Why I Became a CLP

TAMARA MCCOURT, CCE, CLP
Credit Manager
Innovative Lease Services, Inc.®

When I started working in the leasing industry I had just turned 22 years old and never possibly imagined making a career out of it. I was the nanny for the owner of the leasing company and I was asked to work for a few hours part time in the morning before I headed off to the mall to work my two daytime jobs at Radio Shack and a specialty kitchen store. Within a month I quick the mall jobs and began my full time job in leasing. The owner’s wife was the VP of the company and would only allow me to work there under the condition that I could not quit as babysitter. For three years I worked there while babysitting as well. Not once did it become clear to me that this would be a lifelong career path. I learned a great deal during those three years. My boss told me that I was a diamond in the rough. I did not know what he meant at the time, but I will never forget the experiences that he taught me.

I moved to the city and kept with leasing by going into sales for a small broker. Since I also knew how to work the credit desk and do documentation, I also served as a trainer for ops. Looking back that is a rather odd job for a sales rep. Life is leasing was a great deal different back then. You had to wait for a customer to mail you financials or if you got lucky they would send by FedEx. Then you would have to overnight them to a lender to review. No one was using email or the internet too much. Fax machine was the greatest. Then along came Colonial Pacific’s Bliss system. Life was good.

I heard about the CLP right about the time that I had 5 years in the industry. It was about this time that I made a bold change. I left leasing and went back to school and starting working as a credit manager. During this time I went on to get my certification in credit management and became a Certified Credit Executive. I also became very involved in the credit association and served on the board of directors for the local association of credit managers (NACM-Western WA). While at a weeklong financial statement analysis course, I ran into the business partner of the first leasing company I worked for. He offered me a position and after much thought, I came back to the world of leasing. About 2 months after emerging myself back into leasing, I was encouraged to take the CLP exam. I already knew the significance of receiving my certification in credit so going for my CLP was a no brainer.

I think getting my CLP made me most proud. My credit certification was about credit. CLP is about credit, sales, pricing, lease history, portfolio management, collections, law, and so much more. It has made a major impact on my career as well. I cannot count how many times I heard someone say, “and she has her CLP”. I think people take you a little more seriously and that you know what you’re talking about and doing. Provides credibility whether it is with customers, lenders, employees or industry peers. The CLP Foundation has provided a great resource of tools through the CLP Handbook as well as educational materials used to train at CLP classes. I highly recommend both the handbook and the classes to anyone considering becoming a CLP. Remember, the CLP is for everyone. You are not required to be in a management position or work for a large company. Everyone working in the industry for the required amount of time can benefit from becoming a CLP.

(Taken recently while visiting Guinness, Dublin, Ireland)

Previous "Why I Became a CLP"
http://www.leasingnews.org/CLP/Index.htm

www.clpfoundation.org

The Secret of Our Success
by Ed Kaye, Advantage Funding

"I think Advantage Funding is the industry leader in ground transportation finance. PFSC has had the pleasure of working closely with Advantage and has thoroughly enjoyed watching and participating in their success. As a Marubeni Group Company, Advantage Funding has been insulated from the turmoil in the capital markets, allowing them to remain a consistent and reliable financing source in the markets they serve. While many equipment finance companies have faltered, Ed Kaye and his partners have continued to improve upon their leadership position in the leasing industry."
John Enyart, President, Portfolio Financial Servicing Company (PFSC)

Eric C. Coolbaugh, Vice President; Michael P. Kaplan, Secretary Treasurer; Edward P. Kaye, President

Nobody says they want to go into the leasing business when they grow up. But for the three partners that started Advantage Funding, it worked out well.

After 10 year careers with a large independent auto leasing firm, the three account representatives, Edward Kaye, Eric Coolbaugh, and Michael Kaplan found themselves without a home. Their employer decided to relocate from their native New York City to Florida and the three did not like the way the business was heading and decided to start their own firm, Advantage Funding.

“In hindsight, it was the best move of our lives,” says Kaye, the current president and a principal of Advantage. “We each kicked in $7,500, rented a small office, purchased an inexpensive phone system and made cardboard boxes our desks,” he added. “We were very young, worked very hard and had fun every day,” he stated.

“We started out as brokers for the first several months with existing bank and leasing company relationships and quickly realized that we needed recourse leasing lines to grow the business,” said Eric Coolbaugh, vice president and a principal. “The first lender to provide a warehouse line of credit was Ford Motor Credit,” he added. In the late 1990s it was relatively easy to obtain bank lines and the three were able to leverage lines with All Points Capital (now a subsidiary of CapitalOne Bank), Sovereign Bank (now Banco Santander), European American Bank (now Citigroup), and New World Lease Funding, which was all they needed to grow their modest investment into an $80 million portfolio.

With good portfolio performance and disciplined buying habits the company steadily grew, adding staff and eventually moving to larger offices with real desks and furniture. “Although it certainly was not what many people expected to see when they walked into our office, a converted two story dye house in an industrial neighborhood, we called it home. We never believed in investing a lot of capital in window dressing,” said Michael Kaplan, secretary treasurer and a principal. “We always had the same goal of investing in the business for the long term,” he said.

