MCA Made to Desperate Borrowers
Experiencing Severe Financial Distress 

By Tom McCurnin
Leasing News Legal Editor

Hard Money Loan Made on the Eve of Bankruptcy Was Not Per Se in the Ordinary Course.  Court Denied Summary Judgment and Case Goes to Trial

Official Comm. of Unsecured Creditors v. EBF Partners, LLC 2019 Bankr. LEXIS 6 (Bankr. D.Neb. Jan. 3, 2019, Nos. BK16-40787, A17-4050). 

Merchant Cash Advances are made to desperate borrowers experiencing severe financial distress. The money is, quite frankly, more important than the rate of interest charged by the lender. As a result of the financial distress, even with the influx of the new expensive funds, many of the borrowers ultimately fail and file bankruptcy. 

Against this backdrop, the bankruptcy trustees often look to the hard money lender to repay the loan payments as a preference. 

This case also ties into a column I wrote in November, 2018, on the value of using a UCC filing for MCA Transactions (1)

In today’s case, a hard money lender purchased receivables in a MCA transaction. The bankruptcy trustee sued the lender to recover a preference. The court denied the lender’s motion for summary judgment because the motion raised issues of fact. The facts follow.

EBF Partners, LLC is a Florida-based merchant cash advance lender, having loaned $27,000 to Cornerstone Tower Services, which erects and maintains cell phone towers. Shortly after receiving the funds, Cornerstone filed bankruptcy. The trustee sued to recover a preference.

EBF filed a summary judgment claiming it was not a lender but instead the purchaser of receivables.  However, since EBF did not file a UCC-1, the receivables EBF purchased were property of the estate and subject to a preference action.

Next, EBF argued that the loan was in the ordinary course of business. There is an exception to preference actions if the loan was made in the ordinary course of business. The trustee argued that there was no baseline of lending experience prior to the loans in question within the preference period, less than two months before Cornerstone filed for bankruptcy. 

The court noted that the ordinary-course-of-business exception can apply even when the parties do not have a track record of prior dealings and first-time transactions may satisfy the requirements of the exception.  The court also noted that every borrower who does something in the ordinary course of her affairs must, at some point, have done it for the first time. The court finally noted that such transactions with troubled companies should be encouraged.  Indeed, the court stated that it could not imagine little that would discourage a lender from extending credit to a new customer in questionable financial circumstances more than the knowledge that it would not even be able to raise the ordinary course of business defense, if it is subsequently sued to recover an alleged preference.

However, notwithstanding the court’s leaning toward the ordinary course defense, the court refused to grant the lender’s motion for summary judgment and instead set the matter for trial. In essence, the ruling is a tie, neither the lender nor the trustee, won. 

What are the takeaways here?

• First, The Lender’s Status as a Purchaser of Receivables Was Defeated Because It Did Not File a UCC-1. I’ve said this before, that there is simply no downside in filing a UCC-1. Had the lender done so, it would not be caught up in a trial. Yes, a $35 filing fee would have saved thousands of dollars. 

• Second, The Court Got It Right. While the Court was certainly sympathetic to the ordinary course defense (it should be, there is Supreme Court authority for the same), it simply could not gauge ordinary course by a transaction squarely within the preference period, and no activity outside the preference period.  There was no baseline to examine. 

• Third, MCA Lending Is Inherently Risky in a Bankruptcy Context. These are always high interest, hard money loans made to companies in financial distress. The MCA lenders are simply a popular target by bankruptcy trustees. 

The bottom line to this case is that while the bankruptcy court was sympathetic to the ordinary course defense, it simply could not dismiss the action when the baseline of activities was squarely within the preference period. If you are a MCA lender with these types of short term high interest loans, there really is no way to protect yourself except to have a valid security interest in the receivables. 

(1) Merchant Cash Advance Deemed Not to be a Loan—
    But Denies Summary Judgement Whether MCA ACH Debits
http://leasingnews.org/archives/Nov2018/11_21.htm#merchant

Cornerstone Case (12 pages)
http://leasingnews.org/PDF/cornerstone_12019.pdf

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

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

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

 

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New Hires/Promotions in the Leasing Business
and Related Industries

Todd Clegg was hired as General Manager, Commercial Leader, Business Development, Financial Services, Healthcare Finance, TCF Bank, Springfield, Pennsylvania.  He is located in the Greater Milwaukee Area. He previously was with GE Capital, starting October, 2000, Vice President/Account Manager, Healthcare Financial Services (October, 2000 - December, 2003); Quality Leader, January, 2004 - December, 2005); Senior Vice President/Zone Commercial Leader, Central US (January, 2006 - February, 2011); Managing Director, Relationship Management Group (February, 2011 - December, 2015); Managing Director, Healthcare Equipment Finance (January, 2016 - December, 2018). Education: Northwestern University, Kellogg School of Management, MBA, Executive MBA Program.  Virginia Tech, Bachelors of Science, Finance & Marketing.
https://www.linkedin.com/in/toddwclegg/

Man Gurnani was hired as Senior (Lead) Credit Portfolio Officer, Vice President, Bank of the West, Tempe, Arizona on October, 15th, 2018. He started at Wells Fargo in July, 2006 as SBA Loan Documentation Consultant; promoted Private/Business Underwriter, Business Banking Resource Center; promoted Credit Analyst 2/Underwriter, Wells Fargo Equipment Finance, Commercial Vehicle Group; promoted March, 2017, Senior Credit Analyst/Vice President of Floor Plan Financing for Construction Equipment; during this time he served in the Commercial Vehicle Group and Capital Markets Group.  Volunteer Experience: Lunch Service, People Serving People (May, 2014).  Food Packaging, Feed My Starving Children (January, 2014 -2016).  Education: University of Wisconsin, River Falls (UWRF), May, 2003, Bachelor of Science (B.S.) Economics (1999 - 2003).Activities and Societies: President of International Student Association.  Consultant of International Student Association. Teachers Assistant for Summer School Explorer Program.  Recipient of prestigious University of Wisconsin Chancellors Award.
https://www.linkedin.com/in/man-gurnani-00203365/

Lori Littleford, CLFP, was hired as Vice President of Sales, NFS Leasing, Beverly, Massachusetts. She is located in El Dorado Hills, California.  Previously, she was Vice President, Senior Business Development Office, Equipment Finance, Hanmi Bank (March, 2017 - January, 2019); Vice President, Marketing Manager, 3rd Party Originations, Bank of the West (February, 2105 - March, 2017); VP. Strategic Account Executive, Bank of America Merchant Services (October, 2012 - February, 2016); AVP/Merchant Service Specialist, Bank of America (March, 2010 - October, 2012); Owner, Infinity Capital (January, 2008 - March, 2010); VP, Commercial Leasing Officer, First Republic Bank/Bank of Walnut Creek (1999 - 2007); Owner, Discovery Leasing (January, 1997 - May, 1999); Operations Manager/Credit Manager, Signature Financial Group (March, 1991 - January, 1997). https://www.linkedin.com/in/lori-littleford/ 

David McCarthy was hired as Senior Vice President, Federal Finance, Key Equipment Finance, Superior, Colorado. He is based in Fort Lauderdale, Florida. He previously was with IBM, starting January, 2015, Manager of Business Development; promoted January, 2017, Business Development Executive. Prior, he was at IBM Global Financing, starting March, 2007, Project Financing Sales Executive; promoted December, 2008, Open Infrastructure Financial Executive. He joined GE Capital, 1998, as Black Belt/Project Manager; promoted, 2001, Asset Management. National Account Manager, GE Commercial Finance (2002 - 2004); Sales Executive, General Electric (1999 - 2007). "He began his career as a U.S. Naval officer, serving as a supply officer and gun director on the USS Wisconsin during the First Persian Gulf War. Additionally, Dave did subsequent tours with the Aviation Supply Office as a weapons systems manager for trainer aircraft, and served abroad in Naples, Italy."  Education: Georgetown University, McDonough School of Business. MBA. Finance (1996 - 1998).  University of Pennsylvania, BA, Economics (1984 - 1988).
https://www.linkedin.com/in/david-mccarthy-6755431/

