Pictures from the Past
1984--Anatomy of a Lease

---1984----

Anatomy of a Lease

Western Association of Equipment Leasing July Seattle Regional Workshops---‘Anatomy of a Lease: How to Make Things Go Right that Sometimes Go Wrong”---received enthusiastic acclaim from the more than 200 member and guests who attended. , Bob Jacobson, Tri-Continental Leasing Corp., Sunnyvale, CA, makes his presentation.

Shown above are panelists Steve Gilyeart, Esq. Torbenson, Thatcher, Yung, Blacklow & Gilyeart; Jacobson; Larry Blazek, Pentech Leasing, Inc., San Jose, CA; and Bob Wright, Colonial-Pacific Leasing Co., Clackamas, OR. Below, attendees in Seattle concentrate on the material.

September, 1984, WAEL Newsline

TODAY

Steve Gilyeart passed away at age 57 on March 7, 2009, Seattle, Washington
http://www.washelli.com/obits/obituaries.php/obitID/48018

Bob Jacobson left the leasing business October, 1991, worked at HP in business development, then Marriott Vacation Club sales in Lake Tahoe, team manager and sales executive, Starwood, Westin Kaanapali Resort, and now is a computer mobile marketing consultant for RJ consulting, living in Hollister, California (last I heard--editor).
www.linkedin.com/in/mauibob

Larry Blazek: "Thanks for the pictures of the good old days. I retired from Pentech two years ago last February. Also my son served his 4 years and got out of the navy last April. I still live in San Jose."
(Here is story of his son graduating Great Lakes Naval Academy with photographs:)
http://www.leasingnews.org/archives/June%202009/06-12-09.htm#larry

Bob Wright---no current information

 

Classified Ads---Sales

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

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

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

Working Capital Loans $10,000-$250,000
www.channelpartnersllc.com p: (763) 746-7760 f: (763) 592-8297 information@channelpartnersllc.com

 

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Modern History of Leasing—abridged
Written by Tom McCurnin, Leasing News Legal Editor
and Christopher Menkin, Leasing News Editor

(Part 1 of Four)

Bridgeport Mill “JHead”

In the 1960's what basically existed in the United States were large leasing transactions for airplanes, computers, shipping containers, railroad boxcars and tankers, with the lessor looking for a tax advantage. Most of the business was referred by tax consultants, CPA's, and bankers with investor departments who put syndications together. To be a lessor and write off investment in five years than twenty years such was on railroad oil tank cars depreciation was very popular. Later, large computers were also included as well as containers used in shipping. (1)

Bank of America is credited as the first bank to get into leasing. US Leasing, also out of San Francisco, is credited as the first large leasing company, both specializing in the large ticket marketplace. Smaller items were "rented" on 12 month contracts that renewed each year, such as for telephones and systems (you couldn’t buy them), postage meters (you still can’t buy them), typewriters (IBM especially), TWX machines; and even laundry and dry cleaning equipment were popular. These equipment dealers received financing from the manufacturers primarily who had bank lines of credit, or often, their own cash. (2)

Until the 1970’s, most of the leases were large ticket, $1 million and up. The middle market of $100,000 to $500,000 was the last to open, as the most active became the small ticket market place, under $100,000; primarily under $50,000.

Most of the large financial companies such as CIT, Ford Motor Corp., Westinghouse also did financing of vehicles and machinery with 25% down. CIT and Westinghouse, among others, were primarily into “dealer financing “of equipment. Most of the banks were doing short term financing, accounts receivable and other less than one year loans, but not in the small ticket marketplace. Finance companies such as Budget Finance, Fireside Thrift & Loan, Foothill Thrift & Loan, Imperial Thrift & Loan, Topa Thrift & Loan, who would finance "yellow iron" and machinery for 10% down on 24 and 36 month terms. They often would take second mortgages, whereas the banks were not doing this at the time.

Also popular at this time by banks, finance, and leasing companies was disability and life insurance included in the leases (later leasing companies would take over leases when personal property insurance was not available or had expired.) In disability and credit life insurance the commission was 30% of the premium (if a licensed broker, easy to obtain, it was 50% plus 5% of the premium each following year.)

As automobile leasing became popular at the end of the 1960's, some started both middle and small ticket leasing of equipment with a "fair market value," such as Crocker-Citizens, Union Bank, Wells Fargo. During this course, the residuals also changed to “10% or ‘fair market value’, “whichever is higher.” This supposedly qualified the term as a “true lease.”

Most of the transactions came from dealers and the banks and companies had salesmen calling on the dealers. Some were "recourse" where the salesman also did collections. There was a growth of independent automobile leasing companies, primarily in making a profit both on the vehicle and the financing, which competed with dealerships, as well as bought their vehicles from the dealerships. There was a growth of “F&I” (finance and insurance managers) who made a commission on placing financing non-recourse.

The car dealers often formed their own vehicle leasing company, not regulated early on and thus the growth of the National Vehicle Leasing Association, originally formed in 1968 for fleet operators, later expanded to dealers and then independent vehicle leasing companies.
(3)

The great advantage in equipment leasing was that the implicit lease rate or any interest rate did not have to be disclosed. It was not on the contract. Leasing was unregulated and even the accounting laws were not being adjusted, let alone federal and state laws. The consumer laws were just beginning, but not in business.

The first growth in small ticket leasing was from the thrift companies who started offering leases with terms of first payment plus 10% purchase option, calling it a true lease, letting the lessee get the investment tax credit; and then extending it to 48 and 60 months. The commissions came from the 10% purchase option, labeled also as a "security deposit" in case of default. The buy rates were 18%.

The first to pick up on this were “F&I” automobile “managers,” who began to also place equipment financing as well as vehicles, especially trucks and vans. Business leasing of vehicles was very popular.

As leasing associations were formed during this period, none of them accepted "brokers," independent salesmen who referred leases. As the banks saw the thrift companies doing a lot of business, they entered the market place with lower rates and back to a traditional first and last (which really was also a "down payment" in the structuring and where commissions came from). More and more banks began accepting independent salesmen, as well as extending recourse and non-recourse to small companies called "lessors," who would use their own lease documents or a bank generic document and "discount" the lease to the bank. “F&I” managers as well as equipment salesmen who were making commissions on placing the financing also went into business for themselves.

At this time, in the middle 1970's, the Japanese invasion of numerical control machinery and other products began hitting the United States, and the Japanese financing at first offered one month down in a lease with very liberal credit--- and then went to 90 days-no lease payment at the time. American products such as Bridgeport and Hardinge dominated machine shops until the leasing became very popular, particularly the attitude that the equipment would be obsolete in a short period of time, sometimes just two years, as manufacturing was booming and small shops were opening up everywhere, even in rural areas and states with no sales tax or less expensive labor. The Japanese cheaper, faster, and easy credit changed the marketplace as a price war broke out with CIT, Ford Motor Credit, Westinghouse, and they started accepting brokers, as did banks and lessors, and then brokers were accepted by the American Equipment Leasing Association and the Western Association of Equipment Lessors. The elephant in the industry was GE, if you were lucky enough to have the volume for them.

