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

Wednesday, July 8, 2009

Folk singer Arlo Davy Guthrie born July 10, 1947 Coney Island, New York. Perhaps best known as the songwriter and singer of "Alice's Restaurant," and singer of "City of New Orleans" and "Motorcycle Song:" "I don't want a pickle, just want to ride my motor-cycle… I don't wanna die, just ride on my motor cy-."
http://www.youtube.com/watch?v=rwfhoZ9QtPo

Headlines---

Dick Lightner passes away
    Correction: IFC Credit Corp.
        Cartoon---I don't wanna pickle---
Correction -Small Ticket Market Continues to Shrink
Apology: US Bank Manifest
    Classified Ads---Sales
        Small Ticket Funders
    Classified Ads---Help Wanted
        Public Enemies/Ice Age: Dawn of the Dinosau
For All Mankind/Near Dark/The John Barrymore Collection
    Fernando's View: He loved "Public Enemies"
NVLA Announces 2009-2010 Board of Directors
    Three New CLP's Elliott/Gateley/Sultenfuss
Sales Tax vs. Use Tax-TRAC Lease Lower Cost
    by Andrew Aldridge
Alexa Ranks Leasing Media Web Sites
News Briefs---
    Citigroup shakes up top management, replaces CFO
Amazon cuts Kindle 2 price $60 to $299
    Costco, Nordstrom, retailers report weak June sales
    You May have Missed---
     Sports Briefs---
        California Nuts Brief---
"Gimme that Wine"
    Today's Top Event in History
        This Day in American History
Baseball Poem
    SuDoku
Daily Puzzle
    GasBuddy
        Weather, USA or specific area
Traffic Live----

######## surrounding the article denotes it is a “press release”


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Dick Lightner passes away

Richard E. Lightner, executive vice president of the Ohio Vehicle Leasing Association, long time vehicle lessor, and contributor to Leasing News since 2001, passed away July 7 at the age of 67 from sudden complications with heart disease and diabetes.

He has served the renting and leasing industry since 1976. He was the 2004 recipient of William H. Brown memorial award for outstanding service to the car rental industry.

He was preceded in death by his parents Ralph and Evelyn Lightner of Waynesburg, Pa., and his son Richard L. Lightner.

He is survived by his sister Linda Pitcock (Al), daughter and son-in-law Mary Lightner and Robert Rothwell, son Matthew R. Lightner (Denise) and his four granddaughters Heather, Holly, Jordan and Lindsey.

The memorial service, which is for family only, will take place at a later date.

[headlines]

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Correction: IFC Credit Corp., Morton Grove, Illinois
by Christopher Menkin

DZ Bank may be holding the largest bag, but no filings at this time. Once one of the largest securitization buyers, they are in full retreat from the shores of the United States. The biggest filing to date perhaps comes from the sale of First Portland Corporation dba First Corp. There are two cases filed against IFC Credit Corporation by First Chicago Bank, one on June 7, 2009 and one on June 15, 2009, Cook County, Illinois. One a replevin case in the Law Division filed by First Chicago Bank Trust against IFC June 15th. No response filed, and no appearance by counsel by IFC. The first involves the same parties, seeking injunctive relief in the Chancery Division, filed July 7th. The second concerns a hearing scheduled today regarding Len Ludwig who may be the sole owner at this time having a 100% pledge of stock agreement regarding the sale of First Portland Corporation dba First Corp to IFC Credit in 2003 (he was one of the two owners.)

John Estok, CLP, was the president with Len Ludwig as CEO, whose major partner was Arthur Levinson (reportedly now living in Israel.) John Estok, CLP, went to work at IFC Credit under different positions and readers may know his name well do to the many stories about the IFC Credit NorVergence fiasco ((Estok was instrumental in trying to keep the telephone companies from turning off service, as reported in many court cases, actually obtaining holdbacks from NorVergence leases not disclosed in seeking restitution from NorVergence lessees (SOS is one case.)) The June 15 filing first involves the same parties, seeking injunctive relief in the Chancery Division, filed July 7th. First Chicago Bank Trust was granted a temporary restraining order. Wednesday, (Vince) Borst and Collins, filed an appearance.

At this time there is also $1,000,000 default filed June 3, 2009, by Dong Youl Lee of California who invested in IFC Credit, claiming IFC has failed to repay the loan (part of the Blue Dot connection and the reason many believe Rudy Trebels, CLP, founder of IFC Credit, Morton Grove, Illinois purchased the company for the access to Korean money.) There are banks, too, seeking money, such as Manufacturers and Traders Trust Company (MT&T), successor by merger to Court Square Leasing, who filed on June 29th claiming $518,843 owed (now $38,885.26 interest as of February, 2009 and attorney fees of $51,848.35) now at $609,218.14

Ironically in doing the research on IFC and First Corp. (which appears to be more of a name than a separate operating company, seen from the filings), I finally found proof that I was looking for. Throughout the last two years, and more recently since the end of last year, Leasing News has been printing complaints from vendors not being paid, brokers not being paid, and the NorVergence leasing cases lost or position of IFC Credit. Alerts have been posted. A threat of a lawsuit from Askounis & Borst, the breakup of their law firm (perhaps stemming from Gulfcoast Workstation Group malpractice suit involving Medmarc Casualty Insurance Company) did not deter the reporting.

At the time, Leasing News had heard that the new firm Askounis & Darcy was not paid for legal representation in NorVergence lease cases, being told by defendants they were so notified. A telephone call to Tom Askounis regarding this to confirm or deny brought several "no comments" to questions asked.

What I found was on June 12th a suit filed by Askounis and Darcy suing IFC for approximately $170,000.00 in attorney's fees not paid!

Texas Attorney Scott Mackenzie has two broker law suits against IFC Credit for brokers not being paid. Leasing News gets reports of other brokers not paid, as well as vendors still not being paid by IFC Credit, such as a new one from a vendor owed $50,000. He feels lucky, he says, as three of the others leases that he had received purchase order on, the lease contracts were sent back, so he will take them elsewhere. The deposits were not returned to the applicants or the vendor. He is going to instruct the lessee to stop making the lease payments as his company was not paid ( plus his company provides service on the equipment.)

There are also broker calling Leasing News from the last publication to learn if their deals in funding will be funded! There are vendors not paid in full since December calling that they were receiving monthly that IFC Credit agreed to make.

There also is the FirstCorp in the Wildwood Industries bankruptcy. Apparently, IFC originated a number of the most recent multi-million dollar leases with Wildwood, which were financed by/sold to FirstCorp. All of the recent Wildwood leases appear to be phony - massive vendor/lessee fraud. As well as many Sheldon Player/ Equipment Acquisition Resources transactions.

In addition, banks have been taking over servicing and other banks backing out such as Susquehanna reportedly did, and one other now actively taking over the service of their loan to IFC Credit.

According to several reliable sources, all employees at Pioneer Capital, Addison, Texas will soon be terminated, as well as IFC Credit Corp., Morton Grove, Illinois, except perhaps for three executives: David Keenan, Senior Vice President, Controller and Treasurer, Dave Farber, Senior Vice President of FirstCorp Vendor Sales & Marketing, Scott A. Jarnac, Senior Vice President of IFC Middle Market Sales.

Leasing News has been attempting to alert readers about IFC Credit since the NorVergence scandal and the lack of payment to brokers, vendors, even banks. Perhaps DZ Bank will be the hardest hit. Others will be left without recourse and perhaps other losses not discovered yet.

