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Wednesday, January 14, 2009
Faye Dunaway, Warren Beatty, "Bonnie & Clyde (1967)"
| Actress Faye Dunaway born January 14, 1941 Bascom, Florida; Oscar for "Network;" other movies "Bonnie and Clyde," "Chinatown," “Mommie Dearest,” “Three Days of the Condor.” http://movies.yahoo.com/movie/contributor/1800019684/bio |
Headlines---
IFC Credit, Morton Grove, Illinois
Bulletin Board Complaint
Classified Ads---Careerjet
ELFA Bentsen Presses for Leasing Industry Position
Menzel to Present Teichman Leasing News Award Las Vegas
Letters---We get eMail!!!
Classified Ads—Help Wanted
Sales makes it Happen by Linda P. Kester
“The Evolving Internet”
Texas AG Abbott Reaches Agreement With Dell
Classified ads—Finance / Human Resources
Nassau Asset Reports 2008 Repro’s
Docupace Helps NettWorth Financial Group
Citigroup Said to Consider Plan to Split in Two
Bonus Pool is Back at Citibank, Morgan Stanley
FDIC Faces $10 Billion hit on IndyMac
Dell to Pay $3.35 Million to Settle Suit
AIG still looking to sell aircraft leasing company
GM Plans to Eliminate Saturn, Saab, Hummer, Shrink Pontiac
PacLease Continues Record Growth
GM targets return to leasing in U.S. market
Nov. trade deficit plunges 29% to lowest level since '03
Fed report shows loan inequities
News Briefs---
You May have Missed---
Top Stories---
California Nuts Brief---
Sports Briefs---
"Gimme that Wine"
Today's Top Event in History
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”
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IFC Credit, Morton Grove, Illinois
Bulletin Board Complaint
Bill Berg-Hillinger Id Playground, Inc., Valencia, CA told Leasing News that IFC Credit, Morton Grove, Illinois had told vendor ProMax that they were unable to pay him for six months as they were out of funds. IFC Credit requested that the lessee make his next payment on the lease. He was told that the issue was between IFC Credit and the Vendor and did not concern him. He questioned whether the lease contract was fulfilled, who would be enforcing the warranty or helping in the matters, and he also believed the vendor could repossess the equipment as it was not paid for.
In response to the letter, he wrote:
"I have received your letter and fully understand my obligation toward payment to IFC. However, what assurances and proof do you have that this matter will be resolved quickly? Furthermore, what protection is IFC going to offer to me against repossession due to their failure to keep up their end of the lease agreement? I have every right, legally, to withhold payment to IFC should my equipment get repossessed due to their failure to keep up their end of the agreement.
"By law, ProMax has every right to repossess the equipment for non-payment. Yet all you are offering me are empty words and promises, that which, up to the point, IFC has failed to keep.
"So I ask you again, what assurances are you going to offer me?"
Copy of Letter
http://leasingnews.org/PDF/IFC_Letter_1_12_09.pdf
Leasing News sent an email and telephoned IFC Credit Public Relations Mike Beltrano as well as telephoned IFC Lead Beth Anne Alcantar, Senior Litigation Attorney for IFC Credit, as well as her assistant, but did not obtain a response.
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Classified Ads---Careerjet
New to the list of web sites that both employees and employers will find valuable.
Many will post for free.
Careerjet (www.careerjet.com), an employment search engine for the USA. In one simple search, Careerjet gives the job seeker access to a massive selection of jobs that are compiled from various internet sources, saving the trouble of having to visit each site individually.
Some of our embeddable tools might be of interest to you:
JobBox - see http://www.careerjet.com/partners/jobbox.html
SearchBox - see http://www.careerjet.com/partners/searchbox.html
accountingweb.careerbank.com
www.adams-inc.com
www.affinitysearch.com
www.aol.com
www.bajobs.com
www.BayJobs.com
www.careerbank.com
www.careerbuilder.com
www.careerpath.com
www.careerjet.com
www.careerjet.com
www.craigslist.org (available in many cities now, use scroll feature)
www.credittoday.com
ELFA Career Center
www.elaonline.com
www.FinanceLadder.com
www.goldenparachute.com
www.Headhunter.net
www.hotjobs.com
www.jobs.net
www.jobsearchusa.org
www.JobSpin.com
www.jobsinthemoney.com
www.leasingworld.co.uk
www.lessors.com
www.MarketingJobs.com
www.monitordaily.com
www.monster.com
www.monstertrak.monster.com/
www.Postonce.com
www.RecruiterConnection.com
www.resumeblaster.com
www.theleasebog.com
www.vault.com
www.vetjobs.com
www.worktree.com
www.worldleasingnews.com
For a full listing of all “job wanted” ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm
To place a free “job wanted” Leasing News ad:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm
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ELFA Bentsen Presses for Leasing Industry Position
H.R. 348 (TARP Reform and Accountability Act of 2009) is a fast-moving bill. Introduced on Jan. 9 by House Financial Services Committee Chair Barney Frank, the bill is now expected to reach the House floor for a vote this week.
The Equipment Leasing and Finance Association (ELFA) is asking that the new bill be expanded to include relief for providers of commercial loans including commercial equipment leases and loans. The commercial finance sector contributes about 4.5% to the GDP so the provision is aimed at stimulating the economy.
ELFA’s statement and in a letter from ELFA President Ken Bentsen to Chairman Barney Frank:
Equipment Leasing and Finance Association
Commends Chairman Frank re Proposed Legislation to Amend TARP; Requests Facilities be Established to Support Availability of Commercial Loans
January 13, 2009
In a letter, members of the Equipment Leasing and Finance Association (ELFA) commended House Financial Services Committee Chair Barney Frank on his leadership regarding the Troubled Assets Relief Program (TARP) and recommended certain changes under Title IV to include commercial loans including commercial equipment leases and loans.
Chairman Frank introduced the TARP REFORM AND ACCOUNTABILITY ACT OF 2009 (H.R. 348) January 9. (Bill available PDF at end of article. editor)
ELFA recommended that Title IV of the proposed legislation be amended to clarify the authority of the Department of Treasury and the Federal Reserve to establish facilities to support the availability of commercial loans (including leases, conduits and warehouse funding). ELFA also recommended the title clarify that an equipment lease or loan is deemed a customer loan under the Customer Obligation Federal Reserve Discount Window Collateral Requirements.
“We believe such amendments would provide both clarity and intent to allow us to develop workable facility to support the flow of credit into the commercial and equipment finance sector,” said ELFA President Kenneth E. Bentsen, Jr.
Copy of the letter sent by ELFA President Kenneth E. Bentsen Jr. to Chairman Frank:
January 9, 2009
Representative Barney Frank
Chairman
House Financial Services Committee
U.S. House of Representatives
2129 RHOB
Washington, D.C. 20515
Dear Mr. Chairman:
On behalf of the Equipment Leasing and Finance Association (“ELFA”)1, I am writing with respect to your proposed legislation to amend the Troubled Assets Relief Program (“TARP”). Our members commend your continued leadership on this matter and would like to recommend certain changes under Title IV to include the commercial loans including commercial equipment leases and loans.
