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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
   





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


Wednesday, January 30, 2013




Today's Equipment Leasing Headlines

Archives--Pictures from the Past 
 1997--Doug Erwin
  Classified Ads---Sales
Pacific Western Joins “Extra Lease Payment” Group
  The Matrix-Utah Connection
    by Christopher Menkin
Current License Regulations and Advice
 by Christopher Menkin
  OCC Defines Small Bank
   ---Leasing Company Banks listed
    Placard---On the Internet
     Fitch: U.S. High Yield Default Loss Rate
      Below 1% in 2012
       Cocker Spaniel--Female
        Huntington, New York Adopt-a-Dog
  Lease Conference Up-Date
   ---NEFA Early Bird ends tomorrow
    Classified ads—Back Office
News Briefs---  
 Caterpillar sets cautious tone for year after low profit
  HF Financial reports 44 percent increase in 2Q earnings
   Volvo on track to become largest heavy truck make
    Home prices increased at a six-year high late in 2012
     787 battery blew up in ’06 lab test, burned down building
      Report: Los Angeles wants Falcons

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!


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Archives: Pictures from the Past
1997--Doug Erwin


Doug Erwin has been the President and CEO of Seattle based Financial Pacific Company since 1986. Prior to his joining Financial Pacific, he was the President of State Mutual Savings Bank in Tacoma for 10 years. The native New Yorker and his wife Judy have three children--- Kelley, Patrick and Heather---and two grandchildren.





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Classified Ads---Sales


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

Central Valley, California
6 years sales, management, marketing, business development, budget planning, finance. Proven track record challenging and competitive situations. Expert: healthcare, banking, and entrepreneurship. dsp559@outlook.comResume
Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio tonylio@optonline.net
Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker. 334-590-5133
E-mail: billmcneal2003@yahoo.com

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

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

Texas/Oklahoma 
15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested.
E-mail: bankingdallas@yahoo.com
Remote
MBA, CLP, 20 yrs. experience, highly energy. Ethics, high volume producer Work from remote sales location, for national, independent Lessor/broker
Commission only preferred. E-mail: stefitony@yahoo.com


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

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

 

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Pacific Western Joins “Extra Lease Payment” Group


Pacific Western Equipment Finance (a division of Pacific Western Bank, Cottonwood Heights, Utah, to be added to the list of "Companies who utilize Evergreen Clauses for Extra Lease Payments . (1)" These companies use language in their purchase options to confuse, perhaps to deceive, with the result an automatic continuation for an additional twelve months of payments.

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

Dorran Sampson, then Vice-President/Broker Relations, Marquette Equipment Finance, now Vice President Broker Relations Pacific Western Equipment Finance told Leasing News when the company was bought and became Pacific Western Equipment Finance (a division of Pacific Western Bank) they maintained the same position as Marquette.

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

I asked him if he could send to a broker wanting to do business with him, "Sorry, can’t forward to you or your brokerage." (2)

Leasing News has obtained a copy of a Pacific Western Equipment Finance agreement, and confirms the same procedures as their

former company Marquette utilized:

“14. LESSEE’S OPTIONS AT END OF INITIAL PERIOD.

At the end of the Initial Period of any Lease, Lessee shall, provided at least one-hundred-eighty (180) days prior written notice is received by Lessor from Lessee via certified mail, do one of the following: (1) purchase the Property for a price to be determined by Lessor and Lessee, (2) extend the Lease for twelve (12) additional months at the rate specified on the respective Schedule, or (3) return the Property to Lessor at Lessee’s expense to a destination within the continental United States specified by Lessor and terminate the Schedule; provided, however, that for option (3) to apply, all accrued but unpaid late charges, interest, taxes, penalties, and any and all other sums due and owing under the Schedule must first be paid in full, the provisions of Sections 6(c) and (d) and 7(c) hereof must be specifically complied with, and Lessee must enter into a new Schedule with Lessor to lease Property which replaces the Property listed on the old Schedule. With respect to options (1) and (3), each party shall have the right in its absolute and sole discretion to accept or reject any terms of purchase or of any new Schedule, as applicable. IN THE EVENT LESSOR AND LESSEE HAVE NOT AGREED TO EITHER OPTION (1) OR (3) BY THE END OF THE INITIAL PERIOD OR IF LESSEE FAILS TO GIVE WRITTEN NOTICE OF ITS OPTION VIA CERTIFIED MAIL AT LEAST ONE-HUNDRED-EIGHTY (180) DAYS PRIOR TO THE TERMINATION OF THE INITIAL PERIOD, THEN OPTION (2) SHALL APPLY AT THE END OF THE INITIAL PERIOD. At the end of the extension period provided for in option (2) above, the Lease shall continue in effect at the rate specified in the respective Schedule for successive periods of six (6) months each subject to termination at the end of any such successive six (6) month renewal period by either Lessor or Lessee giving to the other party at least thirty (30) days prior written notice of termination”

(3)

According to Deseret News, many of the people came from Matrix Leasing, and the founder of Matrix David DiCCesari's "For four years...was also a salesman with the now-notorious company Amplicon in California. A 1998 Wall Street Journal article said Amplicon pioneered PRR-type leases---and faced more than 100 lawsuits in eight years by firms claiming they had been tricked into singing misleading contracts."


  1. Companies who utilize Evergreen Clauses for Extra Lease Paymentshttp://www.leasingnews.org/Pages/lease_expiration_evergreen.htm

  2. Dorran Sampson and Evergreen clause

  3. Pacific Western Equipment Finance Agreement

 


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The Matrix-Utah Connection
by Christopher Menkin


It is more than a coincidence that 7 out of 11 who abuse the Evergreen clause as well as utilize PPR lease clauses are Utah based companies.

According to Deseret News, many of the people came from Matrix Leasing, and the founder of Matrix David Dice sari’s "For four years...was also a salesman with the now-notorious company Amplicon in California. A 1998 Wall Street Journal article said Amplicon pioneered PRR-type leases (“Purchase, Renewal or Return Clause.)” ---and faced more than 100 lawsuits in eight years by firms claiming they had been tricked into singing misleading contracts." (1)

“Section 20

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

  1. Deseret News on Matrixhttp://leasingnews.org/PDF/DeseretNewsarticle.pdf

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


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

 

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Loan/Lease Regulations --- Update



While there is a conception that equipment leasing is not licensed, it is not quite true. Most states have license requirements, and all have issues on usury, requiring a sales/use tax permit, corporation filing to do business in a state, as well as many states have personal property license requirements from the owner of the equipment.

It is true that there are no state or national associations that regulate the industry as banks and other financial institutions or accountants, attorneys, realtors, to name a few. The closest may be the Certified Leasing Professional Foundation where they are 200 individuals that have passed a test, an annual test, and abide by a set of rules and regulations.

In most states, banks are not required to have a leasing license as well as manufacturers. Banks are generally exempt because they are regulated by the FDIC.