Outside auditors reportedly representing several banks continue their role in Morton Grove. There is a skeleton staff in Morton Grove, Illinois. Pioneer still has a staff on duty, according to President John Boettigheimer. He has not heard of anyone being terminated. He was not aware of the hearing today in Cook County Circuit Court, Illinois. It appears the announcement of the hearing today in Cook County Circuit Court, Illinois that led one executive in Morton Grove to tell employees to go home, which lead to the talk they were let go.

John Boettigheimer seems to have been left out of the loop, and perhaps starting at the end of last year. The notices about not having funds or not funding and all the disruptions were instituted by him, but not sent out or in the timely manner as he wanted, according to an inside source not in Texas where the company is located. The last notice did not concern IFC Credit and was held up for almost two weeks, another source confirmed to Leasing News. Boettigheimer wanted it sent out earlier. He has not been involved in the IFC Credit operation in Morton Grove, Illinois. Assets of his company have reportedly been pledged so for it to succeed would take a magic wand from Len Ludwig, one of the former owners of First Portland Corporation.

Not seen in two weeks are IFC Credit founder Rudy Trebels, CLP, who was told along with Marc Langs, Chief Financial Officers, to take a hike while the auditors looked at what assets were available. Trebels is guessed to be at his home in Florida, but then again, may be in the court hearing today.

There is also talk going on with accounting auditors regarding lessee payoffs not being made to the credit providers, but IFC Credit making the lease payments instead of paying off the bank. Should the matter be placed into bankruptcy by any three creditors or a receiver be appointed today, this information from all sides will become public.

Lee $1 million complaint:
http://leasingnews.org/PDF/Lee.pdf

MT&T Complaint
http://leasingnews.org/PDF/MT&T.pdf

First Chicago Bank Trust replevin
http://leasingnews.org/PDF/firstchi_ifc.pdf

Askounis-Darcy suit IFC Credit Law Fees
http://leasingnews.org/PDF/1stchi_ifc_chancerylaw.pdf

Major Decision: IFC Credit loses SOS Appeal
http://www.leasingnews.org/archives/March%202009/03-09-09.htm#ifc

IFC Closing Down
http://www.leasingnews.org/Conscious-Top%20Stories/IFC_stories.htm



[headlines]

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[headlines]

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Correction -Small Ticket Market Continues to Shrink

The following was corrected "on line," as well as sent out as an "Extra:"

US Bank Manifest should have been listed in this story, and the first paragraph is now changed:

It looks like the major funders who employ over 100 left in the small ticket marketplace are Bank of the West Leasing, CSI Leasing, Direct Capital, Financial Pacific, GreatAmerica Leasing, Hillcrest Bank Leasing, LEAF, Marlin Business Service, TimePayment and US Bank Manifest. CIT and GE Capital are more in the middle marketplace, plus appear not to be interested in this market place on a "one-to-one" basis. If you were left out, let us know, but qualify yourself first as being a real funder.

Full Article:
http://leasingnews.org/archives/July%202009/07-08-09.htm#smallticket

[headlines]

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Apology: US Bank Manifest

Leasing News apologizes for not including US Bank Manifest in the first edition regarding leading small ticket leasing companies and corrected it "on line" as soon as realizing the mistake. The problem is two fold in that there is no copy editor when the edition is sent to the web master, and as important, no copy editor to do a final proof as it is normally posted from 1am to 3am, California time. Readers should understand the person does the html and other internet work, and in doing so, actually doesn't read the stories, or perhaps may glance, but basically in doing technical work as a typesetter would perform for a printed newspaper.
Kit Menkin, editor

PS-Anyone in Hawaii or who is awake at this time with leasing industry knowledge, a copy editor position is open.




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

[headlines]

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Classified Ads---Sales

Cherry Hill, NJ
College grad seeking entry level sales position for equipment leasing and financing in small to mid-size ticket markets. Have 6 months experience in the industry and self-motivated. Contact Matt at 609-280-2178 or
email at mkuzan@gmail.com

Fort Myers, Florida
Very experienced and strong skills with both Captive and Specialty Sales and  Sales Management. Over 20 years, will relocate and travel- successful and team player . 
e-mail: tlinspections@gmail.com

Fresno, CA
Aggressive, competitive self-starter w/successful vendor/direct equipment
leasing and asset-based lending experience seeks return to leasing industry
after successful stint in business banking sales.
Email: dsp559@hotmail.com
Resume

Minneapolis, MN
16 years leasing experience from micro to large ticket market, variety of equipment. Most recently calling on vendor telecom dealers in Upper Midwest. 
golfadm@yahoo.com

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

Open
Many years of successful experience in niche leasing. Seek position with bank or other self-funded entity. Position and/or location secondary to company profile.
Email: David34983@comcast.net

Orange County, CA
19+ years of successful marketing to the broker/lessor community representing one funding source owned by several parent companies.
Email: oc49ersteve@sbcglobal.net

Oklahoma
Over 30 years of financing experience, resume posted at www.geocities.com/bobbybenmoore, phone 580-351-2531

Philadelphia, PA
Aggressive Sales Hunter with 10 plus years of story credit experience (B-D credit including start-ups) with a strong emphasis on building productive business relationships. saleshunter09@gmail.com

Philadelphia Metro Area - 30 Years experience Healthcare sales/ management- 3 years experience newly create "small-ticket" healthcare division. Good success - Mitch Utz 215-460-4483
Email: mitutz@msn.com
Pittsburgh , PA
Aggressive self starter looking for leasing position w/10 plus yrs sales exp., plus banking experience 814-227-4592
mwiser500@hotmail.com

Pittsburgh, PA
Over 25 years of leasing experience including Captive, Dealer, Broker, and Third Party. Multiple equipment types. Seeking a Territory or National Sales position.
vsiegel2@aol.com

San Francisco
I am seeking a commission only structure w/established firm with a niche program / product.  30 years equipment leasing successful sales experience.
tbroman@comcast.net. 650-574-2873

San Francisco Bay Area:
Business Development “Hunter” with transferable book of business in multiple segments: commercial construction, technology, fitness, etc. Years of managerial experience: can also be a “player/coach”.
E-mail: VdrPgmBizDev@aol.com

SouthEast
Award winning commercial leasing salesman, middle market Georgia , Alabama , Tennessee , and Florida in addition to originating leases nationally. 26 years experience.
Resume

For a full listing of all "job wanted" ads, please go to:
http://www.leasingnews.org/Classified/Jwanted/Jwanted.htm

To place a free "job wanted" Leasing News ad:
http://www.leasingnews.org/Classified/Jwanted/Jwanted-post.htm

ELFA Career Center: Job Seekers (free):
http://careers.elfaonline.org/search.cfm

[headlines]

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Small Ticket Funders

One of the problems in putting together the Small Ticket Funders is using the Leasing News "Funder 'A' List. Here are companies listed in order by employees who supplied much of the information. US Bank Manifest was on "Funder 'B' List, those who did not respond.

Here is one we missed, now added to the "Funder 'A' List. They should have been in the Small Ticket Market article as they have over 100 employees (they also do not accept broker business):

"Hillcrest Commercial Leasing has over 125 employees and is a funding source that holds its own paper. You ran an announcement for us back in 2/08.

Thanks for the consistent flow of information in your articles, it's much appreciated and keep them coming!

