rhode Island Gazette," printed at Newport in 1732; the first in Virginia was "The Virginia Gazette," printed at Williams burg in 1736; the first in Connecticut was "The Connecticut Gazette," printed at New Haven in 1755; the first in North Carolina was "The North Carolina Gazette," printed at New Berne the same year; and the first in New Hampshire was "The New Hampshire Gazette," printed at Portsmouth in the summer of 1756. At the period of the French and Indian war newspapers were printed in all of the colonies excepting in New Jersey, Delaware and Georgia. The printing-machines on which all the colonial newspapers and books were printed were simple in form and rude in construction.
    1821-Birthday of Charles Scribner . He and his sons form one of the most important publishing houses in New York. They published, among others, Hemingway, Fitzgerald, & Wolfe.
    1828- Cherokees receive their first printing press. The Sequoia tree is named after the man who invented the Cherokee alphabet, enabling writing and now printing.
    1855 – Washington Monument Dedication. The official dedication of the monument to honor President George Washington took place in Washington, D.C.. Now known as the Washington Monument, it wasn’t completed for another thirty-three years. In fact, the structure took a total of forty-eight years to finish. The stone obelisk honoring the first President of the United States was designed by Robert Mills who died in this, the year of the dedication.
    1855-Wesley College President Alice Freeman Palmer, born at Colesville, NY. She became president of Wellesley College at the age of 27. Under her leadership the school grew into one of the leading women's colleges. She was also instrumental in bringing the women's school Radcliffe College into its association with Harvard University. One of the organizers of the American Association of University Women, she served as its president for two terms. She was appointed the first dean of women at the University of Chicago when it opened in 1892. Palmer died Dec 6, 1902, at Paris.
    1858-First Burglar Alarm: Edwin Thomas Holmes installed the first burglar alarm in Boston, MA. The releasing of a spring by the opening of a door or window made a contact the caused a short circuit of the wires.
    1862-Slave Trading Hanging: the first execution for slave trading was carried out by the federal government by the hanging of Nathaniel Gordon at the Tombs prison, New York City. He had been tired and convicted of piracy under the lay of May 15,1820, which defined slave trading as piracy. Gordon, a native of Portland, ME, was the captain of the Erie. His ship was stopped by the U.S. Mohican about 50 miles off the African coast and was found to be carrying 890 Africans, including 600 children, to a slave market. The captives were released in Liberia and Gordon’s ship was brought to New York City, where his trial was held.
    1862-Battle of Val Verde. Gen. Henry Hopkins Sibley (described by his officers as "a walking whisky keg") led a band of Confederate volunteers from what is now Val Verde County here in southwest Texas to defeat in a Civil War battle in New Mexico. The goal was to bring the Western territory into the Confederate States of America, primarily for the gold and silver, and to keep the territory out of the United States. Confederate President Davis promoted Sibley to brigadier general on June 17, 1861, and sent him to Texas to put together a brigade to clear (what is now) New Mexico and Arizona of Union presence. He believed that his troops would be able to live off the land of New Mexico, and that the Union troops would not resist a Confederate invasion. On both counts, he was mistaken. While he defeated Union forces at Valverde and La Glorieta, he was unable to withstand the Union counterattack. He and his 1,500 remaining troops withdrew to Fort Bliss, Texas, and went to San Antonio to escape the California Column, under Union Brig. Gen. James H. Carleton. After this, Sibley was assigned to minor commands, and struggled with chronic illness and alcoholism. His performance in the Teche River Campaign of 1863 was poor. He was court-martialed and censured, but not convicted, after the Union failures at Irish Bend and Fort Bisland in April of 1863. Four years after the Civil War, he became general of artillery for the khedive of Egypt
