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kitmenkin@leasingnews.org
   


Dallas-Fort Worth
Seasoned Leasing professional in Dallas-Fort Worth area, experienced in 3rd party generated business. Must be highly ethical, self starter with a good understanding of financials and able to produce immediately and consistently. Generous commissions paid and
benefits after initial trial period.

Please submit resume to ron.mitchell@bancleaseacceptance.com
Contact: Ron Mitchell 214-615-0667 direct


Monday, July 23, 2012



Today's Equipment Leasing Headlines

Archives July 23, 2007
  Parker Brothers get 20 and 11 years in Federal Prison
    (Famous Advance Fee Case)
      Classified Ads---Sales
  Career Crossroad
   "It's been 2 weeks since the interview."
    Classified Ads---Help Wanted
 Leasing 102 by Mr. Terry Winders, CLP
  “Vehicles Section 179 for 2012”
    Top Stories--July 16--July 20
  Chicago mortgage loans to undocumented immigrants
   2 Georgia, 2 Florida Banks also Fail
     Largest remaining TARP investments in banks & thrifts
     By Aarti Kanjani, SNL Financial
   Countries Where People Work Least
    12/7WallSt.com
   Fleet Financing Second Quarter Report
      German Shepherd/Retriever
       Irvine, California Adopt-a-Dog
     Classified Ads---Employment Web Sites
News Briefs---
  Asian stock markets slide on Europe, China woes

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

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

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



Please send Leasing News and ask them to subscribe. We are free! Send email to kitmenkin@leasingnews.org and put in subject line: subscribe

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Archives July 23, 2007
Parker Brothers get 20 and 11 years in Federal Prison
(Famous Advance Fee Case)


Leasing News had many "run ins" with the late founder of the company, Paul Parker. He started out advertising in USA Today perhaps since the paper started in 1982, offering to train those in his office for $5,000. Former students have said today it is a one person office with an answering service and the manual was a mimeograph. There were never any claims against his company in the Better Business Bureau.

(01/07/2007) Indicted: material misrepresentations to loan applicants to induce them to apply for commercial lease funding. As part of the loan process, the defendants required loan applicants to send advanced lease payments. The defendants, however, failed to deliver the promised funding, and then refused to return the victims' advanced lease payments.

July 23, 2007
Defendants Robert Parker, a/k/a Bob Parker, of Broward County, and Gary N. Parker, of Greenville, Tennessee, were sentenced today after being found guilty by a jury on May 17, 2007 in Miami, Florida on numerous charges involving an international advance fee scheme that included the purported financing and leasing of commercial equipment. Victims from all over the world lost approximately $4,000,000.

The defendants were convicted of all charges which included mail and wire fraud, money laundering and tax evasion. After conviction, the defendants agreed to a $4,000,000 judgment and to the forfeiture of four bank accounts that contained $206,976.20 as well as a residence in Greenville, Tennessee. Today, Chief United States District Judge Federico A. Moreno, sentenced Robert Parker to 135 months’ imprisonment followed by three years of supervised release, victim restitution in the amount of $1,824,137 and a special assessment in the amount of $4,400. Chief Judge Moreno, noting Gary N. Parker’s prior conviction for the same offense, sentenced him to 240 months’ imprisonment followed by three years of supervised release, victim restitution in the amount of $1,824,137 and a special assessment in the amount of $4,400.

According to the Superseding Indictment, the defendants operated Parker Leasing and Finance Service in Fort Lauderdale, Florida. According to the evidence presented at trial, Parker Leasing and Finance Service held itself out as a business engaged in the financing and leasing of commercial equipment, with millions of dollars available for loans. In fact, the defendants enriched themselves by making material misrepresentations to individuals to induce them to apply for commercial lease funding. Ultimately, the defendants failed to deliver on the promised funding and refused to return the victims’ advanced lease payments.

The Parkers were also convicted of conspiring to impede the lawful governmental functions of the Internal Revenue Service of the Treasury Department in the collection of federal income taxes. The evidence established that the defendants diverted the proceeds from the advanced fee scam to themselves using various bank accounts and then converted the proceeds to cash in order to conceal the amount of income they received. Defendant Bob Parker was also convicted of evading federal income tax due and owing by him for the years 2000, 2001, 2002, 2003, and 2004.

Mr. Acosta commended the investigative efforts of the Federal Bureau of Investigation, the Internal Revenue Service, and the Broward County Sheriff’s Office. The case was prosecuted by Assistant United States Attorney Thomas P. Lanigan and Department of Justice Tax Division Trial Attorney Mitchell Bober and William C. Healy of the Asset Forfeit Division of the United States Attorney’s Office.

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


 


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Classified Ads---Sales


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

California
Aggressive, competitive self-starter with vendor/direct equipment 
leasing and asset-based lending experience. Success in business banking sales and financial planning. 
Email: dsp559@hotmail.com | Resume

Garfield, NJ
15 years experience small to large ticket sales exp. All types of equipment industries. Vendor & direct. Self motivated. Work with leasing company or broker.
Tony Lio tonylio@optonline.net
Montgomery, AL
Individual with 10 years advertising sales exp. & 7 years insurance sales exp. Wants independent contractor situation in Alabama.
Work with leasing company or broker. 334-590-5133
E-mail: billmcneal2003@yahoo.com

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

Pittsburgh , PA 
Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592
mwiser500@hotmail.com

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

Texas/Oklahoma 
15 year lease vet looking for plact to take business.great references. all major equipment types. open to compensation. please contact if interested.
E-mail: bankingdallas@yahoo.com



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

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


 

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Career Crossroad
"It's been 2 weeks since the interview."


Question:
I applied for position and believe it went very well. The hiring manager has indicated his interest and intends to move to the next step, yet that was 2 weeks ago. How should I handle?

Answer:
There are many factors to consider when there is a delay in the hiring / interviewing process--- including factors that are beyond the hiring manager’s control. The best plan of action is to express your interest, but not seem desperate; follow up only one or two times (max). Once via phone, once via email. Just because you didn’t get an immediate offer does not mean your are not being considered. But definitely not more than what I have suggested.

In the meantime, continue your career search in case this particular opportunity does not pan out. However, if the other opportunity(s) comes to fruition and you are still interested in the initial opportunity, reach out once again to the hiring manager and advise that you have an offer on the table. You may relay that his/her company/opportunity is your first choice. Set a deadline, for e.g. I must give my answer by end of business Friday and would appreciate that status of the position I applied for – “either way; I appreciated the time we spent together, and if you have gone in a different direction, maybe we can re-connect in the future”.

Sometimes hiring managers find it difficult to let a good Candidate down or feel guilty of the time and effort you put into the interview process, so try to make them feel at ease. Most likely, they will reach back out and either advise you of the status of the role or make an offer.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Twitter: @RIIInfo
Invite me to Connect on LinkedIn & Follow RII on LinkedIn

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

 

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Leasing News Help Wanted

Dallas-Fort Worth
Seasoned Leasing professional in Dallas-Fort Worth area, experienced in 3rd party generated business. Must be highly ethical, self starter with a good understanding of financials and able to produce immediately and consistently. Generous commissions paid and
benefits after initial trial period.

Please submit resume to ron.mitchell@bancleaseacceptance.com
Contact: Ron Mitchell 214-615-0667 direct

 

Exp. only, 1 Southeast, 1 West Coast
Looking to Expand Your Career
Base Salary & Commission
resumes to : dmitchem@ifsc.com

www.ifsc.com
Stable, profitable independent lessor, 30 years in business,
Chicago suburbs

 

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

Please see our Job Wanted section for possible new employees.

 

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Leasing News Help Wanted Ad Pricing

Take Advantage of this Limited Offer!!!

 

25% Off regular rate below plus 30 day run

Help Wanted Web Ad New Programs

Classified Ad Section 

21 days in a row:
$595 four lines (a space is a line) 
($40 each additional line or space)

All you need do is send us the copy or the position description you want to fulfill and we do the rest. We will design the ad with the idea to fit you budget best, as well as recommend a “click to a web page” or seprate full page job description. Lines and spaces determine the price of the “help wanted ad” as the Logo is free as well as company description at the bottom of the ad (not to exceed the number of lines of the ad.) Also freeclick to a click to a web site or a full description of the position.

Ads are placed in the "Help Wanted' section by category, alphabetical, with the ad with the most lines first in the group. They appear on the web site and in each news edition at the top, not in flash, but in separate news editions. (The “help wanted” top ad are changed in each news edition in sequence with other “help wanted” ads, mostly in a chronological basis.) The ad always appears in the classified help wanted section in each news edition, plus remains on the web site, even when it appears at the top of the headlines.