Chuck Cannata

Chuck Cannata
SVP, Commercial Leasing
Hillcrest Bank
11111 W. 95th Street
Overland Park, KS 66214
913-324-6513
913-492-0917 fax
ccannata@hillcrestbank.com
www.hillcrestbank.com

Leasing News did a story on Mr. Cannata joining February 18,2008:
http://www.leasingnews.org/archives/February%202008/02-18-08.htm#hill

Name
In Business Since
Contact
Website
Leasing Association
Employees
Geo
Area
Dollar
Amount
Business Reports
A
B
C
D
E
Hillcrest Bank Leasing
2007
Chuck Cannata

SVP, Commercial Leasing ccannata@hillcrestbank.com
913-324-6513
www.hillcrestbank.com
125
TX, IL, TN, LA, FL, KS, MO, CO, WI
$5,000 to $2,000,000
N
N
N
N
Y

A -Accepts Broker Business | B -Requires Broker be Licensed | C -Sub-Broker Program
| D -"Private label Program" | E - Also "in house" salesmen



Funder "A" List:
http://leasingnews.org/Funders_Only/Funders.htm



[headlines]

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Classified Ads---Help Wanted


McKinney, Texas
Lease Packager

Ten years experience packaging/placing leases
$10,000 to $500,000

jamespenny@cprofit.com/877-386-3716,ext.100
www.cprofit.com

 


Asset Remarketing Managers
Proven Truck, Construction, Machine tool, Material Handling expertise.

Manage, evaluate, value, remarket portfolio assets. Unlimited compensation. CLICK HERE for full description.

Maria Lopez (203) 354-6090 or mlopez@eqfsdirect.com

Equilease is a long established full-service leasing company that finances industrial and commercial equipment for vendors, manufacturers and end-users. www.eqfsdirect.com

 

[headlines]

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Fernando's View
By Fernando F. Croce

A thrilling experimental action ("Public Enemies") and a colorful animated adventure ("Ice Age: Dawn of the Dinosaurs") hit movie screens, while first-rate blasts from the past ("For All Mankind," "Near Dark") make for excellent stay-at-home choices.

In Theaters:

Public Enemies (Universal Pictures): With the mix of visceral thrills and stylistic experimentation in "Collateral" and "Miami Vice", Michael Mann has become the most intriguing action director now at work. In this sleek, rousing portrait of the legendary Depression-era outlaw John Dillinger (excellently played by Johnny Depp), Mann goes even further by telling a story in 1930s dressing that, thanks to his use of digital video cameras, plays with a striking, present-tense feel. Following Dillinger's bank-robbing spree as he meets fellow criminal Baby Face Nelson (Stephen Graham), takes up with girlfriend Billie Frechette (Marion Cotillard) and is chased by government agent Melvin Purvis (Christian Bale), Mann whips up a visually arresting tale that's unlike any other crime drama in recent years.

Ice Age: Dawn of the Dinosaurs (20th Century Fox): The popular "Ice Age" animated series continues with this high-spirited third entry. Once more following the adventures of prehistoric pals Manny the mammoth (voiced by Ray Romano), Sid the sloth (John Leguizamo) and Diego the tiger (Dennis O'Leary), the movie finds the characters trying to settle down with their own families. Manny has gotten together with Ellie (Queen Latifah), and even the hyper, mischievous squirrel Scrat has found romance. Their peace is short-lived, however, when Sid attempts to start a family by "borrowing" dinosaur eggs, and the whole gang ends up on the run in an underground world. Fans of the family- and environment-friendly cartoons will enjoy this colorful installment.

New on DVD:

For All Mankind (Criterion): When man finally landed on the moon in 1969, all most people got to see where small, grainy black-and-white images on TV. To remedy that situation, filmmaker Al Reinert put together this exceptional 1989 documentary from the best footage available from NASA vaults. Depicting the interactions between astronauts from training in their Houston base to the rocket ride into space, the film often plays like a real-life version of a crowd-pleasing blockbuster like "Apollo 13." Combining awe-inspiring glimpses of Earth viewed from space and a feeling of palpable tension, this award-winning documentary outdoes most other Hollywood productions in terms of beauty and suspense. Don't miss the extras in the exceptional Criterion DVD transfer, which include behind-the-scenes looks at thrilling NASA operations.

Near Dark (Lions Gate): Now that Kathryn Bigelow is getting the attention she deserves for her first-rate "The Hurt Locker," it may be a good time to revisit and re-evaluate her previous projects. This ferocious, one-of-a-kind thriller makes a splendid starting point. Combining elements from horror movies and westerns, it tells the brutal yet strangely affecting romance between a cowboy (Adrian Pasdar) and a comely farm girl (Jenny Wright) whose "family" turns out to be a gang of joy-riding vampires. Full of exciting stunts and gleeful, pitch-black humor, it's one of the most original and subversive action movies to come out of the 1980s, and further evidence that Bigelow is a fascinating filmmaker. The strong supporting cast also includes Bill Paxton, Lance Henriksen and Jeanette Goldstein.

The John Barrymore Collection (Kino): Though John Barrymore is now best known for being Drew Barrymore's grandfather, in the silent-movie era he was regarded as one of the finest actors of his generation, a riveting performer legendary for his theatrical skills and for his handsomeness and humor. This four-movie DVD set from Kino should go a long way in educating modern audiences about this great actor. They include "Dr. Jekyll and Mr. Hyde," an early adaptation of Robert Louis Stevenson's often-filmed tale in which Barrymore performs a bravura shift from dedicated humanist to vile monster, and "The Tempest," a ravishing romance set in Czarist Russia. For more Barrymore goodness, make sure to check out his later roles in "Grand Hotel" and "Twentieth Century."

[headlines]

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****Announcement ***************************************

NVLA Announces 2009-2010 Board of Directors

The ballot has closed and the votes have been counted! The NVLA is pleased to announce its 2009-2010 Board of Directors.

President: Mr. Scott Crawford
First Vice-President: Mr. Ben Carfrae
Second Vice-President: Mr. PJ McMahon
Third Vice-President: Mr. Tarry Shebesta
Secretary/Treasurer: Mr. Andy Carr
Associate Director: Mr. Jeff Cook
Director-at-Large: Mr. Michael Cardello
Director-at-Large: Mr. Brett Yannalfo
Immediate Past President: Mr. Mike Wood

[headlines]

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****Announcement****************************************

Three New CLP's Elliott/Gateley/Sultenfuss

The Certified Leasing Professional Foundation is very pleased to announce the addition of three new Certified Lease Professionals. The Board of Directors asks you to join us in congratulating them for completing the CLP Program and successfully passing the CLP Exam to earn their Certified Lease Professional designation.

Jeffry Elliott, CLP
Huntington Equipment Finance
Cleveland, OH

Crystal Gateley, CLP
M&I Equipment Finance
Milwaukee, WI 53202

Russell Sultenfuss, CLP
Oce Financial Services, Inc.
Boca Raton, FL 33487

The CLP Foundation is the official governing body for the Certified Lease Professional ("CLP") Program. The CLP designation sets the standard for professionalism in the leasing industry. This designation identifies and recognizes individuals within the leasing industry who have demonstrated their competency through continued education, testing and conduct. This designation is the only internationally recognized lease certification program in the world.

We invite you to visit our web site -- www.clpfoundation.org for detailed information about the CLP Foundation and the CLP Program. For further information about our Mentor Program and Anonymous Test Taking Program, please contact Cindy Spurdle at 610/687-0213 or cindy@clpfoundation.org.