Advantage Funding specializes in direct and indirect niche transportation finance and leasing. Their target transactions are leases and loans of new and used commercial coaches, minibuses, school buses, paratransit vans, ambulances and limousines. They also establish captive finance programs for commercial transportation equipment manufacturers. They do not fund trucks, trailers, or any collateral with residual value risk.

“In 2001 business was very good. New business volume was up, delinquency was down, and we had healthy margins. Then 9/11 happened,” Kaye says.

At the time Advantage was the largest independent finance company to the Black Car industry (prearranged chauffeured sedan transportation) in the City of New York. “We suffered enormous losses but didn’t panic,” Coolbaugh says. “We created special finance programs to liquidate the repossessions,” he added. “We kept the banks informed of our activity, they supported us, and it worked out,” Kaplan says. All of Advantage’s lenders were paid 100% on the dollar after 9/11, according to Kaye.

In 2006, the company caught the attention of Marubeni America Corporation (www.marubeni-usa.com), the North American subsidiary of Marubeni Corporation (www.marubeni.com), the multinational Japanese trading conglomerate. “We were still happy doing what we were doing but decided after 9/11 that having a large partner had its benefits,” Kaplan says.

The main concern for Advantage was management and existing employees remain in place after the acquisition. Marubeni agreed, according to Kaye, and they purchased a majority stake in the company. “Marubeni immediately lowered our internal cost of funds and provided treasury and financial support services that otherwise would not be available to us,” Coolbaugh says.

With Marubeni’s backing, the company self funds all of its transactions and has grown the portfolio to over 4,000 vehicles or $300 million. Marubeni’s involvement was important in growing the business but the three partners give equal credit to their loyal and dedicated sales people, back office staff, and customers.

“We have worked with many of our sales people and employees for close to 20 years. They have devoted their lives to our business and we are fortunate to have such long standing relationships with them,” Kaplan says. “Many of our customers have been with us for 20 years as well,” added Kaye. They were loyal to us before Advantage was formed and stayed with us,” he said.

The three partners function as one unit in managing the daily operation. Given the current challenges the economy is experiencing, the three have a clear direction in how to lead the company through this cycle.

“We each bring something unique to the table and respect each others’ opinions. This is what makes the partnership, and ultimately the company strong” Coolbaugh says. In today’s economy there are a lot of issues to deal with and it helps that we have a clear direction and understanding of what it takes to succeed in difficult times.” “It’s hard enough battling customers, we do not want to spend any energy battling your partners,” Kaplan says.

Advantage has 10 salespeople strategically located throughout the United States and 30 employees in its corporate headquarters in Lake Success, Long Island, New York. The portfolio is serviced by the third party servicing agent, PFSC of Portland, Oregon.

“When we look back at what we’ve accomplished and how we got here, it makes you realize how lucky we have been in a career we each fell into,” Kaye says. “We’ve come a long way and we could not have planned it better.”

Edward P. Kaye, President; Eric C. Coolbaugh, Vice President; Michael P. Kaplan, Secretary Treasurer

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139 banks and thrifts miss May '12 TARP dividend

By Tyler Hall and Andrew Wolcott
SNL Financial

According to a June 11 Treasury report, 139 banks and thrifts missed their May 15 TARP dividend payment required under the Capital Purchase Program. This is a decrease of eight from the prior quarter.

In February 2012 and November 2011, 147 and 145 institutions deferred their dividend payments, respectively. In August 2011, 147 deferred payments.

The 139 institutions that deferred the latest TARP dividend payment received a total of $3.2 billion in CPP funds, which comprises 1.6% of the $204.9 billion received by the 707 institutions under the CPP. Of the 139, only three companies were previously current on all dividend payments. BancTrust Financial Group Inc., Community West Bancshares and Severn Bancorp Inc. combined owed the Treasury $1.1 million in May.

All three first-timers are holding companies, which means they must pay cumulative dividends and missed payments accrue. Banks without holding company status pay noncumulative dividends, and missed payments do not accrue. In some cases, state regulators can restrict banks from paying dividends if their accumulated earnings do not meet a certain threshold. Some banks also must attain shareholder approval before paying dividends.

Despite the number of companies missing dividends declining from the prior quarter, the number of companies missing at least six payments rose significantly to 102, from 89 in the prior quarter. That translates to 73% of the 139. Under the terms of the CPP, the Treasury has the right to elect up to two directors to the board of any institution that misses six dividend payments. 48 companies have agreed to have a Treasury observer attend board meetings. This is up by eight from February. Only nine companies have actually had board members elected by the Treasury. It prioritizes these types of elections in part by focusing on those institutions that have a least a $25 million investment.

Timberland Bancorp Inc. and Community Bankers Trust Corp. avoided the possibility of having Treasury-elected board members by paying the current and some of their missed dividends. They both now only have five outstanding missed payments.

Some companies managed to pay back all accrued dividends. Heritage Oaks Bancorp and Crescent Financial Bancshares Inc. became current on all their missed dividends this quarter. They previously had eight and five missed payments outstanding, respectively.

Other companies had their TARP redeemed through acquisitions. First Volunteer Corp. purchased Gateway Bancshares Inc. and redeemed all of its TARP, including two unpaid dividends.