Most readers scroll the newsletter, or those directly interested in classified, will click on the headline and go direct to the news edition classified help wanted section, or click on the web site, and go to it at this site.

Leasing News reserves the right to refuse advertising, particularly to a company that has appeared in the complaint bulletin board


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Leasing 102
by Mr. Terry Winders, CLP


“Vehicles Section 179 for 2012”

Essentially, Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if a company buys (or leases with a bargain purchase option) a piece of qualifying equipment, it can deduct the FULL PURCHASE PRICE from gross income. It's an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

Several years ago, Section 179 was often referred to as the "SUV Tax Loophole" or the "Hummer Deduction" because many businesses have used this tax code to write-off the purchase of qualifying vehicles at the time (like SUV's and Hummers). But, that particular benefit of Section 179 has been severely reduced in recent years.

Vehicles used in businesses qualify - but certain passenger vehicles have a total depreciation deduction limitation of $11,060, while other vehicles that by their nature are not likely to be used more than a minimal amount for personal purposes qualify for full Section 179 deduction.

Here are the general guidelines for using the Section 179 Deduction for vehicle purchases (full policy statement available at: IRS.gov ).

For passenger vehicles, trucks, and vans (not meeting the guidelines below), that are used more than 50% in a qualified business use, the total deduction for depreciation including both the Section 179 expense deduction as well as Bonus Depreciation is limited to $11,060 for cars and $11,160 for trucks and vans.

Exceptions include the following vehicles:

      • Ambulance or hearse used specifically in business

      • Taxis, transport vans, and other vehicles used to specifically transport people or property for hire;

      • Qualified non-personal use vehicles specifically modified for business (i.e. van without seating behind driver, permanent shelving installed, and exterior painted with company’s name)

Limits for SUVs or Crossover Vehicles with GVWR above 6,000lbs

Certain vehicles (with a gross vehicle weight rating above 6,000 lbs but no more than 14,000 lbs) qualify for expensing up to $25,000 if the vehicle is financed and placed in service prior to December 31 and meet other conditions.

Many vehicles that by their nature are not likely to be used for personal purposes qualify for full Section 179 deduction including the following vehicles:

1. Heavy “non-SUV” vehicles with a cargo area at least six feet in interior length (this area must not be easily accessible from the passenger area.) To give an example, many pickups with full-sized cargo beds will qualify (although some "extended cab" pickups may have beds that are too small to qualify).

2. Vehicles that can seat nine-plus passengers behind the driver's seat (i.e.: Hotel / Airport shuttle vans, etc.).

3. Vehicles with: (1) a fully-enclosed driver's compartment / cargo area, (2) no seating at all behind the driver's seat, and (3) no body section protruding more than 30 inches ahead of the leading edge of the windshield. In other words, a classic cargo van.

4. Vehicles can be new or used (“new to you” is the key).

5. The vehicle can be financed with certain leases and loans, or bought outright.

6. The vehicle in question must also be used for business at least 50% of the time - and these depreciation limits are reduced by the corresponding % of personal use if the vehicle is used for business less than 100% of the time.

7. Remember, you can only claim Section 179 in the tax year that the vehicle is "placed in service" - meaning when the vehicle is ready and available - even if you're not using the vehicle. Further, a vehicle first used for personal purposes doesn't qualify in a later year if its purpose changes to business.

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

He invites your questions and queries.

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

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

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

502.649.0488/Leaseconsulting@msn.com

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

 


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Top Stories--July 16--July 20


Here are the top ten sorties opened by readers

(1) New Bank Leasing Companies and others, too
by Christopher Menkin
http://leasingnews.org/archives/Jul2012/7_18.htm#new

(2) Shocker! Iowa Broker steals $100M over 20 yrs.
http://www.nypost.com/p/news/business/midwest_madoff_kvoEqLznaYxvKJn7FfYOcN

(3) New Aggregate Funding Process---and it connects!
by Christopher Menkin
http://leasingnews.org/archives/Jul2012/7_20.htm#new

(4) Dahlka & Team Back as Cole Taylor Equipment Finance
http://leasingnews.org/archives/Jul2012/7_16.htm#cole_taylor

(5) 10 Places to Look for Leasing Business
http://leasingnews.org/archives/Jul2012/7_16.htm#ten

(6) Archives July 18, 2000
Fisher-Anderson L.C. Validates CapitalStream.com
http://leasingnews.org/archives/Jul2012/7_18.htm#archives

(7) BSB Leasing Announces New Division
http://leasingnews.org/archives/Jul2012/7_20.htm#bsb

(8) Career Crossroad—
"...forced to state not fit for the position to get my check."
http://leasingnews.org/archives/Jul2012/7_16.htm#crossroad

(9) Equipment Leasing Plan Could Make Lessees Losers
http://www3.cfo.com/article/2012/7/gaap-ifrs_fasb-iasb-lease-accounting-equipment-leases

(10) Selling Up by Steve Chriest
"Predicting a Salesperson's Success"
http://leasingnews.org/archives/Jul2012/7_18.htm#sellin

 



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Chicago mortgage loans to undocumented immigrants
2 Georgia, 2 Florida Banks also Fail



The three branches of Second Federal Savings and Loan Association of Chicago, Chicago, Illinois were closed with Hinsdale Bank & Trust Company, Hinsdale, Illinois (Wintrust Financial Corporation), to assume all of the deposits. The bank was founded January 1, 1923 and had 62 full time employees as of March 31, 2012 at two offices in Chicago and one in Cicero. Year-end 2007, the bank had 97 full time employees.

Hinsdale Bank and Trust is part of the Wintrust Financial Corporation out of Lake Forest, Illinois, with 15 branches and 78 branches, all in Illinois, many from failed banks. This will increase the bank to 81 branches, if they keep all of them in this purchase.
http://www2.fdic.gov/idasp/main.asp

As of March 31, 2012, Second Federal Savings and Loan Association of Chicago had approximately $199.1 million in total assets and $175.9 million in total deposits. Hinsdale Bank & Trust Bank will pay the FDIC a premium of $100,000 to assume all of the deposits of the failed bank. In addition to assuming all of the deposits, Hinsdale Bank & Trust Company agreed to purchase approximately $14.2 million in assets, comprised mainly of cash. All loans, including consumer and mortgage, will be retained by the FDIC for later disposition. Loan customers should continue to make their payments as usual.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $76.9 million.

Second Federal Savings and Loan Association of Chicago had been citied several times. In 2008, the bank attempted to become a "minority institution," reportedly to widen its appeal to investors. As a mutual bank, Second Federal was owned by depositors. Three-fourths of its membership is Latino, but the problem was the bank's "board currently is not representative,” explained Francisco Menchaca, a Second Federal association member pushing for the lender to become a minority depository institution, or MDI.

In the last few years the bank became very much into mortgage loans, thinking the market would never end. They particularly gained notoriety in for making home loans to undocumented immigrants. When the housing market burst, many of the homeowners could not make the payments and the housing market found most of the houses underwater, overcharged by realtors selling to the Latino marketplace.

Year-end 2011 bank reportedly had $13.6 million in uncollected collected income from noncurrent loans.

Non-Current Loans (in millions)
2006 $2.0
2007 $2.0
2008 $11.2
2009 $21.7
2010 $12.9
2011 $13.6
3/31 $15.2

The bank directors were also taking care of themselves, as of year-end 2011 there were reported $203.5 million insider loans (they are insiders of the bank or the bank's affiliate exceeds the higher of $25,000 or 5 percent of member bank's unimpaired capital and unimpaired surplus and are generally director. The board of directors votes on these loans, except for the director asking for the loan.)

http://www.bankencyclopedia.com/Second-Federal-Savings-and-Loan-Association-of-Chicago-27986-Chicago-Illinois.html

March 23, 2009 cease and desist order appears too late
(http://files.ots.treas.gov/enforcement/97089.pdf as Note: the net equity dropped from $17.3 million) in 2009 to $9.8 million following a $10.3 million loss; all the problems seems to be in foreclosures of family residences.

http://files.ots.treas.gov/enforcement/97089.pdf

Tier 1 risk-based capital ratio 2.07% as of March 31, 2012.

