Leasing News

Top 25 Most Influential People Leasing Industry-Final
by Christopher Menkin, Publisher

May 18th Leasing News announced "Looking for nominations for the Top 25 most influential people in the leasing business that are still alive. They may be retired or still active.

"Would like a nomination and one or two sentences as the reasons you consider this person one of the top 25.

"'Influential' as 'a person whose actions and opinions strongly influence the course of events' {Online Dictionary}."

When a nomination was submitted that didn't seem to fit the caliber of those on the list, the editor decided not to include them.

When the nominations were originally accepted, the descriptions were printed as originally received. Several were up-dated by readers.

In both editing the descriptions, trying to make them shorter, correcting syntax, grammar, and pairing down the list over several days, off and on, as the list was over 50, I began to realize something---then it jumped right in my face: There were two groups here.

My view found Industry Contributions and Transactions. The list then was downsized to the top 25 Most Influential in each category:

There are the top 25 influential people who had an impact upon industry policies, government relations, education, practices, standards, ethics and approaches, as submitted by the readers of Leasing News. They are recognized for their mentoring, educating, providing leadership and setting an example for others to follow; making contributions to the industry in this form of major influence.

Jim Adler-Jim created a lease document that was the most widely used in the industry while at Colonial Pacific Leasing Corporation. All lenders accepted it and many lessors made it their standard document. Jim being available to explain the document and how to use it to my advantage in marketing and enforcement. Though this is a marketing driven industry without an ironclad document; none of us would be successful.

Sudhir P. Amembal-Respected worldwide, author, lecturer, leader of international conferences and to name the leasing companies he has served as a consultant would fill up this page. He has been partners in several leasing ventures and services, as well as current co-publisher of WorldLeasingNews.com. As a publisher and author he has published 12 and co-authored 14 books on leasing including the international bestseller, The Handbook of Equipment Leasing. A keynote speaker not only to international and US conferences, but sought after by all US leasing associations. His greatest gift: education. One of his best assets: His sense of humor.
http://www.amembalandassociates.com/whoweare.html

Joe Bonnano, CLP --- He and Barry Marks should be credited with the great help they gave in the formation and beginning of the National Association of Equipment Brokers. In 1998, Barry left from alternating as the Legal Counsel for the association. Joe has not only contributed much here, but also to members and non-members with legal questions and dilemma's, and brought the progress of education, ethics, and good will, including serving on the CLP Foundation board for many years. A major influence in the leasing industry, always available to answer questions, seemingly day and night.

Hon. Ken Bentsen, Jr..-He became president of the Equipment Finance and Leasing Associations (ELFA) July 1, 2007. In this relatively short period of time, he has brought considerable attention to the media about the leasing industry, quoted often in major magazines and newspapers, appearing on radio and television, quite frequently, too. On the personal side, he is also an active member of a number of educational, civic and charitable boards, including Chairman of the Board of the Susan G. Komen For The Cure.
http://www.leasingnews.org/archives/May%202007/05-11-07.htm#eaelc

Bernie Boettigheimer- - CLP-Active in the education of the leasing industry, upon his retirement developed software, a program to protect lessors from vendor fraud as well as providing information inexpensively on vendor, lessee, and suspect behavior, and at this point, basically a financial contribution to the leasing industry.

Dennis Brown, CAE--Since 1993 he has represented the leasing industry interests to the 50 state governments, traveling the country, promoting legislation and also opposing legislation, representing not only the Equipment Leasing and Finance Association, for whom he works, but the entire finance industry. He is the only person representing the industry before the state legislatures, state elected officials, and other state entities. He has also been instrumental in the Streamline Sales Tax committee. An U.S. Army sergeant, he brings this personality to job of getting things done.
http://www.elfaonline.org/pub/about/bios/DBrown.cfm

Clark Covert- Original developer of the small-ticket, vendor leasing program & platform for the PC market. He designed and built Dell's vendor program in 1988, then later introduced the model to CompUSA, Staples, NEC, Micron, Gateway and others. He built proprietary workflow systems and automated documentation systems in the early 1990's, which produced faxed contracts and 2 hour turn-around times from application to equipment release. He introduced today's major PC funding sources to the idea of funding this equipment, and coached them on the importance of this market.

John C. Deane---Founder of The Alta Group, the major independent "think tank" to the leasing industry, with principals and associates all over the world; past president of the Equipment Leasing and Finance Association, active in it as well as the Equipment Leasing and Finance Foundation. He has served as the CFO and president of several major financial corporations. Highly respected and his opinion carries much weight in the industry world wide.

Michael J. Fleming-- 27 year growing and serving the members of the Equipment Leasing and Finance Association and Foundation. A significant number of events, publications and training courses were launched, as well as media coverage, legislative activity in Washington and the fifty states, growing a professional 25 staff, the only association today not using a management firm. A visionary, Mr. Fleming, affected the direction of leasing for everyone in the industry.
http://www.thealtagroup.com/north-america/about/bios

Shawn Halladay ---He has influenced our industry quietly from an academic and educational angle. He has authored or co-authored eight books on equipment leasing, including "A Guide to Equipment Leasing," "An Introduction to Leasing" and "The Handbook of Equipment Leasing." He is a prolific author and lecturer, considered an authority on lease accounting as well as both the intellectual and practical aspects of the world wide leasing industry.
http://www.thealtagroup.com/north-america/about/shawn-d.-halladay

Ken Greene, Esq. Key attorney for Leasing News. From potential lawsuits regarding Bulletin Board Complaints, lawsuits, "bully" letters, 1st amendment issues, competitive practice, Mr. Greene has protected Leasing News without a financial charge or complaint about his time for nine years.

Bruce Kropschot-created the channel by which leasing companies could sell to each other. Influential, yes, his focus on the leasing marketplace allowed him to obtain specialized knowledge on how to evaluate a leasing company, which continues today

John Kruse, System 1/Capital Stream, instrumental in the first low cost software for brokers and small lessors to keep track of leases, contact management, as well as automatically type contracts of many leasing companies, unheard of in its day and quite inexpensive. Developed private label programs for the one person office to compete with much larger operations. He is also known for introducing the automated front end system to the small brokerage industry.