The common thread among licensing statutes is that if the entity which should otherwise have a license, is licensed by another government agency (real estate brokers is one example), then no license is required.

An expert on this who has won cases against company’s not licensed in California, notably CMC Commercial Credit, Tom McCurnin, Barton, Klugman & Oetting, Los Angeles, California told Leasing News: “A property owner can sell his property on credit without a license or without usury issues.  Its called the Time Price Doctrine or Time Price Differential.

“CIT on the other hand doesn't own the stuff and is therefore making a loan and is required to have a license. 

“A gray area might be for the leasing company to buy the stuff and have it shipped to them, and they, in turn re-ships to the customer.  May not be required to have a license.  Simple invoices and drop shipping probably would not pass muster.”

Captive Lessors are required to have a license, and all those that I checked do, such as Dell, who also sells other products than the ones they manufacture.


And while there are financial institutions that also have a bank, such as CIT, they hold a license.

In California, those engaged in true leases, such as Mar Vista, address, do not need to be licensed, but everyone who is involved in “capital leases” with a bargain purchase option, particularly a dollar, are required to be licensed. Without it, they may not accept a commission, engage with a licensed financial institution, and may find their leases in court dismissed for lack of a license. While the fines are not very much, the clout comes in immediate suspension from doing business in California, and while a hearing may be required or filed by an attorney, they may not engage in business during this time.

“NO BROKERAGE COMMISSIONS TO UNLICENSED BROKERS. California Administrative Code Title 10 §1451.”

Commissions may not be paid to unlicensed brokers. There are companies who use other companies’ documents and therefore believe they do not need to be licensed. This may be accurate in dealing with a bank, but not with another licensed financial institution or financial institution out of state that is not licensed in California.

If you are registered by license as a broker, lender, lessor in states that require it, you do not need a city business license (in most states). Cities that require a business license, also require a business license if you work out of your residence. Many cities now are using Schedule C from tax returns, such as in San Jose, California, to catch those without a city license, and they will go back several years as well as a fine, so best to get a license now in case they check your city.

While not all states require a lender's license, many require a license to accept a deposit or advance rental. And remember, a capital lease may be considered a loan as it is with the IRS in many states. If the state requires a license, and your company is not licensed, the transaction may be subject to usury laws.

46 states do not require the lessor to notify the lessee regarding the end of the original term of the lease and can invoke an Evergreen clause, except in these states that do require notification and if not, can void the residual as well as bring on a fine or worse, depending on the number of such transactions and complaints received.

States who require notification:
New York
Rhode Island
Texas
Wisconsin
Illinois
(In Illinois, Consumer law, but may affect commercial, especially a proprietorship, partnership or personal guarantee)

--Christopher Menkin


---Current Regulations
(Any up-dates or additions, please send
to kitmenkin@leasingnews.org)

Arizona: All "advance fee loan brokers" must register annually with the state. Includes "commitment fees." Stiff penalty and on line form for a complaint for the state to investigate. Arizona Revised Statutes, sec. 06-1303-1310 (1996)
Registration process: http://www.azdfi.gov/Licensing/Licensing-FinServ/ALB/ALB.html

Arkansas: All brokers of "a loan of money, a credit card or a line of credit" may not assess or collect an advance fee. In addition, all brokers must register with the Securities Commissioner, post a surety bond of $25.000 and have a net worth of $25,000.
Arkansas Code Annotate sec. 23-39-401 (1995)

California: New Law into effect requires all those doing commercial loans
and capital leases to obtain a California Lender's License (Banks
may be an exception).
http://www.leasingnews.org/Conscious-Top%20Stories/sb197.htm

Florida: Brokers of a "loan of money, a credit card, line of credit or related guarantee, enhancement or collateral of any nature" may not assess or collect an advance fee. 
Florida Statues, Chapter 687.14 (1992)

Georgia: A broker of "loans of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee unless such fee is for "actual services necessary to apply for the loan." Official Code of Georgia Annotated, sec. 7- 7-1 (1992)

Idaho: No fee may be collected unless a loan is actually made. 
Idaho Code, sec. 26-2501 (1992) Illinois: Code, 815 ILCS 175/15-5.03 Under the Act, a" loan broker" means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a) 
Specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to "the" person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate. "In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or evoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorney’s fees." This appears as standard language on most states.

Idaho: No fee may be collected unless a loan is actually made. 
Idaho Code, sec. 26-2501 (1992)

Illinois: Code, 815 ILCS 175/15-5.03 Under the Act, a" loan broker" means any person who, in return for a fee from any person, promises to procure a loan for any person or assist any person in procuring a loan from any third party, or who promises to consider whether or not to make a loan to any person. 815ILCS 175/15-5- 15(a) specifically excluded from the application of the Act, however, are (1) any bank …regulated by any service loans for the Federal National Mortgage Association… (3) any insurance producer or company authorized to do business in [Illinois], (4) any person arranging financing for the sale of the person's product, (note that this exception does not apply to any person selling someone else's product and only applies to "the" person's product, implying the exception is for the owner of the product arranging for financing), (5) any person authorized to conduct business under the Residential Mortgage License Act of 1987 and (6) any person authorized to do business in [Illinois] and regulated by the Department of Financial Institutions or the Office of Banks and Real Estate. "In the event that the Act is violated by the broker, the Secretary of State is empowered by the statute to make investigations and examinations, suspend or revoke the broker's approval, subpoena witnesses, compel the production of books and records, order depositions and obtain temporary restraining orders and injunctions against the broker. In the vent that a violate is found, the Secretary of State may impose a fine in the amount of $10,000 for each violation and the broker shall be liable to any person damaged in the amount of tactual damages plus attorneys’ fees." This appears as standard language on most states.

Iowa: A broker of loans of "money or property" may not assess or collect an advance fee except for a "bona fide third-party fee" and a broker must obtain a bond or establish a trust account and file required documents with the Commissioner or Insurance.
Iowa Code, sec. 535C (19920)

Kansas : Broker is not exempt. Discounter or Lessor is exempt: " 'Creditor' means any person to whom a loan is initially payable on the face of the note or contract evidencing the loan" is exempt. Anyone who earns a fee or accept a deposit, except a bank, financial institution, discounter or lessor, must be registered.
http://www.securities.state.ks.us/rules/loan.rtf

Kentucky: Brokers of "a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee. 
Kentucky Revised Statutes Annotated, sec. 367.380 (1992)

Louisiana: A broker of loans of "money or property…whether such agreement is styled as a loan, a lease or otherwise" must obtain a surety bond or establish a trust account in the amount of $25,000. A broker may not collect an advance fee but may collect an "advance expense deposit for commercial loans" only for actual expenses incurred in obtaining the loan. Louisiana Revised Statutes Annotated, sec. 9:3574 (1993); Louisiana Revised Statutes Annotated, Sec. 51:1910 (1992)