Charge Offs
(in millions, unless otherwise)
2006 $42,000 ($42,000 1-4 family residential properties)
2007 $315,000 ($315,000 1-4 family residential properties)
2008 $1.6 ($1.6 1-4 family residential properties, $30,000 nonfarm/nonresidential)
2009 $9.5 ($8.9 1-4 family residential properties, $311,000 nonfarm/nonres., $300,000 multifamily)
2010 $6.0 ($6.0 1-4 family residential properties, $25,000 nonfarm nonresidential)
2011 $3.2 ($3.2 1-4 family residential properties)
3/31 $1.0 ($941,000 1-4 family residential, $62,000 multifamily, $44,000 nonfarm nonres.)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

Net Equity
2006 $29.3
2007 $29.5
2008 $27.7
2009 $17.3
2010 $9.8
2011 $4.0
3/31 $2.4

Profit
2006 $544,000
2007 -$48,000
2008 -$1.8
2009 -$10.3
2010 -$7.4
2011 -$5.9
3/31 -$1.5

Non-Current Loans
2006 $2.0
2007 $2.0
2008 $11.2
2009 $21.7
2010 $12.9
2011 $13.6
3/31 $15.2

http://www.fdic.gov/news/news/press/2012/pr12086.html

The two branches of Georgia Trust Bank, Buford, Georgia were closed with Community & Southern Bank, Atlanta, Georgia, to assume all of the deposits. Founded May 16, 2005 the bank had 20 full time employees at its offices in Buford and Kennesaw. Year-end 2007 they had 31 full time employees.

Not shown here is the total of Insider Loans of $126,495,000 that appears in "Bank:" http://www.bankencyclopedia.com/Georgia-Trust-Bank-57847-Buford-Georgia.html#ovGeneral

Tier 1 risk-based capital ratio 2.65%

(in millions, unless otherwise)

Net Equity
2006 $11.5
2007 $13.2
2008 $13.6
2009 $10.4
2010 $3.9
2011 $3.0
3/31 $2.1

Profit
2006 -$547,000
2007 $73,000
2008 -$2.4
2009 -$2.6
2010 -$6.5
2011 -$1.2
3/31 -$829,000

Non-Current Loans
2006 $1.1
2007 $1.7
2008 $2.6
2009 $17.0
2010 $14.9
2011 $16.7
3/31 $17.0

Charge Offs
2006 0 notoriety in recent years for making home loans to undocumented immigrants $250,000 ($350,000 construction/land development)
2008 $920,000 ($768,000 construction/land, $152,000 commercial/industrial)
2009 $722,000 ($461,000 $148,000 commercial/ind., $47,000 individuals0
2010 $2.3 ($981,000 commercial/ind., $526,000 construction, $473,000 nonfarm/nonres., $363,000
1-4 family, $22,000 individuals)
2011 $832,000 ($379,000 1-4 family, $235,000 commercial/industrial, $159,000 construction/land, $59,000 nonfarm/nonres.)
3/31 $94,000 ($66,000 1-4 family, $30,000 nonfarm, nonres.,-$1,000 construction/land, -$1,000 commercial)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

As of March 31, 2012, Georgia Trust Bank had approximately $119.8 million in total assets and $117.4 million in total deposits. Community & Southern Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of Georgia Trust Bank. In addition to assuming all of the deposits of the failed bank, Community & Southern Bank agreed to purchase approximately $111.5 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and Community & Southern Bank entered into a loss-share transaction on $65.9 million of Georgia Trust Bank's assets. Community & Southern Bank will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million

http://www.fdic.gov/news/news/press/2012/pr12083.html


The three branches of First Cherokee State Bank, Woodstock, Georgia were closed with Community & Southern Bank, Atlanta, Georgia, to assume all of the deposits. Founded November 27, 1989, the bank had 64 full time employees at its offices in Canton, Marietta, and Woodstock. The bank had 72 full time employees as of the end of 2007.

Tier 1 risk-based capital ratio 1.66%


Criticism about banking regulations in Georgia continue as the state again is leading the nation in bank foreclosures. In 2012, Georgia accounted for 25% of the nation's 92 banking failures and to date in 2012 now has eight, representing 22% of bank failures for this year.

To date, Community & Southern has acquired 7 of the failed banks since 2010, bringing it to having 33 branches across Georgia. the bank was originally formed to build a state wide banking enterprise by acquiring failed banks.


Again, the real estate market led to its demise:

(in millions, unless otherwise)
Charge Offs
2006 $68,000 ($40,000 construction/land, $47,000 individuals, -$18,000 1-4 family, -$1,000 commercial)
2007 $741,000 ($670,000 nonfarm/nonres., $34,000 construction, $38,000 individual, -$1,000 commercial)
2008 $4.8 ($4.7 construction/land, $52,000 individuals, $17,000 1-4 family)
2009 $4.1 ($3.9 construction/land, $113, 000 nonfarm/nonres, $25,000 $commercial, $16,000 1-4 family, $2,000 individuals)
2010 $5.0 ($4.9 construction/land, $32,000 nonfarm, $31,000 1-4 family, $10,000 individuals)
2011 $2.4 ($2.3 construction/land, $128,000 1-4 family, $25,000 individuals, $15,000 nonfarm/nonres.)
3/31 0 ($30,000 construction/land, -$98,000 1-4 family, -$4,000 individuals)
Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

Net Equity
2006 $29.0
2007 $29.0
2008 $17.3
2009 $11.0
2010 $10.1
2011 $4.9
3/31 $2.7

Profit
2006 $7.4
2007 $4.6
2008 -$11.3
2009 -$11.5
2010 -$5.3
2011 -$7.9
3/31 -$2.2

Non-Current Loans
2006 $271,000
2007 $5.3
2008 $12.9
2009 $27.2
2010 $18.2
2011 $14.9
3/31 $13.4


As of March 31, 2012, First Cherokee State Bank had approximately $222.7 million in total assets and $193.3 million in total deposits. Community & Southern Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of First Cherokee State Bank. In addition to assuming all of the deposits of the failed bank, Community & Southern Bank agreed to purchase essentially all of the failed bank's assets.

The FDIC and Community & Southern Bank entered into a loss-share transaction on $141.8 million of First Cherokee State Bank's assets. Community & Southern Bank will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.9 million.
http://www.fdic.gov/news/news/press/2012/pr12084.html


The three branches of The Royal Palm Bank of Florida, Naples, Florida were closed with First National Bank of the Gulf Coast, Naples, Florida, to assume all of the deposits. Founded December 17, 2001, the bank had 28 full time employees at Fort Myers, Marco Island, and Naples. In 2007, the bank had 37 full time employees.

Tier 1 risk-based capital ratio 2.02%

In addition, the two branches of Heartland Bank, Leawood, Kansas were closed (see article that follows.) Royal Palm Bank and Heartland Bank were affiliates of the Company. Mercantile Bank in Quincy, Illinois, is a separate, Illinois state-chartered banking institution. Although Mercantile Bank, Royal Palm Bank and Heartland Bank were all owned by the Company, each is a separate entity and each is separately operated. Mercantile itself has received regulatory comments and has agreed to a consent order.
(http://www.wgem.com/Global/story.asp?S=14446565)

The charge offs as well as the nonconforming loans at Royal Palm Bank of Florida are indicative of the real estate market in Florida:

(in millions, unless otherwise)
Charge Offs
2006 0
2007 $545,000 ($284,000 construction/land development, $261,000 1-4 family homes)
2008 $3.7 ($1.8 construciton/land, $924,000 commercial/ind., $690,000 1-4 family, $250,000 nonfarm, $5,000 individuals)
2009 $13.7 ($6.9 1-4 family, $4.3 construction/land, $1.8 nonfarm nonres, $694,000 commercial/ind.)
2010 $6.9 ($2.7 construction/land, $2 1-4 family, $997, commercial/ind., $734,000 nonfarm nonres.)
2011 $4.3 ($3.2 construction/land, $587,000 commercial/ind., $417,000 nonfarm nonres, $22,000 1-4 fam.)
3/31 $495,000 ($319,000 1-4 family, $154,000 nonfarm nonres, $22,000 construction/land dev.)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

The bank also had a high number of "insider loans," they are insiders of the bank or the bank's affiliate exceeds the higher of $25,000 or 5 percent of member bank's unimpaired capital and unimpaired surplus and are generally director. The board of directors votes on these loans, except for the director asking for the loan.