Paul A. Larkins-Leasing News chose him as the person who has done the most for the entire equipment leasing industry in 2006. Throughout his career he has promoted education and opportunity, volunteering for many assignments in his community, in the industry, expanding his company overseas. His influence in the leasing industry, in leasing associations, and continued effort for more education is certainly now missed.
http://www.leasingnews.org/archives/March%202007/03-07-07.htm#award

Elaine Litwer- She dedicated herself to improving the leasing industry. She fought tirelessly to abolish lessor vicarious liability in New York State. She was involved in the auto industry from almost every aspect, being a lessor, a sales rep, working in the offices at GM, lobbying in Albany. She was involved in the National Leasing Vehicle Association at the state and national levels. She always was there to answer other lessor's questions.
http://www.leasingnews.org/archives/March%202007/03-07-07.htm#award

Charlie Lester - Charlie has always been an innovator in our Industry and gave his time freely to help the small broker understand the business and succeed. He helped lead the organization and success of National Association of Equipment Leasing Brokers at its inception. When Charlie had LeasePro, he was always the ultimate creditable person at all times and the word integrity was born with him. He also was instrumental in the early growth of Leasing News.

Lisa A, Levine, CAE--Executive Director of the Equipment Leasing & Finance Foundation, who has continually attracted an active board of trustees, as well as conducting and commissioning " credible, unbiased future-focused research about the equipment lease financing industry. To date, the Foundation has funded more than $1.6 million in research grants." The Journal of Equipment Lease Financing, published three times a year.
http://www.leasefoundation.org/About/

Barry Marks--He was the original National Association of Equipment Leasing Broker's attorney and a very forward thinking, bright attorney, practical businessman. He helped the organization grow along with Joe Bonanno, CLP, and many excellent volunteers. I serve on the NAELB Board and his advice and counsel helped us move forward each year. He is one of only three people to earn the Bill Granieri award.

Jim Merrilees,, CLP, first to develop a "wide area network" BLISS before the days of the internet. Steered the Pegasus dealer program, and under his watch a computer credit scoring profile for both vendor and broker business in a highly quick process. The internet version of BLISS, BLISSnet, was created long after Jim had left the company. Where I see Jim's "influence" is through his contribution to the issues found in the industry.

Paul Menzel, CLP- Highest of ethics, good clean portfolios, quality leader. He has been active in two leasing associations himself, also supporting others, giving his time to the industry for many years. Paul is a leader who believes in "do as I do, not as I say". He has set a great example for all his years in the industry. (He also is the First Leasing News Person of the Year: http://www.leasingnews.org/archives/January%202006/01-03-06.htm#person editor)

Deborah Monosson--- A role model for women in leasing, active on the board at the Equipment Leasing and Finance Association, Equipment Leasing and Finance Foundation, first female president of the Commercial Finance Association, serving on many committees, very active and outspoken.
http://boston.bizjournals.com/boston/stories/2009/05/11/story5.html?b=1242014400%5E1825253

Gerald F. Parrotto --- owner, publisher and executive editor of Xander Media Group, Inc., which publishes the Monitor and ABF Journal, as well as the Monitor On Line, an internet trade publication for the finance and leasing industry. Creator of the Monitor 100, a financial industry standard, annual analysis of the financial industry. The publications under his direction have a long time readership and are highly respected for their articles, insight, and news. He is also owner of Malloy Associates, Inc. "regarded as a premier executive search firm serving the Equipment Leasing Industry nationwide."

Ralph Petta --- On the staff of the Equipment Leasing and Finance Association since 1987, his title puts him in charge of research and industry services. He not only oversees all industry reference but many of the surveys, including MLFI-25, salary, but all key accounting and financial reporting, as well as serving as staff liaison to many of the key committees. His work throughout the years at ELFA has had a profound affect to the entire finance and leasing industry.
http://www.elfaonline.org/pub/about/bios/RPetta.cfm

Robert Teichman, CLP --Bob has probably instructed more currently influential people in the equipment leasing industry than any other individual. He has given and participated in an incalculable number of seminars and workshops. Since the inception of the CLP program which he was instrumental in developing, he has been a primary instructor of classes for those preparing to take the CLP exam. These accomplishments and many more were recognized at the 2009 NAELB Annual Meeting where he received a commemorative trophy recognizing him as the "Leasing News" Equipment Leasing Person of the Year. I cannot imagine anyone who has had a greater positive influence on the industry by raising the educational bar and thus raising the performance level of the entire industry. He should be at the top of your list.
http://www.leasingnews.org/Advisory%20Board/Teichman_Bob.htm

Mr. Terry Winders, CLP---He writes the column Leasing #102 every week since 2006, which I never miss for the information that it provides, always topical. The column states he has been a teacher, consultant, expert witness for the leasing industry for thirty years. He has given seminars for the Equipment Finance and Leasing Association for years, as well as other groups, including the Certified Leasing Professional Foundation. I could not find a biography, but he definitely has been an influence on keeping my staff abreast on leasing and financing in's and outs and how it affects my company.

Joe Woodley, CLP--1988 president of the Western Association of Equipment Lessors, now National Equipment Finance Association, volunteered and became CEO in November, 2001, when the association was rudderless, also in financial difficulties. He brought in Bill Grohe, and they moved the group into solvency as well as reaching out to other leasing association, attending their conferences, making friends, promoting education, the CLP Foundation, and has been an outstanding leader.
http://www.westoverfinancial.com/woodley.html

Equally important to advancing the industry and the interest of those in it, are those savvy practitioners that have accumulated a lifelong transaction resume that spanned many industries, structures, and resources. Leasing News gave special consideration to those whose talents bridged many segments and company affiliations larger and smaller. These persons, in designing and completing large transactions of size, or small transactions in volume, repeatedly over many years came to change the course of industry events and are widely recognized as the industry's multi-talented practitioners: The Top 25 Most Influential, according to Leasing News readers.

A.J. Batt-- Formerly the CEO & Chairman of ATEL. Batt started in the industry in 1977 and worked his way up from being a small shop in San Francisco selling off deals to banks such as BofA, to running a 150 person operation using public income funds to invest in Operating Leases for Large Ticket transactions. He wrote the first "Leasing Software" called LEAH II in the early 80's. Originally a NASA engineer Batt knew numbers… and had a reputation of using the numbers to make leases work.