Maine: No license required: "the regulation of commercial loan brokers does not fall under the jurisdiction of the Maine Bureau of Consumer Credit Protection. Transactions involving two businesses are legal/contractual in nature. Therefore, disputes involving a commercial loan between a business and commercial loan provider or broker must be settled in the court system."
http://www.maine.gov/pfr/consumercredit/faqs/loan_broker_faq.htm#j

Mississippi: A broker or loans of money may not assess or collect an advance fee and can be fined up to $5,000 for each violation. Mississippi Code Annotated, sec. 81-19-17 (1997)

Missouri: A broker of loans of "money or property" may not assess or collect an advance fee. Missouri Revised Statues, sec. 367 300 (19920

Nebraska: A broker of loans of money may not assess or collect an advance fee. Nebraska Revised Statutes, sec. 45-189 (1993)

New Jersey: Brokers of "loans of money" may not assess or collect an advance fee. 
New Jersey Rev. Statutes, sec. 17:10B (1992)

New Mexico: New Mexico currently requires Brokers/Lessors to register for Licensing under the NM Mortgage loan Company or Loan Broker Act with the Financial Institutions Division of the State of New Mexico. Banks with Brick and Mortar within the State of New Mexico are exempt. Prior to licensing applicants must submit the Following: 
Articles of Incorporation 
Listing of all principals (including management) 
A full financial Package (to meet their minimum requirements of liquidity) 
Personal financial statements on all principals 
Disclosure of all current or past suits (civil or criminal) 
Attach a corporate surety bond 
Include a $400.00 registration fee renewable yearly

North Carolina: A broker of "loans of money or property…whether such agreement is styled as a loan, a lease or otherwise" must obtain a surety bond or establish a trust account in the amount of $25,000 and obtain a license. North Carolina General Statutes, sec. 66-106 (1992)

North Dakota: Brokers may not accept an advance fee unless the broker is licensed. North Dakota Century Code, 13-04. 1-09.1 (1993) Ohio: Department of Commerce, Division of Financial Institutions

(Certificate to engage in the business of a credit services organization in accordance with the provisions of Sections 4712.01 to 4712.14 of the revised code of Ohio, subject to all the provisions thereof and to the regulations of the division.) Ohio Department of Taxation requires a "Vendor's License" under provision 5739.17 of the Revised Code (...is hereby authorized to sell tangible personal property and selected services at the retail location specified below.) This also makes the lessor responsible for all taxes with penalties for not doing so.

South Carolina: A broker of "a loan of money, a credit card, a line of credit or related guarantee, enhancement or collateral of any kind or nature" may not assess or collect an advance fee. South Carolina Code Annotated, sec. 34-36-10 91992)

South Dakota: Money Lending License
Required for individuals or corporations to engage in the business of lending money, including creating and holding or purchasing and acquiring any installment loan ("Capital Lease" or EFA), single pay loan, or open-end loan which may be unsecured or secured by personal property. Requires filing a surety bond application. State and national banks, bank holding companies, other federally insured financial institutions, and the subsidiaries of those institutions are exempt from licensure. In addition, SD chartered trust companies are exempt from licensure. Any individual or corporation holding this license is required to pay the bank franchise tax.
Duration: 1 year
Cost: Application $600

Vermont: Commercial Loans
Commercial loan license would apply to EFA and "Capital Leases." Exemptions include transactions over $1 million, and brokers who do not engage in transactions more than $50,000 in one year at rates not exceeding 12 percent per annum.


Bookmark us


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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.

 

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OCC Defines Small Bank
Leasing Company Banks listed


Beginning January 1, 2013, a national bank or savings association that, as of December 31 of either of the prior two calendar years, had assets of less than $1.186 billion is a “small bank” or “small savings association.” A small bank or small savings association with assets of at least $296 million as of December 31 of both of the prior two calendar years, and less than $1.186 billion as of December 31 of either of the prior two calendar years, is an “intermediate small bank” or “intermediate small savings association.” For further information about how these revised asset-size thresholds are applied, see the CRA page on the Federal Financial Institutions Examination Council’s

A small bank or small savings association with assets of at least $296 million as of December 31 of both of the prior two calendar years, and less than $1.186 billion as of December 31 of either of the prior two calendar years, is an “intermediate small bank”

This group of bank leasing companies comes from
Leasing News Funder "A" list:
(http://www.leasingnews.org/Funders_Only/Funders.htm):

(Less than $1.186 billion in assets is a “small bank”)

(In millions, September 30, 2012 FDIC)

1st Enterprise Bank, Los Angeles, California
$661,829

Allegheny Valley Bank Leasing, Pittsburgh, Pennsylvania
$406,310

Bank Financial, Olympia Fields, Illinois
$1,499,374

Bank of Ozarks Leasing, Little Rock, Arkansas
$3,812,154

West Star Bank, El Paso, Texas
$1,082,410

Cashmere Valley Bank, Cashmere, Washington
$1,216,292

Continental Bank, Salt Lake City, Utah
$106,887

First Bank of Highland Park, Highland Park, Illinois
$1,091,150

First Federal Leasing, First Bank Richmond, Richmond, Indiana
$530,150

Home Savings Bank, Salt Lake City, Utah
$107,467

Leasing News will publish this list again. To join the list, please complete this form (note, the last part of the form does not need to be completed by banks:)
http://www.leasingnews.org/Pages/Funder_List_Form.doc


Mr. Terry Winders available as a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry.

He is the 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.

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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Fitch: U.S. High Yield Default Loss Rate
Below 1% in 2012


For the third consecutive year, the U.S. high yield default rate remained well below average, ending 2012 at 1.9% and up just modestly from 1.5% in 2011. The average recovery rate on the year’s defaults was 50.2% and the median recovery, 38.9%. Both measures slipped from 2011’s more robust 59.4% average and 47.9% median.

The market’s default loss rate was 0.9% in 2012. The paper and containers and utility sectors experienced the highest industry specific default loss rates of 5.3% and 4.9%, respectively.

Fitch Ratings finds that 44 of the 65 companies that completed DDEs from 2008 – 2012 have not had a subsequent event of default. The weighted average recovery rate on 2012 DDEs was 69.1% of par versus 46.5% excluding DDEs (bankruptcy / missed payments).

The long term average annual default rate through 2012 now stands at 4.6%. This average has fluctuated over 10 year investment horizons from 3.1% (1990 – 1999) to 6.7% (1994 – 2003).

The average recovery rate over the period 2000 - 2012 is 36.5% and the median rate 25%. Details by seniority and industry are available in Fitch Ratings' new report.