ELFA’s membership includes a wide variety of entities that are engaged in the extension of commercial credit for the acquisition of capital goods – including commercial banks, investment banks, independent finance companies and finance subsidiaries of manufacturing companies. As you are well aware, investment in plant and equipment is a vital component of capital formation, economic growth and productivity. In 2007, businesses, governments and non-profit entities in the United States invested more $1 trillion in plant and equipment (including software).2 That figure is expected to decline in 2008 due to the economic recession and financial instability. Based on models developed for the Equipment Leasing & Finance Foundation, an affiliated research organization, approximately 55% of such investment is financed through leases and loans. 3 Furthermore, ELFA survey data indicate that in 2007, 45% of new equipment financed was originated through the bank channel, as compared to 31% through the independent finance company channel and 24% through the captive finance subsidiary channel.4
Throughout most of 2008, our monthly survey of equipment finance activity (the “MLFI-25”) indicated continued, albeit softening, demand for credit. However, beginning in the Q3 and continuing in Q4 the survey began to show a decline in new business volume with a steep drop of 33% in November alone. Further, the MLFI-25 indicates credit quality as showing signs of some deterioration yet far less severe than other asset classes. Delinquencies, while trending up, remain well below earlier periods of economic stress, as do charge offs. More importantly, however, members increasingly report that capital and liquidity constraints are resulting in fewer transactions being funded.5
Specifically, our members report that the fallout from the financial market crisis has stemmed the flow of capital into our sector. The public equipment finance ABS market that exceeded $9 billion in 2007 has declined to around $2 billion in 2008. More importantly, the bank conduit and warehouse-funding channel through which much of the bank and non-banking lending activity is funded has been greatly curtailed with banks either pulling out altogether or greatly increasing capital costs and requirements. Other funding sources, such as the medium term debt and commercial paper markets have also seized up. Some members, principally banks through their parent or companies that have converted to bank holding companies, have participated in the TARP Capital Purchase Program (“CPP”) and a few have reported freed up capital to lend into the equipment finance sector. There has also been limited use of the Federal Reserve’s Commercial Paper Funding Facility (“CPFF”) for conduit and warehouse financing although the term and rating requirements (A1/P1) have limited application. And, some non-bank members with grandfathered unitary thrift holding companies have been able to utilize the FDIC’s Temporary Liquidity Guaranty Program (“TLGP”). Non-bank entities, including some captive finance subsidiaries of large manufacturing companies, now find themselves either priced or locked out of the capital markets with insufficient credit availability. The long-term impact is a lack of sufficient credit for American businesses to invest in capital goods much to the detriment of the U.S. manufacturing sector and long-term economic growth.
ELFA and several of its member companies have had discussions with both the Department of Treasury and the Federal Reserve regarding the various programs established to address the crisis. We continue to discuss mechanisms that would provide credit support to commercial finance sector, including equipment finance, while maintaining sufficient regulatory oversight for taxpayer protection. As such, we recommend that you amend Title IV of your proposed legislation to clarify the authority of the Department of Treasury and the Federal Reserve to establish facilities to support the availability of commercial loans (including leases, conduits and warehouse funding). Further we would recommend that the title clarify that an equipment lease or loan is deemed a customer loan under the Customer Obligation Federal Reserve Discount Window Collateral Requirements. We believe such amendments would provide both clarity and intent to allow us to develop workable facility to support the flow of credit into the commercial and equipment finance sector.
I would appreciate the opportunity to discuss this matter in more detail with your staff. Please do not hesitate to contact me at 202-238-3410 if you have any questions.
With kindest personal regards,
Sincerely,
Ken Bentsen
1 The ELFA is the trade association that represents companies in the $650 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing the utilization and investment of and in capital goods. Our sector provides capital to business, government and non-profit sector for investment in capital plant and equipment. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. The ELFA has over 700 members including independent and captive lease and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers.
2 U.S. Department of Commerce
3 U.S. Equipment Finance Market, Equipment Leasing & Finance Foundation/Global Insight, 2007
4 2008 ELFA Survey of Equipment Finance Activity
5 ELFA Monthly Leasing and Finance Index 2008
Copy of Bill Proposed:
http://www.house.gov/apps/list/press/financialsvcs_dem/hr384.pdf
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Menzel to Present Teichman Leasing News Award Las Vegas
(sample artwork, not finished award)
Paul Menzel, CLP, first recipient of the Leasing News Person of the Year Award, 2005, will present Robert Teichman, CLP, the 2008 Award at the Las Vegas National Association of Equipment Leasing Broker Conference Business Conference Luncheon on May 1st, Las Vegas, Nevada.
Paul is president of Financial Pacific, Federal Way, Washington. He has been in the commercial equipment leasing industry, managing the same portfolio from his days at Puritan Leasing, for over 30 years and arranged the acquisition of the Leasing Division by Santa Barbara Bank & Trust in 1996 and then the sale to LEAF Corporation. He was named Leasing Person of the Year for 2005 by Leasing News. He is a former board member of the Equipment Leasing and Finance Association as well as the United Association of Equipment Leasing, also very active in his community. He is a Certified Lease Professional, a graduate of UC Berkeley and holds an MBA in Management.
Brochure: http://leasingnews.org/PDF/NAELB_Vegas09.pdf
Cost: 
To Register: http://www.naelb.org/cde.cfm?event=242260
Leasing News Person of the Year 2008:
http://www.leasingnews.org/archives/January%202009/01-05-09.htm#year
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(While the East is getting hit with a cold wave, California has been
experiencing warm weather. Saratoga the last few days has been
sunny, in the low 70’s, and Tuesday was 75. Kit Menkin.)
Letters!!!
(Basically chronological)
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“About time! Perhaps even better for Manufacturing if the ITC was for products produced in US.”
Diane "Dee" Price
35+ Years in Banking & Finance
Mortgage Financing -OR, WA
Equipment Lease Financing Nationwide
THE PRICE NETWORK
Oregon # 503-873-7634
Fax # 503-873-6760
Email: Pricenet@aol.com
--
“I believe this will work as described. Most in the industry now however probably never saw the affect of ITC as it went out with the Regan Administration, (I include myself in that group). An article on how this would affect the broker community would be an interesting read.”
Carl Villella
(Terry Winders, CLP, is working on the article. ed.)
“I was glad to see that the ELFA was suggesting use of the ITC to help stimulate equipment purchases. However, many companies will not get the full benefit of the ITC due to low or no taxable income this year. Therefore, I would suggest bringing back the Tax Benefit Transfer lease (TBT) that was effectively used as part of the 1980 tax act to help companies purchasing equipment monetize the ITC by a lessor transferring nominal ownership of the equipment (and the ITC) to highly profitable companies in return for a lowered monthly payment. The program worked great in the early 1980s (IBM paid no taxes because it entered into so many TBT transactions). Currently, the most likely companies to enter into TBTs would be the big oil companies. Provide TBT leases involving alternative energy equipment and it is a great way to make Big Oil help fund the implementation of alternative energy projects!”
Best regards,
Stan Fishbein
fishbein@capquestgroup.com
---
“Do you know of any kind of published statistic that shows what percentage of all equipment acquisitions are financed or leased? If so, can you please let me know the source? I've seen various statements that tell vendors that offering leasing will increase sales, but can\'t find a reputable, unbiased source - just various leasing companies\' web sites. Many thanks, and I always look forward to every issue of Leasing News!)”
Stephanie Norris
steph1008@ymail.com
(One of the things you need to understand is the dollar amount and type of equipment that the numbers are used for. It is common sense that copiers and IT equipment are high, as well as trucks and even airplanes.)
(I would recommend visiting several of the leading leasing company web sites and taking the information from their site.)
(ELFF has many studies on this, if you are looking for that kind of information. Many are free.)
(http://www.leasefoundation.org/ )
(If Prof. Johnson has the time, he might be able to refer you to other sources that I don't know about:
(jamesjohnson@niu.edu)
--
“You give me plenty, just by running the Leasing News. It’s a great resource that tells me things I don’t hear other places.
“Keep up the great work!”
Steve B
Stephen K. Ballou
Senior Vice President
Director Credit Risk Management
Citizens Financial Group
Business Banking Group
725 Canton Street
Mailstop MCN110
Norwood, MA 02062
--
“Though a little tardy, I wanted to add my congratulations to Bob Teichman, as Leasing Person of the Year! I have known Bob for almost 10 years and have worked with him on the UAEL (NEFA) Education Committee and the CLP Foundation. He has been a tireless worker and has provided training and expertise to many individuals in the industry sometimes at the expense of his own business. He was always the first one to raise his hand when we needed instructors, articles written and filming our latest group of videos.
“I have learned much from him and thank him for his contributions and service to the leasing industry.
“Congratulations Bob!!!”
Sincerely,
John Rosenlund
John G. Rosenlund, CLP
Chief Operating Officer
820 A Street Suite 560
Tacoma, WA 98402
Phone - 253.573.9600 ext. 14
Fax - 866.379.9700
jrosenlund@radiance-capital.com
---
Dona Flor and Her Two Husbands
http://www.leasingnews.org/archives/January%202009/01-09-09.htm#view
“Great to know this is on DVD. I saw this at an art theater in DC in the late 70’s when I was @ Finalco. The scene when the ghost appears in the bedroom when she is making love to the boring husband is a classic. I am going to get this one for my movie collection.”