Net Equity
2006 $41.3
2007 $42.00
2008 $40.3
2009 $13.6
2010 $2.3
2011 $2.1
3/31 $1.2

Profit
2006 $147,000
2007 $561,000
2008 -$7.0
2009 -$41.4
2010 -$12.7
2011 -$2.8
3/31 -$878,000

Non-Current Loans
2006 $2.7
2007 $2.7
2008 $11.7
2009 $14.9
2010 $15.9
2011 $8.7
3/31 $8.5

As of March 31, 2012, The Royal Palm Bank of Florida had approximately $87.0 million in total assets and $85.1 million in total deposits. In addition to assuming all of the deposits of the failed bank, First National Bank of the Gulf Coast agreed to purchase essentially all of the failed bank's assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.5 million.

http://www.fdic.gov/news/news/press/2012/pr12082.html


The two branches of Heartland Bank, Leawood, Kansas, were closed with Metcalf Bank, Lees Summit, Missouri, to assume all of the deposits. Founded January 1, 1904, the bank had 14 employees at its office in Leawood, opened 1/1/1904, and Kansas City, opened 12/29/2006. In 2007, the bank had 35 full time employees and was active in real estate loans, which lead to both Royal Palm Bank of Florida and Leadwood, Kansas demise.

The bank also had a high number of "insider loans," they are insiders of the bank or the bank's affiliate exceeds the higher of $25,000 or 5 percent of member bank's unimpaired capital and unimpaired surplus and are generally director. The board of directors votes on these loans, except for the director asking for the loan.

Tier 1 risk-based capital ratio 2.89% as of March 31, 2012.

(in millions, unless otherwise)
Charge Offs
2006 0
2007 0
2008 $2.0 ($2.0 construction/land, $87,000 commercial/industrial)
2009 $5.4 ($4.5 construction/land, $379,000 other loans, $229,000 commercial/industrial, $130,000 nonfarm/nonindustrial, $80,000 1-4 family homes)
2010 $7.8 ($3.5 loans to depository institutions, $1.8 other loans, $1.7 construction/land, $401,0001-4 family, $300,000 nonfarm/nonres.)
2011 $2.8 ($1.3 commercial/industrial, $402,000 other loans, $915,000 commercial/ind., $281,000 1-4 fam.)

Construction and Land, 1-4 family multiple residential, Multiple Family Residential, Non-Farm Non-Residential loans.

Net Equity
2006 $15.2
2007 $18.3
2008 $17.1
2009 $18.1
2010 $6.0
2011 $2.4
3/31 $2.0

Profit
2006 $1.8
2007 $1.4
2008 -$2.5
2009 -$3.5
2010 -$13.0
2011 -$3.5
3/31 -$375,000

Non-Current Loans
2006 0
2007 $6.7
2008 $14.0
2009 $11.7
2010 $9.6
2011 $2.5
3/31 $4.1

As of March 31, 2012, Heartland Bank had approximately $110.0 million in total assets and $102.6 million in total deposits. Metcalf Bank will pay the FDIC a premium of 1.11 percent to assume all of the deposits of Heartland Bank. In addition to assuming all of the deposits of the failed bank, Metcalf Bank agreed to purchase essentially all of the failed bank's assets.

The FDIC and Metcalf Bank entered into a loss-share transaction on $54.3 million of Heartland Bank's assets. Metcalf Bank will share in the losses on the asset pools covered under the loss-share agreement.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.1 million.

http://www.fdic.gov/news/news/press/2012/pr12085.html

List of Bank Failures:
http://www.fdic.gov/bank/individual/failed/banklist.html

Bank Beat:
http://www.leasingnews.org/Conscious-Top%20Stories/Bank_Beat.htm

 



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Largest remaining TARP investments in banks & thrifts

By Aarti Kanjani, SNL Financial


Of the 50 largest publicly traded banks and thrifts, five companies still have TARP outstanding: Flagstar Bancorp Inc., M&T Bank Corp., Popular Inc., Synovus Financial Corp. and Zions Bancorp.

The Treasury holds its largest outstanding TARP investment in Columbus, Ga.-based Synovus Financial Corp. (The ranking excludes American International Group Inc. and Ally Financial Inc., which SNL Financial classifies as an insurance writer and a specialty lender, respectively.)

Synovus received $967.87 million in TARP, and as of July 11, the entire value remains outstanding. Following Synovus, Hato Rey, Puerto Rico-based Popular Inc. has $935 million to be redeemed, and Salt Lake City-based Zions Bancorp. has $700 million remaining to be paid off.


The U.S. Treasury introduced the Capital Purchase Program, or CPP, under the Troubled Asset Relief Program in October 2008 to support banks by investing in special preferred stock or debt. Now, the Treasury is planning to unwind the program through a series of auctions of the preferred stock. With this, many banks see an unofficial TARP repayment deadline approaching. Also, the dividend rate on the preferred shares jumps to 9% from 5% in the sixth year of investment, which will substantially increase the cost of those shares to the issuers.

Zions is planning to repay TARP in full within 2012, as per its capital plan, CFO Doyle Arnold said during an investor conference May 30. The bank already redeemed $700 million, or 50%, of TARP preferred stock from the Treasury near the end of March. On June 11, it announced plans to offer $200 million of senior notes via an auction facilitated by Zions Direct Inc. as auction agent. It plans to use the net cash proceeds from the offering for general corporate purposes, which may include the redemption of the remaining Series D Preferred Stock held by the Treasury or the redemption of its senior floating rate notes due June 21.

Speaking during an April conference call, M&T Bank CFO René Jones noted that M&T has repaid $700 million in TARP funding so far in connection with mergers, more than the $600 million it originally received under the program. However, the company's acquisitions of Provident Bankshares Corp. and Wilmington Trust Corp. added more TARP preferred stock onto its balance sheet. Also included among the institutions initiating the plans of repaying TARP is Cathay General Bancorp, ranked as the seventh-largest TARP holder. It hopes to initiate the process of repaying TARP funds in the third quarter, possibly in full during the period from September to November.

Laredo, Texas-based International Bancshares Corp. partially redeemed the $216 million investment it received under TARP, according to a Form 8-K filed July 11. The company is planning to redeem the remaining outstanding TARP investment of $176 million, by mid-2013. It ranks as the tenth-largest TARP holder.

According to a report by the Treasury July 9, the government has recovered $264 billion from TARP's bank programs through repayments, dividends, interest, and other income, compared to the $245 billion initially invested. Treasury has remaining outstanding CPP investments in 325 banks.

The Treasury has already held three rounds of auctions and said July 9 that it is planning another round to sell several preferred stock and subordinated debt securities in 12 banks. Four of these are publicly traded: Exchange Bank, Marquette National Corp., First Community Financial Partners Inc. and Premier Financial Bancorp Inc. These institutions hold TARP outstanding of about $45.2 million, $37.3 million, $23.1 million and $22.3 million, respectively.

A few companies are also readying themselves for TARP auctions. Many of the TARP-participating banks are required to have a current registration in place for the resale of preferred shares, per their agreement with the Treasury. United Community Banks Inc. recently re-registered its TARP shares. CEO Jimmy Tallent disclosed in a press release that the re-registration was issued as part of its obligation with the Treasury. United Community holds TARP investment of $180 million, the ninth-largest publicly traded TARP holder. Another TARP registration was made by Yadkin Valley Financial Corp. on April 12, of about $49.3 million in TARP shares.


Why Choose Advanced Property Tax Compliance?

Dedicated to the leasing industry
click here to learn more.

Hear What Our Clients say about us
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Gary DiLillo, President 440.871.0555 or gary@avptc.com

 

 

 

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Countries Where People Work Least

12/7WallSt.com


10.
United Kingdom
Average annual hours per person: 1,611
Average working hours per week: 31
Average wage per hour: $31.27 (11th highest)
2011 unemployment rate: 8%


9.
Finland
Average annual hours per person: 1,578
Average working hours per week: 30.3
Average wage per hour: $33.63 (9th highest)
2011 unemployment rate: 7.9%

8.
Luxembourg
Average annual hours per person: 1,565
Average working hours per week: 30.1
Average wage per hour: $46.78 (2nd highest)
2011 unemployment rate: 4.9%

7.
Denmark
Average annual hours per person: 1,496
Average working hours per week: 28.8
Average wage per hour: $48.82 (the highest)
2011 unemployment rate: 7.7%

6.
Ireland
Average annual hours per person: 1,469
Average working hours per week: 28.3
Average wage per hour: $45.53 (3rd highest)
2011 unemployment rate: 14.6%

 

5.
Belgium
Average annual hours per person: 1,446
Average working hours per week: 27.8
Average wage per hour: $38.90 (5th highest)
2011 unemployment rate: 7.2%

4.
Austria
Average annual hours per person: 1,431
Average working hours per week: 27.5
Average wage per hour: $36.63 (6th highest)
2011 unemployment rate: 4.2%

3.
France
Average annual hours per person: 1,392
Average working hours per week: 26.8
Average wage per hour: $34.26 (8th highest)
2011 unemployment rate: 9.3%


2.
Netherlands
Average annual hours per person: 1,336
Average working hours per week: 25.7
Average wage per hour: $42.67 (4th highest)
2011 unemployment: 4.4%

1.