View full report:
http://www.leasingnews.org/PDF/Fitch_1302013.pdf



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

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Cocker Spaniel--Female
Huntington, New York Adopt-a-Dog


MASERATI

Cocker Spaniel
Female
Young
Medium

Maserati, named and built for speed. This 1.5 year old cocker spaniel is a delight to be around. She has looks, poise and love that never stops. She loves shopping at Saks Fifth Avenue, and all the local hot spots. Come adopt her!."

www.littleshelter.com
Monday-Friday 1-7pm
Saturday-Sunday 12-5pm
33 Warner Road
Huntington, NY 11743

How to Adopt:
http://www.littleshelter.com/dogs/how-to-adopt

On Line Application:
http://www.littleshelter.com/dogs/application

 

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/


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Leasing Association 2013 Conferences




March 14, 2013
2013 National Equipment Finance Summit
Hyatt Regency Albuquerque

Super Saver Expires 1/31/2013

Registration:
https://m360.nefassociation.org/calendar.aspx

Pricing:


Hot-Air Balloon Ride
http://www.nefassociation.org/displaycommon.cfm?an=1&subarticlenbr=258

Full Schedule:
https://m360.nefassociation.org/frontend/event/schedule.aspx

 




Conference Agenda:
http://www.imn.org/Conference/Investors-Conference-EquipmentFinance/Agenda.html

Register:
http://www.imn.org/Conference/Investors-Conference-Equipment-Finance/Register.html



 

April 9-11, 2013
25th Annual National Funding Conference
Fairmont, Hotel, Chicago

For More Information:
http://www.elfaonline.org/events/2013/nfc/


 


April 18-20, 2013
Annual Conference
Las Vegas, Nevada

Golf and Gambling

Schedule of Events
Schedule PDF

Registration (includes registration fees)

Hotel Reservation

 


 

September, 2013
Sep 12, 2012
2013 Funding Symposium

 




September 27-28, 2013
2013 NAELB Western Regional
Irvine, California



October 20-22
ELFA 52nd Annual Convention
JW Marriott Grand Lakes-Orlando, Florida




November 1-2, 2013
2013 Eastern Regional
Nashville, Tennessee

 

Bookmark us

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News Briefs----

 

Caterpillar sets cautious tone for year after low profit
http://articles.chicagotribune.com/2013-01-28/business/sns-rt-us-caterpillar-resultsbre90r0h7-20130128_1_chief-executive-doug-oberhelman-caterpillar-profit-forecast

HF Financial reports 44 percent increase in 2Q earnings
http://www.argusleader.com/article/20130129/BJUPDATES/130129004/HF-Financial-reports-44-percent-increase-2Q-earnings

Volvo on track to become largest heavy truck maker
http://www.constructionweekonline.com/article-20614-volvo-on-track-to-become-largest-heavy-truck-maker/#.UQiLWr_oQuc

Home prices increased at a six-year high late in 2012, S.F. had second highest growth
http://www.contracostatimes.com/business/ci_22472420/home-prices-increased-at-six-year-high-late

787 battery blew up in ’06 lab test, burned down building
http://seattletimes.com/html/businesstechnology/

Report: Los Angeles wants Falcons
http://www.myfoxatlanta.com/story/20756873/falcons-owner-la-wants-team

 


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---You May Have Missed

How Harley-Davidson explains the U.S. economy
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/01/29/how-harley-davidson-explains-the-u-s-economy/




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SparkPeople--Live Healthier and Longer


SparkPeople--Live Healthier and Longer

10 Treats Under 100 Calories: SparkPeople Slideshow
http://www.sparkpeople.com/resource/slideshow.asp?show=6



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Sports Briefs----


Ray Lewis doesn’t wish to discuss deer-antler spray or double murders at media day
http://sports.yahoo.com/blogs/nfl-shutdown-corner/ray-lewis-doesn-t-wish-discuss-deer-antler-192122775--nfl.html

Yankees eye voiding A-Rod's contract
http://espn.go.com/new-york/mlb/story/_/id/8894904/new-york-yankees-attempting-void-alex-rodriguez-contract-according-sources

49ers owe it to Alex Smith to set him free after Super Bowl
http://overtime. blogs.pressdemocrat.com/10455/49ers-owe-it-to-alex-smith-to-set-him-free-after-super-bowl/


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)

 

 

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American Football Poem

SuperBowl in New Orleans


Look at that
football fly.
I have never seen so many
eyes.

Glued to pig
skin.
We watch
and we all want to win.

Did he just
fumble?
Some curse loudly
and some just mumble.

Some fans are
humble.
Some want to
rumble.

Oh Lord,
too much beer.
Some of that shouting
is more than just a cheer.

Never mind
and for shame.
Just watch and enjoy
the game.

There is always
next year.
Now, sober up.
You hear?


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California Nuts Briefs---




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“Gimme that Wine”

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

J. Lohr Vineyards & Wines Names Rhonda Motil Senior Marketing Director (he's my next door neighbor, have to do this one)
http://www.winebusiness.com/people/?go=getPeopleArticle&dataid=110977

B.C. winery recognized for best white wine in Canada
http://www.globaltvbc.com/bc+winery+recognized

Consumer Wine Trends: Americans Drinking More, "Better" Wines
http://www.winebusiness.com/news/?go=getArticle&dataid=110521