Candance J. Reinhart, CLFP, was hired as Sr. Vice President and Operations and Syndications, CoreTech Leasing, Inc. Newport Beach. Previously, she was at First National Capital as Vice President of Operations (May, 2014 - December, 2018).  She joined Crossroads Equipment and Finance April, 2011 as Credit and Documentation Manager; promoted December, 2012, Business Systems Manager; promoted October, 2013, Director of Systems & Information Technology.  Prior, she was Documentation Specialist at Jules and Associates (March, 2010 - April, 2011); Stay at Home Mom (October, 2008 - March, 2010); Lease Administrator, Strada Capital Corporation (May, 2007 - October, 2008); Operations Manager, Quail Capital (May, 2001 - May 2007).  Education:  California State University-Fullerton.  Saddleback College. AA, General Studies and Business Management.
https://www.linkedin.com/in/candace-reinhart-clfp-4a36b819/

Eric Thomas was hired as SVP, Credit Manager, Equipment Finance, TriState Capital Bank, Pittsburg, Pennsylvania. He is located in Towson, Maryland. Previously, he was SVP, Credit Officer, MB Financial Bank (October, 2012 - December, 2018). He joined SunTrust Equipment Finance & Leasing, October, 2008 as Credit Portfolio Manager; promoted, July, 2011 as Portfolio Manager, Middle Market Banking. Middle Market and Business Banking Credit Analyst, M&T Bank (August, 2003 - October, 2008); Regional Credit Manager, Aerotek (1999 - 2001).  Education: University of Pittsburgh, Katz Graduate School of Business, MBA, Finance (2001- 2002). University of Maryland, Finance (1992 -1996).  https://www.linkedin.com/in/eric-thompson-16476426/

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Letters! We Get Email
Onset/Joe Mazzoni/Mr. Terry Winders/NJ Law/ Rosenlund Retires

 

Onset Finance Gets a Pass in Utah Federal Court
on California Based Usury Claim of Choice of Law
     Provision Contained in Lease
  By Tom McCurnin, Leasing News Legal Editor
http://leasingnews.org/archives/Jan2019/01_22.htm#utah

“Kit, what I love about these articles you publish from time to time, is that they highlight the importance of reading the fine print on contracts when dealing with lenders. Get a written assurance in writing, stating that when you pay your final installment, ownership of your financed equipment reverts back to you. The names of lenders with contracts containing the so called 'evergreen' clause must be highlighted.”

Francois van Reede
Founder of the Bankman
Equipment Finance Originator for Commercial Lenders

(We have a list. Editor)

Bad Guys: Companies who utilize Evergreen Clauses
for Extra Lease Payments
http://leasingnews.org/Pages/lease_expiration_evergreen_badguys.html

---

Leasing Broker/Salesman Joe Mazzoni Dies in Crash
   Celebration of Life, Friday, 3pm, Rancho Murrieta

"I went to the service yesterday with Kathy Nordendahl and Nick Ross and met-up with Kevin Ralph and Lori Littleford (all former BOW employees) there.  It was very well attended, guessing about 300 people there – Joe was quite a guy, lots of stories and memories shared.”"

Steve Crane, CLFP
EVP & Sales Manager
BSB Leasing, Inc.

"Hi Kit.   I was shocked and saddened to hear about Joe Mazzoni.  Thanks to you and Steve for sharing the article.  I worked with Joe when he ran North American Funding years ago when I was with Manifest. What a fun guy he was.  He always had a smile on his face, a story to make us laugh and was very proud of his family.  I just talked with him through LinkedIn messenger a month ago.  Same old Joe I remembered.  RIP Joe."

Carrie Radloff, MBA, CLFP
Business Development Manager
American Financial Partners, Inc.

"Long time since we had contact but I still read Leasing News pretty often.  I was shocked to hear about Joe Mazzoni.  The name of his company was indeed, North American Funding but before forming that company he worked for me at my original company, which was called Rose Financial Service, Inc., located in Petaluma. That was back in 1985-88. Joe was a great guy, very gregarious, fun to be around and a hard worker.  He was a dedicated family man and he moved back to Rancho Murietta after living in San Francisco for several years, to be near his family.  His Dad, Joe Sr., worked for the Forest Service for many years and I believe the family, maybe his grandparents, also was long time restaurant owners in the area.  I was sorry to hear that he died so tragically. 

"I am enjoying retirement and my new grand babies.  We will be relocating to Naples, FL this year.  The kids are all grown and on their own.  I keep busy with some consulting projects and some expert witness work but nothing too strenuous.

"Hope all is well with you. Take care"

Regards
Bob Rodi

---

Leasing 102
By Mr. Terry Winders, CLFP

"I have been a recipient of the Leasing Newsletter for years and have found them to be full of recent updates in the industry, educational and fun to read.  Not too long ago you had Terry Winders write a segment in your newsletters entitled “Leasing 102” and it would cover several leasing topics which I found insightful and useful throughout my career.  I was wondering if this is a segment that you can bring back into your newsletters to assist newcomers to the leasing industry understand some of the basics. 

"Let me know your comments.  Thanks."

Linda M. Parady
Vice President | M&T Bank
Commercial Equipment Finance

(http://leasingnews.org/#top

(collections in above

{Here is #102

(http://leasingnews.org/Conscious-Top%20Stories/Leasing_102/Index.htm}

Editor

"Thank you so much for this wealth of information!!  I welcome receiving your newsletters and enjoy reading them.

"Much appreciated."

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NJ  State Senate Unanimously Votes to Advance Legislation
Requiring Small Business Lenders and Brokers
Truth in Lending-Type Disclosures
http://leasingnews.org/archives/Jan2019/01_03.htm#nj

(#1 in most read stories in last week time period.)

"Thank you! All the credit goes to you however.  Don’t know where the industry would be without you. Thanks for including me in some small way."

ROBERT L. HORNBY
Chair, Equipment Leasing & Finance
Chiesa, Shahinian & Giantomasi, PC

---

John G. Rosenlund, CLFP Retires

“Hi Kit,

“I am sending this out to a large group of people but wanted you to be amongst the first to receive it. I would appreciate if you would update my e-mail address to the one on my letter below so I can continue to receive Leasing News.

“I do plan to stay involved on a smaller stage and will be looking for some occasional contract or other tasks to keep me updated.

“As we move towards the end of a busy and challenging year, I wanted to let all my friends and colleagues know I have made the decision to retire from PFSC, effective 12/31/2018.

“After spending 44 years in the finance business, beginning in consumer, retail, commercial/asset based lending and in portfolio servicing, I feel it is time to move on from corporate and staff management and let some of my excellent staff here take over. My career spans some very significant financial, regulatory and economic changes this country has seen and if it has happened, I and most of you have seen it and dealt with it in some manner. I have made many friends in this industry and I owe many thanks to a lot of people out there for working with me and being a part of my life, personally and professionally.
 
“I believe most of you that know me real well may be thinking--that I may not be able to quit my hectic schedule this quickly. After a “cooling off period” it is very possible I may need some consulting or portfolio management work so don’t be surprised if some of you hear from me!

“I see us entering another new financial period and as long as we have brilliant, aggressive entrepreneurs looking for new financing methods (and improving on the old ones!) and customers, our industry will stay strong and dynamic.
 
“My best to everyone and thank you for your past and future friendship and enjoy the rest of Holiday Season!”

John G. Rosenlund, CLFP
Director-Risk Management
Portfolio Financial Servicing Company

CLP July Spotlight: John G. Rosenlund, CLPhttp://leasingnews.org/archives/Jul2011/7_08.htm#clp_july

---

Captain Howard Bennett, Chairman and Santa Clara County Superior Court Judge Mary Jo Levinger, Kit Menkin, Past Chairman Ken Kelly.

"Thanks, Kit – great to see those old photos!

"Happy New Year."

Ken and Linda (LeZotte)

---

Madison Capital Executive Reflects on Four Decades in Business
Looking Back and Forward on a Dynamic Industry
By Susan Carol
http://leasingnews.org/archives/Dec2018/12_20.htm#madison

"Tons of emails and calls.
Actually, working on a few transactions as a result of the article. Merry Xmas. "

Sent from IPhone
Allan Levine
Partner
Madison Capital LLC

 

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Pacific Rim Capital 49% stake acquired
by Fuyo General Lease, "a leading Japanese lessor"

Dave Mirsky, CEO, Pacific Rim Capital, began the press release, “...very pleased to announce that Fuyo General Lease (FGL) has acquired a 49% interest in our company. We are very excited to start a new chapter of growth for our company, providing our clients value in new countries, asset classes and financial products.  When asked by Leasing News what the US dollar amount was, he said, “I’m not allowed to say, per the Stock Purchase Agreement.  I appreciate your column and would answer if I could.”