http://www.tsha.utexas.edu/handbook/online/articles/view/VV/qkv1.html
http://www.digitalborder.com/~artpike/peco12.htm
http://www.confederatereuniongrounds.org/VVC.html
http://www.wood.army.mil/2-10IN/civil_war.htm
http://home.earthlink.net/~atomic_rom/hhsibley.htm
    1866-First woman dentist: Lucy Hobbs became the first woman to graduate from a dental school at Cincinnati, OH, earning a DDS degree.
    1878 - The first telephone directories issued in the U.S. were distributed to residents in New Haven, CT. There were less than fifty subscribers; many complained their names were not spelled correctly and others listed, said they preferred to be “unlisted.” Ads supported the publication.
    1887- Oregon becomes the first state to make Labor Day a holiday.
    1904 - The National Ski Association was formed in Ishpeming, MI
    1910-Tenor Sax player Big Al Sears born Macomb, IL ,
Died March 23, 1990
http://www.centrohd.com/biogra/s1/al_sears_b.htm
http://www.jazzvalley.com/musician/al.sears
http://www.wiu.edu/release.php?id=1366
http://www.redhotjazz.com/zackwhyte.html
http://www.cduniverse.com/productinfo.asp?pid=1087115&style=music
    1916-Battle of Verdun, the German High Command launched an offensive on the Western Front at Verdun, France, which became WWI's single longest battle. An estimated one million men were killed, decimating both the German and French armies, before the battle ended on Dec 15, 1916.
    1917—Trumpter player Tadd Dameron birthday
http://www.cleveland.oh.us/wmv_news/jazz30.htm
http://blackhistory.eb.com/micro/726/86.html
    1925- The New Yorker magazine published. Founded and edited by Harold Ross, he declares it is not "for the old lady in Dubuque." Some say the magazine to this day defines a “New Yorker”, perhaps, “wannabe New Yorker.” Dorothy Parker was Ross’ friend, as was James Thurber, the cartoonist. Thurber asked Parker, who later became dramatic & literary critic, to contribute some material to the magazine, which at the onset was running on a shoestring. She said, “I came by the office to write something, but somebody was using the pencil.”
http://www.pbs.org/wnet/americanmasters/database/algonquin_round_table.html
http://www.npg.si.edu/exh/caricatures/table.htm
http://www.newyorker.com/
http://www.upress.state.ms.us/books/d/defining_new_yorker_humor.html
    1931 -- Scott Fitzgerald’s short story “Babylon Revisited” is published in The Saturday Evening Post. It is arguably his finest piece among his semi autobiographical stories. It was later filmed as “The Last Time I Saw Paris,” with Van Johnson and Elizabeth Taylor.
http://freepages.history.rootsweb.com/~tdlarson/fsf/babylon/
    1932 –The camera exposure meter was invented in 1931 by William Nelson Goodwin, Jr. of the Weston Electrical Instrument Corporation, Newark, NJ, who obtained a patent this day on a thermal ammeter. The first one, also manufactured in February, 1932, was called a photoronic photoelectric cell, popularly now known as a camera exposure meter. It contained a dial calculating device for translating brightness values into camera aperture settings. It required no battery for its operation, as it changed light energy directly into electrical energy.
    1933-Jazz singer Nina Simone, whose real name is Eunice Waymon, was born in Tryon, North Carolina. She got her first gig in an Atlantic City nightclub, changing her name to avoid embarrassing her deeply religious mother. Simone earned a gold record in 1959 for her recording of Gershwin's "I Loves You Porgy." By the late 1960's, she had become deeply involved in the black-power movement, alienating the white audience with such songs as "Mississippi Goddamn" and "Four Women," both of which were banned on radio. Nina Simone quit the music business in 1974, making a comeback album four years later.