A major event was the passage of FASB 13, November, 1976 (4). ” An operating lease records no asset or liability on the financial statements, the amount paid is expensed as incurred. On the other hand, a capital lease is recorded as both an asset and a liability on the financial statements, generally at the present value of the rental payments (but never greater than the asset's fair market value). To distinguish the two, the Financial Accounting Standards Board (FASB) provided criteria for when a lease should be capitalized, and if any one of the criteria for capitalization is met, the lease is treated as a capital lease and recorded on the financial statements.” (5)

During this time there were several well-known books written on leasing, but the most popular came from William Granieri, “The Anatomy of the Equipment Leasing Sale,” 1986. He had been popular at leasing associations with his son Michael, promoting his seminars, especially for those new in the business. He basically told how to overcome rate, how to not disclose it, how to use leasing numbers, and if pushed into a corner, the 18% five year lease cost was 10% (“add on” versus Annual Percentage Rate, as well as no discount on first and last or the residual not included.) He showed how to demonstrate this to a customer on a $189 Craig portable electronic hand held calculator (1½ times the size of a pack of cigarettes.)

This was also the time of leasing schools for brokers, and there were close to twenty at one time. One of the most popular was Wildwood, run by the late Bob Baker, who would bring in 35 members a year into WAEL and then later 50 into NAELB. One of the great things of the “schools” was after the broker graduated, the school would help place leases for a fee for one year (and often after that.) And fees for schools ran from $12,000 to $36,000 for two weeks with books and training and help after graduation. (6)

In addition, according to Linkedin.com biographies of those in leasing, many came from selling the equipment and learning about leasing and its commissions. As various types of equipment was becoming obsolete such as mimeograph, typesetting, small print shops, even office and furniture dealers competing with large chains, they went into equipment finance as they knew how to sell it, didn’t need an office, and only needed a source to process their application. Later they learned to run consumer credit reports, even Dun & Bradstreet, and those smart enough learned how to read financial statements and tax returns. There were many courses available at leasing conferences, as well as from companies such as Dun & Bradstreet who had excellent, inexpensive, easy courses.

Wednesday Part II
“Brokers Grow in Leasing”

1. "Equipment Leasing: A Complete Handbook,"
   Amembal, Halladay & Isom, McGraw Hill, 1992

2. "The Certified Lease Professionals' Handbook,"
   CLP Foundation, 2011 "Installment Credit, "
   American Institute of Banking, 1964

3. www.nvla.org

4. FASB 13

5. http://www.ask.com/wiki/Accounting_for_leases_in_the_United_States

6. http://www.leasingnews.org/Conscious-Top%20Stories/wildwood.htm

 

 

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Leasing 102
by Mr. Terry Winders, CLP

Tools for Leasing Sales

The first requirement for leasing sales is knowledge of leasing rules and regulations. Next is to organize a sales area and qualify prospects to maximize sales time. In addition there are a few leasing tools to support the sales effort. Normally new sales people begin by creating a rate chart based on the rates and terms offered by their leasing company.

The best rate charts are the ones that start at 33 months and progress to the maximum term allowed by your funding limits. The chart has a column for the number of months followed by a column for the rate factor. The lease payment can be determined by multiplying the rate factor against the equipment cost for each month. This way you can meet the lessee’s requested payment by determining how many months it will take at that payment to complete the lease. If the rate chart only had payment factors for 36,48 or 60 months it restricts the lessee’s options.

When the size of the transaction gets larger and the completion becomes intense the best tool is a computer pricing program that can create unusual payment terms. In addition a computer pricing program can create additional programs like tax motivated leases, and provide terms with residuals, skips and the value of delayed funding. It also provides net present value numbers to help explain the accounting approach for the lessee.

On competitive transactions the next tool is a written lease proposal. A lease proposal lays out your terms and conditions The more detailed it is the better chance when you present it that you will learn where your presentation is lacking and perhaps you will have the chance to change it. (See "Commitment to Lease" Agreements" which follows this article.)

One of my favorite tools is a crib card that lists over 20 questions to ask on the use and description of the equipment. On the reverse side of the crib card is twenty questions on the structure for the lease. The more information you have the better lease you can propose.

One of the most important tools for the salesperson is the call report. That written report that lists what happen on the sales call and what the next action is to be taken. Sometimes it is wise to categorize the call reports into the potential for future business by deciding how often to make additional calls. When an opportunity for a lease presents itself the salespersons have the responsibility to obtain all the credit information and the complete equipment description.

To accomplish obtaining all the information necessary another tool is the information checklist. This checklist contains a list of critical information to get the transaction approved. It is hard in the excitement of the moment to remember everything necessary to close the deal so a card with the checklist is very supportive.

To be a profession salesperson in the commercial equipment leasing business you need to be organized and trained on the rules, regulations, Pricing, and documentation.

Mr. Terry Winders, CLP, has been a teacher, consultant, expert witness for the leasing industry for thirty years and can be reached at terrywinders11@yahoo.comor 502-649-0448.

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 a consultant regarding assisting attorneys in resolving disputes or explaining procedures or reviewing documents as utilized in the finance and leasing industry. He is the author of several books, including DVD's, as well as weekly columnist to Leasing News. He also performs audits of leasing companies as an expert on documentation, and has acted as an expert witness on leasing for litigation in legal and tax disputes, including before the IRS. He also has taught the senior bank examiners, how to review a bank leasing department, for the Federal Reserve in Washington D.C. and has trained the examiners for the FDIC on how to prepare a lease portfolio for sale. 502.649.0448/terrywinders11@yahoo.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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"Commitment to Lease" Agreements

Commitment Forms

The dollar size of the lease proposal often dictates the details and length of the commitment letter.

In small ticket lease, the actual lease payment is often given and calls for the first and last as well as the documentation fee. Often a clause contains a "documentation" fee for $495.00, which is non-refundable if the lease is not approved. The wording is different and seems to be buried and whether written originally by an attorney or taken from the use of another leasing companies form is not known.

According to ex-employees as well as complaints that have appeared in Leasing News, many companies get such proposals signed in advance knowing they will be unable to proceed with the lease due to the nature of the equipment or the proposed lessee telling them of their credit difficulties in the presentation or from running a consumer credit report.

In larger ticket size leases, often a form such as this is used, which specifically charges a fee to process the application:

http://two.leasingnews.org/loose_files/Lease_app_agreement.rtf

Loans or “Working Capital” commitment letters are explicit and require the broker to often be licensed. This form is for use in California:

http://two.leasingnews.org/loose_files/Authorization_to_find_lender.rtf

This form is one of the most widely used in the leasing industry for leases $50,000 and above and covers most of the bases. Note: Last sentences about the signatures makes this more a “proposal,” than commitment. If required, these sentences may be removed.

http://two.leasingnews.org/loose_files/Generic%20commit%20Letter.DOC

It is a good idea to have the form you use reviewed by an attorney with equipment leasing experience. This does not mean your college friend who became a lawyer. You wouldn't take your children to an Endodontist to get braces on their teeth, although the practitioner is a "dentist." The same with going to an attorney. You don't go to a divorce attorney to go over a lease commitment contract.

Some things to consider in your form.

#1: ACH---If you are going to require it or may require it, you should have this spelled out in the agreement. If not in the contract and becomes a requirement of the lease, the proposal is invalid.