Marc Mills, President, said in the press release, "Our new partnership with Fuyo will help PRC to continue to aggressively expand its customer base and to build on our successful relationships. I would like to thank the NMSDC and its member corporations for providing minority business enterprises with potential for substantial growth, the opportunity to access equity capital, while retaining management and control, as they expand both nationally and globally."

A press release from The Alta Group noted they "played a key role in the Investment by FGL.  The company is "headquartered in Tokyo, is a major Japanese lessor with assets of nearly US$20 billion.   The company made this investment as part of a strategy of promoting advancement into new areas through investment and collaboration with non-Japanese leasing companies.  PRC is based in Irvine, CA and is a leading independent equipment leasing company that primarily provides operating leases of material handling equipment in the U.S., Mexico and Canada.”

Bruce Kropschot, Alta Senior Managing Director, said, “FGL has been a long-time client of The Alta Group, and we are pleased that they selected us to explore investment opportunities in the U.S. market. We identified a number of potential U.S. partners for them, and PRC was clearly the best fit for FGL’s objectives.  Alta has also had a long relationship with PRC, and we have been very impressed with the company’s success and management under founders David Mirsky and Marc Mills.  We believe that with FGL’s investment and the continued leadership of Mr. Mills and Mr. Mirsky, PRC is well-positioned for further growth.”

Jim Jackson, Alta Managing director and Merger and Acquisition Advisory Practice Leader, commented, “It is always gratifying for Alta to have helped secure an affiliation of two companies that should have a bright future together.  Our client FGL recognizes that PRC’s leasing business is different from any of FGL’s businesses, and FGL intends to support the efforts of PRC’s current management to expand into new markets and access new clients while increasing financial strength.”

Kropschot added, “This is the 10th M&A transaction we have helped arrange with Japanese-owned equipment finance businesses over the years – nine with U.S. companies and one with a Canadian company.  Japanese companies have been eager to expand in the U.S. market because the U.S. economy has been growing faster than the Japanese economy.  Japanese equipment finance companies and banks continue to be good sources of capital for U.S. equipment leasing and finance businesses.”

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Leasing News Advisor
Ben Carlile

Ben Carlile
SVP Portfolio Management
MAXIM COMMERCIAL CAPITAL, LLC
11620 Wilshire Blvd, Suite 540
Los Angeles, CA 90025
ben@maximcc.com
Direct: 415-737-5791 
Main: 213-480-4840 x306

Since January 2017, Ben has played a key role in the management team at Maxim Commercial Capital, LLC, a privately-held specialty finance company located in west Los Angeles. At Maxim, Ben has applied his skills to improve portfolio management results, re-engineer key processes and facilitate executive decision-making. Notable performances to date include a sharp decrease in delinquencies and losses in Maxim’s nonprime transportation business.

Ben joined the Leasing News Advisory Board in 2014, bringing his 26 years of management and lease operation experience as well as his desire to provide his insight and expertise toward a good cause. He is a strong ethical leader with an enduring commitment to the success of our industry.

Previously, Ben was Managing Director and President of Allegiant Partners Inc., an independent equipment finance company in San Rafael, California. He was Chief Credit Officer, Board of Directors member, and shareholder since 2000, involved in strategic planning, operations, capital acquisition and other vital contributions to success.         
 
Prior to Allegiant, Ben spent 11 years as Vice President of Credit Administration for Trinity Capital Corporation, San Francisco, California. At Trinity, he managed strong portfolio growth and performance that led to an improved access to capital and a lucrative portfolio servicing business. Trinity was acquired by Bank of the West in 2002.     

Ben’s earlier experience includes management positions at Bank of America, and CIT. He also served on the Novato Charter School Board (2008-2011), including a term as President. He is a Rosarian and shares an interest in financial innovation and data intensive technologies.

Ben is currently serving his fifth year as a member of the Equipment Leasing and Finance Association (ELFA) Credit and Collections Planning Committee. He, his wife and the twins live in Marin County, California.

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

Grant Thornton launches LeaseCom Analytics
FASB New Lease Accounting Standard Web-Based Application

CHICAGO----To help public and private companies adjust to FASB’s new lease accounting standard, Grant Thornton LLP has introduced a web-based application called LeaseCom Analytics (LCA). LCA combines advanced analytics and machine learning to automate the process of maintaining a complete, accurate picture of a company’s lease portfolio.

According to Joe Brown, Grant Thornton’s National Managing Partner, Strategic Federal Tax Services and ASC 842 Advisory Services: “LCA is a critical tool in helping companies deal with volumes of disparate data. It absorbs data about leased equipment and spaces from multiple IT systems on an ongoing basis, and then looks for recurring payments to the same vendor, simplifying the process of verifying an accurate list of leasing transactions.”

Brown explains that LCA is flexible and comprehensive, and can save users thousands of man hours identifying, collecting and verifying lease information. Moreover, it allows companies to comply fully and continually with ASC 842 requirements. “That’s time and resources that companies could otherwise deploy for value-added activities,” he says.

LCA works especially well for globally dispersed teams that need to go beyond establishing compliance visibility and create a sustainable, automated process.

“Without automation, companies are exposing themselves to increased risks and may even be disseminating inaccurate information,” says Brown. “It’s simple: With LCA you’re reducing errors and increasing compliance confidence with little organizational impact.”

Grant Thornton developed LCA specifically to help clients as they move beyond the initial ASC 842 compliance deadline, providing them with more than a one-time fix. The solution complements Grant Thornton’s LeaseX offering, an ASC 842 readiness assessment tool that integrates with market-wide lease software, which more than 100 organizations employed to implement leasing standard compliance programs. “LCA, like a healthy diet, is an ongoing solution – a way to stay compliant with known and unknown lease obligations, with minimal operations impact,” concluded Brown.

For more information about LCA, visit GT.com.

About Grant Thornton LLP
Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organizations of independent audit, tax and advisory firms. Grant Thornton, which has revenues in excess of $1.8 billion and operates 58 offices, works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organizations.

“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. Please see grantthornton.com for further details.

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

 

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Government Shutdown Could Lead to Recession
Dr. Dan Geller of Analyticom Warns

SAN FRANCISCO, - If consumers spend less due to higher money anxiety caused by the Government shutdown, a recession could result, according to a newly-published study in the Journal of Applied Business and Economics: "Dynamics of Yield Gravity and the Money Anxiety Index" co-authored by Dr. Dan Geller and Prof. Nahum Biger.

Dr. Dan Geller the developer of the Money Anxiety Index and the author of the behavioral economics book Money Anxiety, explained, "People instinctively are reducing their spending as survival mechanism when their money anxiety increases,".

"Since about 70 percent of Gross Domestic Product (GDP) is made up of consumer consumption, it means that a mere 5 percent reduction in consumption translates into 3.5 percent of GDP. Therefore, even if the U.S. economy grows at an annualized rate of 2.5 percent, the 3.5 percent reduction in in GDP resulting from reduction in consumption will push the U.S. economy into negative territory - i.e. recession. The cycle of economic uncertainty, which increases money anxiety and thus lowers consumption is a self-fulfilling prophecy for a recession," he said.

When the Government shutdown started in late December of 2018, the Money Anxiety Index increased by 2.2 index points to 45.4 and it remained flat so far in January of 2019. The Money Anxiety Index has been declining ever since June 2011, when it peaked at 100.5 in the aftermath of the Great Recession. However, the economic uncertainty brought by the Government shutdown may reverse this course of declining money anxiety, which will cause a reduction in consumer consumption.

"The U.S. economy is enormous but very fragile" said Dr. Geller. "We view the economy as a solid and stable economic block, but in reality, it is just a collection of millions of individual minds making consumption decisions based on their level of confidence that tomorrow will be a better day than yesterday."