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


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This Day in History

    1749- Thomas Isaiah birthday, American printer, editor, almanac publisher, historian and founder of the American Antiquarian Society. Born at Boston, MA; died Apr 4, 1831, at Worcester, MA.
    1781- Maryland becomes the 13th original state to begin a union.
    1798- The first brawl to break out on the floor of the US House of Representatives occurred at Philadelphia, Pennsylvania this day in 1798. The fight was precipitated by an argument between Matthew Lyon of Vermont and Roger Griswold of Connecticut. Lyon spat in Griswold's face. Although a resolution to expel Lyon was introduced, the measure failed and Lyon maintained his seat.
    1815- President James Madison approved an act of Congress appropriating $23,950 to purchase Thomas Jefferson's library of 6,487 volumes. The British had destroyed the 3,000 book collection of the Library of Congress when they burned Washington, D.C. in 1814.
http://memory.loc.gov/ammem/today/jan30.html
    1835 -- President Andrew Jackson was attacked in the first attempt on the life of a U.S. President. President Andrew Jackson attended a congressional funeral in the Capitol building. As he exited, Richard Lawrence, an unemployed house painter, pointed a pistol at Jackson and fired. The percussion cap exploded, but the bullet did not discharge. The enraged Jackson raised his cane to throttle his attacker, who fired again. The second weapon also misfired and the sixty-seven-year-old president escaped unharmed, but angry as hell, and chased the would be killer with his cane until others captured him. The deranged Lawrence believed Jackson had conspired to keep him poor and out of work. Jackson was convinced that Lawrence was hired by his political enemies, the Whigs, to stop his plan to destroy the Bank of the United States. Lawrence spent the rest of his life in jails and asylums. Here is a bit of trivia for fans, in the trial that followed at the first attempted assassination of a US president, the prosecuting attorney was Francis Scott Key. (Some interested other trivia, Jackson was the only president to pay off the National Debt. He is also the only president to have been a prisoner of war, and is the only president to have fought in the Revolutionary War and the War of 1812.
http://www.geocities.com/presfacts/jackson.html )
    1844 -- Richard Theodore Greener becomes the first African American to graduate from Harvard University. 
    1847- Yerba Buena renamed Town of San Francisco by order of Alcalde Bartlett. The order was published in the "California Star", the first newspaper in San Francisco, later known as The Alta Californian, was published by Samuel Brannan with Elbert P. Jones as editor.
    1858-Birthday of William Wells Brown, African-American novelist and dramatist, publishes first Black drama, “Leap to Freedom.”
http://vi.uh.edu/pages/mintz/28.htm
http://archive.ncsa.uiuc.edu/Cyberia/RiverWeb/History/brown.html
http://www.spartacus.schoolnet.co.uk/USASbrownW.htm
http://docsouth.unc.edu/brownw/about.html
    1862- US Navy's first ironclad warship (Monitor) launched at Greenpoint Brooklyn, New York into the East River.
http://www.navalships.org/ussmonitor.html
http://www.mariner.org/monitor/04_revunion/des_monitor.html
http://havenworks.com/military/uss-monitor/
http://www.civilwarhome.com/monitor.htm
http://members.aol.com/wfmarabknt/ironclads.html
    1866 -- Gelett Burgess born Boston, Massachusetts, the author of the whimsical quatrain:
I never saw a purple cow,
I never hope to see one;
But I can tell you, anyhow,
I'd rather see than be one.
In 1897, he began to publish self-illustrated whimsical writings, the best known being, Goops & How to Be Them. He coin the word “Blurb” and was a iconoclast poet and cartoonist.
http://www.toonopedia.com/burgess.htm
    1867- The American branch of the Evangelical Alliance was organized at the Bible House in New York City, with William E. Dodge elected president.
    1882- Franklin Delano Roosevelt birthday, 32nd president of the US (Mar 4, 1933-Apr 12, 1945). The only president to serve more than two terms, FDR was elected four times. He is credited with bringing the country out of depression and was an extremely popular president. He supported the Allies in WWII before the US entered the struggle by supplying them with war materials through the Lend-Lease Act; he became deeply involved in broad decision making after the Japanese attack on Pearl Harbor Dec 7, 1941. Born at Hyde Park, NY, he died a few months into his fourth term at Warm Springs.
    1900 -- William Goebel shot, one day before being sworn in as Governor of Kentucky.
In 1895, he killed a factional rival, John Stanford, in a political quarrel; never tried. While contesting the outcome of a gubernatorial election, was shot and mortally wounded in front of the old KentuckyState Capitol ; he was declared elected and sworn in as Governor before he died four days later, in Frankfort, Franklin County , Ky., February 3 1900 , after serving three days of his term. Born inSullivan County , Pa., January 4 1856 . Lawyer; member of Kentucky state senate ; statue at Old State Capitol Grounds , Frankfort, Ky.
http://www.louisville.edu/library/ekstrom/govpubs/states/kentucky/kygovernors/goebel.html
http://unusualkentucky.com/goebel.html
http://www.amazon.com/exec/obidos/ASIN/0813102405/inktomi-bkasin-20/
002-1241397-9042458

1911 Roy Eldridge Birthday ( “Have you ever been uptown, Roy? )
http://trumpetjazz.com/dbman/db.cgi?db=default&uid=default&Name=Roy+Eldridge&Birth=
&Death=&Images=&Info=&Links=&keyword=&mh=1&sb=---&so=ascend&view_records=
View+Records