Stephen C. Bieneman- Currently President and Chairman of Compass Capital Corporation. Over his 35 years in business, Bieneman financed over $5 billion of equipment and managed all integral parts of an equipment leasing organization. Prior to founding Compass in 1991, Bieneman was founder, President and Chairman of Pegasus Capital Corporation from 1988 to 1990. During that time, Pegasus became a leading operating lessor of commercial aircraft, financing over 60 commercial jet transports with a combined value in excess of $1 billion.
http://www.compasscapitalcorp.com/executives.html

John P. Colton-- Colton was the right hand man to Paul Gass as together they built Eaton Financial. His role was to attract discounters and brokers, becoming active in the industry, serving as president of the American Association of Equipment Lessors, as well as being active in other leasing associations. After Eaton was sold, Colton rejoined Paul Gass at BankVest Capital and retired in 2000.

Thomas Depping, founder of Sierra Cities and Main Street Bank; organized a large company by combining many smaller successful operations into one; major influence in securitization and how business is conducted, perhaps revolutionized the way business is done today in the private label program. What he did prove is acquiring a bunch of smaller, independent leasing companies with a strong management team is failure which did influence a course of events but in a negative way.

Al Gamper, Jr..-Formerly CIT Chairman and CEO Gamper led the company through two tumultuous periods connected with Tyco. Gamper originally joined Manufacturers Hanover, working his way up to the top, expanding the company overseas, building the company to $50 billion in assets before his retirement in 2004. His last stock raising tour was reputed to be a triumph. A leader in commercial finance who in his watch may have been a beneficial influence on the entire banking and financial industry.
http://www.cse.edu/index.php?id=1510

Paul Gass-- Gass' company, Eaton Financial, was purchased by AT&T Capital for $70 million in 1989, possibly making Gass the richest man in leasing at the time. After he sold Eaton to AT&T he became the largest individual shareholder in AT&T and was a substantial underwriter of the American Association of Equipment Lessors lease education foundation. He paired up with Greg Smith to form BankVest securitizing $30 million per month small ticket machine. (See also "John P. Colton".)

J. Stephen (Steve) Gagne-- Gagne's copier leasing company, VMS Leasing (which later became part of Dana Corporation) impacted the captive lessor market place with outsourcing from Apple, AST, Compaq, IBM, Kaypro, NEC, Ingram Micro, Tech Data and Merisel as well as MicroAge, ComputerLand, expanding to Canada, the United Kingdom, Switzerland, Germany, Austria and France. Gagne sold out to Heller Financial in late 1998 for nearly three times book value. At Heller, Gagne served as President of Global Vendor Finance until his retirement in January 2000.

Harvey Granat- Granat founded and was CEO of Granite Equipment Leasing Corp., one of the first American Stock Exchange listed leasing companies. He also was president and CEO of Sussex Leasing Corp., Sterling/Carl Marks Capital, Inc., and Past President of The American Association of Equipment Lessors. He is a frequent lecturer and contributor of articles related to financial services, and has participated at the White House Conference on Small Business.
http://harveygranatsings.com/

Stephen R. Harwood-- Former president of CIS Equipment Leasing, Harwood founded Cypress Leasing in San Francisco in 1985. In addition to operating leases, the company is a leader in purchasing existing equipment, re-leasing or providing sale/leasebacks, managing investment programs and their own lines of credit. Cypress is one of the few income fund companies to enjoy a long term track record of success while focusing on select, large ticket transactions, and at almost 25 years old Cypress is not the largest but may be the best run of the income fund companies.

Curt Lysne-Lysne was formerly head of both GE Capital and Colonial Pacific's credit department and their chief sales officer. In both capacities Lysne managed (directly or indirectly) relationships with over 400 brokers. In these roles he has a reputation of always maintaining the highest levels of professional standards and ethics. Some say he exemplifies what a leader in this industry should possess and as such acts as a great role model to others. Lysne has served on many of the industry associations and is always willing to contribute to forums and round tables.
http://leasingnews.org/PDF/Curt%20Lysne%20bio.pdf

John McCue-McCue, founder of McCue Systems (now part of NetSol International), was a leader in the development of financial software for leasing. He developed software to run on many computer systems with other software interfaces, and hence became a leader in software technology and industrial forums. McCue was once active in several associations on committees and boards, and is now retired.

Dan Michalek -- Michalek was the founder of Connor Capital Corporation (which was sold to Linc Capital, Inc.) and later founded Paynet, where he was the first chairman whose payment history reports have become the standard for larger lessors in the commercial leasing industry. Paynet is sponsored both by the Equipment Leasing and Finance Association and Experian, as well as "partnering" with InfoCentricity.
(http://www.paynetonline.com/board.aspx)

Jim Merrilees-Merrilees, now with QuikTrak, was first to develop a "wide area network" BLISS before the days of the internet. Steered the Pegasus dealer program, and under his watch a computer credit scoring profile for both vendor and broker business in a highly quick process. The internet version of BLISS, BLISSnet, was created long after Jim had left the company. Jim's "influence" is through his contribution to solving myriad issues found in the industry.

Alan J. Mogol, Attorney -Mogol, over the last 25+ years, created a large volume of the middle market lease documentation currently used by the majority of the larger bank and finance companies in the industry; including standard forms of lease documentation as well as industry standard syndication, assignment, notice of assignment, participation and motor vehicle titling trust documents. Much of what Mogol has created is considered de facto industry standard in the bank middle market space. He is a frequent lecturer and author in the equipment financing area.
http://www.ober.com/shared_resources/resume/mogol.html

Ned Mundell-- Mundell was chairman and CEO of U.S. Leasing International from the 1970s until just after the company was sold to Ford Motor Company in 1987. During that period of time, he led US Leasing to a position of being the largest independent leasing company (NYSE public company) in the United States, and amongst the largest in the world. He brought the company to international markets in Europe, Latin America, and Asia, forging banking and finance partnerships with some of the largest companies in the world. He sold the company for $68 a share in 1987, far exceeding the company's equity value in the markets at the time.

David Murray-- Murray co-founded Direct Capital/Preferred Lease, f the first telemarketing company based on computer program information, copied by many today. The company hired college students and young executives to follow a script, and then sold the originated leases off in groups to funders. He also used the TransLeasing model for using a leasing credit card. He was innovative in that he sent everyone a "pre-approved" card in a mass marketing campaign. Murray's marketing techniques are still being utilized by many companies today.

Walter Rabin-Rabin created a platform that went from start-up to over $1.4B in 10 years. His company, All Points Capital, is a major funding source for the broker community, especially in the Northeast, today it is a Capital One Bank company.