Germany
Average annual hours per person: 1,330
Average working hours per week: 25.6
Average wage per hour: $35.33 (7th highest)
2011 unemployment: 6.6%

Full Story: Countries Where People Work Least
http://247wallst.com/2012/07/18/countries-where-people-work-least/2/

 




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

Fleet Financing Resources Provides $5.8MM
in Facilities for June and Reports Q2 Earnings


Riverside, California, – Fleet Financing Resources, LLC. (“FFR”), reports record month in June providing $5.8 million in lease and finance facilities for titled transportation equipment ranging from new/used school buses and limousines to trucks and motor coaches.

Additionally FFR reports, for the first six months of 2012 compared to 2011, total sales up 26%, net income is up 15% and total financed volume increased 38%.

Commenting on earning increase, president and chief executive officer Dave Reynolds said, “credit quality trends continues to show improvement in the second quarter, with reductions in both recovery and inventory; portfolio delinquency is at its lowest since early 2009. Our focus on delivering results the right way, which withstood the toughest economic climate in decades, is now showing its strength in a time of growth.”

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

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

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German Shepher/Retriever
Irvine, California Adopt-a-Dog




Grace
ID#4651833
Female
Age: Puppy
Size: Med (26-60lbs)

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

Please contact Adoption (ocdogs@coastalgsr.org) for more information about this pet

Grace’s Story:

The G pups had a very rough start to life! At 5 weeks old they were picked up by animal control and ended up in a high kill animal shelter. The entire litter of TEN was rescued and placed into foster care. They have been hand raised for the past 3 weeks and are now ready to go to homes!”

Once you have seen a dog of interest, please visit www.coastalgsr.org to obtain more information about our dogs - the Coastal GS site is more updated with photos & information. Click on available dogs to see further descriptions. Once you want to start forward with possible adoption, please fill out our online application. Upon receipt a volunteer will typically be in touch within 24 - 48 hours

The minimum adoption donation ranges from $300 to $400. This amount only partially covers the cost of veterinary care, boarding fees, and other miscellaneous expenses involved in the temporary care and adoption of our dogs and is 100% tax deductible.

Prior to placement, all dogs will be spayed or neutered, receive current vaccinations, and are usually microchipped. If not, arrangements will be made on an individual basis. Special consideration may be given to those willing to adopt older dogs or dogs with physical problems.

Our adoption process begins with completing an application on-line. A phone screening will soon follow, and lastly a home visit will be conducted by our volunteers.

We show our dogs at adoption events every weekend! Please click on Events to see where we'll be next! Coastal German Shepherd Rescue of Southern California is a non-profit 501(c)3 public charity dedicated to finding loving homes for abandoned German Shepherds. Your tax deductible donations go to support these very deserving animals. Coastal was formed to serve communities in the counties of San Diego, Orange, Los Angeles and the Inland Empire. We are committed to finding loving permanent homes for the orphaned dogs in our care. Coastal is an all volunteer, no-kill, 501 (c) 3 non profit organization.

Contact This Rescue Group..

Rescue Group: Coastal German Shepherd Rescue
Pet ID #: 4651833
Contact: Beth Calder
Phone: (714) 528-4730
Let 'em know you saw "Grace" on Adopt-a-Pet.com!
E-mail: admin@coastalgsr.org
Let 'em know you saw "Grace" on Adopt-a-Pet.com!
Fax: (949) 645-2414
Website: http://www.coastalgsr.org
Address: P.O. Box 50726
Irvine, CA 92619
Help this Rescue Group by making a donation.

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

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

 



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Classified Ads---Employment Web Sites

Here is a list of top internet job web sites, several specializing in financial, money, and leasing, too.

www.adams-inc.com
www.affinitysearch.com
www.bajobs.com
www.careerbank.com
www.careerbuilder.com 
www.careerpath.com
www.careerjet.com
www.craigslist.org
ELFA Career Center
www.employmentcrossing.com 
www.FinanceLadder.com 
http://www.findhow.com/
www.hotjobs.com
www.Hound.com 
www.indeed.com
www.jobs.net
www.jobs-applications.com
www.jobssearchengine.net
www.jobsearchusa.org 
www.JobSpin.com
www.jobsinthemoney.com
www.ladders.com
www.leasingworld.co.uk
www.lessors.com
www.LinkUp.com
www.MarketingJobs.com
www.monitordaily.com
www.monster.com
www.monstertrak.monster.com/ 
www.Postonce.com 
www.RecruiterConnection.com
www.resumeblaster.com
www.snagajob.com/part-time-jobs/ 
www.toplanguagejobs.com 
www.vault.com
www.vetjobs.com
www.worktree.com
www.worldleasingnews.com



 


• Contract Negotiations • Fraud Investigations
• Credit Investigations • Skip-tracing
• Third-party Commercial Collections
John Kenny
Receivables Management

For flat fee or commissions basis

john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

 



News Briefs----

Asian stock markets slide on Europe, China woes
http://hosted.ap.org/dynamic/stories/W/WORLD_MARKETS?SITE=AP&SECTION=
HOME&TEMPLATE=DEFAULT&CTIME=2012-07-23-00-15-25

 



[headlines]

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You May Have Missed---

World's rich hide at least $21T offshore
http://www.cbsnews.com/8301-500395_162-57477527/report-worlds-rich-hide-at-least-$21t-offshore/





[headlines]

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SparkPeople--Live Healthier and Longer


SparkPeople--Live Healthier and Longer

How Do Sorbet and Sherbet Compare?
http://www.dailyspark.com/blog.asp?post=food_showdown_how_do_sorbet_and_sherbet_compare


 


[headlines]

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Sports Briefs----

 

Wiggins Becomes First Briton to Win Tour
http://www.nytimes.com/2012/07/23/sports/bradley-wiggins-becomes-first-briton-to-win-tour-de-france.html?_r=1&ref=sports

In Scott’s Fall, Shades of Norman at the ’96 Masters
http://www.nytimes.com/2012/07/23/sports/golf/2012-british-open-adam-scotts-collapse-recalls-one-by-greg-norman.html?ref=sports



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Baseball Poem

WHAT DOES HE KEEP IN HIS BAG?

The slugger keeps something in his bag,
The dark green canvas one that he lugs
To practices and games alike, carrying
His glove separately and his cap on his head
And his cleats already laced tightly.
There is something else that he keeps
In the bag that sits with him on the bench,
That he places carefully in the corner
When he takes the field and checks it
First when he clomps back in.

Everyone has seen him unzip
The long zipper across the top and
Reach inside for something, then pull
His huge hand back without powder
On it or anything sticky. When
Whatever it is moves around, it does
Not create the bulging straight lines
Of books or notebooks. From the way
He carries the bag, it does not appear
To be heavy; in fact, several players
Have discreetly checked the weight,
Jiggling it like a Christmas present.

The slugger is friendly, even to rookies,
And earns his magnanimous salary
Over and over, but he has this green
Canvas bag with something in it
That worries us all.