Fort Lee Federal Savings Bank FSB was placed into receivership by the OCC on April 4, leaving six missed dividend payments outstanding.

Subchapter S interest deferrals

Subchapter S corporations issued subordinated debt instead of preferred stock in the Capital Purchase Program. Twelve of these institutions missed the May interest payment on their CPP subordinated debt, with the largest being New Orleans-based First Trust Corp. Its ninth missed payment in a row resulted in cumulative unpaid interest of $3.39 million. Including First Trust, seven Subchapter S corporations have now missed six or more interest payments.

Of the 12 Subchapter S corporations that have missed their May interest payment, two are first-timers, OneFinancial Corp. and Plato Holdings Inc. OneFinancial Corp has been in the news recently due to a former vice president of its banking subsidiary pleading guilty to bank fraud, money laundering and identity theft. Plato Holdings, Inc. through its banking subsidiary aggressively trimmed its loan and lease book in the first quarter of 2012, cutting loan and lease balances by 6.42 %, quarter over quarter.

As of the May report, First Trust and Security State Bank Holding Co. are the only two subchapter S corporations that have agreed to have a Treasury observer attend board meetings and where an observer has been assigned.

Security State Bank Holding Co. is the third subchapter S corporation to accept a board of director’s appointee from the Treasury. The first, Duke Financial Group Inc., has since repaid its seven missed dividend payments and is current. However, as of May 31, Alliance Financial Services Inc. has declined the Treasury's request to have a Treasury observer attend board of directors meetings.

Combining dividend and interest deferrers, 151 companies missed the May payment. Through May 31, the Treasury had received a total of $11.67 billion, including $91.7 million in May, in dividend and interest payments on securities issued under the CPP.

Community Development Capital Initiative

In addition to those missing dividend and interest payments under the CPP, four institutions have missed payments on their investments received under the Community Development Capital Initiative; this includes Community Bank of the Bay, which transferred into the CDCI, and excludes Wilmette, Ill.-based Premier Bancorp Inc., which was closed in March.

The CDCI is a TARP program implemented in February 2010 and targeted at institutions that lend to small businesses in particularly hard-hit areas of the country. Banks and thrifts participating in the program received capital with a 2% dividend or interest rate for the first eight years, increasing to 9% in year nine.

The 37 banks and thrifts in the program received $139.2 million in CDCI funds. Twenty-nine of these institutions transferred their combined $365.1 million of CPP investments to the program, thus bringing the total outstanding investment under the CDCI to $504.3 million. This number does not include the Treasury's $69.9 million investment in the 48 credit unions also participating in the program.

All four companies that missed payments on their CDCI investments originally participated in the CPP, and apart from Community Bank of the Bay, which transferred into the CDCI after four missed payments under the CPP program, none had missed payments. Brooklyn, N.Y.-based First American International Corp. and Chicago-based PGB Holdings Inc. missed their first five dividend payments. First Vernon Bancshares Inc. has missed six payments. Of note, Premier Bancorp Inc. was closed and placed into receivership by Illinois regulators March 23 after missing all six interest payments since joining the CDCI.

The Treasury has received $16.9 million in CDCI dividend and interest payments from banks and thrifts to date.

Tahir Ali contributed to this article.

Dachshund Mix--beautiful dog
Westland Village, California

Marianne
Sex: Female
Breed: Dachshund Mix
Color: Brown/Chocolate - With White
Age: Young
Size: Small 25 lbs (11 kg) or less

"I am good with kids, good with dogs, and good with cats."

Rescue Group: Labs and Buddies Rescue
Please email this shelter!
(They don't list their phone number here)
E-mail: info@labsandbuddies.org
Let 'em know you saw "Marianne" on Adopt-a-Pet.com!
Website: http://www.labsandbuddies.org
Address: 4333 Park Terrace Drive
Ste 205
Westlake Village, CA
91361

Our Adoption Process...

Our basic adoption fee is $300. Certain dogs may have a higher fee, which helps to support the rescue.

The first step is to submit our online application (found on the L&B website, www.labsandbuddies.org). The application lets us know about your lifestyle and preferences so we can introduce you to dogs that match what you're looking for. Although all our dogs (we think) are beautiful, choosing on looks alone doesn't guarantee a good match. Volunteers review the application and then contact you. Next is a meeting with your family and current dog(s), if any. Let us know if you have cats. A home check is necessary for puppies. Last step, the contract, payment, and a promise to send us photos!

We Serve the Following Cities, Towns, and/or Counties...