Jim Renner-- Head of Wells Fargo's leasing and equipment finance business for over 13 years, Renner led the growth of the portfolio during his tenure from $530 million to $7.5 billion. When he retired in 2005 there were 40 locations and 375 employees nationwide who make up Wells Fargo Equipment Finance, Inc. (WFEFI) in the U.S. and Canada. He was active in many committees, past chairman of the Equipment Leasing and Finance Association as well as trustee and chairman of the Equipment Leasing and Finance Foundation. Gary Shivers-- Co-founder and former president of Marlin Leasing and current President of Navitas. Shivers helped Marlin go public and it remains are one of the few micro-ticket leasing companies that has done so.

Rick Remiker---Outspoken, active, highly respected. He was president and COO, Commercial Leasing at Key Equipment Finance, managing director and group head of the equipment finance group at Merrill Lynch, and now Senior Vice President, Chief Administrative Officer of RBS Asset Finance, Inc. Your news publication has quoted him often, and noted his involvement in the industry. He speaks up and your readers listen. I know I do.

Gary Shivers--Co-founder and former president of Marlin Leasing and current President of Navitas. He helped Marlin go public and they are one of the few micro-ticket leasing companies that has done so. As a former employee at Marlin, I know that people valued him as a true sales champion and he is clearly missed there currently! I followed him to Navitas when Marlin's Chicago office closed and was pleasantly surprised that I was not the first (or likely the last) ex-Marlin employee to make this switch which should be a great testament to Gary.

Saul P. Steinberg-- Steinberg began leasing IBM Computers, forming Leasco, purchasing Reliance Insurance in 1968. For the next 30 years Steinberg used Reliance, and its steady cash flows, to finance numerous acquisitions and became a major figure in finance beyond equipment leasing.
http://en.wikipedia.org/wiki/Saul_Steinberg_(business)

Robert W. Stubbs-- Founder of Tricontinental Leasing in St. Louis, Stubbs relocated to Paramus, NJ when it was purchased by Yegen Assoc. The company was later bought by Bell Atlantic. Stubbs then bought back the TriCon leasing division and then sold it to Bell Atlantic as AT&T was breaking up in the early 80s. Stubbs was Chairman of Equipment Leasing and Finance Association prior to retiring.

Ron Wagner-Wagner is a long time veteran in the leasing industry, active in several leasing associations, 1990 WAEL President, and had an illustrious career, reputed to conduct leadership and high ethics by example. The Pentech Financial Navigator Program was run by Wagner who put together the team that successfully funded over $300 Million in small ticket leases, many already turned down by US Bank Manifest.

Paul B. Weiss-- Weiss began his career in portfolio acquisitions and became among the best known buyers of capital equipment portfolios beginning in the late 1980s. As bank credit for large acquisitions became tight in the 1990s Weiss worked on innovative financing structures including finding new ways to structure transactions that had considerable residual value upside. In partnership with Beau Clarke, Weiss acquired ICON Capital in 1996 and introduced the first sizable portfolio acquisition strategy to a public fundraising vehicle. ICON, the floundering, became one of the largest independently owned leasing companies; the largest public leasing program sponsor in that industry's history, changing the way that industry operating and causing many imitators who were unable to match ICON's dramatic success. He sold out in 2006 and today is Chairman of a San Francisco investment banking and advisory firm.

David Wiener-- Wiener structured and executed over 700 transactions totaling $2.3 billion. He has created full capital markets deal placement capabilities for 3 separate to 10 vendor finance organizations. In 1981 when the Economic Tax Recovery Act was enacted, Wiener engineered 47 tax benefit transfer leases - purportedly the most executed in the U.S. His transaction resume includes an aggregate of $195 million of financing for California's Bay Area Rapid Transit System and the New York Metropolitan Transit Authority.
http://leasingnews.org/PDF/Biography_David_Wiener.pdf

In future editions, Leasing News plans to interview those nominated to get more of their story, calling upon them for more information about their experience, advice and outlook for the finance and leasing industry.

As noted above in the Nassau Asset Management's NasTrac Quarterly Index (NQI) shows truck repossessions as being very high, no surprise to readers of Leasing News who saw SunBridge Capital file bankruptcy, other major leasing companies exit "owner-operator" and then trucks in general, such as Bank of the West Leasing, who stated only bank customer applications will they consider. Now the major funder left in the leasing business, Key Equipment Finance, announces they are exiting "the heavy and medium-duty trucking segments."

Bank of the West plans to consolidate its 1,600 San Francisco Bay Area employees to a 240,000 square foot facility at Bishop Ranch in San Ramon, California.

"The move to Bishop Ranch allows us to remain in the East Bay, accommodate future growth, enjoy greater efficiencies and provide our employees ... high-quality working conditions," Michael Shepherd, chief executive officer of Bank of the West, said in a statement.

The move doesn't consolidate all of Bank of West's San Francisco Bay Area employees as the Bank is retaining its headquarters facility at 180 Montgomery St., San Francisco. It does consolidate all of the Bank's 1600 East Bay employees plus part of the Equipment Finance Division's staff from San Francisco.

"We are excited about Bank of the West's new East Bay office facility, " Jerry Newell, CLP, Executive Vice President, Bank of the West Equipment Finance Division, told Leasing News. ". I have toured the building and Bishop Ranch office park and they are first class."

"For the Bank this is an opportunity to bring employees from 7 East Bay locations and some in San Francisco together in one corporate center. This will improve efficiencies and allow our team members to work and socialize together. The transition will occur in late 2010, which will provide time for everyone to plan for this move, including planning commute options. In addition to ample free parking, Bishop Ranch has a dedicated transportation office which has won several prestigious awards: it runs free shuttles to BART as well as arranges car pools, van pools, and bus passes.

"The Equipment Finance Division will move our Indirect, Direct and Dealer Financial Services departments now located in the East Bay, as well as our Risk Management, Servicing and Operations, and Systems departments now located in the SF Financial District, to this new facility. Our Trinity Vendor Finance unit will remain in the SF Financial District."