Written by Tim Peeler
“Waiting for Godot's First Pitch”
More Poems from Baseball
Published by McFarland and Company

 

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California Nuts Briefs---

Hidden California state parks funds spark outrage
http://www.sacbee.com/2012/07/21/4646682/hidden-parks-funds-spark-outrage.html

SF Bay Area home prices hit four-year high in June
http://business-news.thestreet.com/mercury-news/story/bay-area-home-prices-hit-four-year-high-june-0/1





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“Gimme that Wine”

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


Sonoma State students turn grapes into wine
http://rohnertpark.towns.pressdemocrat.com/2012/07/news/sonoma-state-students-turn-grapes-into-wine/

Oregon Pinot Plans to Dazzle the GoldenState
http://www.winebusiness.com/news/?go=getArticle&dataid=103292

Wine grape crop poised for record sales
http://westernfarmpress.com/grapes/wine-grape-crop-poised-record-sales


 

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

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

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

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

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

[headlines]
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This Day in History

        1637 -- King Charles of England hands over the American colony of Massachusetts to Sir Fernando Gorges, one of the founders of the Council of New England. 
    1664 – Four British ships arrived in Boston to drive the Dutch out of NY.
    1788 - A weather diary kept by George Washington recorded that the center of a hurricane passed directly over his Mount Vernon home. The hurricane crossed eastern North Carolina and Virginia before moving into the Central Appalachians. Norfolk, VA, reported houses destroyed, trees uprooted, and crops leveled to the ground.
    1829-William Austin Burt of Mount Vernon, Michigan, patented the first typewriter on July 23, 1829. The design of the keyboard was changed several times without much thought, but the most common was the one designed basically so you could use the keys on one line to type out “typewriter.”
http://www.michmarkers.com/Pages/S0570.htm
    1827-The first swimming school in the US opened at Boston, MA. Its pupils included John Quincy Adams and James Audubon.
    1846--Commodore Sloat turned command over to Robert F. Stockton at Monterey because of ill health. Commodore Stockton's grandfather was a signer of the Declaration of Independence.
    1850-Congregation Emanu-el founded in San Francisco.
    1852- First burial in the new National Cemetery at the Presidio of San Francisco.
    1865--William Booth founds the Salvation Army in England. 1885- Ulysses S. Grant died at 63 and was buried this day in a mausoleum on Riverside Drive, New York City, overlooking the Hudson River. The funeral of Gen. Grant was designated a day of national mourning. The body was taken to New York City on a special train shrouded in black curtains. The former president lay in state at City Hall, where citizens who wished to pay their last respects gathered in a line a mile long Day and night for two days the mourners filed past. The funeral procession to the tomb was enormous and people packed the sidewalks and rooftops along its route.
http://www.nps.gov/gegr/
http://starship.python.net/crew/manus/Presidents/usg/usgobit.html
http://gi.grolier.com/presidents/nbk/bios/18pgran.html
http://saints.css.edu/mkelsey/facts.html
    1885-the first state banking association was the Texas Bankers’ Association, which was organized at Lampasas, TX, with an initial membership of 31. The first president was James Francis Miller.
    1886- A 23 year-old unemployed Irish immigrant Stephen Brodie was pulled from the East River, claiming that he had just jumped off the Brooklyn Bridge. The newspapers of the day headlined his survival. Although Brodie was unable to produce any objective witnesses to say he had performed the feat---he was accused of having his friends drop a dummy from the bridge while he slipped unnoticed into the water from the riverbank---the newspapers made him famous. In 1894, he starred in a play called “On the Bowery,” during which he rescued the heroine by jumping off a bridge built onstage.
    1888-Birthday of one of my favorite authors: Raymond Chandler. He
did not start writing until later in his life, publishing his first novel, The big Sleep. It brought him fame and to Hollywood with his detective character Philip Marlowe, a Los Angels private eye who liked “liquor and women and chess and a few others things.” Chandler was known for spare prose that featured gripping similes: “The wet air was as cold as the ashes of love” or “She had eyes like strange sin.” He authored and co-authored several Hollywood screen plays, as well as had a popular detective cartoon series. Born at Chicago, IL, Chandler died at Lo Jolla, CA, on March 26, 1959. Perhaps one of the best books about Chandler is “The Long Embrace: Raymond Chandler and the Woman he Loved” by Judith Freeman. Perhaps you need to be a fan to really appreciate this book, which I am.
    1903-The first two-cylinder Ford Model A was delivered to its owner, Dr. Ernst Pfenning of Chicago, on this day in 1903. The Model A was the result of a partnership between Henry Ford and Detroit coal merchant Alexander Malcomson. Ford had met Malcomson while working at Edison Illuminating Company: Malcomson sold him coal. The Model A, designed primarily by Ford’s assistant C. Harold Wills, was the affordable runabout that Ford needed to begin marketing his company’s stock.
In the next year Ford raised enough stock to release a line of cars and to incorporate as the Ford Motor Company. The company was capitalized at $100,000 at that time, but by 1927, the Ford Motor Company was valued at $700 million. Ford’s company grew quickly, but it wasn’t until the release of the Model T that Ford took the position of our nation’s largest carmaker.
Henry Ford was the father of mass production. His idea of reducing the cost of automobiles by manufacturing them on an assembly line revolutionized industry 
The Model T kept Ford number one in the industry until production was stopped in 1927, and Ford relinquished its place to Chevrolet. The second Model A, released in November of 1927, was a great success. Between 1927 and 1931, 4.3 million Model A Fords were made. The stylish, dependable, and affordable Model A reaffirmed Ford’s position as a premier automaker at the time. Sales for the Model A would never approach those of its forerunner the Model T, due to the onset of the Depression. As sales slumped, Henry Ford decided to release a new car model in 1932. He introduced the speedy Ford V-8, known as the fastest car in the land at the time. Ford would never again regain hegemony atop the car industry. 
    1904-Charles E. Menches of Akron, Ohio, Missouri “discovers” the ice cream cone. The City of Akron gives him credit for hamburgers and corn snacks. While many give him credit, there are others who also have claim.
http://www.zingersicecream.com/history.htm
http://www.idfa.org/facts/icmonth/page8.htm
http://www.icescreamers.com/NewsletterArticle.html
The Official Day in History gives the credit to Menches:
http://memory.loc.gov/ammem/today/jul23.html
As does the official website for the City of Akron, Ohio
http://www.ohwy.com/oh/a/akron.htm
It also may be that he invented the hamburger as we know it, too:
http://ph.infoplease.com/askeds/11-28-00askeds.html
http://www.iabeef.org/fun/trivia.htm
    1908-Birthday of Charles Melvin “Cootie” Williams, Mobile, AL
http://www.blackhistory.eb.com/micro/727/46.html
http://www.artistdirect.com/music/artist/bio/0,,510077,00.html?artist=Cootie+Williams
http://www.savoystyle.com/cootie_williams.html
    1915-birthday of trumpet player Emmett Berry, Macon, GA
http://www.harlem.org/people/berry.html
http://www.harlem.org/oldsite/greatday.html
    1916--American composer Ben Weber born St. Louis, MO. Died 9 May 1979, New York. One Of the First Americans to use twelve tone Technique, in a very melodic way.
    1918- Birthday of Harold Henry “Pee Wee” Reese, famous short stop player for the Brooklyn Dodgers, who I saw play often. Died August 14,1999
http://www.baseballhalloffame.org/hofers_and_honorees/hofer_bios/reese_pee_wee.htm 
(perhaps my favorite personal baseball player, captain of the team, short stop. Readers probably get sick of me saying how baseball players would stay after games to autographs balls or pictures for free, thank you for coming to the game. )
    1924-Birthday of African American physician Louis Tompkins Wright. Louis Tompkins Wright, a young African American physician interning at Freedmen’s Hospital in Washington, DC, created a way to observe the Schick test on darkly pigmented skin. His discovery opened the way for the immunization of people of color against diphtheria and contributed to saving countless lives. 
http://www.africana.com/Facts/bl_fact_237.htm
    1925-Lou Gehrig of the New York Yankees hit the first grand slam of his career as the Yankees defeated the Washington Senators, 11-7. Gehrig hit 22 other grand slams and still holds the major league record.
    1930-Tenor saxophone player Richie Kamuca Birthday
http://shopping.yahoo.com/shop?d=product&id=1927005865&clink=dmmu.artist&a=b