The Money Anxiety Index is an objective reflection of financial confidence. It measures what people actually do with their money rather than what they say in response to surveys. By contrast, other leading consumer confidence indices are based on a questionnaire that asks people what they think about the economy. This distinction is very significant because monitoring financial action, through the Money Anxiety Index, is much more timely and relevant in assessing consumer financial confidence based on what people think about the economy.

The Money Anxiety Index Is highly predictive and very reliable. It is currently used by many financial institutions to project economic changes that are likely to impact interest rates and lending risk level. Prior to the Great recession, the index showed how peoples' money anxiety was trending upwards starting in October of 2006; nearly 14 months before the official start of the Great Recession in December of 2007. Historically, the Money Anxiety Index fluctuated from a high of 135.3 during the recession of the early 1980s, to a low of 38.7 in the mid-1960s.
 

About Analyticom
Analyticom is a behavioral economics firm dedicated to providing banking executives with financial foresight. Analyticom provides the banking industry with advanced analytics and scientific models that forecast the impact of behavioral economics on banking products. The mission of Analyticom is to assist banking executives see ahead and stay ahead.
 
About Dr. Dan Geller
Dr. Dan Geller is a behavioral economist who pioneered the research and application of behavioral economics to the banking services. Through his research firm, Analyticom, Dr. Geller provides banking executives with scientific forecasting and pricing models enabling them to improve financial performance. Dr. Geller is a frequent speaker and media guest. He appeared on national TV and radio, such as CNBC and Fox, and delivered the keynote address at the American Banker's Symposium. He is the author of the groundbreaking book on the impact of Money Anxiety on the economy.

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Fernando's View
By Fernando F. Croce

A caustic fantasy (“Glass”) and a passionate romance (“Cold War”) come to theaters, while DVD releases offer dizzying action (“Mission: Impossible—Fallout”), arresting drama (“Madeline’s Madeline”), and a master’s complete set (“Ingmar Bergman’s Cinema”).

In theaters:

Glass (Universal Pictures): Oscar-nominated filmmaker M. Night Shyamalan dives into the world of comic-book mythology with this caustic, distinctive tale, which brings together several characters from his previous movies. On one side are the protagonists from “Unbreakable,” reluctant superhero David Dunn (Bruce Willis) and his nemesis, Mr. Glass (Samuel L. Jackson). On the other is Kevin Crumb (James McAvoy), last seen in “Split” as a mass of murderous personalities. Dunn and Crumb find themselves headed toward a brutal confrontation, but how much of their conflict is being orchestrated by the nefarious Mr. Glass? Trading the nonstop action from the Marvel blockbusters for a self-reflexive, corrosive study of modern cults, this is an ambitious fantasy that benefits from Shyamalan’s eccentric style, not to mention the commitment of his actors.

Cold War (Amazon Studios): Polish director Pawel Pawlikowski follows his Oscar-winning “Ida” with another dense, visually gorgeous journey into his characters’ emotions. Unfolding from the late 1940s to the 1960s in Europe, it follows the passionate romance between two musical people, young singer Zula (Joanna Kulig) and middle-aged pianist Wiktor (Tomasz Kot). When Wiktor has to leave Poland and move to Paris due to his subversive beliefs, Zula stays behind, beginning a love story spanning many years and even more miles. With the Iron Curtain separating them, they struggle to find ways to get back together despite their differences. Intimately attuned to the ecstasies and longing of the affair, Pawlikowski crafts an arresting, quick-paced tale that brings the political and the personal deftly, achingly together. With subtitles

Nextflix: A comic writer and performer with an inimitable deadpan, Bob Einstein (1942-2019) was a sure-fire laugh-getter in both movies and TV shows. So check out Netflix for his best roles, which include “Modern Romance” (1981) as well as the comedy series “Super Dave” and “Curb Your Enthusiasm.”

On DVD:

Mission: Impossible—Fallout (Paramount): The long-running blockbuster franchise achieves some of its most vertiginous moments in its breathlessly exciting latest entry, with Tom Cruise returning as secret agent Ethan Hunt. Following the events of “Rogue Nation,” the plot finds the members of the IMF team joining forces with CIA professional assassin Walker (Henry Cavill) to take on The Apostles, a gang of terrorists bent on nuclear destruction. When a risky mission ends up with three atomic weapons vanishing, Hunt and the others must race against the clock to prevent untold dangers. Director Christopher McQuarrie keeps the intrigue racing at a brisk clip, with a touch of wit that keeps these spy games from getting too serious. Most amazing of all are elaborate, audience-shaking stunts that could rival the best of James Bond.

Madeline’s Madeline (Oscilloscope): Art and life are braided arrestingly in this fascinating drama from director-actress Josephine Decker (“Thou Wast Mild and Lovely”). Madeline (Helena Howard) is a teenaged girl who, recently released from a psychological ward, is looking for ways to alleviate her traumas and anxieties. She finds an outlet with drama therapy with a troupe that specializes in turning emotional experiences into theatrical pieces. Madeline soon finds herself torn between the group’s director Evangeline (Molly Parker) and her own concerned mother (Miranda July). Can she walk the line between reality and fantasy, or will her fragile condition cause it to snap? Densely layered with increasingly blurred states of mind, Decker’s film is a challenging but rewarding cinematic enigma.

Ingmar Bergman’s Cinema (Criterion): Swedish master Ingmar Bergman gets the deluxe Criterion treatment in this thorough collection, which includes no less than 39 of his films from his 1946 debut to his 2003 swansong. Showcasing a remarkable body of artistic work stretching across several decades, the set illustrates the filmmaker’s stylistic development as well as his contrasting moods. There are anguished, searching early films, followed by the breakthrough hits of the 1950s (“Summer with Monika,” “The Seventh Seal”) and the arthouse masterpieces of the 1960s (“Winter Light,” “Persona”). Continuing into the autumnal works of the next decades (“Cries and Whispers,” “Fanny & Alexander”), the collection gives movie-lovers the chance to check out Bergman’s classics as well as his lesser-known films, his tragedies along with his comedies. A must for serious cinephiles!

Labrador Retriever
Philadelphia, Pennsylvania  Adopt a Dog

Quickly

ID #40371739
Female
Size: Medium
Color: Black/White
Spayed
Declawed: No
Housetrained: Unknown
Site: Pennsylvania SPCA - Philadelphia
Fee: $150

Pennsylvania SPCA
Philadelphia Headquarters
350 E. Erie Avenue
Philadelphia, PA 19134

Hours:
Monday 2:00 - 7:00 p.m.
Tuesday 2:00 - 7:00 p.m
Wednesday-Closed
Thursday 2:00 - 7:00 p.m.
Friday 2:00 - 7:00 p.m.
Saturday 11:00 a.m. - 6:00 p.m
Sunday 12:00 p.m. - 5:00 p.m.

Application:
https://www.pspca.org/sites/default/files/attachments/2017-07/ADOPTION-APPLICATION-2016-DOG.pdf

Benefits of adopting from the Pennsylvania SPCA:
Spay or neuter surgery
Microchip with lifetime registration
Deworming
Age-appropriate vaccines
Dogs: Distemper, Hepatitis, Parainfluenza, and Parvovirus, Bordetella plus first dose of canine influenza
Rabies vaccines (for animals 3 months & older)
Flea & tick prevention
Medical evaluation
Behavior evaluation
Wellness care from our medical staff for 48 hours post-adoption
Behavior phone consults with our Behavior & Training team
Discounts on training classes and individual sessions
The PSPCA will always take the animal back into our care if you are no longer able to keep them
If you have any questions about adoption, please contact adoptions@pspca.org

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

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

NEFA Announces Education Grants Available
for Equipment Finance Professionals

Chris Walker, CLFP
(Photo: GreatAmerica Corporate Directory)

The Chris Walker Education Fund Board of Trustees is now accepting grant requests until the application deadline of January 31st, 2019. The fund will award a total of $18,000 in grants to be distributed by the end of February 2019. The grant application process is available to individuals as well as associations, foundations, and institutions. Individual grants may be requested up to $1,500, or an amount equal to the cost of qualified industry-related education.

Funds available through the Chris Walker Education Fund may be used for any project or need that provides industry education opportunities for leasing professionals. This includes grants for industry-related education, certifications (such as the Certified Lease and Finance Professionals (CLFP) designation), development of content for NEFA’s Online Learning Center, or other education initiatives.