http://www.ninasimone.com/
http://homepages.moeller.org/gstanforth/new_page_28.htm
    1941-Trumpeter Jonah Jones joins the Cab Calloway Band. Arranger Buster Harding writes “Jonah Joins the Cab” as a welcome (Okeh 6109.)
    1947 –The instant camera was the Polaroid camera, invented by Edwin Herbert Land and demonstrated this day at a meeting of the Optical Society of America at the Hotel Pennsylvania, New York City. The camera contained a specially prepared photographic paper with “pods” of developer and hypo sandwiched with the film. The turning of a knob squeezed open one of the pods, which developed the negative and made the black and white print. The picture was produced in about one minute. It was not available for sale to the public until November. Various improvements have been made including color, speed of film and development. The digital camera has now replaced the simplicity and low cost of the camera and film, but the once profitable company has fallen on hard times.
http://inventors.about.com/library/inventors/blpolaroid.htm
http://homepages.moeller.org/gstanforth/new_page_28.htm
http://aligator222.tripod.com/camera/p210.html
    1948---Top Hits
I’m Looking Over a Four Leaf Clover - The Art Moonie Orchestra
Ballerina - Vaughn Monroe
Now is the Hour - Bing Crosby
I’ll Hold You in My Heart (Till I Can Hold You in My Arms) - Eddy Arnold
    1951-Cornet player Warren Vache born Rahway, NJ
http://www.allaboutjazz.com/reviews/r0200_060.htm
http://www.riverwalk.org/profiles/vache.htm
http://www.jazzspot.com/jazzspot/reviews/warren_vache.htm
http://www.rollingstone.com/artists/recordings.asp?oid=8761
http://www.cosmik.com/aa-november00/reviews/review_al_sears.html
http://www.allaboutjazz.com/reviews/r0599_107.htm
    1953- Lighthouse All-Stars record at Hermosa Beach, CA ( Viva Zapata, Four Others.” This is the start of the famous Lighthouse All-Stars, who as teenage from 1956-61 would visit often: Shelly Manne, Shorty Rodgers, Bud Shank, André Previn, Art Pepper and many more.
    1954 - No. 1 Billboard Pop Hit: ``Secret Love,'' Doris Day.
    1956---Top Hits
Rock and Roll Waltz - Kay Starr
Lisbon Antigua - Nelson Riddle
It’s Almost Tomorrow - The Dream Weavers
Sixteen Tons - Tennessee Ernie Ford
    1958-- Gibson's first "Flying V" guitar is shipped from a factory in factory in Kalamazoo, MI.
    1963- the Rolling Stones went “down under, playing Adelaide, Australia. 5,000 fans clashed with police. What has this to do with American History? America
loves the Rolling Stones: Satisfaction is often voted the most favorite Rock ‘n” Roll song.
http://classicrock.about.com/library/artists/blstones.htm
    1964---Top Hits
I Want to Hold Your Hand - The Beatles
You Don’t Own Me - Leslie Gore
She Loves You - The Beatles
B.J. the D.J. - Stonewall Jackson
    1965- Malcolm X Shabazz, a black leader who renounced the Black Muslim sect to form the Organization of Afro-American Unity and to practice a more orthodox form of Islam, was shot and killed as he spoke to a rally at the Audubon Ballroom at New York, NY. Three men were convicted of the murder in 1966 and sentenced to life in prison. Born Malcolm Little, the son of a Baptist preacher, at Omaha, NE, May 19, 1925. Malcolm X was born Malcolm Little in Omaha, Nebraska, in 1925. In 1947, while in a New York prison, he was introduced to the radical teachings of Elijah Muhammad and the Nation of Islam and soon espoused their views. In 1964, Malcolm X was suspended by the NOI for his outspokenness and soon split with them. Following a pilgrimage to Mecca, he accepted the Islamic name El-Hajj Malik El-Shabazz, and at the time of his death, had begun to develop more moderate, multicultural views. The originator of the Muslim faith was murdered, some say by the heir, and the history of this sect is full of violence. Malcolm X autobiography, with the help of author Alex Haley, is one of the most powerful written. Of the people I interviewed as a newsman, he was the most powerful, electric individual, I can remember. His aura was very similar to President John F. Kennedy, who you could feel had walked into the room before you actually saw. Malcolm X controlled every conversation.