Thanks,
Ray
Raymond J. Leone
Executive Vice President
HealthCapital, Inc.
195 Danbury Road
Wilton, CT 06897
--
Marine-Finance.Com Launches New Venture and Website
http://www.leasingnews.org/archives/January%202009/01-07-09.htm#mfc
“Thank you for the insertion. I have to tell you that I am very impressed at the scope of your readership. In addition to receiving many calls from folks in the industry, I was contacted by many former colleagues wishing me success.
“Thank you, again.”
Rich
Richard J. Paine, Sr.
Marine-Finance.Com
98 Lincoln Avenue
Island Park, NY 11558
516-431-9285
516-960-2779 (fax)
http://www.marine-finance.com/
(Normally Leasing News does not print "out and out" advertisements, but since this was such a niche, printing it would be to the benefit of readers. ed.)
--
Sales make it Happen—by Scott Wheeler
“Opportunities for all Leasing Professionals”
http://www.leasingnews.org/archives/January%202009/01-07-09.htm#sales
“WHAT A GREAT, UPLIFTING, INSIRPATIONAL MESSAGE IN LEASING NEWS ! THANK YOU – SEND A PRESS RELEASE TO CNN WILL YOU ? The media needs to screw it’s head on straight and start delivering the good news. I heard on CNN yesterday, as though it were the first time ever reported, that it is ‘official’ that the US economy is in a recession ! I was in a doctor’s office and had to ask the person next to me if they heard the same thing I did ! We both laughed !
“SPREAD THE WORD MAN – make your mark with your message !”
Regards,
Lisette Johnson
Cash Flow Crisis Prevention
Integra Leasing & Commercial Finance
804.622.0497 804.622.0498 fax 888.622.0497 toll free
LJohnson@IntegraLeasing.com
www.IntegraLeasing.com
--
Help Wanted Advertiser
“Just want to let you know that the position for the settlement specialist has been taken in late Dec. Thank you for the posting, it really helped us out with the quality of applicants. More importantly we found someone from your posting.
“I’m sure you will be getting an email soon from the person we hired.
I think you both know each other.”
Ofer Horn
Providence Capital Funding
T: 800.341.1288 Ext. 105
F: 714.986.1225
C: 951-237-1631
(It is Ken Goodman, CLP
kgoodman@providencecapitalfunding.com )
---
“I've written this recommendation of your work to share with other LinkedIn users.
“Details of the Recommendation: ‘Kit and his Leasing News is a beacon to the leasing industry for all of us. I am very impressed with the amount of material and the effort it must take for Kit to publish as much information as he does. I would recommend Kit to anyone without hesitation. Thanks for all that you do for us.’ "
Bob Stewart
---
“Excellent (edition)...We are in this all together and I hope things are better in 09. Keep up the great work and I think your work does much to keep all informed. I like that you don't candy cane anything. Tell it like it is is where it's at.”
Brian Sullivan
Accredit Capital Leasing Inc
300 Lackawanna Ave Suite 8
West Paterson N.J. 07424
Ph - 973-785-3518 ext-17
Fax-973-785-2466
www.accreditleasing.com
--
“I really enjoy your newsletter. Keep up the good work!!! “
Thanks, Brian
Brian Ofria
Antares Leasing Corporation
23341 Ostronic Drive
Woodland Hills, CA 91367
Tel: (818) 519-8258
Fax: (323) 313-0949
Email: briano@antaresleasing.com
--
Robert Duvall Birthday
“Shocked! I’m shocked with the absence of ‘Open Range.’”
Peter Grassl
Bowman & Marshall, Inc.
13424 West 70th Terrace
Shawnee Mission, KS 66216-2683
P: [913] 322-7190
F: [913] 322-7191
C:[913] 481-5469
www.BowmanMarshall.com
(Couldn't put all the movies into Robert Duvall birthday. ed)
(Actor/Director Robert Duvall born January 5, 1931, San Diego, California. Nominated six times for an Oscar, winning Best Actor in a Leading Role for: Tender Mercies (1983), other movies “Colors (1988),” perhaps remembered best as Tom Hagen in "The Godfather," and Lieutenant Colonel Kilgore in “Apocalypse Now” (1979); 93 movies. Also appeared in many TV shows such as “The F.B.I.," "Combat," "Naked City," "Outer Limits. He directed the critically acclaimed The Apostle, about a preacher on the run from the law, and Assassination Tango (2002), a thriller about one of his favorite hobbies, tango.)
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Leasing Industry Help Wanted
sales
 |
Like selling vendor programs and large transactions? CLICK HERE to find out how to have fun again. |
Please see our Job Wanted section for possible new employees.
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Sales Make it Happen --- Linda P. Kester
“The Evolving Internet” Think back to ten years ago. Did you have a web site? Were you marketing with email? Most likely you weren't. It took many leasing companies four to five years after the initial internet boom to get on-board. Do you want to be left behind again? We are at a new crossroads with the internet and it's Web 2.0. More lessees and vendors are Googling you before they consider doing business with you. You used to have 90 seconds to make a good first impression. Now your impression is made online BEFORE you get to meet someone. In the leasing industry it's critical for you to have a positive online reputation. Web 2.0 allows you to create your own profiles, comment on vendors and lessees sites, and to be a part of an online conversation. Here are five tips to get more out of Web 2.0
Now is the time to claim your space on the web and expand your internet footprint. Make sure you are using all the tools out there and if you find some "digital dirt" about you or your company, take the time to clean it up. Linda Kester helps leasing companies obtain more volume.
Top Ten Tips to Increase Leasing Sales
12 Core Fundamental Tips for the NEW Leasing Sales Professional Linda P. Kester's two others books , ""366 Marketing Tips for Equipment Leasing" and "12 Core Fundamental Tips for the NEW Leasing Sales Professional" are also available at: To Order, please go here: Sales Makes it Happen articles:
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Texas Attorney General Abbott Reaches Agreement With Dell
Dell Financial Services agrees to policy changes, consumer refunds
AUSTIN – Texas Attorney General Greg Abbott reached an agreement with Dell, Inc., that will lead to improved disclosures for customers who obtain financing through Dell Financial Services, L.P. Under today’s agreement, Dell will also change “Dell Preferred Account” enrollment policies, reform its warranty and rebate practices, and provide restitution to certain eligible customers.
Dell’s marketing materials encouraged customers to open Dell Preferred Accounts by promising “special promotional interest rates,” including no interest for three months. However, Preferred Accounts customers were not guaranteed to qualify for the promotional interest rates. As a result, some Preferred Accounts holders were charged higher interest rates than they anticipated.
According to customer complaints, Dell also failed to provide rebates within the promised timeframe. Additionally, some customers complained about Dell’s failure to fulfill warranty obligations, and said the company did not meet promised “next day” on-site repair or technical service agreements.
Today’s agreement resolves concerns over Dell’s advertising of special promotions for the Dell Preferred Account and other complaints facing Dell. In the future, Dell must clearly disclose the conditional nature of promotional offers and interest rates. Dell also is required to change its warranty-claims procedures, complete warranty service within 30 days and ensure customers are aware of their obligations to troubleshoot problems before receiving service. In addition, Dell must honor “next day service” promises.
Finally, Dell agreed to process rebates within 30 days of receiving completed rebate paperwork, if no other timeframe is provided to customers. Dell admitted no wrongdoing.
Texans who believe they incurred additional costs on or after April 1, 2005, because of the practices described above may be eligible for reimbursement under the agreement.
Texas consumers have until April 13, 2009 to complete a restitution claim form, which can be found at www.texasattorneygeneral.gov or by calling (800) 252-8011.
Dell has agreed to contribute $162,500 into a restitution fund for these claims and is reimbursing the state $62,500 for its attorneys’ fees and costs.
Texas consumers who believe they have encountered deceptive trade practices can contact the Office of the Attorney General at (800) 252-8011 or file a complaint online at www.texasattorneygeneral.gov.