#2 Date---It is a good idea to have a time period involved, and perhaps if not approved, from completion of all the documents and/or lease contracts. A prospect can back out after 30 days and bring this up in small claims court, unless spelled out the time begins after all documentation is complete ( attorneys will have different opinions on this and its wording, but the complaint may make it into Leasing News when it takes months before anything happens.)

#3 Personal guarantee--of all officers who own 10% or more of a privately held corporation. (This will protect if the final approval comes in with terms and conditions, but requires other guarantors who are not named on the application or in the proposal.)

This form was developed by Ken Greene now at partner at Hamrick & Evans, LLP, Universal City, California, with offices also in Northern California.

http://www.leasingnews.org/Conscious-Top%20Stories/Greene_Lease_agreement.htm

To Contact Ken Greene:

Kenneth C. Greene, Partner
Hamrick & Evans, LLP
10 Universal City Plaza, Suite 2200
Universal City California 91608
(828)763-5292 or 415.858.9711
Fax: 818-763-763-2309
kgreene@hamricklaw.com

The form makes it a contract between both parties, and is not one sided as appeared in this Leasing News Bulletin Board Complaint:

(click to make larger)

from this Leasing News Bulletin Board Complaint:
http://leasingnews.org/archives/December%202009/12-14-09.htm#benchmark

 

 

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Leasing Industry Help Wanted

Orange, California Commercial Credit Analyst 3-5 Year underwriting experience Underwrite 15 to 20 credit apps a day, $75,000 started credit limit, above $75,000 with committee. This is a key position, important for the growth of Quick Bridge Funding. For more description of duties and requirements, please click on position www.quickbridgefunding.com Quick Bridge Funding provides working capital loans to small and mid-sized companies throughout the United States. With an innovative program we provide capital to an to an under-served market.

Leasing Coordinator West Los Angeles, California Grow with us: coordinate credit, documents, funding, and all processing--- helping small to medium size businesses survive as well as improve their profit. Dakota Financial is a small family style run company. Speak directly to the person in charge: Michael Green (310) 6969 3030 x 124 www.dakotafinancial.com We fund traditional leases as well as sale-leasebacks, private party sales, start-ups, and owner/operators from $10,000 up to $250,000.

Positions Available in Irvine and San Diego Funding Coordinators and Credit Analysts 1 year experience preferred, salary/benefits Funding Coordinator description: click here Credit Analyst description: click here Resumes: dean@cflbc.com

www.cflbc.com Commercial Finance & Leasing Bank of Cardiff, Inc, a finance lender licensed pursuant to the California Finance Lenders Law, license #603G469

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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Royal Links Appeal Rules Back to Trial
By Tom McCurnin
Leasing News Legal News Editor

Another of the Royal Links cases has finally trickled its way through three levels of the court system. The facts of this program are generally known by most leasing professionals. Royal Links made golf cart snack trailers with advertising placards. The idea was that the advertising revenue would generally pay for the nominal amount of the lease payments for the trailer. The actual trailers had nominal value of perhaps a thousand dollars, but were sold for 15 times that amount, with total lease payments of over $15,000. There is no question that the Royal Link's salespersons represented that the advertising revenue would essentially pay for the lease payments. Indeed, Royal Links arranged for the advertising and made the lease payments to the Lessors for about 16 months. Numerous leasing companies had a very strong appetite for these deals.

When the payments stopped, the golf courses banded together and sought a class action against Royal Links and also disseminated information on how to defend the expected lawsuits from the lessors. I personally tried a couple these cases.

The defenses of the golf courses were

• The contracts were disguised security agreements and loans, not leases

• The Royal Links sales persons were agents of the lessors

• There was fraud in the inducement of the contract and the terms were unconscionable

• The contracts were usurious

• As against an Assignee, the "Hell or High Water" clause was not enforceable

At the trial court level, the Assignee, which was Frontier Leasing, prevailed on all the issues, and the Court of Appeals affirmed. However, the Lessee took the matter all the way to the Iowa Supreme Court which ruled:

--The contracts were loans, because there was a $1 purchase option. No big surprise here.

--A question of fact existed whether the salespersons were agents of the Lessor, ignoring a contractual provision to the contrary. Not a surprise here, either, although there is some case law to the contrary. Proving the agency relationship at trial will be difficult for the Lessee.

--Because the agents may have misrepresented the terms, fraud in the inducement could be asserted, ignoring a contractual provision to the contrary. This wasn't a surprise either, but again, the success on this issue will depend on the agency argument.

--The Hell or High Water provision as to defects of the goods was enforceable, but because fraud in the inducement was allowed to be raised, this seems to be a pyrrhic victory.

--Because the contract was a loan, the loan could be usurious, but since the loan was business loan, it fell within Iowa's exception. No Reg. Z disclosure needed to be given. This was a victory for the Lessor.

The matter was sent back to trial court to presumably litigate the issues of agency and fraud.

Bottom Line: The lessons of Royal Links and NorVergence should be well known to most leasing professionals.

If the vendor is selling something without any intrinsic value, coupled with fraudulent inducement of the equipment's attributes or revenue potential, the equipment lessor may not be able to paper over the fraud with lease terms.

All vendors need to be scrupulously vetted, and deals need to make sense based on the residual equipment value where the equipment is suspect. In this case, selling a $1,000 trailer for $15,000 made no sense, and some courts will find a way to pass that risk onto the lender, where fraud is proven.

C&J Appeal Decision:
http://www.leasingnews.org/PDF/CJCase.pdf

 

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

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

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

 

 

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“How do I prepare for an employment test?”
Career Crossroad---By Emily Fitzpatrick/RII

Question: How do I prepare for testing? I have gone through a series of interviews with a potential new employer and all seems to be going well; however, my next step is taking a skills test (I think a personality test as well). Do you have any suggestions on how to prepare?

Answer: Note that there are five different types of tests that you may encounter in the hiring process:

• Aptitude
• Integrity
• Personality
• Personnel Selection
• Skills

Aptitude can be a general education test, usually multiple choice, as well as integrity can be this type or a choice of right or wrong answers

Personality Testing

Employers use these tests frequently to screen candidates because they believe that certain personality traits are required for success in a particular position. There are two basic types:

Projective

• These tests are geared to understand how you deal with tough issues and usually ask you to tell a story, finish a sentence, etc…

• These tests search for analytical and system thinking skills, and look at decision-making and consensus-building styles

Objective

• These types of tests are a series of questions using some sort of rating scale

Skills Testing

There are tests to measure every possible skill (e.g. computer programs, math, credit, comprehension, etc…). For example – a credit analyst might have to review a sample lease transaction, conduct spreadsheet analysis, prepare a mock credit write-up, and actually make a presentation. It is hard to argue against some of these tests – as long as the employer is measuring an important skill, testing skills makes sense.

Remember

• Never consider answering a test from the viewpoint of your innermost beliefs

• Look at yourself from the employer’s point of view

• Think of people you’ve known who have failed on the job

• Think of people you’ve known who have succeeded on the job

Tips

• If in doubt, guess
  If given a skills test, ask for a practice section (brush up on your skills even before you begin any interview
• Check your answers and make sure they are written in the right place
• Be honest – if you do not admit to any negative behaviors, you could be pegged as a “faker” (who are sometimes viewed as being eager to please)

 

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone: 954-885-9241
Cell: 954-612-0567
emily@riirecruit.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO

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

Small Ticket Leasing Sales Reps No Book/Relationships Required No Need for Relocation Chicagoland/Northeast/Southern Cal Contact: info@riirecruit.com www.riirecruit.com "Committed to our Clients to Produce Timely and Effective Results"

 

Top Five Leasing Web Sites—
in North America

Top Five Sites Under 300
(The lower the rating, the higher of the list of web sites visited
the most, according to Alexa.com)

While this may not be scientific, over 100 web sites were originally viewed. Not included were bank sites that most often have their leasing division as part of the sites, but the main point was the use of the web site.