Cynthia W. Spurdle
Executive Director
CLP Foundation
PO Box 302
Wayne, PA 19087
PH: 610/687-0213
FAX: 610/687-4111
E-mail: cindy@clpfoundation.org
www.clpfoundation.org

***** Announcement***************************************

[headlines]

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Ask Andrew---

Andrew Aldridge is President and principle of GPD Capital Services, Inc. His experience spans 27 years in originating funding for commercial customers needing equipment and titled vehicles financed and or leased. GPD is uniquely established with strong well known funders who primarily do not work with outside originators.

Any information provided in this article of an accountancy nature verify with a licensed CPA.

Sales Tax vs. Use Tax-TRAC Lease Lower Cost

by Andrew Aldridge

Sales tax impacts equipment costs in various scenarios. This information can be applied to any type of capital equipment. I do not address income tax, or balance sheet issues as they relate to accountancy treatment or the relationship between the customers's banking requirements, or covenants, etc.

Most GPD Capital Services, Inc. (GPD) customers are funded using an Open End TRAC Lease. Sales tax is collected monthly by using the use tax method. Most states allow for this use tax method. Due to these economic times states are increasing or going to increase sales percentages upwards which increase the total dollar amount paid on capital equipment. Many customers that choose a finance or "EFA" style document will readily switch so the sales tax will not have to be capitalized. The increased choice will require more lenders to have a valid re-sale number and be backed by a current active leasing permit/number with the state the customer resides in.

The focus of this article is to highlight some of the significant savings that can occur by utilizing the use tax method.

ASSUMPTIONS:

  • Customer is not in need of accelerated depreciation. Prefers to keep the payment as low as possible and deduct the payments as a monthly expense.
  • The equipment is determined to have a wholesale value of at least 20% of the original cost at the end of 5 years. The example uses this percentage as the end value or residual left to satisfy at the end of the lease. Either paid by the lessee or sold for FMV to a dealer or end user. The lessee will get the gain or loss based on the selling price as compared to the 20% end value.
  • The applied interest rate in both the finance contract and Open end Lease are the same. For the example below I am using an 8.5% true yield. 90% of all TRAC lease the rate is sometimes 50 to 150 basis points lower than on a EFA
  • Sales tax percentage of 9.25% for both scenarios
  • First payment not due for 30 days after funding
  • Same term is used

TRAC Lease EFA or Finance
Contract

Ex equipment selling cost: $225,000.00 $225,000.00



" Sales Tax $00.00 $ 20,812.50
" Cap cost: $225,000.00 $245,812.50
" Term: 60 Months 60 Months
" End value: $ 45,000.00 $ 00.00
" Payment: $ 4,011.73 $ 5,043.22
" Use tax: $ 371.09 $ 00.00
" Total Payment: $ 4,382.82 Tot payment; $ 5,043.22
Lease Finance


Analysis #1: Cost comparison for payment totals for each over the term.

Trac Lease         Finance
Payment/$4,382.82 x 60 = $262,969.20.
Payment/$5,043.22 x 60 = $302,593.80
Trac provides a lower cost = to $39,624.60 over the 60 mo term. Does not include end value obligations.

Often a term is shortened by the lessee or debtor due to insurance write-off, or early trade in due to obsolescence, or perhaps equipment that is more suitable for the lessee's customers. Using an estimated amortization schedule the effect is calculated below:

Analysis #2: Customer needs to sell off the equipment after month 40

Trac Lease         Finance
Payment/$4,382.82 x 40 = $175,312.80
Payment/$5,043.22 x 40 = $201,728.80
Amort at Month 40 = $114,155.00
$ 94,440.00
$289,467.80

$296,168.80 Trac has a lower cost by $6,701.00

Assuming in both scenarios the customer keeps the equipment and pays off the end value, for the finance the balloon

Analysis #3:

Trac Lease         Finance
Payment/$4,382.82 x 60 = $262,969.20.
Payment/$5,043.22 x 60 = $302,593.80
End Value = $ 45,000.00 Balloon: = $ 00.00
Total cost: = $307,969.20 = $302,593.80
Finance style is $5,375.40 less expensive than the Trac Lease due to the principle being written down faster in the EFA than in the Lease. At the time the customer takes title to the equipment sale tax will be due on the end value.

OBSERVATIONS AND CONCLUSION:

In a difficult economy whereby sales and profits are squeezed and the equipment usage cycle gets longer, sales tax treatment will be examined more thoughtfully for its influence on the P & L. Cash Flow and Net Income results will benefit greatly by using a TRAC Lease that incorporates a use tax method to pay sales tax.

Direct Voice: 888-331-9781 EXT 12 | Direct Fax: 408-364-0743 | Cell: 408-888-7027
E-mail: Andrew@GPDCSI.com

[headlines]

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Alexa Ranks Leasing Media Web Sites

Rank
7/9/2009
6/9/2009
 
WEBSITE NAME
1.
191,677
183,868
  www.leasingnews.org  Leasing News
2.
412,409
608,205
  www.lessors.com  eLessors Networking Association
3.
520,269
547,292
  www.monitordaily.com Monitor Daily
4.
874,900
1,295,612
  www.elfaonline.org Equipment Leasing and Fin. Association
5.
1,060,676
906,880
  www.ibaa.org Ind Community Bankers of America
6.
1,252,550
1,086,036
  www.naelb.org* National Assoc. of Equip Leasing Brokers
7.
1,596,128
1,780,923
  www.leasinglife.co.uk The Journal for Asset Finance
8.
2,256,774
2,083,540
  www.Worldleasingnews.com World Leasing News
9.
2,442,617
3,463,243
 

www.cfa.com  Commercial Finance Association

10.
2,528,208
2,626,493
  www.nefassociation.org National Equipment Finance Association
11.
2,780,710
2,748,343
  www.iicl.org  Institute of International Container Lessors
12.
3,022,815
3,886,368
  www.clpfoundation.org   CLP Foundation
13.
3,098,944
2,854,276
  www.executivecaliber.ws  Exec Caliber-Jeffrey Taylor
14.
6,204,519
6,381,863
  www.aglf.org  Assoc of Government Leasing  Financing
15.
6,292,275
8,619,937
  www.nationalfunding.org The National Funding Assoc
16.
6,495,854
6,896,978
  www.leasefoundation.org Equip. Leasing & Fin Fndn
17.
15,726,037
15,506,198
  www.leasingnotes.com Leasing Notes
18.
No Data
21,984,172
  www.leasecollect.org Lean -Lease Enforcement Att Net
19.
No Data
22,088,509
  www.leaseassistant.org Lease Assistant
20.
No Data
No Data
  www.Leasingpress.com Leasing Press

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-------------------------------------------------------------

News Briefs----

Citigroup shakes up top management, replaces CFO
http://www.usatoday.com/money/industries/banking/2009-07-09-citi-shuffle_N.htm

Amazon cuts Kindle 2 price $60 to $299
http://www.upi.com/Business_News/2009/07/09/Amazon-cuts-Kindle-2-price-60-to-299/UPI-69461247164690/

Costco, Nordstrom, other retailers report weak June sales
http://seattletimes.nwsource.com/html/businesstechnology/2009437142_apretailsales.html

[headlines]

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You May have Missed---

Geography of a Recession
http://www.nytimes.com/interactive/2009/03/03/us/20090303_LEONHARDT.html?ref=business

[headlines]

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Sports Briefs----

Steve McNair was asleep when killed
http://www.examiner.com/x-7528-SF-Top-News-Examiner~y2009m7d9-Steve-McNair-was-asleep-when-killed

[headlines]

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California Nuts Briefs---

CTA launches TV attack on Schwarzenegger
http://www.sacbee.com/static/weblogs/capitolalertlatest/023736.html