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Classified ads—Finance / Human Resources
Leasing Industry Outsourcing
(Providing Services and Products)
Transaction Summary | The Lechner Group Website: www.tlgattorneycpa.com |
Finance: Naperville, IL Your guide to the right questions and answers in finance. Expert in capital raising, GAAP, acquisitions, lease economics. CPA. MBA. E-mail: m.willow@ameritech.net |
||
|
Finance: Charlotte, NC 15 Years of Equipment Leasing Experience and Recruiting with Business Aviation niche. Visit us at www.turningpointgrp.com E-mail: info@turningpointgrp.com |
Human Resource Consultant: New York, NY Employee Relations, Recruiting, Benefits, employee customer surveys, plus payroll administration "ON-LINE" services-- AND IN PERSON at your location Please visit: www.adviceonhr.com |
||
| Information System: North Detroit, MI INFOLEASE EXPERT - 18 years experience. Since being downsized in 2002, working as a consultant for several leasing companies. Seeking consulting projects nationwide. email: darwint@prodigy.net |
All "Outsourcing" Classified ads
(advertisers are both requested and responsible to keep their free ads up to date):
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm
How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm
 |
(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Scott Wheeler.)
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### Press Release ###########################
NasTrac Quarterly Index Shows Construction Equipment and
Machine Tool Repossessions Rising In 2008
Nassau Asset Management's Index Shows Medical Repos Also Up, Construction Equipment Repos Down From Previous Year
WESTBURY, NY, January 13, 2009 -- Repossessions and liquidations of machine tools rose by more than 150 percent in 2008 while construction equipment repossessions also increased as compared to 2007, according to Nassau Asset Management's NasTrac Quarterly Index (NQI). The figures, culled from the company's activity reports for both repossessions and orderly liquidations, show the slumping economy continues to have widespread effects on the construction, manufacturing and transportation industries.
Machine tool repossessions have undergone a steady and continuous increase since the third quarter of 2007, according to Nassau's records. Truck repossessions processed by Nassau declined in 2008 from a high point in 2007, but the 2008 totals represented a 50 percent increase from 2006 figures.
"In our experience a spike in the machine tool sector reflects the true economic condition," said Ed Castagna, president of Nassau Asset Management. It is clear that manufacturing demand is low, bringing more repossessed and off lease machine tools to the market."
"While it's impossible to predict the future, it does appear this trend will continue in 2009," Castagna added. "This is especially true if American automakers continue their struggles, with or without government assistance. It will also be important to see if U.S. exports decrease because of a rising dollar and if the construction market receives a boost from an injection of government-funded activity focused on improving the country's infrastructure."
Castagna concluded, "The credit market remains sluggish, and lenders are receiving mixed signals. The Federal Reserve weekly reports show an increase in commercial and industrial loans, but those loans are being used by large companies to meet their financing needs or to have cash on hand for the future. They are not being used to generate new business activity in the leasing sector and elsewhere."
"Therefore, it's not clear that the credit market has yet to begin supplying the relief needed by potential borrowers in the industrial markets. As a result, Nassau has seen a slight drop in a still strong buying climate among our customers who are struggling to maintain normal credit lines."
Trucking Repossessions and Liquidations
Repossession figures for trucks and tractor trailers declined by 25 percent in 2008 as compared to the previous year. The initial glut of trucks in the marketplace following the change in engines in 2006-2007 has now been absorbed. However the slow economy means there is still a high level of inventory which may yet increase due to difficult credit slowing down the entire food chain.
In the latest report from the U.S. Department of Transportation, its freight transportation services index (TSI) for October 2008 rose by 0.6 percent from September 2008, but the measure of month-to-month changes in the output of services provided by for-hire transportation industries declined 1.3 percent compared with October 2007's total.
The decline in freight transportation is not connected to fuel prices.
Prices have now dropped to lows not seen in the last 16 months.
Other Repo Trends
Nassau's latest NQI compares the company's internal repossession and orderly liquidation activity in 2008 with 2007. In addition to reporting on truck volume, the latest NQI revealed the following trends:
Construction Repos Increased Slightly - Construction equipment repossessions in 2008 rose by 11 percent from the totals for 2007. This sector has been struggling for some time now and a recent report by the federal government showed new home construction has now dropped to the lowest rate since 1959, the first year the government tracked this activity.
Based on this volume, Nassau predicts this trend will continue for at least the next six to 12 months, until the initiation of the infrastructure projects proposed by the Obama administration. In the interim, some weaker companies will not be able to survive until the infrastructure work commences. Prices are weakening as the international demand from the global economy slows.
The housing decline is now seemingly affecting the relatively healthy nonresidential-building and public-works markets. McGraw-Hill Construction is forecasting a 7.4% decline in construction starts in 2009, following declines of 12.4% this year and 8.0% in 2007.
The Architecture Billings Index, a forward-looking index of U.S.
nonresidential construction activity, fell in October to the lowest level in its 13-year history, according to the American Institute of Architects. Machine Tool Repos Increased Dramatically - Repossessions of machine tool equipment increased by more than 150 percent in 2008, as compared to 2007. This activity reflects ongoing trends in the manufacturing sector.
The last such increase in machine tool repos came during the last recession after 9/11. It will be important to mark the level of repossession activity before and after any major event within the automotive sector. If GM should file for chapter 11 bankruptcy protection, repossession activity will likely undergo a dramatic increase as the shock wave ripples through the non-GM contractors who are fed by GM.
Despite a recent positive report by the National Association of Manufacturers (NAM),
the Manufacturing Institute, and the Manufacturers Alliance/MAPI, that the U.S. is making progress toward controlling structural costs, such as labor, regulation and taxes, foreign manufacturers continue to enjoy an advantage in recent years over their domestic counterparts. If the positive trend continues, it could provide relief in the long term to these industries.
Meanwhile, scrap steel prices, which were at record highs only a few months ago, have recently dropped to the lowest levels in nearly five years. "This correlates directly with our NQI findings," said Castagna. "A spike in machine tool repos during the same time the price of steel goes down indicates manufacturing demand is low which is bringing more repossessed and off lease machine tools to the market. This was a trend we saw in the beginning of the last recession."
Medical Equipment Repos Increased From Q2 08 - Data in the NQI showed repossessions of medical equipment in 2008 increased by approximately 50 percent over 2007. In Nassau's experience, the healthcare industry is typically not affected by economic downturns; the current rise in recoveries can be attributed to equipment with applications for treatments not reimbursed by insurance. This would include equipment coming back from cosmetic or aesthetics practices.
In most cases these treatments are out of pocket expenses for the patient, and with most consumers now trying to cut back on non-essential expenses, many medical practices specializing in these treatments have been feeling the pinch.
About NQI
NQI reports on Nassau's internal repossession and orderly liquidation activity in a given quarter compared to the same quarter the previous year or to previous quarters in the same year. Readers should keep in mind that results must be viewed over several quarters to establish trends. Finance companies and industry analysts can also contract with Nassau to dig deeper into the numbers, determining the root causes for trends and researching specific equipment types. Companies can use their private reports created by Nassau to help mitigate risk in portfolios and/or provide useful economic indicators to their own clients.
ABOUT NASSAU
Nassau Asset Management of Westbury, NY, has been providing full-service asset management, including asset recovery, collections, remarketing, plant liquidations, and appraisals for more than 25 years to the equipment finance industry.
For more information, please visit www.nasset.com or call 1-800-4.NASSAU.
### Press Release ###########################
Docupace Helps NettWorth Financial Group Improve Efficiency with
Document Management and Digital Signature Integration
Los Angeles – – Docupace Technologies, Inc. a leading provider of document management and workflow solutions, today announced the NettWorth Financial Group has implemented the Docupace Document Management and Digital Signature Solution. NettWorth Financial Group serves more than 70 registered representatives across the United States.
NettWorth Financial Group sought a web based document management and workflow solution to simplify the process of capturing, storing, centralizing, organizing, and accessing information. Paper-based processes complicate workflow and cut into profit margins.
“Dealing with documents and information can be one of the most challenging aspects of any business. We have representatives across the country. It was important for us to select a web based system to help us improve our efficiency in virtually every aspect of our business process. Docupace will also be extremely beneficial from a compliance point of view, from a registered representative’s point of view, and from a cost point of view,” said Tricia Sullens of NettWorth Financial Group.