http://www.harlem.org/people/eldridge.html
    1912- Barbara W. Tuchman birthday Historian and journalist Barbara Tuchman's most famous works were her Pulitzer Prize-winning books The Guns of August (1962) and Stilwell and the American Experience in China, 1911-45 (1971). Tuchman was known for making history live, never dry. Other well-known books included The Proud Tower (1966) and The First Salute (1988). Barbara Wertheim Tuchman was born at New York, NY, and died at Greenwich, CT, Feb 6, 198, GA, Apr 12, 1945.
    1917- Original Dixieland Jazz Band makes first records, NYC, “Darktown Strutter's Ball,” Indiana ( Col A-2291) Some historians consider this to be the earliest commercially made jazz record. "Darktown Strutter's Ball" was written by Shelton Brooks, who was born in 1886 in Amherstburg, Ontario. The song was inspired by a ball at the 1915 Pacific-Panama Exposition in San Francisco.  
    1928-Birthday of Ruth Brown, the most-recorded female rhythm-and-blues singer of the 1950's, born in Portsmouth, Virginia. Her total of 87 songs for the Atlantic label between 1949 and 1962 surpassed the number of songs recorded by such other Atlantic artists as Ray Charles and the Drifters. Brown's first record to top the r-and-b charts was "Teardrops From My Eyes," in 1950.
    1928-Birthday of vibe player Buddy Montgomery, Indianapolis, IN
http://www.jazzcorner.com/montgomery/
http://www.jazzcanadiana.on.ca/_Montgom.HTM
    1930- Edmund “Sandy” Amoros, baseball player born at Havana, Cuba. Amoros made a sensational catch in Game 7 of the 1955 World Series for the Brooklyn Dodgers against the New York Yankees, helping Brooklyn to win its only World Series. I was there and remember how important this was at the time. The Dodgers moved to Los Angeles and were never the same as the Brooklyn team that finally beat the Damn Yankees ( name of a Broadway show, so can use it. editor ) Amoros died at Miami, FL, June 27, 1992 and is today an unforgotten man ( except for here J ) Brooklyn Dodgers (1952-57), Los Angeles Dodgers (1959-69), Detroit Tigers (1960) 517 Games, 1311 AB, 215 Runs, 334 Hits, 43 HR, 180 RBI, .255 Brooklyn Dodgers (1952-57), Los Angeles Dodgers (1959-69), Detroit Tigers (1960) 517 Spiele, 1311 AB, 215 Runs, 334 Hits, 43 HR, 180 RBI, .255
http://www.sportslegendsphotosinc.com/proddetail.php?prod=SandyAmorosBW
    1931 -- Charlie Chaplin's film "City Lights" premiers at Los Angeles Theater.
http://www.filmsite.org/city.html
    1931- The United States awards civil government to the Virgin Islands. 
    1933 - The Lone Ranger, with George Seaton as the Ranger and John Todd as Tonto, debuted on radio on this date. It became a national favorite.
    1934-Birthday of Tammy Grimes, actor, singer, comedian. Won the 1961 Tony for her title portrayal in The Unsinkable Molly Brown. 
    1935 -- Poet and fascist-sympathizer Ezra Pound meets Beloved and Respected Comrade Leader Mussolini, reads aloud several lines from a draft of the Cantos , which he gives to him as a present. Ezra Loomis Pound was born in Hailey, Idaho in 1885. In 1924 he moved to Italy and became involved in Fascist politics, and did not return to the United States until 1945, when he was arrested for broadcasting fascist propaganda via radio to the United States during WWII, on charges of treason. In 1946, he was acquitted, deemed unfit for trial, and declared insane. He was committed to St. Elizabeth's Hospital in Washington, D.C. After many letters and appeals from friends and writers, including Robert Frost , Ezra won his release from the hospital in 1958. He soon returned to Venice, where he died, a recluse, in 1972. Despite his politics and “craziness,” he is considered one of American's most brilliant and well-read poets.
http://www.internal.org/list_poems.phtml?authorID=1 
http://www.lit.kobe-u.ac.jp/%7Ehishika/pound.htm
http://www.english.uiuc.edu/maps/poets/m_r/pound/pound.htm
http://www.jargonbooks.com/ep.html
http://www.historyguide.org/europe/lecture9.html
    1943-Birthday of Marty Balin, vocalist with both the Jefferson Airplane and its successor, Jefferson Starship, born in Cincinnati. Balin was the originator, with Paul Kantner, of the Airplane, the group which epitomized the psychedelic culture of the late-1960's. Balin left the Airplane in 1971, but joined the Starship for three hit albums, beginning in 1975. Marty Balin departed the Starship in 1978, and in 1981 had a hit single, "Hearts."
    1944-Birthday of Sharon Pratt Kelly, first woman mayor of the District of Columbia (1991).
    1944--DROWLEY, JESSE R. Medal of Honor
Rank and organization: Staff Sergeant, U.S. Army, Americal Infantry Division. Place and date: Bougainville, Solomon Islands, 30 January 1944. Entered service at: Spokane, Wash. Birth: St. Charles, Mich. G.O. No.: 73, 6 September 1944. Citation: For gallantry and intrepidity at the risk of his life above and beyond the call of duty in action with the enemy at Bougainville, Solomon Islands, 30 January 1944. S/Sgt. Drowley, a squad leader in a platoon whose mission during an attack was to remain under cover while holding the perimeter defense and acting as a reserve for assaulting echelon, saw 3 members of the assault company fall badly wounded. When intense hostile fire prevented aid from reaching the casualties, he fearlessly rushed forward to carry the wounded to cover. After rescuing 2 men, S/Sgt. Drowley discovered an enemy pillbox undetected by assaulting tanks that was inflicting heavy casualties upon the attacking force and was a chief obstacle to the success of the advance. Delegating the rescue of the third man to an assistant, he ran across open terrain to 1 of the tanks. Signaling to the crew, he climbed to the turret, exchanged his weapon for a submachine gun and voluntarily rode the deck of the tank directing it toward the pillbox by tracer fire. The tank, under constant heavy enemy fire, continued to within 20 feet of the pillbox where S/Sgt. Drowley received a severe bullet wound in the chest. Refusing to return for medical treatment, he remained on the tank and continued to direct its progress until the enemy box was definitely located by the crew. At this point he again was wounded by small arms fire, losing his left eye and falling to the ground. He remained alongside the tank until the pillbox had been completely demolished and another directly behind the first destroyed. S/Sgt. Drowley, his voluntary mission successfully accomplished, returned alone for medical treatment.
    1944--HAWKS, LLOYD C. Medal of Honor
Rank and organization: Private First Class, U.S. Army, Medical Detachment, 30th Infantry, 3d Infantry Division. Place and date: Near Carano, Italy, 30 January 1944. Entered service at: Park Rapids, Minn. Born: 13 January 1911, Becker, Minn. G.O. No.: 5, 15 January 1945. Citation: For gallantry and intrepidity at risk of life above and beyond the call of duty. On 30 January 1944, at 3 p.m., near Carano, Italy, Pfc. Hawks braved an enemy counterattack in order to rescue 2 wounded men who, unable to move, were Iying in an exposed position within 30 yards of the enemy. Two riflemen, attempting the rescue, had been forced to return to their fighting holes by extremely severe enemy machinegun fire, after crawling only 10 yards toward the casualties. An aid man, whom the enemy could plainly identify as such, had been critically wounded in a similar attempt. Pfc. Hawks, nevertheless, crawled 50 yards through a veritable hail of machinegun bullets and flying mortar fragments to a small ditch, administered first aid to his fellow aid man who had sought cover therein, and continued toward the 2 wounded men 50 yards distant. An enemy machinegun bullet penetrated his helmet, knocking it from his head, momentarily stunning him. Thirteen bullets passed through his helmet as it lay on the ground within 6 inches of his body. Pfc. Hawks, crawled to the casualties, administered first aid to the more seriously wounded man and dragged him to a covered position 25 yards distant. Despite continuous automatic fire from positions only 30 yards away and shells which exploded within 25 yards, Pfc. Hawks returned to the second man and administered first aid to him. As he raised himself to obtain bandages from his medical kit his right hip was shattered by a burst of machinegun fire and a second burst splintered his left forearm. Displaying dogged determination and extreme self-control, Pfc. Hawks, despite severe pain and his dangling left arm, completed the task of bandaging the remaining casualty and with superhuman effort dragged him to the same depression to which he had brought the first man. Finding insufficient cover for 3 men at this point, Pfc. Hawks crawled 75 yards in an effort to regain his company, reaching the ditch in which his fellow aid man was lying.
    1950—Top Hits 
Dear Hearts and Gentle People - Bing Crosby 
The Old Master Painter - Richard Hayes 
A Dreamer's Holiday - Perry Como 
Take Me in Your Arms and Hold Me - Eddy Arnold
    1950 - NBC-TV debuted the drama series, "Robert Montgomery Presents". The well received show played for seven seasons.
    1951--*McGOVERN, ROBERT M. Medal of Honor