http://www.triadntr.net/~rdavis/malcolm1.htm
http://www.amazon.com/exec/obidos/ASIN/0345350685/qid=1013901913/sr=2-1/
ref=sr_2_1/104-3054308-9513505
    1965 - No. 1 Billboard Pop Hit: ``This Diamond Ring,'' Gary Lewis and the Playboys. Lewis is the son of comedian Jerry Lewis.
    1966--The Beatles record "Nowhere Man."
    1968 – Baseball Players get $10,000 minimum salary. An agreement between baseball players and club owners increased major league players' minimum salary to $10,000 a year.
    1969 –“Portnoy’s Complaint”---Philip Roth’s novel was published by Random House.
http://www.drjohnholleman.com/fall/portnoy.html
    1969- Elvis Presley purchases a Kodak microfilm reader and begins microfilming over 4,000 personal items.
    1970-Simon & Garfunkel's album "Bridge Over Troubled Water" enters the U.K. chart at Number One and stays there for nearly forty weeks; it remains in the Top Ten for 126 weeks. The title track goes gold in five days.
    1970- AFL joins NFL: After a protracted battle over players, fans and television ratings, the American Football League, founded in 1960, became part of the National Football League. Teams from the AFL were joined by the Cleveland Browns, the Pittsburgh Steelers and the Baltimore Colts to become the American Football Conference. Remaining NFL teams became the National Football Conference. 1970- Jackson 5 make TV debut on "American Bandstand"
http://members.aol.com/mikeljaxn/jacksons/jfive.htm
http://www.rockhall.com/hof/inductee.asp?id=125
    1970-- The Jackson 5 make their television debut on ABC's American Bandstand.
    1971 - An outbreak of tornadoes hit northeastern Louisiana and northern and central Mississippi. The tornadoes claimed 121 lives, including 110 in Mississippi. Three tornadoes accounted for 118 of the deaths. There are 1600 persons injured, 900 homes were destroyed or badly damaged, and total damage was 19 million dollars.
    1972---Top Hits
Without You - Nilsson
Hurting Each Other - Carpenters
Never Been to Spain - Three Dog Night
It’s Four in the Morning - Faron Young
    1972 - The group, Climax, was awarded a gold record for their only hit, "Precious and Few". The Los Angeles, California-based group was led by Sonny Geraci, from the The Outsiders of "Time Won’t Let Me" fame.
    1972-Nixon goes to China: Who would have believed it? Richard Nixon became the first US president to visit any country not diplomatically recognized by the US when he went to the People's Republic of China for meetings with Chairman Mao Tse-tung and Premier Chou En-lai. Nixon arrived at Peking on this date, and departed China on Feb 28. The "Shanghai Communiqué" was issued Feb 27. He actually opened up a lot more trade and diplomatic relations with this country.
http://memory.loc.gov/ammem/today/feb21.html
    1972- Climax' "Precious and Few" is certified gold.
    1974- Kool and the Gang's "Jungle Boogie" is certified gold.
    1975 – Watergate: Three aides of United States ex-president Richard Nixon, former attorney general John Mitchell, former chief of staff H.R. Haldeman and domestic adviser John Ehrlichman, were each sentenced to 30 months’ imprisonment for obstructing the course of justice in the Watergate affair.
    1975- TV Show “Midnight Special:”Record company executive Clive Davis became the first non-performing host of the television show "Midnight Special." Featured acts were Barry Manilow and Melissa Manchester, both from Davis's Arista label.
    1975- "NBC Nightly News" ran a story on kung-fu dancing, a short-lived fad inspired by Carl Douglas's number-one record "Kung Fu Fighting." It is making a come-back among young Asian dancers.
http://www.go-winsome.com/articles/KungFuDancing.htm
http://www.amazon.com/exec/obidos/ASIN/0312063490/inktomi-bkasin-20/