Most of Labs and Buddies dogs have found homes in southern California, from Orange County north to Santa Barbara County. A few of our dogs have traveled farther to the

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

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

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

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Classified ads— Operations / Remarketing / Repossessions

Leasing Industry Outsourcing
(Providing Services and Products)

All "Outsourcing" Classified ads (advertisers are both requested and responsible to keep their free ads up to date:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing.htm

How to Post a free "Outsourcing" classified ad:
http://www.leasingnews.org/Classified/Outsourcing/Outsourcing-post.htm

News Briefs----

World Leaders Make Little Headway in Solving Debt Crisis
http://www.nytimes.com/2012/06/20/world/leaders-make-little-headway-in-solving-europe-debt-crisis.html?_r=1&hp

Public Workers Face Continued Layoffs, Hurting the Recovery
http://www.nytimes.com/2012/06/20/business/public-workers-face-continued-layoffs-and-recovery-is-hurt.html?ref=business

Dimon, Testifying Before House, Sticks to Script
http://dealbook.nytimes.com/2012/06/19/dimon-testifying-before-house-sticks-to-script/?ref=business

Electronics Retailers Scramble to Adapt to Changing Market
http://www.nytimes.com/2012/06/19/business/electronics-stores-struggle-to-adapt-to-changing-market.html?src=me&ref=business

Top US Northwest companies of 2011
http://seattletimes.nwsource.com/html/nwcompanies/

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You May Have Missed---

Charter Schools Fall Short on Disabled
http://online.wsj.com/article/SB10001424052702303379204577477003893836734.html

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SparkPeople--Live Healthier and Longer

5 Secrets of Naturally Thin People
http://www.sparkpeople.com/resource/nutrition_articles.asp?id=1769

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Sports Briefs----

Hobbling James lifts Heat over Thunder for 3-1 series lead
http://www.usatoday.com/sports/basketball/nba/story/2012-06-19/Finals-Game-4-Heat-Thunder/55699782/1

Highest Paid Athletes in the World
http://blog.sfgate.com/sportsevents/2012/06/19/highest-paid-athletes-in-the-world/

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Baseball Poem

The original radio show of Abbott and Costello’s, “Who’s on First Base.”

http://www.abbottandcostello.net/clips/who1st2.wav

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California Nuts Briefs---

Immigration reprieve means thousands of new workers in California
http://www.contracostatimes.com/california/ci_20883383/deportation-relief-rules-still-being-developed

Tax rebate deals with Apple, Amazon and Netflix are bad news for communities
http://business-news.thestreet.com/mercury-news/story/obrien-tax-rebate-deals-apple-amazon-and-netflix-are-bad-news-communities/1

Sonoma County grape values down, sheep, apples up in 2011
http://www.pressdemocrat.com/article/20120619/BUSINESS/120619487/1350?Title=County-grape-values-fall-other-farm-products-rise

Tsunami Swell in Bodega Bay (slow opening, strange occurence) (2:44)
http://video.pressdemocrat.com/video/823029101001

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“Gimme that Wine”

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

$20-Plus Wines Down in Price, Up in Sales
http://www.winesandvines.com/template.cfm?section=news&content=102023&htitle=%2420-Plus%20Wines%20Down%20in%20Price%2C%20Up%20in%20Sales&

New Zealand Wine Recovery Bubbling
http://www.stuff.co.nz/business/farming/7131617/Wine-recovery-bubbling

Sonoma Fair Harvest Fair Wine Judging video
http://video.pressdemocrat.com/playlist/1475274983/

Los Angeles International Wine & Spirits Competition Announces Winners for 2012
http://www.marketwatch.com/story/los-angeles-international-wine-spirits-competition-announces-winners-for-2012-2012-06-18