It appears most leasing web sites are not interactive, but remain primarily a “brochure.” Many do not have specific people with emails to contact as well as are basically "unfriendly."

There is a growing trend for “chat now” and offering more information, but still many are not kept up to date, as well as several have “defunct” associations logos such as EAEL and UAEL. In checking several no longer belong to any association.

These five sites are also active on so-called “social sites.”

 

www.directcapital.com
US Alexa Traffic Rating: 102,508
WWW: 368,562
Sites linking in: 315

http://www.balboacapital.com/home.aspx
US Alexa Traffic Rating: 177,643
WWW: 550,018
Sites Linking in: 259

(Note: Balboa Capital is listed in both:
www.leasingcomplaints.com (Be Careful of Doing Business)
www.evergreenleasingnews.org )

www.fivepointcapital.com/
US Alexa Traffic Rating: 198,450
WWW: 1,271,814
Sites Linking in: 65

www.cit.com
US Alexa Traffic Rating 202,071
WWW: 348,692
Sites Linking in: 479

 

www.greatamerica.com
US Alexa Traffic Rating: 279,603
WWW: 1,608,501
Sites Linking in: 95

(July 7, 2013)

Back Office Companies

These are companies who offer complete operations of a leasing portfolio, often to captive lessors, lessors who want to concentrate on sales and marketing, banks and financial institutions who want to expense this operation rather than host it, as well as leasing companies starting up or winding down.

They have criteria of minimum number of accounts, dollar sizes, geography, even specializing in certain aspects of operation.

The following provided information for this list:

Advance Property Tax Compliance	Group 88 Systems, Inc.	OutSourcing Solutions Group, LLC
Barrett Management Corp.	Haws Consulting Group	Phoenix Leasing Portfolio Srvcs., Inc.
Bank of the West	JDR Solutions	Portfolio Financial Servicing Co.
ECS Financial Services	LeaseDimensions, Inc.	RPC Property Tax Advisors, LLC
EquipmentEngine Financial  Services Company	Madison Capital, LLC
GreatAmerica Portfolio  Services Group LLC	Orion First Financial, LLC

(Listing is Free)

Full list:
http://www.leasingnews.org/Ag_leasing/backoffice.htm

Classified: This list may have some from the above list, but also contains
smaller "back operation" services, primarily for smaller size clients (listing is free):
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm#sec3

Posting Instructions:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

John Kenny Receivables Management • End of Lease Negotiations & Enforcement• Fraud Investigations • Credit Investigations • Asset Searches  • Skip-tracing • Third-party Commercial Collections john@jkrmdirect.com | ph 315-866-1167| www.jkrmdirect.com

(Leasing News provides this ad as a trade for investigations
and background information provided by John Kenny)

 

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Site Inspection Services

These companies supplied information about their services:

Asset Appraisals Services	Inspection Services
Asset Management Associates, LLC	LeaseInspection.com
Bee-Line Corporation	Morgen Industries, Inc.
C. and A. Courier Inspection
C&C Asset management, Inc.	QuikTrak, Inc.
Collateral Specialists Inc.	RTR Services, Inc.
Douglas Guardian Services Corp.	Railroad Technology Corporation
Dover Management Group, Inc.	SecureTrac, Inc.
EquipmentEngine, LLC	USA Green Asset Portfolio Protection

(Listing is Free)

Full List:
http://www.leasingnews.org/Site_Insp/Default.htm

Classified:This list may include some of those above, but also contains those involved in specific geographic areas (Listing is free).
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm#sec9

Posting Instructions: http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

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

Leasing News Advisor 
Shawn Halladay

Shawn Halladay has been a frequent contributor of articles, particularly regarding accounting, changes to FASB rules, tax rulings, as well as covering several of the Equipment Leasing and Finance Association events and conferences. He joined the Leasing News Advisory Board on April 17, 2006.

Shawn D. Halladay
124 South 400 East, Suite 310
Salt Lake City, UT 84111
801/322-4499
801/322-5454 fax
shalladay@thealtagroup.com
www.thealtagroup.com

Shawn is Managing Director of The Alta Group's Professional Development practice area and has authored or co-authored eight books on equipment leasing, including "A Guide to Equipment Leasing," "A Guide to Accounting for Leases" and "The Handbook of Equipment Leasing."

His professional expertise stretches across all leasing sectors and around the globe. Based in Salt Lake City, Utah, he has served lessors throughout North and South America, Africa, Asia, and Europe, providing training in all aspects of equipment leasing. His consulting services include implementing best practices, benchmarking studies, strategic planning, leasing system selection and implementation, litigation support, accounting, and quantitative analyses.

He likes to travel as an excuse to attend soccer games, one of his passions.

Leasing News
Chairman, Advisory Board
Bob Teichman, CLP	Teichman Financial Training, Sausalito, CA.
Advisory Board
Ed Castagna	InPlace Auction, Melville, NY
Steve Crane, CLP	CLP, Bank of the West, San Ramon, CA
Dale Davis	Endeavor Financial Services, Costa Mesa , CA
Phil Dushey	Global Financial Services, Manhattan, NY
Ken Greene, Esq.	Hamrick & Evans, Universal City, CA
Shawn D. Halladay	The Alta Group, Salt Lake City, UT
Robert S. Kieve	Empire Broadcasting, San Jose, CA
Bruce Kropschot	Kropschot Financial Services, The Villages, FL
Bruce Lurie	Douglas-Guardian Services Corporation, Houston, TX
Andrew Lea	HCL CapitalStream, Pt. Richmond, CA
Allan Levine	Madison Capital, LLC., Owings Mills, MD
Ralph Mango	ComScore, Reston, Virginia
Don Myerson	BSB Leasing, Colorado, Hawaii
Armon L. Mills, CPA	J.H. Cohn, LLP, San Diego, CA
Tom McCurnin	Barton, Klugman & Oetting, Los Angeles, CA
Hugh Swandel	The Alta Group, Canada
Paul Weiss	Panthera Leasing, San Francisco, CA
Rosanne Wilson, CLP	1st Independent Leasing, Beaverton, OR
Ginny Young	former Brava Capital, Orange, CA

Editor/Publisher
Christopher Menkin	Saratoga, California

 

 

[headlines]
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Ten Top Stories July 9-11
(You May Have Missed)

Here are the top stories opened by readers:

(1) Lovely Ladies of Leasing Visit Temecula Wineries
By Tamara McCourt, CCE, CLP
http://leasingnews.org/archives/Jul2013/7_11.htm#lovely

(2) Archives--July 9, 2010
Memorial for Shawn Giffin
http://leasingnews.org/archives/Jul2013/7_09.htm#archives

(3) Leasing 102 by Mr. Terry Winders, CLP
Captive Lessor Private Label Leasing
http://leasingnews.org/archives/Jul2013/7_09.htm#captive