The Docupace solution is cost-effective and rapidly-deployed within an organization. In the past, documents were mailed in to the NettWorth Financial Group central processing office where they were then reviewed, signed off and scanned into Docupace for secure, legally compliant storage. Today, representatives and their staff in the local field offices now scan, obtain digital signatures and electronically file the images directly into the system. Documents are then flagged and routed for NettWorth’s supervisory team to review and electronically sign and stamp. Representatives can now view the status within the workflow on a real time basis.
“We are very pleased that NettWorth Financial Group, and many financial service firms like them, are rapidly taking advantage of the many benefits of Docupace,” said Tom Embrogno, General Manager of Financial Services Docupace Technologies, Inc. “Our ability to meet NettWorth Financial Group’s specific requirements highlights the proven scalability, flexibility and reliability of the Docupace solution. We look forward to working with NettWorth Financial Group and continuing to deliver the superior service that Docupace is known for throughout the financial services industry.”
###
About Docupace Technologies
Docupace Technologies provides a state-of-the-art, web based integrated suite including document imaging, electronic document management, workflow, and records management. Docupace serves a wide business spectrum including broker dealers, financial advisors, real estate, insurance and other organizations.
Docupace plays a vital role in helping companies of all sizes save money and improve productivity by managing the storage, organization and retrieval of relevant information through their simple desktop interface. For more information visit www.docupace.com
### Press Release ###########################
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 |
(This ad is a “trade” for the writing of this column. Opinions
contained in the column are those of Mr. Terry Winders, CLP)
News Briefs----
Citigroup Said to Consider Plan to Split in Two
http://www.nytimes.com/2009/01/14/business/14citi.html?_r=1&hp
Bonus Pool is Back at Citibank,Morgan Stanley
http://www.nypost.com/seven/01132009/business/bonus_pool_is_back_149888.htm
FDIC Faces $10 Billion hit on IndyMac
http://www.nypost.com/seven/01112009/business/fdic_faces_up_to_10b_whack_on
_indymac_lo_149620.htm
Dell to Pay $3.35 Million to Settle Suit
http://online.wsj.com/article/SB123178487574874177.html?mod=googlenews_wsj
AIG still looking to sell aircraft leasing company
http://www.usatoday.com/travel/flights/2009-01-12-aig-ilfc-aircraft_N.htm
http://www.katu.com/news/business/37442084.html
GM Plans to Eliminate Saturn, Saab, Hummer, Shrink Pontiac
http://usnews.rankingsandreviews.com/cars-trucks/daily-news/090112-GM-Plans-to-
Eliminate-Saturn-Saab-Hummer-Shrink-Pontiac/
PacLease Continues Record Growth
http://www.layover.com/news/article/paclease-continues-record-growth-14995.html
GM targets return to leasing in U.S. market
http://uk.reuters.com/article/marketsNewsUS/idUKN1249682620090112
Nov. trade deficit plunges 29% to lowest level since '03
http://www.usatoday.com/money/economy/2009-01-13-trade_N.htm
Fed report shows loan inequities
http://www.boston.com/business/articles/2009/01/13/fed_report_shows_loan_inequities/
Yahoo names tech veteran Carol Bartz as new CEO
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/13/AR2009011301652.html
---------------------------------------------------------------
You May have Missed---
Lobster business fishes for a lifeline
http://www.usatoday.com/money/industries/food/2009-01-12-lobsters_N.htm
----------------------------------------------------------------
Top Stories
These are the ten top stories chosen by readers as being the most read from the previous week:
http://www.leasingnews.org/archives/January%202009/01-12-09.htm#top10
Top Stories Archive:
http://www.leasingnews.org/Conscious-Top%20Stories/Ten_top_stories.htm
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 |
(Leasing News provides this ad “gratis” as a means
to help support the growth of Lease Police)
Sports Briefs----
Raiders: Lofton fired, others moving on
http://www.sfgate.com/cgi-bin/blogs/sfgate/detail?blogid=11&entry_id=34544
Mike Nolan Denver's defensive coordinator
http://www.denverpost.com/broncos/ci_11439140
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California Nuts Briefs---
Governor makes a grab for state school funds
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/13/MNS4159KA4.DTL
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“Gimme that Wine”
Wine Auctions Become a Buyer’s Market
http://www.nytimes.com/2009/01/14/dining/14pour.html?ref=dining
Cost Plus closing 26 stores (great wine prices)
http://www.pressdemocrat.com/article/20090110/BUSINESS/901100381/1036
Banker now owns five wineries
http://www.winespectator.com/Wine/Features/0,1197,4795,00.html
Lodi Winemakers doing well in economy with low price wine
http://www.recordnet.com/apps/pbcs.dll/article?AID=/20090111/A_BIZ/901100304/-1/A_LIFE
Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/
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Today's Top Event in History
1896-Carlo Ponzi immigrates to America from Italy on this day. The small-time con man would later stumble into one of the largest scams of all time and have an entire type of crime named after him: the "Ponzi scheme.” For 20 years, Ponzi bounced from job to job, always dreaming up a way to make millions but never coming close. But in 1919, he came up with a new plan. Ponzi told friends and potential investors that they would get a 50 percent return on their money within three months if they invested with him. The hapless investors were never told much about what Ponzi planned on doing with their money, but, when pressed, he told them that it had to do with international postal exchange coupons, an obscure field that virtually no one knew much about. Ponzi told his marks that they could cash out at the end of three months or roll over their investments. Ponzi promptly paid off his initial investors and soon the investment dollars were pouring in. Thousands of people came to his offices, where money was stuffed in every desk drawer and filing cabinet. Ponzi was taking in an estimated $200,000 a day at the frenzy's peak. When a local writer questioned Ponzi's financial record, he threatened to sue and scared off further inquiry. Ponzi went on a personal spending spree in 1920, buying 100 suits and 100 pairs of shoes. He also took $3 million in cash to the Hanover Trust Company and bought a controlling interest in the reputable firm. However, when state investigators finally began examining his books and interviewing his workers they found that there was no real investment going on. Of course, only the very early investors actually got any money back, and these funds came from later investors. Such a scam, known as a pyramid scheme, inevitably explodes, as it did on August 13, 1920, when thousands of investors demanded their money back. Ponzi, anticipating the collapse, had already taken $2 million to the Saratoga casinos in a vain attempt to make up the lost money. Ponzi went to jail and was deported to Italy in 1934. He told reporters, "I hope the world forgives me.” Perhaps taken in by his apparent contrition, Italian dictator Benito Mussolini gave Ponzi a high position in the government's financial sector. However, human nature is very difficult to change, and Ponzi eventually embezzled funds from the country's treasury and escaped to Brazil, where he died in 1949.