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

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

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

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

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

     1621-The first duel of record took place between two servants of Stephen Hopkins, one of the leaders of the Plymouth Colony. Governor William Bradford’s decision was rendered as follows: “The Second Offense is the first Duel fought in New England, upon a Challenge at Single Combat with Sword and Dagger between Edward Dotey and Edward Leister, Servants of Mr. Hopkins; Both being wounded, the one in the Hand, the other in the Thigh; they are adjug’d by the whole Company to have their Head and Feet tied together, and so to lie for 24 hours, without Meat or Drink; which is begun to be inflicted, but within an Hour, because of their great Pains, at their own and their Master’s humble request, upon Promise of better Carriage, they are Released by the Governor.”
    1778-The British Redcoats evacuate Philadelphia. After almost nine months of occupation, the fifteen thousand British troops under Sir Henry Clinton evacuate Philadelphia, the former US capital. The British position in Philadelphia had become untenable after France’s entrance into the war on the side of the Americans. In order to avoid the French fleet, General Clinton was forced to lead his British-Hessian force to New York City by land. Other loyalists in the city sailed down the Delaware River to escape the Patriots, who returned to Philadelphia the day after the British departure.
http://www.wpi.edu/Academics/Depts/MilSci/BTSI/abs_phila.html
    1812-A after much debate in Congress between “hawks” such as Henry Clay and John Calhoun, and “doves” such as John Randolph, Congress issued a declaration of war on Great Britain on this day. The action was prompted primarily by Britain’s violation of America’s rights on the high seas and British incitement of Indian warfare on the frontier. War was seen by some as a way to acquire Florida and Canada. The hostilities ended with the signing of the Treaty of Ghent on Dec 24, 1814, at Ghent, Belgium. ( lower half of: http://memory.loc.gov/ammem/today/jun18.html )
    1811-The term Coodies came into the American language. The term Coodies was applied derisively to the faction of the Federalist Party that urged support for the War of 1812, a position highly unpopular with the majority of the party and the population of America, who did not want to go to war. The term derived from the series of pro-war articles written by Gulian Crommelin Verplanck, under the
pen name Abimeleck Coody. Verplanck was a distinguished editor, author, and Shakespearean scholar. People who were pro war were considered to have the Coodies. The epithet King Coody was applied to Rep. Roger Brooke Taney of Maryland, later chief justice of the Supreme Court.
    1812-After much debate in Congress between “hawks” such as Henry Clay and John Calhoun, and “doves” such as John Randolph, Congress issued a declaration of war on Great Britain. The action was prompted primarily by Britain’s violation of America’s rights of the high seas and British incitement of Indian warfare on the frontier. War was seen by some as a way to acquire Florida and Canada. The hostilities ended with the sign of the treaty of Ghent on December 24, 1814, Ghent, Belgium.
    1836-- Cynthia Ann Parker, a blue-eyed blonde Caucasian woman, was captured by the Comanche at age nine. When U.S. soldiers found her four years later in a Comanche camp where she was living under the name "Prelock," she refused to return. She said she was happy living as a Comanche. ///In 1860 she and her infant daughter were captured in a U.S. army raid and was forcibly detained. She was sent to Parker's father. The infant died soon after capture and Prelock died in 1864, according to legend, by starving herself to death longing to go back to the Comanche way of life. ///Her eldest son Quanah became chief of the Kwahadi tribe which held out against the white man. Some called him the most ferocious Indian who ever lived. In 1875 he suddenly brought his people in and settled near the Wichita Mountains in Oklahoma and saw to it that Comanche children went to school and were educated.
    1848-Captain Charles Welsh arrived in San Francisco. He was to build the first brick house in North Beach. A street was later named for him. 
    1848-Captain Charles Welsh arrived in San Francisco. He was to build the first brick house in North Beach. A street was later named for him.
    1851-The grant or patent of the "Suisun Rancho," was made for military services of Francisco Solano, Indian chief, and a Mexican citizen.
    1855, Abby Leach who in 1879 was one of the first women to be enrolled in the Harvard annex, the precursor of Radcliffe College. Later she became head of the Greek Department and very active during Vassar's formative years.
    1857-birthday of Henry Clay Folger, Jr., American businessman and industrial who developed one of the finest collections of Shakespearna in the world and bequeathed it ( The Folger Shakespeare Library, Washington, DC) to the American people. Born at New York, NY. Died June 11, 1930, at Brooklyn, NY. http://search.biography.com/print_record.pl?id=14824
    1863 - After repeated acts of insubordination, General Ulysses S. Grant relieves General John McClernand during the siege of Vicksburg.
    1864-At Petersburg, Grant ends 4 days of assaults.
The pontoon bridge serves to bring supplies, but no victories.
http://www2.cr.nps.gov/abpp/battles/va098.htm
http://members.aol.com/siege1864/richpete.html