Steve Crane, CLP, Vice President & Marketing Manager
scrane@bankofthewest.com 888.244.0551 ext. 3899

The term "stream rate" is used to give the lessee the value of the lease payments plus any required fees or penalties in interest rate terms based on the equipment cost. However, if the question comes up in a lease discussion then you are more apt to be in into equipment finance. The stream rate question avoids the real benefits of leasing and only compares interest rates and usually causes the lessee to question the purchase option at lease termination to add it to your stream rate to determine what they think the total cost will be. Therefore, everyone wants to know how to dance around the subject and how to disguise the real cost in a lease. What they should do is to sell the advantages of leasing so the question of stream rate never comes up.

Generally the first advantage of leasing is the cash flow advantage. Establishing payments that match either the revenue flow or cash flow of the lessee allows the lessee to avoid using lines of credit at their bank when cash gets tight. This is an add-on cost that increases the rate for lending that no one brings up. Level lease payments put leasing in the same status of a loan which gives rise to the question of rate. Then you dance around the stream rate hoping to avoid the purchase option question. Irregular payments are the backbone of leasing because it matches the payments to the irregular cash flow of the lessee creating an advantage rarely found in lending. It also makes it harder for the lessee to compute.

Another advantage for leasing is the assumption of a residual of any amount, because it lowers the payments, so the net present value of the lease payments should be lower when compared to a loan. It also creates a lower stream rate but usually the lower the stream rate the more questions from the lessee about why so low a rate. If you are stuck in an equipment financing program and you are calling it a lease then make the residual a last payment and have the lessee discount the payments at their average cost of financing and if the answer is lower than the equipment cost it makes the interest rate for a loan look expensive.

One of the important questions most sales people fail to ask is "how long does the lessee plan to use the equipment?" They usually ask "how many years to they want" however, this is a loan question. You should start with asking how long they "used" the equipment being replaced. Ask if there were any additional costs during that term of use for repairs or overhauls and then create a payment program that skips payments during this term. Make the lease for their expected term of use and then ask if they want the lease to end at the end of their fiscal year, or at a specific month of the year when business is slow and they have time to make equipment decisions. You should cover all of the lease advantages so you are arranging a lease not a loan. Most businesses have irregular cash flows and/or irregular revenue and/or irregular income because of different expenses coming at different times. Arranging a payment around these different cash flows so the rent comes when there is cash to pay for it. Tell the lessee that you help him reduce costs by reducing the need to use his line of credit.

One of the most important questions is the term of use. If the lessee expects to use the equipment for most of its useful life then a non-tax capital lease with a stated purchase option (with a residual assumption and a corresponding purchase option) needs to be and the lease advantages presented above. The stream rate will be important because the lessee will be comparing your proposal to a loan. Also the capital lease requirements for GAAP will create a rate to discount your payments for booking and create the question of your stream rate. It the term of use is defined by the hours of use or some other qualification then a tax - operating lease should be offered with payments adjusted to the cash and revenue requirements of the lessee. The operating lease requires the payment to be expensed, as paid, eliminating the question of stream rate.

A residual needs to be taken with no purchase option or, if the lessee asked for one, a fair market purchase option. A stream rate only comes up in Capital leases.

Leasing is not lending so learn how to sell leasing and the need for stream rate will go away.

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.

Theresa Kabot, CLP, president of the Certified Leasing Professional Foundation, and head of K2 Funding, Kabot Commercial Leasing LLC, Seattle, Washington told Leasing News 17 people take advantage of the $100 discount. The discount goes toward CLP Certification and Receive the CLP Handbook for the discounted price of $495.

"I am pleased announce that due to the positive response the Board voted to extend the CLP Summer Stimulus Plan through the 30th of September 2009," she announced." The application and fee must be received by the 30th of September, however you don't have to take the exam by the 30th, take the 90 days of summer to study……and certify in the fall."

For further information about the CLP Mentor Program and Anonymous Test Taking Program, please contact the executive director, Cindy Spurdle at 610/687-0213 or cindy@clpfoundation.org. Or visit www.clpfoundation.org

As predicted last year, it is expected that more than 100 banks will fail in 2009 as the FDIC and OTS has geared up to this, raising fees, bringing back employees who had retired, and being quite pro-active to insure confidence in the United States banking system.

Six of the seven banks that failed last week were in Illinois. They were all controlled by one family and the FDIC reports they "followed a similar business model that created concentrated exposure in each institution. The failure of these banks resulted primarily from losses related to the banks' investment in collateralized debt obligations and other loan losses."

Illinois holds the record number of one-day failures, which happened on March 16, 1989, when 10 banks were taken over by regulators. The largest in Illinois happened in 1984 with Continental having $40 billion in assets when a run on the bank started. The FDIC took over 80% ownership, finally sold it in 1991 and in 1994 Bank of America acquired the assets, as they recently did with LaSalle.

The FDIC has imposed some new regulations amid controversy from investors who like the procedures as they exist today. Basically private equity firms that own more than one bank would have to provide "cross-guarantees," under which they would use capital from a healthier bank to shore up a weaker one. The investment firms would also have to accept limits on their ability to extend credit to other affiliates, and they would have to make sure that their banks remain well capitalized.

The Office of Thrift Supervision has recently issued some new rules toughening consumer credit rules and regulations to take effect next year.

There is also serious talk about "brokered deposits," where banks pay a broker for steering money for certificate of deposits to their bank. " The 79 banks that have failed in the United States over the last two years had an average load of brokered deposits four times the national norm," according to an analysis performed for The New York Times by Foresight Analytics, an industry research firm based in California. "And a third of the failed banks, the analysis shows, had both an unusually high level of brokered deposits and an extremely high growth rate - often a disastrous recipe for banks."
http://www.nytimes.com/2009/07/04/business/04brokered.html?ref=business

The Elizabeth State Bank, Elizabeth, Illinois, became the 49th bank to fail this year and was closed on Thursday by the Illinois Department of Financial and Professional Regulation, Division of Banking. The two offices of The Elizabeth State Bank will reopen on Monday as branches of Galena State Bank and Trust, Galena, Illinois, will open today, Monday. As of April 30, 3009, The Elizabeth State Bank had total assets of $55.5 million and total deposits of approximately $50.4 million. Galena State Bank and Trust paid a premium of 1.0 percent to acquire all of the deposits of the failed bank.