[headlines]

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"Gimme that Wine"

Grapes go unsold in Sonoma
http://www.pressdemocrat.com/article/20090709/NEWS/907091004/1350?Title=Economy-takes-a-toll-on-grapes-

Grapes: Who's Planting What?
http://www.winesandvines.com/template.cfm?section=news&content=65769&htitle=Grapes%3A%20Who%27s%20Planting%20What%3F

South Coast Winery earns top honors in State Fair competition
http://www.sacbee.com/topstories/story/2014087.html

Winery's 'dream job' idea leaves an aftertaste
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/07/09/BUJM18I79M.DTL&tsp=1

Bonny Doon Vineyard's Randall Grahm makes a bid to be known for wines, not wackiness
http://www.mercurynews.com/restaurants/ci_12749434?nclick_check=1

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/
US/International Wine Events
http://www.localwineevents.com/
Winery Atlas
http://www.carterhouse.com/atlas/\
Leasing News Wine & Spirits Page
http://two.leasingnews.org/Recommendations/wnensprts.htm
The London International Vintners Exchange (Liv-ex) is an electronic exchange for fine wine.
http://www.liv-ex.com/

[headlines]

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Today's Top Event in History

1941- Normally we only salute birthdays, but since the Library of Congress notes this, we also note the death of pianist and composer Jelly Roll Morton, who claimed he invented jazz, died in Los Angeles at age 50. Morton, born Ferdinand La Menthe in New Orleans, who claimed he invented jazz. Whether he did or did not, he was the first jazz composer to put his works down on paper. Among the jazz classics that flowed from Morton's pen were "Jelly Roll Blues," "Wolverine Blues" and "King Porter Stomp." Morton's peak years of popularity were from 1917 to 1922, when his Red Hot Peppers Band played college and hotel dates and recorded for the Victor company. But with the coming of the swing era in the 1930's, Morton's combination of ragtime and blues was considered old-fashioned. He recorded his music and his life story for the Library of Congress three years before his death.
http://memory.loc.gov/ammem/today/jul10.html

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

This Day in American History

    1795-President George Washington issued the first “presidential amnesty”, extending a full pardon to participants in the Whiskey Rebellion who were willing to sign an oath of allegiance to the United States. This is studied in school as it was not only about a 25% tax imposed on whiskey, but defined the relationship and powers of the federal government and individual states.
http://wa.essortment.com/whiskeyrebellio_rzjj.htm
http://www.whiskeyrebellion.org/rebell.HTM
    1834-Birthday of James Abbott McNeill Whistler, American painter ( especially known for painting of his mother ), born at Lowell, MA. Died at London, England, July 17,1903. When a woman declared that a landscape reminded her of Whistler's paintings, he reportedly said,” Yes, madam. Nature is creeping up.”
http://sunsite.dk/cgfa/whistler/
    1851- California Wesleyan College was chartered in Santa Clara, under sponsorship ofthe Methodist Church. In 1961 its name was changed to the University of the Pacific.
http://www.cho.ci.santa-clara.ca.us/41036.html#PartVI
    1862-the first Medal of Honor to a Marine was presented to Sergeant John Freeman Mackie by Commander Henry Rolando under authorized of General Order No.17. During the attack on Fort Darling at Crewrys Bluff, James River, VA, on May 15, 1862, Mackie rallied the Marine Guard on the U.S.S. Galena after the entire 3 rd Division was killed or wounded. He cleared the deck and resumed the action without awaiting orders. “ As enemy shellfire raked the deck of his ship, Corporal Mackie fearlessly maintained his musket fire against the rifle pits along the shore and, when ordered to fill vacancies at guns caused by men wounded and killed in action, manned the weapons with skill and courage". Died, 1910.
http://www.homeofheroes.com/moh/citations_1862_cwh/mackie_john.html
full story:
http://www.mca-marines.org/leatherneck/mackiearch.htm
    1866-Edson P. Clark of Northampton, MA obtained a patent for an indelible pencil. It had a “filling composed of silver, black lead, calcined gypsum and lamp-black or asphaltum” that was shellacked to the groove in the wood.
a : that cannot be removed, washed away, or erased b : making marks that cannot easily be removed <an indelible pencil>
    1869-Birthday of John Arnold Heydler, baseball executive born at Lafargeville, NY. Heydler was president of the National League from 1918 to 1934. He helped to found the Baseball Hall of Fame and, in 1929, suggested a rules change that became known as the designated hitter. Died at San Diego, CA, April 18,1956.
    1875-birthday of African-American educator Mary McLeod Bethune, Mayesville, South Carolina.     1875-Birthday of the great Mary McLeod Bethune. In 1904, with $150 of her own money, she opened the Daytona Normal and Industrial Institute for Negro Girls in Daytona Beach, Florida, with five girls paying 50 cents a week... in those days a lot of money for families steeped in poverty. In less than two years, she had 250 pupils, and within 12 years, eight buildings. Most of the pupils were girls because she knew from experience that girls were held back from improvement by not only the white culture but also the Black patriarchy. . She haunted the trash sites for broken furniture that could be repaired enough to be used by those who had nothing. She used charcoal sticks because there was not money for pencils. She tramped the bypaths of the Daytona countryside for any sort of materials. It was a feat that gained her world-wide attention for she taught her girls to be fine human beings as she educated them far better than most girls of her era could ever dream of. In 1936 she was appointed Director of the Division of Negro Affairs of the National Youth Administration. She was a close friend of Eleanor Roosevelt, which enabled her to act as a special adviser to President Roosevelt. She was an official observer for the U.S. at organizational meetings of the United Nations. She founded the National Council of Negro Women, served as president of the National Association of Colored Women, and the Florida Federation of Colored Women, and was vice- president of the NAACP 1940-1955. For 30 years she was the most influential Black person in the nation, advocating education as the way out of poverty and prejudice - especially for Black women. Her philosophy was conciliation rather than confrontation, urging Blacks to become active in politics as the one sure way of progress. Her influence went beyond just committee meetings and schools. She was a symbol - a first - that marched first into the White House, the first into luncheon meetings, the first into government hearings - the first black person to take a majory role stage in U.S. politics.At nine, she picked 250 pounds of cotton a day. She finally learned to read when a school for blacks opened about five miles away. Being the youngest and the one who could be spared from the fields, she walked both ways and taught other members of her family at night. When Mary Crissman, a white Denver, Colorado, dressmaker, offered to pay for the education of a worthy girl, Mary was chosen. No more worthy a student could have been chosen. MMB shared her education with other black children by teaching school in several locations and then after marriage settled in Daytona Beach, where a large black population stayed after the building of the railroad into Florida. In 1923 her school was amalgamated with a Black men's college from Jacksonville, Florida, and became the Bethune- Cookman College in Daytona. She was the president until 1942 and then president emeritus until 1947. Under her direction the enrollment exceed 1,000 and attained full accreditation.
http://www.lkwdpl.org/wihohio/beth-mar.htm
http://www.usca.sc.edu/aasc/bethune.htm
http://tps.cr.nps.gov/nhl/detail.cfm?ResourceId=1428&ResourceType=Building
http://women.eb.com/women/articles/Bethune_Mary_McLeod.html
    1885-Mary O'Hara birthday - U.S. novelist and screenwriter whose My Friend Flicka (1941) was a runaway best seller. It also became a very popular movie as did several of her other books. As a screenwriter, her most noted film adaptation was that of Prisoner of Zenda. Leaving Hollywood, she ran a dairy farm in Wyoming single- handed.
http://www.library.georgetown.edu/dept/speccoll/cl166.htm
    1890- Wyoming became the 44 th state. After the adoption of the constitution, Wyoming became the first state to grant voting rights to women. Women had vote din Wyoming from the beginning of its existence as a territory. The first territorial legislation extended the vote to women on December 10, 1869. The 44th state was named after an Algonquin Indian word meaning ‘large prairie place'. The Indian paintbrush that covers much of the large prairie is the state flower and the meadowlark, frequently seen circling the prairie land, is the state bird. Another Indian term, Cheyenne, is also the name of the state capital. Wyoming is called the Equality State because it is the first state to have granted women the right to vote (1869).
http://www.state.wy.us/
    1886- Captain George Wellington Streeter's scow, the "Reutan" ran aground on a sandbar in Lake Michigan on the Chicago waterfront. The wreck caused the sandbar to grow, marshland filled it in, & Streeter proclaimed it a free district open to the poor, homeless, tramps, etc.
http://www.wikipedia.org/wiki/Captain_George_Streeter
http://virtualchicagoland.com/c/details.php?id=755
http://condor.depaul.edu/~lincoln/dischi/ashore.html
    1889-birthday of songwriter, bandleader Noble Sissle, Indianapolis, IN
http://www.redhotjazz.com/sissleio.html
http://www.jass.com/sissle.html
http://www.redhotjazz.com/sissleandblake.html
    1905- singer Ivie Marie Anderson birthday. She was discovered in the famed Cotton Club revues in Harlem and became the featured singer with the Duke Ellington band 1931-42.
http://www.aaregistry.com/african_american_history/638/
The_Voice_of_Ellington_Ivie_Anderson