    1864 - Union war hero Joshua Lawrence Chamberlain is severely wounded at Petersburg, Virginia, while leading an attack on a Confederate position. Chamberlain, a college professor from Maine, took a sabbatical to enlist in the Union army. As commander of the 20th Maine, he earned distinction at Gettysburg when he shored up the Union left flank and helped save Little Round Top for the Federals. His bold counterattack against the Confederates earned him the Congressional Medal of Honor. His wound at Petersburg was the most serious of the six he received during the war. Doctors in the field hospital pronounced his injury fatal, and Union General Ulysses S. Grant promoted him to brigadier general as a tribute to his service and bravery. Miraculously, he survived and spent the rest of the Petersburg campaign convalescing at his Maine home. He returned to the Army of the Potomac in time for Lee's surrender at Appomattox, and he was given the honor of accepting the arms of the Confederate infantry. Chamberlain returned to Maine after the war and served four terms as governor. He then became president of Bowdoin College—the institution that had refused to release him for military service—and held the position until 1883. Chamberlain remained active in veterans' affairs and, like many soldiers, attended regimental reunions and kept alive the camaraderie created during the war. He was present for the 50th anniversary of Gettysburg in 1913, one year before he died of an infection from the wound he suffered at Petersburg.
    1873 - Susan B. Anthony is fined $100 for attempting to vote for president.
    1877 - birthday of James Montgomery Flag, Pelham Manor, New York, creator of the illustration of Uncle Sam.
http://memory.loc.gov/ammem/today/jun18.html
    1878 - The 45th Congress enacted a rider on an Army appropriations bill that became known as the Posse Comitatus Act [Chapter 263, Section 15, U.S. Statutes, Vol. 20.] This act limited active-duty military involvement in civil law enforcement leaving the Revenue Cutter Service as the only military force consistently charged with federal law enforcement on the high seas and in U.S. waters and the militia, later to become the National Guard, available for such duty. The rider prohibited the use of the Army in domestic civilian law enforcement without Constitutional or Congressional authority. The use of the Navy was prohibited by regulation and the rider was amended in 1976 outlawing the use of the Air Force. In 1981, however, new legislation allowed the Secretary of Defense to bring Army, Navy, Air Force and Marine Corps support to civilian authorities in intelligence, equipment, base and research facilities, and related training.
    1892- Macadamia nuts first planted in Hawaii; became a major export item throughout the world
    1900--Birthday of author Laura Z. Hobson - wrote revolutionary novels about social injustices. Gentleman's Agreement dealt with anti-Semitism, Tenth Month, on unwed motherhood, Consenting Adult, on homosexuality.
    1906-birthday of Kay Keyser, American bandleader whose band, “ Kay Kyser’s Kollege of Musical Knowledge” enjoyed immense popularity tin the swing era. He was born James King Kern Kissers in Rocky Mount, NC. A shrewd showman and performer, he said he never learned to read music or play an instrument. Among his hit recordings were “ Three Little Fishes,” and “ Praise the Lord and Pass the Ammunition, “ a World War II favorite. Kyser retired from show business in 1951 and died at Chapel Hill, SC, July 23, 1985.
    1909-drummer Ray Bauduc born New Orleans, LA.http://www.angelfire.com/mac/keepitlive/drummers/Baudue/bauduc.htm
http://www.parabrisas.com/d_bauducr.html
http://www.parabrisas.com/d_bauducr_f.html
    1910-drummer Ray McKinley, born Ft. Worth, Texas.
http://americanhistory.si.edu/archives/d5635b.htm
http://www.angelfire.com/mac/keepitlive/drummers/McKinley/mckinley.htm
    1911-Tenor sax Babe Russin born Pittsburgh, Pa.www.artistdirect.com/music/artist/bio/0,,488048,00.html?artist=Babe+Russin
    1912—Tennessee University opens as Tennessee A&L State College
    1913-birthday Sylvia Porter, American financial journalist, born at Patchogue, NY. Her column was syndicated by the Los Angeles Times, reaching 450 newspapers worldwide. She also wrote more than 20 books and was noted for her ability to turn complex economic language into readable prose. Porter died June 6, 1991, at Pound Ridge, NY.
http://www.us-israel.org/jsource/biography/porter.html
    1913- Sammy Cahn--- the Tin Pan Alley legend Sammy Cahn was born Samuel Cohen at New York City. He was nominated for 25 Academy Awards and won four times for” Three Coins in the Fountain” (1954), “All the Way” (1957), “High Hopes” (1959) and “Call Me Irresponsible” (1963). In the late 1940s he began working with composer Jimmy Van Heusen, and the two in essence were the personal songwriting team for Frank Sinatra. Cahn wrote the greatest number of Sinatra hits, including “Love and Marriage,” “The Second Time Around,” High Hopes” and “The Tender Trap.” Sammy Cahn died Jan 15, 1993, at Los Angeles, CA. 
http://users.bestweb.net/~foosie/samycahn.htm
    1914-Birthday of country bandleader and songwriter Pee Wee King.
    1915—World famous firefighter “Red” Adair, born Houston, Texas, died August 7, 2004. He became world famous as an innovator in the highly specialized and extremely hazardous profession of extinguishing and capping blazing, erupting oil wells, both land-based and offshore.
http://www.dailycelebrations.com/asp/displayByDate/displayByDate.asp?month=5&day=28
    1928 - Amelia Earhart becomes the first woman to cross the Atlantic by airplane.
    1934-the first Nationwide highway planning survey was authorized by Congress to be made by the Bureau of Public Roads of the department of Agriculture, in cooperation with state highway departments, to obtain traffic volume, load weight, and other information needed for the national planning of a nationwide system of interstate highways.
    1936- Mobster Charles 'Lucky' Luciano is found guilty on 62 counts of compulsory prostitution.
    1937-Birthday of American novelist Gail Godwin, born Birmingham, among her books, The Odd Woman; A Mother & Two Daughters.
http://www.amazon.com/exec/obidos/ASIN/0345389913/absolutsearch05/
102-3944147-3635339