The FDIC and Galena State Bank and Trust entered into a loss-share transaction on approximately $44.5 million of The Elizabeth State Bank's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.2 million.
http://www.fdic.gov/news/news/press/2009/pr09116.html

The First National Bank of Danville, Danville, Illinois became the 50th bank to fail, with the seven offices being taken over by First Financial Bank, N.A., Terre Haute, Indiana. As of April 30, 2009, The First National Bank of Danville had total assets of $166 million and total deposits of approximately $147 million. The FDIC and First Financial Bank, N.A. entered into a loss-share transaction on approximately $97 million of The First National Bank of Danville's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24 million.
http://www.fdic.gov/news/news/press/2009/pr09117.html

The First State Bank of Winchester, Winchester, Illinois became the 47th bank to fail with the FDIC entering into a purchase and assumption agreement with The First National Bank of Beardstown, Beardstown, Illinois, to assume all of the deposits of The First State Bank of Winchester and its two offices.

As of April 30, 2009, The First State Bank of Winchester had total assets of $36 million and total deposits of approximately $34 million. The First National Bank of Beardstown paid a premium of 2.0 percent to acquire all of the deposits of the failed bank. In addition to assuming all of the deposits of the failed bank, The First National Bank of Beardstown agreed to purchase approximately $33 million of assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6 million.
http://www.fdic.gov/news/news/press/2009/pr09114.html

Founders Bank, Worth, Illinois had eleven offices that have now become part of The Private Bank and Trust Company, Chicago, Illinois. The bank is the 52nd to fail in the nation this year, twelfth in Illinois.

As of April 30, 2009, Founders Bank had total assets of $962.5 million and total deposits of approximately $848.9 million. The PrivateBank and Trust Company paid a premium of 1.5 percent to acquire all of the deposits of the failed bank. In addition to assuming all of the deposits of the failed bank, The Private Bank and Trust Company agreed to purchase approximately $888.4 million of assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $188.5 million.
http://www.fdic.gov/news/news/press/2009/pr09119.html

The John Warner Bank, Clinton, Illinois, is the 46th bank to fail this year, with FDIC entering into a purchase and assumption agreement with State Bank of Lincoln, Lincoln, Illinois, to assume all of the deposits of The John Warner Bank and its three offices.

As of April 30, 2009, The John Warner Bank had total assets of $70 million and total deposits of approximately $64 million. State Bank of Lincoln paid a premium of 4.1 percent to acquire all of the deposits of the failed bank. In addition to assuming all of the deposits of the failed bank, State Bank of Lincoln agreed to purchase approximately $63 million of assets. The FDIC will retain the remaining assets for later disposition. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10 million.
http://www.fdic.gov/news/news/press/2009/pr09113.html

Millennium State Bank of Texas, Dallas, Texas, was closed Thursday by the Texas Department of Banking, with the FDIC entering into a purchase and assumption agreement with State Bank of Texas, Irving, Texas, to assume all of the deposits of Millennium State Bank of Texas. The bank had only one location. As of June 30, 2009, Millennium State Bank of Texas had total assets of approximately $118 million and total deposits of $115 million.

The bank was the first to fail in Texas this year, and the 51st in the United States this year. The FDIC estimates that the cost to the Deposit Insurance Fund will be $47 million.
http://www.fdic.gov/news/news/press/2009/pr09118.html

Rock River Bank, Oregon, Illinois, was closed by the Illinois Department of Financial and Professional Regulation, Division of Banking with the entering into a purchase and assumption agreement with The Harvard State Bank, Harvard, Illinois, to assume all of the deposits of Rock River Bank.

The four offices of Rock River Bank reopened today, Monday, as branches of The Harvard State Bank. As of April 30, 2009, Rock River Bank had total assets of $77 million and total deposits of approximately $75.8 million. The Harvard State Bank paid a premium of 2.0 percent to acquire all of the deposits of the failed bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27.6 million.
http://www.fdic.gov/news/news/press/2009/pr09115.html

Mark Babin was appointed national account manager for Relational Technology Solutions to be based out of RTS' Western Region office located in Irvine, California. His experience spans a range of sales management positions at CIT and Marcap Corporation, both of which focused on healthcare and medical equipment financing. Prior to that, he spent nearly ten years in sales, gaining an extensive footprint in both the telecommunications and healthcare industries. Babin holds a bachelor's degree from the University of Southern California and is currently a member of the Radiological Society of North America and the American Society of Radiation Oncology.

Derek Burke, Troy, Michigan has re-joined Huntington Bank's (Columbus, Ohio) Equipment Finance business to specialize in providing equipment financing for large corporate and middle market business sectors in Michigan and Northwest Ohio. He has been in the financial services industry since 1996 and specializing in equipment leasing since 2000. In addition to his position with Huntington, he formerly worked for GE Capital, 5/3rd Leasing and UBS Financial Services. Derek is a graduate of Western Michigan University in Kalamazoo, MI.

Scott Carroll was hired as director of sales and marketing for Mitsui Rail Capital, LLC (MRC), Chicago, Illinois, working out of the Cincinnati, Ohio office to cover the southwestern region of the U. S. as well as Mexico. He previously worked with another railcar leasing company, where he served as regional manager of sales for the Rail Equipment Group. Carroll has almost 10 years of sales experience, including four years spent in the railcar leasing market.

Rob Ellis was hired as national account manager for Relational Technology Solutions (RTS), Rolling Meadows, Illinois, at their Columbus, Ohio location. Ellis has more than 20 years of solution sales experience in the Ohio region while working with companies such as Insight, Sprint and AT&T. His expertise includes various technologies from vendors such as Cisco, EMC, HP, IBM, Microsoft, NetApp and VMware.

James J. Garner has been hired by Latitude Equipment Leasing, Marlton, New Jersey, to open a new office in Chicago, Illinois. He has held senior sales and sales management positions with several large independent as well as captive leasing companies in the Chicago area over his 25 year career. He holds a Masters Degree in Business Administration and a Bachelor of Science Degree.

Jeff Knaus has been appointed national account manager for Relational Technology Solutions out of their San Francisco, California office. He was most recently engaged in an entrepreneurial effort focused on international real estate financing, land acquisition, and conservancy. From 2005 to 2007, he ran HP Financial Services' Western 13 states; his team handled all financing for direct sales, channel sales, and outsourced transactions. Previously, Knaus enjoyed a 13-year career with Comdisco as a senior vice president of sales for the Bay Area, Mountain States, and the Northwest. In 1999, he left Comdisco to become a founding executive at an Internet start-up that raised $25 million dollars in the B2B space. Knaus holds a bachelor's degree in Economics from Hobart College.