All grant requests must be submitted online through the following link:

https://www.nefassociation.org/page/FundRequestForm

About the fund
Education was always important to Chris Walker, as a NEFA Member and Member of NEFA's Board of Directors. When Chris passed away in 2011, many NEFA Members and other industry professionals wanted some way they could make a donation to honor Chris and continue his great service to this industry. This resulted in the creation within NEFA of the Chris Walker Education Fund.
For more information, you can visit: https://www.nefassociation.org/donations/fund.asp?id=10120

Confidentiality Notice
All requests submitted online will be held in the strict confidence of the Chris Walker Education Fund Committee members. Any information shared will be used strictly for the purpose of determining grant awards and shall not be shared outside of the board members.

Committee Members:
Randy Haug, LTi Technology Solutions rhaug@ltisolutions.com
Kim King, NEFA kking@nefassociation.org
Chris Lerma, CLFP AP Equipment Financing clearma@apfinancing.com  
Guy Selinka, CLFP Streamline Financial Services guy@streamlinefin.com  
Hugh Swandel, The Alta Group hswandel@thealtagroup.com
Kayla Perlinger, CLFP Oakmont Capital Services, LLC kperlinger@oakmontfinance.com

Story of the Award and Chris Walker
http://leasingnews.org/archives/Aug2012/8_16.htm#nefa

News Briefs----

What was on top of the agenda at Davos this year?
    Concern over emerging technologies!
http://www.bankingexchange.com/news-feed/item/7753-davos-technology-and-banking?Itemid=101

GATX Corporation Reports 2018 Fourth-Quarter
     and Full-Year Results
http://ir.gatx.com/phoenix.zhtml?c=70051&p=irol-newsArticle&ID=2384326

California payday lender refunds $800,000
   to settle predatory lending allegations
https://www.northbaybusinessjournal.com/northbay/sonomacounty/9203331-181/california-check-cashing-stores-settlement?ref=tsm

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

You May Have Missed---

PG&E: Judge’s wildfire proposal could cost as much as $150 billion
https://www.sfchronicle.com/california-wildfires/article/PG-E-Judge-s-wildfire-proposal-could-cost-as-13556257.php

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

 

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

Sports Briefs---

A Los Angeles Rams fan lawyer responds
  to the lawsuit from New Orleans Saints fans
https://www.turfshowtimes.com/2019/1/23/18194729/los-angeles-rams-fan-lawyer-responds-lawsuit-new-orleans-saints-fans-no-call-referees

Tom Brady has played in more Super Bowls
   than the Rams’ whole roster
https://profootballtalk.nbcsports.com/2019/01/23/tom-brady-has-played-in-more-super-bowls-than-the-rams-whole-roster/

Klay Thompson reigns in LA as Warriors rout Lakers
https://www.pressdemocrat.com/sports/9196915-181/klay-reigns-in-la-as

Ranking all 52 Super Bowl games from best to worst
https://www.usatoday.com/story/sports/nfl/super-bowl/2019/01/23/super-bowl-ranking-games-worst-best-history-patriots/2631110002/

Larry Fitzgerald returning to Cardinals for 16th season
http://www.theredzone.org/Blog-Description/EntryId/74778/Larry-Fitzgerald-returning-to-Cardinals-for-16th-season

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

California Nuts Briefs---

Firefighters rescue hikers from an icy peak.
   No one knew Stella got left behind
https://www.sacbee.com/news/state/california/article224966175.html

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

“Gimme that Wine”

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

Millennials still missing as fine-wine core consumers
  says Silicon Valley Bank report
https://www.northbaybusinessjournal.com/northbay/sonomacounty/9172413-181/silicon-valley-bank-wine-forecast

The 52 California wineries you need to visit in 2019
http://thepress.sfchronicle.com/review/52-california-wineries-2019/