    1938- Babe Ruth wears a Dodger uniform for the first time as a coach. The 'Bambino' also takes batting practice with the team.
    1939 - birthday of baseball Hall of Fame outfielder Louis Clark (Lou” Brock, El Dorado, AR.
    1942 - Birthday of Paul McCartney, the most commercially-successful former member of the Beatles, was born in Liverpool, England. McCartney's association with John Lennon began in 1956 when he asked to join Lennon's group, the Quarrymen, which evolved into the Beatles. McCartney began a career on his own in 1969, just before the break-up of the Beatles, by recording a solo album which contained the hit single, "Maybe I'm Amazed." His second album, "Ram," yielded two major hits - "Another Day" and "Uncle Albert-Admiral Halsey." In 1971, McCartney formed the band Wings, which stayed together for ten years, longer than the Beatles. With Wings, McCartney had number-one hits with "My Love" in 1973 and "Silly Love Songs" in 1976. In 1982, McCartney released a solo album, "Tug of War," with numerous guest performers. Among them was Stevie Wonder, who sang with McCartney on the hit single "Ebony and Ivory." McCartney, meanwhile, sang on Michael Jackson's "The Girl is Mine," a top ten hit in 1983.
    1942 - The U.S. Navy commissions its first black officer, Harvard University medical student Bernard Whitfield Robinson.
    1944--Birthday of American Composer Paul Lansky
    1945---Top Hits
Sentimental Journey - The Les Brown Orchestra (vocal: Doris Day)
Dream - The Pied Pipers
Laura - The Woody Herman Orchestra
At Mail Call Today - Gene Autry
    1945-- Lt. Gen. Simon Bolivar Buckner, killed by Japanese artillery on Okinawa. On April 1, 1945, with his Tenth Army, he had launched the invasion of Okinawa, a strategic Pacific island located midway between Japan and Formosa. Possession of Okinawa would give the US a base large enough for an invasion of the Japanese home islands. Although there were over 100'000 Japanese defenders on the island, most were deeply entrenched in the island's densely forested interior, and by the evening of 01 April, 60'000 US troops had come safely ashore.
However, on 04 April, Japanese land resistance stiffened and at sea Kamikaze pilots escalated their deadly suicide attacks on US vessels. Over the next month, the battle raged on land and sea, with the Japanese troops and flyers making the Americans pay dearly for every strategic area of land and water won. On 18 June, with US victory imminent, General Buckner, the hero of Iwo Jima, was killed by Japanese artillery. Three days later, his Tenth Army reached the southern coast of the island, and, on 22 June, Japanese resistance effectively came to an end. Lieutenant General Mitsuru Ushijima, the Japanese commander, with some of his officers and troops, committed suicide rather than surrender. 
as the US Tenth Army overcomes the last major pockets of Japanese resistance on Okinawa Island, ending one of the bloodiest battles of World War II.
The Japanese lost 120'000 troops in the defense of Okinawa, while the Americans suffered 12'500 dead and 35'000 wounded. Of the thirty-six Allied ships lost, most were destroyed by the 2000 or so Japanese pilots who gave up their lives in Kamikaze missions. With the capture of Okinawa, the Allies prepared for the invasion of Japan, a military operation predicted to be far bloodier than the 1944 Allied invasion of Western Europe. The plan called for invading the southern island of Kyushu in November of 1945, and the main Japanese island of Honshu in March of 1946.
    1945 - Gen. Dwight D. Eisenhower received a tumultuous welcome in Washington, where he addressed a joint session of Congress. Eisenhower went on to meet Pres. Harry Truman and the 2 men established a warm relationship that later soured. In 2001 Steve Neal authored “Harry and Ike: The Relationship That Remade the Postwar World.”
    1946-Bobby Sherwood Band records “Sherwood’s Forest.”
    1948-Columbia Records begins the first mass production of the 33 1/3 RPM LP. The new format could contain a maximum of 23 minutes of music per side versus the approximately three minutes that could be squeezed on to a 78 RPM disc.
    1950-Brithday of American Composer Frank Ferko, born Barberton, OH.
    1953—Top Hits
Song from Moulin Rouge - The Percy Faith Orchestra
April in Portugal - The Les Baxter Orchestra
I’m Walking Behind You - Eddie Fisher
Take These Chains from My Heart - Hank Williams
    1953-Birthday of Robbie Bachman, drummer for Bachman-Turner Overdrive, was born in Winnipeg. The Canadian rock band, which also included Robbie's brothers Randy and Tim on guitars, was internationally popular in the 1970's with such hits as "Blue Collar," "Let It Ride," "Takin' Care of Business" and "You Ain't Seen Nothing Yet," a 1974 million-seller. At its peak, BTO won many polls and honors in the US, as well as seven Juno Awards.
    1953- Sending 23 batters to the plate at Fenway, the Red Sox enjoy a 17-run and 14-hit seventh inning as they pound the Tigers, 23-3. Sammy White sets a modern major league record scoring three times in the frame and outfielder Gene Stephens collect three hits in the to establish an American League record.
    1954 - Albert Patterson was assassinated in Phoenix, Ala. He had recently been elected as attorney general on a platform to crack down on vice. His murder led the governor to call in the National Guard to replace local law enforcement and cleanup the vice. Patterson’s son John filled the attorney general position. He was elected governor in 1958.
    1958--- Connie Francis records "Stupid Cupid
    1959-- Fats Domino records "I Want To Walk You Home"
    1959 - A Federal Court annuls the Arkansas law allowing school closings to prevent integration.
    1960-Don Sutton of the California Angels pitched a three-hitter against the Texas Rangers to win the 300th game of his career by the score of 5-1. Sutton pitched in the majors from 1966 to 1988 and finished with 324 victories.
    1961---Top Hits
Moody River - Pat Boone
Quarter to Three - U.S. Bonds