http://www.musicweb.uk.net/jazz/2001/Dec01/ebony.htm
    1907-birthday of guitarist Blind Boy Fuller (Fulton Allen), Wadesboro, NC
http://www.geocities.com/BourbonStreet/Delta/2541/blbboyf.htm
http://www.allmusic.com/cg/x.dll?p=amg&sql=B342
http://www.yazoorecords.com/1060.htm
http://www.bobdylanroots.com/bbfuller.html
http://members.aol.com/Trucknlittlemama/bbfhms.htm
    1913 - The mercury hit 134 degrees at Greenland Ranch in Death Valley, CA, the hottest reading of record for the North American continent. Sandstorm conditions accompanied the heat. The high the previous day was 129 degrees, following a morning low of 93 degrees.
    1915-Pianist/Organ player Milt Buckner birthday
http://www.spaceagepop.com/buckner.htm
    1923- Jean Kerr birthday, U.S. playwright and humorist. She became a best selling author with Please Don't Eat the Daisies (1957). Died January 7,2003
http://www.playbill.com/news/article/77193.html
http://www.quotationspage.com/quotes/Jean_Kerr/
    1925-The famous 'Scopes Monkey Trial' began in Dayton, TN, after high school biology teacher John T. Scopes, 24, was charged with teaching evolution to his students.
http://www.dimensional.com/~randl/scopes.htm
    1926-Lightning set off an ammunition magazine in Northern New Jersey, causing a red ball of fire and triggering a series of explosions destroying all buildings within 1/2 mile radius. debris from the explosion fell as far as 25 miles away. 16 people were killed and property damage set at $70 million
    1929- the dollar bill actually got smaller as $823 million bills were printed to replace the older large-size currency; $4,997 million was in circulation.
http://www.bep.treas.gov/document.cfm/18/106
http://www.ginniemae.gov/homezone/brainfood/coolfacts.html
in addition to the above, for more trivia, the size of computer cards, used by IBM and others came about due to the size of dollar boxes that the inventor Hollerith used for his machine to calibrate the census ( the US was growing so fast that by the time the census was completed, often four to five years or longer with many errors, so a tabulating machine was used invented by Hollerith, which lead to other computing type machines. The card measures 3.25 by 7.375 inches, the same size as the 1887 US paper currency because Hollerith used Treasury Department containers as card boxes (US banknotes were reduced in size by about 20% to their present dimensions in 1929).
http://www.columbia.edu/acis/history/hollerith.html
    1933- the first police radio system connecting headquarters to patrol cars, and from patrol cars to other patrol cars, was installed in Eastchester Township, NY. The car were placed in operation on July 10 and were under the direction of Sergeant William E. Robinson.
    1933-birthday of vocalist Jumpin' Gene Simmons, Tupelo, MS
http://www.countrymusicplanet.com/gene.htm
http://www.rockabilly.nl/lyrics2/h0053.htm
http://rocker99.rockabilly.nl/artists/gsimmons.htm
    1934-In baseball's second All-Star game, National League pitcher Carl Hubbell of the New York Giants struck out Babe Ruth, Lou Gehrig, Jimmie Foxx, Al Simmons and Joe Cronin in succession. All five were later inducted into the Hall of Fame. Hubbell gave up only two hits in three innings, but the American League won the game, 9-7.
    1936 - Afternoon highs of 112 degrees at Martinsburg, WV, 109 degrees at Cumberland, MD, and Frederick, MD, 110 degrees at Runyon, NJ, and 111 degrees at Phoenixville, PA, established all-time record highs for those four states. It was the hottest day of record for the Middle Atlantic Coast Region.
    1936- 111ø F (44ø C), Phoenixville, Pennsylvania (state record)
    1936 - Billie Holiday recorded "Billie's Blues" for Okeh Records, along with Bunny Berigan, Artie Shaw and Cozy Cole.
http://www.heptune.com/billiesb.html
http://www.amazon.com/exec/obidos/ASIN/B000001NKA/recommendedrea06/
102-8917386-9557756