1747-American naval officer born at Kirkbean, Scotland. Remembered for his victory in the battle of his ship, the Bonhomme Richard, with the British frigate Serapis, Sept 23, 1779. When Jones was queried: "Do you ask for quarter?" he made his famous reply: "I have not yet begun to fight!" Jones was victorious, but the Bonhomme Richard, badly damaged, sank two days later. Jones died at Paris, France, July 18, 1792.

    1526 -The first European settlement in what is now located in South Carolina, San Miguel de Guadalupe, was established by Lucas Vazsquez de Vyllon, who led some 500 or 600 settlers from Hispaniola to this coast location. The site of the settlement was thought to be just north of the Peedee Rive. Many of the settlers died of fever. After Ayllon succumbed himself on October 18, the approximately 150 surviving settlers returned to Hispaniola. The Spanish were the first group interested in this part of the America's, Juan Ponce de Leon discovering Florida, claiming it for the King of Spain. Members of his expedition reached the Mississippi River, and Juan Rodriquez Cabrillo not only went as far as Mexico, but in 1542, also landed near what is now Ballast Point, San Diego, then discovered Santa Catalina Island, San Pedro Bay, the Santa Barbara Channel, and other West Coast landmarks, which bear the names he gave them today.
    1747-American naval officer born at Kirkbean, Scotland. Remembered for his victory in the battle of his ship, the Bonhomme Richard, with the British frigate Serapis, Sept 23, 1779. When Jones was queried: "Do you ask for quarter?" he made his famous reply: "I have not yet begun to fight!" Jones was victorious, but the Bonhomme Richard, badly damaged, sank two days later. Jones died at Paris, France, July 18, 1792.
    1757 –Birthday of William McKendree, colonial American church leader. In 1808 he was ordained the first American-born bishop of the Methodist Episcopal Church.
    1776-The Pennsylvania Evening Post of Philadelphia, PA was the first newspaper to publish the Declaration of Independence.
    1847—Birthday of Ellen Martin Henrotin - wealthy U.S. widow who used her money to make the 1893 Chicago World's Fair the national focal point for feminist activity. Most importantly, she lead a committee that forced the closing of hundreds of brothels in Chicago and brought about the downfall of the flourishing "white slavery" trade in which women were kidnapped into prostitution.
    1865-Birthday of Mina Miller , the seventh of eleven children. She met Thomas Edison at the home of a mutual friend of her father and Edison, the inventor Ezra Gilliland. Her future husband claims he taught her Morse code so that they could converse in secret, even while the family watched. This is how Edison claims he proposed marriage and how she responded "yes." The two married on February 24, 1886. The couple moved into Glenmont, the Edison's' new home, after their honeymoon in Florida. At age twenty, the new Mrs. Edison became a stepmother to Mary's three children. It was not an easy task. She was less than ten years older than stepdaughter Marion. Although Mina tried to nurture her new family, Marion later described Mina as "too young to be a mother but too old to be a chum." Her role as Mrs. Thomas Edison was also difficult: Edison frequently stayed late at the laboratory and forgot anniversaries and birthdays. Yet he seemed to love his "Billie." A note found in one of Mina's gardening books reads, "Mina Miller Edison is the sweetest little woman who ever bestowed love on a miserable homely good for nothing male (sic)" As Thomas Edison supervised his "muckers" down the hill (at his laboratory), Mina hired and supervised a staff of maids, a cook, a nanny and a gardening staff. She even called herself the "home executive." After 1891 she, not her husband, owned the house. (This protected the house from being seized to pay Edison's debts if he went bankrupt.).Four years after Edison died, Mina married childhood sweetheart Edward Everett Hughes. The two lived in Glenmont until Hughes died in 1940, when she once again adopted the name of Mrs. Edison. She lived at Glenmont until her death on August 24, 1947.
    1858- Lyman Reed Blake of Abington, MA, obtained patents for the McKay stitching machine, which revolutionized shoe manufacturing, creating a new industry for New England, providing inexpensive and well-made footwear. The upper was lasted upon the insole by means of tacks driven through the insole and clinched against the steel bottom of the last. The outsole was then attached to the insole and upper by the McKay sewing machine, which made a chain stitch through and through to the inside of the shoe. the surface of the insole was then covered by a lining. The machine was first put in use by William Potter and Sons, Lynn, MA, in 1861. It was probably foot powered.
    1899-Birthday of Mignon G. Eberhart - U.S. mystery writer whose writing career spanned 57 years (1929-1988) and included 59 books. She commonly used brave - plucky - women in exotic locations. Many of her books became Hollywood movies.
http://www.mignoneberhart.com/
    1871- The first baseball game between an all-white team and an all-African American team was played in Chicago, IL. The African-American Uniques beat the Alerts by a score of 17-16.
    1921—Birthday of Nancy Davis Reagan, former First Lady, wife of the late Ronald Reagan, 40^th president of the US, born New York, NY.
    1925—Birthday of TV host, singer, entertainer, business executive Merv Griffin, born San Mateo, Ca. He got his first start here in San Francisco on my old alma mater KRFC
on the Old Don Lee Network.
    1928 --At Potter, NE, severe thunderstorm drops huge hailstones. One measured 5.5 inches in diameter, with a circumference of 17 inches and weighed 1.5 pounds!
Paul McCartney met John Lennon for the first time when Lennon's band, The Quarrymen were playing at a church social. In the church basement between sets, 15 year old McCartney teaches a 16 year old Lennon to play and sing Eddie Cochran's, "Twenty Flight Rock" and Gene Vincent's "Be-Bop-A-Lula". Lennon would later say that he was impressed with McCartney's ability to tune a guitar.
    1932- Singer Della Reese Birthday
    1933- Babe Ruth became the first to hit a home run in an All-Star game.
    1933-Major League baseball Holds First All-Star Game: The first midsummer All-Star Game was held at Comiskey Park, Chicago, IL. Babe Ruth led the American League with a home run, as they defeated the National League 4-2. Prior to the summer of 1933, All-Star contests consisted of pre- and postseason exhibitions that often found teams made up of a few stars playing beside journeymen and even minor leaguers.