[headlines]
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This Day in American History
| 1639-The first formal declaration of American Democracy was the “fundamental orders,” drawn up by Roger Ludlow and adopted by representatives of Wethersfield, Windsow, and Hartford, Connecticut. It was a written body of laws by which they would govern themselves. It is considered the first constitution of colonial Connecticut, with the declaration “...the foundation of authority is in the free consent of the people.” Roger Ludlow was influenced by a sermon delivered May 31, 1638, by the Reverend Thomas Hooker at Hartford's Center Church. 1639-Connecticut colony organizes under Fundamental Orders http://odur.let.rug.nl/~usa/D/1601-1650/connecticut/orders.htm 1739-Birthday of William Whipple, American patriot and signer of the Declaration of Independence. Born at Kittery, ME, he died at Portsmouth, NH, Nov 10, 1785 http://www.williamwhipple.com/ http://www.colonialhall.com/whipple/whipple.asp http://www.whipple.org/docs/photos/moffat-ladd.html 1741-Birthday of Benedict Arnold, a revolutionary war hero, injured in battle, not happy with the French, deserted to the British during the war in trade for plans of West Point, which at the time was a major fortress guarding a major waterway and route of supplies. His name has since become synonymous with treachery. Born at Norwich, CT. Died June 14, 1801 at London, England. http://earlyamerica.com/review/fall97/arnold.html 1784-The Continental Congressratified the Treaty of Paris , officially establishing the United States as in independent and sovereign nation. http://memory.loc.gov/ammem/today/jan14.html 1794-Dr. Jesse Bennett of Edom, VA, performed the first successful Caesarean section. The patient was his wife. Bennett had asked Dr. Alexander Humphreys of Staunton, VA, to assist in performing the operation, but because of the low chance of success, Humphreys had declined. Dr. Bennett performed the operation with the assistance of two slaves, who held the patient. She was placed on a table made of two planks, load on a couple of barrels, and was given laudanum in lieu of an anesthetic. 1799-The first US Senator to be impeached was William Blount, the first senator from Tennessee, who was elected on August 2, 1796, and served from December 6, 1876, until July 8, 1797, when he was expelled. The trial was held form December 17, 1798 to January 14, 1799, when the vice president announced the decision of the High Court of Impeachment that the charges were dismissed for want of jurisdiction. Blount was accused of entering into a conspiracy with British officers to divert part of Louisiana from Spain to Great Britain,, “ a high misdemeanor, entirely inconsistent with his public trust and duty as a Senator.” While the case was in progress in Washington, DC, Blount was elected to serve in the Tennessee state senate, and at the opening session in 1798, was chosen to be its speaker. http://odur.let.rug.nl/~usa/B/blount/blount.htm http://www.unicover.com/EA6ABUXA.HTM http://www.blountweb.com/williamblount/ http://www.blountmansion.org/ http://www.ci.maryville.tn.us/cityhist/index.htm 1799- Eli Whitney receives government contract for 10,000 muskets http://www.eliwhitney.org/ew.htm 1806-Birthday of Matthew Fontaine Maury, Naval officer, born at Fredericksburg, VA. Maury established oceanography as a branch of science and revolutionized the recording of oceanographic data as a superintendent of the Naval Observatory. Died at Lexington, VA, Feb 1, 1873. 1863—Birthday of Richard Outcault, creator of the newspaper “funnies.” When Outcault was asked by the New York World's Sunday editor to submit drawings for use with their new process for printing color pictures, colored comics or “funny papers” were born. Outcault's first color drawing, titled “ Origin of a New Species” was published Nov 18,1894. The first regular colored strip, “Hogan's Alley,” drawn by Outcault, began appearing with its main character's blustery comments written across his nightshirt. It was Outcault's strip “Buster Brown” that brought him celebrity and fortune. Outcault was born at Lancaster, OH, and died Sept 25, 1929 at Flushing, NY. 1865--PALMER, WILLIAM J. Medal of Honor Rank and organization. Colonel, 15th Pennsylvania Cavalry. Place and date: At Red Hill, Ala., 14 January 1865. Entered service at. Philadelphia, Pa. Born. 16 September 1836, Leipsic, Kent County, Del. Date of issue. 24 February 1894. Citation: With less than 200 men, attacked and defeated a superior force of the enemy, capturing their fieldpiece and about 100 prisoners without losing a man. 1878- US Supreme court rules race separation on trains unconstitutional. On May 18,1896, the Supreme Court endorsed “separate but equal” racial segregation with its “Plessy versus Ferguson” decision, a ruling that was overturned 58 years later. http://www.landmarkcases.org/plessy/background3.html 1882 - Southern California's greatest snow occurred on this date. Fifteen inches blanketed San Bernardino, and even San Diego reported a trace of snow. 1896 – Birthday of American novelist John Dos Passos, (the U.S.A. trilogy), and later Cold War warrior, born Chicago. An integral part of the Lost Generation crowd in Paris in the 20s. His increasing fascism estranged him from most of his associates, including Hemingway, it is reported. His philosophy changed over his life from very liberal to conservative. He is still controversial today and his books very well read and discussed. He died in 1970. http://www.cyberonic.net/~danne1/dospassos/dospassos.html http://www.csupomona.edu/~rljohnson/Professional/DosPassos.html http://www.cyberonic.net/~danne1/dospassos/dospassosimages.html 1896-Carlo Ponzi immigrates to America from Italy on this day. The small-time con man would later stumble into one of the largest scams of all time and have an entire type of crime named after him: the "Ponzi scheme.” For 20 years, Ponzi bounced from job to job, always dreaming up a way to make millions but never coming close. But in 1919, he came up with a new plan. Ponzi told friends and potential investors that they would get a 50 percent return on their money within three months if they invested with him. The hapless investors were never told much about what Ponzi planned on doing with their money, but, when pressed, he told them that it had to do with international postal exchange coupons, an obscure field that virtually no one knew much about. Ponzi told his marks that they could cash out at the end of three months or roll over their investments. Ponzi promptly paid off his initial investors and soon the investment dollars were pouring in. Thousands of people came to his offices, where money was stuffed in every desk drawer and filing cabinet. Ponzi was taking in an estimated $200,000 a day at the frenzy's peak. When a local writer questioned Ponzi's financial record, he threatened to sue and scared off further inquiry. Ponzi went on a personal spending spree in 1920, buying 100 suits and 100 pairs of shoes. He also took $3 million in cash to the Hanover Trust Company and bought a controlling interest in the reputable firm. However, when state investigators finally began examining his books and interviewing his workers they found that there was no real investment going on. Of course, only the very early investors actually got any money back, and these funds came from later investors. Such a scam, known as a pyramid scheme, inevitably explodes, as it did on August 13, 1920, when thousands of investors demanded their money back. Ponzi, anticipating the collapse, had already taken $2 million to the Saratoga casinos in a vain attempt to make up the lost money. Ponzi went to jail and was deported to Italy in 1934. He told reporters, "I hope the world forgives me.” Perhaps taken in by his apparent contrition, Italian dictator Benito Mussolini gave Ponzi a high position in the government's financial sector. However, human nature is very difficult to change, and Ponzi eventually embezzled funds from the country's treasury and escaped to Brazil, where he died in 1949. 1910---Drummer Jimmy Crawford born Memphis, Tenn. With Jimmy Lunceford 1929-42, many bands. 1914 - Henry Ford announced the latest advance in the assembly line production of automobiles, the continuous motion method. This new concept decreased assembly time of a car from 12½ hours to http://www.time.com/time/time100/builder/profile/ford.html 93 minutes. http://www.hfmgv.org/ 1916-Birthday of African-American Novelist John Oliver Killens, born Macon, Georgia. died October 27, 1957, Brooklyn, New York. His novels And Then We Heard the Thunder and 'Sippi dramatized racism in the U.S. Army during World War II and the South during the voting rights struggles of the 1960s. Both And Then We Heard the Thunder and Killens's satirical novel about black class divisions, Cotillion, or One Good Bull Is Half the Herd , were nominated for the Pulitzer Prize for fiction. http://www.libs.uga.edu/gawriters/killens.html http://aalbc.com/authors/killens.htm 1916-Birthday of tenor sax player, arranger/producer Maxwell Davis, Independence, KS, died September 18, 1970, http://www.xtrememusician.com/info/artists/profiles/2946.html http://www.worldwidewax.com/hrecs/52/5212.htm 1917-Birthday of trumpeter Billy Butterfield http://www.musicweb.uk.net/encyclopaedia/b/B322.HTM http://www.landing.com/profiles/matteson.htm http://art.staviator.com/B/Billy_Butterfield.html 1919-Birthday of writer, columnist Andy Rooney, Albany, NY. http://www.quotationspage.com/quotes.php3?author=Andy+Rooney http://www.funny2.com/rooney.htm http://www.newseum.org/warstories/interviews/mp3/journalists/bio.asp?id=14 1919-Birthday of Shirley Jackson, American novelist and short story writer. Most famous story "The Lottery" (1949). 