102-1682336-8966565
Here you can get the “Kung Fu Dancing Hamster:”
http://cellphones-accessories.com/cell-accessories/karate.html
    1975 - No. 1 Billboard Pop Hit: ``Pick Up the Pieces,'' Average White Band.
    1979- The Dire Straits album is certified gold.
    1979- Rod Stewart's "Da Ya Think I'm Sexy?" is certified gold.
    1980---Top Hits
Do that to Me One More Time - The Captain & Tennille
Crazy Little Thing Called Love - Queen
Yes, I’m Ready - Teri DeSario with K.C.
Love Me Over Again - Don Williams
    1981 - REO Speedwagon’s "Hi Infidelity" was the #1 U.S. album. "Hi-Fidelity" spent a total of fifteen weeks at number one. The tracks: "Don’t Let Him Go", "Keep on Loving You", "Follow My Heart", "In Your Letter", "Take It on the Run", "Tough Guys", "Out of Season", "Shakin’ It Loose", "Someone Tonight", "I Wish You Were There".
    1981 - Dolly Parton reached the top spot on the pop music charts with "9 to 5", from the movie of the same name, in which Dolly starred with Lily Tomlin and Jane Fonda. The hit song stayed at #1 for a week, gave way to Eddie Rabbitt’s "I Love a Rainy Night" and popped back two weeks later for another week at number one. The era of independent women had started with quite an unlikely trio.
    1982 -"Ain't Misbehavin'" closes at Longacre Theater NYC after 1604 performances
    1982-Rock 'n' roll disc jockey Murray (the K) Kaufman, the self- proclaimed "fifth Beatle," died of cancer in Los Angeles. While we normally only mention birthdays, Murray the K was one of the most popular and influential deejays in New York City from 1958 to 1965 on WINS. In 1964, when the Beatles became famous and hit North America, Murray the K dubbed himself the "fifth Beatle" and tried to do as many interviews with the quartet as possible. He also played a small role in a fictitious film about the Beatles' arrival in New York, and was an adviser on "Beatlemania," a live show featuring Beatle look-alikes. Murray the K's last gig was as the host of a syndicated radio series featuring music of the '60s.
    1986- AIDS patient Ryan White returns to classes at Western Middle School
http://www.geocities.com/SoHo/Exhibit/8222/ryan.htm
http://www.amazon.com/exec/obidos/ASIN/0451173228/inktomi-bkasin-20/
102-1682336-8966565
    1986- Montreal-born folk singer and poet Leonard Cohen appeared in an episode of the TV series "Miami Vice." He has many dedicated fans, perhaps a cult following.
http://www.leonardcohen.com/
http://www.leonardcohenfiles.com/
http://www.leonardcohen.com/transcript.html
http://p.webring.com/hub?ring=lcring&list
http://cohenchords.sphosting.com/index.html
    1987 - Low pressure over central California produced gale force winds along the coast, and produced thunderstorms which pelted Stockton, Oakland and San Jose with small hail.
    1988 - Television evangelist Jimmy Swaggart announced tearfully in front of a crowd of 6,000, and while on national television, that he would relinquish the pulpit because of publicized photographs of him visiting a prostitute. Only a year earlier, Swaggart had denounced his rival evangelist Jim Bakker after a sex scandal had destroyed Bakker's PTL ministry. Swaggart was quoted, "I have sinned against you, and I beg your forgiveness." Swaggert claimed he did not engage in intercourse with the woman, but "paid her to perform pornographic acts". He then announced he would be leaving his ministry for an unspecified length of time. (Defrocked in April by the Assemblies of God, he was ordered to stay off TV for a year, but returned after only three months.)
    1988---Top Hits
Seasons Change - Expose
What Have I Done to Deserve This? - Pet Shop Boys & Dusty Springfield
Father Figure - George Michael
Twinkle, Twinkle Lucky Star - Merle Haggard
    1989 -Pete Rose meets with Commissioner Ueberroth to discuss his gambling.
    1989 - Thunderstorms developing during the morning hours spread severe weather across Georgia and the Carolinas. Strong thunderstorm winds caused one death and thirteen injuries in North Carolina, and another four injuries in South Carolina.