    1934-Birthday of Roman Catholic Cardinal James Gibbons, champion of labor and advocate of the separation of church and state, was born to Irish immigrants in Baltimore, Maryland.
( lower part of: http://memory.loc.gov/ammem/today/jul23.html )
    1934-Birthday of soprano sax player Steve Lacy, New York, NY.
http://www.furious.com/perfect/stevelacy.html
http://stevelacy.free.fr/
http://www.northwestern.edu/jazz/artists/lacy.steve/discog.html#lacy_discography
    1935-Birthday of Cleveland Duncan, lead singer of the 1950's rhythm-and-blues group, the Penguins, was born. The Los Angeles-based Penguins were responsible for one of the great r-and-b songs of the decade, 1954's "Earth Angel," which by 1966 had sold four-million copies. The record went to number eight on the Billboard pop chart, but a white Canadian group, the Crew Cuts, had an even bigger pop hit when they covered "Earth Angel" in 1955. "Earth Angel" hit the Billboard Hot 100 again in 1986 in a revival by the New Edition.
http://www.alldoowop.com/ps.html
http://members.tripod.com/~arty85/penguins.html
    1936- birthday of Don Drysdale, elected to the Baseball Hall of Fame in 1984. He was a pitcher for the Brooklyn and Los Angeles Dodgers from 1956 to 1969, compiling a Won-lost record of 209—166 with a career ERA of 2.95. Following his Playing career he became successful and popular broadcast announcer for the Chicago White Sox and then the Dodgers. He was born at Van Nuys, CA, and died at Montreal, Canada, July 3, 1993.
    1941-Sonny Dunham records big band version of “Memories of You.” 
    1943-birthday of guitarist/song writer Tony Joe White, Oak Grove, LA
http://www.tonyjoewhite.net/
    1944--BOYCE, GEORGE W. G., JR. Medal of Honor
Rank and organization: Second Lieutenant, U.S. Army, 112th Cavalry Regimental Combat Team. Place and date. Near Afua, New Guinea, 23 July 1944. Entered service at: Town of Cornwall, Orange County, N.Y. Birth: New York City, N.Y. G.O. No.: 25, 7 April 1945. Citation: For conspicuous gallantry and intrepidity at risk of his life above and beyond the call of duty near Afua, New Guinea, on 23 July 1944. 2d Lt. Boyce's troop, having been ordered to the relief of another unit surrounded by superior enemy forces, moved out, and upon gaining contact with the enemy, the two leading platoons deployed and built up a firing line. 2d Lt. Boyce was ordered to attack with his platoon and make the main effort on the right of the troop. He launched his attack but after a short advance encountered such intense rifle, machinegun, and mortar fire that the forward movement of his platoon was temporarily halted. A shallow depression offered a route of advance and he worked his squad up this avenue of approach in order to close with the enemy. He was promptly met by a volley of hand grenades, 1 falling between himself and the men immediately following. Realizing at once that the explosion would kill or wound several of his men, he promptly threw himself upon the grenade and smothered the blast with his own body. By thus deliberately sacrificing his life to save those of his men, this officer exemplified the highest traditions of the U.S. Armed Forces. 
    1944--*EUBANKS, RAY E. Medal of Honor
Rank and organization: Sergeant, U.S. Army, Company D, 503d Parachute Infantry. Place and date: At Noemfoor Island, Dutch New Guinea, 23 July 1944. Entered service at: LaGrange, N.C. Born: 6 February 1922, Snow Hill, N.C. G.O. No.: 20, 29 March 1945. Citation: For conspicuous gallantry and intrepidity at the risk of his life above and beyond the call of duty at Noemfoor Island, Dutch New Guinea, 23 July 1944. While moving to the relief of a platoon isolated by the enemy, his company encountered a strong enemy position supported by machinegun, rifle, and mortar fire. Sgt. Eubanks was ordered to make an attack with 1 squad to neutralize the enemy by fire in order to assist the advance of his company. He maneuvered his squad to within 30 yards of the enemy where heavy fire checked his advance. Directing his men to maintain their fire, he and 2 scouts worked their way forward up a shallow depression to within 25 yards of the enemy. Directing the scouts to remain in place, Sgt. Eubanks armed himself with an automatic rifle and worked himself forward over terrain swept by intense fire to within 15 yards of the enemy position when he opened fire with telling effect. The enemy, having located his position, concentrated their fire with the result that he was wounded and a bullet rendered his rifle useless. In spite of his painful wounds he immediately charged the enemy and using his weapon as a club killed 4 of the enemy before he was himself again hit and killed. Sgt. Eubanks' heroic action, courage, and example in leadership so inspired his men that their advance was successful. They killed 45 of the enemy and drove the remainder from the position, thus effecting the relief of our beleaguered troops.
    1947-Birthnday of Don Imus, radio personality (IMUS in the Morning)
http://talkshows.about.com/cs/donimus/tp/fangifts.htm
    1947 - David Essex (David Cook) is born in London. His biggest hit is the million-selling No. 5 single ``Rock On.''
    1948—Top Hits
You Can’t Be True, Dear - The Ken Griffin Orchestra (vocal: Jerry Wayne)
Woody Woodpecker Song - The Kay Kaiser Orchestra (vocal: Gloria Wood & The Campus Kids)
It’s Magic - Doris Day
Bouquet of Roses - Eddy Arnold
    1950- The “Gene Autry Show” premiered on television. The popular CBS western ran for six years starring movie actor Gene Autry. Along with sidekick Pat Buttram. His horse’s name was Champion. Autry helped bring criminals to justice. He later founded the California Angel’s baseball team (a statue of him is at the Anaheim stadium). He has a museum of Western History
http://www.autry-museum.org
    1951 - No. 1 Billboard Pop Hit: ``Come on-a My House,'' Rosemary Clooney.
    1951--American composer John Carbon born Chicago, IL.
http://www.johncarbon.com/biography.html
    1955-- Chuck Berry "Maybelline" is released.
    1956—Top Hits
The Wayward Wind - Gogi Grant
Hound Dog/Don’t Be Cruel - Elvis Presley
Whatever Will Be Will Be (Que Sera Sera) - Doris Day
I Walk the Line - Johnny Cash 
    1960-Betsy Rawls became the first golfer to win the US Women’s Open four times, adding the 1960 title to those won in 1951, 1953 and 1957.
http://www.reedsweb.com/drtbird/golf/html/brawls.htm
http://www.ajga.org/ResultsArchive/1998/BetsyRawls/Results.htm
    1962 - The "Telstar" communications satellite sent the first live TV broadcast to Europe. It was used to send TV programs between the United States and Europe
   1963- High school student Neil Young and his band, the Squires, enter a Winnipeg, Manitoba, Canada studio to record their first single, a surf instrumental called "The Sultan."
    1964—Top Hits
Rag Doll - The 4 Seasons
Can’t You See that She’s Mine - The Dave Clark Five
The Girl from Ipanema - Stan Getz/Astrud Gilberto
Dang Me - Roger Miller
    1965-In a 5-1 win over the Mets, Phillies' first baseman Dick Stuart homers at Shea Stadium becoming the first player to have gone deep in 23 major league ballparks
    1965 - President Lyndon B. Johnson, in the course of discussions about what to do concerning the deteriorating situation in Vietnam, is told by some that he should give the American public all the facts, ask for an increase in taxes, mobilize the reserves, and declare a state of national emergency in the United States. Johnson rejected this approach, and informed his staff that he wanted any decisions implemented in a "low-key manner" in order to avoid an abrupt challenge to the communists, and to avoid undue concern and excitement in Congress and in domestic public opinion. During these discussions, Secretary of Defense Robert McNamara urged the president to "expand promptly and substantially" the U.S. military presence in South Vietnam. Johnson, not wanting to "lose" Vietnam to the communists, ultimately accepted McNamara's recommendation and authorized a total of 44 U.S. battalions in South Vietnam, which led to a massive escalation of the war.
    1966 - Frank Sinatra hit the top of the pop album chart with his "Strangers in the Night". It was the first #1 Sinatra LP since 1960. The album’s title song had made it to number one on the pop singles chart on July 2nd. 
    1966--A recording engineer named Jerry Samuels, who billed himself as Napoleon XIV, hit the top of the Billboard chart with a novelty song called "They're Coming to Take me Away, Ha-Haaa!" The song was banned by many US radio stations because it seemed to make fun of the insane. http://www.drdemento.com/catalog/napoleon.html
    1967- Forty-three killed in racial rebellion in Detroit (2,000 injured, 442 fires).
http://www.geneseo.edu/~jle5/
http://www.templeton-interactive.com/lest15.htm http://detnews.com/specialreports/2002/segregation/b06-390063.htm
http://www.icpsr.umich.edu:8080/ABSTRACTS/07312.xml
    1967-Neal Cassidy of Ken Kesey fame in performance with "Straight Theatre Rap" at the Straight Theatre in San Francisco.
http://images.wolfgangsvault.com/images/catalog/thumb/ZZZ005003-HB.jpg
Artist: Victor Moscoso
    1968-San Francisco Mime Troupe performed "Ripped Van Winkle " in San Francisco.
    1969- James Brown walked out of Los Angeles Mayor Sam Yorty's office when the mayor failed to show up on time to present him with a proclamation for James Brown Day