(4) BBB Leasing Company Ratings
July 8, 2013
http://leasingnews.org/archives/Jul2013/7_09.htm#bbb

(6) California Finance Lenders License Change
http://leasingnews.org/archives/Jul2013/7_09.htm#license

(7) California Federal Court throws Monkey Wrench
Into 5% Late Payment Fee Provision By Tom McCurnin
http://leasingnews.org/archives/Jul2013/7_09.htm#wrench

(8) Cartoon---Son Response to Father’s Fall
http://leasingnews.org/archives/Jul2013/7_09.htm#cartoon

(9) Diet soda may do more harm than good
http://thechart.blogs.cnn.com/2013/07/10/diet-soda-may-do-more-harm-than-good/?hpt=hp_t2

(10) Sales Make it Happen by Christopher "Kit" Menkin
“You become what you attract”
http://leasingnews.org/archives/Jul2013/7_11.htm#sales

 

 

 

[headlines]
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Classified ads—Asset Management

Leasing Industry Outsourcing
(Providing Services and Products)

leasingnews.org/Classified/Outsourcing/Outsourcing.htm#sec2

 

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:www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

 

Labrador Mix
Austin, Texas Adopt-a-Dog

Macy
Age: 6-8 months
Breed: Lab/hound mix
Gender: Female
Available for Adoption: ---
Cats: Unknown
Kids under 8: Unknown
Adult Weight: 50-60bs.
$165 Adoption Fee

“Macy is a very sleek-bodied and athletic puppy. She plays well with other dogs and is learning her basic commands. Very Loving and sweet girl, Macy is always ready to play just say the word! She is kennel trained and working currently on house training (so far only one accident), and I am pleased to say that she has already worked the poochie bells! What a smart girl!”

Process: http://austindog.org/adopt/the-adoption-process

Application: http://austindog.org/adopt/adoption-application

Adoption Coordinator:
http://austindog.org/contact-us/adoption-coordinator

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/

 

News Briefs----

Mortgages reach highest levels in 2 years
http://www.bankrate.com/finance/mortgages/mortgage-analysis.aspx?ic_id=Top_Financial%20News%20Center_link_1

Consumers going for longer car loans
http://www.upi.com/Business_News/2013/07/12/Consumers-going-for-longer-car-loans/UPI-43881373657702/

Amar G. Bose, 83, founder of audio tech Bose Corp., dies
http://www.washingtonpost.com/business/amar-g-bose-83-founder-of-audio-tech-company-bose-corp-dies/2013/07/14/797fcc6e-ebec-11e2-aa9f-c03a72e2d342_story.html

 

[headlines]
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---You May Have Missed

10 Free Travel Apps You've Never Heard Of
http://www.smartertravel.com/photo-galleries/editorial/10-free-travel-apps-youve-never-heard-of.html?id=354&max_photos=7

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

SparkPeople--Live Healthier and Longer

 

7 Simple Ways to Reclaim an Hour a Day
Finding Your 25th Hour
http://www.sparkpeople.com/resource/wellness_articles.asp?id=1734

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

Baseball Poem

After the Game From the book That Sweet Diamond  by Paul B. Janeczko, Carole Katchen  (Illustrator)

Bases yanked.
Infield groomed.
Tarp pulled
to the edge of the outfield grass,
smoothed.
Lowered flags folded.
Hisst, hisst, hisst of brooms
sweeping aisles and ramps.

Section by section,
the lights go out
until the field is dark,
and the ghosts of players
gone
to other lives
long
for another game
on that sweet diamond.

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

Sports Briefs----

Lincecum proved we have no idea what Giants’ future holds
http://overtime.blogs.pressdemocrat.com/10888/lincecum-proved-we-have-no-idea-what-giants-future-holds/

Hernandez accomplice labeled a 'rat' in his neighborhood
http://www.usatoday.com/story/sports/nfl/2013/07/14/hernandez-accomplice-cant-go-home-again/2516547/

NFL roundup: HOF removes Hernandez photo
http://sports.yahoo.com/news/nfl-roundup-hof-removes-hernandez-235035090--nfl.html

Teen Spieth Wins John Deere Classic on Fifth Playoff Hole
http://www.nytimes.com/reuters/2013/07/14/sports/golf/14reuters-golf-pga-winner.html?hp

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

California Nuts Briefs---

 

S.F. Bay Bridge’s on again, off again, on again fix
http://blog.sfgate.com/matierandross/2013/07/14/bridge-troubles/

 

[headlines]
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“Gimme that Wine”

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

‘Poor man’s wine auction’ closed due to violation
http://napavalleyregister.com/news/local/poor-man-s-wine-auction-closed-due-to-violation/article_0d9eed34-eb58-11e2-9757-0019bb2963f4.html

Mike Grgich honored
http://napavalleyregister.com/lifestyles/food-and-cooking/wine/grgich-honored/image_5af86740-ea40-11e2-b221-001a4bcf887a.html

San Francisco Wine School Offers Online Program
http://www.winebusiness.com/news/?go=getArticle&dataid=119084

Nova Scotia Winery bus back for second year
http://www.atlanticfarmfocus.ca/NB-NL-NS-PEI/2013-07-11/article-3310453/Winery-bus-back-for-second-year/1

 