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

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

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

This Day in History

    1639 - Representatives from three Connecticut towns banded together to write the Fundamental Orders, the first constitution in the New World 
    1640 - The estimated colonial population was 27,947.
    1656 - The first Jewish physician landed in America. He was Dr. Jacob Lumbrozo, who settled in Maryland. He was a native of Lisbon, Portugal. He died in May, 1666.
    1722 - In Cambridge, Mass., Edward Wigglesworth was named to fill the newly created Thomas Hollis chair at Harvard College. Mr. Wigglesworth thereby became the first divinity professor commissioned in the American colonies.
    1738 - Four months before his celebrated Christian conversion, Anglican missionary John Wesley wrote in his journal: 'I went to America to convert the Indians. But oh! who shall convert me? I have a fair summer religion... But let death look me in the face, and my spirit is troubled.'
http://www.ccel.org/w/wesley/
http://www.raptureme.com/resource/wesley/john_wesley.html
    1776 – Colonel Henry Knox arrives in Cambridge, Massachusetts with the 43 British Cannon and 16 mortars captured by Ethan Allen at Fort Ticonderoga. These artillery have been transported cross-country through the wilderness. It was quite an amazing feat and made the difference at the Battle of Boston. 
    1847 - Beginning today, all stray hogs in Yerba Buena (San Francisco, California) must be securely penned or the hogs will be confiscated. The owner would also be fined $5. 
    1848 - James W. Marshall, an employee of John Sutter, accidentally discovered gold while building a sawmill near Coloma, California. Efforts to keep the discovery secret failed, and the gold rush of 1849 was under way.  Actually, the first gold discovered in California was found near the San Fernando Mission in 1842, but no importance was given to it. News of the discovery of gold in California was slow to reach the East coast. Word of it first appeared in the New York Herald on August 19, 1849, but no great excitement was created until President James K. Polk expressed enthusiasm about it in his message to Congress on December 5. The rush began by land across the continent and by sea and land via the Isthmus of Panama. The first shipload of prospectors arrived in San Francisco via Cape Horn on February 28, 1849. About 80,000 people made their way to California in 1848, 55,000 overland and 25,000 by sea. About 5000 who started out overland never made it because Asiatic chorea swept their ranks. By the end of 1849, gold worth $10,000,000 had been mined. The discovery of gold broke John Sutter. From the day he settled in Nueva Helvetia, at the junction of the American and Sacramento rivers, Sutter prospered. Then gold was found. The workers on the estate left to look for gold. Every kind of adventurer squatted on Sutter's land. In four years he was ruined. For the rest of his life, Sutter petitioned the state and the federal government for aid. He died on June 18, 1880, at age 77, while the bill he sought was being argued in the House of Representatives. 
http://memory.loc.gov/ammem/today/jan24.html
    1857 - Birthday of Kate Harwood Waller Barrett (d. 1925), Stafford, VA.  American physician, president of the National Florence Crittenton Mission for unwed mothers from 1909 to her death. President of the National Council of Women in America, she was one of the first vocal advocates for the plight of lower-income women faced with the burden of raising a child alone. (Men in those days had no legal obligation to support their children.) 
    1862 – Birthday of prolific American writer Edith Wharton (d. 1937) was born in New York City. She went on to become the first woman to ever win the Pulitzer prize for her novel “The Age of Innocence,” in 1921. You can read Wharton's own impressions of her life in the autobiography “A Backward Glance.”  She also wrote “The House of Mirth.”
http://www.womenwriters.net/domesticgoddess/wharton1.htm 
http://www.npg.si.edu/exh/wharton/whar3.htm 
http://www.kirjasto.sci.fi/wharton.htm 
http://www.edithwharton.org/
    1865 - The exchange of prisoners of war was sporadic and one of the terrible occurrences of the war was the treatment of captured Union troops. Prisons such as Andersonville were common. The Confederate Congress agreed to continue prisoner exchanges, opening a process that had operated only sporadically for three years. In the first year of the war, prisoner exchanges were conducted primarily between field generals on an ad hoc basis. The Union was reluctant to enter any formal agreements, fearing that it would legitimize the Confederate government. But the issue became more important as the campaigns escalated in 1862. On July 2, 1862, Union General John Dix and Confederate General Daniel H. Hill reached an agreement. Under the Dix-Hill cartel, each soldier was assigned a value according to rank. For example, privates were worth another private, corporals and sergeants were worth two privates, lieutenants were worth three privates, etc. A commanding general was worth 60 privates. Under this system, thousands of soldiers were exchanged rather than languishing in prisons like those in Andersonville, Georgia, or Elmira, New York. The system was really a gentlemen's agreement, relying on the trust of each side. The system broke down in 1862 when Confederates refused to exchange black Union soldiers. The result of the breakdown was the swelling of prisoner-of-war camps in both North and South. The most notorious of all the camps was Andersonville, where one-third of the 46,000 Union troops incarcerated died of disease, exposure, or starvation. Though the prisoner exchanges resumed, the end of the war was so close that it did not make much difference.
    1899 - Humphrey O'Sullivan of Lowell, MA, made the first rubber shoe heel. On this date he received a patent for a “safety-heel.”
    1900 – National League officials held a secret meeting in Cleveland supposedly to discuss dropping the Baltimore, Cleveland, Louisville and Washington, DC franchises from the league roster. Indeed, the four teams will be contracted before the start of the season.
    1908 - The Boy Scouts movement begins in England with the publication of the first installment of Robert Baden-Powell's “Scouting for Boys.” The name Baden-Powell was already well known to many English boys, and thousands of them eagerly bought up the handbook. By the end of April, the serialization of “Scouting for Boys.” was completed, and scores of impromptu Boy Scout troops had sprung up across Britain. The American version of the Boy Scouts has its origins in an event that occurred in London in 1909. Chicago publisher William Boyce was lost in one of the city's classic fogs when a Boy Scout came to his aid. After guiding Boyce to his destination, the boy refused a tip, explaining that as a Boy Scout he would not accept payment for doing a good deed. This anonymous gesture inspired Boyce to organize several regional U.S. youth organizations, specifically the Woodcraft Indians and the Sons of Daniel Boone, into the Boy Scouts of America. Incorporated on February 8, 1910, the movement soon spread throughout the country. In 1912, Juliette Gordon Low founded the Girl Scouts of America in Savannah, Georgia. In 1916, Baden-Powell organized the Wolf Cubs, which caught on as the Cub Scouts in the United States, for boys under the age of 11. Four years later, the first international Boy Scout Jamboree was held in London, and Baden-Powell was acclaimed Chief Scout of the world. He died in 1941.
    1913 - In a story in the New York Times, Detroit Tigers President Frank Navin blamed the length of the games on the coaches' boxes. Navin, reacting to American League President Ban Johnson’s complaint that too many games the previous season had taken two hours to play, says the boxes should be moved back so that the catcher can give the pitcher his signals more quickly. From where they are now, he said, the coaching players can detect the catcher's signals unless he takes a lot of time to hide them. Navin said this slow signaling is the reason for the longer games.
    1915 – Birthday of Mark Goodson (d. 1992), producer and creator of TV game shows, at Sacramento, CA. His career in entertainment began in radio where he created the first game show, “Pop the Question.” He later teamed with Bill Todman and that partnership led to “What's My Line?,”  “I've Got a Secret,” “Password,” “The Price is Right” and “Family Feud.”
    1916 - John Beasley “Jack” Brickhouse (d. 1998) was born at Peoria, IL. A legend in Chicago broadcasting, Brickhouse was the play-by-play voice for the first baseball game televised by WGN, an exhibition game between the Cubs and the White Sox on Apr 16, 1948. He broadcasted Cubs games for 40 years, Chicago Bears games for 24 years and some Chicago Bulls and White Sox games. In 1983, he received the Ford C. Frick Award.
    1916 - The temperature at Browning, MT plunged 100 degrees in just 24 hours, from 44 degrees above zero to 56 degrees below zero. It was a record 24-hour temperature drop for the U.S.
    1917 - Denmark sells three of the Virgin Islands to USA for $25 million. During the 17th century, the archipelago was divided into two territorial units, one English and the other Danish. Sugar cane, produced by slave labor, drove the islands' economy during the 18th and early 19th centuries. The Danish portion had been in economic decline since the abolition of slavery in 1848. In 1980, the Virgin Islands Commission on Status and Federal Relations was created to educate the public on various political status options. A referendum was held in 1993 with only 10,710 or 31.4 percent of the 39,038 eligible voters participating which was below the 50 percent plus one needed. As a result, the Commission was disbanded on December 31, 1993.  Under legislation passed in 1968, the Virgin Islands has had a democratically elected form of government since 1970. Prior to 1970, the Governor of the Virgin Islands was appointed by the President of the United States and reported to the Secretary of the Interior under the territory's 1954 revised organic act.
http://www.odci.gov/cia/publications/factbook/geos/vq.html
    1920 - Birthday of saxophonist Jimmy Forrest (d. 1980), St. Louis, Mo.
http://www.allaboutjazz.com/reviews/r0799_16.htm
http://www.top10song.com/stars/03652-our-delightlive-at-barrel-12.html
http://www.52ndstreet.com/reviews/mainstream/grey_nighttrain.html
http://www.wmichjazz.org/
    1922 - -54ºF (-48ºC), Danbury WI (state record)
    1922 - Christian K. Nelson of Onawa, IA, obtained a patent for “Eskimo Pie.” The pie was an ice cream confection containing a normally liquid material frozen to a substantially hard state and encased in a chocolate covering to maintain its original form during handling. He originally called it an “I-Scream” Bar.”
http://desmoinesregister.com/extras/iowans/cnelson.html
    1924 - Birthday of pianist Joe Albany (d. 1988), Atlantic City, NJ.
http://www.musicweb.uk.net/encyclopaedia/a/A39.HTM
http://www.eclipse.net/~fitzgera/adavis/jalbany.htm
    1929 - Emily Dickinson poems found that had been hidden for forty years.
http://www.americanpoems.com/poets/emilydickinson/
http://www.cswnet.com/~erin/edbio.htm
http://www-unix.oit.umass.edu/~emilypg/index1.html
    1930 - During his American boxing debut, Primo Carnera knocked out Big Boy Patterson in one minute, ten seconds of the opening round before 20,000 people in New York City.
    1935 - Canned beer went on sale for the first time at Richmond, Virginia; Krueger Finest Beer.
http://www.bcca.com/bccacan1.html
http://www.breweriana.com/flats/flatkruegerfinestred.html
    1935 - Snowstorms hit the northeastern U.S. and the Pacific Northwest producing record 24 hour snowfall totals of 23 inches at Portland, ME and 52 inches at Winthrop, MA.
    1936 - Benny Goodman Band records “Stompin' at the Savoy” (Victor 25264). The song became such a standard that hundreds of artists have recorded it, including a vocal version by Barry Manilow. Goodman, the ‘King of Swing,' recorded the song at the Congress Hotel in Chicago, Illinois.
    1938 - Rock 'n' roll singer Jack Scott was born Giovanni Domenico Scafone, Jr., in Windsor, Ontario. He recorded several rockabilly numbers at the start of his career, but soon turned to a smoother ballad style on most of his records. "My True Love" was a big hit in 1958, and he scored a couple of years later with "What in the World's Come Over You" and "Burning Bridges."  He was the first white rock ‘n’ roll star to come out of Detroit, Michigan. He was inducted into Canadian Songwriters Hall of Fame in 2011 and has been called "undeniably the greatest Canadian rock and roll singer of all time.”
    1939 - Eddie Collins, Wee Willie Keeler and George Sisler were elected to the Baseball Hall of Fame. Sisler set a Major League season-record (later broken by Ichiro) with 257 hits in 1920 and batted .420 in 1922 on his way to a .340 career batting average. Collins batted an even .333 for his career and stole 744 bases as a member of four World Series Champions. Keeler, who "hit 'em where they ain't," batted .341 and collected 2,932 hits. He held the consecutive games hitting streak at 44 that was broken by Joe DiMaggio in 1941.
    1941 - Singer and songwriter Neil Diamond was born in Brooklyn, New York. He began in 1962 as a $50-a-week songwriter, and among the songs he churned out was "I'm a Believer," a hit for the Monkees in 1966, and later remade by Anne Murray. Diamond signed with Bang records in 1965, turning out a series of teen hits such as "Cherry Cherry" and "Kentucky Woman." At the end of the '60s, successes such as "Sweet Caroline" and later "Song Sung Blue" established him as a major star. He also sang at the Troubadour in Los Angeles in the, where I saw him perform.
http://www.neildiamond.net/
http://www.neildiamondhomepage.com/
    1941 - Birthday of singer, songwriter Aaron Neville, New Orleans, LA.
    1943 - At the end of the Casablanca Conference, Franklin D. Roosevelt and Winston Churchill held a press conference. Roosevelt stated, "Peace can come to the world only by the total elimination of German and Japanese war power. That means the unconditional surrender of Germany, Italy and Japan." This position calling for "unconditional surrender" has subsequently been criticized, mostly from his detractors, as having prolonged the war.   
    1944 – Top Hits