http://www.funky-stuff.com/jamesbrown/
    1970-*LUCAS, ANDRE C. Medal of Honor
Rank and organization: Lieutenant Colonel, U.S. Army, 2d Battalion, 506th Infantry, 101st Airborne Division. place and date: Fire Support Base Ripcord, Republic of Vietnam, 1 to 23 July 1970. Entered service at: West point, N.Y. Born: 2 October 1930, Washington D.C. Citation: Lt. Col. Lucas distinguished himself by extraordinary heroism while serving as the commanding officer of the 2d Battalion. Although the fire base was constantly subjected to heavy attacks by a numerically superior enemy force throughout this period, Lt. Col. Lucas, forsaking his own safety, performed numerous acts of extraordinary valor in directing the defense of the allied position. On 1 occasion, he flew in a helicopter at treetop level above an entrenched enemy directing the fire of 1 of his companies for over 3 hours. Even though his helicopter was heavily damaged by enemy fire, he remained in an exposed position until the company expended its supply of grenades. He then transferred to another helicopter, dropped critically needed grenades to the troops, and resumed his perilous mission of directing fire on the enemy. These courageous actions by Lt. Col. Lucas prevented the company from being encircled and destroyed by a larger enemy force. On another occasion, Lt. Col. Lucas attempted to rescue a crewman trapped in a burning helicopter. As the flames in the. aircraft spread, and enemy fire became intense, Lt. Col. Lucas ordered all members of the rescue party to safety. Then, at great personal risk, he continued the rescue effort amid concentrated enemy mortar fire, intense heat, and exploding ammunition until the aircraft was completely engulfed in flames. Lt. Col. Lucas was mortally wounded while directing the successful withdrawal of his battalion from the fire base. His actions throughout this extended period inspired his men to heroic efforts, and were instrumental in saving the lives of many of his fellow soldiers while inflicting heavy casualties on the enemy. Lt. Col. Lucas' conspicuous gallantry and intrepidity in action, at the cost of his own life, were in keeping with the highest traditions of the military service and reflect great credit on him, his unit and the U.S. Army.
    1971 - No. 1 Billboard Pop Hit: ``Indian Reservation (The Lament of the Cherokee Reservation Indian),'' The Raiders (formerly Paul Revere and the Raiders). It is the group's biggest hit and last to hit the top 20.
    1972—Top Hits
Lean on Me - Bill Withers
Too Late to Turn Back Now - Cornelius Brothers & Sister Rose
Alone Again (Naturally) - Gilber O’Sullivan
It’s Gonna Take a Little Bit Longer - Charley Pride
    1977--Foreigner's "Cold As Ice" is released.
    1977--"Looks Like We Made It" becomes Barry Manilow's third US chart topper. The song had been written by Richard Kerr, the same man who wrote the music for Manilow's first number one, "Mandy".
    1977 - Judas Priest begins its first U.S. tour in Oakland, Calif., as the opening act for Led Zeppelin.
    1977--Peter Frampton had the best selling single in America with "I'm In You". Both the song and the album of the same name would go on to reach Platinum status.
    1980—Top Hits
It’s Still Rock & Roll to Me - Billy Joel
Little Jeannie - Elton John
Cupid/I’ve Loved You for a Long Time - Spinners
True Love Ways - Mickey Gilley
    1981- Billy Squier earns his first gold album. He has a big hit with his second solo record, "Don't Say No."
    1981 - No. 1 Billboard Pop Hit: ``The One That You Love,'' Air Supply. The group is the first from Australia to hit Billboard's Hot 100.
    1983-"Synchronicity" by The Police went to #1 on the Billboard album chart for the first of seventeen weeks.
    1984 - Miss America, Vanessa Williams, turned in her crown. It had been discovered that she had posed nude for "Penthouse" magazine. Williams, the first black Miss America, relinquished her title to Suzette Charles, the pageant’s runner-up.
http://www.celebritycd.com/vanessawilliams/ 
http://www.vanessawilliams.de/
    1987 - Thunderstorms produced a record ten inches of rain in six and a half hours at Minneapolis, MN, including 5.26 inches in two hours. Flash flooding claimed two lives and caused 21.3 million dollars damage. Streets in Minneapolis became rushing rivers, parking lots became lakes, and storm sewers spouted like geysers. A tornado hit Maple Grove, MN, causing five million dollars damage. Baseball size hail was reported at Olivia, MN
    1988- Saskatchewan's Dave Ridgway kicks record 8 field goals vs. Edmonton 
    1988 - No. 1 on the Billboard Hot 100 is Richard Marx's "Hold on to the Nights." It is the fourth single from his debut album, and it remains at No. 1 for one week.
    1988—Top Hits
Hold on to the Nights - Richard Marx
Pour Some Sugar on Me - Def Lappard
New Sensation - INXS
Set ’Em Up Joe - Vern Gosdin
    1989- FOX-TV tops ABC, NBC & CBS for 1st time (America's Most Wanted)
    1989- Ringo Starr begins his first tour since the Beatles stopped touring in 1966, introducing his "All-Starr Band" of Seventies icons in Dallas, TX.
    1992- Bruce Springsteen opens his first U.S. tour since 1988 at The Brendan Byrne arena in the Meadowlands complex in New Jersey. The Boss plays 10 sold out shows in the 21,000 seat arena, with some of the shows going until 1AM
    1995-- Two astronomers, Alan Hale in New Mexico and Thomas Bopp in Arizona, almost simultaneouly discover a comet.
    1996- the first television station to regularly broadcast high-definition television was WRAL, a CBS affiliate in Raleigh, NC. There are many prime time television shows now broadcast in HD, but not many sets sold that will receive the broadcasts. 
    1997- Netware International Bank was shut down by the FBI. The bank had been accused of improperly making loans and collecting deposits over the Internet.
http://www.fraud.org/news/old/120897.htm
http://www.cbintel.com/fraudbanking.htm
    1999-- NASA's first space mission commanded by a woman. Air Force Colonel Eileen Collins blasted off from Cape Canaveral in a rare night takeoff (12:26 am) and ended five days later (07-27-99) in a rarer night time landing (11:20 pm). On 07-24-99, mission specialist Catherine "Cady" Coleman was in charge of efforts to successfully deploy the $1.55 billion Chandra X-ray Observatory and did most of the delicate deployment herself. It wasn't until the next day that the public learned a fuel leak almost resulted in a highly dangerous, forced night landing. It would have been the first "forced landing" of a U.S. space ship. Captain Eileen Collins handled the crisis perfectly and the mission continued as scheduled.
    2000- Joining his grandfather Gus and father Buddy, Reds' third baseman Mike Bell becomes part of the first three-generation family to play for the same team.
    2000 -The Astros hit four homers off Cardinal hurler Andy Benes to tie the major league record for homers allowed by one pitcher in an inning. The second inning uprising help Houston set a team record for homers in one inning and tie a team record with six home runs for the game.
    2000- After rejecting a trade to the Mets, Reds' All-Star shortstop Barry Larkin agrees three-year, $27 million contract extension that will keep him Cincinnati until 2003.
    2000 - Tiger Woods won the British Open at St. Andrews, Scotland to become the youngest player (24 years of age) to win the career ‘Grand Slam’ of golf (The Masters, PGA Championship, U.S. Open and British Open) and the first to win all four majors since Jack Nicklaus’ victory in the 1966. Woods not only was the youngest player to win the career Grand Slam, he completed it faster than any of the four greats who did it before him. The other players to win the Grand Slam were Gene Sarazen in 1935, Ben Hogan in 1953, Gary Player in 1965 and Jack Nicklaus in 1966 (age 26) at Muirfield. (Nicklaus went on to win the Grand Slam two more times.) Woods finished the British Open at 19-under-par 269, the best score ever at St. Andrews (Nick Faldo shot an 18- under in his 1990 win), and the lowest score ever at a major championship.
    2002- Celebrating his 29th birthday by hitting three homers Boston's 22-4 rout of the Devil Rays, Nomar Garciaparra ties the major league record becoming the 26th player to hit five home runs in two games. It was Red Sox shortstops second three-homer game, who also accomplished the feat against the Mariners on May 10, 1999.
    2005-- At San Francisco SBC Park, uniform number 36 is added to the second deck of the left field bleachers joining nine others as the Giants honor Gaylord Perry. The Hall of Famer, who won 134 of his 314 career victories with San Francisco, remembers his 37-year old son, Jack, who died last month of complications from leukemia.
    2006—It was predicted to hit 110 degrees in Los Gatos/Saratoga. We have never experienced more than one day over a triple digit weather, especially so high, so we took off early for the beach area, driving to Carmel, where it was 68 when he got there, and never went over 70 degrees. We took the dog, who really enjoyed Carmel-by-Sea, where dogs are welcome and most stores have water bowls and treats for dogs and welcome them into the store, and restaurants.

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