1919-Charles Stoneham, John McGraw and Francis X. McQuade bought the New York Giants from Charles Hempstead. The Stoneham family controlled the Giants for the next 56 years and moved them to San Francisco after the 1957 season. 1930- Canadian avant-garde jazz trumpeter and composer Kenny Wheeler was born in Toronto. He moved to England in 1952, rising to prominence in Britain in the 1960's and in the European avant-garde the following decade. From 1971 to '76, Wheeler performed with US reedman Anthony Braxton, with whom he often appeared in North America 1932-Brithday of drummer Grady Tate, Durham, NC http://www.drummerworld.com/drummers/Grady%20Tate.html http://www.cpcn.com/articles/012998/six1.shtml 1938 – Birthday of Jack Jones (John Allan Jones) (singer: Lollipops and Roses, Wives and Lovers, The Impossible Dream, Lady, The Race is On, Love Boat theme). His father was a very famous singer in the 1930's and early 1940's. http://www.interq.or.jp/jazz/jackjone/ http://www.jackjones.org/ 1938-Birthday of Allen Toussaint, born New Orleans, LA; one of the most important forces in New Orleans rock 'n' roll in the 1960's. Toussaint, a pianist, songwriter and arranger, played on some of Fats Domino's early recordings. And in the '60s, he produced and arranged such hits as "Ooh Poo Pah Doo" by Jesse Hill, "Mother-In-Law" by Ernie K-Doe and "I Like It Like That" by Chris Kenner. Allen Toussaint is also the composer of "Java," an instrumental hit for both trumpeter Al Hirt and pianist Floyd Cramer. 1940—Birthday of Julian Bond (legislator: Georgia [1965]; civil rights leader: helped found Student Nonviolent Coordinating Committee; chairman of NAACP board of directors) , born Nashville, TN. http://www.omega23.com/books/b/julianbond.html 1941 -- A. Philip Randolph, president of the Brotherhood of Sleeping Car Porters and chief spokesperson for the African American working class, calls for a March on Washington, demanding racial integration of the military and equal access to defense-industry jobs. The call prompts black enthusiasm too great for the government to ignore. On June 18th, less than two weeks before the march, Beloved and Respected Comrade Leader President Roosevelt invited Randolph to the White House. In the unpleasant confrontation, Randolph told Roosevelt he will abandon the march plans only if Roosevelt bars job discrimination in both the defense industry and government. Incredulous at Randolph's obstinacy, Roosevelt signed Executive Order 8802 [eighty-eight oh two], the government's most significant action on behalf of African Americans since post-Civil War reconstruction. http://www.apri.org/Bio-Rand1.htm http://www.aphiliprandolphmuseum.com/evo_history5.html http://www.pbs.org/weta/apr/aprbio.html http://www.pbs.org/weta/apr/ 1941 - Then head football coach of Massillon High School, Paul Brown, was named head coach of Ohio State's Buckeyes. In his seven years of high school competition, Brown's team only lost one game. http://massillonproud.com/massillon/mem2.htm http://massillonproud.com/fans/stadium.htm http://massillonproud.com/massillon/index.shtml 1943 - The Allies met in Casablanca to agree on a strategy for concluding World War II and to demand the unconditional surrender from the enemy. United States President Franklin D. Roosevelt became the first President of the United States to fly in an airplane while he was in office, when he flew from Miami, Florida to French Morocco. 1944-Birthday of guitar/accordian/zydeco Paul “Little Buck” Senegal, LA http://www.buckwheatzydeco.com/bwzydecoourstory/zydeco_20year.html 1947--Kenton Band records “Intermission Riff,” Capitol. 1947-Birthday of Gene Alden Washington, former football player, born Tuscaloosa, AL. 1949-The Department of Justice went trust busting on January 14 and filed an anti-trust suit against AT &T. The suit was designed to break AT& T's choke hold over the industry by forcing the company to relinquish ownership of Western Electric, a potent manufacturing concern. After much wrangling, the suit was settled in 1956, when AT&T consented to limit the scope of its business to the national phone network and government jobs. 1950---Top Hits Dear Hearts and Gentle People - Dinah Shore A Dreamer's Holiday - Perry Como The Old Master Painter - Snooky Lanson I Love You Because - Leon Payne 1951 - In Los Angeles, California, the first National Football League Pro Bowl All-Star Game was played. The American Conference beat the National Conference, 28-27. 1952- the Modern Jazz Quartet was formally incorporated, beginning a career that lasted more than 40 years. The group signed a unique partnership agreement stipulating that the quartet would have no leader. The original members were pianist John Lewis, vibraharpist Milt Jackson, bassist Percy Heath and drummer Kenny Clarke. The MJQ had only one personnel change in 42 years - Connie Kay replaced Clarke in 1955. 1952-“Today” Premiered on TV. The NBC program that started the morning news format we now have today. Captained by Dave Garroway, the show was segmented with bits and pieces of newes, sports, weather, interviews and other features that were repeated so that viewers did not have to stop their morning routine to watch. The segments were brief and to the point. Slyvester Weaver devised this concept to capitalize on television's unusual qualities. What used to take three hours to broadcast live across the country was done in two with videotape of a delayed basis. The addition of chimpanzee J. Fred Muggs in 1953 helped pus ratings up. There have been a number of hosts of the years, from John Chancellor and Hugh Downs to Tom Brokaw, Bryant Gumbel and Matt Lauer. Female hosts ( originally called, “ Today Girls” ) include Betsy Palmer, Florence Henderson Barbara Walters, Jane Pauley and Katie Couric. 1954 - Screen actress and sex symbol Marilyn Monroe, age 29, and New York Yankees baseball star Joe DiMaggio were married in San Francisco. Monroe later wrote in her autobiography, "That was something I had never planned on or dreamed about - becoming the wife of a great man. http://www.amctv.com/article/0,,1234-1--0-99-PST,00.html http://www.pbs.org/wgbh/amex/dimaggio/peopleevents/pande12.html 1954-Alan Freed, disc jockey of the popular radio show Rock 'n' Roll Party, produces his first rock and roll dance concert in New York at the St. Nicholas Arena. The Rock and Roll Ball featured the Drifters, Fats Domino, Joe Turner, and others. All the musicians were black, but at least half the audience packing the arena was white. Freed, who was also white, had been an influential force in popularizing rock and roll (then a synonym for rhythm and blues) since he started airing a radio show in Cleveland called Moondog House in 1951. The self-dubbed "King of the Moondoggers" (who actually preferred classical music) spoke to listeners as if they all belonged to a hip kingdom, united by their affinity for the same music. In 1952, he had thrown a rhythm and blues concert called the Moondog Coronation Ball, which drew more than 10,000 people. An angry mob, denied admittance once the arena was full, started a riot, and teens stormed the stage, abruptly ending the concert. Cleveland city officials accused him of "reckless disregard" for public safety, but the riot turned him into a local celebrity. Radio station WJW gave him nightly airtime for his program. The following year, he threw The Biggest Rhythm and Blues Show tour, featuring Ruth Brown and Wynonie Harris. The tour drew a largely black audience, but within just a few years rhythm and blues crossed over to become the dominant mainstream musical form. The Moondog had to stop using his popular moniker in 1954; he had borrowed it from the song "Moondog Symphony," recorded by a blind New York City street musician who won a court battle with Freed, which stripped Freed of the ability to use the name. Forced to find a new identity for his show, he decided to rename it Alan Freed's Rock and Roll Party . He copyrighted the phrase in partnership with black music legend Morris Levy, veteran promoter Lew Platt, and radio station WINS. But soon, the tidal wave of rock and roll made his copyright virtually useless; nevertheless, in 1955, Cleveland was selected as the site for construction of the Rock and Roll Museum because Freed had popularized the term there. 