My Heart Tells Me - The Glen Gray Orchestra (vocal: Eugenie Baird) 
Shoo, Shoo, Baby - The Andrews Sisters 
My Ideal - The Jimmy Dorsey Orchestra (vocal: Bob Eberly) 
Pistol Packin' Mama - Bing Crosby & The Andrews Sisters
    1944 - HANSON, ROBERT MURRAY, Medal of Honor
Rank and organization: First Lieutenant, U.S. Marine Corps Reserve. Born: 4 February 1920, Lucknow, India. Accredited to: Massachusetts. Other Navy awards: Navy Cross, Air Medal. Citation: For conspicuous gallantry and intrepidity at the risk of his life and above and beyond the call of duty as fighter pilot attached to Marine Fighting Squadron 215 in action against enemy Japanese forces at Bougainville Island, 1 November 1943; and New Britain Island, 24 January 1944. Undeterred by fierce opposition and fearless in the face of overwhelming odds, 1st Lt. Hanson fought the Japanese boldly and with daring aggressiveness. On 1 November, while flying cover for our landing operations at Empress Augusta Bay, he dauntlessly attacked 6 enemy torpedo bombers, forcing them to jettison their bombs and destroying 1 Japanese plane during the action. Cut off from his division while deep in enemy territory during a high cover flight over Simpson Harbor on 24 January, 1st Lt. Hanson waged a lone and gallant battle against hostile interceptors as they were orbiting to attack our bombers and, striking with devastating fury, brought down 4 Zeroes and probably a fifth. Handling his plane superbly in both pursuit and attack measures, he was a master of individual air combat, accounting for a total of 25 Japanese aircraft in this theater of war. His great personal valor and invincible fighting spirit were in keeping with the highest traditions of the U.S. Naval Service. 
    1945 - PARRISH, LAVERNE, Medal of Honor
Rank and organization: Technician 4th Grade, U.S. Army, Medical Detachment, 161st Infantry, 25th Infantry Division. Place and date: Binalonan, Luzon, Philippine Islands, 18-24 January 1945. Entered service at: Ronan, Mont. Birth: Knox City, Mo. G.O. No.: 55, 13 July 1945. Citation: He was medical aid man with Company C during the fighting in Binalonan, Luzon, Philippine Islands. On the 18th, he observed 2 wounded men under enemy fire and immediately went to their rescue. After moving 1 to cover, he crossed 25 yards of open ground to administer aid to the second. In the early hours of the 24th, his company, crossing an open field near San Manuel, encountered intense enemy fire and was ordered to withdraw to the cover of a ditch. While treating the casualties, Technician Parrish observed 2 wounded still in the field. Without hesitation he left the ditch, crawled forward under enemy fire, and in 2 successive trips brought both men to safety. He next administered aid to 12 casualties in the same field, crossing and re-crossing the open area raked by hostile fire. Making successive trips, he then brought 3 wounded in to cover. After treating nearly all of the 37 casualties suffered by his company, he was mortally wounded by mortar fire, and shortly after was killed. The indomitable spirit, intrepidity, and gallantry of Technician Parrish saved many lives at the cost of his own. 
    1949 - Birthday of John Belushi (d. 1982), actor, comedian ("Saturday Night Live," “Animal House,” “The Blues Brothers,” “Jake Blues”) at Chicago, IL.
http://us.imdb.com/name/nm0000004/
http://www.bbring.com/
    1950 – Jackie Robinson signed a contract for $35,000, reportedly making him the highest-paid player in Brooklyn Dodgers team history.
    1952 – Top Hits
“Slowpoke” - Pee Wee King 
“Sin” (“It's No”) - Eddy Howard 
“Shrimp Boats” - Jo Stafford 
“Let Old Mother Nature Have Her Way” - Carl Smith
    1953 - Birthday of Olympic Gold Medal gymnast Mary Lou Retton, Fairmont, WV.
    1954 - The screen version of Herman Wouk's novel, “The Caine Mutiny,” starring Humphrey Bogart and Fred MacMurray, premiered in New York. Bogart was nominated as Best Actor by the Academy for his portrayal of Captain Queeg.
http://www.english.upenn.edu/~afilreis/50s/caine-mutiny-text.html
    1955 - Some say for the sake a building a television audience, the Official Rules Committee of Major League baseball announced a rule change to speed up the game. Pitchers are required to deliver a pitch within 30 seconds after having taken a position on the pitching rubber. Prior to the new ruling, pitchers could wait as long as they wanted before throwing.
    1956 - Thirty-eight inches of rain deluged the Kilauea Sugar Plantation of Hawaii in 24 hours, including twelve inches in just one hour. (state record)
    1960 – Top Hits
“Running Bear” - Johnny Preston 
“The Big Hurt” - Miss Toni Fisher 
“Go, Jimmy, Go” - Jimmy Clanton 
“El Paso” - Marty Robbins
    1960 - Johnny Preston hits Number One on the pop chart with "Running Bear," a song penned by the late J.P Richardson (alias the Big Bopper). Preston's smash will make it to Number One on the U.K. pop chart and #3 on the U.S. R&B chart.
    1961 - A B-52 bomber carrying two H-bombs broke up in mid-air over North Carolina. The uranium core of one weapon remains lost.
    1962 - Jackie Robinson became the first African-American to be elected to the Baseball Hall of Fame.
    1963 - A great arctic outbreak reached the southern U.S. The cold wave broke many records for duration of cold weather along the Gulf Coast. A reading of 15 degrees below zero at Nashville, TN was an all-time record low for that location
    1964 - CBS-TV got the rights to televise the National Football League's regular 1964-1965 season. The move cost CBS $14.1 million a year. The NFL stayed on CBS for 30 years.
    1964 - Jockey Willie Shoemaker beat Eddie Arcaro's career earnings record by riding four winners at California's Santa Anita race track. Shoemaker's total career earnings reached $30,040,005.
    1967 - Aretha Franklin recorded her first major hit, "I Never Loved a Man (The Way I Love You)," at Muscle Shoals, Alabama. But the LP on which she was working had to be finished later in New York because Franklin's husband got into an argument with one of the studio musicians. 
    1968 – Top Hits
“Judy in Disguise” (“With Glasses”) - John Fred & His Playboy Band 
“Chain of Fools” - Aretha Franklin 
“Green Tambourine” - The Lemon Pipers 
“Sing Me Back Home” - Merle Haggard
    1970 - Robert Moog introduced his "Mini-Moog" synthesizer, suitable for concert stages, and costing $2,000. The American Federation of Musicians considered banning the Mini-Moog, fearing that its ability to simulate acoustic instruments could put musicians out of work.
    1973 - ‘Little' Donny Osmond, of the Osmond Brothers/Family fame, was awarded a gold record for his album, "Too Young."
    1973 – Warren Spahn, the all-time winningest left-hander in Major League history, was elected to the Baseball Hall of Fame.  Spahn, in his first year of eligibility, was named on 316 out of a possible 380 ballots. He won a total of 363 games and won at least twenty games 13 times - the last at age 42 - during a 21-year major league career. His win total is 6th on the all-time list.
    1974 - Last Japanese soldier, a guerrilla operating in Philippines, surrenders, 29 years after World War II ended.
http://ns.gov.gu/scrollapplet/sergeant.html
http://www.amazon.com/exec/obidos/ASIN/0854682937/
avsearch-bkasin-20/104-4344982-0045565
    1976 – Top Hits
“Theme from Mahogany” (“Do You Know Where You're Going To”) - Diana Ross 
“Love Rollercoaster” - Ohio Players 
“Love to Love You Baby” - Donna Dummer 
“Convoy” - C.W. McCall 
    1977 - Howard T Ward becomes Georgia's first Black Superior Court Judge.
    1982 - The San Francisco 49ers won Super Bowl XVI by defeating the Cincinnati Bengals, 26-21. The 49ers sprinted to a 20-0 lead and had to scramble to hold off the Bengals who rallied for 21 points in the second half. Ray Wersching kicks a Super Bowl record-tying four field goals as the 49ers win their first NFL championship. Cincinnati's 356 yards of total offense to San Francisco's 275 marked the first time in Super Bowl history that the winning team was outgained in total yards. The Bengals also committed 4 turnovers to San Francisco's 1.  The game’s biggest play however came late in the third quarter when Cincinnati drove to the Niners 1-yard line.  On third down, 49ers linebacker Dan Bunz stuffed Charles Alexander at the line of scrimmage on an open-field tackle and kept him from reaching the end zone. After calling a timeout, rather than attempting a field goal on fourth down, the Bengals sent FB Pete Johnson into the middle of the line one last time. But San Francisco cornerback Ronnie Lott and linebackers Bunz and Hacksaw Reynolds tackled him for no gain, giving the ball back to the 49ers.  The first cold-weather Super Bowl, the game was played in the Pontiac, Michigan Silverdome. MVP: 49ers QB Joe Montana: 14 for 22, 157 yds, 1 TD; 6 carries-18 yds, 1 TD. Tickets: $40.00. The CBS telecast was viewed by 110.2 million fans and CBS radio counted 14 million listeners to its broadcast of the game.
http://images.nfl.com/history/images/0124.jpg
    1984 - The first Apple Macintoshes became available for a price of $2,495 on this day in 1984. Despite a frenzy of publicity, including a $500,000 commercial aired during the Super Bowl, the Mac failed to catch on immediately. In fact, it was not until Aldus introduced PageMaker, the first desktop publishing software, in mid-1985 that Macintosh sales took off. Eventually, the Macintosh transformed computing through its user-friendly graphics and use of the mouse. The machine also introduced small, hard, plastic disks that would replace the larger, flexible floppy disks used by personal computers at the time.
    1984 – Top Hits
“Owner of a Lonely Heart” - Yes 
“Karma Chameleon” - Culture Club 
“Talking in Your Sleep” - The Romantics
“In My Eyes” - John Conlee
    1987 - Temperatures in Minnesota plunged far below the zero mark. International Falls, MN reported a morning low of 35 degrees below zero, and Warroad, MN was the cold spot in the nation with a low of 45 below zero. A storm developing in northeastern Texas produced severe thunderstorms with large hail in Texas, Louisiana and Arkansas. Camden, AR reported golf ball size hail.
    1989 - Guild, the Rhode Island guitar company that made instruments for such stars as Elvis Presley and Johnny Cash, was sold to a Wisconsin amplifier manufacturer. The court-ordered sale to Randall Corporation followed two months of bankruptcy proceedings. Guild had been losing about $30,000 a month.
    1988 - San Francisco, California approves renaming 12 streets for local writers and artists, including Jack Kerouac alley. 
    1989 - First reported case of AIDS transmitted by heterosexual oral sex.
http://www.thebody.com/surveys/sexsurvey.html
http://forever.freeshell.org/dale/aids2.html
    1989 - The Rev. Barbara C. Harris, 55, of Boston, was confirmed as the first female bishop in the 450-year history of the Anglican Church.
    1990 - Winston-Salem State defeated Livingston 79-70, to give coach Clarence “Big House” Gaines the 800th victory of his college basketball coaching career.  His final coaching record:  828–447.
    1991 - World's largest oil spill was caused by embattled Iraqi forces in Kuwait during the Persian Gulf War. Iraq deliberately released an estimated 460 million gallons of crude oil into the Persian Gulf from tankers 10 mi off Kuwait on this day. Spill had little military significance. On Jan. 27, U.S. warplanes bombed pipe systems to stop the flow of oil.
http://www.gci.ch/GreenCrossPrograms/legacy/Kuwait/kuwait7years.html
http://www.hort.agri.umn.edu/h5015/99papers/kostreba.htm
http://www.factmonster.com/ipka/A0001451.html
    1992 - The producer of the New Kids on the Block album "Hangin' Tough" claimed the group performed only about 20 per cent of the music on it. Greg McPherson said the real voices behind the group were Michael Johnson and his brother Maurice Starr, the Kids' manager. The claims were in a suit filed by McPherson, who was seeking 21 million dollars for creative contributions and royalties. The allegations were denied by the New Kids, and McPherson dropped his lawsuit and withdrew his lip-synching claims three months later.
    1995 - A United States airman and his 10-year-old son given up for dead in snow-covered mountains in Turkey were found alive after living on snow for nine days.
    1995 - Van Halen releases their "Balance" LP. It would be the last album with lead singer Sammy Hagar
    1996 - The O.J. Simpson Trial opens. The ex-football player turned movie star and sports commentator is later found not guilty of the murder of his ex-wife and her boyfriend.
http://www.law.umkc.edu/faculty/projects/ftrials/
Simpson/Simpsonaccount.htm
    1996 - "Oh What a Feeling," a four-CD box set to celebrate the 25th anniversary of the Canadian Academy of Recording Arts and Sciences and the Juno Awards, was released. It would sell more than 250,000 copies in 75 days, raising about two million dollars for charity. 
    1998 - The soundtrack album from “Titanic” hit Number 1 on Billboard's charts and kept its top position for 15 weeks.
    1999 - Nobody was more surprised than baseball Hall of Famer Joe DiMaggio when he saw a television report that he had died. "He was livid," his lawyer and neighbor Morris Engelberg said. "Then I made him laugh. I said, 'Joe, we must be in heaven together.'" The two were watching a tape of Gunfight at the OK Corral - DiMaggio's favorite Western - at the baseball great's home in Hollywood, Florida. They happened to stop the tape just when the report appeared as a "crawl" across the screen during Dateline NBC. NBC ran another crawl about 20 minutes later, saying its previous report was inaccurate. The network later said a technician in the New York control room inadvertently sent the item. NBC delivered an apology to DiMaggio to Engelberg's office the next day, spokesman Cory Shields said. The 84-year-old DiMaggio was recovering from pneumonia and lung cancer surgery on Oct. 12, and already was upset by a story in the New York Daily News that described him as bedridden and in grave condition. Unfortunately, he died a few months later, on March 8, 1999, Hollywood, Florida
http://www.baseballhalloffame.org/hofers_and_honorees/
hofer_bios/dimaggio_joe.htm
    2003 – The Department of Homeland Security, now a cabinet-level position, began operations.  Tom Ridge is the first Secretary of Homeland Security.
    2012 - Apple, Inc. reported over 37 million iPhones and over 15 million iPads were sold during the 2011 fourth quarter; the company generated over $127 billion in revenue.