Rank and organization: First Lieutenant, U.S. Army, Company A, 5th Cavalry Regiment, 1st Cavalry Division. Place and date: Near Kamyangjan-ni, Korea, 30 January 1951. Entered service at: Washington, D.C. Birth: Washington, D.C. G.O. No.: 2, 8 January 1952. Citation: 1st Lt. McGovern, a member of Company A, distinguished himself by conspicuous gallantry and intrepidity at the risk of life above and beyond the call of duty in action against an armed enemy of the United Nations. As 1st Lt. McGovern led his platoon up a slope to engage hostile troops emplaced in bunker-type pillboxes with connecting trenches, the unit came under heavy machine gun and rifle fire from the crest of the hill, approximately 75 yards distant. Despite a wound sustained in this initial burst of withering fire, 1st Lt. McGovern, assured the men of his ability to continue on and urged them forward. Forging up the rocky incline, he fearlessly led the platoon to within several yards of its objective when the ruthless foe threw and rolled a vicious barrage of handgrenades on the group and halted the advance. Enemy fire increased in volume and intensity and 1st Lt. McGovern realizing that casualties were rapidly increasing and the morale of his men badly shaken, hurled back several grenades before they exploded. Then, disregarding his painful wound and weakened condition he charged a machine gun emplacement which was raking his position with flanking fire. When he was within 10 yards of the position a burst of fire ripped the carbine from his hands, but, undaunted, he continued his lone-man assault and, firing his pistol and throwing grenades, killed 7 hostile soldiers before falling mortally wounded in front of the gun he had silenced. 1st Lt. McGovern's incredible display of valor imbued his men with indomitable resolution to avenge his death. Fixing bayonets and throwing grenades, they charged with such ferocity that hostile positions were overrun and the enemy routed from the hill. The inspirational leadership, unflinching courage, and intrepid actions of 1st Lt. McGovern reflected utmost glory on himself and the honored tradition of the military services.
    1951-Birthday of singer Phil Collins, born Chiswick, England. He joined the art-rock group Genesis in 1970 as drummer, replacing John Mayhew. Collins became the lead vocalist for Genesis after the group's front man, Peter Gabriel, left in 1974.   With Collins fronting the band, Genesis began to score hit singles, starting with "Follow You, Follow Me" in 1978. Collins, while remaining with Genesis, started a solo career in 1982. His first album, "Face Value," sold two-million copies. He's had numerous single hits as well, including such chart-toppers as "Against All Odds," "One More Night," "Sussudio" and "Separate Lives," a 1986 duet with Marilyn Martin.
http://www.philcollins.co.uk/
    1953 -- President Dwight Eisenhower announces that he will pull the Seventh Fleet out of Formosa to permit the Nationalists to attack Communist China. 
    1954-- Big Joe Turner's "TV Mama" enters the R&B charts.
    1956 -- As Martin Luther King, Jr. stands at the pulpit, leading a mass meeting during the Montgomery, Alabama, bus boycott, his home is bombed. By chance, King's wife & 10-week-old baby escape unharmed. Later tonight, a thousand angry African Americans assemble on King's lawn. When King appears on his devastated front porch, he tells them: "If you have weapons, take them home. . . . We cannot solve this problem through retaliatory violence . . . We must love our white brothers, no matter what they do to us." King's speech lifts the nonviolent protest movement to new levels of effectiveness.
    1956--Elvis Presley records a cover version of Carl Perkins "Blue Suede Shoes" which will reach number 20 on the US Pop chart in April.
   1956--- Billy Lee Riley records "Red Hot" 
    1958- the first two-way moving sidewalk was placed into service at Love Field Air Terminal, Dallas, TX. The walk was also known as a passenger conveyor.
    1958—Top Hits 
At the Hop - Danny & The Juniors 
Don't/I Beg of You - Elvis Presley 
Stood Up/Waitin' in School - Ricky Nelson 
The Story of My Life - Marty Robbins
    1958- Dore Schary's "Sunrise at Campobello" premieres in New York City NY on FDR's birthday.
http://www.geocities.com/Heartland/Ranch/5212/campobello.html
http://www.imdb.com/Title?0054354 
    1959-Birthday of vocalist Jody Watley, Chicago, IL
http://missjodywatley.com/
http://www.americamodels.com/jodywatley/index2.html
http://www.starsofhollywood.com/jody_watley.html
    1960 - Carol Heiss won the women's singles United States figure skating championship.
    1961 - Will You Love Me Tomorrow, by The Shirelles, hit Number 1 on Billboard's hit record charts, and remained in the top spot for 2 weeks.
    1961-The Shirelles became the first girl group to have the number one song on the Billboard Hot 100 when "Will You Love Me Tomorrow" reached the top. They would go on to place ten more hits in the Top 40.
    1962 -- Two members of Flying Wallendas' high-wire act killed when their 7-person pyramid collapses while performing at the State Fair Coliseum in Detroit, the front man on the wire faltered and the pyramid collapsed. Three men fell to the ground, the rear anchorman alone remained standing on the wire. Karl and his brother Herman fell to the wire from the second level. The girl at the top level landed on Karl as he miraculously held her until a makeshift net could be held beneath her. Two of the three men who fell to the earth died that night The third, Karl's son Mario, survived, though he is paralyzed from the waist down.
http://www.wallenda.com/history.html
http://www.who2.com/theflyingwallendas.html
    1964-- Beatles, "Please Please Me" released this day.
    1965-Leroy “Satchel” Paige, major league baseball player, named all-time outstanding player by National Baseball Congress.
http://memory.loc.gov/ammem/today/jul07.html
http://www.nbcbaseball.com/history/ 
    1965--Following her 1963 #8 hit "The Nitty Gritty", Shirley Ellis reaches #3 on the Billboard Pop chart and #4 on the R&B chart with a novelty tune called "The Name Game". 
    1966 -19ºF (-28ºC), Corinth MS (state record) 
    1966 -27ºF (-33ºC), New Market AL (state record)
    1966—Top Hits 
We Can Work It Out - The Beatles 
Barbara Ann - The Beach Boys 
No Matter What Shape (Your Stomach's In) - The T-Bones 
Giddyup Go - Red Sovine
    1968- the TET offensive began: Vietnamese general staff headquarters. Costing as many as 40,000 battlefield deaths, the offensive was a tactical defeat for the Viet Cong and North Vietnam. The South Vietnamese held their ground and the US was able to airlift troops into the critical areas and quickly regain control. However, the offensive is credited as a strategic success in that it continued the demoralization of American public opinion. After Tet, American policy toward Vietnam shifted from winning the war to seeking an honorable way out.
    1969- -- The Beatles give their last public live performance on the roof of their own Apple Studios, 3 Savile Row, London. The band had come up with the idea of a rooftop performance a few days earlier, but the roof had to be shored up first in order to handle the weight of the group's equipment. Filmed for the movie that eventually became Let It Be, the set performed was as follows: "Get Back" (take 1), "Get Back" (take 2), "Don't Let Me Down," "I've Got A Feeling" (take 1), "One After 909," "Dig A Pony," "I've Got A Feeling" (take 2), "Don't Let Me Down" (take 2), "Get Back" (take 3). (The band also does a version of "God Save The Queen" that is not recorded.) The concert, which lasts 42 minutes, comes to an abrupt end when police, tipped off by the complaints of a nearby shop owner, shut the concert down.  The Beatles managed to carve their place in music history in a career that lasted seven years, counting from the recording of their first hit single, "Love Me Do," in 1962.
    1970 -- For the second time in six months, rioting erupts during an anti-war protest in East Los Angeles.
    1971-- Janis Joplin, "Me And Bobby McGee" released this day.
    1973 –In the continuing Watergate scandal, James W. McCord and G. Gordon Liddy, former members of the Nixon reelection campaign, were convicted of breaking into and illegally wiretapping Democratic Party headquarters in 1972. Five others involved had earlier pleaded guilty.
    1974—Top Hits 
You're Sixteen - Ringo Starr 
The Way We Were - Barbra Streisand 
Love's Theme - Love Unlimited Orchestra 
I Love - Tom T. Hall
    1975-The Bee Gees begin recording "Jive Talkin", which will become their second US chart topper and their fourteenth Billboard Top 20 hit. Barry Gibb's inspiration for the song came when his wife commented on the sound their car made while crossing a bridge over Biscayne Bay into Miami. She noted, "It's our drive talkin'." 
    1976 -- George Bush becomes 11th director of CIA.
    1977 - The final episode of Roots, the milestone mini-series on ABC, was watched on this date by an estimated 80 million viewers. It was the highest-rated mini-series in television history.
http://www.museum.tv/archives/etv/R/htmlR/roots/roots.htm
http://www.socialistworker.org/2002-1/392/392_09_Roots.shtml
http://www.gale.com/free_resources/bhm/bio/haley_a.htm
    1977-- The great "Buffalo Blizzard" finally abated after three days. The storm added a foot of new snow to 33 inches already on the ground. Winds gusting to 75 mph reduced visibilities to near zero, produced snow drifts twenty-five feet high, and kept wind chill readings 50 degrees below zero. The blizzard paralyzed the city, and caused 250 million dollars damage.
    1979-African-American Franklin Thomas named president of the Ford. In his retirement, he was named Chairman of the September 11 th Funds, 2001
http://user.intersatx.net/jc/thomas.html Foundation.
http://www.unitedwaywaukesha.org/UWNews/pressreleases/
former_ford_foundation_president.htm