http://www.billie-holiday.net/intro.html
http://www.duke.edu/~miness/index.htm
http://www.billieholidaycircle.freeserve.co.uk/
http://www.geocities.com/SunsetStrip/Amphitheatre/2964/Billie.html
http://www.vervemusicgroup.com/grp/product.asp?pid=9125
    1936-Outfielder Chuck Klein of the Philadelphia Phillies became the fourth player in major-league history to hit four homes runs in one game. He completed the feat in a 10-inning game against the Pittsburgh Pirates in Forbes Field. The Phillies won, 9-6.
    1938-birthday of trumpet player Lee Morgan, Philadelphia, PA, Died 19,1972
http://members.tripod.com/~hardbop/mogie.html
http://blackhistory.eb.com/micro/726/95.html
http://www.fsinet.or.jp/~lee/lee/leebio.htm
http://www.jpc-music.com/5556805.htm
http://www.fsinet.or.jp/~lee/lee/leemorgn.htm
    1941-Trumpeter Bobby Hackett joins the Glenn Miller Band (String of Pearls and many other “historic” jazz solos, also a great Dixieland trumpet player, plus was featured in the great Jackie Gleason Orchestra recordings. Outstanding.).
http://www.libertyhall.com/bobby.html
http://www.spaceagepop.com/hackett.htm
http://www.landing.com/profiles/hackett.htm
Jelly Roll Morton birthday
Died July 10,1941
http://www.redhotjazz.com/jellyroll.html
http://www.doctorjazz.freeserve.co.uk/page10.html
http://www.jazzitude.com/morton.htm
http://www.canehdian.com/non/artists/m/jellyrollmorton/biography.html
http://www.geocities.com/infrogmation/Morton.html
http://www.southernmusic.net/jellybio.htm
http://www.redhotjazz.com/jrmtrio.html
http://www.pbs.org/jazz/biography/artist_id_morton_jelly_roll.htm
    1941— Normally we only salute birthdays, but since the Library of Congress notes this, we also note the death of pianist and composer Jelly Roll Morton, who claimed he invented jazz, died in Los Angeles at age 50. Morton, born Ferdinand La Menthe in New Orleans, who claimed he invented jazz. Whether he did or did not, he was the first jazz composer to put his works down on paper. Among the jazz classics that flowed from Morton's pen were "Jelly Roll Blues," "Wolverine Blues" and "King Porter Stomp." Morton's peak years of popularity were from 1917 to 1922, when his Red Hot Peppers Band played college and hotel dates and recorded for the Victor company. But with the coming of the swing era in the 1930's, Morton's combination of ragtime and blues was considered old-fashioned. He recorded his music and his life story for the Library of Congress three years before his death.
http://memory.loc.gov/ammem/today/jul10.html
    1943--*PARLE, JOHN JOSEPH Medal of Honor Rank and organization: Ensign, U.S. Naval Reserve. Born: 26 May 1920, Omaha, Nebr. Accredited to: Nebraska. Citation: For valor and courage above and beyond the call of duty as Officer-in-Charge of Small Boats in the U.S.S. LST 375 during the amphibious assault on the island of Sicily, 9-10 July 1943. Realizing that a detonation of explosives would prematurely disclose to the enemy the assault about to be carried out, and with full knowledge of the peril involved, Ens. Parle unhesitatingly risked his life to extinguish a smoke pot accidentally ignited in a boat carrying charges of high explosives, detonating fuses and ammunition. Undaunted by fire and blinding smoke, he entered the craft, quickly snuffed out a burning fuse, and after failing in his desperate efforts to extinguish the fire pot, finally seized it with both hands and threw it over the side. Although he succumbed a week later from smoke and fumes inhaled, Ens. Parle's heroic self-sacrifice prevented grave damage to the ship and personnel and insured the security of a vital mission. He gallantly gave his life in the service of his country.
    1943- “Operation Husky” began, the Allied infantry attack on Italy, on the island of Sicily. The British entry into Syracuse was the first Allied success in Europe. General Dwight D. Eisenhower, the Allied Commander in Chief, described the invasion as “the first page in the liberation of the European Continent.”
    1943-birthday of tennis legend Arthur Ashe, also the first African-American renown tennis player. He was chosen for the US Davis Cup team in 1963 and became captain in 1980. He won the US men's singles championship and US Open in 1968 and in 1975, the men's singles at Wimbledon. Ashe won a total of 33 career titles. In 1985 he was inducted into the International Tennis Hall of Fame. A social activist, Ashe worked to eliminate racism and stereotyping. He helped create inner-city tennis programs for young and wrote the three-volume “ A Hard Road to Glory: A History of the African-American Athlete.” Aware that USA Today intended to publish an article revealing the he was inflected with the AIDS virus, Ashe announced, April 8, 1992, that he probably contracted HIV through a transfusion during bypass surgery in 1983. He began fund raising activities and during his last years, campaigned for public awareness regarding the AID epidemic.
http://www.nytimes.com/learning/general/onthisday/bday/0710.html
http://xroads.virginia.edu/~UG97/monument/ashe.html
http://www.arthurasheinstitute.org/
    1947- singer Arlo Guthrie was born in Coney Island, New York, the eldest son of famed folk singer Woody Guthrie. Arlo is best known for the underground favorite, "Alice's Restaurant," released in 1967, and the 1972 hit "City of New Orleans." One of Arlo Guthrie's first professional appearances was on the CTV network show "Let's Sing Out" in 1966.
http://www.arlo.net/
http://www.newberkshire.com/adg.html
    1951---Top Hits
Too Young - Nat King Cole
Mister and Mississippi - Patti Page
On Top of Old Smokey - The Weavers (vocal: Terry Gilkyson)
I Want to Be with You Always - Lefty Frizzell
    1954- New York radio station WINS announced the hiring of pioneer rock disc jockey Alan Freed to be the host of their "Rock 'n' Roll Party." As he did on his earlier "Moondog's Rock 'n Roll Party Show" on WJW in Cleveland, Freed programmed records by black R'n'B artists that many white teenagers had never heard before. Freed is often credited with coining the term rock 'n' roll.
http://www.alanfreed.com/biography.html
    1954-Producer Sam Phillips took an acetate of Elvis Presley singing "That's All Right" to DJ Dewey Phillips at Memphis radio station WHBQ. After Dewey played the song on the air around 9:30 that evening, listeners flooded the phone lines, requesting to hear the song again.
    1955--SCHOONOVER, DAN D. Medal of Honor Rank and organization: Corporal, U.S. Army, Company A, 13th Engineer Combat Battalion, 7th Infantry Division. Place and date: Near Sokkogae, Korea, 8 to 10 July 1953. Entered service at: Boise, Idaho. Born: 8 October 1933, Boise, Idaho. G.O. No.: 5, 14 January 1955. Citation: Cpl. Schoonover, distinguished himself by conspicuous gallantry and outstanding courage above and beyond the call of duty in action against the enemy. He was in charge of an engineer demolition squad attached to an infantry company which was committed to dislodge the enemy from a vital hill. Realizing that the heavy fighting and intense enemy fire made it impossible to carry out his mission, he voluntarily employed his unit as a rifle squad and, forging up the steep barren slope, participated in the assault on hostile positions. When an artillery round exploded on the roof of an enemy bunker, he courageously ran forward and leaped into the position, killing 1 hostile infantryman and taking another prisoner. Later in the action, when friendly forces were pinned down by vicious fire from another enemy bunker, he dashed through the hail of fire, hurled grenades in the nearest aperture, then ran to the doorway and emptied his pistol, killing the remainder of the enemy. His brave action neutralized the position and enabled friendly troops to continue their advance to the crest of the hill. When the enemy counterattacked he constantly exposed himself to the heavy bombardment to direct the fire of his men and to call in an effective artillery barrage on hostile forces. Although the company was relieved early the following morning, he voluntarily remained in the area, manned a machine gun for several hours, and subsequently joined another assault on enemy emplacements. When last seen he was operating an automatic rifle with devastating effect until mortally wounded by artillery fire. Cpl. Schoonover's heroic leadership during 2 days of heavy fighting, superb personal bravery, and willing self-sacrifice inspired his comrades and saved many lives, reflecting lasting glory upon himself and upholding the honored traditions of the military service.
    1959---Top Hits
Lonely Boy - Paul Anka
Dream Lover - Bobby Darin
Bobby Sox to Stockings - Frankie Avalon
The Battle of New Orleans
    1961-Tossin' and Turnin'" by Bobby Lewis topped the charts and stayed there for 7 weeks.
    1962 - The "Telstar" communications satellite was successfully launched from Cape Canaveral, FL. "Telstar" would usher in a new age of communication via telephone and TV, with voice and picture transmission from Europe to America and back. Signals were picked up by a 38-ton antenna in Andover, Maine. To commemorate the event, an instrumental hit by the Tornadoes, an English surf-rock group, made it to number one for three weeks in November, 1962. It was titled, "Telstar", of course.- Johnny Horton