    114ø F (46ø C), Moorhead, Minnesota (state record)
    1936 ---121ø F (49ø C), Steele, North Dakota (state record)
    1946—“43,” George W. Bush, 43^rd president of the US, former govern or Texas, born New Haven, CT.
    1946—Birthday of Sylvester Stallone, actor, director, born New York, NY.
    1947---Top Hits
Peg o' My Heart - The Harmonicats
I Wonder, I Wonder, I Wonder - Eddy Howard
Chi-Baba, Chi-Baba - Perry Como
It's a Sin - Eddy Arnold
    1947 - Allen Funt debuted with "The Candid Microphone" on ABC Radio. Later, on August 10, 1948, "Candid Camera" became a smash TV hit and made Funt a star. Funt also produced the film "What Do You Say To A Naked Lady?" using his hidden camera concept.
    1949—The Quiz Kids premiered and my good friend Ken Kelly of Goodwill and the Salvation Army, was one of the winners. This show began on radio and continued on TV with the original host, Joe Kelly, and later with Clifton Fadiman. The format was a panel of five child prodigies who answered questions sent in by viewers. Four were regulars, staying for weeks or months, while the fifth was a "guest child." The ages of the panelists varied from 6 to 16.
    1953- “Name That Tune” was a musical identification show that appeared in different formats in the 50's and the 70's. Red Benson was the host or the NBC series and Bill Cullen (and later George DeWitt) was the CBS host. Two contestants listened while an orchestra played a musical selection, and the first contestant who could identify it raced across the stage to ring a bell. The winner of the round then tried to identify a number of tunes within a specific time period. After 11 years, the show was brought back with Richard Hayes as host. In 1974, new network and syndicated versions appeared.
    1955---Top Hits
Rock Around the Clock - Bill Haley & His Comets
Cherry Pink and Apple Blossom White - Perez Prado
Learnin' the Blues - Frank Sinatra
Live Fast, Love Hard, Die Young - Faron Young
    1955—Governor William Grant Stratton of Illinois signed into law a state requirement that all automobiles be equipped with frame holes to which seat belts could be fastened,
the first state to mandate this requirement. . The law also required that no new motor vehicle could be registered unless equipped with seat belt attachments conforming to the specifications of the Society of Automotive Engineers.
    1955- "Baby Let's Play House" becomes Elvis' first single to place on the national charts and hits #10 on the Country & Western charts.
    1957-Althea Gibson of the US became the first black person to win any Wimbledon title when she beat Darlene Hard, also of the US, 6-3, 6-2 to win the women's singles championship.
http://memory.loc.gov/ammem/today/jul06.html
    1961—The Count Basie and Duke Ellington Band record together for the first time.
http://www.amazon.com/exec/obidos/tg/detail/-/B00000IMYM/104-4730229-5095117?v=glance
    1963-Two weeks after being released, The Surfers' classic surf tune "Wipe Out" cracks the Billboard Hot 100 on its way to number two. The song was recorded as a "filler" in just two takes, but would stay in the Top 40 for ten weeks.
    1963-James Brown went to #2 on the US album chart with "Live At The Apollo". The LP spent a total of 33 weeks on the chart.
    1971---Top Hits
It's Too Late/I Feel the Earth Move - Carole King
Indian Reservation - Raiders
Treat Her Like a Lady - Cornelius Brothers & Sister Rose
When You're Hot, You're Hot - Jerry Reed
    1961- Cecil Francis Poole became the first black US state's attorney when he was sworn in as US attorney for the Northern District of California. He served until his retirement on Feb 3, 1970.
    1963---Top Hits
Sukiyaki - Kyu Sakamoto
Blue on Blue - Bobby Vinton
Easier Said Than Done - The Essex
Act Naturally - Buck Owens
    1970- California became the first state to adopt a “no fault” divorce law. It allowed divorces in cases of incurable insanity and irreconcilable differences. The divorce rate of more than 1 million a year was reached in 1975, when 1,036,000 divorces were granted.
    1974-The Hues Corporation had the top tune in the US with "Rock the Boat".
    1977->Peak of 10 day heat wave with 100 in Washington, D.C.
    1979---Top Hits
Ring My Bell - Anita Ward
Bad Girls - Donna Summer
Chuck E.'s in Love - Rickie Lee Jones
Amanda - Waylon Jennings
    1981 - The Dupont Company of Wilmington, Delaware announced their intent to purchase Conoco, Inc. (Continental Oil Co.) for seven billion dollars. For that time, the merger was the largest in corporate history. Until a final sum of $7.7 billion closed the deal, the bargaining continued. The result of the merger was the creation of the seventh largest industrial company in the United States.
     --Pocatello, Id sets new record with 35, coldest for July
    1987---Top Hits
I Wanna Dance with Somebody (Who Loves Me) - Whitney Houston
Alone - Heart
Shakedown - Bob Seger
That was a Close One - Earl Thomas Conley
    1994---Top Hits
I Swear- All-4-One
Regulate (From "Above The Rim")- Warren G
Any Time, Any Place/And On And On- Janet Jackson
Don t Turn Around- Ace Of Base
    1998-Korean Se Ri Pak rolled in an 18-foot birdie putt to defeat amateur Jenny Chuasiriporn on the second hole of sudden death and win the 1998 US Women's Open at Blackwolf Run GC in Kholer, WI. The two golfers had finished the regulation 72 holes tied at six-over-par and had battled evenly at two-over— through an 18-hole playoff. Both pared the first extra hole, the first sudden-death hold in the history of the tournament. By winning, Pak became the youngest Open champ in history at 20, and only the second golf on the LPGA tour to win two major championships in her rookie year. Her earlier victory had come in the McDonald's LPGA Classic.
    2001 --Playing in the 101st different park since 1876, the Cubs beat the Tigers in Comerica Park, 15-8. The Cubs win for the first time in Detroit in 56 years dating back to Game 3 of the 1945 World Series when Claude Passeau's threw a 3-0 shutout in Briggs Stadium.
    2002-- Daryle Ward becomes the first player in the brief history of
Pittsburgh's PNC Park to hit the Allegheny River on the fly. His fifth inning towering grand slam, which is estimated to travel 479 feet, help the Astros to rout the Pirates, 10-2.

Bases loaded,
top of the ninth,
two out
and a run behind.
The windup,
the pitch,
the ball,
the swing,
the hit,
the cheers,
then the boss
waking you up.

Written by Robert L. Harrison

"Green Fields and White Lines"
Baseball Poems
Published by McFarland and Company

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