    1982—Top Hits 
I Can't Go for That (No Can Do) - Daryl Hall & John Oates 
Centerfold - The J. Geils Band 
Harden My Heart - Quarterflash 
The Sweetest Thing (I've Ever Known) - Juice Newton
    1982--Hall & Oates' "I Can't Go for That" hit number one on the Billboard Pop chart and the R&B chart simultaneously, one week after hitting number one on the Disco chart. It becomes only the fourth single by a white act to reach the top of the R&B chart since 1965. 
    1983- the Washington Redskins defeated the Miami Dolphins, 27-17, to win Super Bowl XVII. Washington, in winning its first NFL title in 40 years, was led by fullback John Riggins, who rushed for 166 yards on 38 carries and was named the game's Most Valuable Player.
    1986 - The "Love" stamp featuring a little dog, went on sale, as the fifth in the continuing series. As of that date, over 302 million "Love" stamps had been sold.
    1989,-"When I'm With You," a seven-year-old song by the defunct Toronto band Sheriff, hit number one on the Billboard Hot 100. The song's belated success brought its writer, Arnold Lanni, millions of dollars in royalties. Lanni went on to form the band Frozen Ghost.
    1989-George Michael has a big night at the 16th American Music Awards, winning Favorite Album for "Faith" and Favorite Male Artist in both the Pop / Rock and Soul / R&B categories.
    1990-Bob Dylan is awarded France's highest cultural honor when he is named Commandeur dans l'Ordre des Arts et des Lettres by The Minister of Culture, Jack Lang.
    1990—Top Hits 
How Am I Supposed to Live Without You - Michael Bolton 
Downtown Train - Rod Stewart 
Just to Make It Right - Seduction 
Nobody's Home - Clint Black
    1990- A major winter storm produced heavy snow from Indiana to New England. It was the biggest storm in two and a half years for eastern New York State. Snowfall totals in the mountains of Maine ranged up to 20 inches at Guilford and Lovell. Other heavy snowfall totals included 17 inches at Utica NY, and 19 inches at Bethel VT, Ludlow VT, and New London NH. The storm claimed three lives in eastern New York State, and four lives in Vermont. 
    1992 -- The Guthrie Center is dedicated. The Guthrie center is a non-profit organization, put together by folksinger Arlo Guthrie. It is housed in the church building that provided the setting of his best known story-song Alice's Restaurant.
“I am out to sing songs that will prove to you that this is your world & that if it has hit you pretty hard and knocked you for a dozen loops, no matter what color, what size you are, how you are built, I am out to sing the songs that make you take pride in yourself and in your work. & the songs that I sing are made up for the most part by all sorts of folks just about like you. I could hire out to the other side, the big money side, and get several dollars every week just to quit singing my own kind of songs ... But I decided a long time ago that I'd starve to death before I'd sing any such songs as that. “---Woody Guthrie
http://www.guthriecenter.org 
http://www.inkblotmagazine.com/rev-archive/guthrie.htm
    1993- subway service in Los Angeles began. It consisted of a single route, a 4.4 mile, five-station track connecting Union Station with MacArthur Park. An expanded system with 22 miles of track and 20 stations was planed to be completed by 2001. The web site says 17.4 miles have been completed.
http://www.trainweb.org/subwaymark/transit/US%20West/la_hr.htm 
    1994- Super Bowl XXVIII Dallas Cowboys beat Buffalo Bills, 30-13 in Atlanta; Super Bowl MVP Emmitt Smith, Dallas, Running Back 1994- Dan Jansen skates world record 500m (35.76) . He took his victory lap with baby daughter Jane, named after his sister who died from leukemia, in his arms; won 1994 Sullivan Award.
http://www.usolympicteam.com/athlete_profiles/d_jansen.html
http://www.infoplease.com/spot/02oljansen.html
http://www.sportsstarsusa.com/olympians/jansen_dan.html
    1994- the Boston Celtics retire No. 32, the jersey worn by forward Kevin McHall for 13 seasons, in a halftime ceremony. McHall scored 17,335 points, made seven All-Star teams and helped the Celtics win three NBA championships.
    1994-- Natalie Cole sings the national anthem at Superbowl XXVIII in Atlanta, GA.
    1998-Howard Stern Radio Show premieres in Indianapolis IN on WNAP 93.1 FM 
http://www.howardstern.com/
http://www.eonline.com/On/Howard/index.html 
    2000 - Super Bowl XXXIV (at Atlanta): St. Louis Rams 23, Tennessee Titans 16. Rams' QB Kurt Warner (MVP) completed 24 of 45 passes for a record 414 yards (breaking Joe Montana's mark of 357 yards). Plays of the game: 1) Warner to Isaac Bruce for a 73-yard touchdown pass in the 4th quarter and 2) St. Louis linebacker Mike Jones stopping Tennessee's Kevin Dyson just short of the goal line as time expired. Tickets: $325.00 to $400.
    2008-Madonna topped Forbes magazine's list of the 20 top grossing females. The 49 year old material girl banked $72 million between June 2006 and June 2007, while Barbra Streisand and Celine Dion followed, taking home $60m and $45m respectively.

Superbowl Champions This Date

    1983 Washington Redskins ( Washington 27-Miami 17 )
    1994 Dallas Cowboys ( Dallas 30-Buffalo 13 )
    2000 St. Louis Rams ( St. Louis 23-Tennesse 16

http://www.superbowl.com/xxxvi/history/recaps/sbxxxiv.html

 

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