    1991 -Neil Simon's "Lost in Yonkers" premieres at Richard Rodgers Theater in New York NY for 780 performances
http://www.spacey.com/yonkers.htm
    1992- Kristi Yamaguchi of US wins Olympics gold medal in women's fig skating
http://rc.yahoo.com/promotions/kristi/
http://taychmem.angelcities.com/heinlein/kyam1/kyam1.html
http://www.polaris.net/~shanhew/
    1994-Russian Spies Arrested: Aldrich Hazen Ames and his wife Maria del Rosario Casas Ames were arrested on charges they had spied for the Soviet Union beginning in 1985 and had continued to spy for Russia after the Soviet collapse in 1991. Ames had worked as a counterintelligence officer for the CIA at its headquarters at Langley, VA. Prosecutors said that the pair had been paid about $2.5 million for their activities and were probably responsible for the deaths of at least 10 CIA agents whom Ames had identified for the Soviets. The government considered this to be one of the most serious spy cases ever uncovered in the US. On Apr 28 Aldrich Ames was sentenced to life in prison. Rosario Ames was sentenced to a 63-month prison term in return for her husband's promise to cooperate with authorities1995 - Former Chicago stockbroker and U.S. balloonist Steve Fossett made history. He was the first person to fly solo across the Pacific Ocean in a balloon, landing in Leader, Saskatchewan, Canada on this day.
    1995- Bruce Springsteen played with former members of his E-Street band for the first time since 1988. The brief reunion took place at a New York club, and was arranged to record a video for Springsteen's single "Murder, Incorporated." But he and his old band mates also ran through several favorites, such as "Prove It All Night," "Backstreets" and "Thunder Road."
    1995- Kenny Rogers proved the ultimate substitute at the Imperial Palace hotel and casino in Las Vegas. He filled in for impersonator Mark Hinds on "The Gambler" and "Ruby," then teamed with Dolly Parton impersonator Sandy Anderson on "Islands in the Stream." The audience wasn't told that the real Rogers was appearing.
    1996-Prodigy is sold again. There was Mosaic, which became AOL, CompuServe, one of the most popular for downloading software programs (if you knew the exact number—they did not use “names,” and Prodigy, perhaps the leader in the 1980’s for “consumers” to utilize. After purchasing the program in a joint venture with IBM in 1986, Sears decided to sell its stake in Prodigy. Perhaps this was the foretelling of the future for the dot.com industry. The ten- year-old service, a joint venture by Sears and IBM, had cost one billion dollars to develop but had never shown reliable profits. Sears had initially hoped the venture would foster online shopping. The key was the speed of the Wide World Web where most used dial-up connections at 32,000 baud, and ISDN was expensive, as users were charged per minute for each of the dual lines. The hope was for 52k to increase speed, but the various companies had been producing their own codes that often did not work with current dial-up companies. Sears was having its own financial problems as they had hoped the web as their catalogue in the 19th century would put them ahead of their competition. Later in the year, Prodigy's management would buy the company from Sears and IBM. It goes to show you being first is not all that it is cracked up to be, and of course, timing is everything.

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Winter Poem

Fresh Fallen Snow

by Ogden Nash

I like to walk on fresh fallen snow
The kind that whispers and speaks.
It sings a song as I walk along
With crackles and scrunches and squeaks.

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

http://leasingnews.org/Soduku/soduko-main.htm

[headlines]

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Daily Puzzle

How to play:
http://www.setgame.com/set/puzzle_frame.htm

Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm

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[headlines]