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

     1099- The Muslim citizens of Jerusalem surrendered their city to the armies of the First Crusade. The Crusaders then proceeded, through misguided religious zeal, to massacre thousands of unarmed men, women and children.” The western sources are briskly uncontrite in their descriptions of the carnage, indicating that the chroniclers were no more dismayed than were the perpetrators. But the Muslim world would never forget or forgive the Crusaders' behavior. Jerusalem was a holy city to the Muslims as much as it was to the Christians. The looting of sacred shrines and the slaughter of innocents confirmed the general Muslim opinion that the Westerners were savage barbarians with no faith at all save in blood and wealth.http://crusades.boisestate.edu/1st/27.htm
http://crusades.boisestate.edu/1st/28.htm
http://www.fidnet.com/~weid/crusadesII.htm#basic
http://www.fordham.edu/halsall/basis/AnnaComnena-Alexiad11.html
    1741 - Vitus Bering, a Danish mariner working for Russia, landed on the Alaskan coast. 
    1779-birthday of Clement Clarke Moore, American author and teacher, best remembered for his popular verse, “ A Visit from Saint Nicholas,” ( “Twas the Night Before Christmas”), which was first published anonymously and without Moore's knowledge in a newspaper, December 23,1823.  Moore was born at New York, NY, and died Newport, RI, July 10,1863.
http://urbanlegends.about.com/library/weekly/aa121097.htm
    1779-The first medal awarded by the Continental Congress to a “foreigner” was a silver medal present to Lieutenant Colonel Francois Louis Teisseidre de Fleury, who commanded the first of the storming parties in the assault upon Stony Point, NY, on July 15,1779.  He was the first man to enter the main fort and strike down the British flag with his own hands. Fleury, who had been in the French military service, joined the Continental Army in 1777. Lieutenant Colonel Francois Louis Teisseidre de Fleury
http://www.army.mil/cmh-pg/books/revwar/contarmy/CA-06.htm
    1779-African-American Pompey Lamb, noted spy, aids the American Revolutionary  War effort.” Blacks were also used effectively as spies by the Continental Army. The most notable was Pompey Lamb, who opened the way for the capture of Stoney Point by General Anthony Wayne, on July 15, 1779.” 
http://hallkidshistory.com/united_states/360.shtml
    1792-the first major bridge built was the West Boston Bridge, connecting Boston, MA, and Cambridge, MA.  It opened November 23,1793 after costing $76,000.   The toll right was granted to the proprietors for 70 years.
    1806 - Zebulon Pike, the U.S. Army officer who in 1805 led an exploring party in search of the source of the Mississippi River, sets off with a new expedition to explore the American Southwest. Pike and his men left Missouri and traveled through the present-day states of Kansas and Nebraska before reaching Colorado, where he spotted the famous mountain later named in his honor. He traveled to New Mexico and then traveled through Texas. The information he provided about the U.S. territory in Kansas and Colorado was a great impetus for future U.S. settlement, and his reports about the weakness of Spanish authority in the Southwest stirred talk of future U.S. annexation. Pike later served as a brigadier general during the War of 1812, and in April 1813 he was killed by a British gunpowder bomb after leading a successful attack on York, Canada.
    1822—public schools for Blacks open in Philadelphia.
    1830 - 3 Indian tribes, Sioux, Sak & Fox, signed a treaty giving the US most of Minnesota, Iowa & Missouri. 
    1837 -- US: Smallpox epidemic reaches the Mandan in Dakota Territory; out of 1,600 people, only 125 survive:
Russell Freedman describes the epidemic:
"The Mandans were the first to be stricken, followed in swift succession by the Hidatsas, the Assiniboins, the Arikaras, the Sioux, and the Blackfeet."
In the 17th century, there were 30,000 Narragansett in Massachusetts. Their chief Miantonomo, "sensing danger, . . . sought to build on his Mohawk alliance to create a general Amerindian resistance movement." He is reported to have said to the Montauk in 1642: "We [must] be one as they [the English] are, otherwise we shall all be gone shortly, for you know our fathers had plenty of deer and skins, our plains were full of deer, as also our woods, and of [turkeys], and our coves full of fish and fowl. But these English having gotten our land, they with scythes cut down the grass, and with axes fell the trees; their cows and horses eat the grass, and their hogs spoil our clam banks, and we shall all be starved."
http://www.watchtower.org/library/g/1996/9/8/how_their_world_was_lost.htm
    1850—Birthday of Frances Xavier "Mother" Cabrini - Italian-born U.S. nun. FXC, an amazing organizer, Cabrini was canonized by the Roman Catholic Church.
 She founded 67 institutions such as orphanages, hospitals, and girls' schools and did remarkable work with the poor in major American cities. She is now unique in New York  in being the only saint whose entire body is on display for the faithful. Her body was laid to rest forever under the alter in the Chapel at Mother Cabrini High School. (The saint's head is at another location in Italy.) 
http://www.den-cabrini-shrine.org/saintfrancesxaviercabrinihistory.htm
http://www.fordham.edu/halsall/medny/mccabe.html
    1862-Major David Hunter declares Blacks are no longer slaves in Georgia, Florida, South Carolina.  President Lincoln annuls the order saying basically
it wasn't “official.” http://www.coax.net/people/lwf/dh_proc.htm The first black troops were organized by Major General David Hunter in the Union's First Carolina Regiment.  Many of the soldiers were former slaves. In August, General Jim Lane, an abolitionist and who some called and outlaw and renegade, over the opposition of Secretary of War Edwin Stanton, organized a black regiment in Kansas. General Benjamin Butler also reversed his position and decided to recruit free blacks, however, no one asked the recruits whether they had been free men of slaves before the war. Despite War Department specific approval, General Butler quickly mustered into federal service the 1st, 2nd, and 3rd Regiments of the Louisiana Native Guards. It was reported that the commanders of the units had offered their services to the Confederacy and was turned down. The leaders, Free Persons of Color, were wealthy, well educated, property owners, and some were slave owners, and at the time while offering their services to the Confederacy were afraid the Union forces would confiscate their property.
http://www.coax.net/people/lwf/hisusct.htm 
http://www.coax.net/people/lwf/usct.htm
http://www.coax.net/people/lwf/beau_nat.htm 
    1867---Birthday of Maggie Lena Walker - U.S. banker. She was the daughter of a former slave who devoted her time to black fraternal and cooperative insurance organizations.   Through her very keen business acumen, MLW created one of the greatest black- owned banks in the nation, the Penny Savings Bank in Richmond, Va.
http://www.websn.com/Pride/Pride/maggie_lena_walker.htm
http://www.distinguishedwomen.com/biographies/walker-ml.html
http://www.nps.gov/malw/details.htm
http://mdmd.essortment.com/maggielenawalk_rglv.htm
    1904-Birthday of Dorothy Fields - U.S. lyricist and producer who was elected to the Songwriters' Hall of Fame in 1971, the first woman so honored. Some of her songs are "I Can't Give You Anything But Love," "On the Sunny Side of the Street," "I'm in the Mood for Love," "Lovely to Look at," and "The Way You Look Tonight."    The way you look garnered Fields the 1936 Academy Award. She wrote almost 400 songs as well as books for Broadway shows including Annie Get Your Gun.   She won a Tony and Grammy for her work on Redhead (1959). She also produced such Broadway musicals as Sweet Charity and Seesaw.
http://www.dorothyfields.co.uk/
http://www.nodanw.com/biographies/dorothy_fields.htm
    1910-birthday of Sam Washboard ( Robert Brown ), famous washboard player, Walnut Ridge, AR
http://www.blueflamecafe.com/index.html
    1913-the first US Senator elected by popular vote was Augustus Octavius Bacon, Democrat of Georgia.  The passage of the 17th amendment to the Constitution called for elections, before that they were appointed by the state legislature.   The first general election by popular vote took place on November 4, 1913.