Super Bowl Champions:
    1982 - San Francisco 49ers
 During his 16 years as an NFL quarterback, Joe Montana won four Super Bowls and the respect of fans everywhere. His legendary tenure with the San Francisco 49ers through the 1980s will be remembered as one of the most dominating periods in professional sports. And unlike many of the great quarterbacks, Montana posted both the numbers and the big wins necessary to cement his place in the Hall of Fame. With coauthor Richard Weiner, Montana relates his special knowledge of the game in Joe Montana's Art and Magic of Quarterbacking, a treasury of instruction, anecdotes, and inside-the-huddle information that should earn the cheers of football fans and players everywhere.
In addition to instructional chapters on ball-handling, offensive and defensive formations, pass patterns, and conditioning, Montana also covers the more advanced aspects of playing quarterback, such as reading defenses and calling audibles. With examples right out of the 49er playbook, he dissects contemporary offenses and defenses, emphasizing his points with well-known plays and situations from his own storied career, including postseason classics such as "The Catch" and "The Drive." A winning combination of color action shots and chalkboard-style diagrams--plus memorable sidebar quotes from coaches and players--makes Joe Montana's Art and Magic of Quarterbacking an attractive and informative addition to the pigskin bookshelf. A foreword by John Madden ("I'll say it without any disclaimer. Joe Montana is the greatest quarterback who ever played the game.") and a brief concluding history of the game serve as bonus bookends.