Tossin’ and Turnin’ - Bobby Lewis
Hello Walls - Faron Young
    1963- Three thousand Blacks boycott Boston public school.
    1965 - No. 1 Billboard Pop Hit: ``I Can't Help Myself,'' Four Tops.
    1966 - Gen. William Westmoreland, senior U.S. military commander in Vietnam, sends a new troop request to the Joint Chiefs of Staff. Westmoreland stated that he needed 542,588 troops for the war in Vietnam in     1967--an increase of 111,588 men to the number already serving there. In the end, President Johnson acceded to Westmoreland's wishes and dispatched the additional troops to South Vietnam, but the increases were done in an incremental fashion. The highest number of U.S. troops in South Vietnam was 543,500, which was reached in 1969.
    1966 - Gen. William Westmoreland, senior U.S. military commander in Vietnam, sends a new troop request to the Joint Chiefs of Staff. Westmoreland stated that he needed 542,588 troops for the war in Vietnam in 1967--an increase of 111,588 men to the number already serving there. In the end, President Johnson acceded to Westmoreland's wishes and dispatched the additional troops to South Vietnam, but the increases were done in an incremental fashion. The highest number of U.S. troops in South Vietnam was 543,500, which was reached in 1969.
    1967 - The Jimi Hendrix Experience makes its debut performance at the Monterey (Calif.) Pop Festival. The Hendrix album ``Electric Ladyland,'' released in 1968, tops Billboard's pop album chart for two weeks.
    1968—Poor People’s Campaign’s Solidarity Day takes place.
    1969---Top Hits
Get Back - The Beatles
Love Theme from Romeo & Juliet - Henry Mancini
In the Ghetto - Elvis Presley
Running Bear - Sonny James
    1970 - Wind and rain, and hail up to seven inches deep, caused more than five million dollars damage at Oberlin KS.
    1976-Electric Light Orchestra's "OLE ELO" goes gold. The LP is a greatest hits collection.
    1977 - Fleetwood Mac worked "Dreams" to the number one spot on the pop music charts this day. It would be the group’s only single to reach number one. Fleetwood Mac placed 18 hits on the charts in the 1970s and 1980s. Nine were top-ten tunes. 
    1977--James Taylor enters the Billboard chart with an update of Jimmy Jones's 1960 #1 hit, "Handy Man". Taylor's version will reach #4.
    1977---Top Hits
Dreams - Fleetwood Mac
Got to Give It Up (Pt. I) - Marvin Gaye
Gonna Fly Now (Theme from "Rocky") - Bill Conti
Luckenbach, Texas (Back to the Basics of Love) - Waylon Jennings
    1980-The film, "The Blues Brothers", starring Dan Ackroyd and John Belushi, premieres in New York City. Cameo's in the film include Aretha Franklin, Ray Charles, James Brown and John Lee Hooker.
    1980---One of my favorite movies, if not my favorite: "The Blues Brothers" movie opened in the US and Canada.
    1983-Dr. Sally Ride, 32-year-old physicist and pilot, functioned as a “mission specialist and became the first American woman in space when she began a six-day mission aboard the space shuttle Challenger in 1983. The “near-perfect” mission was launched from Cape Canaveral, FL, and landed, June 24, 1983, at Edwards Air Force Base, CA.
    1985---Top Hits
Everybody Wants to Rule the World - Tears for Fears
Heaven - Bryan Adams
Sussudio - Phil Collins
Country Boy - Ricky Skaggs
    1987 - It was a hot day in the Upper Great Lakes Region. Nine cities in Michigan and Wisconsin reported record high temperatures for the date. The high of 90 degrees at Marquette, MI, marked their third straight day of record heat. Severe thunderstorm in the Northern and Central High Plains Region spawned half a dozen tornadoes in Wyoming and Colorado. Wheatridge, CO, was deluged with 2.5 inches of rain in one hour.
    1989 - Unseasonably hot weather prevailed in the southwestern U.S. In Arizona, afternoon highs of 103 degrees at Winslow, 113 degrees at Tucson, and 115 degrees at Phoenix were records for the date.
    1993-- Having sold their label to Polygram three years earlier for half a billion dollars, A&M label founders Herb Alpert and Jerry Moss announce their intention to leave the company entirely. Begun in 1962, A&M was one of the first artist-owned labels, and the first successful independent label.
    1998 - The Walt Disney Co. becomes an even bigger player on the Internet with the purchase of a 43% stake in Web search engine company Infoseek Corp. Disney Plans to launch an Internet portal - a Web site that contains entertainment, news and search capabilities in one location.
    1999- Disney release the animated feature "Tarzan." The soundtrack features five tracks by Phil Collins each sung in five different languages -- English, French, German, Italian and Spanish. Collins did two versions in Spanish -- one with a Latin American accent and another with a Castilian.
    2001- Citing he wants to spend more time with his family, Orioles legend Cal Ripken Jr. announces he will retire at the end of the season. The two-time MVP will be best remembered for his streak of playing in consecutive 2,632 games. 
    2001- With the time starting when the pitcher enters fair territory, a two-minute limit for warm-up tosses thrown by relievers who come in during an inning is now mandated by the commissioner's office. At the beginning of an inning the allotted warm-up time will be 1:40 unless the game is on national television in which event the time allowed will be increased by 20 seconds.
    2002- In the first major league game to feature four players with 400 career homers, the Cubs beat the Rangers, 4-3, as Alex Gonzalez hits a walk-off homer in the bottom of the ninth inning. Sammy Sosa (475), Fred McGriff (459) and Juan Gonzalez (401) watched Rafael Palmerio add his 460th home run to the total.
    2005 - After 136 at-bats and 155 plate appearances with the bases full, Derek Jeter hits the first grand slam in his carrier. The Yankees shortstop’s homer ends the longest drought (at bats and number of homers) among current major leaguers without hitting a bases loaded home run.