http://www.sacklunch.net/biography/B/AugustusOctaviusBacon.html
http://bioguide.congress.gov/scripts/biodisplay.pl?index=B000014
    1916 - A dying South Atlantic Coast storm produced torrential rains in the southern Appalachian Mountains. Altapass, NC, was drenched with more than 22 inches of rain, a 24 hour rainfall record for the state. Flooding resulted in considerable damage, particularly to railroads. 
    1918-General Erich Ludendorff launced Germany's fifth, and last, offensive to break through the Chateau-Thierry salient. This all-out effort involved three armies branching out from Rheims to cross the Marne River.  The Germans were successful in crossing the Marne near Chateau-Thierry before American, British, and Italian divisions stopped their progress. Only July 18, General Foch, Commander-in Chief of the Allied troops launched a massive counteroffensive that resulted in a German retreat that continued in four months until they sued for peace in November.
    1918---HAYS, GEORGE PRICE Medal of Honor
Rank and organization: First Lieutenant, U.S. Army 10th Field Artillery, 3d Division. Place and date: Near Greves Farm, France, 14-15 July 1918. Entered service at: Okarche, Oklahoma. Born: 27 September 1892, China. G.O. No.: 34, W.D., 1919. Citation: At the very outset of the unprecedented artillery bombardment by the enemy, his line of communication was destroyed beyond repair. Despite the hazard attached to the mission of runner, he immediately set out to establish contact with the neighboring post of command and further establish liaison with 2 French batteries, visiting their position so frequently that he was mainly responsible for the accurate fire. While thus engaged, 7 horses were shot under him and he was severely wounded. His activity under most severe fire was an important factor in checking the advance of the enemy. 
    1919- legendary bebop pianist Sadik Hakim was born in Duluth, Minnesota. In the 1940's, Hakim played in New York with Ben Webster and Lester Young, and recorded with Charlie Parker. Hakim moved to Montreal in 1949 and played with Louis Metcalf's International Band. After further stints in the US with such musicians as James Moody and Buddy Tate, Hakim returned to Montreal in 1966. He was a frequent performer in both Montreal and Toronto, and on CBC radio broadcasts. Hakim became a Canadian citizen in 1972 before returning to New York four years later. He died on June 20th, 1983.
    1923-Drummer Philly Joe Jones birthday 
http://members.tripod.com/~hardbop/philly.html
http://afgen.com/philly.html
http://www.duke.edu/~sc15/bio.htm
    1928-birthday of saxophone player Joe Harriott, Kingston, Jamaica 
http://www.wnur.org/jazz/artists/vandermark.ken/interview-19980501.html
http://www.btinternet.com/~rubberneck/special.html
    1929—birthday of guitarist/author Francis Bebey.
http://africanmusic.org/artists/bebey.html 
http://web.uflib.ufl.edu/cm/africana/bebey.htm
http://www.africaexpert.org/people/data/person1980.html
    1939-- National League president Ford Frick orders two-foot screens affixed inside all foul poles after Billy Jurges of the Giants and umpire George Magerkurth spit at each other after a foul ball call down the left field line is disputed at the Polo Grounds. The American League will soon follow the Senior Circuit lead and will also install foul ball screens.
    1941-Glenn Miller, with Modernaires, cuts “Juke Box Saturday Night.”
    1944--*OTANI, KAZUO Medal of Honor Staff Sergeant Kazuo Otani distinguished himself by extraordinary heroism in action on 15 July 1944, near Pieve Di S. Luce, Italy. Advancing to attack a hill objective, Staff Sergeant Otani's platoon became pinned down in a wheat field by concentrated fire from enemy machine gun and sniper positions. Realizing the danger confronting his platoon, Staff Sergeant Otani left his cover and shot and killed a sniper who was firing with deadly effect upon the platoon. Followed by a steady stream of machine gun bullets, Staff Sergeant Otani then dashed across the open wheat field toward the foot of a cliff, and directed his men to crawl to the cover of the cliff. When the movement of the platoon drew heavy enemy fire, he dashed along the cliff toward the left flank, exposing himself to enemy fire. By attracting the attention of the enemy, he enabled the men closest to the cliff to reach cover. Organizing these men to guard against possible enemy counterattack, Staff Sergeant Otani again made his way across the open field, shouting instructions to the stranded men while continuing to draw enemy fire. Reaching the rear of the platoon position, he took partial cover in a shallow ditch and directed covering fire for the men who had begun to move forward. At this point, one of his men became seriously wounded. Ordering his men to remain under cover, Staff Sergeant Otani crawled to the wounded soldier who was lying on open ground in full view of the enemy. Dragging the wounded soldier to a shallow ditch, Staff Sergeant Otani proceeded to render first aid treatment, but was mortally wounded by machine gun fire. Staff Sergeant Otani's extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, and the United States Army.M 
    1946- singer Linda Ronstadt was born in Tucson, Arizona.  
She first gained attention in 1967 as a member of a trio called the Stone Poneys. That was the year she had a top 20 hit with "Different Drum," a song written by Mike Nesmith of the Monkees. The Stone Poneys soon broke up, and Ronstadt's solo career floundered for nearly five years until Peter Asher, formerly of the British duo of Peter and Gordon, became her manager. Under Asher's direction, she recorded the album "Heart Like a Wheel," a mixture of oldies and contemporary material, in 1974. The LP proved to be her commercial breakthrough, becoming the first of a dozen gold and platinum albums.  
Ronstadt reached the height of her popularity at the end of the 1970's when her LP "Living in the USA" surpassed the million mark in sales. At the time, she was a constant companion of California Governor Jerry Brown.  
Ronstadt continued her success into the '80s with the LP "Mad Love," two popular albums of big band ballads and "Cry Like a Rainstorm, Howl Like the Wind," a collaboration with Aaron Neville
http://www.ronstadt-linda.com/
    1948—Today in History salutes General John J. Pershing, only the second commander of the armies, World War I hero,  also known as “Black Jack” for having one of the first segregated army units in 1886, especially for his open admiration for the African-Americans under his command.
http://memory.loc.gov/ammem/today/jul15.html
    1950 - The North Koreans penetrated the U.S. 24th Infantry Division's defense and crossed the Kum River. The 19th Infantry Regiment lost 20 percent of its fighting force, the 1st Battalion alone losing 338 out of 785. The 63rd Field Artillery Battalion was overrun and sustained heavy casualties.
    1950 - F-80s accounted for 85 percent of the enemy's losses to air attack. Far East Air Forces Commander, Lieutenant General George E. Stratemeyer, stated that he wouldn't trade the F-80 for all the F-47s and F-51s he could get. "It does a wonderful job in ground support and can take care of the top-side job if enemy jets appear."
    1952-- An eight-year-old singer named Gladys Knight appears on the popular TV show Ted Mack's Amateur Hour, show on the now-defunct Dumont Television Network, and wins the first prize of $2000 for her rendition of Nat King Cole's "Too Young." In five years, she would be an established recording artist.
    1952- Popular singer Patti Page begins her summer replacement series on CBS, attempting to hold the audience in Perry Como's usual timeslot three times a week for 15 minutes.
    1954 - The temperature at Balcony Falls, VA, soared to 110 degrees to establish a state record
    1956---Top Hits
The Wayward Wind - Gogi Grant
My Prayer - The Platters
Hound Dog/Don't Be Cruel - Elvis Presley
I Want You, I Need You, I Love You - Elvis Presley officially opened by the Queen. A gala concert by the Vancouver Symphony Orchestra was conducted by Sir Ernest MacMillan and Nichol 
    1957- Elvis Presley's "(Let Me Be Your) Teddy Bear" b/w Loving You" hits #1 