1955-Disc jockey Alan Freed begins his first New York area Rock & Roll Ball, a two night affair which is held at the Saint Nicholas Arena in Harlem. Both shows at the 6,000 seat arena are sold out in advance, bringing in $24,000. Those appearing on stage include Big Joe Turner, the Clovers, Fats Domino, the Moonglows, Drifters and the Harptones. 1956 - Rock ‘n' roller, Little Richard, sang the recently released, "Tutti-Frutti". The Pat Boone version of the song became more popular as it appealed more to white audiences http://www.littlerichard.com/ 1958---Top Hits At the Hop - Danny and The Juniors Stood Up/Waitin' in School - Ricky Nelson Kisses Sweeter Than Wine - Jimmie Rodgers Great Balls of Fire - Jerry Lee Lewis 1960-Elvis Presley is promoted to Sgt. in the U.S. Army, receiving a pay increase of $22.94 per month. 1963- Bob Dylan sat in on a recording session in London for an album by folk singers Richard Farina and Eric Von Schmidt. Dylan was billed as "Blind Boy Grunt." 1963 -- George Wallace sworn in as Governor of Alabama, his address states "segregation now; segregation tomorrow; segregation forever!". It was written by Asa Carter, the founder of a KKK terrorist organization. http://www.pbs.org/wgbh/amex/wallace/timeline/index_2.html 1964 – first hootenanny was held at the White House, as the New Christy Minstrels performed not only for President and Lady Bird Johnson, but also for Italy's President. 1966 -- March on Atlanta to protest ouster of Julian Bond, African American from Georgia House of Representatives, after his endorsement of SNCC statement critical of US involvement in Vietnam; basically he opposed the war in Viet Nam. Martin Luther King, Jr. spoke. “Injustice anywhere is a threat to justice everywhere. “ — Martin Luther King Jr. http://www.africana.com/Articles/tt_093.htm http://lists.village.virginia.edu/sixties/Graphics/ Bond/bond_comic_frame_06.GIF 1966- rock promoter Bill Graham leased the Fillmore Auditorium in San Francisco. The Fillmore became the prime venue for psychedelic rock in the late '60s 1966---Top Hits We Can Work It Out - The Beatles She's Just My Style - Gary Lewis and The Playboys Flowers on the Wall - The Statler Brothers Giddyup Go - Red Sovine 1966-David Jones changes his name to David Bowie to avoid confusion with Davy Jones from the Monkees, just in time for the release of his single, "Can't Help Thinking About Me". He would later say that he chose "Bowie" because he likes that "big American bear-killin' knife." 1967- Sonny and Cher release "The Beat Goes On" http://www.reallyrics.com/lyrics/S024800010004.asp 1967-The first "Human Be-In" is held in San Francisco's Golden Gate Park. Among the performers are The Grateful Dead and The Jefferson Airplane 1968-The Green Bay Packers won their second straight Super Bow, defeating the Oakland Raiders, 33-14. Packers quarterback Bart Starr completed 13 of 24 passes for 202 years and one touchdown and was named the game's Most Valuable Player. 1968-Rapper LL Cool J is born. 1968-Birthday of singer James Todd Smith ( L.L.Cool J ), St. Abans, Queens, New York. http://www.rollingstone.com/artists/bio.asp?oid=933andcf=933 http://www.llcoolj.com/ 1969-*WARREN, JOHN E., JR. Rank and organization: First Lieutenant, U.S. Army, Company C, 2d Battalion, (Mechanized), 22d Infantry, 25th Infantry Division. Place and date: Tay Ninh Province, Republic of Vietnam, 14 January 1969. Entered service at: New York, N.Y . Born: 16 November 1946, Brooklyn, N.Y. Citation: For conspicuous gallantry and intrepidity in action at the risk of his life above and beyond the call of duty. 1st Lt. Warren, distinguished himself at the cost of his life while serving as a platoon leader with Company C. While moving through a rubber plantation to reinforce another friendly unit, Company C came under intense fire from a well-fortified enemy force. Disregarding his safety, 1st Lt. Warren with several of his men began maneuvering through the hail of enemy fire toward the hostile positions. When he had come to within 6 feet of one of the enemy bunkers and was preparing to toss a hand grenade into it, an enemy grenade was suddenly thrown into the middle of his small group. Thinking only of his men, 1st Lt. Warren fell in the direction of the grenade, thus shielding those around him from the blast. His action, performed at the cost of his life, saved 3 men from serious or mortal injury. First Lt. Warren's ultimate action of sacrifice to save the lives of his men was in keeping with the highest traditions of the military service and reflects great credit on him, his unit, and the U.S. Army. 1970- Diana Ross performed for the last time with the Supremes at the Frontier Hotel in Las Vegas. The show began with a medley of hits and ended with "The Impossible Dream." 1972-“ Sanford and Son” premiered on TV. This NBC sitcom gained immediate popularity depicting an African American father and son engaged in the junkyard business. Norman Lear and Bud Yorkin developed the comedy series based on the British, “Steptoe and Son.” Comedian Redd Fox played Fred Sanford. His son, Lamont, was played by Demond Wilson. Others appearing on the show were Whitman Mayo as Grady, Slappy White as Melvin, LaWanda Page as Aunt Esther, Gregory Sierra as Julio. Nathaniel Taylor as Rollo, Raymond Allen as Uncle Woody, Don Bexley as Bubba Bexley, Lynn Hamilton as Donna Harris, aHoward Plat and Hal William as Hoppy and Smitty, Pat Morita as Ah Chew, Marlene Clark as Janet and Edward Craford as Roger. The last telecast was September 2,1977. 1973 - The Miami Dolphins became the first NFL team to go undefeated - a perfect season. They defeated the Washington Redskins 14-7 in Super Bowl VII. Tickets were $15.00. Kickoff time was 12:30 p.m. in the Los Angeles Memorial Coliseum. Miami finished the season 17-0. http://images.nfl.com/history/images/0114.jpg 1973 - Elvis Presley drew the largest audience for a single TV show to that time -- an estimated one billion viewers in 40 countries. "Elvis - Aloha From Hawaii", a live, worldwide concert from Honolulu International Center Arena. Performed at 12:30 a.m. Hawaiian Time, it was beamed live via Globecam Satellite to Australia, South Korea, Japan, Thailand, the Philippines, South Vietnam and other countries, and was seen on a delayed basis in approximately 30 European countries. The first American airing was April 4th on NBC-TV. The show was also released as a two-record album, and became one of Elvis's top-selling LPs. 1973- bass guitarist Phil Lesh of the Grateful Dead was arrested at his home in Fairfax, California on drug charges. 1974---Top Hits The Joker - Steve Miller Band Show and Tell - Al Wilson Smokin' in the Boys Room - Brownsville Station I Love - Tom T. Hall 1975-Joe Walsh is presented a Gold record for his third solo album, "So What". 1978-The Sex Pistols play their final gig at the Winterland Ballroom in San Francisco. The following day, Johnny Rotten (born John Lydon) will quit the band, effectively bringing their brief career to an end. 1979 - Chicago, IL, was in the midst of their second heaviest snow of record as, in thirty hours, the city was buried under 20.7 inches of snow. The twenty-nine inch snow cover following the storm was an all-time record for Chicago 1980- "Blues Brothers" movie with Dan Akroyd and John Belushi opens http://www.fast-rewind.com/ http://blues.squidly.org/ http://www.csse.monash.edu.au/~pringle/bluesbros/movie/trivia.html 1982---Top Hits Physical - Olivia Newton-John Waiting for a Girl Like You - Foreigner Let's Groove - Earth, Wind and Fire Fourteen Carat Mind - Gene Watson 1984- Madonna made her debut on "American Bandstand," singing "Holiday." 1986 - "Rambo: First Blood, Part II" broke the record set by "Ghostbusters", for first day orders, when it arrived at video stores. 435,000 copies of the video were sold, for a total of almost $21.4 million worth. 1989 - A winter storm spread snow and sleet and freezing rain from the Middle Mississippi Valley to the northeastern U.S. Freezing rain in West Virginia caused fifteen traffic accidents in just a few minutes west of Charleston. Tennessee was deluged with up to 7.5 inches of rain. Two inches of rain near Clarksville TN left water in the streets as high as car doors. 1990 - The pilot episode to launch the “The Simpsons” series on Fox was 7G02Bart the Genius . There was a test launch on December 17, 1989 and originally the show was seen in “shorts” on the Tracey Ullman Show. The originator of Homer, Marge, Bart, Lisa and Maggie is cartoonist Matt Groening. http://www.snpp.com/guides/lisa-2.html#2.3.1 http://www.snpp.com/lists.html 1990---Top Hits Another Day in Paradise - Phil Collins Pump Up the Jam - Technotronic featuring Felly How Am I Supposed to Live Without You - Michael Bolton It Ain't Nothin' - Keith Whitley 1997-The Beach Boys guest star on an episode of ABC-TV's Home Improvement. They played the cousins of 'Wilson', Tim 'The Tool Man' Taylor's next door neighbor and sang "Barbra Ann" with the show's cast. 1998- 100th episode of "Ellen" airs, starring Ellen DeGeneres http://www.geocities.com/Hollywood/1777/ http://www.jumptheshark.com Super Bowl Champions This Date 1968 Green Bay Packers |
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