    1962-Democratic National Convention (July 10-14) nominated Senator George S. McGovern of South Dakota and Senator Thomas F. Eagleton of Missouri for vice-president. On July 25 Eagleton confirmed rumors that he had received psychiatric treatment three times from 1960 to 1966 for nervous exhaustion and fatigue. On July 31, Eagleton withdrew from the campaign. On August 8, R. Sargent Shriver, former head of the Peace Corps, succeeded Eagleton on the ticket. Richard M. Nixon went on the win the greatest Republican landslide in history with Spiro T. Agnew reelected vice president. The electoral vote was Nixon, 521; Senator George S. McGovern, 17. The popular vote was Nixon 45,767,218 to McGovern 28,357,668. The landslide victory of President Richard M. Nixon was interpreted by some as a vote of confidence in the Nixon administration's polices; however, in 1963, the Watergate incidence brought about an investigation and call for copies of the tapes of conversation. In August, Vice-President Spiro T. Agnew revealed he was under investigation in connection with official corruption in Maryland that took place when he served as Baltimore County executive and governor of Maryland, including payments brought to his at his desk at the White House. By the year's end, his administration was in deep trouble and Nixon was under great pressure by those in his cabinet to resign.
    1963-Martha and the Vandellas release "Heatwave", which will reach #4 in the US by mid-August.
    1965-The Rolling Stones classic rocker "Satisfaction" was number one in the US on both the Cashbox and Billboard charts.
    1965-Wilson Pickett's "In The Midnight Hour" is released, as is Sonny and Cher's "I Got You Babe".
    1965 - The Rolling Stones, who took their name from a Muddy Waters song, hit the top spot on the "Billboard" chart. It was their first time at the top Satisfaction", stayed at number one for 4 weeks. Considered by many to be the greatest rock band in the world, "Satisfaction" remains the Stones' signature.
    1967---Top Hits
Windy - The Association
Little Bit o' Soul - The Music Explosion
Can't Take My Eyes Off You - Frankie Valli
All the Time - Jack Greene
    1966-Cat Stevens cuts his first record, "I Love My Dog" at Decca Records' studio in London. It would peak at #28 in the UK the following November.
    1967- Kenny Rogers and several other members of the New Christy Minstrels quit to form the First Edition. The new group received their first national exposure on the Smothers Brothers TV show, and went on to have such hits as "Just Dropped In (To See What Condition My Condition Was In)" in 1968, "Ruby, Don't Take Your Love to Town" in 1969 and 1971's "Something's Burning." Kenny Rogers began his solo career in 1974.
http://www.delafont.com/music_acts/Kenny-Rogers.htm 
    1967-Bobbie Gentry records "Ode to Billie Joe", which will top the Billboard chart by next August.
    1968- guitarist Eric Clapton announced the breakup of Cream, the power rock trio he had formed with bassist Jack Bruce and drummer Ginger Baker. Cream played a farewell concert in London in November, and Clapton and Baker then formed the short-lived Blind Faith.
http://www.claptononline.com/
    1975---Top Hits
Love Will Keep Us Together - The Captain & Tennille
The Hustle - Van McCoy & The Soul City Symphony
Listen to What the Man Said - Wings
Lizzie and the Rainman - Tanya Tucker
    1975- after being married for only ten days, Cher petitioned for divorce from Greg Allman.
http://www.epiccenter.com/greggallman/
    1976-The Starland Vocal Band, the first act to be signed to John Denver's new Windsong label, had the top tune on the Billboard chart with "Afternoon Delight".
    1980- Ayatollah Khomeini releases Iran hostage Richard I Queen, US Vice-consul, due to his illness.
    1976-"Afternoon Delight" by the Starland Vocal Band topped the charts and stayed there for 2 weeks.
    1980 - The temperature in downtown Kansas City, MO, hit 109 degrees, following a sultry overnight low of 89 degrees. The daily low of 89 degrees was the warmest of record for Kansas City, and overall it was the hottest July day of record. It was the seventh of a record seventeen consecutive days of 100 degree heat, and the mean temperature for the month of 90.2 degrees was also an all-time record for Kansas City.
    1983---Top Hits
Every Breath You Take - The Police
Never Gonna Let You Go - Sergio Mendez
Too Shy - Kajagoogoo
Highway 40 Blues - Ricky Skaggs
    1985 - The Coca-Cola Company announced that the former (regular) Coke was coming back to share shelf space with the New Coke, after a consumer furor. The original formula was renamed Coca-Cola Classic.
    1986- Grateful Dead lead guitarist Jerry Garcia lapsed into a diabetic coma in Greenbrae, California. He recovered, and was released from hospital three weeks later - on his 44th birthday.
    1989-One of the northeast's largest severe weather outbreaks with at least 15 tornadoes.1989 - Severe thunderstorms spawned seventeen tornadoes in the northeastern U.S. A powerful (F-4) tornado struck Hamden CT and New Haven, CT, causing 100 million dollars damage at Hamden, and another 20 million dollars damage around New Haven. Forty persons were injured in the tornado. Seventy persons were injured in a tornado which traveled from Watertown, CT, to Waterbury, CT, and another powerful (F-4) tornado touched down near Ames NY injuring twenty persons along its 43.5 mile track. It was the strongest tornado of record for eastern New York State. An F3 tornado ripped through Montgomery, Schoharie, Albany and Greene counties in New York causing $20 million in damage and injuring 20 people. Another F3 tornado nearly wiped out the town of Bantam, CT. $100 million damage was done by another tornado, rated an F4 over Hamden, CT. Other tornadoes struck New York City, northern New Jersey, central and eastern Massachusetts Oxford, CT had over 4.4 inches in just 30 minutes from the same complex that spawned the tornadoes in New York and Connecticut. That complex in the first 5 hours produced well over 12,500 lightning strikes
    1991---Top Hits
Rush, Rush - Paula Abdul
Unbelievable - EMF
Right Here, Right Now - Jesus Jones
Don't Rock the Jukebox - Alan Jackson
    1991-President George Bush lifted US trade and investment sanctions against South Africa. The sanctions had been imposed through the Comprehensive Anti-Apartheid Act of 1986, which Congress had passed to punish South Africa for policies of racial separation.
    1993-"Weak" by SWV topped the charts and stayed there for 2 weeks.)
    1998 - "Lethal Weapon 4" premiered, garnering $34.05 box-office bucks its opening weekend. Martin Riggs (Mel Gibson) and Roger Murtaugh (Danny Glover) are on the hit list of the nasty Chinese Triads. Riggs and Murtaugh are helped(?) by Leo Getz (Joe Pesci) and Lee Butters (Chris Rock). Lorna Cole (played by Rene Russo) is Riggs' sweetie this time around.
    1999 -The Yankees' winning streak of 124 consecutive games when they led entering the ninth ends as pinch-hitter Matt Franco singles off Mariano Rivera giving the Mets a dramatic come-from-behind Subway Series inter-league victory, 9-8.
    2001 -In his final All-Star appearance, Cal Ripken is named the MVP of the game. His home run along with consecutive dingers from Derek Jeter and Magglio Ordonez power the AL to its fifth victory in a row beating the National League at Seattle's Safeco Field, 4-1.
    2002 -Bobby-Jo Williams Ferrell, Ted Williams' oldest daughter, in an open letter urges former Senator John Glenn and President Bush to help in preventing her half-brother, John Henry, from freezing the body of their dad at a cryonics lab in Arizona. She believes it her father's wish to be cremated and not frozen.

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Baseball Poem

WHAT DOES HE KEEP IN HIS BAG?

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

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

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

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

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

http://leasingnews.org/Soduku/soduko-main.htm

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Daily Puzzle

How to play:
http://www.setgame.com/set/puzzle_frame.htm

Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm

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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx

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Weather

See USA map, click to specific area, no commercials

http://www.weather.gov/

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Traffic Live---

Real Time Traffic Information

You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live

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