    1959- the Queen Elizabeth Theatre in Vancouver was as Goldschmidt, with soloists Betty-Jean Hagen, violin, and soprano Lois Marshall. The theatre was actually first used four days earlier for a concert by the Vancouver Symphony.
1960 Giant Willie McCovey 'invisible triple' causes the umpires to call a twenty-four minute fog delay at Candlestick Park, but the Dodgers go on to win 5-3.1963-Count Basie and Ella Fitzgerald record “ Ella and Basie” album for Verve, oneof Barbara Lowe's favorites.
http://www.amazon.com/exec/obidos/ASIN/B0000046SO/102-8917386-9557756
    1963-Elvis begins filming the movie Viva Las Vegas with Ann-Margaret. 
    1964---Top Hits
I Get Around - The Beach Boys
Memphis - Johnny Rivers
Rag Doll - The 4 Seasons
My Heart Skips a Beat - Buck Owens
    1965 - The unmanned spacecraft Mariner 4 passes over Mars at an altitude of 6,000 feet and sends back to Earth the first close-up images of the red planet. 
    1966 - Singer Percy Sledge earned a gold record for "When a Man Loves a Woman". It was his only song to make it to number one (5/28/66) and the only one of five to break into the top ten. 
    1968-A Soviet Aeroflot jet landed at Kennedy  Airport at New York, NY, and the start of direct commercial air flight between the US and the then USSR began.
    1968-“One Life to Live” premiered on TV.  Set in a fictional Pennsylvania town, the show was created by Agnes Nixon to depict the class and ethnic struggles of the down's denizens. The initial cast featured many Jewish, Polish, and African American characters. The show departed from inter-ethnic storytelling in the 1980's for far more fantastic adventures set in locals such as heaven, the old west, and a futuristic mountain silo called Eternia. Since then, the show has returned to its strengths of traditional storytelling by featuring Latino  and African American actors as integral characters.  Award-winning actress Erika Slezak heads the cast a the venerable Viki Lord Riley Buchanan Carpenter, the town's matron with five alternate personalities.  Among those who have appeared on “OLTL” are Tom Berenger, Judity Light,Robert Desiderio, Tommy Lee Jones, Laurence Fishburne, Jameson Parker, Phylis Rashad, Christine Ebersole, Richard Grieco, Blain Underwood, Joe Lando, Audrey Landers, Christian Slater and Yasmine Bleeth.     
    1968 - Intel was founded. Robert Noyce and Gordon Moore had left Fairchild Semiconductor to form NM Electronics in Mountain View, Ca. In 1997 Tim Jackson published "Inside Intel: Andrew Grove and the Rise of the World's Most Powerful Chip Company." Grove joined Intel in this year and became its president in 1979. They bought the rights to the name Intel from Intelco for $15,000.
    1969--Jul 15,-Jul 20, 1969 B.B. King, Elvin Bishop Group, Love Sculpture, Country Joe & the Fish Joe Cocker & The Grease Band, @ San Francisco Fillmore West.
    1971 - In a surprise announcement, President Richard Nixon says that he will visit Beijing, China, before May 1972
    1972- Elton John's Honky Chateau hits #1 
    1972---Top Hits
Lean on Me - Bill Withers
Too Late to Turn Back Now - Cornelius Brothers & Sister Rose
Brandy (You're a Fine Girl) - Looking Glass
Made in Japan - Buck Owens 
    1973-San Francisco Giant's Willie McCovey becomes 15th to hit 400 HRs.
    1973- Angel Nolan Ryan pitches his second no-hitter of the season defeating the Tigers, 6-0 in front of 41,411 fans in Detroit. Ump Ron Luciano doesn't permit Norm Cash to use a piano leg instead of a bat in the ninth inning.
    1980- pop stars Linda Ronstadt and Rex Smith opened at the New York Shakespeare Festival in a production of Gilbert and Sullivan's "The Pirates of Penzance." The production moved to Broadway in 1981, and Ronstadt and Smith both starred in a later movie version.  
    1980---Top Hits
Coming Up - Paul McCartney & Wings
It's Still Rock & Roll to Me - Billy Joel
Little Jeannie - Elton John
You Win Again - Charley Pride
    1986- Columbia Records dropped country star Johnny Cash after 28 years. Cash had not had a solo top-ten hit since "The Baron" in 1981. But he was a member of "The Highwaymen" quartet with Waylon Jennings, Willie Nelson and Kris Kristofferson that hit the top of the country charts in 1985. Cash signed a new recording contract with Polygram later in '861987 - Unseasonably cool weather spread into the south central and eastern U.S. Fifteen cities reported record low temperatures for the date, including Houghton Lake, MI, with a reading of 37 degrees. The high temperature for the date of 58 degrees at Flint, MI, was their coolest of record for July. Thunderstorms spawned several tornadoes in Illinois and Indiana, injuring a cow near Donovan, IL
    1988-- For the second time this season, Red Sox fireballer Roger Clemens strikes out sixteen Royals. The doubleheader sweep over Kansas City marks Joe Morgan's Boston managerial debut.
    1988---Top Hits
The Flame - Cheap Trick
Mercedes Boy - Pebbles
Pour Some Sugar on Me - Def Lappard
Fallin' Again – Alabama
    1988 - Twenty-six cities east of the Mississippi River reported record high temperatures for the date. Charleston, WV, established an all- time record high with a reading of 103 degrees, and Chicago, IL, reported a record fifth day of 100 degree heat for the year. A severe thunderstorm moving across Omaha, NE, and the Council Bluffs area of west central Iowa spawned three tornadoes which injured 88 persons, and also produced high winds which injured 18 others. Winds at the Omaha Eppley Airport reached 92 mph. Damage from the storm was estimated at 43 million dollars.
    1989- more than 200,000 people crammed into Venice, a city of 83,000, for a free concert by Pink Floyd. The band performed on a floating stage in the Venice lagoon. Residents complained about violence, drug use and littering, and 80 people were slightly hurt in a scuffle before the show began. Concert-goers complained, too ... about inadequate toilets and emergency facilities. 
    1989 - Thunderstorms drenched Kansas City, MO, with 4.16 inches of rain, a record for the date. Two and a half inches of rain deluged the city between Noon and 1 PM. Afternoon thunderstorms in South Carolina deluged Williamstown with six inches of rain in ninety minutes, including four inches in little more than half an hour
    1993-- Breaking Cub Hall of Fame Ernie Banks' previous record of 277, Cal Ripken hits his 278th homer as a shortstop, the most ever hit by a major leaguer playing that position.
1994-the first move to cost more than $100 million to make was “True Lies,” a 20th Century-Fox action-adventure film directed by James Cameron and starring Arnold Schwarzenneger and Jamie Lee Curtis.  It opened nationwide on July 15.  Though exact figures were not released by the studio, the film was estimated to have cost $115 million.
    1996- The sultan of Brunei spent $25 million on his 50th birthday party, including $15 million for three concerts by Michael Jackson
    1997 - Fashion designer Gianni Versace was shot to death on the steps of his mansion in Miami Beach, Florida. Police believe Andrew Phillip Cunanan shot Versace. Cunanan committed suicide a week later on a houseboat about two miles north of the Versace mansion. Cunanan is suspected of killing four other men in a cross-country shooting spree. 
    1999--- The Brewers postpone game as a gesture of respect for the three workers who died when a huge crane collapsed lifting a portion of the roof for the team's new stadium, Miller Park. The crane broke in half as it lifted the 400-ton load damaging the partially completed stadium.
    1999-The Rolling Stones reported that they had an intake of over $337 million from the previous two years. The average nightly take on the 147 shows was over $2¼ million, as the band played to more than 5.6 million people, selling out all but 20 shows. 
    2000- Bob Seger's 62-foot boat Lightning wins its division in the 78th annual sailboat race from Port Huron to Mackinac Island, MI.
    2000 --The American Tobacco Company's near-mint condition 1909 Honus Wagner card goes for $1.1 million in an eBay online auction; the high bidder will pay $1.265 million including a 15 percent buyer's premium for the 91 year-old card of the Hall of Fame Pirate shortstop.
    2009-Paul McCartney took time out from his current tour to stop by The Late Show with David Letterman where he and his band thrilled the crowd by performing at the outdoor stage atop the Ed Sullivan Theater.